Equity |
3 Months Ended | |||
|---|---|---|---|---|
Sep. 30, 2026 | ||||
| Equity [Abstract] | ||||
| EQUITY |
Common Stock
The Company is authorized to issue 400,000,000 shares of common stock with a par value of $0.001 per share. The Company has one class of common stock, which is classified as permanent equity. As of September 30, 2026 and June 30, 2026, 1,652,133 shares of common stock were issued and outstanding.
On October 15, 2024, the Company effected a 1-for-5 reverse stock split. On February 20, 2026, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common stock. All share and per-share amounts presented in the accompanying unaudited condensed consolidated financial statements and notes have been retrospectively adjusted to reflect the stock splits for all periods presented, as applicable.
Private Placement
During the year ended June 30, 2026, the Company issued 200,000 shares of common stock in a private placement for aggregate proceeds of $248,000. The Company recorded $200 in common stock and $247,800 in additional paid-in capital in connection with the issuance.
Shares Issued for Commitment Fee
During the year ended June 30, 2026, the Company issued 82,536 shares of common stock, after giving retroactive effect to the February 2026 reverse stock split, as a commitment fee in connection with an equity line of credit arrangement. The shares had an aggregate value of $500,000, of which $83 was recorded in common stock and $499,917 in additional paid-in capital.
Fractional Share Adjustments
In connection with the February 2026 reverse stock split, the Company issued 17,597 additional shares of common stock for fractional share adjustments, resulting in a $17 increase in common stock and a corresponding decrease in additional paid-in capital.
Termination of Equity Line of Credit
On July 14, 2026, the Company delivered notice to terminate its equity line of credit arrangement. The termination became effective on July 21, 2026. As of the date of the notice, there were no outstanding advance notices, and the Company had satisfied all amounts owed under the arrangement, including the issuance of the commitment fee shares.
Shares Issued for Acquisition of Acellent and Stock-Based Compensation
During the year ended June 30, 2026, the Company issued 270,000 shares of common stock as a consideration for acquiring the entire issued shares of Acellent to an independent individual and as compensation for the seller to accept as a position of director and CEO of the Company. As a result, the acquired merely cash of $12,891 with $270 as common stock and $12,621 as additional paid-in capital, respectively, was recognized as acquisition of subsidiary. While the remaining fair value of the issue common stock of $1,734,009 was recognized stock-based compensation by increasing the additional paid-in capital.
shares of common stock were issued or repurchased during the three months ended September 30, 2026. |