SUBSEQUENT EVENTS	6 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14. SUBSEQUENT EVENTS On January 28, 2025, the Company closed on the sale of an aggregate of 2,050,000 shares of its common stock, $0.001 par value per share (“Common Stock”), at a price to the public of $1.10 per share (before deduction of underwriting discounts and commissions), in a firm commitment underwritten public offering pursuant to an underwriting agreement, dated January 26, 2025 (“Underwriting Agreement”), between the Company and the Maxim Group LLC (“Maxim”) as sole underwriter and book-running manager for the offering (“Offering”). Pursuant to the Underwriting Agreement, the Company granted the underwriter a 45-day option to purchase up to an additional 307,500 shares of its Common Stock at the public offering price before deduction of underwriting discounts and commissions (“Overallotment Option”). As of the date of this Report, Maxim has not exercised its Overallotment Option. The Company estimates that the net proceeds of the offering to the Company, after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $1,850,000. The Company intends to use a portion of the net proceeds from the Offering to retire or reduce debt, make additional investments in its financial services operations, and for other general working capital and corporate purposes. Pursuant to the Underwriting Agreement, the Company has agreed that, until January 25, 2026, Maxim will have a right of first refusal to act as sole managing underwriter and sole book runner, sole placement agent, or sole sales agent, for any and all future registered offerings or private placements of the Company’s equity, equity-linked or debt securities for which we retain the service of an underwriter, agent, advisor, finder or other person or entity in connection with such offering during such period. Also, the Company has agreed not to offer to retain any entity or person in connection with such an offering on terms more favorable than the terms on which the Company offers to retain Maxim. Subject to certain limited exceptions, the Company has agreed for a period of 120 days after the closing of the Offering not to (i) offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of our securities without Maxim’s prior written consent; and (ii) each of the Company’s directors, officers, and affiliates who are holders of the Company’s shares as of January 26, 2025, (and all holders of securities exercisable for or convertible into shares of our common stock) have agreed, for a period of 120 days after the closing of the Offering, subject to certain exceptions, not to offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of the Company’s securities, including shares of Common Stock issuable upon exercise of currently outstanding options granted to any such person; provided that the Company’s employees who are issued shares pursuant to its employee incentive plans that have vested or vest in the future are not subject to such restriction. Maxim may in its sole discretion and at any time without notice release some or all of the shares subject to the lock-up agreements prior to the expiration of the lock-up period. When determining whether or not to release shares from the lock-up agreements, Maxim will consider, among other factors, the security holder’s reasons for requesting release, the number of shares for which the release is being requested and market conditions at the time. Pursuant to the Underwriting Agreement, the Company agreed to indemnify Maxim against liabilities relating to the Offering arising under the Securities Act of 1933, as amended (“Securities Act”), and the Securities Exchange Act of 1934, as amended (“Securities Exchange Act”), as well as liabilities arising from the material breach of any of the representations and warranties the Company made in the Underwriting Agreement, and to contribute to payments that Maxim may be required to make for these liabilities. The foregoing description of the Underwriting Agreement is not complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement, a copy of which was filed as an exhibit to its Current Report on Form 8-K filed with the Securities and Exchange Commission on January 27, 2025. The foregoing does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

SUBSEQUENT EVENTS

6 Months Ended

Dec. 31, 2024

NOTE 14. SUBSEQUENT EVENTS

On January 28, 2025, the Company closed on the sale of an aggregate of 2,050,000 shares of its common stock, $0.001 par value per share (“Common Stock”), at a price to the public of $1.10 per share (before deduction of underwriting discounts and commissions), in a firm commitment underwritten public offering pursuant to an underwriting agreement, dated January 26, 2025 (“Underwriting Agreement”), between the Company and the Maxim Group LLC (“Maxim”) as sole underwriter and book-running manager for the offering (“Offering”). Pursuant to the Underwriting Agreement, the Company granted the underwriter a 45-day option to purchase up to an additional 307,500 shares of its Common Stock at the public offering price before deduction of underwriting discounts and commissions (“Overallotment Option”). As of the date of this Report, Maxim has not exercised its Overallotment Option.

The Company estimates that the net proceeds of the offering to the Company, after deducting underwriting discounts and commissions and estimated offering expenses, will be approximately $1,850,000. The Company intends to use a portion of the net proceeds from the Offering to retire or reduce debt, make additional investments in its financial services operations, and for other general working capital and corporate purposes.

Pursuant to the Underwriting Agreement, the Company has agreed that, until January 25, 2026, Maxim will have a right of first refusal to act as sole managing underwriter and sole book runner, sole placement agent, or sole sales agent, for any and all future registered offerings or private placements of the Company’s equity, equity-linked or debt securities for which we retain the service of an underwriter, agent, advisor, finder or other person or entity in connection with such offering during such period. Also, the Company has agreed not to offer to retain any entity or person in connection with such an offering on terms more favorable than the terms on which the Company offers to retain Maxim.

Subject to certain limited exceptions, the Company has agreed for a period of 120 days after the closing of the Offering not to (i) offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of our securities without Maxim’s prior written consent; and (ii) each of the Company’s directors, officers, and affiliates who are holders of the Company’s shares as of January 26, 2025, (and all holders of securities exercisable for or convertible into shares of our common stock) have agreed, for a period of 120 days after the closing of the Offering, subject to certain exceptions, not to offer, issue, sell, contract to sell, encumber, grant any option for the sale of or otherwise dispose of any of the Company’s securities, including shares of Common Stock issuable upon exercise of currently outstanding options granted to any such person; provided that the Company’s employees who are issued shares pursuant to its employee incentive plans that have vested or vest in the future are not subject to such restriction. Maxim may in its sole discretion and at any time without notice release some or all of the shares subject to the lock-up agreements prior to the expiration of the lock-up period. When determining whether or not to release shares from the lock-up agreements, Maxim will consider, among other factors, the security holder’s reasons for requesting release, the number of shares for which the release is being requested and market conditions at the time.

Pursuant to the Underwriting Agreement, the Company agreed to indemnify Maxim against liabilities relating to the Offering arising under the Securities Act of 1933, as amended (“Securities Act”), and the Securities Exchange Act of 1934, as amended (“Securities Exchange Act”), as well as liabilities arising from the material breach of any of the representations and warranties the Company made in the Underwriting Agreement, and to contribute to payments that Maxim may be required to make for these liabilities.

The foregoing description of the Underwriting Agreement is not complete and is qualified in its entirety by reference to the full text of the Underwriting Agreement, a copy of which was filed as an exhibit to its Current Report on Form 8-K filed with the Securities and Exchange Commission on January 27, 2025.

The foregoing does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.