Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.22.1
SHAREHOLDERS' EQUITY (Tables)
9 Months Ended
Mar. 31, 2022
SHAREHOLDERS' EQUITY  
Summary of Changes in Shareholders' Equity

Additional

Total

Common Stock

Paid-in

Accumulated

Shareholders'

    

Shares

    

Amount

    

Capital

    

Deficit

    

Equity

Three Months Ended March 31, 2022:

Balances, December 31, 2021

 

15,556

$

16

$

250,816

$

(188,567)

$

62,265

Share-based compensation

850

850

Net loss

 

 

 

 

(11,208)

 

(11,208)

Balances, March 31, 2022

15,556

$

16

$

251,666

$

(199,775)

$

51,907

Three Months Ended March 31, 2021:

Balances, December 31, 2020

8,352

$

8

$

193,831

$

(157,953)

$

35,886

Share-based compensation

530

530

Reclassification of derivative liability for authorized share deficiency

(3,591)

(3,591)

Fair value of warrants issued to consultants for services

2

2

Net loss

(3,695)

(3,695)

Balances, March 31, 2021

 

8,352

$

8

$

190,772

$

(161,648)

$

29,132

Schedule of Derivative Liability Associated with Stock Options

February 17, 2021

March 31, 2021

Stock

Stock

Options

Warrants

Total

Options

Warrants

Total

Number of shares

253

527

780

213

527

740

Weighted average fair value per share

$

6.46

$

3.71

$

4.60

$

4.03

$

1.80

$

2.44

Fair value of derivative liability

$

1,638

$

1,953

$

3,591

$

858

$

949

$

1,807

Schedule of Weighted-Average Assumption for Valuations

February 17, 2021

March 31, 2021

Stock

Stock

Options

Warrants

Total

Options

Warrants

Total

Market price of Common Stock

$

11.99

$

11.99

$

11.99

$

7.06

$

7.06

$

7.06

Exercise price

$

84.19

$

63.88

$

70.48

$

70.48

$

63.84

$

65.75

Risk-free interest rate

0.6

%

0.1

%

0.3

%

1.0

%

0.2

%

0.4

%

Dividend rate

0.0

%

0.0

%

0.0

%

0.0

%

0.0

%

0.0

%

Remaining contractual term (years)

4.6

1.5

2.5

5.3

1.4

2.5

Historical volatility

112.6

%

123.5

%

119.9

%

118.4

%

112.0

%

113.9

%