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10-K true 2026-06-30 --06-30 2026 false 001-41811 AMERICAN BATTERY TECHNOLOGY COMPANY NV 33-1227980 100 Washington Street Suite 100 Reno NV 89503 (775) 473-4744 Common stock, $0.001 par value ABAT NASDAQ No No No No Yes Yes Non-accelerated Filer true false false false false 438000000 0.001 142577758 Certain information in Part III of this Annual Report on Form 10-K is incorporated by reference to our definitive Proxy Statement for the 2026 Annual Meeting of Shareholders to be filed with the Securities and Exchange Commission within 120 days after the fiscal year ended June 30, 2026. Risk Management and Strategy We have processes in place for assessing, identifying, and managing material risks from cybersecurity threats, including potential unauthorized occurrences on or through both our physical systems and electronic information systems, that could adversely affect the confidentiality, integrity, or availability of our information systems or the information residing on those systems. These include a wide variety of mechanisms, controls, technologies, methods, systems, and other processes that are designed to prevent, detect, or mitigate data loss, theft, misuse, unauthorized access, or other security incidents or vulnerabilities affecting the data. The data include confidential, proprietary, and business and personal information that we collect, process and store as part of our business, including on behalf of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250701__20260630_zmRdWlVWv0Ae">third parties. Additionally, <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_901_ecyd--CybersecurityRiskThirdPartyOversightAndIdentificationProcessesFlag_dbT_c20250701__20260630_zgvWmvRN6S23">we use processes to oversee and identify material risks from cybersecurity threats associated with our use of third-party technology and systems, including technology and systems we use for encryption and authentication; employee email; content delivery to customers; back-office support; and other functions. As part of our risk management process, we conduct application security assessments, vulnerability management, and ongoing risk assessments. We also maintain a variety of incident response plans that are utilized when incidents are detected. We are implementing a plan to require employees with access to information systems, including all corporate employees, to undertake data protection and cybersecurity training and compliance programs at least annually. true true Governance We have a unified and centrally coordinated team, led by our Chief Operating Officer, that is responsible for implementing and maintaining centralized cybersecurity and data protection practices at the Company in close coordination with senior leadership and other teams across the Company. In addition, we also engage assessors, consultants, auditors, or other third parties to assist with assessing, identifying and managing cybersecurity risks. Our cybersecurity risks and associated mitigations are evaluated by senior leadership, including as part of our risk assessments that are reviewed by the Board of Directors. The <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250701__20260630_zRK7YyVNqzk5">board of directors oversees our policies and procedures for protecting our cybersecurity infrastructure and for compliance with applicable data protection and security regulations and related risks. They also oversee the response to any significant cybersecurity incidents. Our Chief Operating Officer, who has extensive cybersecurity knowledge and skills, heads the team responsible for implementing and maintaining cybersecurity and data protection practices at the Company and reports directly to the Chief Executive Officer. For additional information regarding risks from cybersecurity threats that have <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_908_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbT_c20250701__20260630_zzp6YKeCJoD6">materially affected or are reasonably likely to materially affect our Company, including our business strategy, results of operations, or financial condition, please refer to Item 1A, “Risk Factors,” in this Annual Report on Form 10-K. board of directors oversees our policies and procedures for protecting our cybersecurity infrastructure and for compliance with applicable data protection and security regulations and related risks. They also oversee the response to any significant cybersecurity incidents. true KPMG LLP 185 Portland, Oregon

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Organization and Nature of Operations</td></tr> </table> American Battery Technology Company (the “Company”, “ABTC”, “we” and “us”) is an integrated critical minerals manufacturing company that is working to increase the domestic U.S. production of critical minerals, such as lithium, nickel, cobalt, manganese, copper, aluminum, and graphite through its exploration of new primary resources of critical minerals, the development and commercialization of new technologies for the extraction of these critical minerals from primary resources, and the commercialization of an internally developed integrated process for the recycling of lithium-ion batteries. Through this three-pronged approach the Company is working to both increase the domestic production of these critical minerals and to ensure that as these materials reach their end of life, the constituent elemental critical minerals are returned to the domestic manufacturing supply chain in a closed-loop fashion. The Company was incorporated under the laws of the State of Nevada on October 6, 2011, for the purpose of acquiring rights to mineral properties with the eventual objective of being a producing mineral company. We have a limited operating history and generated our initial revenue in the fourth quarter of the fiscal year ended June 30, 2024. Our principal executive offices are located at 100 Washington Street, Suite 100, Reno, Nevada 89503.

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">2.</td> <td style="text-align: justify">Liquidity</td></tr> </table> As of June 30, 2026, the Company had cash and cash equivalents of $49.5 million and an accumulated deficit of $333.5 million. The Company incurred negative cash flows from operating activities of $24.2 million for the fiscal year ended June 30, 2026 (“fiscal 2026”), and $28.9 million for the fiscal year ended June 30, 2025 (“fiscal 2025”). The Company has incurred losses since its inception. There is no assurance that the Company will be able to generate sufficient profits, obtain such financings, or obtain them on favorable terms, which could limit its operations. The Company’s primary sources of capital to date have been from revenue from sales of its products, its registered direct offerings, ATM sales agreement with Virtu Americas, LLC, and proceeds from awarded government contracts. Management believes that the Company’s cash and cash equivalents as of June 30, 2026, and anticipated revenue from sales of our products, are sufficient to fund the Company’s operations for at least the next 12 months from the issuance date of these consolidated financial statements.

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">3.</td> <td style="font: 10pt Times New Roman, Times, Serif">Summary of Significant Accounting Policies and Recent Accounting Pronouncements</td></tr> </table> <p id="xdx_844_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zcut6grCaKCg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">a)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Basis of Presentation and Principles of Consolidation</td></tr> </table> The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The Company’s fiscal year end is June 30. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Oroplata Exploraciones E Ingenieria SRL (inactive) and LithiumOre Corporation (formerly Lithortech Resources Inc) and ABMC AG, LLC (inactive). All inter-company balances and transactions, if any, have been eliminated upon consolidation. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">b)</td> <td style="font: 10pt Times New Roman, Times, Serif">Use of Estimates</td></tr> </table> The preparation of these consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, the fair value of stock-based compensation, valuation and recoverability of long-lived assets and intangible assets, and fair value less cost to sell assets held-for-sale. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations may be affected. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">c)</td> <td style="font: 10pt Times New Roman, Times, Serif">Cash and Cash Equivalents</td></tr> </table> The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. At June 30, 2026, cash equivalents included approximately $40.8 million invested in money market funds. These funds invest in short-term U.S. government securities and are highly liquid. Management considers these investments to be cash equivalents due to their short-term nature, high liquidity, and insignificant risk of changes in value. The Company did not have any cash equivalents as of June 30, 2025. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">d)</td> <td style="font: 10pt Times New Roman, Times, Serif">Accounts Receivable, net</td></tr> </table> The Company evaluates the creditworthiness of its customers. If the collection of any specific receivable is doubtful, an allowance is recorded in the allowance for expected credit losses which is included in accounts receivable. The Company had no allowance for expected credit losses recorded at either June 30, 2026 or 2025. As of June 30, 2026, there were four customers that comprised <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250701__20260630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zX5sJPWFmis4" title="Concentration risk, percentage">81% of the accounts receivable on the consolidated balance sheet. As of June 30, 2025 three customers comprised <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240701__20250630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zkUm3nclePx7" title="Concentration risk, percentage">95% of the accounts receivable on the consolidated balance sheet. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">e)</td> <td style="font: 10pt Times New Roman, Times, Serif">Inventory</td></tr> </table> Inventory consists of raw materials and finished goods, and is stated on a first-in, first-out basis at the lower of cost or net realizable value. Net realizable value is the estimated selling price of inventory in the ordinary course of business, less estimated costs of completion, disposal, and transportation. The Company periodically makes judgments and estimates regarding the future utility and carrying value of inventory. When inventory is adjusted to its net realizable value, a new cost basis is established, and such cost is not adjusted for any potential recovery. Obsolete inventories are written off to cost of revenue. Should the Company’s estimates of future selling prices or production costs change, additional and potentially material write-downs may be required. A small change in the Company’s estimates may result in a material charge to its reported financial results. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">f)</td> <td style="font: 10pt Times New Roman, Times, Serif">Restricted cash</td></tr> </table> As of June 30, 2025, the Company was subject to a minimum liquidity requirement of $5.0 million in accordance with the terms of its loan agreement (See Note 11). Accordingly, $5.0 million of the Company’s cash balance was classified as restricted cash on the consolidated balance sheet as of June 30, 2025, as it was not available for general operating purposes. As of July 29, 2025, the restrictions were lifted, and the funds became available for general use. As of June 30, 2026, the Company had cash of $0.8 million classified as restricted cash. These funds are restricted under letters of credit issued for surety bond collateral and a vendor agreement for supply of feedstock. Restricted cash is not available for general corporate purposes until the underlying obligations are satisfied, or the letters of credit are released. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">g)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Prepaid Expenses and Other </td></tr> </table> Prepaid expenses consist primarily of amounts paid in advance for goods and services to be received in future periods, including insurance, software licenses, maintenance contracts, and other operating costs. Prepaid expenses also include down payments and advance payments made in connection with the purchase of property and equipment that has not yet been placed in service. Prepaid expenses are recognized as expense over the period in which the related benefits are realized or reclassified to property and equipment when the asset is placed into service. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">h)</td> <td style="font: 10pt Times New Roman, Times, Serif">Assets Held-For-Sale</td></tr> </table> The Company classifies assets as held-for-sale (“disposal group”) in the period when all of the relevant criteria to be classified as held for sale are met. These criteria include management’s commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. Assets held-for-sale are reported at the lower of their carrying value or fair value less cost to sell. The fair values of disposal groups are estimated using accepted valuation techniques, including indicative listing prices. The Company considers historical experience, guidance received from third parties, and all information available at the time the estimates are made to derive fair value. Any loss resulting from the measurement is recognized in the period when the held-for-sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to sell, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held-for-sale are not amortized or depreciated. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">i)</td> <td style="font: 10pt Times New Roman, Times, Serif">Property and Equipment, net</td></tr> </table> Property and equipment are stated at cost, net of depreciation and impairments, if any. The Company’s long-lived assets consist of buildings, vehicles, equipment, and land. Buildings, vehicles and equipment are depreciated on a straight-line basis over their estimated useful lives, which are as follows: Schedule of Property and Equipment Estimated Useful Lives <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Buildings</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">39 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Building improvements</td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zXp0Q5C7mxG5" title="Estimated useful life">15 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment & vehicles</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MinimumMember_zsziSggpu145" title="Estimated useful life">5-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MaximumMember_zkPKesXVy9va" title="Estimated useful life">7 years</td></tr> </table> Expenditures for maintenance and repairs are expensed in the statements of operations as incurred. Expenditures which materially change capacities or extend useful lives are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are recognized in other income (expense), net in the statements of operations. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">j)</td> <td style="font: 10pt Times New Roman, Times, Serif">Mining Properties</td></tr> </table> Costs of leasing, exploration, carrying and retaining unproven mineral properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred as it is still in the exploration stage. If the Company identifies proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it will enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs are amortized on a units-of-production basis over the proven and probable reserves following the commencement of production. Interest expense, if any allocable to the cost of developing mining properties and to construct new facilities, is capitalized until assets are ready for their intended use. For the fiscal years ended 2026 and 2025, no interest expense was capitalized. The Company capitalizes costs incurred to acquire, explore, evaluate, and develop mineral properties once proven and probable mineral reserves have been established and the project is deemed economically and technically feasible. Prior to the establishment of proven and probable reserves, exploration and evaluation costs are expensed as incurred. Capitalized costs are recorded as mineral properties and mine development assets and are amortized using the units-of-production method over the estimated recoverable proven and probable reserves of the related mine, beginning when production commences. Accounting Standards Codification “Extractive Activities-Mining: Business Combinations,” (“ASC”) 930-805, states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights which are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">k)</td> <td style="font: 10pt Times New Roman, Times, Serif">Intangible Assets</td></tr> </table> Intangible assets consist of water rights that have indefinite useful lives and are tested annually for impairment, or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount of the asset group exceeds its fair value. Annually, or when there is a triggering event, the Company first performs a qualitative assessment by evaluating all relevant events and circumstances to determine if it is more likely than not that the indefinite-lived intangible assets are impaired; this includes considering any potential effect on significant inputs to determining the fair value of the indefinite-lived intangible assets. When it is more likely than not that an indefinite-lived intangible asset is impaired, then the Company calculates the fair value of the intangible asset and performs a quantitative impairment test. The Company performs its annual impairment test on June 30. No impairment charges for intangible assets were recorded in the fiscal years 2026 and 2025. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">l)</td> <td style="font: 10pt Times New Roman, Times, Serif">Leases</td></tr> </table> We determine if an arrangement is a lease, or contains a lease, at the inception of the arrangement. If we determine the arrangement is a lease, or contains a lease, at lease inception, we then determine whether the lease is an operating lease or a finance lease. Operating and finance leases result in recording a right-of-use (“RoU”) asset and lease liability on our consolidated balance sheets. The Company does not have any financing leases. RoU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease RoU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. For purposes of calculating operating lease RoU assets and operating lease liabilities, we use the non-cancellable lease term plus options to extend that we are reasonably certain to take. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Our leases generally do not provide an implicit rate. As such, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We have elected not to recognize RoU assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset. We have elected not to separate lease and non-lease components for any class of underlying asset. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">m)</td> <td style="font: 10pt Times New Roman, Times, Serif">Long-lived Assets</td></tr> </table> Long-lived assets, such as property and equipment, mineral properties, purchased intangibles, and RoU assets are reviewed for impairment whenever events or changes in circumstances indicate, in management’s judgement, that the carrying amount of an asset (or asset group) may not be recoverable. In analyzing potential impairments, projections of future cash flows from the asset (or asset group) are used to estimate fair value. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset (or asset group), a loss is recognized for the difference between the estimated fair value and the carrying value of the asset group. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">n)</td> <td style="font: 10pt Times New Roman, Times, Serif">Convertible Notes</td></tr> </table> The Company evaluates all conversion, repurchase and redemption features contained in a debt instrument to determine if there are any embedded features that require bifurcation as a derivative. The Company accounts for its convertible notes as a long-term liability, with the current portion reclassified to a short-term liability, equal to the proceeds received from issuance, including any embedded conversion features, net of the unamortized debt discount and offering costs in the accompanying unaudited consolidated balance sheets. The debt discount, debt issuance and offering costs are amortized over the term of the convertible notes, using the effective interest method, as interest expense in the accompanying consolidated statements of operations. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">o)</td> <td style="font: 10pt Times New Roman, Times, Serif">Derivative Financial Instruments</td></tr> </table> The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in earnings in the consolidated statements of operations. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">p)</td> <td style="font: 10pt Times New Roman, Times, Serif">Revenue Recognition</td></tr> </table> The Company recognizes revenue upon satisfying its promises to transfer goods or services to customers under the terms of its contracts. These promises, referred to as performance obligations, consist of the transfer of physical goods, including recycled ferrous and nonferrous metals and black mass to customers. These performance obligations are satisfied at the point in time that the Company transfers control of the goods to the customer, which occurs when title to and risk of loss of the goods transfer to the customer. The timing of transfer of title and risk of loss is dictated by customary or explicitly stated contract terms. The majority of the Company’s sales involve transfer of control to the customer, and thus revenue recognition, before delivery to the customer’s destination; for example, upon release of the goods to the shipper. Shipping and handling activities that occur after a customer has obtained control of a good are accounted for as fulfillment costs rather than an additional promise in a contract. As such, shipping and handling consideration (freight revenue) is recognized when control of the goods transfers to the customer, and freight expense is accrued to cost of goods sold when the related revenue is recognized. The Company recognizes revenue based on contractually stated selling prices and quantities shipped, net of sales tax, and adjusted for estimated claims and discounts. Claims are customary in the recycled metal industry and arise from variances in the quantity or quality of delivered products. Revenue adjustments may be required if the settlement of claims differs from original estimates. For the fiscal years 2026 and 2025, revenue adjustments related to performance obligations that were satisfied in previous periods were not material. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">q)</td> <td style="font: 10pt Times New Roman, Times, Serif">Cost of goods sold</td></tr> </table> Cost of goods sold includes the cost of the recycled products and byproducts delivered to our customers. It includes direct and indirect materials, labor costs, manufacturing overhead, including depreciation costs, lower of cost or net realizable value charges, and shipping and logistics costs. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">r)</td> <td style="font: 10pt Times New Roman, Times, Serif">Research and Development Costs</td></tr> </table> Research and development (“R&D”) costs are accounted for in accordance with ASC 730, “Research and Development.” ASC 730-10-25 requires that all R&D costs be recognized as an expense as incurred. However, some costs associated with R&D activities that have an alternative future use (e.g., materials, equipment, facilities) may be capitalizable. As of June 30, 2026 and 2025, no costs associated with R&D activities have been capitalized. The Company has been awarded U.S. federal grant awards for specific R&D programs. Under Accounting Standards Update (“ASU”) No. 2021-10, “Government Assistance,” the Company recognizes invoiced government funds as an offset to R&D costs in the period the qualifying costs are incurred. As the federal grants receivable are not deemed to have any significant realization risk, the Company believes this best reflects the expected net expenditures associated with these programs. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">s)</td> <td style="font: 10pt Times New Roman, Times, Serif">Exploration Costs</td></tr> </table> Mineral property acquisition costs are capitalized as incurred. Exploration and evaluation costs are expensed as incurred until proven and probable reserves are established. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs then incurred to develop such property are capitalized on a prospective basis. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. As of June 30, 2026, the Company capitalized $<span id="xdx_909_eus-gaap--CostsIncurredDevelopmentCosts_pn5n6_c20250701__20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_z5DkBae77Cua" title="Mining development and related costs">1.4 million in mineral property costs. As of June 30, 2025, the Company did <span id="xdx_905_eus-gaap--CostsIncurredDevelopmentCosts_doxL_c20240701__20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_z2uOzAhzqRo2" title="Mining development and related costs::XDX::-">not capitalize any mineral property costs. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">t)</td> <td style="font: 10pt Times New Roman, Times, Serif">Stock-based Compensation</td></tr> </table> Under ASC 718, Compensation—Stock Compensation, compensation cost for stock-based awards is recognized over the requisite service period based on the grant-date fair value of the award. For awards subject solely to a service condition, compensation expense is recognized on a straight-line basis over the requisite service period. For awards that include performance conditions, compensation expense is recognized when achievement of the performance condition is considered probable and only for the portion of the requisite service period that has been rendered. If the probability assessment changes, cumulative compensation expense is adjusted in the period of change. The Company accounts for forfeitures as they occur. Stock-based awards granted to employees primarily consist of restricted stock units (“RSUs”) and common share warrants awarded to employees, with the corresponding compensation cost recorded within additional paid-in capital. The common share warrants are contingent upon performance and service conditions and have been classified as equity. The fair value of each warrant granted is estimated using the Black-Scholes option-pricing model using the single option award approach. The following assumptions are used in the Black-Scholes option-pricing model: Risk-Free Interest Rate: The risk-free interest rate is based on the implied yield available on the date of grant on U.S. Treasury zero-coupon bonds issued with a term that is equal to the option’s expected term at the grant date. Expected Volatility: The Company estimates the volatility for option grants by evaluating the average historical volatility of the Company’s stock price for the period immediately preceding the option grant for a term that is approximately equal to the option’s expected term. Weighted Average expected Term: The expected term for employees represents the period over which options granted are expected to be outstanding using the simplified method, as the Company’s historical share option exercise experience does not provide a reasonable basis upon which to estimate the expected term. The simplified method deems the term to be the average of the time-to-vesting and contractual life of the stock-based awards. Dividend Yield: The Company has not declared or paid dividends to date and does not anticipate declaring dividends. As such, the dividend yield has been estimated to be zero. <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zNgHN29dXmbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below sets forth the assumptions used on the date of grant for estimating the fair value of options granted during the fiscal years ending June 30: Schedule of Estimated Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Weighted average expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7.02</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.72</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.97</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.015</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133.54</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132.21</td><td style="text-align: left">%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">u)</td> <td style="font: 10pt Times New Roman, Times, Serif">Government Grant and Tax Credit Awards</td></tr> </table> For government grants, the Company recognizes a benefit in the consolidated statements of operations, as a reduction to the expense for which the individual government grant is designed to compensate, over the duration of the program when the Company has reasonably assurance that it will comply with the conditions under the grant and that the grant will be received. Grants related to investments in property and equipment are recognized as a reduction to the cost basis of the underlying assets with an ongoing reduction to depreciation expense over the assets’ estimated useful life. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">v)</td> <td style="font: 10pt Times New Roman, Times, Serif">Income Taxes</td></tr> </table> The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes.” The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Any uncertain tax position liabilities have been applied against the deferred tax balance given that there is a sufficient net operating loss to cover any penalties and fees associated with the uncertain tax position. The Company assesses each of its identified uncertain positions and determines whether any potential penalties and interest liability should be accrued at the consolidated balance sheet dates. Interest and penalties accrued on unrecognized tax benefits are included within income tax expense in the consolidated financial statements. Due to the Company’s net loss position since inception, the likelihood of deferred tax assets being realized does not meet the more likely than not assessment guidelines. Accordingly, a valuation allowance equal to the deferred tax assets has been recorded at June 30, 2026 and 2025. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">w)</td> <td style="font: 10pt Times New Roman, Times, Serif">Loss per Share</td></tr> </table> The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statement of operations. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options, warrants and awards. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As the Company has reported losses for all periods presented, all potentially dilutive securities are anti-dilutive, and accordingly, basic net loss per share equaled diluted net loss per share. The Company had the following potentially dilutive shares outstanding as of June 30: Schedule of Potentially Dilutive Shares Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zRUHfbEPK4L5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zm3w3xNApyA9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNotesMember_zlBMIiZKMnSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,501,948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zfs8utjkz953" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,181,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z2sYcZfs19Xf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Share awards outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,981,382</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,583,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zwPALzzuXt17" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total potentially dilutive</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,163,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,465,564</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">x)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fair Value of Financial Instruments</td></tr> </table> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities that the reporting entity can assess at the measurement date. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs for the asset or liability which include the Company’s assumptions regarding the data market participants would use in pricing the asset or liability based on the best information available under the circumstances. Our investments measured at fair value on a recurring basis were as follows: Fair Value Assets Measured on Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z86TIiO8cvb2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0DTIodqBQxg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zcFEnZGIuFr3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_zn8LPLO37cz4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9gwIVv2M6y9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zxqVrk7dm3G4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zarTkQPS3Vq8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250630_zSYjZXJatlnc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="30" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="33"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash and cash equivalents (including restricted):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 28%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_z7Mij2Y9Gohc" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zlgisea24yZ8" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zaYjesdX39A5" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zy97XS9idPae" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zn5z68Skv077" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zzB0Kw1Yb6Ti" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zUuKmBeDhWO6" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zVB7QfG23mDb" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Cash equivalents</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z8xMmC9CNrf1" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z2cNclgLmLce" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z7wmVuKvcuQe" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zKLUiJkw86D2" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zprq1A3XNi43" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zErgXeNXhRek" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zB8lxDzvgfAb" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zpJvxEnXEz5b" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbnJsU3jqpN3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zX2MLuPJytdi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4qmPNKIXuO7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630_z2yee7TqxXqk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zyCKcuENvp35" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQ0Lgtmiqvhh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9qsyWtbukQj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_c20250630_zr6Cf0vO7Yh6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The carrying values of the Company’s cash, accounts receivable, grants receivable, prepaid expenses, other receivables, accounts payable and accrued liabilities, and notes payable, approximate fair value due to their short maturities. The Company’s fair value measurements included the valuation of the derivative liabilities for the bifurcated notes payable freestanding call and conversion options and for the liability-classified equity-linked contracts, both of which are classified as Level 3 of the fair value hierarchy. As of December 31, 2024, the Company reclassified derivative liabilities and liability-classified equity-linked contracts from long-term liabilities to equity. No derivative instruments were issued during the fiscal year ended June 30, 2026; accordingly, fair value measurement was not required. See Note 13 for further discussion. The Company’s fair value measurements include the valuation of the assets held-for-sale as of June 30, 2025. See Note 7 for relevant fair value disclosures. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">y)</td> <td style="font: 10pt Times New Roman, Times, Serif">Adoption of Recent Accounting Pronouncements</td></tr> </table> The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a review to determine the consequences of the change to its consolidated financial statements and assures there are sufficient controls in place to ascertain the Company’s consolidated financial statements properly reflect the change. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures”, which updates income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This ASU also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in this ASU are effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 during the fiscal year ended June 30, 2026. Reference footnote 17 for required disclosures. In November 2024, FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” As amended by ASU 2025-01, this guidance requires disclosures in the notes to financial statements of specified information about certain costs and expenses. It clarifies which certain costs and expenses that are included in cost of sales and selling, general, and administrative expense categories that should be disclosed with qualitative descriptions of amounts that are not separately disaggregated quantitatively. Additionally, it requires disclosure of total amounts of selling expenses and an entity’s definition of selling expense. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-10, “Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities,” which provides authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. Under this guidance, a government grant is defined as a transfer of a monetary asset or tangible nonmonetary asset from a government (other than in an exchange transaction) that is subject to conditions the entity must satisfy in order to receive the benefit. ASU 2025-10 is effective for annual periods beginning after December 15, 2028 (including interim periods therein). Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the financial statements and disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements,” to clarify the applicability, form, content, and disclosure requirements for interim financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The amendments in this update refine the guidance in ASC Topic 270 by providing a comprehensive list of required interim disclosures and codifying a disclosure principle that requires the Company to disclose events and changes that occur after the end of the most recent annual reporting period that have, or are reasonably expected to have, a material impact on its financial position, results of operations, or cash flows. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-12, “Codification Improvements,” which updates the FASB Accounting Standards Codification to clarify, correct errors, and improve the overall usability of GAAP. The improvements consist of narrow-scope amendments, technical corrections, clarification of existing guidance, and updates to clarify the appropriate scope and application of certain disclosure requirements. ASU 2025-12 is effective for annual and interim periods beginning after December 15, 2026. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The ASU establishes guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The amendments are required to be applied retrospectively, subject to certain transition provisions. The Company is in the process of determining the effect this ASU will have on the financial statements and disclosures contained in the notes to the consolidated financial statements.

