Income Taxes

3 Months Ended

Sep. 30, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Note 10 – Income Taxes

The effective tax rates for the three months ended September 30, 2025, and 2024 were nil. The Group’s effective tax

rate differed from the applicable statutory income tax rate due to operating losses incurred for the three months ended

September 30, 2025, and 2024. The Group has accumulated losses for tax purposes as of September 30, 2025, in the

amount of $466.3 million, which may be carried forward and offset against taxable income in the future for an indefinite

period, subject to meeting Australian tax rules around continuity of ownership or business continuity test.

On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act (“OBBBA”) which includes, among

other provisions, changes to the U.S. corporate income tax system such as allowing of immediate expensing of qualifying

domestic research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs

Act. Certain provisions of the OBBBA are effective for the Group beginning in fiscal year 2026. The OBBBA did not have

any impact on the Group's interim financial statements for the three months ended September 30, 2025 and is not expected

to have an impact on Groups annual financial statements for the year ending on June 30, 2026. For additional information

regarding the Group's income tax matters, refer to the section entitled “Income Taxes” of our Annual Report on Form 10-K

for the fiscal year ended June 30, 2025.

As of September 30, 2025, and June 30, 2025, the Group did not have any uncertain tax positions.