v3.26.3
Simple agreements for future equity (Tables)
12 Months Ended
Jun. 30, 2026
Simple Agreements For Future Equity  
Schedule of share based payment award stock options valuation assumptions
               
    As of
June 30,
 
    2025     2026  
Volatility(1)     78.6 %     88.7 %
Risk-free rate(2)     4.0 %     3.9 %
Credit spread(3)     8.9 %     9.7 %
Discount rate(4)     12.8 %     13.6 %
Dividend yield(5)     0.0 %     0.0 %

 

 
(1) Volatility: Derived with reference to historical price volatility of comparable companies
(2) Risk-free rate: Derived with reference to U.S. sovereign bond yield
(3) Credit spread: Risk premium over the risk-free rate, derived with reference to the spread of CCC rated bonds
(4) Discount rate: Sum of risk-free rate and credit spread
(5) Dividend yield: Derived with reference to historical dividend record of the Company
Schedule of fair value measurement
       
    Amount  
Balance at June 30, 2024   $ 9,321,564  
Issuance of simple agreements for future equity     4,307,500  
Change in fair value     4,614,821  
Balance at June 30, 2025   $ 18,243,885  
Issuance of simple agreements for future equity     3,500,000  
Change in fair value     7,377,383  
Balance at June 30, 2026   $ 29,121,268