BioVie (BIVI) 10-Q 14 May 24 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2024	May 10, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	001-39015
Entity Registrant Name	BIOVIE INC.
Entity Central Index Key	0001580149
Entity Tax Identification Number	46-2510769
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	680 W Nye Lane
Entity Address, Address Line Two	Suite 204
Entity Address, City or Town	Carson City
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89703
City Area Code	(775)
Local Phone Number	888-3162
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	BIVI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		61,018,606

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 30,350,337	$ 19,460,883
Investments in U.S. Treasury Bills		14,477,726
Prepaids and other current assets	189,582	102,526
Total current assets	30,539,919	34,041,135
Operating lease right-of-use assets, net	422,169	80,789
Intangible assets, net	465,062	637,095
Goodwill	345,711	345,711
TOTAL ASSETS	31,772,861	35,104,730
CURRENT LIABILITIES:
Accounts payable and accrued expenses	4,409,754	3,476,259
Other current liabilities		48,385
Current portion of operating lease liabilities	57,143	44,909
Current portion of note payable, net of financing cost, unearned premium and discount of $492,905 at March 31, 2024 and $894,926 at June 30, 2023	7,992,904	9,105,074
Warrant liabilities	20,703	894,280
Embedded derivative liability		925,762
Total current liabilities	12,480,504	14,494,669
Operating lease liabilities, net of current portion	366,430	42,505
Note payable, net of current portion, financing cost, unearned premium and discount of $0 and $227,270 at March 31, 2024 and June 30, 2023, respectively.		5,227,270
TOTAL LIABILITIES	12,846,934	19,764,444
STOCKHOLDERS' EQUITY:
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding
Common stock, $0.0001 par value; 800,000,000 shares authorized at March 31, 2024 and June 30, 2023, respectively; 61,018,606 shares issued of which 60,969,846 shares are outstanding at March 31, 2024; and 36,451,829 shares issued of which 36,428,949 shares outstanding at June 30, 2023;	6,115	3,643
Additional paid in capital	348,211,684	316,385,759
Accumulated other comprehensive income		176,591
Accumulated deficit	(329,291,867)	(301,225,705)
Treasury stock	(5)	(2)
Total stockholders' equity	18,925,927	15,340,286
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 31,772,861	$ 35,104,730

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Statement of Financial Position [Abstract]
Unearned premium and discount current	$ 492,905	$ 894,926
Unearned premium and discount	$ 0	$ 227,270
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	61,018,606	36,451,829
Common stock, shares outstanding	60,969,846	36,428,949

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
OPERATING EXPENSES:
Amortization	$ 57,344	$ 57,344	$ 172,033	$ 172,033
Research and development expenses	5,700,447	11,196,835	21,046,369	24,999,665
Selling, general and administrative expenses	1,974,264	2,520,330	6,170,883	8,931,957
TOTAL OPERATING EXPENSES	7,732,055	13,774,509	27,389,285	34,103,655
LOSS FROM OPERATIONS	(7,732,055)	(13,774,509)	(27,389,285)	(34,103,655)
OTHER (INCOME) EXPENSE:
Change in fair value of derivative liabilities	(109,003)	366,093	(1,799,339)	4,154,645
Interest expense	628,711	1,082,762	2,453,979	3,192,631
Interest income	(183,933)	(182,201)	(864,186)	(307,055)
TOTAL OTHER (INCOME) EXPENSE, NET	335,775	1,266,654	(209,546)	7,040,221
NET LOSS	(8,067,830)	(15,041,163)	(27,179,739)	(41,143,876)
Deemed dividend related to ratchet adjustment to warrants	886,423		886,423
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (8,954,253)	$ (15,041,163)	$ (28,066,162)	$ (41,143,876)
NET LOSS PER COMMON SHARE
- Basic	$ (0.20)	$ (0.43)	$ (0.70)	$ (1.32)
- Diluted	$ (0.20)	$ (0.43)	$ (0.70)	$ (1.32)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
- Basic	44,801,084	35,325,580	39,869,913	31,217,382
- Diluted	44,801,084	35,325,580	39,869,913	31,217,382
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (8,954,253)	$ (15,041,163)	$ (28,066,162)	$ (41,143,876)
Other comprehensive (loss) income
Unrealized gain on investments for available-for-sale		16,505		16,505
Reclassification of unrealized gains on available-for-sale investments upon settlement			(176,591)
Total other comprehensive (loss) income		16,505	(176,591)	16,505
Comprehensive loss	$ (8,954,253)	$ (15,024,658)	$ (28,242,753)	$ (41,127,371)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (27,179,739)	$ (41,143,876)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of intangible assets	172,033	172,033
Stock based compensation - restricted stock units	1,020,383	1,589,526
Stock based compensation expense - stock options	2,118,649	3,480,425
Amortization of financing costs	92,202	127,664
Accretion of unearned loan discount	867,449	1,201,083
Accretion of loan premium	200,909	329,267
Realized gain on maturity of available-for sale	(223,865)
Change in operating lease right-of-use assets	33,903	27,705
Gain on termination of operating lease	(5,215)
Change in fair value of derivative liabilities	(1,799,339)	4,154,645
Changes in operating assets and liabilities:
Prepaids and other assets	(87,056)	(111,911)
Accounts payable and accrued expenses	933,495	2,396,405
Operating lease liabilities	(33,909)	(28,519)
Other current liabilities	(48,385)	(1,159,768)
Net cash used in operating activities	(23,938,485)	(28,965,321)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from (purchases of) U.S. Treasury Bills	14,525,000	(12,504,943)
Net cash provided by (used in) investing activities	14,525,000	(12,504,943)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock	27,802,939	48,196,665
Payment of note payable	(7,500,000)
Proceeds from exercise of stock options		2,240
Net proceeds from issuance of common stock - Related Party		5,905,840
Net cash provided by financing activities	20,302,939	54,104,745
Net increase in cash and cash equivalents	10,889,454	12,634,481
Cash and cash equivalents, beginning of period	19,460,883	18,641,716
Cash and cash equivalents, end of period	30,350,337	31,276,197
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	1,293,419	62,693
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES:
Right of use assets obtained in exchange for lease obligations	432,192
Unrealized gain on U.S. Treasury Bills		16,505
Reclassification of unrealized gains on available-for-sale investments upon settlement	176,591
Deemed dividend of ratchet adjustment to warrants	$ 886,423

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stocks [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2022	$ 2,496	$ 254,638,329			$ (250,969,890)	$ 3,670,935
Shares, Outstanding, Beginning Balance at Jun. 30, 2022	24,984,083
Stock - based compensation - stock options		878,640				878,640
Stock-based compensation - restricted stock units		17,537				17,537
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 155	5,903,527				5,903,682
Stock Issued During Period, Shares, New Issues	1,544,872
Proceeds from issuance of common stock, net of costs of $94,160 - Related Party	$ 364	5,905,476				5,905,840
[custom:ProceedsFromIssuanceOfCommonStockRelatedPartyShares]	3,636,364
Net loss					(10,415,711)	(10,415,711)
Ending balance, value at Sep. 30, 2022	$ 3,015	267,343,509			(261,385,601)	5,960,923
Shares, Outstanding, Ending Balance at Sep. 30, 2022	30,165,319
Stock - based compensation - stock options		1,712,787				1,712,787
Stock-based compensation - restricted stock units		1,554,453				1,554,453
Cashless exercise of options	$ 3	(3)
[custom:CashlessExerciseOfOptionsShares]	21,882
Cashless exercise of warrants
[custom:CashlessExerciseOfWarrantsShares]	3,590
Proceeds from exercise of options		2,240				2,240
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	800
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 431	32,254,230				32,524,661
Stock Issued During Period, Shares, New Issues	4,312,741
Net loss					(15,687,002)	(15,687,002)
Ending balance, value at Dec. 31, 2022	$ 3,449	303,137,216			(277,072,603)	26,068,062
Shares, Outstanding, Ending Balance at Dec. 31, 2022	34,504,332
Stock - based compensation - stock options		888,998				888,998
Stock-based compensation - restricted stock units		17,536				17,536
Issuance of restricted stock units	$ 13	(11)	$ (2)
[custom:IssuanceOfRestrictedStockUnitsShares]	134,501		(22,800)
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 151	9,768,171				9,768,322
Stock Issued During Period, Shares, New Issues	1,515,078
Net loss					(15,041,163)	(15,041,163)
Unrealized gain on available-for-sale securities				16,505		16,505
Ending balance, value at Mar. 31, 2023	$ 3,613	313,811,910	$ (2)	16,505	(292,113,766)	21,718,260
Shares, Outstanding, Ending Balance at Mar. 31, 2023	36,153,911		(22,800)
Beginning balance, value at Jun. 30, 2023	$ 3,643	316,385,759	$ (2)	176,591	(301,225,705)	15,340,286
Shares, Outstanding, Beginning Balance at Jun. 30, 2023	36,451,829		(22,880)
Stock - based compensation - stock options		808,027				808,027
Stock-based compensation - restricted stock units		380,834				380,834
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 43	1,905,793				1,905,836
Stock Issued During Period, Shares, New Issues	432,201
Issuance of common stock from vesting of - restricted stock units	$ 4	(4)
[custom:IssuanceOfCommonStockFromVestingOfRestrictedStockUnitsShares]	38,730
Net loss					(10,710,464)	(10,710,464)
Reclassification of unrealized gains on available for sale investments upon settlement				(176,591)		(176,591)
Ending balance, value at Sep. 30, 2023	$ 3,690	319,480,409	$ (2)		(311,936,169)	7,547,928
Shares, Outstanding, Ending Balance at Sep. 30, 2023	36,922,760		(22,880)
Stock - based compensation - stock options		619,701				619,701
Stock-based compensation - restricted stock units		303,173				303,173
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 290	7,421,588				7,421,878
Stock Issued During Period, Shares, New Issues	2,900,902
Issuance of common stock from vesting of - restricted stock units	$ 4	(4)
[custom:IssuanceOfCommonStockFromVestingOfRestrictedStockUnitsShares]	43,052
Net loss					(8,401,445)	(8,401,445)
Ending balance, value at Dec. 31, 2023	$ 3,984	327,824,867	$ (2)		(320,337,614)	7,491,235
Shares, Outstanding, Ending Balance at Dec. 31, 2023	39,866,714		(22,880)
Stock - based compensation - stock options		690,921				690,921
Stock-based compensation - restricted stock units		336,376				336,376
Proceeds from issuance of common stock, net of costs of $2,530,996	$ 2,116	18,473,109				18,475,225
Stock Issued During Period, Shares, New Issues	21,004,384
Issuance of common stock from vesting of - restricted stock units	$ 15	(12)	$ (3)
[custom:IssuanceOfCommonStockFromVestingOfRestrictedStockUnitsShares]	147,508		(25,880)
Net loss					(8,067,830)	(8,067,830)
Deemed dividend for ratchet adjustment to warrants		886,423			(886,423)
Ending balance, value at Mar. 31, 2024	$ 6,115	$ 348,211,684	$ (5)		$ (329,291,867)	$ 18,925,927
Shares, Outstanding, Ending Balance at Mar. 31, 2024	61,018,606		(48,760)

