v3.23.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net loss $ (5,379,582) $ (3,451,699)
Adjustments to reconcile net loss to net cash used in operating activities:    
Issuance of shares for services 258,000
Amortization of deferred compensation 662,464 662,464
Partial refund of facility lease deposit 52,055
Lessor incentive 134,625
Stock-based compensation expense 448,444 204,011
Depreciation and amortization expense 206,458 98,987
Change in accounts receivable (189,239)
Change in prepaids and other current assets 7,719 (5,141)
Change in accounts payable 347,697 45,525
Change in accrued expenses and other current liabilities 67 6,382
Net cash used in operating activities (3,637,972) (2,252,791)
Investing activities:    
Purchase of equipment (590,043) (503,725)
Payment for leasehold improvements (82,502) (451,942)
Net cash used in investing activities (672,545) (955,667)
Financing activities:    
Proceeds from Private Placement, net of offering costs 5,641,485 206,930
Payment of other offering costs (45,000)
Net cash provided by financing activities 5,641,485 161,930
Net change in cash 1,330,968 (3,046,528)
Cash, beginning of period 3,740,722 6,787,250
Cash, end of period $ 5,071,690 $ 3,740,722

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