v3.25.2
Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (17,542,120) $ (32,120,533)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of intangible assets 229,377 229,377
Stock based compensation - restricted stock units and restricted shares 1,202,809 1,763,450
Stock based compensation expense - stock options 1,195,447 2,823,764
Stock based compensation expense - issuance of common stock for services rendered 73,680 72,900
Amortization of financing costs 11,820 108,751
Accretion of unearned loan discount 111,212 1,023,145
Accretion of loan premium 25,758 236,970
Realized gain on maturity of available-for sale (223,865)
Non-cash lease expense from right-of-use assets 67,073 49,346
Gain on termination of operating lease (5,215)
Change in fair value of derivative liabilities (3,771) (1,816,271)
Changes in operating assets and liabilities:    
Grant receivable (2,104,050)
Prepaid and other current assets (845,505) (101,866)
Accounts payable and accrued expenses (1,386,592) 110,653
Operating lease liabilities (60,343) (47,245)
Other current liabilities (48,385)
Net cash used in operating activities (19,025,205) (27,945,024)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from U.S. Treasury Bills (available-for-sale) 14,525,000
Net cash provided by investing activities 14,525,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock 15,674,613 27,802,939
Proceeds from exercise of warrants 2,901,341 (10,000,000)
Payment of loan premium (850,000)
Payments of note payable (5,000,000)
Net cash provided by financing activities 12,725,954 17,802,939
Net change in cash and cash equivalents (6,299,251) 4,382,915
Cash and cash equivalents, beginning of period 23,843,798 19,460,883
Cash and cash equivalents, end of period 17,544,547 23,843,798
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 183,930 1,525,056
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:    
Right of use assets obtained in exchange for lease obligations 432,192
Reclassification of unrealized gains on U.S. Treasury Bills (available-for-sale investments) upon settlement 176,591
Deemed dividend for ratchet adjustment to warrants $ 369,465 $ 886,423