Background Information

Background Information	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background Information	1. Background Information BioVie Inc. (the “Company” or “we” or “our”) is a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including neurological and neuro-degenerative disorders and liver disease. The Company acquired the biopharmaceutical assets of NeurMedix, Inc. (“NeurMedix”) a privately held clinical-stage pharmaceutical company and a related party in June 2021 . Neurodengenerative Disease Program In neurodegenerative disease, the Company’s drug candidate NE3107 inhibits activation of inflammatory actions extracellular single-regulated kinase (“ERK”) and nuclear factor kappa-light-chain-enhancer of activated B cells (“NFκB”) (including interactions with tumor necrosis factor (“TNF”) signaling and other relevant inflammatory pathways) that lead to neuroinflammation and insulin resistance. NE3107 does not interfere with their homeostatic functions (e.g., insulin signaling and neuron growth and survival). Both inflammation and insulin resistance are drivers of AD and PD. Alzheimer’s Disease (NCT05083260) On November 29, 2023, the Company announced the analysis of its unblinded, topline efficacy data from its Phase 3 clinical trial (NCT04669028) of NE3107 in the treatment of mild to moderate AD. The study has co-primary endpoints looking at cognition using the Alzheimer’s Disease Assessment Scale-Cognitive Scale (ADAS-Cog 12) and function using the Clinical Dementia Rating-Sum of Boxes (CDR-SB). Patients were randomly assigned, 1:1 versus placebo, to receive sequentially 5 mg of NE3107 orally twice a day for 14 days, then 10 mg orally twice a day for 14 days, followed by 26 weeks of 20 mg orally twice daily. Upon trial completion, as the Company began the process of unblinding the trial data, the Company found significant deviation from protocol and current good clinical practices (“cGCPs”) violations at 15 study sites (virtually all of which were from one geographic area). This highly unusual level of suspected improprieties led the Company to exclude all patients from these sites and to refer the sites to the FDA Office of Scientific Investigations (“OSI”) for further action. After the patient exclusions, 81 patients remained in the Modified Intent to Treat population, 57 of whom were in the Per-Protocol population which included those who completed the trial and were verified to take study drug from pharmacokinetic data. The trial was originally designed to be 80% powered with 125 patients in each of the treatment and placebo arms. The unplanned exclusion of so many patients has left the trial underpowered for the primary endpoints. In the Per-Protocol population, which included those patients who completed the trial and who were further verified to have taken the study drug (based on pharmacokinetic data), an observed descriptive change from baseline appeared to suggest a slowing of cognitive loss; these same patients experienced an advantage in age deceleration vs. placebo as measured by DNA epigenetic change. Age deceleration is used by longevity researchers to measure the difference between the patient’s biological age, in this case as measured by the Horvath DNA methylation Skin Blood Clock, relative to the patient’s actual chronological age. This test was a non-primary/secondary endpoint, other-outcome measure, done via blood test collected at week 30 (end of study). Additional DNA methylation data continues to be collected and analyzed. Parkinson’s Disease (NCT05083260) The Phase 2 study of bezisterim (NE3107) for the treatment of PD (NCT05083260), completed in December 2022, was a double-blind, placebo-controlled, safety, tolerability, and pharmacokinetics study in PD participants treated with carbidopa/levodopa and bezisterim (NE3107). Forty-five patients with a defined L-dopa “off state” were randomized 1:1 to placebo: bezisterim (NE3107) 20 mg twice daily for 28 days. This trial was launched with two design objectives: 1) the primary objective was safety and a drug-drug interaction study as requested by the FDA to measure the potential for adverse interactions of bezisterim (NE3107) with carbidopa/ levodopa; and 2) the secondary objective was to determine if preclinical indications of promotoric activity and apparent enhancement of levodopa activity could be seen in humans. Both objectives were met. Long COVID Program In April 2024, the Company announced the grant of a clinical trial award of up to $13.1 million from the U.S. Department of Defense (“DOD”), awarded through the Peer Reviewed Medical Research Program (“PRMRP”) of the Congressionally Directed Medical Research Programs (“CDMRP”). The award can provide up to 2 years of non-dilutive funding for a Phase 2b clinical trial that will assess bezisterim (NE3107) for the treatment of neurological symptoms that are associated with long COVID. The Company anticipates the trial to commence by early 2025. Long COVID is a condition in which symptoms of COVID-19, the acute respiratory disease caused by the SARS-CoV-2 virus, persist for an extended period of time, generally three months or more. The Centers for Disease Control recently reported that 6.8% of adults in the United States (more than 17 million individuals) currently or previously had long COVID. Symptoms, which include fatigue, cognitive dysfunction and sleep disturbances, are debilitating. The loss in quality of life and earnings and increased medical costs has an enormous economic impact estimated to be 3.7 trillion dollars. To date there are no therapies proven effective for treatment. Chronic inflammation is one of the main hypotheses that researchers have proposed to explain the persistence of symptoms in long COVID. Specifically in individuals with “brain fog,” sustained systemic inflammation and persistent localized blood-brain-barrier (“BBB”) dysfunction are key physiological features. Bezisterim (NE3107) permeates the BBB and has been shown to modulate inflammation via the activation of NF-kB, thus representing a novel oral treatment targeting an underlying cause of long COVID symptoms. Neuroinflammation, insulin resistance, and oxidative stress are common features in the major neurodegenerative diseases, including AD, PD, frontotemporal lobar dementia, and Amyotrophic lateral sclerosis. Bezisterim (NE3107) is an investigational oral small molecule, blood-brain permeable, compound with potential anti-inflammatory, insulin sensitizing, and ERK-binding properties that may allow it to selectively inhibit ERK-, NFκB- and TNF-stimulated inflammation. Bezisterim’s (NE3107) potential to inhibit neuroinflammation and insulin resistance forms the basis for the Company’s work testing the molecule in AD, PD, and long COVID patients. Bezisterim (NE3107) is patented in the United States, Australia, Canada, Europe and South Korea. Liver Disease Program In liver disease, our investigational drug candidate BIV201 (continuous infusion terlipressin), which has been granted both FDA Fast Track designation status and FDA Orphan Drug status, is being evaluated and discussed after receiving guidance from the FDA regarding the design of Phase 3 clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. BIV201 is administered as a patent-pending liquid formulation. In June 2021, the Company initiated a Phase 2 study (NCT04112199) designed to evaluate the efficacy of BIV201 (terlipressin, administered by continuous infusion for two 28-day treatment cycles) combined with standard-of-care (“SOC”), compared to SOC alone, for the treatment of refractory ascites. The primary endpoints of the study are the incidence of ascites-related complications and change in ascites fluid accumulation during treatment compared to a pre-treatment period. In March 2023 the company announced enrollment was paused and that data from the first 15 patients treated with BIV201 plus SOC appeared to show at least a 30% reduction in ascites fluid during the 28 days after treatment initiation compared to the 28 days prior to treatment. The change in ascites volume was significantly different from those patients receiving SOC treatment. Patients who completed the treatment with BIV201 experienced a 53% reduction in ascites fluid, which was sustained (43% reduction) during the three months after treatment initiation as compared to the three-month pre-treatment period. In June 2023, the Company requested and subsequently received guidance from the FDA regarding the design and endpoints for definitive clinical testing of BIV201 for the treatment of ascites due to chronic liver cirrhosis. The Company is currently finalizing protocol designs for the Phase 3 study of BIV201 for the treatment of ascites due to chronic liver cirrhosis. While the active agent, terlipressin, is approved in the U.S. and in about 40 countries for related complications of advanced liver cirrhosis, treatment of ascites is not included in these authorizations. Patients with refractory ascites suffer from frequent life-threatening complications, generate more than $5 billion in annual treatment costs, and have an estimated 50% mortality rate within 6 to 12 months. The FDA has not approved any drug to treat refractory ascites. The BIV201 development program was initiated by LAT Pharma LLC. On April 11, 2016, the Company acquired LAT Pharma LLC and the rights to its BIV201 development program. The Company currently owns all development and marketing rights to this drug candidate. Pursuant to the Agreement and Plan of Merger entered into on April 11, 2016, between our predecessor entities, LAT Pharma LLC and NanoAntibiotics, Inc., BioVie is obligated to pay a low single digit royalty on net sales of BIV201 (continuous infusion terlipressin) to be shared among LAT Pharma Members, PharmaIn Corporation, and The Barrett Edge, Inc.

