v3.26.3
Segment
 12 Months Ended
Jun. 30, 2026
Segment [Abstract]  
Segment

Note 10 – Segment

 

In accordance with ASC 280, Segment Reporting, an operating segment is a component of an enterprise that engages in business activities, whose operating results are regularly reviewed by the enterprise’s chief operating decision maker (“CODM”) to assess performance and allocate resources, and for which discrete financial information is available. The Company has identified its Chief Executive Officer as its CODM. The Company operates and manages its business as a single segment – in the research and development of the Company’s product candidates. The Company’s CODM assesses performance for the segment and decides how to allocate resources by regularly reviewing the segment net loss that also is reported as consolidated net loss on the statement of operations and comprehensive loss, after taking into account the Company’s strategic priorities, its cash balance, and its expected use of cash. Further, the CODM reviews and utilizes functional expenses (i.e., research and development, and general and administrative) at the consolidated level to manage the Company’s operations. Other segment items included are share-based compensation, interest income and other income, net, which are reflected in the segment and consolidated net loss. The measure of segment assets is reported on the consolidated balance sheet as total consolidated assets.

 

The following table presents financial information, including significant segment expenses, which are regularly provided to the CODM and included within segment and consolidated net loss:

 

    For the year ended June 30,  
    2026     2025     2024  
Expenses                  
Operating expenses, excluding share-based compensation, depreciation and amortization expense:                  
Selling and marketing   $ 6,486     $ 8,014     $ 125,427  
General and administrative                        
Salaries and related benefit     2,383,902       912,948       1,214,852  
Professional fees     3,709,008       583,293       303,577  
Rental expenses     450,699       542,749       521,814  
Other expenses*     570,671       499,638       720,949  
      7,114,280       2,538,628       2,761,192  
Research and development                        
Salaries and related benefit     1,009,370       593,804       606,761  
Supplies and materials     74,571       73,325       85,910  
Other expenses*     213,263       233,714       402,345  
      1,297,204       900,843       1,095,016  
Share-based compensation                        
General and administrative     3,223,160       197,361       478,094  
Research and development     2,423       47,447       (28,783 )
      3,225,583       244,808       449,311  
Depreciation     80,908       77,692       305,780  
Total operating expenses     11,724,461       3,769,985       4,736,726  
Operating loss     (11,724,461 )     (3,769,985 )     (4,736,726 )
Other income, net     22,520       185,772       373,505  
Income tax expense     -       -       -  
Segment and consolidated net loss     (11,701,941 )     (3,584,213 )     (4,363,221 )

 

* Other expenses include travelling, transportation, entertainment and other sundries expenses.