<p id="xdx_844_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zcut6grCaKCg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">a)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Basis of Presentation and Principles of Consolidation</td></tr> </table> The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and are expressed in U.S. dollars. The Company’s fiscal year end is June 30. These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Oroplata Exploraciones E Ingenieria SRL (inactive) and LithiumOre Corporation (formerly Lithortech Resources Inc) and ABMC AG, LLC (inactive). All inter-company balances and transactions, if any, have been eliminated upon consolidation.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">b)</td> <td style="font: 10pt Times New Roman, Times, Serif">Use of Estimates</td></tr> </table> The preparation of these consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, the fair value of stock-based compensation, valuation and recoverability of long-lived assets and intangible assets, and fair value less cost to sell assets held-for-sale. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations may be affected.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">c)</td> <td style="font: 10pt Times New Roman, Times, Serif">Cash and Cash Equivalents</td></tr> </table> The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. At June 30, 2026, cash equivalents included approximately $40.8 million invested in money market funds. These funds invest in short-term U.S. government securities and are highly liquid. Management considers these investments to be cash equivalents due to their short-term nature, high liquidity, and insignificant risk of changes in value. The Company did not have any cash equivalents as of June 30, 2025.

40800000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">d)</td> <td style="font: 10pt Times New Roman, Times, Serif">Accounts Receivable, net</td></tr> </table> The Company evaluates the creditworthiness of its customers. If the collection of any specific receivable is doubtful, an allowance is recorded in the allowance for expected credit losses which is included in accounts receivable. The Company had no allowance for expected credit losses recorded at either June 30, 2026 or 2025. As of June 30, 2026, there were four customers that comprised <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250701__20260630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zX5sJPWFmis4" title="Concentration risk, percentage">81% of the accounts receivable on the consolidated balance sheet. As of June 30, 2025 three customers comprised <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240701__20250630__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zkUm3nclePx7" title="Concentration risk, percentage">95% of the accounts receivable on the consolidated balance sheet.

0.81

0.95

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">e)</td> <td style="font: 10pt Times New Roman, Times, Serif">Inventory</td></tr> </table> Inventory consists of raw materials and finished goods, and is stated on a first-in, first-out basis at the lower of cost or net realizable value. Net realizable value is the estimated selling price of inventory in the ordinary course of business, less estimated costs of completion, disposal, and transportation. The Company periodically makes judgments and estimates regarding the future utility and carrying value of inventory. When inventory is adjusted to its net realizable value, a new cost basis is established, and such cost is not adjusted for any potential recovery. Obsolete inventories are written off to cost of revenue. Should the Company’s estimates of future selling prices or production costs change, additional and potentially material write-downs may be required. A small change in the Company’s estimates may result in a material charge to its reported financial results.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">f)</td> <td style="font: 10pt Times New Roman, Times, Serif">Restricted cash</td></tr> </table> As of June 30, 2025, the Company was subject to a minimum liquidity requirement of $5.0 million in accordance with the terms of its loan agreement (See Note 11). Accordingly, $5.0 million of the Company’s cash balance was classified as restricted cash on the consolidated balance sheet as of June 30, 2025, as it was not available for general operating purposes. As of July 29, 2025, the restrictions were lifted, and the funds became available for general use. As of June 30, 2026, the Company had cash of $0.8 million classified as restricted cash. These funds are restricted under letters of credit issued for surety bond collateral and a vendor agreement for supply of feedstock. Restricted cash is not available for general corporate purposes until the underlying obligations are satisfied, or the letters of credit are released.

5000000.0

800000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">g)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Prepaid Expenses and Other </td></tr> </table> Prepaid expenses consist primarily of amounts paid in advance for goods and services to be received in future periods, including insurance, software licenses, maintenance contracts, and other operating costs. Prepaid expenses also include down payments and advance payments made in connection with the purchase of property and equipment that has not yet been placed in service. Prepaid expenses are recognized as expense over the period in which the related benefits are realized or reclassified to property and equipment when the asset is placed into service.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">h)</td> <td style="font: 10pt Times New Roman, Times, Serif">Assets Held-For-Sale</td></tr> </table> The Company classifies assets as held-for-sale (“disposal group”) in the period when all of the relevant criteria to be classified as held for sale are met. These criteria include management’s commitment to sell the disposal group in its present condition and the sale being deemed probable of being completed within one year. Assets held-for-sale are reported at the lower of their carrying value or fair value less cost to sell. The fair values of disposal groups are estimated using accepted valuation techniques, including indicative listing prices. The Company considers historical experience, guidance received from third parties, and all information available at the time the estimates are made to derive fair value. Any loss resulting from the measurement is recognized in the period when the held-for-sale criteria are met. The Company assesses the fair value of a disposal group, less any costs to sell, each reporting period it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying value of the disposal group, as long as the new carrying value does not exceed the initial carrying value of the disposal group. Assets held-for-sale are not amortized or depreciated.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">i)</td> <td style="font: 10pt Times New Roman, Times, Serif">Property and Equipment, net</td></tr> </table> Property and equipment are stated at cost, net of depreciation and impairments, if any. The Company’s long-lived assets consist of buildings, vehicles, equipment, and land. Buildings, vehicles and equipment are depreciated on a straight-line basis over their estimated useful lives, which are as follows: Schedule of Property and Equipment Estimated Useful Lives <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Buildings</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">39 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Building improvements</td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zXp0Q5C7mxG5" title="Estimated useful life">15 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment & vehicles</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MinimumMember_zsziSggpu145" title="Estimated useful life">5-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MaximumMember_zkPKesXVy9va" title="Estimated useful life">7 years</td></tr> </table> Expenditures for maintenance and repairs are expensed in the statements of operations as incurred. Expenditures which materially change capacities or extend useful lives are capitalized. When assets are retired or disposed of, the cost and accumulated depreciation are removed from the accounts, and any resulting gains or losses are recognized in other income (expense), net in the statements of operations.

Schedule of Property and Equipment Estimated Useful Lives <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Buildings</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: right">39 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Building improvements</td><td> </td> <td style="text-align: right"><span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zXp0Q5C7mxG5" title="Estimated useful life">15 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Equipment & vehicles</td><td> </td> <td style="text-align: right"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MinimumMember_zsziSggpu145" title="Estimated useful life">5-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember__srt--RangeAxis__srt--MaximumMember_zkPKesXVy9va" title="Estimated useful life">7 years</td></tr> </table>

P39Y

P15Y

P5Y

P7Y

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">j)</td> <td style="font: 10pt Times New Roman, Times, Serif">Mining Properties</td></tr> </table> Costs of leasing, exploration, carrying and retaining unproven mineral properties are expensed as incurred. The Company expenses all mineral exploration costs as incurred as it is still in the exploration stage. If the Company identifies proven and probable reserves in its investigation of its properties and upon development of a plan for operating a mine, it will enter the development stage and capitalize future costs until production is established. When a property reaches the production stage, the related capitalized costs are amortized on a units-of-production basis over the proven and probable reserves following the commencement of production. Interest expense, if any allocable to the cost of developing mining properties and to construct new facilities, is capitalized until assets are ready for their intended use. For the fiscal years ended 2026 and 2025, no interest expense was capitalized. The Company capitalizes costs incurred to acquire, explore, evaluate, and develop mineral properties once proven and probable mineral reserves have been established and the project is deemed economically and technically feasible. Prior to the establishment of proven and probable reserves, exploration and evaluation costs are expensed as incurred. Capitalized costs are recorded as mineral properties and mine development assets and are amortized using the units-of-production method over the estimated recoverable proven and probable reserves of the related mine, beginning when production commences. Accounting Standards Codification “Extractive Activities-Mining: Business Combinations,” (“ASC”) 930-805, states that mineral rights consist of the legal right to explore, extract, and retain at least a portion of the benefits from mineral deposits. Mining assets include mineral rights which are considered tangible assets under ASC 930-805. ASC 930-805 requires that mineral rights be recognized at fair value as of the acquisition date. As a result, the direct costs to acquire mineral rights are initially capitalized as tangible assets. Mineral rights include costs associated with acquiring patented and unpatented mining claims.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">k)</td> <td style="font: 10pt Times New Roman, Times, Serif">Intangible Assets</td></tr> </table> Intangible assets consist of water rights that have indefinite useful lives and are tested annually for impairment, or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount of the asset group exceeds its fair value. Annually, or when there is a triggering event, the Company first performs a qualitative assessment by evaluating all relevant events and circumstances to determine if it is more likely than not that the indefinite-lived intangible assets are impaired; this includes considering any potential effect on significant inputs to determining the fair value of the indefinite-lived intangible assets. When it is more likely than not that an indefinite-lived intangible asset is impaired, then the Company calculates the fair value of the intangible asset and performs a quantitative impairment test. The Company performs its annual impairment test on June 30. No impairment charges for intangible assets were recorded in the fiscal years 2026 and 2025.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">l)</td> <td style="font: 10pt Times New Roman, Times, Serif">Leases</td></tr> </table> We determine if an arrangement is a lease, or contains a lease, at the inception of the arrangement. If we determine the arrangement is a lease, or contains a lease, at lease inception, we then determine whether the lease is an operating lease or a finance lease. Operating and finance leases result in recording a right-of-use (“RoU”) asset and lease liability on our consolidated balance sheets. The Company does not have any financing leases. RoU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease RoU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. For purposes of calculating operating lease RoU assets and operating lease liabilities, we use the non-cancellable lease term plus options to extend that we are reasonably certain to take. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term. Our leases generally do not provide an implicit rate. As such, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We have elected not to recognize RoU assets and lease liabilities that arise from short-term (12 months or less) leases for any class of underlying asset. We have elected not to separate lease and non-lease components for any class of underlying asset.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">m)</td> <td style="font: 10pt Times New Roman, Times, Serif">Long-lived Assets</td></tr> </table> Long-lived assets, such as property and equipment, mineral properties, purchased intangibles, and RoU assets are reviewed for impairment whenever events or changes in circumstances indicate, in management’s judgement, that the carrying amount of an asset (or asset group) may not be recoverable. In analyzing potential impairments, projections of future cash flows from the asset (or asset group) are used to estimate fair value. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset (or asset group), a loss is recognized for the difference between the estimated fair value and the carrying value of the asset group.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">n)</td> <td style="font: 10pt Times New Roman, Times, Serif">Convertible Notes</td></tr> </table> The Company evaluates all conversion, repurchase and redemption features contained in a debt instrument to determine if there are any embedded features that require bifurcation as a derivative. The Company accounts for its convertible notes as a long-term liability, with the current portion reclassified to a short-term liability, equal to the proceeds received from issuance, including any embedded conversion features, net of the unamortized debt discount and offering costs in the accompanying unaudited consolidated balance sheets. The debt discount, debt issuance and offering costs are amortized over the term of the convertible notes, using the effective interest method, as interest expense in the accompanying consolidated statements of operations.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">o)</td> <td style="font: 10pt Times New Roman, Times, Serif">Derivative Financial Instruments</td></tr> </table> The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in earnings in the consolidated statements of operations.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">p)</td> <td style="font: 10pt Times New Roman, Times, Serif">Revenue Recognition</td></tr> </table> The Company recognizes revenue upon satisfying its promises to transfer goods or services to customers under the terms of its contracts. These promises, referred to as performance obligations, consist of the transfer of physical goods, including recycled ferrous and nonferrous metals and black mass to customers. These performance obligations are satisfied at the point in time that the Company transfers control of the goods to the customer, which occurs when title to and risk of loss of the goods transfer to the customer. The timing of transfer of title and risk of loss is dictated by customary or explicitly stated contract terms. The majority of the Company’s sales involve transfer of control to the customer, and thus revenue recognition, before delivery to the customer’s destination; for example, upon release of the goods to the shipper. Shipping and handling activities that occur after a customer has obtained control of a good are accounted for as fulfillment costs rather than an additional promise in a contract. As such, shipping and handling consideration (freight revenue) is recognized when control of the goods transfers to the customer, and freight expense is accrued to cost of goods sold when the related revenue is recognized. The Company recognizes revenue based on contractually stated selling prices and quantities shipped, net of sales tax, and adjusted for estimated claims and discounts. Claims are customary in the recycled metal industry and arise from variances in the quantity or quality of delivered products. Revenue adjustments may be required if the settlement of claims differs from original estimates. For the fiscal years 2026 and 2025, revenue adjustments related to performance obligations that were satisfied in previous periods were not material.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">q)</td> <td style="font: 10pt Times New Roman, Times, Serif">Cost of goods sold</td></tr> </table> Cost of goods sold includes the cost of the recycled products and byproducts delivered to our customers. It includes direct and indirect materials, labor costs, manufacturing overhead, including depreciation costs, lower of cost or net realizable value charges, and shipping and logistics costs.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">r)</td> <td style="font: 10pt Times New Roman, Times, Serif">Research and Development Costs</td></tr> </table> Research and development (“R&D”) costs are accounted for in accordance with ASC 730, “Research and Development.” ASC 730-10-25 requires that all R&D costs be recognized as an expense as incurred. However, some costs associated with R&D activities that have an alternative future use (e.g., materials, equipment, facilities) may be capitalizable. As of June 30, 2026 and 2025, no costs associated with R&D activities have been capitalized. The Company has been awarded U.S. federal grant awards for specific R&D programs. Under Accounting Standards Update (“ASU”) No. 2021-10, “Government Assistance,” the Company recognizes invoiced government funds as an offset to R&D costs in the period the qualifying costs are incurred. As the federal grants receivable are not deemed to have any significant realization risk, the Company believes this best reflects the expected net expenditures associated with these programs.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">s)</td> <td style="font: 10pt Times New Roman, Times, Serif">Exploration Costs</td></tr> </table> Mineral property acquisition costs are capitalized as incurred. Exploration and evaluation costs are expensed as incurred until proven and probable reserves are established. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs then incurred to develop such property are capitalized on a prospective basis. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserve. If mineral properties are subsequently abandoned or impaired, any capitalized costs will be charged to operations. As of June 30, 2026, the Company capitalized $<span id="xdx_909_eus-gaap--CostsIncurredDevelopmentCosts_pn5n6_c20250701__20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_z5DkBae77Cua" title="Mining development and related costs">1.4 million in mineral property costs. As of June 30, 2025, the Company did <span id="xdx_905_eus-gaap--CostsIncurredDevelopmentCosts_doxL_c20240701__20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_z2uOzAhzqRo2" title="Mining development and related costs::XDX::-">not capitalize any mineral property costs.