Liquidity

Liquidity	9 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	2. Liquidity The Company’s operations are subject to a number of factors that can affect its operating results and financial conditions. Such factors include, but are not limited to: the results of clinical testing and trial activities of the Company’s products, the Company’s ability to obtain regulatory approval to market its products; competition from products manufactured and sold or being developed by other companies; the price of, and demand for, Company products; the Company’s ability to negotiate favorable licensing or other manufacturing and marketing agreements for its products; and the Company’s ability to raise capital. The Company’s financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2024, the Company had working capital of approximately $ 18.1 30.4 18.9 329.3 The future viability of the Company is largely dependent upon its ability to raise additional capital to finance its operations. Management expects that future sources of funding may include sales of equity, obtaining loans, or other strategic transactions. Although management continues to pursue the Company’s strategic plans, there is no assurance that the Company will be successful in obtaining sufficient financing on terms acceptable to the Company, if at all, to fund continuing operations. These circumstances raise substantial doubt on the Company’s ability to continue as a going concern. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	3. Significant Accounting Policies Basis of Presentation – Interim Financial Information These unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United State of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”) for Interim Reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. The condensed balance sheet at June 30, 2023 was derived from audited annual financial statements but does not contain all the footnote disclosures from the annual financial statements. These unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements for the fiscal years ended June 30, 2023 and 2022 in our Annual Report on Form 10-K filed with the SEC on August 16, 2023 (the “2023 Form 10-K”). A summary of significant accounting policies can also be found in those audited financial statements in the 2023 Form 10-K. Net loss per Common Share Basic net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock, par value $ 0.0001 The table below shows the number of outstanding stock options, warrants and restricted stock units as of March 31, 2024 and 2023: Schedule of dilutive securities were excluded from the computation of diluted loss per share March 31, 2024 March 31, 2023 Number of Shares Number of Shares Stock Options 4,022,758 3,448,997 Warrants 19,320,285 7,770,285 Restricted Stock Units 539,920 527,549 Total 23,882,963 11,746,831 Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”). There have been no recent ASUs that are expected to have a material impact on the Company’s balance sheets or statements of operations and comprehensive loss since the 2023 Form 10-K. Cash and cash equivalents Cash and cash equivalents consisted of cash deposits and money market funds held at banks and funds held in brokerage accounts which included a U.S. treasury money market fund and U.S. Treasury Bills with original maturities of three months or less. Investments in U.S. Treasury Bills Investments in U.S. Treasury Bills with maturities greater than three months on the date of purchase, are accounted for as available for sale and are recorded at fair value. Unrealized gains were included in other comprehensive (loss) income in the accompanying condensed statements of operations and comprehensive loss. Upon the maturity and settlement of these investments, realized gains were recorded as a component of interest income on the accompanying condensed statement of operations and comprehensive loss. Concentration of Credit Risk in the Financial Service Industry As of March 31, 2024, the Company had cash deposited in certain financial institutions in excess of federally insured levels. The Company regularly monitors the financial stability of these financial institutions and believes that it is not exposed to any significant credit risk in cash and cash equivalents. However, in March and April 2023, certain U.S. government banking regulators took steps to intervene in the operations of certain financial institutions due to liquidity concerns, which caused general heightened uncertainties in financial markets. While these and other current events have not had a material direct impact on the Company’s operations, if further liquidity and financial stability concerns arise with respect to banks and financial institutions, either nationally or in specific regions, the Company’s ability to access cash or enter into new financing arrangements may be threatened, which could have a material adverse effect on its business, financial condition and results of operations. Fair value measurement of assets and liabilities We determine the fair values of our financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 – Inputs are unobservable inputs based on our assumptions. The Company’s financial instruments include cash, accounts payable, the carrying value of the operating lease liabilities, notes payable and other derivative liabilities (see Note 9). The carrying amounts of cash and accounts payable approximate their fair value, due to the short-term nature of these items. The carrying amounts of notes payable and operating lease liabilities approximate their fair values since they bear interest at rates which approximate market rates for similar debt instruments.

Investments in U.S. Treasury Bi

Investments in U.S. Treasury Bills Available for Sale	9 Months Ended
	Mar. 31, 2024
Investments In U.s. Treasury Bills Available For Sale
Investments in U.S. Treasury Bills Available for Sale	4. Investments in U.S. Treasury Bills Available for Sale The following is a summary of the U.S. Treasury Bills held at June 30, 2023: Schedule of U.S. treasury bills held Amortized Cost Basis Gross Unrealized Gain Fair Value Total Accumulated Other Comprehensive Income U.S. Treasury Bills due in 3 - 6 months $ 14,301,136 $ 176,591 $ 14,477,726 $ 176,591 During the fiscal year ended June 30, 2023, the Company purchased a total of approximately $ 46 223,865

Intangible Assets

Intangible Assets	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	5. Intangible Assets The Company’s intangible assets consist of intellectual property acquired from LAT Pharma and are amortized over their estimated useful lives. The following is a summary of the Company’s intangible assets: Schedule of intangible assets March 31, 2024 June 30, 2023 Intellectual Property $ 2,293,770 $ 2,293,770 Less Accumulated Amortization (1,828,708 ) (1,656,675 ) Intellectual Property, Net $ 465,062 $ 637,095 Amortization expense was $ 57,344 172,033 10 Estimated future amortization expense is as follows: Schedule of future amortization expense Year ending June 30, 2024 (Remaining 3 months) $ 57,344 2025 229,377 2026 178,341 $ 465,062

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions Equity Transactions with Acuitas On July 15, 2022, the Company entered into a securities purchase agreement with Acuitas Group Holdings, LLC (“Acuitas”), the Company’s majority stockholder, pursuant to which Acuitas agreed to purchase from the Company, in a private placement, (i) an aggregate of 3,636,364 886,423 1.07 1.82 1.00 3.4 4.4% 95.0% On August 15, 2022, the Company received net proceeds of approximately $5.9 million, net of costs of approximately $94,000, and entered into an amended and restated registration agreement with Acuitas, which amended and restated that certain registration rights agreement, dated as of June 10, 2021, by and between the Company and Acuitas (the “Existing Registration Rights Agreement”), to amend the definition of “Registrable Securities” in the Existing Registration Rights Agreement to include the PIPE Shares and the PIPE Warrant Shares as Registrable Securities thereunder.

