Stockholders’ Deficit and Mezzanine Equity (Tables)
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9 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Jun. 30, 2025 |
| Stockholders’ Deficit and Mezzanine Equity [Abstract] |
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| Schedule of Redemption Value of Shares of Series A Preferred Stock |
|
The
following table illustrates the redemption value of the shares of Series A preferred Stock in the offering:
| Redeemable Series A Preferred Stock | |
| |
| Initial fair value of the Series A Preferred Stock | |
| 115,000,000 | |
| Accretion of Series B issuances | |
| 5,000,000 | |
| Balance as of June 30, 2024 | |
| 120,000,000 | |
| Reclass from Mezzanine Equity to Permanent Equity | |
| 120,000,000 | |
| Balance as of June 30, 2025 | |
| - | |
|
| Schedule of Outstanding Stock Warrants |
The
following is a summary of outstanding stock warrants as of the nine months ended March 31, 2026, and June 30, 2025:
| | | Number of
Shares | | | Weighted
Average
Shares | | | Weighted
Average
Remaining
Life (years) | | | Intrinsic
Value | | | Warrants outstanding as of June 30, 2024 | | | 8,156,087 | | | $ | 4.72 | | | $ | 1.7 | | | $ | 26,716,879 | | | Warrants exercisable as of June 30, 2024 | | | 8,069,238 | | | $ | 4.75 | | | $ | 1.7 | | | $ | 26,195,785 | | | Issued | | | (100,000 | ) | | | - | | | | - | | | | - | | | Expired and forfeited | | | - | | | | - | | | | - | | | | - | | | Exercised | | | - | | | | - | | | | - | | | | - | | | Warrants outstanding as of June 30, 2025 | | | 8,056,087 | | | $ | 4.76 | | | $ | 0.7 | | | $ | 26,116,879 | | | Warrants exercisable as of June 30, 2025 | | | 8,056,087 | | | $ | 4.76 | | | $ | 0.7 | | | $ | 26,116,879 | | | Issued | | | - | | | | - | | | | - | | | | | | | Expired and forfeited | | | (7,368,587 | ) | | | - | | | | - | | | | | | | Exercised | | | - | | | | - | | | | - | | | | | | | Warrants outstanding as of March 31, 2026 | | | 687,500 | | | $ | 1.29 | | | | 1.6 | | | $ | 4,615,000 | | | Warrants exercisable as of March 31, 2026 | | | 687,500 | | | $ | 1.29 | | | | 1.6 | | | $ | 4,615,000 | |
|
The
following is a summary of outstanding stock warrants as of the years ended June 30, 2025, and 2024:
| | | Number of
Shares | | | Weighted
Average
Shares | | | Weighted
Average
Remaining Life
(years) | | | Intrinsic
Value | | | Warrants as of June 30, 2023 | | $ | 13,056,087 | | | $ | 3.13 | | | $ | 2.6 | | | $ | 8,245,525 | | | Issued | | | 100,000 | | | | - | | | | - | | | | 600,000 | | | Expired and forfeited | | | - | | | | - | | | | - | | | | - | | | Exercised | | | (5,000,000 | ) | | | - | | | | - | | | | - | | | Warrants outstanding as of June 30, 2024 | | $ | 8,156,087 | | | $ | 4.72 | | | $ | 1.7 | | | $ | 26,716,879 | | | Warrants exercisable as of June 30, 2024 | | $ | 8,069,238 | | | $ | 4.75 | | | $ | 1.7 | | | $ | 26,195,785 | | | Issued | | | - | | | | - | | | | - | | | | | | | Expired and forfeited | | | (100,000 | ) | | | - | | | | - | | | | | | | Exercised | | | - | | | | - | | | | - | | | | | | | Warrants outstanding as of June 30, 2025 | | $ | 8,056,087 | | | $ | 4.76 | | | $ | 0.7 | | | $ | 26,116,879 | | | Warrants exercisable as of June 30, 2025 | | $ | 8,056,087 | | | $ | 4.76 | | | $ | 0.7 | | | $ | 26,116,879 | |
|
| Schedule of Classes of Outstanding Stock Warrants |
| Exercise Price ($) | | |
Warrants
outstanding as of
March 31, 2026 | | |
Warrants
outstanding as of
June 30, 2025 | |
| | | |
| | |
| |
| $ | 0.25 | | |
| - | | |
| 137,017 | |
| $ | 0.60 | | |
| 675,000 | | |
| 675,000 | |
| $ | 1.75 | | |
| - | | |
| 2,458,446 | |
| $ | 3.00 | | |
| 12,500 | | |
| 4,718,125 | |
| $ | 4.00 | | |
| - | | |
| 67,500 | |
| | | | |
| 687,500 | | |
| 8,056,087 | |
|
| Exercise Price ($) | | |
Warrants
outstanding as of
June 30, 2025 | | |
Warrants
outstanding as of
June 30, 2024 | |
| | | |
| | |
| |
| $ | 0.25 | | |
| 137,017 | | |
| 137,017 | |
| $ | 0.60 | | |
| 675,000 | | |
| 675,000 | |
| $ | 2.00 | | |
| - | | |
| 100,000 | |
| $ | 1.75 | | |
| 2,458,446 | | |
| 2,458,446 | |
| $ | 3.00 | | |
| 4,718,125 | | |
| 4,718,125 | |
| $ | 4.00 | | |
| 67,500 | | |
| 67,500 | |
| | | | |
| 8,056,087 | | |
| 8,156,087 | |
|