1400000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">t)</td> <td style="font: 10pt Times New Roman, Times, Serif">Stock-based Compensation</td></tr> </table> Under ASC 718, Compensation—Stock Compensation, compensation cost for stock-based awards is recognized over the requisite service period based on the grant-date fair value of the award. For awards subject solely to a service condition, compensation expense is recognized on a straight-line basis over the requisite service period. For awards that include performance conditions, compensation expense is recognized when achievement of the performance condition is considered probable and only for the portion of the requisite service period that has been rendered. If the probability assessment changes, cumulative compensation expense is adjusted in the period of change. The Company accounts for forfeitures as they occur. Stock-based awards granted to employees primarily consist of restricted stock units (“RSUs”) and common share warrants awarded to employees, with the corresponding compensation cost recorded within additional paid-in capital. The common share warrants are contingent upon performance and service conditions and have been classified as equity. The fair value of each warrant granted is estimated using the Black-Scholes option-pricing model using the single option award approach. The following assumptions are used in the Black-Scholes option-pricing model: Risk-Free Interest Rate: The risk-free interest rate is based on the implied yield available on the date of grant on U.S. Treasury zero-coupon bonds issued with a term that is equal to the option’s expected term at the grant date. Expected Volatility: The Company estimates the volatility for option grants by evaluating the average historical volatility of the Company’s stock price for the period immediately preceding the option grant for a term that is approximately equal to the option’s expected term. Weighted Average expected Term: The expected term for employees represents the period over which options granted are expected to be outstanding using the simplified method, as the Company’s historical share option exercise experience does not provide a reasonable basis upon which to estimate the expected term. The simplified method deems the term to be the average of the time-to-vesting and contractual life of the stock-based awards. Dividend Yield: The Company has not declared or paid dividends to date and does not anticipate declaring dividends. As such, the dividend yield has been estimated to be zero. <p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zNgHN29dXmbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below sets forth the assumptions used on the date of grant for estimating the fair value of options granted during the fiscal years ending June 30: Schedule of Estimated Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Weighted average expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7.02</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.72</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.97</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.015</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133.54</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132.21</td><td style="text-align: left">%</td></tr> </table>

<p id="xdx_897_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zNgHN29dXmbe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below sets forth the assumptions used on the date of grant for estimating the fair value of options granted during the fiscal years ending June 30: Schedule of Estimated Fair Value <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Weighted average expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">7.02</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">5.72</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3.97</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.015</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133.54</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">132.21</td><td style="text-align: left">%</td></tr> </table>

P7Y7D

P5Y8M19D

0.0397

0.04015

1.3354

1.3221

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">u)</td> <td style="font: 10pt Times New Roman, Times, Serif">Government Grant and Tax Credit Awards</td></tr> </table> For government grants, the Company recognizes a benefit in the consolidated statements of operations, as a reduction to the expense for which the individual government grant is designed to compensate, over the duration of the program when the Company has reasonably assurance that it will comply with the conditions under the grant and that the grant will be received. Grants related to investments in property and equipment are recognized as a reduction to the cost basis of the underlying assets with an ongoing reduction to depreciation expense over the assets’ estimated useful life.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">v)</td> <td style="font: 10pt Times New Roman, Times, Serif">Income Taxes</td></tr> </table> The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, “Income Taxes.” The asset and liability method provides that deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial reporting and tax bases of assets and liabilities, and for operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using the currently enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized. Any uncertain tax position liabilities have been applied against the deferred tax balance given that there is a sufficient net operating loss to cover any penalties and fees associated with the uncertain tax position. The Company assesses each of its identified uncertain positions and determines whether any potential penalties and interest liability should be accrued at the consolidated balance sheet dates. Interest and penalties accrued on unrecognized tax benefits are included within income tax expense in the consolidated financial statements. Due to the Company’s net loss position since inception, the likelihood of deferred tax assets being realized does not meet the more likely than not assessment guidelines. Accordingly, a valuation allowance equal to the deferred tax assets has been recorded at June 30, 2026 and 2025.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">w)</td> <td style="font: 10pt Times New Roman, Times, Serif">Loss per Share</td></tr> </table> The Company computes net income (loss) per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the consolidated statement of operations. Basic EPS is computed by dividing net income (loss) available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options, warrants and awards. Diluted EPS excludes all dilutive potential shares if their effect is anti-dilutive. As the Company has reported losses for all periods presented, all potentially dilutive securities are anti-dilutive, and accordingly, basic net loss per share equaled diluted net loss per share. The Company had the following potentially dilutive shares outstanding as of June 30: Schedule of Potentially Dilutive Shares Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zRUHfbEPK4L5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zm3w3xNApyA9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNotesMember_zlBMIiZKMnSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,501,948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zfs8utjkz953" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,181,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z2sYcZfs19Xf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Share awards outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,981,382</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,583,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zwPALzzuXt17" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total potentially dilutive</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,163,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,465,564</td><td style="text-align: left"> </td></tr> </table>

The Company had the following potentially dilutive shares outstanding as of June 30: Schedule of Potentially Dilutive Shares Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zRUHfbEPK4L5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zm3w3xNApyA9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNotesMember_zlBMIiZKMnSh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,501,948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--WarrantMember_zfs8utjkz953" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,181,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z2sYcZfs19Xf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Share awards outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,981,382</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,583,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zwPALzzuXt17" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total potentially dilutive</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,163,372</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">35,465,564</td><td style="text-align: left"> </td></tr> </table>

9501948

19181990

17380150

12981382

8583466

32163372

35465564

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">x)</td> <td style="font: 10pt Times New Roman, Times, Serif">Fair Value of Financial Instruments</td></tr> </table> Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities that the reporting entity can assess at the measurement date. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs for the asset or liability which include the Company’s assumptions regarding the data market participants would use in pricing the asset or liability based on the best information available under the circumstances. Our investments measured at fair value on a recurring basis were as follows: Fair Value Assets Measured on Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z86TIiO8cvb2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0DTIodqBQxg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zcFEnZGIuFr3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_zn8LPLO37cz4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9gwIVv2M6y9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zxqVrk7dm3G4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zarTkQPS3Vq8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250630_zSYjZXJatlnc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="30" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="33"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash and cash equivalents (including restricted):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 28%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_z7Mij2Y9Gohc" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zlgisea24yZ8" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zaYjesdX39A5" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zy97XS9idPae" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zn5z68Skv077" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zzB0Kw1Yb6Ti" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zUuKmBeDhWO6" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zVB7QfG23mDb" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Cash equivalents</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z8xMmC9CNrf1" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z2cNclgLmLce" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z7wmVuKvcuQe" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zKLUiJkw86D2" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zprq1A3XNi43" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zErgXeNXhRek" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zB8lxDzvgfAb" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zpJvxEnXEz5b" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbnJsU3jqpN3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zX2MLuPJytdi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4qmPNKIXuO7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630_z2yee7TqxXqk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zyCKcuENvp35" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQ0Lgtmiqvhh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9qsyWtbukQj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_c20250630_zr6Cf0vO7Yh6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The carrying values of the Company’s cash, accounts receivable, grants receivable, prepaid expenses, other receivables, accounts payable and accrued liabilities, and notes payable, approximate fair value due to their short maturities. The Company’s fair value measurements included the valuation of the derivative liabilities for the bifurcated notes payable freestanding call and conversion options and for the liability-classified equity-linked contracts, both of which are classified as Level 3 of the fair value hierarchy. As of December 31, 2024, the Company reclassified derivative liabilities and liability-classified equity-linked contracts from long-term liabilities to equity. No derivative instruments were issued during the fiscal year ended June 30, 2026; accordingly, fair value measurement was not required. See Note 13 for further discussion. The Company’s fair value measurements include the valuation of the assets held-for-sale as of June 30, 2025. See Note 7 for relevant fair value disclosures.

Our investments measured at fair value on a recurring basis were as follows: Fair Value Assets Measured on Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z86TIiO8cvb2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0DTIodqBQxg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zcFEnZGIuFr3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_zn8LPLO37cz4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z9gwIVv2M6y9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zxqVrk7dm3G4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zarTkQPS3Vq8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20250630_zSYjZXJatlnc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="30" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="33"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Cash and cash equivalents (including restricted):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 28%; text-align: justify">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_z7Mij2Y9Gohc" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zlgisea24yZ8" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zaYjesdX39A5" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zy97XS9idPae" style="width: 5%; text-align: right" title="Total">9,551,679</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zn5z68Skv077" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zzB0Kw1Yb6Ti" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zUuKmBeDhWO6" style="width: 5%; text-align: right" title="Total">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashMember_zVB7QfG23mDb" style="width: 5%; text-align: right" title="Total">12,474,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Cash equivalents</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z8xMmC9CNrf1" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z2cNclgLmLce" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_z7wmVuKvcuQe" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zKLUiJkw86D2" style="border-bottom: Black 1pt solid; text-align: right" title="Total">40,767,795</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zprq1A3XNi43" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zErgXeNXhRek" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zB8lxDzvgfAb" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByAssetClassAxis__us-gaap--CashAndCashEquivalentsMember_zpJvxEnXEz5b" style="border-bottom: Black 1pt solid; text-align: right" title="Total">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zbnJsU3jqpN3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zX2MLuPJytdi" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_eus-gaap--AssetsFairValueDisclosure_iI_c20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z4qmPNKIXuO7" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--AssetsFairValueDisclosure_iI_c20260630_z2yee7TqxXqk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">50,319,474</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zyCKcuENvp35" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zQ0Lgtmiqvhh" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--AssetsFairValueDisclosure_iI_c20250630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_z9qsyWtbukQj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--AssetsFairValueDisclosure_iI_c20250630_zr6Cf0vO7Yh6" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">12,474,304</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9551679

12474304

40767795

50319474

12474304

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">y)</td> <td style="font: 10pt Times New Roman, Times, Serif">Adoption of Recent Accounting Pronouncements</td></tr> </table> The Company continually assesses new accounting pronouncements to determine their applicability. When it is determined a new accounting pronouncement affects the Company’s financial reporting, the Company undertakes a review to determine the consequences of the change to its consolidated financial statements and assures there are sufficient controls in place to ascertain the Company’s consolidated financial statements properly reflect the change. In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Improvements to Income Tax Disclosures”, which updates income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This ASU also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in this ASU are effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 during the fiscal year ended June 30, 2026. Reference footnote 17 for required disclosures. In November 2024, FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” As amended by ASU 2025-01, this guidance requires disclosures in the notes to financial statements of specified information about certain costs and expenses. It clarifies which certain costs and expenses that are included in cost of sales and selling, general, and administrative expense categories that should be disclosed with qualitative descriptions of amounts that are not separately disaggregated quantitatively. Additionally, it requires disclosure of total amounts of selling expenses and an entity’s definition of selling expense. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-10, “Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities,” which provides authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. Under this guidance, a government grant is defined as a transfer of a monetary asset or tangible nonmonetary asset from a government (other than in an exchange transaction) that is subject to conditions the entity must satisfy in order to receive the benefit. ASU 2025-10 is effective for annual periods beginning after December 15, 2028 (including interim periods therein). Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the financial statements and disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements,” to clarify the applicability, form, content, and disclosure requirements for interim financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The amendments in this update refine the guidance in ASC Topic 270 by providing a comprehensive list of required interim disclosures and codifying a disclosure principle that requires the Company to disclose events and changes that occur after the end of the most recent annual reporting period that have, or are reasonably expected to have, a material impact on its financial position, results of operations, or cash flows. ASU 2025-11 is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In December 2025, the FASB issued ASU 2025-12, “Codification Improvements,” which updates the FASB Accounting Standards Codification to clarify, correct errors, and improve the overall usability of GAAP. The improvements consist of narrow-scope amendments, technical corrections, clarification of existing guidance, and updates to clarify the appropriate scope and application of certain disclosure requirements. ASU 2025-12 is effective for annual and interim periods beginning after December 15, 2026. Early adoption is permitted. The Company is in the process of determining the effect this ASU will have on the disclosures contained in the notes to the consolidated financial statements. In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The ASU establishes guidance for the recognition, measurement, presentation, and disclosure of environmental credits and environmental credit obligations. The amendments are effective for public business entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The amendments are required to be applied retrospectively, subject to certain transition provisions. The Company is in the process of determining the effect this ASU will have on the financial statements and disclosures contained in the notes to the consolidated financial statements.

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">4.</td> <td style="font: 10pt Times New Roman, Times, Serif">Inventories</td></tr> </table> The Company’s inventory for its lithium-ion battery recycling operation is comprised of raw materials, in the form of battery feedstock, and finished goods, in the form of black mass and other metals. Inventory is valued at the lower of average cost or net realizable value. The net carrying value of inventory includes those costs to acquire battery feedstock and any related carrying and processing costs incurred by the Company. The table below presents the components of inventory as of June 30: Schedule of Inventories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zF7rC7qW1Qa5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250630_zIFcXBdKaAYl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_maINz7Qd_zotmTSDNhMZ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">330,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">216,052</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryFinishedGoods_iI_maINz7Qd_z2H5iznvj8Bj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">254,363</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">192,095</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_mtINz7Qd_zDtgfQZT9ke8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total inventories</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">584,763</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">408,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The balance of the Company’s inventory was written down by $0.9 million and $2.9 million during the fiscal years ended June 30, 2026 and 2025, respectively.

The table below presents the components of inventory as of June 30: Schedule of Inventories <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zF7rC7qW1Qa5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250630_zIFcXBdKaAYl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_maINz7Qd_zotmTSDNhMZ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">330,400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">216,052</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryFinishedGoods_iI_maINz7Qd_z2H5iznvj8Bj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">254,363</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">192,095</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_mtINz7Qd_zDtgfQZT9ke8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total inventories</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">584,763</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">408,147</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

330400

216052

254363

192095

584763

408147

900000

2900000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">5.</td> <td style="font: 10pt Times New Roman, Times, Serif">Government Grant and Tax Credit Awards</td></tr> </table> Grants receivable represent qualifying costs incurred where there is reasonable assurance that the conditions of the grant have been met but the corresponding funds have not been received as of the reporting date. As collections from the federal government have been and are expected to continue to be timely, no allowance for doubtful accounts has been established. If amounts become uncollectible, they will be charged to operations. Grants receivable was $0.2 million at June 30, 2026 and June 30, 2025, respectively. The Company recognizes invoiced government funds as an offset to research and development costs in the period the qualifying costs were incurred. Grants related to investments in property and equipment are recognized as a reduction to the cost basis of the underlying assets with an ongoing reduction to depreciation expense over the assets’ estimated useful lives. On January 20, 2021, the DOE announced that the Company had been selected for award negotiation for a three-year project with a total budget of $4.5 million for the field demonstration of its selective leaching, targeted purification, and electro-chemical production of battery grade lithium hydroxide from domestic claystone resources technology. Through this grant award the Company was eligible to receive reimbursement of up to <span id="xdx_90C_ecustom--ReimbursementGrantsEligiblePercentage_pid_dp_uPure_c20210120__20210120__srt--RangeAxis__srt--MaximumMember__us-gaap--AwardTypeAxis__custom--AMMTOGrantMember_zARh2AkJYYK1" title="Reimbursement percentage">50% of eligible expenditures, or up to $<span id="xdx_900_ecustom--ReimbursementOfEligibleExpenditure_iI_pn5n6_c20210120__srt--RangeAxis__srt--MaximumMember__us-gaap--AwardTypeAxis__custom--AMMTOGrantMember_z3fdjiDloAD" title="Reimbursement of eligible expenditure">2.3 million. The prime agreement contract for this grant was issued with a project start date of October 1, 2021. The Company began receiving funds related to this award during the fiscal year ending June 30, 2022. As of June 30, 2026, this project has been completed and the contract closed with cumulative funds invoiced totaling $<span id="xdx_90E_ecustom--GovernmentGrantCumulativeFundsInvoiced_iI_pn5n6_c20260630__us-gaap--AwardTypeAxis__custom--AMMTOGrantMember__us-gaap--AwardDateAxis__custom--OctoberOneTwoThousandTwentyOneMember_zq3hajVfchbd" title="Government grant cumulative funds invoiced">2.3 million, which represents <span id="xdx_90F_ecustom--PercentageOfNetEligibleReimbursements_iI_pid_dp_uPure_c20260630__us-gaap--AwardTypeAxis__custom--AMMTOGrantMember__us-gaap--AwardDateAxis__custom--OctoberOneTwoThousandTwentyOneMember_zgxUoY5CgDX9" title="Percentage of net eligible reimbursements">100% of the total eligible reimbursements. On August 16, 2021, the Company received a contract award for a 30-month project with a total budget of $2.0 million from the USABC as part of a competitively bid project, through which the Company received reimbursement for up to $<span id="xdx_90F_ecustom--ReimbursementOfEligibleExpenditure_iI_pn5n6_c20210816__srt--RangeAxis__srt--MaximumMember__us-gaap--AwardTypeAxis__custom--USABCGrantMember_zL6koeCI1RK2" title="Reimbursement of eligible expenditure">0.5 million of eligible expenditures. The objective of the contract award was for the commercial-scale development and demonstration of an integrated lithium-ion battery recycling system, the production of battery cathode grade metal products, the synthesis of high energy density active cathode material from these recycled battery metals, and the fabrication of large format automotive battery cells from these recycled materials and the testing of these cells against otherwise identical cells made from virgin sourced metals. The Company began receiving funds related to this award during the fiscal year ended June 30, 2022, and this contract award project concluded on September 30, 2024. As of June 30, 2026, this project has been completed and the contract closed with the cumulative funds invoiced and collected for this grant totaled $0.5 million, which represents 100% of the total eligible reimbursements. On October 21, 2022, the DOE announced that the Company had been selected for award negotiation for a five-year project with a total budget of $115.5 million to design, construct, and commission a first-of-kind lithium hydroxide refinery using Nevada-based claystone as the feedstock to expand domestic manufacturing of battery grade lithium hydroxide for lithium-ion batteries for electric vehicles, with a focus on domestic processing of materials and components that are currently imported from foreign countries. Through this grant award the Company was eligible to receive reimbursement of up to 50% of eligible expenditures, up to $57.7 million. The prime agreement contract for this grant was issued with a project start date of September 1, 2023. The Company began receiving funds related to this award during the period ending December 31, 2023. On October 9, 2025, the DOE notified the Company that the grant was terminated, effective as of the end of the budget period ending August 31, 2025. On October 10, 2025, the Company submitted an appeal of the termination and pursued informal dispute resolution remedies in connection with the termination of the grant. Over the following months, the Company and the DOE entered into a series of technical and commercial reviews of the performance of the project, culminating in a final review meeting in December 2025. After conclusion of the meeting, ABTC received notice from the DOE that the grant has been reinstated in its entirety, with no change to funds awarded or to technical and commercial milestones, and with an updated contracted project schedule to adjust for the time spent within the review process. As of June 30, 2026, the cumulative funds invoiced for this grant totaled $<span id="xdx_90F_ecustom--GovernmentGrantCumulativeFundsInvoiced_iI_pn5n6_c20260630__us-gaap--AwardDateAxis__custom--SeptemberOneTwoThousandTwentyThreeMember_zu7IlzdsLcMf" title="Government grant cumulative funds invoiced">6.3 million, which represents <span id="xdx_90C_ecustom--PercentageOfNetEligibleReimbursements_iI_pid_dp_uPure_c20260630__us-gaap--AwardDateAxis__custom--SeptemberOneTwoThousandTwentyThreeMember_zfbLBQcMdli4" title="Percentage of net eligible reimbursements">11% of the total eligible reimbursements. As of June 30, 2026, $0.1 million was an outstanding receivable on the consolidated balance sheet. On November 17, 2022, the DOE announced that the Company had been selected for award negotiation for a three-year project with a total budget of $20.0 million to demonstrate and commercialize next generation techniques for its lithium-ion battery recycling processes to produce low-cost and low-environmental impact domestic battery materials. Through this grant award the Company is eligible to receive reimbursement of up to 50% of eligible expenditures, up to $10.0 million. The prime agreement contract for this grant was issued with a project start date of October 1, 2023. The Company began receiving funds related to this award during the period ending December 31, 2023. As of June 30, 2026, the cumulative funds invoiced and collected for this grant totaled $<span id="xdx_90F_ecustom--GovernmentGrantCumulativeFundsInvoiced_iI_pn5n6_c20260630__us-gaap--AwardDateAxis__custom--OctoberOneTwoThousandTwentyThreeMember_zfuktvx93Gcc" title="Government grant cumulative funds invoiced">2.7 million, which represents <span id="xdx_901_ecustom--PercentageOfNetEligibleReimbursements_iI_pid_dp_uPure_c20260630__us-gaap--AwardDateAxis__custom--OctoberOneTwoThousandTwentyThreeMember_zt5alYk5yRAj" title="Percentage of net eligible reimbursements">27% of the total eligible reimbursements. On March 28, 2024, ABTC was selected for a tax credit for up to $19.5 million through the 48C program. This tax credit was granted by the U.S. Department of Treasury Internal Revenue Service following a competitive technical and economic review process performed by the U.S. DOE, which evaluated the feasibility of applicant facilities to advance America’s buildout of globally competitive critical material recycling, processing, and refining infrastructure. This tax credit may be utilized both for the reimbursement of capital expenditures spent to date and also future capital expenditures at ABTC’s battery recycling facility in the TRIC in Storey County, Nevada. As of June 30, 2026, the Company has incurred qualifying expenditures for this tax credit but will not recognize any amounts until it has reasonable assurance of compliance with the relevant standards. Also on March 28, 2024, ABTC was selected for an additional tax credit of up to $40.5 million through the 48C program, which may be used in support of the design and construction of a new commercial battery recycling facility to be located in the United States. As of June 30, 2026, the Company has not incurred any qualifying expenditure toward this tax credit. On September 23, 2024, the U.S. Department of Energy (“DOE”) announced that the Company had been selected for award negotiations for a competitive grant in connection with the construction of a new lithium-ion battery recycling facility. The project had a total budget of $375 million, and the Company was initially selected to negotiate a DOE grant of up to $150.0 million, with reimbursement of up to <span id="xdx_909_ecustom--PercentageOfNetEligibleReimbursements_iI_pid_dp_uPure_c20240923__dei--LegalEntityAxis__custom--USDepartmentOfEnergyMember_zVukUCVtqVbd" title="Percentage of net eligible reimbursements">40% of eligible expenditures, subject to applicable terms and conditions. On December 18, 2024, the Company received a contracted grant award providing for $143.6 million of federal investment by the DOE, of which $6.4 million was awarded directly to the Company’s subcontractor, Argonne National Laboratory (“Argonne”),. The Company began receiving funds related to this award during the period ending March 31, 2025. As of June 30, 2026, the cumulative funds invoiced and collected for this grant totaled $1.7 million, which represents <span id="xdx_90A_ecustom--PercentageOfNetEligibleReimbursements_iI_pid_dp_uPure_c20260630__dei--LegalEntityAxis__custom--USDepartmentOfEnergyMember_zcuNRW2oTpqd" title="Percentage of net eligible reimbursements">1% of the total eligible reimbursements. The table below summarizes the effects of government grants on the consolidated financial statements for the fiscal years ended June 30: Schedule of Effects of Government Grants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_z06Ek6ErA5o4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250630_z4MVK0hAokCl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--ReductionsToResearchAndDevelopmentCosts_iNI_di_maGAAAz34H_zsfbYH5xoWN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Reduction to research and development expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(3,226,753</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,087,266</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--ReductionsToPropertyAndEquipmentCosts_iNI_di_maGAAAz34H_zf6zH3QkoRLl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reduction to property and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(431,297</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(591,368</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--GovernmentAssistanceAwardAmount_iNTI_di_mtGAAAz34H_zzMcqhhlguqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total reductions due to grant reimbursements received</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,658,050</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,678,634</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table>