Other Liabilities

Other Liabilities	9 Months Ended
	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities	7. Other Liabilities The current portion of other liabilities at June 30, 2023 was approximately $ 48,000

Notes Payable

Notes Payable	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Notes Payable	8. Notes Payable On November 30, 2021 (the “Closing Date”), the Company entered into a Loan and Security Agreement and the Supplement to the Loan and Security Agreement and Promissory Notes (together, the “Loan Agreement”) with Avenue Venture Opportunities Fund, L.P. (“AVOPI”) and Avenue Venture Opportunities Fund II, L.P. (“AVOPII,” and together with AVOPI, “Avenue”) for growth capital loans in an aggregate commitment amount of up to $20 million (the “Loan”). On the Closing Date, $15 million of the Loan was funded (“Tranche 1”). The Loan provided for an additional $5 million to be available to the Company on or prior to September 15, 2022, subject to the Company’s achievement of certain milestones with respect to certain of its ongoing clinical trials, which were not achieved. The Loan bears interest at an annual rate equal to the greater of (a) the sum of 7.00% 8.50% The Loan Agreement required monthly interest-only payments during the first eighteen months of the term of the Loan. Following the interest-only period, on July 1, 2023, the Company pays equal monthly payments of principal, plus accrued interest, until the Loan’s maturity date when all remaining principal and accrued interest is due. If the Company prepays the Loan, it will be required to pay (a) a prepayment fee in an amount equal to 3.0% of the principal amount of the Loan that is prepaid during the interest-only period; and (b) a prepayment fee in an amount equal to 1.0% of the principal amount of the Loan that is prepaid after the interest-only period. At the Loan’s maturity date, or on the date of the prepayment of the Loan, the Company will be obligated to pay a final payment equal to 4.25% of the Loan commitment amount, the sum of Tranche 1 and Tranche 2. The Loan Agreement includes a conversion option to convert up to $5.0 million of the principal amount of the Loan outstanding at the option of Avenue, into shares of the Company’s Common Stock at a conversion price of $6.98 per share. On the Closing Date, the Company issued to Avenue warrants to purchase 361,002 shares of Common Stock of the Company (the “Avenue Warrants”) at an exercise price per share equal to $5.82. The Avenue Warrants are exercisable until November 30, 2026. The amount of the carrying value of the notes payable was determined by allocating portions of the outstanding principal of the notes; approximately $ 1.4 2.2 3.6 390,000 850,000 The total interest expense of approximately $ 629,000 1.1 327,000 547,000 24,000 43,000 222,000 400,000 52,000 93,000 2.5 3.2 1.3 1.5 92,000 128,000 867,000 1.2 201,000 329,000 As of March 31, 2024, the remaining principal balance of $7.5 million under the Loan is payable in 9 monthly equal installments. For the three and nine months ended March 31, 2024, the Company paid back $2.5 million and $7.5 million respectively, of the original loan of $15 million. The following is a summary of the Notes Payable as of March 31, 2024 and June 30, 2023: Current portion of Notes Payable Schedule of note payable March 31, 2024 June 30, 2023 Current portion of Notes Payable $ 7,500,000 $ 10,000,000 Less debt financing costs (28,369 ) (108,751 ) Less unearned discount (266,908 ) (1,023,145 ) Plus accretion of loan premium 788,181 236,970 Current portion of Notes Payable, net of financing costs, unearned premiums and discount $ 7,992,904 $ 9,105,074 Non-current portion of Notes Payable March 31, 2024 June 30, 2023 Notes Payable $ - $ 5,000,000 Less debt financing costs - (11,820 ) Less unearned discount - (111,212 ) Plus accretion of loan premium - 350,302 Notes Payable, net of the current portion financing costs, unearned premiums and discount $ - $ 5,227,270 Estimated future amortization expense and accretion of premium and discount is as follows: Schedule of estimated future amortization expense and accretion of premium Unearned Discount Debt Financing Costs Loan accretion Premium Year ending June 30, 2024 (Remaining 3 months) $ 155,696 $ 16,549 $ 36,061 2025 111,212 11,820 25,758 Total $ 266,908 $ 28,369 $ 61,819

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. Fair Value Measurements At March 31, 2024 and June 30, 2023, the estimated fair value of derivative liabilities measured on a recurring basis are as follows: Schedule of derivative liabilities at fair value Fair Value Measurements at March 31, 2024 Level 1 Level 2 Level 3 Total Derivative liability - Warrants $ - $ - $ 20,703 $ 20,703 Derivative liability - Conversion option on note payable - - - - Total derivatives $ - $ - $ 20,703 $ 20,703 Fair Value Measurements at June 30, 2023 Level 1 Level 2 Level 3 Total Derivative liability - Warrants $ - $ - $ 894,280 $ 894,280 Derivative liability - Conversion option on note payable - - 925,762 925,762 Total derivatives $ - $ - $ 1,820,042 $ 1,820,042 The following table presents the activity for liabilities measured at fair value using unobservable inputs for the nine months ended March 31, 2024: Fair value, liabilities measured on recurring basis Derivative liabilities - Derivative liability - Balance at June 30, 2023 $ 894,280 $ 925,762 Additions to level 3 liabilities - - Change in in fair value of level 3 liabilities (873,577 ) (925,762 ) Transfer in and/or out of Level 3 - - Balance at March 31, 2024 $ 20,703 $ - The following table presents the activity for liabilities measured at fair value using unobservable inputs for the nine months ended March 31, 2023: Derivative liabilities - Derivative liability - Balance at June 30, 2022 $ 194,531 $ 188,030 Additions to level 3 liabilities - - Change in in fair value of level 3 liabilities 1,762,250 2,392,395 Transfer in and/or out of Level 3 - - Balance at March 31, 2023 $ 1,956,781 $ 2,580,425 The fair values of derivative liabilities for the Avenue Warrants and the conversion option of the Note at March 31, 2024 in the accompanying condensed balance sheet, were approximately $21,000 and approximately zero, respectively. The total change in the fair value of the derivative liabilities totaled approximately $109,000 and $1.8 million for the three and nine months ended March 31, 2024, respectively; and accordingly, was recorded in the accompanying condensed statement of operations and comprehensive loss. The assumptions used in the Black Scholes model to value the derivative liabilities at March 31, 2024 included the closing stock price of $ 0.53 5.82 2.7 4.5% 93.0% 6.98 0.67 5.3% 104.0% Derivative liability – Avenue Warrants The Company accounts for stock purchase warrants as either equity instruments or derivative liabilities depending on the specific terms of the warrant agreements. Under applicable accounting guidance, stock warrants that are precluded from being indexed to the Company’s own stock because of full-rachet and anti-dilution provisions or adjustments to the strike price due to an occurrence of a future event are accounted for as derivative financial instruments. The Avenue Warrants were not considered to be indexed to the Company’s own stock, and accordingly, were recorded as a derivative liability at fair value in the accompanying condensed balance sheets at March 31, 2024 and June 30, 2023. The Black Scholes model was used to calculate the fair value of the warrant derivative to bifurcate the warrant derivative amount from the Avenue Loan amount funded. The Avenue Warrants are recorded at their fair values at the date of issuance and remeasured at March 31, 2024 and June 30, 2023. Embedded derivative liability – Conversion Option The embedded derivative liability represents the optional conversion feature of up to $5.0 million of the outstanding Loan, which meets the definition of a derivative and requires bifurcation from the loan amount. The Black Scholes model was used to calculate the fair value of the embedded derivative to bifurcate the embedded derivative amount representing the conversion option from the Avenue Loan amount funded. Financial assets As of March 31, 2024, investments in U.S. Treasury Bills were valued through use of quoted prices and are classified as Level 1. The following table presents information about our assets that are measured at fair value on a recurring basis. Measured at fair value on a recurring basis Fair Value Measurements at March 31, 2024 Level 1 Level 2 Level 3 Total Cash $ 11,279,241 $ - $ - $ 11,279,241 U.S. Treasury Bills due in 3 months or less at purchase 19,071,096 - - 19,071,096 Total $ 30,350,337 $ - $ - $ 30,350,337 Fair Value Measurements at June 30, 2023 Level 1 Level 2 Level 3 Total Cash $ 6,304,543 $ - $ - $ 6,304,543 U.S. Treasury Bills due in 3 months or less at purchase 13,156,340 - - 13,156,340 U.S. Treasury Bills due in 3 - 6 months at purchase 14,477,726 - - 14,477,726 Total $ 33,938,609 $ - $ - $ 33,938,609

