Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Schedule of Federal Income Tax provision

	2023			2022
Net loss before taxes	$	(21,338,207	)	$	(33,539,962	)
Statutory rate		21	%		21	%
Computed expected tax recovery		(4,481,024	)		(7,043,392	)
Section 162(m) adjustments		–			2,264,757
Other permanent tax differences		(5,107	)		83,623
Adjustments to net operating loss		113,966			(2,832,937	)
Change in unrecognized tax benefits		(8,495,803	)		6,164,291
Change in valuation allowance		12,867,968			1,382,301
Income tax provision	$	–		$	–

Schedule of Deferred Income Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities at June 30, after applying the statutory corporate income tax rate, are as follows for the fiscal years ended June 30:

	2023			2022
Net operating losses	$	19,365,174		$	8,174,021
Stock-based compensation		982,521			–
Section 174 capitalization		679,037			–
Other temporary differences		15,258			–
Valuation allowance		(21,041,989	)		(8,174,021	)
Net deferred tax asset	$	–		$	–

Schedule of Unrecognized Tax Benefits

The Company has recorded uncertain tax positions (“UTP”) that result in unrecognized tax benefits recorded on the books of the Company. The unrecognized tax benefits for the Company are as follows as of June 30:

	2023			2022
Unrecognized tax benefits, beginning of period	$	8,715,253		$	2,550,962
Decrease during the period		(8,715,253	)		–
Increase during the period		219,450			6,164,291
Unrecognized tax benefits, end of period	$	219,450		$	8,715,253