200000

4500000 0.50 2300000 2300000 1 2000000.0 500000 500000 1 115500000 0.50 57700000 6300000 0.11

100000

20000000.0 0.50 10000000.0 2700000 0.27

19500000

40500000

375000000

150000000.0

0.40

143600000

6400000 1700000 0.01 The table below summarizes the effects of government grants on the consolidated financial statements for the fiscal years ended June 30: Schedule of Effects of Government Grants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_z06Ek6ErA5o4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250630_z4MVK0hAokCl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--ReductionsToResearchAndDevelopmentCosts_iNI_di_maGAAAz34H_zsfbYH5xoWN9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Reduction to research and development expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(3,226,753</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,087,266</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--ReductionsToPropertyAndEquipmentCosts_iNI_di_maGAAAz34H_zf6zH3QkoRLl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reduction to property and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(431,297</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(591,368</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--GovernmentAssistanceAwardAmount_iNTI_di_mtGAAAz34H_zzMcqhhlguqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total reductions due to grant reimbursements received</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,658,050</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,678,634</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> 3226753 5087266 431297 591368

3658050

5678634

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">6.</td> <td style="font: 10pt Times New Roman, Times, Serif">Property and Equipment</td></tr> </table> The table below presents the property and equipment as of June 30: Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zlnB530dxiL7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250630_zYOmDjUkcS93" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zhF9kCLGSy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">13,080,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">11,225,956</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_z3HH1WW5id91" style="vertical-align: bottom; background-color: White"> <td>Building</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,079,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,653,019</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zZl4joeDmUAi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Construction-in-progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,481,740</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember_zRqSI7iyJxtg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Equipment and vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,400,352</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,363,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzWNF_zBNM4TA2Knh2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">69,041,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,241,975</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzWNF_zeoDNXSgPe42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,747,613</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,772,122</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzWNF_zwB8vyz8uv3f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">57,294,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">45,469,853</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Property and equipment that are purchased or constructed which require a period of time before the assets are ready for their intended use are accounted for as construction-in-progress. Construction-in-progress is recorded at acquisition cost, including installation costs. Construction-in-progress is transferred to specific property and equipment accounts and commences depreciation when these assets are put in use. As of June 30, 2026, construction-in-progress is comprised $6.5 million of improvements to the Company’s recycling facility not yet put in use and the Company’s property in Fernley, Nevada with a carrying value of $7.0 million. The Company recognized depreciation expense of $5.0 million and $5.0 million for the fiscal years ended 2026 and 2025, respectively. Depreciation expense was included in the following captions in the consolidated statements of operations for the fiscal year ended 2026 of $3.7 million in cost of sales and $1.3 million in research and development. For fiscal year 2025, there was $3.6 million in cost of sales and $1.2 million in research and development.

The table below presents the property and equipment as of June 30: Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zlnB530dxiL7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250630_zYOmDjUkcS93" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LandMember_zhF9kCLGSy8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%">Land</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">13,080,180</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">11,225,956</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingMember_z3HH1WW5id91" style="vertical-align: bottom; background-color: White"> <td>Building</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,079,532</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,653,019</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zZl4joeDmUAi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Construction-in-progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,481,740</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndVehiclesMember_zRqSI7iyJxtg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Equipment and vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,400,352</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24,363,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzWNF_zBNM4TA2Knh2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">69,041,804</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,241,975</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzWNF_zeoDNXSgPe42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,747,613</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(6,772,122</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzWNF_zwB8vyz8uv3f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">57,294,191</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">45,469,853</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

13080180

11225956

17079532

16653019

13481740

25400352

24363000

69041804

52241975

11747613

6772122

57294191

45469853

6500000

7000000.0

5000000.0

3700000

1300000

3600000

1200000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">7.</td> <td style="font: 10pt Times New Roman, Times, Serif">Assets-Held-for-Sale</td></tr> </table> At June 30, 2025, the Company classified land and a building at its Fernley, Nevada location as assets held-for-sale. On July 28, 2025, a potential buyer for such property terminated the agreement governing a proposed sale. The Company is not actively marketing the property and is making improvements to the property, including working toward securing the final certificate of occupancy and completing additional upgrades. The property, with a carrying value of approximately $7.0 million, was reclassified into property and equipment as construction-in-progress during fiscal year 2026. In fiscal year 2025, the Company reclassified certain water rights with a carrying value of $3.8 million to assets held-for-sale in the consolidated balance sheet. This reclassification followed the Company’s decision to actively market these water rights for sale to unrelated third parties. During the year ended June 30, 2026, the Company reclassified its water rights from assets held-for-sale to intangible assets, as the water rights had remained classified as held-for-sale for more than one year and, as of June 30, 2026, there was no current offer or pending transaction that supported continued classification as held-for-sale.

7000000.0

3800000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">8.</td> <td style="font: 10pt Times New Roman, Times, Serif">Mining Properties</td></tr> </table> On July 21, 2022, the Company exercised the option to purchase the rights to unpatented lode claims in Tonopah, Nevada for a total consideration of $8.2 million. In December 2023, the Company entered into a vacant land offer and acceptance agreement for the Company’s acquisition of certain mineral patents totaling $0.2 million which was capitalized to mining properties. In June 2025, the Company’s TFLP was selected by the National Energy Dominance Council and the FAST-41 Permitting Council as a Transparency Priority Project. This designation highlights the project’s role in advancing domestic critical mineral lithium production and supporting U.S. energy independence. In August 2025, the TFLP was further approved by the FAST-41 Permitting Council as a Covered Priority Project, which provided additional resources to streamlining the permitting efforts for this project. The project is featured on the FAST-41 Permitting Dashboard. On January 15, 2026, the Company purchased 88 unpatented claims adjacent to the TFLP for $0.5 million. The Company capitalizes costs incurred to acquire, explore, evaluate, and develop mineral properties once proven and probable mineral reserves have been established and the project is deemed economically and technically feasible. Prior to the establishment of proven and probable reserves, exploration and evaluation costs are expensed as incurred. Capitalized costs are recorded as mineral properties and mine development assets and are amortized using the units-of-production method over the estimated recoverable proven and probable reserves of the related mine, beginning when production commences. During fiscal years 2026 and 2025, the Company capitalized approximately $<span id="xdx_906_eus-gaap--CostsIncurredDevelopmentCosts_pn5n6_c20250701__20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_zatQvM9TYNR6" title="Mining development and related costs">1.4 million and <span id="xdx_905_eus-gaap--CostsIncurredDevelopmentCosts_pn5n6_dxL_c20240701__20250630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MineDevelopmentMember_z5mN66221lvg" title="Mining development and related costs::XDX::-">nil, respectively of mine development and related costs associated with activities that improved access to proven and probable reserves.

8200000

200000

500000

1400000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">9.</td> <td style="font: 10pt Times New Roman, Times, Serif">Intangible Assets</td></tr> </table> The Company’s acquisition of the commercial-scale battery recycling facility at the TRIC included water rights valued at $0.8 million and are described as an eighteen and forty-five one-hundredths (18.45) acre-foot/annually portion of the Truckee-Carson Irrigation District, Serial Number 1081-A-1. These have an unlimited useful life upon assignment to a property through use of a will-serve, which has no expiration date. The table below presents total intangible assets at June 30: Schedule of Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Water rights</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--WaterRightsMember_zNW44znALNyg" style="width: 18%; text-align: right" title="Water rights">4,618,592</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20250630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--WaterRightsMember_zD7E7P1tqJZg" style="width: 18%; text-align: right" title="Water rights">766,694</td><td style="width: 1%; text-align: left"> </td></tr> </table> In fiscal year 2025, the Company reclassified certain water rights with a carrying value of $<span id="xdx_90B_eus-gaap--AssetsHeldForSaleNotPartOfDisposalGroupOther_iI_pn5n6_c20250630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--WaterRightsMember_zIzX42TSzFkd" title="Assets held for sale">3.8 million to assets held-for-sale in the consolidated balance sheet. This reclassification followed the Company’s decision to actively market these water rights for sale to unrelated third parties. During the year ended June 30, 2026, the Company reclassified its water rights from assets held-for-sale to intangible assets, as the water rights had remained classified as held-for-sale for more than one year and, as of June 30, 2026, there was no current offer or pending transaction that supported continued classification as held-for-sale.

800000

18.45

The table below presents total intangible assets at June 30: Schedule of Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Water rights</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--WaterRightsMember_zNW44znALNyg" style="width: 18%; text-align: right" title="Water rights">4,618,592</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_c20250630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--WaterRightsMember_zD7E7P1tqJZg" style="width: 18%; text-align: right" title="Water rights">766,694</td><td style="width: 1%; text-align: left"> </td></tr> </table>

4618592

766694

3800000

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">10.</td> <td style="text-align: justify">Accounts Payable and Accrued Liabilities</td></tr> </table> The table below presents total accounts payable and accrued liabilities at June 30: Schedule of Accounts Payable and Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630_zubiec3fPt1j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250630_zUEreOquDhI3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsPayableTradeCurrent_iI_maAPAALzbgi_zsWeqtngfcO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Trade payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,572,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">417,195</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedFixedAssets_iI_maAPAALzbgi_zLQLmVgytPU7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets in trade payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">283,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedExpenses_iI_maAPAALzbgi_z2u3pyQkjQ18" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accrued expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,424,567</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,122,514</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_iTI_mtAPAALzbgi_zeauBkr5zTX1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total accounts payable and accrued liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,263,435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,822,987</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> As of June 30, 2026 there was one supplier that accounted for more than 10% of the Company’s total accounts payable and accrued liabilities balance. As of June 30, 2025, there were no suppliers that accounted for more than 10% of the Company’s total accounts payable and accrued liabilities balance.

The table below presents total accounts payable and accrued liabilities at June 30: Schedule of Accounts Payable and Accrued Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630_zubiec3fPt1j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250630_zUEreOquDhI3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsPayableTradeCurrent_iI_maAPAALzbgi_zsWeqtngfcO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Trade payables</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">1,572,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">417,195</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedFixedAssets_iI_maAPAALzbgi_zLQLmVgytPU7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fixed assets in trade payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">283,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedExpenses_iI_maAPAALzbgi_z2u3pyQkjQ18" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Accrued expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,424,567</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,122,514</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_iTI_mtAPAALzbgi_zeauBkr5zTX1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Total accounts payable and accrued liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">6,263,435</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">5,822,987</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

1572662

417195

266206 283278 4424567 5122514

6263435

5822987

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">11.</td> <td style="text-align: justify">Notes Payable</td></tr> </table> On August 29, 2023, the Company and High Trail (the “Buyers”) entered into a Securities Purchase Agreement (the “Purchase Agreement”), pursuant to which the Company can sell to the Buyers up to $<span id="xdx_901_eus-gaap--ProceedsFromSecuredNotesPayable_pn5n6_c20230829__20230829__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__srt--RangeAxis__srt--MaximumMember_zVSqwCyn5K3l" title="Proceeds from secured notes payable">51.0 million of a new series of senior secured convertible notes (the “Notes”), of which $<span id="xdx_90A_eus-gaap--ProceedsFromSecuredNotesPayable_pn5n6_c20230829__20230829__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zTXIb5whphli" title="Proceeds from secured notes payable">25.0 million was initially received. The Company analyzed the conversion features of the Notes for derivative accounting considerations under ASC 815-15, “Derivatives and Hedging,” and determined a freestanding call option should be bifurcated and separately accounted for as a derivative liability. Accordingly, the derivative liability is carried at fair value at each reporting date with the corresponding gain or loss reflected in earnings in the consolidated statements of operations. The Company determined the derivative liability to have a fair value of $0.4 million at issuance of the Notes. In fiscal year 2025, the Company recorded a gain of $0.7 million within the change in fair value of the derivative liability in the consolidated statements of operations. As of June 30, 2025, the fair value of the derivative liability was determined to be nil given the expiration of the freestanding call option on October 1, 2024. No derivative instruments requiring liability-classification were outstanding during the period from December 1, 2024 through June 30, 2025, and there has been no related activity since the option’s expiration; accordingly, fair value measurement was not required. The carrying value, net of debt discount and issuance costs, was being accreted over the term of the Notes from date of issuance to date of full repayment, in August 2025, based on partial redemption payments, using the effective interest rate method. On September 13, 2024, the Notes were amended to allow payment of principal totaling $0.6 million in common shares of the Company in lieu of cash, with the remaining principal due in September 2024, deferred to October 2024. Subsequent to September 30, 2024, further payment on the Notes had been deferred by the Buyers while negotiations on a potential amendment to the Notes were on-going. Total common shares of 726,216 were issued with a fair market value of $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20240913__20240913__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zZlIm5bnwJP3" title="Number of shares issued, value">0.7 million. The Notes were also amended to increase the conversion option rate. The Company concluded that the amendment to the Notes was an extinguishment for accounting purposes due to the increase in the conversion option fair value. The Company recognized a $0.7 million loss on extinguishment in the consolidated statement of operations for the fiscal year ended June 30, 2025, comprised of the write-off of the remaining debt discount and debt issuance costs of $<span id="xdx_900_eus-gaap--AmortizationOfFinancingCostsAndDiscounts_pn5n6_c20240701__20250630__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zQxytOYSLuYh" title="Extinguishment of debt written-off">0.6 million and the excess of fair value of the common shares paid in lieu of cash over the principal owed of $0.1 million. On November 14, 2024, the Purchase Agreement and Notes were amended to provide for the issuance of a new series of senior secured convertible notes (the “2024 Notes”) in the aggregate principal amount of $12.0 million, less discount totaling $2.1 million. The amendment also allowed payment of principal of the Notes totaling $<span id="xdx_906_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_pn5n6_c20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember_zTsm1xfcY9Qg" title="Principal payment">1.1 million in common shares of the Company in lieu of cash, with the remaining principal of the Notes of $<span id="xdx_90E_eus-gaap--ProceedsFromRepaymentsOfDebt_pn5n6_c20241114__20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember_zxUgln0xSRda" title="Proceeds from repayments of debt">1.8 million paid with proceeds from issuance of the 2024 Notes. The 2024 Notes bear zero coupon, mature on <span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_pid_dd_c20241114__20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember_zweKBWdLySS7" title="Maturity date">September 1, 2025, and require $5.0 million in cash to be maintained in a restricted account. The Buyers may request partial redemptions of up to an aggregate of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_pn5n6_c20241114__20241114__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember_z9parK9XUnf5" title="Debt instrument periodic payment">1.0 million on the 1st of each month beginning on January 1, 2025, with the remaining principal due on the maturity date, or the Buyers may convert the 2024 Notes into shares of common stock of the Company at a conversion rate of <span id="xdx_90E_eus-gaap--ConversionOfStockSharesConverted1_pp2d_c20241114__20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--FirstPrincipalMember_zhtU2sPKSr4k" title="Shares converted">1,333.33 shares of common stock per $<span id="xdx_901_eus-gaap--ConversionOfStockAmountIssued1_c20241114__20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--FirstPrincipalMember_zIC0hfxk0jP2" title="Conversion of stock">1,000 of principal for the first $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_iI_c20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--FirstPrincipalMember_z1CWe8xqJI1i" title="Principal amount">3,000,000 of principal, and a conversion rate of <span id="xdx_90F_eus-gaap--ConversionOfStockSharesConverted1_pp4d_c20241114__20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--RemainingPrincipaMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember_ziY9684ZzVfd" title="Conversion shares of common stock">945.0992 shares of common stock per $<span id="xdx_908_eus-gaap--ConversionOfStockAmountIssued1_c20241114__20241114__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--RemainingPrincipaMember_zsmZeluSWWK9" title="Conversion shares of common stock value">1,000 of principal for the remaining principal. The Company evaluated the amendment to the Purchase Agreement and concluded it was required to be accounted for as a troubled debt restructuring under ASC 470-60, “Troubled Debt Restructurings by Debtors,” as a concession had been granted to the Company. Per ASC 470-60, the carrying value of the Notes remained the same as before the amendment, reduced only by the fair value, $<span id="xdx_90D_eus-gaap--DebtInstrumentFairValue_iI_c20260630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--FirstPrincipalMember_zJ02ZupDrrJc" title="Fair value">1,142,580, of the common shares issued, <span id="xdx_905_eus-gaap--CommonStockSharesIssued_iI_c20260630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--DebtInstrumentAxis__custom--TwoThousandTwentyFourNotesMember__us-gaap--AwardTypeAxis__custom--FirstPrincipalMember_zDx4HbEPgXXi" title="Common stock shares issued">1,210,360, to partially settle the Notes. No gain was recognized as the future undiscounted cash flows of the restructured Notes did not exceed the carrying amount of the Notes, with the effect of the restructuring accounted for prospectively through the revised effective interest rate of 50.73%. On December 19, 2024, the 2024 Notes were amended to increase the portion of principal that is subject to the higher conversion rate of <span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20241219__20241219__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zWcfgqX9159i" title="Debt conversion, shares">1,333.33 shares of common stock per $1,000 of principal from $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20241219__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--RangeAxis__srt--MinimumMember_zDuMXIFtORb6" title="Principal amount">3.0 million to $<span id="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20241219__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--RangeAxis__srt--MaximumMember_z6yCM78qYQTk" title="Principal amount">5.0 million. The Company analyzed the embedded conversion feature of the 2024 Notes for derivative accounting considerations under ASC 815-15 and determined that it did not qualify to be bifurcated and accounted for as a derivative liability. For the fiscal year ended June 30, 2025, amortization of the debt discount of the 2024 Notes totaled $2.3 million. On March 24, 2025, the conversion rate of the 2024 Notes was amended for $2.0 million of principal payments upon which the payments were converted to common shares. The conversion rates for the remaining principal of the 2024 Notes were not amended. Total common shares of 2,284,410 were issued with a fair market value of $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20250324__20250324__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zNYE3acK6xCf" title="Number of shares issued, value">2.3 million. The amendment was accounted for as debt modification and as a result, the excess fair market value of the common shares over the principal payments was recorded as an additional debt discount. On July 18, 2025, the Buyers converted $5.0 million of the 2024 Notes into shares of common stock of the Company at a conversion rate of 1,333.33 shares of common stock per $1,000 of principal amount. Total common shares of 6,666,651 were issued with a fair market value of $16.0 million. On August 20, 2025, the Buyers converted $3.0 million of the 2024 Notes into shares of common stock of the Company at a conversion rate of 945.0992 shares of common stock per $1,000 of principal amount. Total common shares of 2,835,299 were issued with a fair market value of $6.9 million. As of June 30, 2026, because of the conversions discussed above, the carrying value of the notes payable of $8.0 million was fully extinguished, and no amounts remain outstanding under the notes. No gain or loss was recognized on the conversion.

