EQUITY (Tables)

3 Months Ended

Sep. 30, 2024

Equity [Abstract]

SCHEDULE OF WARRANTS OUTSTANDING

	Warrants Outstanding		Exercise Price		Expiration Date
July 2021 IPO		87,500	$	7.00	June 2026
November 2021 SPA		555,000	$	1.75	November 2026
November 2021 SPA		195,000	$	1.75	May 2027
Total		837,500

SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTION

Stock options have been recorded at their fair value. The Black-Scholes option-pricing model assumptions used to value the issuance of stock options under the Plan for the specific periods below are noted in the following table:

	For the Three Months Ended September 30,
	2024			2023
Weighted average expected terms (in years)		6.0			6.5
Weighted average expected volatility		99.5	%		97.8	%
Weighted average risk-free interest rate		4.4	%		4.6	%
Expected dividend yield		0.0	%		0.0	%

SUMMARY OF STOCK OPTION ACTIVITY

The following is a summary of the Company’s stock option activity for the three months ended September 30, 2024 and 2023, excluding the executive Target Options:

				Weighted Average
						Remaining
				Exercise		Contractual		Intrinsic
	Options			Price		Term (Yrs)		Value
Outstanding at July 1, 2024		3,643,880		$	3.95		6.5	$	-
Options Granted		147,000			2.50		9.8		-
Options Exercised		-			-		0.0		-
Options Forfeited / Cancelled		(276,488	)		4.15		8.5		-
Outstanding at September 30, 2024		3,514,392		$	3.88		6.2	$	-
Exercisable at September 30, 2024		1,979,073		$	4.03		4.9	$	-

				Weighted Average
						Remaining
				Exercise		Contractual		Intrinsic
	Options			Price		Term (Yrs)		Value
Outstanding at July 1, 2023		6,128,381		$	4.84		7.0	$	1,676,966
Options Granted		259,747			2.57		10.0		102,407
Options Exercised		(25,000	)		2.00		3.1		22,741
Options Forfeited / Cancelled		(609,977	)		4.79		6.9		102,407
Outstanding at September 30, 2023		5,753,151		$	4.76		7.0	$	-
Exercisable at September 30, 2023		3,585,072		$	4.16		5.6	$	-

 

SCHEDULE OF STOCK OPTION BASED EXPENSE

The Company’s stock option-based expense for the three months ended September 30, 2024 and 2023 consisted of the following:

	For the Three Months Ended
	September 30,
	2024		2023
Stock option-based expense:
Research and development expenses	$	139,190	$	271,129
General and administrative expenses		113,008		97,726
Sales and marketing expenses		94,068		153,424
Board option expense		12,460		74,101
Total	$	358,726	$	596,380