Stock-Based Payments

3 Months Ended

Sep. 30, 2024

Stock-Based Payments [Abstract]

Stock-based payments

 Note 10 – Stock-based payments

	For the three months ended September 30,
	2024 $		2023 $
	(in thousands)
Research and development		-		-
General and administrative		459		201
Total stock-based compensation expense		459		201

Restricted stock units

A summary of the changes in the Company’s restricted stock activity for the period ended September 30, 2024, are as follows:

	Numbers of Shares			Weighted Average Grant Date Fair Value $
	(in thousands, expect per share data)
Unvested and Outstanding as of June 30, 2024		651,939			3.91
Granted		27,795			1.84
Vested		(9,265	)		(1.84	)
Forfeited		-			-
Unvested and Outstanding as of September 30, 2024		670,469			3.86

Stock options

A summary of the changes in the Company’s stock options activity for the period ended September 30, 2024, are as follows:

	Number of Shares		Weighted Average Exercise Price ($)		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands) ($)
Outstanding as of June 30, 2024		235,008		26.76		1.93		-
Granted		-		-		-		-
Exercised		-		-		-		-
Cancelled or forfeited		-		-		-		-
Outstanding as of September 30, 2024		235,008		28.00		1.93		-
Unvested as of September 30, 2024		14,001		24.26		4.01		-

The aggregate intrinsic value of share options is calculated as the difference between the exercise price of the share options and the fair value of the Company’s shares of common stock for those share options that had exercise prices lower than the fair value of the Company’s shares of common stock.

As of September 30, 2024, there was $85,091 of unrecognized compensation cost related to unvested share options, which is expected to be recognized over a weighted-average period of 0.75 years.