Leases (Tables)

6 Months Ended

Dec. 31, 2025

The table below summarized the Company’s leases for the six months ended December 31, 2025 and 2024 (in thousands, except years and discount rate):


		Six Months Ended December 31,
		2025			2024
Statements of Operations:
Operating lease costs		$	46		$	45
Variable lease costs			21			33
Total lease costs		$	67		$	78

Statements of Cash Flow:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	41		$	57

Other:
ROU assets obtained in exchange for new operating lease liabilities		$	455		$	—
Weighted average remaining lease term in years			5.50			1.16
Weighted average discount rate			6.09	%		7.40	%

The following table presents the Company’s ROU assets and lease liabilities (in thousands):


	December 31, 2025		June 30, 2025
Balance Sheets:
Operating lease ROU asset (included in other assets)	$	449	$	58
Accrued liabilities and other - current		63		66
Operating lease liability - long-term		386		—

Schedule of future minimum lease payments associated with the Company's non-cancellable operating lease for office space

As of December 31, 2025, the future minimum lease payments associated with the Company’s non-cancellable operating lease for office space are as follows (in thousands):


Fiscal Year		December 31, 2025
Remaining in 2026		$	17
2027			97
2028			100
2029			103
2030			107
Thereafter			110
Total operating lease payments			534
Less: discount to present value			(85)
Total operating lease liabilities			449
Less: current operating lease liabilities			63
Non current operating lease liabilities		$	386