51000000.0

25000000.0

400000

700000

600000

726216

700000

600000

100000

12000000.0

2100000

1100000

1800000

2025-09-01

5000000.0

1000000.0

1333.33

1000

3000000

945.0992

1000

1142580

1210360

0.5073

1333.33

1000

3000000.0

5000000.0

2300000

2000000.0

2284410

2300000

5000000.0

1333.33

1000

6666651

16000000.0

3000000.0

945.0992

1000

2835299

6900000

8000000.0

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">12.</td> <td style="font: 10pt Times New Roman, Times, Serif">Leases</td></tr> </table> Right-of-use (“RoU”) assets represent the Company’s right to use an underlying asset for the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. The Company determines if an arrangement is a lease at inception. RoU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Most operating leases contain renewal options that provide for rent increases based on prevailing market conditions. The terms used to calculate the RoU assets for certain properties include the renewal options that the Company is reasonably certain to exercise. The discount rate used to determine the commencement date present value of lease payments is the interest rate implicit in the lease, or when that is not readily determinable, the Company estimates a rate of 8.0% for the fiscal year ended June 30, 2026 and 2025, based primarily on historical lending agreements. RoU assets include lease payments required to be made prior to commencement and exclude lease incentives. Both RoU assets and the related lease liability exclude variable payments not based on an index or rate, which are treated as period costs. The Company’s lease agreements do not contain significant residual value guarantees, restrictions, or covenants. The Company leases office space under a non-cancelable operating lease agreement. The lease commenced December 1, 2024, and has a lease term of three years, expiring on November 30, 2027. The lease includes an option to renew for an additional two years; however, the Company is not reasonably certain to exercise the renewal option. Therefore, the renewal period has not been included in the calculation of the lease liability and the right-of-use asset in accordance with ASC 842, Leases. The Company occupies other office facilities under lease agreements that expire at various dates, many of which do not exceed a year in length. The Company does not have any finance leases as of June 30, 2026 and 2025. Operating lease right-of-use assets are presented within the asset section of the Company’s consolidated balance sheets, while lease liabilities are included within the liability section of the Company’s consolidated balance sheets at June 30, 2026 and June 30, 2025. The table below presents information related to the components of lease expense for the fiscal years ended June 30, 2026 and 2025, respectively: Schedule of Lease Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250701__20260630_zr5yas1FXWw7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240701__20250630_zWHgOcA8LRFg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_zINNX7l30rl3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">836,341</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">361,169</td><td style="width: 1%; text-align: left"> </td></tr> </table> The table below presents total operating lease RoU assets and lease liabilities at June 30: Schedule of Operating Lease ROU Assets and Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zrbDQce1i6Z5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630_z1W65EtxFwNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zly5ZlMsvn02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Operating lease right-of-use asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">173,609</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">296,157</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_zV9cLdm3Trf9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">190,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">306,026</td><td style="text-align: left"> </td></tr> </table> The table below presents the maturities of operating lease liabilities as of June 30, 2026: Schedule of Maturity of Operating Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20260630_z9AoeNytdQH2" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzIwj_zjm85yHAaNcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">June 30, 2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">141,810</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzIwj_ztkcWOIiKf4h" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">June 30, 2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,059</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzIwj_zELYhV7nKBr7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zswAzHEdhiW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,706</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_zxmhSWjiQ5ck" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">190,163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zvESg9bvFun7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">131,287</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zzInoNQ0bPe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities, non-current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">58,876</td><td style="text-align: left"> </td></tr> </table> The table below presents the weighted average remaining lease term for operating leases and the weighted average discount rate used in calculating operating lease right-of-use asset as of June 30, 2026. Schedule of Weighted Average Remaining Lease Term for Operating Leases and Weighted Average Discount Rate <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Weighted average lease term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.42</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.00</td><td style="text-align: left">%</td></tr> </table>

The table below presents information related to the components of lease expense for the fiscal years ended June 30, 2026 and 2025, respectively: Schedule of Lease Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250701__20260630_zr5yas1FXWw7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20240701__20250630_zWHgOcA8LRFg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_zINNX7l30rl3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">836,341</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">361,169</td><td style="width: 1%; text-align: left"> </td></tr> </table>

836341

361169

The table below presents total operating lease RoU assets and lease liabilities at June 30: Schedule of Operating Lease ROU Assets and Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zrbDQce1i6Z5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630_z1W65EtxFwNj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseRightOfUseAsset_iI_zly5ZlMsvn02" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left">Operating lease right-of-use asset</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">173,609</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">296,157</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_zV9cLdm3Trf9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">190,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">306,026</td><td style="text-align: left"> </td></tr> </table>

173609

296157

190163

306026

The table below presents the maturities of operating lease liabilities as of June 30, 2026: Schedule of Maturity of Operating Lease Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20260630_z9AoeNytdQH2" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzIwj_zjm85yHAaNcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">June 30, 2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">141,810</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzIwj_ztkcWOIiKf4h" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">June 30, 2028</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60,059</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzIwj_zELYhV7nKBr7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">201,869</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zswAzHEdhiW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,706</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiability_iTI_zxmhSWjiQ5ck" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">190,163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseLiabilityCurrent_iI_zvESg9bvFun7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">131,287</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_zzInoNQ0bPe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating lease liabilities, non-current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">58,876</td><td style="text-align: left"> </td></tr> </table>

141810

60059

201869

11706

190163

131287

58876

The table below presents the weighted average remaining lease term for operating leases and the weighted average discount rate used in calculating operating lease right-of-use asset as of June 30, 2026. Schedule of Weighted Average Remaining Lease Term for Operating Leases and Weighted Average Discount Rate <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">Weighted average lease term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.42</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8.00</td><td style="text-align: left">%</td></tr> </table>

P1Y5M1D

0.0800

<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="text-align: justify; width: 0.25in">13.</td> <td style="text-align: justify">Derivative Liabilities</td></tr> </table> During the six months ended December 31, 2024 the Company’s embedded conversion feature on its convertible notes and its outstanding warrants were treated as derivative liabilities for accounting purposes under ASC 815-40, “Derivatives and Hedging – Contracts in Entity’s Own Equity,” (“ASC 815-40”) due to insufficient authorized shares to settle these outstanding equity-linked contracts, while the terms of these instruments still allowed the holders to exercise which would require the Company to net-cash settle the instrument. In such cases, the Company adopted a sequencing approach under ASC 815-40 to determine the classification of its equity-linked financial instruments at issuance and at each subsequent reporting date. Under this sequencing policy, the Company reclassified to liabilities those equity-linked financial instruments with the most recent issuance or modification date. The derivative liabilities were initially recorded at fair value and subsequently re-valued each reporting date, with changes in fair value reported in the consolidated statements of operations. The Company utilized the Black-Scholes option-pricing model to value the derivative liabilities at initial reclassification and subsequent valuation dates, adjusted for instrument-specific terms as applicable. In August 2024, the Company issued common shares and warrants to purchase common shares under private placement subscription agreements. See further discussion at Note 14. As there were insufficient authorized shares available at the time of issuance, the warrants were classified as derivative liabilities, measured at fair value as of issuance, and re-measured to fair value as of September 30, 2024. Of the $<span id="xdx_900_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_z8cWVbp8HPBe" title="Proceeds from private placement">1.9 million in proceeds received from the private placement, $<span id="xdx_906_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_znT6ZXxlf5qk" title="Proceeds from issuance">0.6 million was received from related parties of the Company, including current employees and an immediate family member of the Chief Executive Officer. The Company recognized common shares and warrants to purchase common shares with a total fair value of $<span id="xdx_904_eus-gaap--StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zwfV3rbicaoa" title="Common shares and warrants to purchase common shares total fair value">1.4 million, compensation expense of $<span id="xdx_90E_eus-gaap--ShareBasedCompensation_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_z7CqeULKP6Mh" title="Share based compensation">0.7 million and a loss on private placement of $<span id="xdx_903_ecustom--GainsLossesOnPrivatePlacement_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_za8BKmWXnn25" title="Loss on private placement">0.1 million in the consolidated statements of operations. The Company recognized less than a $0.1 million loss on change in fair value of these liability-classified equity-linked financial instruments. For the remaining private placement subscription agreements, the Company recognized the fair value of the warrants of $<span id="xdx_905_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zhbWTtHdmdpl" title="Fair value of warrants">1.7 million and a loss on private placement of $<span id="xdx_90B_eus-gaap--PaymentsForRepurchaseOfPrivatePlacement_pn5n6_c20240801__20240831__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zmOr1TtbqU76" title="Loss in private placement">0.6 million as of issuance, and a fair value of $<span id="xdx_908_eus-gaap--FairValueAdjustmentOfWarrants_pn5n6_c20240701__20240930__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zAZS4vJs8Hre" title="Fair value of warrants">1.7 million as of September 30, 2024, with the loss on change in fair value of less than $<span id="xdx_905_ecustom--GainsLossesOnPrivatePlacement_pn5n6_c20240701__20240930__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zDnHv43MuQt4" title="Loss on private placement">0.1 million recorded to change in fair value of liability-classified equity-linked contracts in the consolidated statements of operations. The associated derivative liability was included in long-term liabilities in the consolidated balance sheets. In November 2024, a portion of the private placement subscription agreements were rescinded. Prior to rescission, a gain of $<span id="xdx_90D_eus-gaap--DerivativeGainLossOnDerivativeNet_pn5n6_c20241101__20241130__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--DerivativeInstrumentRiskAxis__custom--WarrantLiabilityMember_zwOk16KUzgJf" title="Revalutaion of warrant liability">0.3 million was recognized upon revaluation of the warrant liability, reducing the warrant liability from $<span id="xdx_90F_ecustom--WarrantLiabilities_iI_pn5n6_c20241130__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__srt--RangeAxis__srt--MaximumMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z4uYWD4H8tS4" title="Warrant liability">1.2 million to $<span id="xdx_904_ecustom--WarrantLiabilities_iI_pn5n6_c20241130__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__srt--RangeAxis__srt--MinimumMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeqRNlEIzgIe" title="Warrant liability">0.9 million. A gain of less than $<span id="xdx_90F_eus-gaap--DerivativeGainLossOnDerivativeNet_pn5n6_c20241101__20241130__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zBuCjgVHpDM2" title="Gain on warrant liability">0.1 million was recognized upon extinguishment of the warrant liability at the rescission date. A payable of $<span id="xdx_908_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_iI_pn5n6_c20241231__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zZ4gB10vo1m6" title="Accounts payable and accrued liabilities">0.9 million is included in accounts payable and accrued liabilities on the consolidated balance sheet as of December 31, 2024, for the return of the subscription agreement proceeds to the investors. In September 2024, the Company’s convertible notes were amended to increase the conversion rate of the conversion option. See further discussion at Note 11. Upon modification, the Company no longer had sufficient authorized shares to settle all equity-linked contracts including the convertible notes upon a potential conversion and accordingly, the embedded conversion feature was bifurcated from the convertible notes to be accounted for as a derivative liability. The Company calculated a fair value of the bifurcated conversion feature of $0.7 million as of the modification date and a fair value of $0.9 million as of September 30, 2024, with the loss on change in fair value of $0.2 million recorded to change in fair value of liability-classified financial instruments in the consolidated statements of operations. In November 2024, the Company’s shareholders approved and adopted an amendment to the articles of incorporation to increase the number of authorized shares of the Company’s common stock from 80,000,000 to 250,000,000. Upon the increase, the Company had sufficient authorized shares available to settle all equity-linked contracts including the convertible notes and warrants to purchase common shares included in derivative liabilities. As a result, the Company revalued the bifurcated conversion feature and the warrants to purchase common shares as of the shareholder approval date and reclassified the associated derivative liabilities from long-term liabilities to additional paid-in capital in the consolidated balance sheets. The Company recognized a $0.8 million gain on change in fair value of the derivative liabilities prior to the reclassification to equity from long-term liabilities. The amount reclassed to equity totaled $2.1 million. During the period from December 31, 2024 through June 30, 2026, there was no activity related to the Company’s derivative liability instruments and the balance of derivative liabilities remained unchanged throughout this period. <p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zeTSrGMcYTAc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below sets forth the Black-Scholes inputs and assumptions for the Company’s valuation and re-valuation of its derivative liabilities for the period ending June 30: Schedule of Black-Scholes Inputs and Assumptions for valuation and Re-valuation of its Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Weighted average expected term (years)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zAR3bjVcTLn1" title="Weighted average expected term (years)">0.01 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zKBvcXB3EG59" title="Weighted average expected term (years)">5.00</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free interest rate</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zTPCU4zN6dTa" title="Risk-free interest rate">3.47 – <span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zuN2JCvOxHY2" title="Risk-free interest rate">5.47</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: justify">Dividend yield</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right"><span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zAhRt8BXx3y9" title="Dividend yield">0</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zUDYtA29xwR8" title="Derivative liability measurement input">6.69% - <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zWWwsrt1NH59" title="Derivative liability measurement input">137.84</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> </table>

1900000

600000

1400000

700000

100000 100000

1700000

600000

1700000

100000

300000

1200000 900000

100000

900000

700000

900000 200000

80000000

250000000

800000

2100000

<p id="xdx_899_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zeTSrGMcYTAc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below sets forth the Black-Scholes inputs and assumptions for the Company’s valuation and re-valuation of its derivative liabilities for the period ending June 30: Schedule of Black-Scholes Inputs and Assumptions for valuation and Re-valuation of its Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Weighted average expected term (years)</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zAR3bjVcTLn1" title="Weighted average expected term (years)">0.01 – <span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MaximumMember_zKBvcXB3EG59" title="Weighted average expected term (years)">5.00</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Risk-free interest rate</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zTPCU4zN6dTa" title="Risk-free interest rate">3.47 – <span id="xdx_907_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zuN2JCvOxHY2" title="Risk-free interest rate">5.47</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: justify">Dividend yield</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: right"><span id="xdx_90C_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zAhRt8BXx3y9" title="Dividend yield">0</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MinimumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zUDYtA29xwR8" title="Derivative liability measurement input">6.69% - <span id="xdx_905_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20250630__srt--RangeAxis__srt--MaximumMember__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zWWwsrt1NH59" title="Derivative liability measurement input">137.84</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> </table>

