v3.25.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (14,052,979) $ (27,179,739) $ (32,120,533) $ (50,255,815)
Adjustments to reconcile net loss to net cash used in operating activities:        
Amortization of intangible assets 172,033 172,033 229,377 229,377
Stock based compensation - restricted stock units and restricted shares 912,667 1,020,383 1,763,450 1,780,047
Stock based compensation expense - stock options 842,638 2,118,649 2,823,764 4,222,845
Stock based compensation expense - issuance of common stock for services rendered 33,450 92,202    
Stock based compensation expense - stock issued     72,900 372,500
Amortization of financing costs 11,820 867,449 108,751 170,219
Accretion of unearned loan discount 111,212 200,909 1,023,145 1,601,445
Accretion of loan premium 25,758 (223,865) 236,970 421,994
Realized gain on maturity of available-for sale 33,903 (223,865)
Non-cash lease expense from right-of-use assets 49,448 (5,215) 49,346 37,465
Gain on termination of operating lease     (5,215)
Change in fair value of derivative liabilities (3,771) (1,799,339) (1,816,271) 1,437,481
Changes in operating assets and liabilities:        
Prepaid and other current assets (365,135) (87,056) (101,866) 39,915
Accounts payable and accrued expenses (1,111,072) 933,495 110,653 1,033,455
Operating lease liabilities (43,807) (33,909) (47,245) (38,884)
Other current liabilities (48,385) (48,385) (1,304,925)
Net cash used in operating activities (13,417,738) (23,938,485) (27,945,024) (40,252,881)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Proceeds from U.S. Treasury Bills (available-for-sale) 14,525,000 14,525,000 (14,301,135)
Net cash provided by investing activities 14,525,000 14,525,000 (14,301,135)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Net proceeds from issuance of common stock 15,674,613 27,802,939 27,802,939 49,465,103
Proceeds from exercise of warrants 2,901,341 (7,500,000)    
Payment of loan premium (850,000)    
Payments of note payable (5,000,000) (10,000,000)
Proceeds from exercise of stock options     2,240
Net proceeds from issuance of common stock - Related Party     5,905,840
Net cash provided by financing activities 12,725,954 20,302,939 17,802,939 55,373,183
Net change in cash and cash equivalents (691,784) 10,889,454 4,382,915 819,167
Cash and cash equivalents, beginning of period 23,843,798 19,460,883 19,460,883 18,641,716
Cash and cash equivalents, end of period 23,152,014 30,350,337 23,843,798 19,460,883
SUPPLEMENTAL CASH FLOW INFORMATION:        
Cash paid for interest 178,932 1,293,419 1,525,056 2,106,491
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES:        
Right of use assets obtained in exchange for lease obligations 432,192 432,192
Unrealized gain on U.S. Treasury Bills (available-for-sale)     176,591
Reclassification of unrealized gains on U.S. Treasury Bills (available-for-sale investments) upon settlement 176,591 176,591
Deemed dividend for ratchet adjustment to warrants $ 369,465 $ 886,423 $ 886,423