Stock-Based Compensation (Tables)
|
6 Months Ended |
Dec. 31, 2024 |
|---|
| Stock-Based Compensation [Abstract] |
|
| Schedule of Stock Option Activity |
The following is a summary of stock option activity
transactions as of and for the six months ended December 31, 2024: | | | Number Of
options | | | Weighted
average
exercise
price | | | Weighted
average fair
value per
option | | | Weighted
average
remaining
contractual
life in
years | | | Outstanding at June 30, 2024 | | | 3,255,000 | | | $ | 9.10 | | | $ | 5.13 | | | | 9.1 | | | Granted | | | 312,500 | | | $ | 7.36 | | | $ | 4.48 | | | | 9.6 | | | Exercised | | | - | | | $ | - | | | $ | - | | | | - | | | Expired | | | - | | | $ | - | | | $ | - | | | | - | | | Forfeiture | | | (1,395,416 | ) | | $ | 9.71 | | | $ | 5.51 | | | | 8.7 | | | Outstanding at December 31, 2024 | | | 2,172,084 | | | $ | 8.45 | | | $ | 4.79 | | | | 8.6 | | | Exercisable at December 31, 2024 | | | 535,695 | | | $ | 9.21 | | | $ | 4.93 | | | | 7.1 | |
|
| Schedule of Options Granted were Valued using the Binomial Option Pricing Model |
The options granted during the six months ended December 31, 2024 and 2023
were valued using the binomial option pricing model based on the following range of assumptions: | | | Six months
ended
December 31,
2024 | | | Six months
ended
December 31,
2023 | | | Exercise multiple | | | 2.8 | | | | 2.8 | | | Expected volatility | | | 60 | % | | | 50 | % | | Risk-free interest rate | | | 3.650% - 4.390 | % | | | 4.197 | % | | Expected dividend yield | | | 0 | % | | | 0 | % |
|
| Schedule of Awards Granted to Employees |
RSUs granted to employees vest cumulatively as
to one-third of the restricted stock units on each of the first three anniversaries of the date of grant based on continues service. Each
vested RSU entitles holder to receive one share of common stock upon exercise. RSUs are accounted for as equity using the fair value method,
which requires measurement and recognition of compensation expense for all awards granted to employees, directors and consultants based
upon the grant-date fair value.
| | |
Shares | | |
Weighted average
grant date
fair value | |
| Unvested, June 30, 2024 | |
| 483,606 | | |
$ | 9.76 | |
| Granted | |
| 1,130,346 | | |
| 6.26 | |
| Vested | |
| (553,608 | ) | |
| 7.29 | |
| Canceled and forfeited | |
| (431,465 | ) | |
| 8.00 | |
| Unvested, December 31, 2024 | |
| 628,879 | | |
$ | 6.85 | |
|
| Schedule of Allocation of Stock-Based Compensation |
The following table summarizes the allocation
of stock-based compensation in the accompanying consolidated statements of operations and comprehensive loss:
| | |
Three months ended
December 31, | | |
Six months ended
December 31, | |
| | |
2024 | | |
2023 | | |
2024 | | |
2023 | |
| General and administrative expenses | |
$ | 1,357,591 | | |
$ | 1,850,380 | | |
$ | 2,315,984 | | |
$ | 2,802,033 | |
| Sales and marketing expenses | |
| 87,695 | | |
| 32,541 | | |
| 1,136,890 | | |
| 48,447 | |
| Total | |
$ | 1,445,286 | | |
$ | 1,882,921 | | |
$ | 3,452,874 | | |
$ | 2,850,480 | |
|