v3.26.3
Income Tax Provision (Tables)
12 Months Ended
Jun. 30, 2026
Income Tax Provision  
Schedule of components of the Company's deferred tax assets and liabilities

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  ​ ​ ​

June 30, 

  ​ ​ ​

June 30, 

​

​

2026

​

2025

Net operating loss

​

$

32,205,489

​

$

31,115,532

Research and development credit

​

 

8,115,396

​

 

8,600,732

IRC Sec.174 R&E Capitalization

​

 

3,189,154

​

 

2,748,509

Other

​

 

11,412

​

 

27,271

​

​

​

​

​

​

​

Total gross deferred tax assets

​

 

43,521,451

​

 

42,492,044

Less: valuation allowance

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(43,521,451)

​

 

(42,492,044)

Net deferred tax asset

​

$

—

​

$

—

Schedule of income tax expense differed from the amounts computed by applying the U.S. federal income tax rate

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For the Year Ended

  ​ ​ ​

  ​ ​ ​

 

​

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June 30,

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​

​

2026

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​

 

​

  ​ ​ ​

$

  ​ ​ ​

%

 

Net loss before income taxes

​

$

(8,218,509)

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  ​

​

US federal statutory tax rate

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​

(1,725,887)

​

(21.00)

%

State income taxes, net of federal income tax effect

​

​

—

​

0.00

%

Tax credits

​

​

  ​

​

  ​

​

R&D Credit

​

​

(152,901)

​

(1.86)

%

Changes in valuation allowance

​

​

805,734

​

9.80

%

Other adjustments

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​

  ​

​

  ​

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Forgone benefit on federal tax NOLs

​

​

592,729

​

7.21

%

Forgone benefit on federal R&D Credit

​

​

437,639

​

5.33

%

Other adjustments - Other

​

​

42,686

​

0.52

%

Effective tax rate

​

$

—

​

0.00

%

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​

​

​

​

​

​

​

For the Year Ended

​

​

  ​ ​ ​

June 30, 

​

​

​

2025

​

Federal Statutory Rate

 

(21.00)

%

Research and Development Credit

 

4.71

%

State Tax Rate

 

(5.93)

%

Nondeductible Expenses

​

(0.01)

%

Other

 

(0.75)

%

Valuation Allowance

 

22.98

%

Effective Tax Rate

 

—