v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (7,041,000) $ (13,872,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Patent write off 141,000 0
Stock based compensation 583,000 183,000
Amortization of patent costs 382,000 378,000
Gain on forgiveness of loans payable (172,000) 0
Interest expense-preferred stock 0 4,663,000
Change in fair value of preferred stock 177,000 0
Equity in loss from equity investment 22,000 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 350,000 (403,000)
Accounts payable 4,000 520,000
Accrued expenses (256,000) 289,000
Accrued officers' salaries and payroll taxes (352,000) (1,223,000)
Operating lease liability (165,000) (138,000)
Accrued dividend 47,000 15,000
Loan payable 0 93,000
Net cash used in operating activities (6,280,000) (9,495,000)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Equity Investment contribution (4,000,000) 0
Patent costs (80,000) (72,000)
Net cash used in investing activities (4,080,000) (72,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Sale of common stock, net of offering costs 0 4,603,000
Proceeds from issuance of Series B Preferred stocks, net of financing costs 0 4,990,000
Proceeds from exercise of preferred stock warrants 4,983,000 5,017,000
Proceeds from exercise of options 23,000 0
Purchase of treasury stock 0 (670,000)
Repayment of note payable to officer (1,033,000) (197,000)
Net cash provided by financing activities 3,973,000 13,743,000
NET INCREASE (DECREASE) IN CASH (6,387,000) 4,176,000
CASH, BEGINNING OF YEAR 10,194,000 6,018,000
CASH, END OF YEAR 3,807,000 10,194,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid for interest 59,000 59,000
Cash paid for income taxes 0 0
INVESTING AND FINANCING ACTIVITIES    
Shares issued as deferred offering costs 0 1,438,000
Cancellation of 6,980,583 Class A shares for the purchase of 13,072,730 shares of Common Stock Class B 0 1,438,000
Conversion of Series B Convertible Preferred stock to Common stock 4,374,000 10,029,000
Cancellation of shareholder debt for the purchase of 909,090 shares of Common Stock Class B shares 0 342,000
Dividend paid on Series B-2 Preferred Shares $ 0 $ 13,000