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Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (50,255,815) $ (26,084,468)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 229,377 229,377
Stock based compensation – restricted stock units 1,780,047 386,208
Stock based compensation expense – stock options 4,222,845 5,807,871
Stock based compensation expense – stock issued 372,500
Amortization of financing costs 170,219 99,295
Accretion of unearned loan discount 1,601,445 934,177
Accretion of loan premium 421,994 165,278
Change in operating lease right-of-use assets 37,465 8,044
Change in fair value of derivative liabilities 1,437,481 (3,287,418)
Changes in operating assets and liabilities:    
   Prepaids and other assets 39,915 (48,954)
   Accounts payable and accrued expenses 1,033,455 1,446,430
   Operating lease liabilities (38,884)
   Other liabilities (1,304,925) 1,353,310
Net cash used in operating activities (40,252,881) (18,990,850)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of U.S. Treasury Bills (14,301,135)
Net cash used in investing activities (14,301,135)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock 49,465,103 18,511,009
Proceeds from note payable net of financing costs 14,609,915
Proceeds from exercise of stock options 2,240
Net proceeds from issuance of common stock – Related Party 5,905,840
Net cash provided by financing activities 55,373,183 33,120,924
Net increase in cash and cash equivalents 819,167 14,130,074
Cash and cash equivalents, beginning of period 18,641,716 4,511,642
Cash and cash equivalents, end of period 19,460,883 18,641,716
SUPPLEMENTAL CASH FLOW INFORMATION:    
  Cash paid for interest 2,106,491 964,241
SCHEDULE OF NON-CASH FINANCING AND INVESTING ACTIVITIES:    
   Right of use assets obtained in exchange for lease obligations 130,039
   Unrealized gain on U.S. Treasury Bills $ 176,591