0.01

5.00

3.47

5.47

6.69

137.84

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">14.</td> <td style="font: 10pt Times New Roman, Times, Serif">Stockholders’ Equity</td></tr> </table> Preferred Stock The Company’s amended and restated articles of incorporation authorize shares of preferred stock and provide that shares of preferred stock may be issued from time to time in one or more series. The Company’s board of directors (the “Board of Directors”) is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. The Board of Directors is able to, without stockholder approval, issue shares of preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the common stock and could have anti-takeover effects. The ability of the Board of Directors to issue shares of preferred stock without stockholder approval could have the effect of delaying, deferring, or preventing a change of control of the Company or the removal of existing management. To date, the Company has authorized a total of 1,666,667 shares of preferred stock. Of this amount the Company has designated a total of <span id="xdx_908_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__custom--SeriesABCAndDPreferredStockMember_zeu1b2OcMmNl" title="Preferred stock shares authorized">233,340 shares to four classes of preferred stock, Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock. A description of each class of preferred stock is listed below. Series A Preferred Stock The Company has <span id="xdx_901_eus-gaap--PreferredStockSharesAuthorized_iI_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zFuwfzghm6b7" title="Preferred stock, shares authorized"><span id="xdx_904_eus-gaap--PreferredStockSharesAuthorized_iI_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zC4EPLwBeXz6" title="Preferred stock, shares authorized">33,334 shares of Series A Preferred Stock authorized with a par value of $<span id="xdx_90D_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zwBOzUjT7QA3" title="Preferred stock, par value"><span id="xdx_90A_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zvxzlxstfsj" title="Preferred stock, par value">0.001 per share. The Company had <span id="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zh6PCVk75mpj" title="Preferred stock, shares issued::XDX::-"><span id="xdx_90A_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z57wug63OTV6" title="Preferred stock, shares outstanding::XDX::-"><span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zNFzCoJIB6z6" title="Preferred stock, shares issued::XDX::-"><span id="xdx_908_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zcTSto12WaQj" title="Preferred stock, shares outstanding::XDX::-">nil shares of Series A Preferred Stock issued and outstanding on June 30, 2026 and June 30, 2025. Series B Preferred Stock The Company has <span id="xdx_902_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zLQQRfDJ3IG2" title="Preferred stock, shares authorized"><span id="xdx_901_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zSIhFRR7aRlk" title="Preferred stock, shares authorized">133,334 shares of Series B Preferred Stock authorized with a par value of $<span id="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zAQ4tEDgxQI7" title="Preferred stock, par value"><span id="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zzqZp6tsg07a" title="Preferred stock, par value">10.00 per share. The Company had <span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zYo1xh8zbDla" title="Preferred stock, shares issued::XDX::-"><span id="xdx_90B_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z915vlnMLmDh" title="Preferred stock, shares outstanding::XDX::-"><span id="xdx_90B_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesAPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zNivNOwWbg6l" title="Preferred stock, shares issued::XDX::-"><span id="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zz3J2uHaP8Ql" title="Preferred stock, shares outstanding::XDX::-">nil shares of Series B Preferred Stock issued and outstanding on June 30, 2026 and June 30, 2025. Series C Preferred Stock The Company has <span id="xdx_90B_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_z9hqjFYExvN8" title="Preferred stock, shares authorized"><span id="xdx_908_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zUzr2s3asrhe" title="Preferred stock, shares authorized">66,667 shares of Series C Preferred Stock authorized with a par value of $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zGRoQz44bIuc" title="Preferred stock, par value"><span id="xdx_90A_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zt0oh5e4mrK" title="Preferred stock, par value">10.00 per share. The Company had <span id="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zhceMw0Iq4A" title="Preferred stock, shares issued::XDX::-"><span id="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zRdGhyMa2pkc" title="Preferred stock, shares outstanding::XDX::-"><span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zgUOzGGzSyF8" title="Preferred stock, shares issued::XDX::-"><span id="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zYH4BkoT8IF6" title="Preferred stock, shares outstanding::XDX::-">nil shares of Series C Preferred Stock issued and outstanding on June 30, 2026 and June 30, 2025. Series D Preferred Stock The Company has <span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zKtdSmXsrv3j" title="Preferred stock, shares authorized"><span id="xdx_90D_eus-gaap--PreferredStockSharesAuthorized_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zFn4Qrt7ddEd" title="Preferred stock, shares authorized">5 shares of Series D Preferred Stock authorized with a par value of $<span id="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_znnG4xHwE8Kj" title="Preferred stock, par value"><span id="xdx_906_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zxsDEiLI3xyk" title="Preferred stock, par value">0.001 per share. The Company had <span id="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zP5NH2SP6mEj" title="Preferred stock, shares issued::XDX::-"><span id="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20260630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zoAiwmVEevF2" title="Preferred stock, shares outstanding::XDX::-"><span id="xdx_90D_eus-gaap--PreferredStockSharesIssued_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zXlmtSjGwS1b" title="Preferred stock, shares issued::XDX::-"><span id="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_dxL_c20250630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zXamQfop3xcf" title="Preferred stock, shares outstanding::XDX::-">nil shares of Series D Preferred Stock issued and outstanding on June 30, 2026 and June 30, 2025. Common Stock In November 2024, the Company’s shareholders approved and adopted an amendment to the articles of incorporation to increase the number of authorized shares of the Company’s common stock from 80,000,000 to 250,000,000. Fiscal Year ended June 30, 2026: During fiscal year 2026, the Company issued <span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20250701__20260630__srt--TitleOfIndividualAxis__custom--ProfessionalServiceProvidersMember_zbJkXmZwevjc" title="Shares issued for professional services, shares">6,339,908 common shares, respectively, upon the vesting of share-based awards. On April 3, 2024, the Company entered into an ATM sales agreement with Virtu Americas LLC, pursuant to which the Company may offer and sell, from time to time through the sales agent, shares (the “Shares”) of the Company’s common stock, par value $0.001 per share, subject to the terms and conditions of the Sales Agreement. On September 19, 2025, the Company filed a prospectus supplement to its registration statement on Form S-3 (File No. 333-252492) related to the offer and sale from time to time of the Shares having an aggregate offering price of up to $50,000,000. On November 7, 2025, the Company filed an automatic registration statement on Form S-3ASR (File No. 333-291387), which included a prospectus supplement that increased the amount of Shares that could be offered and sold from time to time to an aggregate offering price up to $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20251107__20251107__dei--LegalEntityAxis__custom--VirtuAmericasLLCMember__srt--RangeAxis__srt--MaximumMember_znmtsdckJ7fc" title="Aggregate offering price">100,000,000. During the fiscal year ended June 30, 2026, the Company sold 18,528,078 Shares pursuant to the ATM sales agreement, for total net proceeds of $64.9 million. In addition, the Company settled the issuance of 572,307 common shares for a total of $0.9 million that was included in subscriptions receivable as of June 30, 2025. On July 23, 2025, one of the Company’s institutional investors exercised 4,000,000 common stock warrants at an exercise price of $1.10 per share. The warrant exercise resulted in gross proceeds of approximately $4.4 million to the Company. The shares were issued in accordance with the original warrant terms. On October 13, 2025, one of the Company’s institutional investors exercised 1,886,793 common stock warrants at an exercise price of $2.80 per share. The warrant exercise resulted in gross proceeds of approximately $5.3 million to the Company. The shares were issued in accordance with the original warrant terms. On October 27, 2025, a holder of warrants exercised 250,000 common stock warrants at an exercise price of $1.00 per share. The warrant exercise resulted in gross proceeds of approximately $0.3 million to the Company. The shares were issued in accordance with the original warrant terms. On November 10, 2025, a holder of warrants exercised 50,000 common stock warrants at an exercise price of $1.00 per share. The warrant exercise resulted in gross proceeds of approximately $50,000 to the Company. The shares were issued in accordance with the original warrant terms. During the three months ended December 31, 2025, holders of warrants exercised right to purchase an aggregate of <span id="xdx_90E_ecustom--StockIssuedDuringPeriodDueToExerciseOfWarrants_c20251001__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zrCsjopXZysg" title="Stock issued during the period due to exercise of warrants">3,287,875 shares of the Company’s common stock exercised their warrants on a cashless basis in accordance with the terms of the warrant agreements. In connection with the cashless exercises, the Company issued an aggregate of <span id="xdx_90A_ecustom--StockIssuedDuringSharesPeriodDueToCashlessExercises_c20251001__20251231__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zguMSoqPAN4f" title="Stock issued during the period due to cashless exercises">2,817,478 shares of common stock and no cash proceeds were received. The Company issued 9,501,950 common shares to the Note holders pursuant to the debt conversion option in lieu of cash payment of $8.0 million (see Note 11). The carrying value of the common shares issued of $8.0 million was recorded in additional paid-in capital. Fiscal year ended June 30, 2025: During the fiscal year 2025, the Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240701__20250630__srt--TitleOfIndividualAxis__custom--ProfessionalServiceProvidersMember_zguD8hO1uQg3" title="Shares issued for professional services, shares">3,407,702 common shares upon vesting of share-based awards. On July 22, 2024, the Board of Directors authorized and approved to extend the expiration date to April 30, 2025 for 600,000 certain warrants with an exercise price of $1.125 issued in connection with a previous equity offering which were previously scheduled to expire on October 31, 2024. Of the 600,000 warrants, 200,000 warrants are held by Ryan Melsert, Chief Executive Officer. The modification of the warrants resulted in incremental fair value of $0.1 million as of the modification date, of which less than $0.1 million was recognized as stock-based compensation expense for those warrants held by the Chief Executive Officer and the remainder as a deemed dividend per the requirements of ASC 815-40, “Derivatives and Hedging – Contracts in Entity’s Own Equity.” The Company utilized a Black-Scholes option-pricing model to determine the incremental fair value with assumptions including volatility of 100.47% and a risk-free rate of 5.06%. On August 1, 2024, the Company agreed to sell in a private placement 53 Group A Units (defined below) to several accredited investors and 23 Group B Units to the Company’s new Chief Operating Officer, to an immediate family member of the Chief Executive Officer, and to two current employees, a portion of which was rescinded on November 12, 2024 (see Note 6), resulting in the sale of a total of only 18 Group A Units and 23 Group B Units in such private placement. Each “Group A Unit” consists of <span id="xdx_900_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_zIpvVEk9iHIf" title="Sale of stock, shares">25,000 shares of Common Stock, <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_zbVBzeSOob94" title="Sale of warrants, shares">25,000 Series A warrants with a <span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_z12WIch9NsM8" style="display: none" title="warrants term">5five-year term to purchase Common Stock (“Series A Warrants”) and <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_zBv5SywK3Bl4" title="Sale of warrants, shares">25,000 Series B Warrants with an <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtM_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesBWarrantsMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_z57Yu6yLsuUi" title="Warrants term">18-month term to purchase Common Stock (collectively with the Series A Warrants, the “Warrants”) with a purchase price of $<span id="xdx_901_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__srt--TitleOfIndividualAxis__custom--FamilyMembersMember_z4PW2XqlbzIj" title="Sale of Stock, consideration received">25,000 per Unit; each “Group B Unit” consists of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_z7LDNkMGWP29" title="Sale of stock, shares">19,531 shares of Common Stock and <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_z1ApENrhyR8b" title="Sale of warrants, shares">39,062 Series A Warrants with a <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__us-gaap--StatementEquityComponentsAxis__custom--SeriesAWarrantsMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_zcGxMUFShIXc" style="display: none" title="warrants term">5five-year term and a purchase price of U.S. $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_zuF4k89Ak9f" title="Sale of Stock, consideration received">25,000 per Unit. The Company received an initial payment of approximately $<span id="xdx_90F_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_pn5n6_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_z54sB418FMYc" title="Sale of Stock, consideration received">1.9 million but after the rescission retained only an aggregate purchase price of $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20240801__20240801__us-gaap--TypeOfArrangementAxis__custom--PrivatePlacementSubscriptionAgreementMember_zYI9n7f5G98a" title="Sale of stock, value">1.0 million. Upon issuance of the common stock and warrants in the private placement, the Company concluded that it had insufficient authorized shares to settle the warrants sold as well as certain previously issued warrants (see Note 13). As the warrants were therefore accounted for as derivative liabilities and remeasured at fair value each reporting period (see Note 13), the Company allocated the proceeds first to the warrants with any residual proceeds allocated to the common shares. A day-one loss is recognized to the extent the recognized fair value of common shares and warrants exceeds the proceeds received. In February 2025, investors purchased 35 units at a purchase price of $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedPerTransaction_c20250228__20250228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zPg9VI1QVUAj" title="Sale of stock, consideration received">25,000 per unit, with each unit consisting of <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250228__20250228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zIvVEi0FFdB1" title="Sale of stock, shares">26,316 shares of common stock and <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250228__20250228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z8WmjkrjDEIh" title="Sale of stock, shares">52,632 warrants to purchase common stock. The payable of $<span id="xdx_906_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_iI_pn5n6_c20250228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_z3btKMe8qyNe" title="Accounts payable and accrued liabilities">0.9 million previously included in accounts payable and accrued liabilities, as of December 31, 2024, for the return of the subscription agreement proceeds to these investors (see Note 6) was recognized in additional paid-in capital for the $<span id="xdx_90A_ecustom--StockIssuedDuringPeriodValuePursuantToSubscriptionAgreements_pn5n6_c20250228__20250228__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--StatementEquityComponentsAxis__us-gaap--AdditionalPaidInCapitalMember_zFBLf2mvHwi9" title="Issuance of common shares and warrants pursuant to subscription agreements">0.9 million purchase price of the 35 units. During fiscal year 2025, the Company issued 4,220,986 common shares to the Note holders pursuant to the debt conversion option in lieu of cash payment of $3.6 million (see Note 12). The fair value of the common shares issued of $4.2 million was recorded in additional paid-in capital for this transaction. On November 13, 2024, the Company’s shareholders approved the Company’s 2024 Employee Stock Purchase Plan (the “2024 ESPP”). The 2024 ESPP provides the Company’s employees with the ability to contribute a portion of their earnings to purchase the Company’s shares of common stock. Pursuant to the terms of the 2024 ESPP, the Company’s executive officers and all of its other employees will be allowed to participate in the 2024 ESPP. During the period, employees purchased <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans_c20241113__20241113__us-gaap--TypeOfArrangementAxis__custom--TwentyTwentyFourEmployeeStockPurchasePlanMember_zh0GDPKLDUC" title="Employee stock purchase plan, shares">389,349 shares under the 2024 ESPP with an aggregate purchase price of $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueEmployeeStockPurchasePlan_pn5n6_c20241113__20241113__us-gaap--TypeOfArrangementAxis__custom--TwentyTwentyFourEmployeeStockPurchasePlanMember_zAdmegNBvIZ9" title="Employee stock purchase plan, value">0.3 million. On December 23, 2024, the Company entered into a securities purchase agreement with two institutional investors including the Buyers for the purchase and sale of (i) <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241223__20241223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zA4x3Iajvgkg" title="Shares issued">5,000,000 shares its common stock, and (ii) warrants exercisable for up to an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z3JIMj5q48Hf" title="Class of warrant or right, outstanding">5,000,000 shares of common stock for a combined offering price of $<span id="xdx_90D_eus-gaap--SharePrice_iI_pid_c20241223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztIZXiF47ZXc" title="Offering price">1.00 per share and accompanying warrant. The warrants have an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zAmojWTawde" title="Warrants exercise price">1.10 per share, are <span id="xdx_902_ecustom--InitialExerciseDateDescription_c20241223__20241223__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z0g5kLPs40s2" title="Initial exercise date description">exercisable immediately from the date of issuance and expire five years from the initial exercise date. On December 27, 2024, the Company entered into another securities purchase agreement with two institutional investors including the Buyers for the purchase and sale of (i) <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241227__20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_ztITDn9XbX81" title="Shares issued">3,773,586 shares of its common stock, and (ii) warrants exercisable for up to an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zmveGdhLBe7" title="Class of warrant or right, outstanding">3,773,586 shares of common stock for a combined offering price of $<span id="xdx_908_eus-gaap--SharePrice_iI_pid_c20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z9fOZF1m2Hu9" title="Offering price">2.65 per share and accompanying warrant. The warrants have an exercise price of $<span id="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zlW54cyN1LP3" title="Warrants exercise price">2.80 per share, will be <span id="xdx_90C_ecustom--InitialExerciseDateDescription_c20241227__20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z5AnyHw9z4F6" title="Initial exercise date description">exercisable immediately from the date of issuance and will expire five years from the initial exercise date. The Company received total proceeds from both December 2024 securities purchase agreements of $<span id="xdx_90F_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20241227__20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zyMTLQQBMyD5" title="Total proceeds">15.0 million, net of offering costs of $<span id="xdx_903_eus-gaap--DeferredOfferingCosts_iI_pn5n6_c20241227__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__srt--TitleOfIndividualAxis__custom--TwoInstitutionalInvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zafuXELnvWik" title="Net offering costs">1.1 million, which were recorded to additional paid-in capital as the Company determined the warrants met the equity classification criteria. <p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zb1iLEitykV3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company had the following potentially dilutive shares outstanding as of June 30: Schedule of Potentially Dilutive Shares Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250701__20260630_z4O59PBtJdie" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240701__20250630_zCM7gvrYwbta" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zxpzooViGb8c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,501,948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_zP8nMdaVxWe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,181,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ShareAwardsOutstandingMember_zoh2bYS1qYQ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Share awards outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,981,382</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,583,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zsCpVkzvHV09" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total potentially dilutive</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">32,163,372</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">35,465,564</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

1666667

233340

33334

0.001

133334

10.00

66667

10.00

0.001

80000000

250000000

6339908

0.001

50000000

100000000

18528078

64900000

572307

900000

4000000

1.10

4400000

1886793

2.80

5300000

250000

1.00

300000

50000

1.00

50000

3287875 2817478

9501950

8000000.0

3407702

600000

1.125

600000

200000

100000

1.0047

0.0506

25000

P5Y

25000

P18M

25000

19531

39062

P5Y

25000

1900000

1000000.0

25000

26316

52632

900000

4220986

3600000

4200000

389349

300000

5000000

1.00

1.10

exercisable immediately from the date of issuance and expire five years from the initial exercise date.

3773586

2.65

2.80

exercisable immediately from the date of issuance and will expire five years from the initial exercise date.

15000000.0

1100000

<p id="xdx_898_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zb1iLEitykV3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company had the following potentially dilutive shares outstanding as of June 30: Schedule of Potentially Dilutive Shares Outstanding <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250701__20260630_z4O59PBtJdie" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20240701__20250630_zCM7gvrYwbta" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ConvertibleNoteMember_zxpzooViGb8c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Convertible notes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">9,501,948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_zP8nMdaVxWe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,181,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380,150</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ShareAwardsOutstandingMember_zoh2bYS1qYQ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Share awards outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">12,981,382</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,583,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_zsCpVkzvHV09" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total potentially dilutive</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">32,163,372</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">35,465,564</td><td style="font-weight: bold; text-align: left"> </td></tr> </table>

9501948

19181990

17380150

12981382

8583466

32163372

35465564

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">15.</td> <td style="font: 10pt Times New Roman, Times, Serif">Share Purchase Warrants </td></tr> </table> During fiscal year 2026, there were <span id="xdx_901_ecustom--StockIssuedDuringPeriodSharesWarrantExercised_c20250701__20260630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zb4cruzF7a0d" title="Common shares issued related to warrants exercised">9,004,271 common shares issued related to warrants exercised. During fiscal year 2025, there were 14,360,308 total warrants issued. The Company issued <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240701__20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--TitleOfIndividualAxis__custom--EmployeesMember_z6sRZpQ0nkIg" title="Warrants to the private placement shares">3,548,426 warrants pursuant to the Private Placement (see Note 14), of which 898,426 warrants were purchased by employees of the Company, <span id="xdx_905_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250630__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zl2Ydc7HeQG" title="Warrants issued">900,000 were purchased by accredited investors, and <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20241130__20241130__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_z2ljeyZO1cK5" title="Cancellation of warrants">1,750,000 warrants were cancelled per the rescission agreement executed with certain investors in November 2024 (see Note 13). The Company also issued <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zXJZPFJyNtl3" title="Warrants with securities purchase agreement">8,773,586 warrants in December 2024 in connection with the securities purchase agreements (see Note 14). The Company issued 196,176 warrants under its compensation arrangements (see Note 16). In February 2025, the Company issued <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20250228__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zCHvNKddePX1" title="Warrants issued">1,842,120 warrants to accredited investors that had previously rescinded private placement agreements (see Note 14). <p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zSLXC2JAblr8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> Schedule of Share Purchase Warrants Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Balance, June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240701__20250630_z2cmzp5Bvb6b" style="width: 12%; text-align: right" title="Number of warrants, Beginning Balance">6,928,758</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iS_pid_c20240701__20250630_z6RosgMGYfM" style="width: 12%; text-align: right" title="Weighted average exercise price, Beginning Balance">12.95</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240701__20250630_z0eHS5Tp4X81" style="text-align: right" title="Number of warrants, Granted">14,360,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceGranted_pid_c20240701__20250630_zu2hrFcNTomi" style="text-align: right" title="Weighted average exercise price, Granted">1.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Rescinded</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_di_c20240701__20250630_zVbe9Jvh5577" style="text-align: right" title="Number of warrants, Rescinded">(1,750,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceRescinded_pid_c20240701__20250630_zFwD9ZbXhXu2" style="text-align: right" title="Weighted average exercise price, Rescinded">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20240701__20250630_z3so0Il5MX01" style="text-align: right" title="Number of warrants, Exercised">(416,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercised_pid_c20240701__20250630_zdmplRX0dFa2" style="text-align: right" title="Weighted average exercise price, Exercised">1.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20240701__20250630_z18WH0IWxy6a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, Expired">(1,742,246</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExpired_pid_c20240701__20250630_zovg9YTZFKkh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">10.46</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20250701__20260630_zG4gfUsS5CD5" style="text-align: right" title="Number of warrants, Beginning Balance">17,380,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iS_pid_c20250701__20260630_zkcyBqYI5pE6" style="text-align: right" title="Weighted average exercise price, Beginning Balance">5.28</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20250701__20260630_zijfPPwzgFd3" style="text-align: right" title="Number of warrants, Granted">11,492,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceGranted_pid_c20250701__20260630_zIB27RuxqH9" style="text-align: right" title="Weighted average exercise price, Granted">1.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20250701__20260630_zblzEARToWE6" style="text-align: right" title="Number of warrants, Exercised">(9,474,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercised_pid_c20250701__20260630_zTBWvWIDl1nc" style="text-align: right" title="Weighted average exercise price, Exercised">1.41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_di_c20250701__20260630_zGlha3Xk3ba7" style="text-align: right" title="Number of warrants, Forfeited">(166,378</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceRescinded_pid_c20250701__20260630_zyXQKvmVxlwd" style="text-align: right" title="Weighted average exercise price, Forfeited">4.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20250701__20260630_zercVzsH44Ok" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, Expired">(50,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExpired_pid_c20250701__20260630_zT0cCeRbZkgl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">1.00</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; padding-bottom: 2.5pt">Balance, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20250701__20260630_zp9dp2G7j9xe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, Ending Balance">19,181,990</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iE_pid_c20250701__20260630_z5lYz32TPfM" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Ending Balance">4.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250701__20260630_zNvV402YoNv3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20250701__20260630_zqxTfJCDy4A4" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, Exercisable Ending Balance">12,134,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercisable_iE_pid_c20250701__20260630_zl4NviaRHwn7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable Ending Balance">6.69</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExercisable_iE_c20250701__20260630_z1tPiZ2zHFif" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 9004271 14360308

