v3.25.4
Segment Information
 6 Months Ended
Dec. 31, 2025
Segment Information [Abstract]  
SEGMENT INFORMATION
9.SEGMENT INFORMATION

 

The Company reports segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Maker (“CODM”), the Company’s Chief Executive Officer and the senior management team, for making decisions and assessing performance as the source of the Company’s reportable segments. The CODM allocates resources and assesses the performance of each operating segment based on potential licensing opportunities, historical and potential future product sales, operating expenses, and operating income (loss) before interest and taxes. The Company has determined its reportable segments to be ‘Pharma’ and ‘Commercial’ based on the information used by the CODM. Other than cash, cash equivalents and short-term investments (“Unrestricted cash”) balances, the CODM does not regularly review asset information by reportable segment and, therefore, the Company does not report asset information by reportable segment.

 

The Pharma segment is largely organized around the research and development of small molecule pharmaceuticals drug candidates and the Commercial segment is largely organized around manufacturing technologies to produce and commercialize bulk rare cannabinoids for sale as ingredients in the health and wellness industry. Total assets held in the Pharma segment as of December 31, 2025 and June 30, 2025 were $9.7 million and $13.7 million, respectively. Total assets as of December 31, 2025 and June 30, 2025, held in the Commercial segment were $1.7 million and $1.9 million, respectively.

The following table presents information about the Company’s reportable segments for the three months ended December 31, 2025 and 2024:

 

   Three Months Ended December 31, 
   2025   2024 
   Pharma   Commercial   Total   Pharma   Commercial   Total 
   $   $   $   $   $   $ 
                         
Sales   
-
    820,188    820,188    
-
    1,111,707    1,111,707 
Cost of sales   
-
    (635,994)   (635,994)   
-
    (650,813)   (650,813)
Research and development   (624,644)   (5,992)   (630,636)   (890,513)   (4,663)   (895,176)
General and Administrative   (1,323,249)   (297,846)   (1,621,095)   (1,358,877)   (359,897)   (1,718,774)
   Amortization and depreciation   (52,602)   (599)   (53,201)   (52,603)   (599)   (53,202)
   Foreign exchange gain (loss)   18,136    
-
    18,136    (47,753)   
-
    (47,753)
   Interest and other income   74,379    
-
    74,379    30,536    
-
    30,536 
Finance expense   
-
    
-
    
-
    (351,549)   
-
    (351,549)
Net Income (Loss)   (1,907,980)   (120,243)   (2,028,223)   (2,670,759)   95,735    (2,575,024)

 

The following table presents information about the Company’s reportable segments for the six months ended December 31, 2025 and 2024:

 

   Six Months Ended December 31, 
   2025   2024 
   Pharma   Commercial   Total   Pharma   Commercial   Total 
   $   $   $   $   $   $ 
                         
Sales   
-
    1,940,309    1,940,309    
-
    2,376,345    2,376,345 
Cost of sales   
-
    (1,352,956)   (1,352,956)   
-
    (1,422,038)   (1,422,038)
Research and development   (1,200,102)   (12,146)   (1,212,248)   (1,582,352)   (12,969)   (1,595,321)
General and Administrative   (2,562,307)   (590,803)   (3,153,110)   (2,668,093)   (543,642)   (3,211,735)
   Amortization and depreciation   (105,205)   (1,198)   (106,403)   (106,583)   (1,198)   (107,781)
   Foreign exchange gain (loss)   (38,858)   
-
    (38,858)   (28,443)   
-
    (28,443)
   Interest and other income   168,144    
-
    168,144    87,630    
-
    87,630 
Finance expense   
-
    
-
    
-
    (351,549)   
-
    (351,549)
Net Income (Loss)   (3,738,328)   (16,794)   (3,755,122)   (4,649,390)   396,498    (4,252,892)
Cash and Cash Equivalents   6,739,445    215,389    6,954,834   4,346,193    1,236,846    5,583,039