v3.25.1
Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net loss $ (2,163,550) $ (3,573,480)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of deferred compensation 17,047 25,920
Stock-based compensation expense 1,148,986 568,340
Depreciation and amortization expense 307,150 211,196
Amortization of discount on convertible notes 715,117
Changes in fair value of derivative liabilities 277,942
Changes in operating assets and liabilities:    
Change in accounts receivable (1,083,413) 41,739
Change in prepaids and other current assets (192,196) (76,170)
Change in accounts payable (144,030) (114,561)
Change in accrued expenses and other current liabilities 34,270 40,826
Net cash used in operating activities (1,082,677) (2,876,190)
Investing activities:    
Purchase of equipment (85,175) (316,934)
Net cash used in investing activities (85,175) (316,934)
Financing activities:    
Repurchase of common stock (4,001)
Proceeds from stock option exercise 10,000
Proceeds from convertible notes issuance (Note 3) 3,145,000
Proceeds from Public Offering, net of offering costs (Note 4) 12,587,439
Net cash provided by (used in) financing activities 15,742,439 (4,001)
Net change in cash and cash equivalent, and certificate of deposit 14,574,587 (3,197,125)
Cash and cash equivalent, and certificate of deposit, beginning of period 1,291,072 5,071,690
Cash and cash equivalent, and certificate of deposit, end of period 15,865,659 1,874,565
Supplemental non-cash disclosures:    
Conversion of convertible notes to stockholders’ equity 1,666,988
Conversion of derivative liabilities to stockholders’ equity $ 2,471,071

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