Operating Lease |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Lease [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OPERATING LEASE |
In May 2026, the Company entered into a month operating lease, which provides for approximately 2,255 square feet of rentable area for lab and office space, that commenced on June 1, 2026. The lease requires monthly payments of $2,630.83 per month plus $11.82 per square foot as a pro-rata share of maintenance expenses, insurance, and real estate taxes for the property. The Company or landlord may terminate the lease at the expiration date or by giving the other party written notice.
In accordance with ASC 842 a right-of-use asset and lease liability was recorded for $106,023 at commencement. Operating lease expense was $4,852 for the year ended June 30, 2026. Operating cash flows during the year ended June 30, 2026 were $4,852. As of June 30, 2026, the weighted average remaining lease term was 1.84 years.
Maturities of the Company’s undiscounted lease liabilities are as follows:
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