3548426

898426

900000

1750000

8773586

196176

1842120

<p id="xdx_890_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zSLXC2JAblr8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"> Schedule of Share Purchase Warrants Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of Warrants</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted Average Remaining Contractual Term</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Aggregate Intrinsic Value</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Balance, June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240701__20250630_z2cmzp5Bvb6b" style="width: 12%; text-align: right" title="Number of warrants, Beginning Balance">6,928,758</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iS_pid_c20240701__20250630_z6RosgMGYfM" style="width: 12%; text-align: right" title="Weighted average exercise price, Beginning Balance">12.95</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240701__20250630_z0eHS5Tp4X81" style="text-align: right" title="Number of warrants, Granted">14,360,308</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceGranted_pid_c20240701__20250630_zu2hrFcNTomi" style="text-align: right" title="Weighted average exercise price, Granted">1.56</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Rescinded</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_di_c20240701__20250630_zVbe9Jvh5577" style="text-align: right" title="Number of warrants, Rescinded">(1,750,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceRescinded_pid_c20240701__20250630_zFwD9ZbXhXu2" style="text-align: right" title="Weighted average exercise price, Rescinded">1.00</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20240701__20250630_z3so0Il5MX01" style="text-align: right" title="Number of warrants, Exercised">(416,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercised_pid_c20240701__20250630_zdmplRX0dFa2" style="text-align: right" title="Weighted average exercise price, Exercised">1.13</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20240701__20250630_z18WH0IWxy6a" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, Expired">(1,742,246</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExpired_pid_c20240701__20250630_zovg9YTZFKkh" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">10.46</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Balance, June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20250701__20260630_zG4gfUsS5CD5" style="text-align: right" title="Number of warrants, Beginning Balance">17,380,150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iS_pid_c20250701__20260630_zkcyBqYI5pE6" style="text-align: right" title="Weighted average exercise price, Beginning Balance">5.28</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20250701__20260630_zijfPPwzgFd3" style="text-align: right" title="Number of warrants, Granted">11,492,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceGranted_pid_c20250701__20260630_zIB27RuxqH9" style="text-align: right" title="Weighted average exercise price, Granted">1.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_di_c20250701__20260630_zblzEARToWE6" style="text-align: right" title="Number of warrants, Exercised">(9,474,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercised_pid_c20250701__20260630_zTBWvWIDl1nc" style="text-align: right" title="Weighted average exercise price, Exercised">1.41</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_iN_di_c20250701__20260630_zGlha3Xk3ba7" style="text-align: right" title="Number of warrants, Forfeited">(166,378</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceRescinded_pid_c20250701__20260630_zyXQKvmVxlwd" style="text-align: right" title="Weighted average exercise price, Forfeited">4.80</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_di_c20250701__20260630_zercVzsH44Ok" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, Expired">(50,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExpired_pid_c20250701__20260630_zT0cCeRbZkgl" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, Expired">1.00</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; padding-bottom: 2.5pt">Balance, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20250701__20260630_zp9dp2G7j9xe" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, Ending Balance">19,181,990</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceOutstanding_iE_pid_c20250701__20260630_z5lYz32TPfM" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Ending Balance">4.67</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iE_c20250701__20260630_zNvV402YoNv3" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable, June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20250701__20260630_zqxTfJCDy4A4" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, Exercisable Ending Balance">12,134,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsWeightedAverageExercisePriceExercisable_iE_pid_c20250701__20260630_zl4NviaRHwn7" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, Exercisable Ending Balance">6.69</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_987_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueExercisable_iE_c20250701__20260630_z1tPiZ2zHFif" style="border-bottom: Black 2.5pt double; text-align: right" title="Aggregate intrinsic value exercisable">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6928758

12.95

14360308

1.56

1750000

1.00

416670

1.13

1742246

10.46

17380150

5.28

11492881

1.03

9474663

1.41

166378

4.80

50000

1.00

19181990

4.67

P2Y10M6D

12134648 6.69 P3Y10D

<p id="xdx_806_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_z52XzJf65GUc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">16.</td> <td style="font: 10pt Times New Roman, Times, Serif">Equity Compensation Awards</td></tr> </table> The Company has established the Retention Plan to issue shares in the effort to retain key executives, directors, and employees. The Retention Plan allows for several different types of awards to be granted, including but not limited to, restricted share units and restricted share awards, collectively referred to as “share awards”. Share awards generally have the same expense characteristics under US GAAP and generally vest over a four-year period at a rate of 25% per annum. Under the Retention Plan, the Company is authorized to issue shares of common stock to employees and non-employees up to ten percent (10%) of the total number of shares of common stock outstanding as of December 31, each year, on a fully diluted basis, while the Retention Plan remains in effect. During fiscal years 2026 and 2025, the Company granted <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn5n6_c20250701__20260630__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyOneEquityRetentionPlanMember_zCAmz2AoV3Tc" title="Number of restricted shares issued, shares granted">12.4 million and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn5n6_c20250701__20260630__us-gaap--AwardTypeAxis__custom--EquityRetentionPlanMember_zRQVT7kVYal1" title="Number of restricted shares issued, shares">9.5 million share awards under the Retention Plan, respectively. <p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zVSZjeNjacog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below reflects the share award activity for the fiscal years ended June 30, 2026 and 2025: Schedule of Restricted Shares and Restricted Share Units Non-Vested <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested share awards at June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240701__20250630_zgYpg4gd1XD" style="width: 16%; text-align: right" title="Units, Unvested share awards, Beginning">3,428,604</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240701__20250630_zl9udZ7t99kc" style="width: 16%; text-align: right" title="Weighted average grant date fair value, Unvested share awards, Beginning">5.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240701__20250630_zBmwbMZKWrU9" style="text-align: right" title="Units, Granted">9,454,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zBsU0r5IXvt6" style="text-align: right" title="Weighted average grant date fair value, Granted">1.03</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240701__20250630_zg7paRRHss7h" style="text-align: right" title="Units, Vested">(3,135,227</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zITBdDek8yJ8" style="text-align: right" title="Weighted average grant date fair value, Vested">2.59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeitures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240701__20250630_z6r8pETARzpj" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeitures">(1,164,640</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zKTUdUrXP6Kk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, Forfeitures">1.94</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested share awards at June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250701__20260630_zeQWgOIBODS6" style="text-align: right" title="Units, Unvested share awards, Beginning">8,583,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250701__20260630_zF2PlIca2xW2" style="text-align: right" title="Weighted average grant date fair value, Unvested share awards, Beginning">1.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250701__20260630_zMZlTKeolQdh" style="text-align: right" title="Units, Granted">12,395,923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zGdZIUvniT78" style="text-align: right" title="Weighted average grant date fair value, Granted">2.78</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250701__20260630_z6MTYHDPto8d" style="text-align: right" title="Units, Vested">(6,563,778</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zIp95R6YUzX8" style="text-align: right" title="Weighted average grant date fair value, Vested">2.74</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeitures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250701__20260630_zOPiKhb86ts8" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeitures">(1,434,229</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zg09sN2h0QW2" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, Forfeitures">2.14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested awards at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250701__20260630_zOvR1hyTWApl" style="border-bottom: Black 2.5pt double; text-align: right" title="Units, Unvested share awards, Ending">12,981,382</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250701__20260630_z8qtZmoO6HZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value, Unvested share awards, Ending">2.31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As awards are granted, for those awards subject solely to a service condition, stock-based compensation equivalent to the fair market value of the underlying common stock on the date of grant is expensed over the requisite service period, generally four years with a maximum contractual term of ten years, using the graded vesting attribution method as acceptable under ASC 718, “Compensation-Stock Compensation.” For awards that include performance conditions, compensation expense is recognized when achievement of the performance condition is considered probable and only for the portion of the requisite service period that has been rendered. The Company accounts for forfeitures as they occur. The fair value of share awards that vested during the fiscal year ended June 30, 2026 totaled $<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_pn5n6_c20250701__20260630_zaJZPsu80Zd3" title="Vested value">18.6 million. The Company recognized total stock-based compensation expense of $46.5 million and $14.7 million for the fiscal years 2026 and 2025, respectively. Included in the $46.5 million recognized during fiscal year 2026 was $36.0 million related to executive performance-based awards. Included in the $14.7 million recognized during the fiscal year 2025 was $6.2 million related to executive performance-based awards. For the fiscal years 2026 and 2025, total stock-based compensation expense included $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20250701__20260630__us-gaap--AwardTypeAxis__custom--WarrantsAwardedMember__srt--TitleOfIndividualAxis__custom--EmployeeMember_zveGTV2uzFy" title="Stock-based compensation expense">25.1 million and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn5n6_c20240701__20250630__us-gaap--AwardTypeAxis__custom--WarrantsAwardedMember__srt--TitleOfIndividualAxis__custom--EmployeeMember_zuJ5lri7epui" title="Stock-based compensation expense">4.3 million, respectively, related to common share warrants awarded to employees of the Company. As of June 30, 2026, there were approximately $27.8 million of unamortized expenses relating to outstanding equity compensation awards to be recognized over a remaining weighted-average period of <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250701__20260630_znZIPCBrjnt5" title="Weighted-average period">2.94 years. <p id="xdx_899_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_znhzCJOOK67g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below presents the stock-based compensation expense per respective line item of the consolidated statements of operations for the fiscal years ended June 30: Schedule of Stock-Based Compensation Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20250701__20260630_zeCLhpwl8Ol7" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20240701__20250630_z9a8TOa0G6V5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--CostOfGoodsAndServicesSold_z3fnjgMByPDe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Cost of goods sold</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,118,059</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">810,924</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--GeneralAndAdministrativeExpense_zTNSIvfOSVU9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">General and administrative</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">38,482,848</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">9,317,883</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_40F_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zCNEyQnWaL4d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Research and development</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,716,397</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,333,983</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40B_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ExplorationCosts_z6pSoXSV0gF8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Exploration</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">163,289</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">191,017</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--AllocatedShareBasedCompensationExpense_zCHy2pzEXFE8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Total stock-based compensation</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"></td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">$46,480,593</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14,653,807</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table> Executive officers and selected other key employees are eligible to receive common share performance-based awards, as determined by the board of directors. The payouts, in the form of share awards, vary based on the degree to which corporate operating objectives are met. These performance-based awards typically include a service-based requirement, which is generally four-years.

0.25

0.10

12400000

9500000

<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zVSZjeNjacog" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below reflects the share award activity for the fiscal years ended June 30, 2026 and 2025: Schedule of Restricted Shares and Restricted Share Units Non-Vested <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Units</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested share awards at June 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20240701__20250630_zgYpg4gd1XD" style="width: 16%; text-align: right" title="Units, Unvested share awards, Beginning">3,428,604</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20240701__20250630_zl9udZ7t99kc" style="width: 16%; text-align: right" title="Weighted average grant date fair value, Unvested share awards, Beginning">5.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240701__20250630_zBmwbMZKWrU9" style="text-align: right" title="Units, Granted">9,454,729</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zBsU0r5IXvt6" style="text-align: right" title="Weighted average grant date fair value, Granted">1.03</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20240701__20250630_zg7paRRHss7h" style="text-align: right" title="Units, Vested">(3,135,227</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zITBdDek8yJ8" style="text-align: right" title="Weighted average grant date fair value, Vested">2.59</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeitures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20240701__20250630_z6r8pETARzpj" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeitures">(1,164,640</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20240701__20250630_zKTUdUrXP6Kk" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, Forfeitures">1.94</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Unvested share awards at June 30, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_c20250701__20260630_zeQWgOIBODS6" style="text-align: right" title="Units, Unvested share awards, Beginning">8,583,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20250701__20260630_zF2PlIca2xW2" style="text-align: right" title="Weighted average grant date fair value, Unvested share awards, Beginning">1.93</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20250701__20260630_zMZlTKeolQdh" style="text-align: right" title="Units, Granted">12,395,923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zGdZIUvniT78" style="text-align: right" title="Weighted average grant date fair value, Granted">2.78</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20250701__20260630_z6MTYHDPto8d" style="text-align: right" title="Units, Vested">(6,563,778</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zIp95R6YUzX8" style="text-align: right" title="Weighted average grant date fair value, Vested">2.74</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">Forfeitures</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_di_c20250701__20260630_zOPiKhb86ts8" style="border-bottom: Black 1pt solid; text-align: right" title="Units, Forfeitures">(1,434,229</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20250701__20260630_zg09sN2h0QW2" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, Forfeitures">2.14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Unvested awards at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_c20250701__20260630_zOvR1hyTWApl" style="border-bottom: Black 2.5pt double; text-align: right" title="Units, Unvested share awards, Ending">12,981,382</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20250701__20260630_z8qtZmoO6HZe" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value, Unvested share awards, Ending">2.31</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3428604

5.02

9454729

1.03

3135227

2.59

1164640

1.94

8583466

1.93

12395923

2.78

6563778

2.74

1434229

2.14

12981382

2.31

18600000

46500000

14700000

46500000

36000000.0

14700000

6200000

25100000

4300000

27800000

P2Y11M8D

<p id="xdx_899_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_znhzCJOOK67g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The table below presents the stock-based compensation expense per respective line item of the consolidated statements of operations for the fiscal years ended June 30: Schedule of Stock-Based Compensation Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_493_20250701__20260630_zeCLhpwl8Ol7" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" id="xdx_492_20240701__20250630_z9a8TOa0G6V5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--CostOfGoodsAndServicesSold_z3fnjgMByPDe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Cost of goods sold</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,118,059</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">810,924</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_404_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--GeneralAndAdministrativeExpense_zTNSIvfOSVU9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 60%">General and administrative</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">38,482,848</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">9,317,883</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_40F_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zCNEyQnWaL4d" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Research and development</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">6,716,397</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,333,983</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40B_eus-gaap--AllocatedShareBasedCompensationExpense_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ExplorationCosts_z6pSoXSV0gF8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Exploration</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">163,289</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">191,017</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_eus-gaap--AllocatedShareBasedCompensationExpense_zCHy2pzEXFE8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Total stock-based compensation</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"></td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">$46,480,593</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif">$</td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">14,653,807</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

1118059

810924

38482848

9317883

6716397

4333983

163289

191017

46480593

14653807

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">17.</td> <td style="font: 10pt Times New Roman, Times, Serif">Income Taxes</td></tr> </table> The Company has not recognized any income tax provisions for the fiscal years ended June 30, 2026 and 2025. Domestic and foreign pretax loss from continuing operations for the fiscal years ended June 30: Schedule of Income (loss) Before Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250701__20260630_zVMuQnDDCiNa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zoEdMYZVk6g1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maILFCOzJFO_zAAfChAAiIL7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(73,379,021</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(46,762,625</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maILFCOzJFO_zTsBAtFJbc7c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLoss_iT_mtILFCOzJFO_z0YM6NebLX48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Domestic and foreign pre-tax loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(73,379,021</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(46,762,625</td><td style="text-align: left">)</td></tr> </table> The components of the provision (benefit) for income taxes for the fiscal years ended June 30: Schedule of Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zh0n1fDudRLc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zLoqGr7P1aXk" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; width: 60%"> </td><td style="font-weight: bold; padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: right; width: 16%"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; text-align: right; width: 16%"> </td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zUNkMNykLmAb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_maCITEBzp3T_zeyKXMNC6XSh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_maCITEBzp3T_zRxrhFiIXQBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_mtCITEBzp3T_maITEBzCsk_zQrh7BYR1hL4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_z4lDy5z1py7b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zJvdlsAqgq79" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zNkTqkFN3lh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_maDITEBzJuM_zOUpLAkJeZf3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%">Federal</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_maDITEBzJuM_zbk4QEY7vWBj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_mtDITEBzJuM_maITEBzCsk_zv1onH5t7uLd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total Deferred</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> Tax Rate Reconciliation The reconciliation from the statutory federal income tax rate to the Company’s effective income tax rate, applying ASU 2023-09 prospectively, follows: Schedule of Statutory Federal Income Tax Rate <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zkR4iGoSryD9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Fiscal Year Ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzuGR_zf5HkxdxLSD6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span id="xdx_908_eus-gaap--TaxJurisdictionOfDomicileExtensibleEnumeration_dxL_c20250701__20260630_zgUL0aebGzF9" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">Income taxes (benefit) at statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(15,409,595</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maABC1_c20250701__20260630_zg2feUsEXIQb" style="width: 16%; text-align: right" title="Income taxes (benefit) at statutory rates, percentage">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzuGR_zKk5TrnmqNL2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maABC1_c20250701__20260630_zwx8AChP8Aua" style="text-align: right" title="State and local income taxes, net of federal benefit, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationTaxCreditsResearch_iN_di_msITEBzuGR_zXbFpjZKS4tb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(897,404</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_iN_pid_dpi_uPure_msABC1_c20250701__20260630_zJwMutwQmlN" style="text-align: right" title="Research and development, percentage">1.2</td><td style="text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzuGR_z7JZCAMfqmB2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,727,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maABC1_c20250701__20260630_zi52yhoKJTjk" style="text-align: right" title="Changes in valuation allowance, percentage">(16.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Nontaxable or nondeductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationNondeductibleExpensePermanentCost_maITEBzuGR_zNhqN2bhvfyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Permanent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--EffectiveIncomeTaxRateReconciliationNondeductibleExpensePermanentCost_pid_dp_uPure_maABC1_c20250701__20260630_ziGVZeJl3xRd" style="text-align: right" title="Permanent, percentage">(0.4</td><td style="text-align: left">)%</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maITEBzuGR_zlSdf22l1Sd1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_maABC1_c20250701__20260630_zwMxwjOrQNf3" style="text-align: right" title="Stock compensation, percentage">1.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_404_ecustom--IncomeTaxReconciliationNondeductibleExpenseOfficersCompensationCost_maITEBzuGR_zETKtKzTFEH6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Section 162(m) Officer’s Compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,204,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxReconciliationNondeductibleExpenseOfficersCompensationCost_pid_dp_uPure_maABC1_c20250701__20260630_zrb9zimSCbnj" style="text-align: right" title="Section 162(m) Officer's Compensation, percentage">(7.1</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzuGR_zgs81zdiH34e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32,848</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maABC1_c20250701__20260630_z056h9vNwRQ1" style="border-bottom: Black 1pt solid; text-align: right" title="Other, net, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzuGR_zVmMGpAMAREg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax provision (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtABC1_c20250701__20260630_zBYGH1NWkxR1" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax provision (benefit), percentage">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> The reconciliation from the statutory federal income tax rate to our effective income tax rate, applying ASC 740 prior to the adoption of ASU 2023-09, follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240701__20250630_zwK0jWGfcvm9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zom1DGLSiOh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Net loss before taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(46,762,625</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zZmT33sfbKWe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Statutory Rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationTaxContingencies_maITEBzuGR_zoPqpVFhZzCl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computed expected tax recovery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,820,151</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_maITEBzuGR_zZ3IID7VaDA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax (benefit), net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,080,844</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzuGR_zXx6wl539UGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other permanent tax differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">537,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzuGR_z8l5oyvYwYqf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Share-based compensation – RSUs/PSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,351,909</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_di_msITEBzuGR_zkB9LxGFBjh1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,697</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--IncomeTaxDeferredAdjustmentsAndOther_iN_di_msITEBzuGR_zHeC4p61TYZj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred adjustments and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(501,191</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzuGR_ziHIkVvBzTt7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,524,180</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzuGR_zphcdjMxhyzk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax provision</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Income Taxes Paid The cash paid for taxes relates to state minimum taxes, the majority of which relates to California. The amount of income taxes paid during the year does not meet the five percent disaggregation threshold. Cash paid for income taxes (net of refunds) consisted of the following: Schedule of Cash Paid for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20260630_z73aygLk0Fmj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Fiscal Year Ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_z5GafOiZgnMg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--CA_zInufWpibop9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 78%">California</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--ID_zZ43Ep3nTivf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Idaho</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--MA_z62QeoPZzUxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Massachusetts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxesPaid_pn3n3_zSpa3xFGJe3h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income taxes paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,286</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The significant components of deferred income tax assets and liabilities at June 30, after applying the statutory corporate income tax rate, are as follows for the fiscal years ended June 30: Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_zLcLvzPtqIGc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250630_zbotKkaCN7pk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTALNz5LB_zuZDUtYRXlLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">40,097,448</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">30,864,583</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTALNz5LB_zD5T6SQ4Qzt7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,793,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,097,550</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTALNz5LB_zTmxyVgDxfOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Section 174 capitalization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,530,067</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,328,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOther_iI_maDTALNz5LB_zDPyAovBwGN6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,994</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsFixedAndIntangiblesAssets_iI_maDTALNz5LB_zHq1NFxRv5v6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fixed assets and intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,166,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,007,255</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNz5LB_zr2slys7ZqOi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(53,757,487</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(41,718,765</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz5LB_zVmHMruWR8b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax asset</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> We believe that it is more likely than not that the benefit from our net deferred tax assets will not be realized. At June 30, 2026 and 2025, respectively, we have provided a valuation allowance of $53.8 and $41.7 million against our deferred tax assets, respectively. If our assumptions change and we determine that we will be able to realize these NOL carryforward amounts, the Company will adjust its disclosures appropriately. As of June 30, 2026, the Company has accumulated federal and state net operating loss carryforwards of approximately $179.2, and $21.2 million, respectively. If unused, $<span id="xdx_900_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember__us-gaap--TaxCreditCarryforwardAxis__custom--UnusedMember_zlujofnpganj" title="Net operating loss carryforwards">2.5 million of our federal net operating loss carryforwards will <span id="xdx_90C_eus-gaap--OperatingLossCarryforwardsLimitationsOnUse_c20250701__20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember__us-gaap--TaxCreditCarryforwardAxis__custom--UnusedMember_zaUstk8fcO9a" title="Operating loss carryforwards, limitations">expire in 2032, and $<span id="xdx_90E_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember__us-gaap--TaxCreditCarryforwardAxis__custom--IndefinitelyMember_z6udwbcoWS36" title="Net operating loss carryforwards">176.7 million will carryforward indefinitely. $<span id="xdx_90F_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember__us-gaap--TaxCreditCarryforwardAxis__custom--UnusedMember_z2OQkHhFPQY5" title="Net operating loss carryforwards">2.6 million of our state net operating loss carryforwards will begin to <span id="xdx_90F_eus-gaap--OperatingLossCarryforwardsLimitationsOnUse_c20250701__20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember__us-gaap--TaxCreditCarryforwardAxis__custom--UnusedMember_z58wjjGeNP27" title="Operating loss carryforwards, limitations">expire in 2041 and $<span id="xdx_90D_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20260630__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember__us-gaap--TaxCreditCarryforwardAxis__custom--IndefinitelyMember_zALVfSSYw2b6" title="Net operating loss carryforwards">18.6 million will carryforward indefinitely. In addition, under the Tax Cuts and Jobs Act (Tax Act) the amount of federal net operating losses generated in taxable periods beginning after December 31, 2017, that we are permitted to deduct in any taxable year is limited to 80% of our taxable income in such year, where taxable income is determined without regard to the net operating loss deduction itself. The Tax Act generally eliminates the ability to carry back any net operating loss to prior taxable years, while allowing post-2017 unused net operating losses to be carried forward indefinitely. The Company also has $0.3 million of federal Research and Development Credit carryforwards that will expire in 2045. Utilization of net operating losses, credit carryforwards, and certain deductions may be subject to a substantial annual limitation due to ownership change limitations provided by the Internal Revenue Code of 1986, as amended, and similar state provisions. The tax benefits related to future utilization of federal and state net operating losses, tax credit carryforwards, and other deferred tax assets may be limited or lost if cumulative changes in ownership exceeds 50% within any three-year period. Additional limitations on the use of these tax attributes could occur in the event of possible disputes arising in examinations from various taxing authorities. Any net operating loss or credit carryforwards that will expire prior to utilization as a result of such limitations will be removed from deferred tax assets. Unrecognized Tax Benefits The unrecognized tax benefits for the Company are as follows as of June 30: Schedule of Unrecognized Tax Benefits <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20260630_zDeA6rYquj2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240701__20250630_zrSULCbGhPZ3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--UnrecognizedTaxBenefits_iS_zIySEsYGC1ob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrecognized tax benefits, beginning of period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnrecognizedTaxBenefitsPeriodDecrease_iN_di_z2QqbmpB6sMk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Decrease during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnrecognizedTaxBenefitsPeriodIncrease_zqPLVxPIwmR6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Increase during the period</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--UnrecognizedTaxBenefits_iE_zhEsdgPY4lP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Unrecognized tax benefits, end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company files U.S. income tax returns with varying statutes of limitations. The tax returns for fiscal years ended September 30, 2012, to June 30, 2026, remain open to examination due to the carryover of unused NOL carryforwards and tax credits. The Company is not under examination by any tax authority as of June 30, 2026.