Equity Transactions

Equity Transactions	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity Transactions	10. Equity Transactions Issuance of common stock for cash On August 31, 2022, the Company entered into a Controlled Equity Offering Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. and B. Riley Securities, Inc. (collectively, the “Agents”), pursuant to which the Company may issue and sell from time-to-time shares of the Company’s common stock through the Agents, subject to the terms and conditions of the Sales Agreement. On April 6, 2023, the Company and B. Riley Securities, Inc. mutually agreed to terminate B. Riley Securities, Inc.’s role as a sales agent under the Sales Agreement. During the three months ended March 31, 2024, the Company sold 4,384 6,500 3% 201 3,337,487 9.3 3% 377,000 During the three months ended March 31, 2023, the Company sold 1,515,078 9.8 3% 339,000 7,372,691 48.2 3% 1.9 On March 6, 2024, the Company closed a best efforts public offering (the “Offering”) of 15,000,000 0.0001 6,000,000 10,500,000 1.00 The Common Warrants have an exercise price of $1.50 per share and are immediately exercisable upon issuance for a period of five years following the date of issuance. Stock Options The following table summarizes the activity relating to the Company’s stock options for the nine months ended March 31, 2024: Schedule of summarizes the activity relating to the Company’s stock options Options Weighted-Average Weighted Remaining Aggregate Intrinsic Outstanding at June 30, 2023 3,952,864 $ 7.10 6.3 $ 1,067,966 Granted 394,417 3.22 6.1 - Options Expired (6,400 ) 4.61 - - Options Canceled (318,123 ) 5.72 - - Outstanding at March 31, 2024 4,022,758 $ 6.83 5.3 $ - Exercisable at March 31, 2024 2,211,392 $ 8.15 4.3 $ - The fair value of each option grant on the date of grant is estimated using the Black-Scholes option pricing model. The pricing model reflects the following weighted-average assumptions for the nine months ended March 31, 2024 and 2023: Schedule of assumptions used March 31, 2024 June 30, 2023 Expected life of options (in years) 5 6 Expected volatility 87.11 % 81.65 % Risk free interest rate 4.80 % 3.82 % Dividend Yield 0 % 0 % The total stock based compensation expense from stock options for the three-months ended March 31, 2024 and 2023 was of $ 690,921 888,998 2,118,649 3,480,425 Issuance and modification of restricted stock units and options: On November 23, 2022, the Company issued equity awards for the board of directors’ annual compensation. Four directors received restricted stock units (“RSUs”) to purchase a total of 155,636 6.12 952,492 195,000 6.12 791,700 1,744,192 On November 9, 2023, the Company issued equity awards for the board of directors’ annual compensation. Four directors received restricted stock units (“RSUs”) to purchase a total of 182,696 3.01 137,479 215,383 183,250 3.01 83,837 118,303 In December 2023, the Company terminated five employees and as part of their severance agreement modified their equity awards that had been granted pursuant to the 2019 Omnibus Plan. The modifications included the acceleration of certain tranche vesting of stock option awards to purchase a total of 56,233 shares of common stock (“Accelerated Options”), effective on the December Separation Date, as defined in severance agreement (“Separation Date”); and extended the expiration date for one year from the Separation Date for both the Accelerated Options and any vested and unexercised stock options held by the terminated employees as of the Separation Date. Accordingly, the Company remeasured the modified awards based on the stock price of $1.54 per share at the close on the Separation Date and a one-year life. The net adjustment for both stock option modifications was a net credit of $127,199 and was recognized as adjustment to stock compensation expense for the three months ended December 31, 2023. The modification also included the acceleration of an additional tranche vesting of 10,302 Restricted Stock Units, (“RSUs”) as of the Separation date. The modified RSUs were remeasured based on the stock price of $1.54 per share at close on the Separation Date and totaled $15,865, representing an additional in stock-based compensation for the three months ended December 31, 2023. The Company canceled 171,556 unvested stock options and 10,303 unvested RSUs. The following table summarizes vesting of restricted stock units: Schedule of vesting of restricted common stock Number of Shares Weighted Average Grant Unvested at June 30, 2023 596,457 $ 5.24 Issued 182,696 3.01 Vested (228,930 ) 5.50 Canceled (10,303 ) 6.12 Unvested at March 31, 2024 539,920 $ 4.59 The total stock-based compensation expense from restricted stock units for the three-months ended March 31, 2024 and 2023 was of $ 336,376 17,537 1,020,383 1,589,527 There were 45,675 101,833 25,880 Issuance of Stock Options under the 2019 Omnibus Plan. On October 3, 2023, the Company granted stock options to purchase 211,167 20% 80% 48 3.41 Stock Warrants The following table summarizes warrant activity during the nine months ended March 31, 2024: Summary of warrants activity Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Outstanding and exercisable at June 30, 2023 7,770,285 $ 2.06 4.0 $ 18,318,954 Granted 11,550,000 1.48 5.0 - Outstanding and exercisable at March 31, 2024 19,320,285 $ 1.40 4.3 $ - Of the above warrants, 101,380 expire in the fiscal year ending June 30, 2025, 35,175 expire in the fiscal year ending June 30, 2026, 7,633,730 expire in the fiscal year ending June 30, 2027 and 11,550,000 expire in the fiscal year ending June 30, 2029. On March 6, 2024, the Company issued 11,550,000 warrants at a weighted average exercise price of $1.48 as part of the Offering (see Note 10).

Leases

Leases	9 Months Ended
	Mar. 31, 2024
Leases
Leases	11. Leases Office Lease The Company pays an annual rent of $2,200 for its headquarters at 680 W Nye Lane, Suite 201, Carson City Nevada 89703. The rental agreement was for a one-year term and commenced on October 1, 2022 and has been subsequently renewed for another year at the same rate. The Company’s San Diego office lease at 5090 Shoreham Place Suite 212, San Diego, CA 92122 which commenced on March 1, 2022, was for a term of 38 months with a base rate of $4,300, and annual increases of three percent. In February 2024, the Company amended the lease agreement which allowed the Company to vacate the then current space and move to a larger space at Suite 206. The current monthly base rate for the new office space is $9,685, with an annual increase of four percent. The term for the new office lease is 60 months and commenced on February 12, 2024. The lease that was in place for the 5090 Shoreham Place Suite 212 office was effectively extinguished upon the commencement of the new office space lease on February 12, 2024, resulting in the write off of the corresponding remaining right-of-use asset and operating lease liability of $ 56,909 62,124 5,215 Total operating lease expense for the three months ended March 31, 2024 and 2023 of approximately $ 20,000 13,000 46,000 37,000 The right-of-use asset, net and current and non-current portion of the operating lease liabilities included in the accompany condensed balance sheets are as follows: Schedule of deferred tax assets March 31, 2024 June 30, 2023 Assets Operating lease right-of-use asset, net $ 422,169 $ 80,789 Liabilities Current portion of operating lease liabilities $ 57,143 $ 44,909 Operating lease liabilities, net of current portion 366,430 42,505 Total operating lease liabilities $ 423,573 $ 87,414 At March 31, 2024, the future estimated minimum lease payments under non-cancelable operating leases are as follows: Schedule of future estimated minimum lease payments under non-cancelable operating leases Year ending June 30, 2024 (Remaining 3 months) $ 29,055 2025 117,915 2026 122,042 2027 126,313 2028 130,734 2029 77,796 Total minimum lease payments 603,855 Less amount representing interest (180,282 ) Present value of future minimum lease payments 423,573 Less current portion of operating lease liabilities (57,143 ) Operating lease liabilities, net of current portion $ 366,430 Total cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2024 and 2023, were $ 23,670 12,650 49,470 37,700 The weighted average remaining lease term and discount rate as of March 31, 2024 and June 30, 2023 were as follows: Schedule of weighted average remaining lease term and discount rate March 31, 2024 June 30, 2023 Weighted average remaining lease term (Years) Operating leases 4.8 1.8 Weighted average discount rate Operating leases 15.00 % 10.75 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Royalty Agreements Pursuant to the Agreement and Plan of Merger entered into on April 11, 2016, by and between our predecessor entities, LAT Pharma and NanoAntibiotics, Inc., the Company is obligated to pay a low single digit royalty on net sales of BIV201 (continuous infusion terlipressin) to be shared by the members of LAT Pharma Members, PharmaIn Corporation, and The Barrett Edge, Inc. Pursuant to the Technology Transfer Agreement entered into on July 25, 2016, by and between the Company and the University of Padova (Italy), the Company is obligated to pay a low single digit royalty on net sales of all terlipressin products covered by US patent no. 9,655,645 and any future foreign issuances, capped at a maximum of $200,000 per year. Shareholder class action complaint On January 19, 2024, a purported shareholder class action complaint, captioned Eric Olmstead v. BioVie Inc. et al. in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The class action is on behalf of purchasers of the Company’s securities during the period from August 5, 2021 through November 29, 2023 and seeks unspecified monetary damages on behalf of the putative class and an award of costs and expenses, including attorney’s fees. The Company believes the lawsuit is without merit and intends to defend the case vigorously. At this early stage of the proceedings, the Company is unable to make any prediction regarding the outcome of the litigation. No adjustment or accruals have been reflected in the accompanying condensed financial statements.