| Schedule of Outstanding Stock Options |
The
following is a summary of outstanding stock options as of March 31, 2026, and June 30, 2025:
| | | Number of
Shares | | | Weighted
Average
Exercise
Price | | | Weighted
Average
Remaining
Life (years) | | | Intrinsic
Value | | | Options outstanding as of June 30, 2025 | | | 953,892 | | | $ | 4.48 | | | | 6.53 | | | $ | 3,353,616 | | | Options exercisable as of June 30, 2025 | | | 860,083 | | | $ | 4.11 | | | | 6.64 | | | $ | - | | | Issued | | | - | | | | - | | | | - | | | | - | | | Canceled | | | (27,519 | ) | | | - | | | | - | | | | - | | | Expired | | | - | | | | - | | | | - | | | | - | | | Options outstanding as of March 31, 2026 | | | 926,373 | | | $ | 4.41 | | | | 5.70 | | | $ | 3,328,272 | | | Options exercisable as of March 31, 2026 | | | 898,825 | | | $ | 4.20 | | | | 5.50 | | | $ | - | |
|
The
following is a summary of outstanding stock options as of June 30, 2025, and 2024:
| | | Number of
Shares | | | Weighted
Average
Exercise
Price | | | Weighted
Average
Remaining Life
(years) | | | Intrinsic
Value | | | Options outstanding as of June 30, 2024 | | $ | 932,592 | | | $ | 4.05 | | | $ | 7.43 | | | $ | 3,683,808 | | | Options exercisable as of June 30, 2024 | | $ | 806,614 | | | $ | 3.99 | | | $ | 7.03 | | | $ | - | | | Issued | | | 127,410 | | | | 7.86 | | | | 9.28 | | | | - | | | Canceled | | | (106,110 | ) | | | - | | | | - | | | | - | | | Expired | | | - | | | | - | | | | - | | | | - | | | Options outstanding as of June 30, 2025 | | $ | 953,892 | | | $ | 4.48 | | | $ | 6.53 | | | $ | 3,353,616 | | | Options exercisable as of June 30, 2025 | | $ | 860,083 | | | $ | 4.11 | | | $ | 6.15 | | | $ | - | |
|
| Schedule of Vesting Terms of Outstanding Stock Options |
The
following are the vesting terms associated with those shares:
| Tranche | | | Shares
Granted | | | Vesting
Method | | Vesting Terms | | Tranche 1 | | | | 784,236 | | | Graded Vesting | | 1/6th vested on July 1, 2021, remainder vests over the next 18th months using the graded vesting method, until the option is 100% vested. | | Tranche 2 | | | | 139,377 | | | Straight-line | | 1/24th will vest on a straight-line monthly basis until the option is 100% vested. | | Tranche 3 | | | | 2,760 | | | Graded Vesting | | 1/6th vests on grant date, remainder vests over the next 30 months using the graded vesting method, until the option is 100% vested. | | Total | | | | 926,373 | | | | | |
|
The
following are the vesting terms associated with those shares:
| Tranche | | Shares
Granted | | | Vesting
Method | | Vesting Terms | | Tranche 1 | | | 784,236 | | | Graded Vesting | | 1/6th vested on July 1, 2021, remainder vests over the next 18th months using the graded vesting method, until the option is 100% vested. | | Tranche 2 | | | 166,896 | | | Straight-line | | 1/24th will vest on a straight-line monthly basis until the option is 100% vested. | | Tranche 3 | | | 2,760 | | | Graded Vesting | | 1/6th vests on grant date, remainder vests over the next 30 months using the graded vesting method, until the option is 100% vested. | | Total | | | 953,892 | | | | | |
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| Schedule of Weighted average Grant Share-Based Awards |
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The
Black-Scholes option-pricing model includes the following weighted average assumptions to determine the grant share-based awards:
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Years
Ended June 30, |
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2025 |
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|
2024 |
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| Assumptions: |
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| Risk-free interest rate |
|
|
0.42-4.45 |
% |
|
|
3.90-4.77 |
% |
| Expected dividend
yield |
|
|
0 |
% |
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|
0 |
% |
| Expected volatility |
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|
62.51- 77.84 |
% |
|
|
60.41-62.84 |
% |
| Expected life (in years) |
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|
5.52 |
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|
5.52 |
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