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Debt (Tables)
6 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Summary of Debentures

At December 31, 2025 and June 30, 2025, the Debenture consisted of the following:

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

 

 

 

 

Debt liability of royalty convertible debenture before issuance costs

 

$

12,239,622

 

 

 

$

12,239,622

 

Less: unamortized issuance costs

 

(522,066

)

 

 

 

(609,077

)

Net debt liability of royalty convertible debenture

 

 

 

11,717,556

 

 

 

 

11,630,545

 

Derivative liability of royalty convertible debenture

 

 

 

7,017,699

 

 

 

 

4,077,929

 

Components of Recorded Interest Expense

The following table summarizes the components of recorded interest expense:

 

 

Three Months Ended December 31, 2025

 

 

Three Months Ended December 31, 2024

 

 

For the Six Months Ended December 31, 2025

 

 

For the Six Months Ended December 31, 2024

 

 

Royalty Convertible Debenture

 

$

383,333

 

 

$

383,334

 

 

$

766,666

 

 

$

766,668

 

 

Amortization of issuance costs on Royalty Convertible Debenture

 

 

43,506

 

 

 

43,506

 

 

 

87,011

 

 

 

87,012

 

 

Total interest expense

 

$

426,839

 

 

$

426,840

 

 

$

853,677

 

 

$

853,680