Employee Benefit Plan

Employee Benefit Plan	9 Months Ended
	Mar. 31, 2024
Employee Benefit Plan
Employee Benefit Plan	13. Employee Benefit Plan On August 1, 2021, the Company began sponsoring an employee benefit plan subject to Section 401(K) of the Internal Revenue Service Code (the “401K Plan”) pursuant to which, all employees meeting eligibility requirements are able to participate. Subject to certain limitations in the Internal Revenue Code, eligible employees are permitted to make contributions to the 401K Plan on a pre-tax salary reduction basis and the Company will match 5% of the first 5% of an employee’s contributions to the 401K Plan., The Company made contributions for the three months ended March 31, 2024 and 2023 of approximately $ 53,915 16,000 105,000 80,100

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation – Interim Financial Information	Basis of Presentation – Interim Financial Information These unaudited interim condensed financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United State of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (the “SEC”) for Interim Reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited interim condensed financial statements furnished reflect all adjustments (consisting of normal recurring accruals) that are, in the opinion of management, considered necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of the results for the full year. The condensed balance sheet at June 30, 2023 was derived from audited annual financial statements but does not contain all the footnote disclosures from the annual financial statements. These unaudited interim condensed financial statements should be read in conjunction with the Company’s audited financial statements for the fiscal years ended June 30, 2023 and 2022 in our Annual Report on Form 10-K filed with the SEC on August 16, 2023 (the “2023 Form 10-K”). A summary of significant accounting policies can also be found in those audited financial statements in the 2023 Form 10-K.
Net loss per Common Share	Net loss per Common Share Basic net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock, par value $ 0.0001 The table below shows the number of outstanding stock options, warrants and restricted stock units as of March 31, 2024 and 2023: Schedule of dilutive securities were excluded from the computation of diluted loss per share March 31, 2024 March 31, 2023 Number of Shares Number of Shares Stock Options 4,022,758 3,448,997 Warrants 19,320,285 7,770,285 Restricted Stock Units 539,920 527,549 Total 23,882,963 11,746,831
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”). There have been no recent ASUs that are expected to have a material impact on the Company’s balance sheets or statements of operations and comprehensive loss since the 2023 Form 10-K.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents consisted of cash deposits and money market funds held at banks and funds held in brokerage accounts which included a U.S. treasury money market fund and U.S. Treasury Bills with original maturities of three months or less.
Investments in U.S. Treasury Bills	Investments in U.S. Treasury Bills Investments in U.S. Treasury Bills with maturities greater than three months on the date of purchase, are accounted for as available for sale and are recorded at fair value. Unrealized gains were included in other comprehensive (loss) income in the accompanying condensed statements of operations and comprehensive loss. Upon the maturity and settlement of these investments, realized gains were recorded as a component of interest income on the accompanying condensed statement of operations and comprehensive loss.
Concentration of Credit Risk in the Financial Service Industry	Concentration of Credit Risk in the Financial Service Industry As of March 31, 2024, the Company had cash deposited in certain financial institutions in excess of federally insured levels. The Company regularly monitors the financial stability of these financial institutions and believes that it is not exposed to any significant credit risk in cash and cash equivalents. However, in March and April 2023, certain U.S. government banking regulators took steps to intervene in the operations of certain financial institutions due to liquidity concerns, which caused general heightened uncertainties in financial markets. While these and other current events have not had a material direct impact on the Company’s operations, if further liquidity and financial stability concerns arise with respect to banks and financial institutions, either nationally or in specific regions, the Company’s ability to access cash or enter into new financing arrangements may be threatened, which could have a material adverse effect on its business, financial condition and results of operations.
Fair value measurement of assets and liabilities	Fair value measurement of assets and liabilities We determine the fair values of our financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 – Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 – Inputs are unobservable inputs based on our assumptions. The Company’s financial instruments include cash, accounts payable, the carrying value of the operating lease liabilities, notes payable and other derivative liabilities (see Note 9). The carrying amounts of cash and accounts payable approximate their fair value, due to the short-term nature of these items. The carrying amounts of notes payable and operating lease liabilities approximate their fair values since they bear interest at rates which approximate market rates for similar debt instruments.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of dilutive securities were excluded from the computation of diluted loss per share	Schedule of dilutive securities were excluded from the computation of diluted loss per share March 31, 2024 March 31, 2023 Number of Shares Number of Shares Stock Options 4,022,758 3,448,997 Warrants 19,320,285 7,770,285 Restricted Stock Units 539,920 527,549 Total 23,882,963 11,746,831

Investments in U.S. Treasury _2

Investments in U.S. Treasury Bills Available for Sale (Tables)	9 Months Ended
	Mar. 31, 2024
Investments In U.s. Treasury Bills Available For Sale
Schedule of U.S. treasury bills held	Schedule of U.S. treasury bills held Amortized Cost Basis Gross Unrealized Gain Fair Value Total Accumulated Other Comprehensive Income U.S. Treasury Bills due in 3 - 6 months $ 14,301,136 $ 176,591 $ 14,477,726 $ 176,591

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	Schedule of intangible assets March 31, 2024 June 30, 2023 Intellectual Property $ 2,293,770 $ 2,293,770 Less Accumulated Amortization (1,828,708 ) (1,656,675 ) Intellectual Property, Net $ 465,062 $ 637,095
Schedule of future amortization expense	Schedule of future amortization expense Year ending June 30, 2024 (Remaining 3 months) $ 57,344 2025 229,377 2026 178,341 $ 465,062

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of note payable	Schedule of note payable March 31, 2024 June 30, 2023 Current portion of Notes Payable $ 7,500,000 $ 10,000,000 Less debt financing costs (28,369 ) (108,751 ) Less unearned discount (266,908 ) (1,023,145 ) Plus accretion of loan premium 788,181 236,970 Current portion of Notes Payable, net of financing costs, unearned premiums and discount $ 7,992,904 $ 9,105,074 Non-current portion of Notes Payable March 31, 2024 June 30, 2023 Notes Payable $ - $ 5,000,000 Less debt financing costs - (11,820 ) Less unearned discount - (111,212 ) Plus accretion of loan premium - 350,302 Notes Payable, net of the current portion financing costs, unearned premiums and discount $ - $ 5,227,270
Schedule of estimated future amortization expense and accretion of premium	Schedule of estimated future amortization expense and accretion of premium Unearned Discount Debt Financing Costs Loan accretion Premium Year ending June 30, 2024 (Remaining 3 months) $ 155,696 $ 16,549 $ 36,061 2025 111,212 11,820 25,758 Total $ 266,908 $ 28,369 $ 61,819

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of derivative liabilities at fair value	Schedule of derivative liabilities at fair value Fair Value Measurements at March 31, 2024 Level 1 Level 2 Level 3 Total Derivative liability - Warrants $ - $ - $ 20,703 $ 20,703 Derivative liability - Conversion option on note payable - - - - Total derivatives $ - $ - $ 20,703 $ 20,703 Fair Value Measurements at June 30, 2023 Level 1 Level 2 Level 3 Total Derivative liability - Warrants $ - $ - $ 894,280 $ 894,280 Derivative liability - Conversion option on note payable - - 925,762 925,762 Total derivatives $ - $ - $ 1,820,042 $ 1,820,042
Fair value, liabilities measured on recurring basis	Fair value, liabilities measured on recurring basis Derivative liabilities - Derivative liability - Balance at June 30, 2023 $ 894,280 $ 925,762 Additions to level 3 liabilities - - Change in in fair value of level 3 liabilities (873,577 ) (925,762 ) Transfer in and/or out of Level 3 - - Balance at March 31, 2024 $ 20,703 $ - The following table presents the activity for liabilities measured at fair value using unobservable inputs for the nine months ended March 31, 2023: Derivative liabilities - Derivative liability - Balance at June 30, 2022 $ 194,531 $ 188,030 Additions to level 3 liabilities - - Change in in fair value of level 3 liabilities 1,762,250 2,392,395 Transfer in and/or out of Level 3 - - Balance at March 31, 2023 $ 1,956,781 $ 2,580,425
Measured at fair value on a recurring basis	Measured at fair value on a recurring basis Fair Value Measurements at March 31, 2024 Level 1 Level 2 Level 3 Total Cash $ 11,279,241 $ - $ - $ 11,279,241 U.S. Treasury Bills due in 3 months or less at purchase 19,071,096 - - 19,071,096 Total $ 30,350,337 $ - $ - $ 30,350,337 Fair Value Measurements at June 30, 2023 Level 1 Level 2 Level 3 Total Cash $ 6,304,543 $ - $ - $ 6,304,543 U.S. Treasury Bills due in 3 months or less at purchase 13,156,340 - - 13,156,340 U.S. Treasury Bills due in 3 - 6 months at purchase 14,477,726 - - 14,477,726 Total $ 33,938,609 $ - $ - $ 33,938,609

Equity Transactions (Tables)