Domestic and foreign pretax loss from continuing operations for the fiscal years ended June 30: Schedule of Income (loss) Before Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250701__20260630_zVMuQnDDCiNa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zoEdMYZVk6g1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_maILFCOzJFO_zAAfChAAiIL7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Domestic</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(73,379,021</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(46,762,625</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_maILFCOzJFO_zTsBAtFJbc7c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Foreign</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLoss_iT_mtILFCOzJFO_z0YM6NebLX48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Domestic and foreign pre-tax loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(73,379,021</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(46,762,625</td><td style="text-align: left">)</td></tr> </table>

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-46762625

The components of the provision (benefit) for income taxes for the fiscal years ended June 30: Schedule of Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_zh0n1fDudRLc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240701__20250630_zLoqGr7P1aXk" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; width: 60%"> </td><td style="font-weight: bold; padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: right; width: 16%"> </td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td><td style="padding-bottom: 1pt; text-align: right; width: 16%"> </td><td style="padding-bottom: 1pt; text-align: left; width: 1%"> </td></tr> <tr id="xdx_402_eus-gaap--CurrentIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zUNkMNykLmAb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CurrentFederalTaxExpenseBenefit_i01_maCITEBzp3T_zeyKXMNC6XSh" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_i01_maCITEBzp3T_zRxrhFiIXQBb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CurrentIncomeTaxExpenseBenefit_i01T_mtCITEBzp3T_maITEBzCsk_zQrh7BYR1hL4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total Current</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250701__20260630_z4lDy5z1py7b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20240701__20250630_zJvdlsAqgq79" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredIncomeTaxExpenseBenefitContinuingOperationsAbstract_iB_zNkTqkFN3lh3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_i01_maDITEBzJuM_zOUpLAkJeZf3" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%">Federal</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_i01_maDITEBzJuM_zbk4QEY7vWBj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredIncomeTaxExpenseBenefit_i01T_mtDITEBzJuM_maITEBzCsk_zv1onH5t7uLd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Total Deferred</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

The reconciliation from the statutory federal income tax rate to the Company’s effective income tax rate, applying ASU 2023-09 prospectively, follows: Schedule of Statutory Federal Income Tax Rate <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250701__20260630_zkR4iGoSryD9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Fiscal Year Ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percent</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzuGR_zf5HkxdxLSD6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left"><span id="xdx_908_eus-gaap--TaxJurisdictionOfDomicileExtensibleEnumeration_dxL_c20250701__20260630_zgUL0aebGzF9" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2026%23IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">Income taxes (benefit) at statutory rates</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(15,409,595</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_maABC1_c20250701__20260630_zg2feUsEXIQb" style="width: 16%; text-align: right" title="Income taxes (benefit) at statutory rates, percentage">21.0</td><td style="width: 1%; text-align: left">%</td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzuGR_zKk5TrnmqNL2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State and local income taxes, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_pid_dp_maABC1_c20250701__20260630_zwx8AChP8Aua" style="text-align: right" title="State and local income taxes, net of federal benefit, percentage">0.0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax Credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationTaxCreditsResearch_iN_di_msITEBzuGR_zXbFpjZKS4tb" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(897,404</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_iN_pid_dpi_uPure_msABC1_c20250701__20260630_zJwMutwQmlN" style="text-align: right" title="Research and development, percentage">1.2</td><td style="text-align: left">%</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzuGR_z7JZCAMfqmB2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">11,727,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_pid_dp_uPure_maABC1_c20250701__20260630_zi52yhoKJTjk" style="text-align: right" title="Changes in valuation allowance, percentage">(16.0</td><td style="text-align: left">)%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Nontaxable or nondeductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--IncomeTaxReconciliationNondeductibleExpensePermanentCost_maITEBzuGR_zNhqN2bhvfyf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Permanent</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">291,364</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--EffectiveIncomeTaxRateReconciliationNondeductibleExpensePermanentCost_pid_dp_uPure_maABC1_c20250701__20260630_ziGVZeJl3xRd" style="text-align: right" title="Permanent, percentage">(0.4</td><td style="text-align: left">)%</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maITEBzuGR_zlSdf22l1Sd1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Stock compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(949,004</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_pid_dp_uPure_maABC1_c20250701__20260630_zwMxwjOrQNf3" style="text-align: right" title="Stock compensation, percentage">1.3</td><td style="text-align: left">%</td></tr> <tr id="xdx_404_ecustom--IncomeTaxReconciliationNondeductibleExpenseOfficersCompensationCost_maITEBzuGR_zETKtKzTFEH6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Section 162(m) Officer’s Compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,204,519</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxReconciliationNondeductibleExpenseOfficersCompensationCost_pid_dp_uPure_maABC1_c20250701__20260630_zrb9zimSCbnj" style="text-align: right" title="Section 162(m) Officer's Compensation, percentage">(7.1</td><td style="text-align: left">)%</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzuGR_zgs81zdiH34e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">32,848</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--EffectiveIncomeTaxRateReconciliationOtherAdjustments_pid_dp_uPure_maABC1_c20250701__20260630_z056h9vNwRQ1" style="border-bottom: Black 1pt solid; text-align: right" title="Other, net, percentage">0.0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzuGR_zVmMGpAMAREg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income tax provision (benefit)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_iT_pid_dp_uPure_mtABC1_c20250701__20260630_zBYGH1NWkxR1" style="border-bottom: Black 2.5pt double; text-align: right" title="Income tax provision (benefit), percentage">0.0</td><td style="padding-bottom: 2.5pt; text-align: left">%</td></tr> </table> The reconciliation from the statutory federal income tax rate to our effective income tax rate, applying ASC 740 prior to the adoption of ASU 2023-09, follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240701__20250630_zwK0jWGfcvm9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_zom1DGLSiOh8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Net loss before taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">(46,762,625</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_zZmT33sfbKWe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Statutory Rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">21</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationTaxContingencies_maITEBzuGR_zoPqpVFhZzCl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Computed expected tax recovery</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9,820,151</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FederalIncomeTaxExpenseBenefitContinuingOperations_maITEBzuGR_zZ3IID7VaDA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax (benefit), net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,080,844</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzuGR_zXx6wl539UGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other permanent tax differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">537,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBzuGR_z8l5oyvYwYqf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Share-based compensation – RSUs/PSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,351,909</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_di_msITEBzuGR_zkB9LxGFBjh1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax credit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11,697</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--IncomeTaxDeferredAdjustmentsAndOther_iN_di_msITEBzuGR_zHeC4p61TYZj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred adjustments and other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(501,191</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzuGR_ziHIkVvBzTt7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">9,524,180</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzuGR_zphcdjMxhyzk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income tax provision</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

-15409595

0.210

0.000

897404

-0.012

11727272

-0.160

291364 -0.004

-949004

0.013

5204519 -0.071

32848

0.000

-46762625

0.21

-9820151

-1080844

537794

1351909

11697

501191

9524180

Schedule of Cash Paid for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250701__20260630_z73aygLk0Fmj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Fiscal Year Ended June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_z5GafOiZgnMg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>State</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--CA_zInufWpibop9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 78%">California</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">800</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--ID_zZ43Ep3nTivf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Idaho</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--IncomeTaxesPaid_pn3n3_hus-gaap--IncomeTaxAuthorityAxis__country--MA_z62QeoPZzUxd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Massachusetts</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxesPaid_pn3n3_zSpa3xFGJe3h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total income taxes paid</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,286</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

800000

30000

456000

1286000

The significant components of deferred income tax assets and liabilities at June 30, after applying the statutory corporate income tax rate, are as follows for the fiscal years ended June 30: Schedule of Deferred Tax Assets and Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_zLcLvzPtqIGc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250630_zbotKkaCN7pk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_maDTALNz5LB_zuZDUtYRXlLi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">40,097,448</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">30,864,583</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_maDTALNz5LB_zD5T6SQ4Qzt7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,793,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,097,550</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsInProcessResearchAndDevelopment_iI_maDTALNz5LB_zTmxyVgDxfOa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Section 174 capitalization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,530,067</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,328,383</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsOther_iI_maDTALNz5LB_zDPyAovBwGN6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other temporary differences</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">169,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">420,994</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--DeferredTaxAssetsFixedAndIntangiblesAssets_iI_maDTALNz5LB_zHq1NFxRv5v6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fixed assets and intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,166,163</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,007,255</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_di_msDTALNz5LB_zr2slys7ZqOi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(53,757,487</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(41,718,765</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_mtDTALNz5LB_zVmHMruWR8b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net deferred tax asset</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

40097448

30864583

5793946

4097550

2530067

2328383

169863

420994

5166163 4007255

53757487

41718765

53800000

41700000

179200000

21200000

2500000

expire in 2032

176700000

2600000

expire in 2041

18600000

300000

expire in 2045

The unrecognized tax benefits for the Company are as follows as of June 30: Schedule of Unrecognized Tax Benefits <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250701__20260630_zDeA6rYquj2e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240701__20250630_zrSULCbGhPZ3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--UnrecognizedTaxBenefits_iS_zIySEsYGC1ob" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Unrecognized tax benefits, beginning of period</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnrecognizedTaxBenefitsPeriodDecrease_iN_di_z2QqbmpB6sMk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Decrease during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--UnrecognizedTaxBenefitsPeriodIncrease_zqPLVxPIwmR6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Increase during the period</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right"> </td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--UnrecognizedTaxBenefits_iE_zhEsdgPY4lP8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Unrecognized tax benefits, end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">18.</td> <td style="font: 10pt Times New Roman, Times, Serif">Segment and Other Information</td></tr> </table> The Company has determined that its Chief Executive Officer is its chief operating decision maker (“CODM”). The Company operates as a single business operating segment, which includes all activities related to the exploration of new primary resources of battery metals, in the development and commercialization of new technologies for the extraction of these battery metals from primary resources, and in the commercialization of an internally developed integrated process for the recycling of lithium-ion batteries. Accordingly, the CODM uses consolidated net income to assess financial performance and inform decisions on how to allocate resources. The financial information provided to the CODM does not contain significant disaggregated expenses outside of what is already disclosed in the statements of operations. Revenue from five major customers during the fiscal year ended June 30, 2026 and three major customers for the fiscal year ended June 30, 2025 accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250701__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveCustomerMember_zjhBhy7GWjAc" title="Concentration percentage">86% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240701__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember_zRNdCHWZ24G4" title="Concentration percentage">74%, respectively of the revenue for those periods. Substantially all of the Company’s long-lived assets and operating lease right-of-use assets were located in the United States as of June 30, 2026 and 2025.

0.86

0.74

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">19.</td> <td style="font: 10pt Times New Roman, Times, Serif">Supplemental Statement of Cash Flow Disclosures</td></tr> </table> For the fiscal years ended June 30: Schedule of Statement of Cash Flow Disclosures <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250701__20260630_zA03LkoGKjXi" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240701__20250630_zcvWiWJZcql7" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--SupplementalCashFlowInformationAbstract_iB_z55SzlxtB9L7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental disclosures:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InterestPaidNet_zYVMdvq8tGxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Interest paid</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">29,961</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">19,446</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_iB_zZGWxjOtM0cc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-cash investing and financing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InvestingActivitiesInAccountsPayableAndAccruedLiabilities_i01_z6yIWDvIHvi5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Purchases of property and equipment accrued in current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">283,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RightofuseAssetObtainedInExchangeForLeaseLiability_i01_zEWoYkNIPwQl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use asset obtained in exchange for lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">367,643</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DebtPaymentSatisfiedWithCommonShares_i01_zNrVgJFuJ4ol" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Debt payment satisfied with common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,742,580</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetsTransferredFromAssetsHeldforsaleToPropertyAndEquipment_i01_ztIOS3WcaW7g" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Assets transferred from assets held-for-sale to property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,043,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PayableRecognizedUponRescissionOfSubscriptionAgreement_i01_zz3UAqKkO9rl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Payable forgiven in exchange for subscription agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">875,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetsTransferredToAssetsHeldforsale_zaPOo5naGoaa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Assets transferred to assets held-for-sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,752,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AssetsTransferredFromAssetsHeldforsaleToIntangibleAssets_i01_zeq6AHNmxf5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Assets transferred from assets held-for-sale to intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,851,898</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

For the fiscal years ended June 30: Schedule of Statement of Cash Flow Disclosures <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250701__20260630_zA03LkoGKjXi" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240701__20250630_zcvWiWJZcql7" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--SupplementalCashFlowInformationAbstract_iB_z55SzlxtB9L7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Supplemental disclosures:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InterestPaidNet_zYVMdvq8tGxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%; text-align: left">Interest paid</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">29,961</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">19,446</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_iB_zZGWxjOtM0cc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-cash investing and financing activities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--InvestingActivitiesInAccountsPayableAndAccruedLiabilities_i01_z6yIWDvIHvi5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Purchases of property and equipment accrued in current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266,206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">283,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--RightofuseAssetObtainedInExchangeForLeaseLiability_i01_zEWoYkNIPwQl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Right-of-use asset obtained in exchange for lease liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">367,643</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--DebtPaymentSatisfiedWithCommonShares_i01_zNrVgJFuJ4ol" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Debt payment satisfied with common shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,742,580</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--AssetsTransferredFromAssetsHeldforsaleToPropertyAndEquipment_i01_ztIOS3WcaW7g" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Assets transferred from assets held-for-sale to property and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,043,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PayableRecognizedUponRescissionOfSubscriptionAgreement_i01_zz3UAqKkO9rl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Payable forgiven in exchange for subscription agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">875,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AssetsTransferredToAssetsHeldforsale_zaPOo5naGoaa" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Assets transferred to assets held-for-sale</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,752,544</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AssetsTransferredFromAssetsHeldforsaleToIntangibleAssets_i01_zeq6AHNmxf5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Assets transferred from assets held-for-sale to intangible assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,851,898</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> </table>

29961

19446

266206 283278 367643 8000000 3742580 6043498 875000 3752544 3851898

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">20.</td> <td style="font: 10pt Times New Roman, Times, Serif">Commitments and Contingencies</td></tr> </table> From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. Except as otherwise identified herein, management is currently not aware of any such legal proceedings or claims that could have, individually or in aggregate, a material adverse effect on our business, financial condition, or operating results. Operating Leases The Company leases its principal office location in Reno, Nevada. It also leases lab space at the University of Nevada, Reno on short term leases. The principal office location lease expires on November 30, 2027, and the Lab lease expires on January 31, 2027. Consistent with the guidance in ASC 842, Leases, the Company has recorded the principal office lease in its consolidated balance sheet as an operating lease. For further information on operating lease commitments, see Note 12. Financial Assurance Nevada and other states, as well as federal regulations governing mine operations on federal land, require financial assurance to be provided for the estimated costs of mine reclamation and closure, including groundwater quality protection programs. The Company has satisfied financial assurance requirements using a combination of cash bonds and surety bonds. The amount of financial assurance the Company is required to provide will vary with changes in laws, regulations, reclamation and closure requirements, and cost estimates. At June 30, 2026, the Company’s financial assurance obligations associated with U.S. mine closure and reclamation/restoration cost estimate totaled $0.1 million, for which the Company is legally required to satisfy its financial assurance obligations for its mining properties in Tonopah, Nevada. The Company was previously released of all of its liability in the Railroad Valley region of Nevada.

100000

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">21.</td> <td style="font: 10pt Times New Roman, Times, Serif">Subsequent Events</td></tr> </table> A recently-issued federal directive effectively prohibits the export of black mass for any domestic company from the United States, unless an exception or adjustment is obtained from the Department of Commerce The Directive took effect on August 27, 2026, and remains in effect for approximately one year from the date of publication. If the Company is unable to obtain an exception, the Company will not be able to sell black mass to foreign customers, which could result in a material adverse effect on its revenue, results of operations, financial condition, and ability to fund ongoing operations. Sales of black mass represent the majority of the Company’s total revenue, and substantially all of its current black mass customers are located outside the United States. The Company has submitted a request for an exception from the Directive’s domestic allocation requirement and is actively engaging with Congressional representatives, government affairs advisors, and other stakeholders regarding this matter. Under the Directive, companies may submit exception requests on a rolling basis, and BIS intends to respond within 14 days of receipt. The Company is monitoring developments regarding the Directive, including the public comment period (which remains open until November 4, 2026), potential legislative action, and any modifications BIS may make to the Directive or exception process. The Company intends to pursue all available avenues to obtain relief, but it cannot predict the outcome of these efforts or their timing.

true