Net Income (Loss) per Share

Basic net income (loss) per share is calculated by dividing the net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is calculated by dividing the net income (loss) for the period by the weighted-average number of common shares outstanding during the period, increased by potentially dilutive common shares (“dilutive securities”) that were outstanding during the period. Dilutive securities include the conversion of convertible preferred stock, convertible notes and warrants. Diluted net loss per common share is the same as basic net loss per common share for each period presented because the effect of all potentially dilutive securities would be anti-dilutive as a result of the Company's net loss. Potentially dilutive securities excluded from the calculation of diluted net loss per share include the Series B Preferred Stock, convertible into approximately 707,500 common shares, the Series C Preferred Stock, convertible into approximately 2,911,200 common shares, and the Series D Preferred Stock, convertible into 162,000 common shares, in each case as of June 30, 2026. There were also 162,000 potentially dilutive securities for the warrants and 1,269,095 for the convertible notes for the year ended June 30, 2026.