Equity Transactions (Tables)	9 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of summarizes the activity relating to the Company’s stock options	Schedule of summarizes the activity relating to the Company’s stock options Options Weighted-Average Weighted Remaining Aggregate Intrinsic Outstanding at June 30, 2023 3,952,864 $ 7.10 6.3 $ 1,067,966 Granted 394,417 3.22 6.1 - Options Expired (6,400 ) 4.61 - - Options Canceled (318,123 ) 5.72 - - Outstanding at March 31, 2024 4,022,758 $ 6.83 5.3 $ - Exercisable at March 31, 2024 2,211,392 $ 8.15 4.3 $ -
Schedule of assumptions used	Schedule of assumptions used March 31, 2024 June 30, 2023 Expected life of options (in years) 5 6 Expected volatility 87.11 % 81.65 % Risk free interest rate 4.80 % 3.82 % Dividend Yield 0 % 0 %
Schedule of vesting of restricted common stock	Schedule of vesting of restricted common stock Number of Shares Weighted Average Grant Unvested at June 30, 2023 596,457 $ 5.24 Issued 182,696 3.01 Vested (228,930 ) 5.50 Canceled (10,303 ) 6.12 Unvested at March 31, 2024 539,920 $ 4.59
Summary of warrants activity	Summary of warrants activity Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (Years) Aggregate Intrinsic Value Outstanding and exercisable at June 30, 2023 7,770,285 $ 2.06 4.0 $ 18,318,954 Granted 11,550,000 1.48 5.0 - Outstanding and exercisable at March 31, 2024 19,320,285 $ 1.40 4.3 $ -

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 31, 2024
Leases
Schedule of deferred tax assets	Schedule of deferred tax assets March 31, 2024 June 30, 2023 Assets Operating lease right-of-use asset, net $ 422,169 $ 80,789 Liabilities Current portion of operating lease liabilities $ 57,143 $ 44,909 Operating lease liabilities, net of current portion 366,430 42,505 Total operating lease liabilities $ 423,573 $ 87,414
Schedule of future estimated minimum lease payments under non-cancelable operating leases	Schedule of future estimated minimum lease payments under non-cancelable operating leases Year ending June 30, 2024 (Remaining 3 months) $ 29,055 2025 117,915 2026 122,042 2027 126,313 2028 130,734 2029 77,796 Total minimum lease payments 603,855 Less amount representing interest (180,282 ) Present value of future minimum lease payments 423,573 Less current portion of operating lease liabilities (57,143 ) Operating lease liabilities, net of current portion $ 366,430
Schedule of weighted average remaining lease term and discount rate	Schedule of weighted average remaining lease term and discount rate March 31, 2024 June 30, 2023 Weighted average remaining lease term (Years) Operating leases 4.8 1.8 Weighted average discount rate Operating leases 15.00 % 10.75 %

Liquidity (Details Narrative)

Liquidity (Details Narrative)	Mar. 31, 2024 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital	$ 18,100,000
Cash and cash equivalent	30,400,000
Stockholders' equity	18,900,000
Accumulated deficit	$ 329,300,000

Significant Accounting Polici_4

Significant Accounting Policies (Details) - shares	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	23,882,963	11,746,831
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,022,758	3,448,997
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	19,320,285	7,770,285
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	539,920	527,549

Significant Accounting Polici_5

Significant Accounting Policies (Details Narrative) - $ / shares	Mar. 31, 2024	Mar. 06, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001

Investments in U.S. Treasury _3

Investments in U.S. Treasury Bills Available for Sale (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Schedule of Investments [Line Items]
Total Accumulated Other Comprehensive Income		$ 176,591
US Treasury Bill Securities [Member]
Schedule of Investments [Line Items]
Amortized Cost Basis		14,301,136
Gross Unrealized Gain		176,591
Fair Value		14,477,726
Total Accumulated Other Comprehensive Income		$ 176,591

Investments in U.S. Treasury _4

Investments in U.S. Treasury Bills Available for Sale (Details Narrative) - USD ($)	9 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Investments In U.s. Treasury Bills Available For Sale
Number of stock purchased			$ 46,000,000
Realized gain on maturity of available-for sale	$ 223,865

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intellectual Property	$ 2,293,770	$ 2,293,770
Less Accumulated Amortization	(1,828,708)	(1,656,675)
Intellectual Property, Net	$ 465,062	$ 637,095

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Year ending June 30, 2024 (Remaining 3 months)	$ 57,344
2025	229,377
2026	178,341
Finite lived intangible assets, net	$ 465,062	$ 637,095

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	$ 57,344	$ 57,344	$ 172,033	$ 172,033
Useful life	10 years		10 years

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 06, 2024	Jun. 30, 2023	Jul. 15, 2022
Related Party Transaction [Line Items]
Common stock, shares issued	61,018,606		36,451,829
Deemed dividend	$ 886,423
Stock price		$ 1
Warrants [Member]
Related Party Transaction [Line Items]
Stock price	$ 1.07
Remaining term	3 years 4 months 24 days
Risk free rate	4.40%
Volatility	95%
Warrants [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Exercise price	$ 1.82
Warrants [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Exercise price	$ 1
Acuitas Group Holdings, LLC [Member]
Related Party Transaction [Line Items]
Common stock, shares issued				3,636,364

Other Liabilities (Details Narr

Other Liabilities (Details Narrative)	Mar. 31, 2024 USD ($)
Other Liabilities Disclosure [Abstract]
Other liabilities	$ 48,000

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
Current portion of Notes Payable	$ 7,500,000	$ 10,000,000
Less debt financing costs	(28,369)	(108,751)
Less unearned discount	(266,908)	(1,023,145)
Plus accretion of loan premium	788,181	236,970
Current portion of Notes Payable, net of financing costs, unearned premiums and discount	7,992,904	9,105,074
Notes Payable		5,000,000
Less debt financing costs		(11,820)
Less unearned discount		(111,212)
Plus accretion of loan premium		350,302
Notes Payable, net of the current portion financing costs, unearned premiums and discount		$ 5,227,270

Notes Payable (Details 1)

Notes Payable (Details 1)	Mar. 31, 2024 USD ($)
Unearned Discount [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Year ending June 30, 2024 (Remaining 3 months)	$ 155,696
2025	111,212
Total	266,908
Financing Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Year ending June 30, 2024 (Remaining 3 months)	16,549
2025	11,820
Total	28,369
Loan Accretion Premium [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Year ending June 30, 2024 (Remaining 3 months)	36,061
2025	25,758
Total	$ 61,819

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Interest rate			8.50%
Fair value of warrants			$ 1,400,000
Fair value of embedded conversion option			2,200,000
Unearned discount	$ 222,000	$ 400,000	867,000	$ 1,200,000	$ 3,600,000
Direct financing cost			390,000
Unamortized premium recognized	850,000		850,000
Interest expense	629,000	1,100,000	2,500,000	3,200,000
Interest payment	327,000	547,000	1,300,000	1,500,000
Amortization of financing costs	24,000	43,000	92,000	128,000
Accretion of loan premium	$ 52,000	$ 93,000	$ 201,000	$ 329,000,000
Prime Rate [Member]
Debt Instrument [Line Items]
Interest rate			7%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives	$ 20,703	$ 1,820,042
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives	20,703	1,820,042
Derivative liability - Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives	20,703	894,280
Derivative liability - Warrants [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Derivative liability - Warrants [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Derivative liability - Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives	20,703	894,280	$ 1,956,781	$ 194,531
Derivative liability - Conversion option on note payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives		925,762
Derivative liability - Conversion option on note payable [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Derivative liability - Conversion option on note payable [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives
Derivative liability - Conversion option on note payable [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total derivatives		$ 925,762

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning	$ 1,820,042
Balance at ending	20,703
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning	1,820,042
Balance at ending	20,703
Derivative liability - Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning	894,280
Balance at ending	20,703
Derivative liability - Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning	894,280	$ 194,531
Additions to level 3 liabilities
Change in in fair value of level 3 liability	(873,577)	1,762,250
Transfer in and/or out of Level 3
Balance at ending	20,703	1,956,781
Derivative liability - Conversion Option on Convertible Debenture [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance at beginning	925,762	188,030
Additions to level 3 liabilities
Change in in fair value of level 3 liability	(925,762)	2,392,395
Transfer in and/or out of Level 3
Balance at ending		$ 2,580,425

Fair Value Measurements (Deta_3

Fair Value Measurements (Details 2) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 30,350,337	$ 33,938,609
US Treasury Bill Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	19,071,096	13,156,340
U.S. Treasury Bills due in 3 months or less at purchase [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		14,477,726
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	30,350,337	33,938,609
Fair Value, Inputs, Level 1 [Member] | US Treasury Bill Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	19,071,096	13,156,340
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Bills due in 3 months or less at purchase [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		14,477,726
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Fair Value, Inputs, Level 2 [Member] | US Treasury Bill Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Fair Value, Inputs, Level 2 [Member] | U.S. Treasury Bills due in 3 months or less at purchase [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Fair Value, Inputs, Level 3 [Member] | US Treasury Bill Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Fair Value, Inputs, Level 3 [Member] | U.S. Treasury Bills due in 3 months or less at purchase [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Cash [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	11,279,241	6,304,543
Cash [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	11,279,241	6,304,543
Cash [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total
Cash [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total

