Leases

3 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

 Note 7 – Leases

During fiscal year 2023, the Company entered into three new lease agreements for its corporate head office in Sydney, Melbourne office and Clarion Clinic site. The leases have four, five and three-year terms respectively. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include renewal options at the election of the Company to renew or extend the lease for an additional three to five years. These optional periods have not been considered in the determination of the right-of-use assets or lease liabilities associated with these leases as the Company did not consider it reasonably certain it would exercise the options.

The following table summarizes the weighted-average remaining lease term and discount rates for the Company’s operating leases:

	September 30, 2024			June 30, 2024
Lease term (years)		2.07			2.32
Discount rate		9.18	%		9.18	%

The following table summarizes the lease costs pertaining to the Company’s operating leases:

	September 30, 2024 $		June 30,  2024 $
	(in thousands)
Operating lease cost		54		172

Cash paid for amounts included in the measurement of operating lease liabilities during the three months ended September 30, 2024 and fiscal year June 30, 2024 was $54,000 and $172,000, respectively, and was included within net cash used in operating activities in the cash flows.

The following table summarizes the future minimum lease payments due under operating leases as of September 30, 2024, (in thousands):

Operating leases	Amount $ (in thousands)
June 30, 2025		163
June 30, 2026		211
June 30, 2027		51
June 30, 2028		34
Total minimum lease payments		458
Less amount representing interest		47
Total operating lease liabilities		411

As of September 30, 2024, the Company’s operating lease has a weighted-average remaining lease term of 2.07 years and a discount rate of 9.18%.