Fair Value Measurements (Deta_4

Fair Value Measurements (Details Narrative) - $ / shares	9 Months Ended
	Mar. 31, 2024	Mar. 06, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share Price		$ 1
Derivative liability - Warrants [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share Price	$ 0.53
Exercise Price	$ 5.82
Term	2 years 8 months 12 days
Risk Free Interest Rate	4.50%
Volatility Rate	93%
Derivative liability - Conversion Option on Convertible Debenture [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share Price	$ 6.98
Term	8 months 1 day
Risk Free Interest Rate	5.30%
Volatility Rate	104%

Equity Transactions (Details)

Equity Transactions (Details) - Stock Options [Member]	9 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Offsetting Assets [Line Items]
Options outstanding at beginning | shares	3,952,864
Weighted average exercise price, Options outstanding at beginning | $ / shares	$ 7.10
Weighted remaining average contractual term, beginning	6 years 3 months 18 days
Aggregate intrinsic value, outstanding at beginning of period | $	$ 1,067,966
Options granted | shares	394,417
Weighted average exercise price, granted | $ / shares	$ 3.22
Weighted remaining average contractual term, granted	6 years 1 month 6 days
Options expired | shares	(6,400)
Weighted average exercise price, expired | $ / shares	$ 4.61
Options canceled | shares	(318,123)
Weighted average exercise price, canceled | $ / shares	$ 5.72
Options outstanding at ending | shares	4,022,758
Weighted average exercise price, options outstanding at ending | $ / shares	$ 6.83
Weighted remaining average contractual term, ending	5 years 3 months 18 days
Aggregate intrinsic value, outstanding at ending of period | $
Options exercisable | shares	2,211,392
Weighted average exercise price, options exercisable | $ / shares	$ 8.15
Weighted average remaining contractual term, options exercisable	4 years 3 months 18 days

Equity Transactions (Details 1)

Equity Transactions (Details 1) - Stock Options [Member]	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Offsetting Assets [Line Items]
Expected life of options (In years)	5 years	6 years
Expected volatility	87.11%	81.65%
Risk free interest rate	4.80%	3.82%
Dividend yield	0%	0%

Equity Transactions (Details 2)

Equity Transactions (Details 2)	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Equity [Abstract]
Number of shares unvested at beginning | shares	596,457
Weighted average grant date fair value per share unvested at beginning | $ / shares	$ 5.24
Number of shares, Issued | shares	182,696
Weighted average grant date fair value per share, Issued | $ / shares	$ 3.01
Number of shares, Vested | shares	(228,930)
Weighted average grant date fair value per share, Vested | $ / shares	$ 5.50
Number of shares, Canceled | shares	(10,303)
Weighted average grant date fair value per share, Canceled | $ / shares	$ 6.12
Number of shares unvested at ending | shares	539,920
Weighted average grant date fair value per share unvested at ending | $ / shares	$ 4.59

Equity Transactions (Details 3)

Equity Transactions (Details 3) - Warrant [Member] - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares, beginning	7,770,285
Weighted average exercise price, beginning	$ 2.06
Weighted average remaining life (Years)	4 years 3 months 18 days	4 years
Aggregate intrinsic value, outstanding at beginning of period	$ 18,318,954
Number of shares, granted	11,550,000
Weighted average exercise price, granted	$ 1.48
Weighted average remaining life (Years), granted	5 years
Number of shares, ending	19,320,285	7,770,285
Weighted average exercise price, ending	$ 1.40	$ 2.06
Aggregate intrinsic value, outstanding at ending of period		$ 18,318,954

Equity Transactions (Details Na

Equity Transactions (Details Narrative) - USD ($)				1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 06, 2024	Nov. 09, 2023	Oct. 03, 2023	Nov. 23, 2022	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Feb. 09, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Public offering	15,000,000
Common stock, par value	$ 0.0001				$ 0.0001		$ 0.0001			$ 0.0001
Share price	$ 1
Stock-based compensation expense							$ 2,118,649	$ 3,480,425
Total compensation cost				$ 1,744,192
Stock based compensation - restricted stock units					$ 336,376	$ 17,537	1,020,383	1,589,526
Stock based compensation - restricted stock units							1,020,383	1,589,527
Stock Options [Member]
Class of Stock [Line Items]
Stock-based compensation expense					690,921	$ 888,998	$ 2,118,649	$ 3,480,425
Weighted average exercise price, options grants							$ 3.22
Equity Option [Member] | New Employee [Member]
Class of Stock [Line Items]
Stock option to purchase			211,167
Weighted average contractual term, granted (in years)			48 months
Weighted average exercise price, options grants			$ 3.41
Equity Option [Member] | New Employee [Member] | Minimum [Member]
Class of Stock [Line Items]
Awarded Vested rights, percentage			20%
Equity Option [Member] | New Employee [Member] | Maximum [Member]
Class of Stock [Line Items]
Awarded Vested rights, percentage			80%
Prefunded Warrants [Member]
Class of Stock [Line Items]
Stock option to purchase	6,000,000
Common Warrant [Member]
Class of Stock [Line Items]
Stock option to purchase	10,500,000
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Restricted stock units, vested									45,675
Shares issued over the vesting period				101,833
Shares for tax withholdings				25,880
Restricted Stock Units (RSUs) [Member] | Four Directors [Member]
Class of Stock [Line Items]
Stock-based compensation expense				$ 952,492	215,383		$ 137,479
Restricted Stock Units (RSUs) [Member] | Three Directors [Member]
Class of Stock [Line Items]
Stock-based compensation expense				$ 791,700
Restricted Stock Units (RSUs) [Member] | Two Directors [Member]
Class of Stock [Line Items]
Stock-based compensation expense					$ 83,837		$ 118,303
Restricted Stock Units (RSUs) [Member] | N2019 Omnibus Incentive Equity Plan [Member] | Four Directors [Member]
Class of Stock [Line Items]
Rsu granted		182,696		155,636
Rsu granted, grant date fair value		$ 3.01		$ 6.12
Restricted Stock Units (RSUs) [Member] | N2019 Omnibus Incentive Equity Plan [Member] | Three Directors [Member]
Class of Stock [Line Items]
Rsu granted				195,000
Rsu granted, grant date fair value				$ 6.12
Restricted Stock Units (RSUs) [Member] | N2019 Omnibus Incentive Equity Plan [Member] | Two Directors [Member]
Class of Stock [Line Items]
Rsu granted		183,250
Rsu granted, grant date fair value		$ 3.01
Common Class A [Member] | Sales Agreement [Member]
Class of Stock [Line Items]
Issuance of common stock for cash, shares					4,384	1,515,078	3,337,487	7,372,691
Issuance of common stock for cash					$ 6,500	$ 9,800,000	$ 9,300,000	$ 48,200,000
Commissions percentage					3%	3%	3%	3%
Issuance costs					$ 201	$ 339,000	$ 377,000	$ 1,900,000

Leases (Details)

Leases (Details) - USD ($)	Mar. 31, 2024	Feb. 12, 2024	Jun. 30, 2023
Leases
Operating lease right-of-use asset, net	$ 422,169	$ 56,909	$ 80,789
Current portion of operating lease liabilities	57,143		44,909
Operating lease liabilities, net of current portion	366,430		42,505
Total operating lease liabilities	$ 423,573	$ 62,124	$ 87,414

Leases (Details 1)

Leases (Details 1) - USD ($)	Mar. 31, 2024	Feb. 12, 2024	Jun. 30, 2023
Leases
Year ending June 30, 2024 (Remaining 3 months)	$ 29,055
2025	117,915
2026	122,042
2027	126,313
2028	130,734
2029	77,796
Total minimum lease payments	603,855
Less amount representing interest	(180,282)
Present value of future minimum lease payments	423,573	$ 62,124	$ 87,414
Less current portion of operating lease liabilities	(57,143)		(44,909)
Operating lease liabilities, net of current portion	$ 366,430		$ 42,505

Leases (Details 2)

Leases (Details 2)	Mar. 31, 2024	Jun. 30, 2023
Leases
Weighted average remaining lease term (Years) Operating leases	4 years 9 months 18 days	1 year 9 months 18 days
Weighted average discount rate Operating leases	15%	10.75%

Leases (Details Narrative)

Leases (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Feb. 12, 2024	Jun. 30, 2023
Leases
Right-of-use Asset	$ 422,169		$ 422,169		$ 56,909	$ 80,789
Operating Lease Liability	423,573		423,573		$ 62,124	$ 87,414
Selling, general and administrative expenses	5,215
Operating lease cost	20,000	$ 13,000	46,000	$ 37,000
Cash paid for amounts included in measurement of operating lease liabilities	$ 23,670	$ 12,650	$ 49,470	$ 37,700

Employee Benefit Plan (Details

Employee Benefit Plan (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Employee Benefit Plan
Defined benefit plan, plan assets, contributions by employer	$ 53,915	$ 16,000	$ 105,000	$ 80,100