The Glimpse Group, Inc. (VRAR) 10-Q 15 Nov 21 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--06-30
Entity File Number	001-40556
Entity Registrant Name	THE GLIMPSE GROUP, INC.
Entity Central Index Key	0001854445
Entity Tax Identification Number	81-2958271
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	15 West 38th St., 9th Fl
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	(917)
Local Phone Number	292-2685
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	VRAR
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	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,045,274

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Jun. 30, 2021
ASSETS
Cash and cash equivalents	$ 12,567,632	$ 1,771,929
Accounts receivable	599,879	626,244
Deferred costs	45,981	29,512
Pre-offering costs		470,136
Prepaid expenses and other current assets	533,782	281,047
Total current assets	13,747,274	3,178,868
Other assets	80,000
Equipment, net	53,513	42,172
Intangible assets, net	479,167
Goodwill	250,000
Total assets	14,609,954	3,221,040
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Accounts payable	112,687	381,510
Accrued liabilities	136,975	168,745
Accrued bonuses	288,388	440,357
Accrued legacy acquisition expense	500,000	1,250,000
Deferred revenue	114,055	98,425
Total current liabilities	1,152,105	2,339,037
Long term liabilities
Paycheck Protection Program (PPP 2) loan	623,828	623,828
Convertible promissory notes, net		1,429,953
Total liabilities	1,775,933	4,392,818
Stockholders’ Equity (Deficit)
Preferred Stock, par value $0.001 per share, 20 million shares authorized; 0 shares issued and outstanding
Common Stock, par value $0.001 per share, 300 million shares authorized; 10,291,638 and 7,579,285 issued and outstanding	10,292	7,580
Additional paid-in capital	36,595,898	20,936,050
Accumulated deficit	(23,772,169)	(22,115,408)
Total stockholders’ equity (deficit)	12,834,021	(1,171,778)
Total liabilities and stockholders’ equity (deficit)	$ 14,609,954	$ 3,221,040

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Jun. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	10,291,638	7,579,285
Common stock, shares outstanding	10,291,638	7,579,285

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenue
Total Revenue	$ 1,022,533	$ 259,927
Cost of goods sold	145,387	137,124
Gross Profit	877,146	122,803
Operating expenses:
Research and development expenses	989,384	736,750
General and administrative expenses	779,729	335,998
Sales and marketing expenses	504,687	289,476
Total operating expenses	2,273,800	1,362,224
Net loss from operations before other income (expense)	(1,396,654)	(1,239,421)
Other income (expense)
Other income		10,000
Interest income	19,623	534
Interest expense		(48,437)
Loss on conversion of convertible notes	(279,730)
Total other expense, net	(260,107)	(37,903)
Net Loss	$ (1,656,761)	$ (1,277,324)
Basic and diluted net loss per share	$ (0.17)	$ (0.18)
Weighted-average shares used to compute basic and diluted net loss per share	9,967,821	7,039,928
Software Sercices [Member]
Revenue
Total Revenue	$ 804,718	$ 187,652
Software License [Member]
Revenue
Total Revenue	$ 217,815	$ 72,275

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2020	$ 7,036	$ 15,710,996	$ (16,023,721)	$ (305,689)
Beginning balance, shares at Jun. 30, 2020	7,035,771
Sales of common stock to investors	$ 2	10,818		10,820
Sales of common stock to investors, shares	2,423
Common stock issued to vendors for compensation	$ 7	29,993		$ 30,000
Common stock issued to vendors for compensation,shares	6,667
Common stock issued for exercise of options, shares
Stock option-based compensation expense		772,635		$ 772,635
Stock option-based board of directors expense		41,532		41,532
Net loss			(1,277,324)	(1,277,324)
Ending balance, value at Sep. 30, 2020	$ 7,045	16,565,974	(17,301,045)	(728,026)
Ending balance, shares at Sep. 30, 2020	7,044,861
Beginning balance, value at Jun. 30, 2021	$ 7,580	20,936,050	(22,115,408)	(1,171,778)
Beginning balance, shares at Jun. 30, 2021	7,579,285
Common stock issued in Initial Public Offering, net	$ 1,913	11,819,451		11,821,364
Common stock issued in Initial Public Offering net, shares	1,912,500
Common stock issued for convertible note conversion	$ 324	1,605,852		1,606,176
Common stock issued for convertible note conversion, shares	324,150
Common stock issued for acquisition	$ 77	749,923		750,000
Common stock issued for acquisition, shares	77,264
Common stock issued for legacy acquisition obligation	$ 375	749,625		750,000
Common stock issued for legacy acquisition obligation, shares	375,000
Common stock issued to vendors for compensation	$ 6	65,389		65,395
Common stock issued to vendors for compensation,shares	6,045
Common stock issued for exercise of options	$ 17	45,683		$ 45,700
Common stock issued for exercise of options, shares	17,394			392,394
Stock option-based compensation expense		536,524		$ 536,524
Stock option-based board of directors expense		87,401		87,401
Net loss			(1,656,761)	(1,656,761)
Ending balance, value at Sep. 30, 2021	$ 10,292	$ 36,595,898	$ (23,772,169)	$ 12,834,021
Ending balance, shares at Sep. 30, 2021	10,291,638

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (1,656,761)	$ (1,277,324)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	27,718	5,907
Amortization of paid-in kind common stock interest on convertible notes		54,039
Stock option based compensation for employees and board of directors	653,615	689,813
Issuance of common stock to vendors as compensation	62,034	15,000
Loss on conversion of convertible notes	279,730
Changes in operating assets and liabilities:
Accounts receivable	26,365	135,460
Pre-offering costs	470,136
Prepaid expenses and other current assets	(381,856)	(81,909)
Deferred costs	17,185	124,155
Other assets	(80,000)
Accounts payable	(268,823)	(52,343)
Accrued liabilities	(31,770)	(18,680)
Accrued bonus	(151,969)	(6,000)
Deferred revenue	15,630	499,650
Net cash used in operating activities	(1,053,136)	(160,542)
Cash flow from investing activities:
Purchases of equipment	(18,225)	(15,004)
Net cash used in investing activities	(18,225)	(15,004)
Cash flows from financing activities:
Proceeds from initial public offering, net	11,821,364
Proceeds from issuance of common equity to investors		10,820
Proceeds from exercise of stock options	45,700
Net cash provided by financing activities	11,867,064	10,820
Net change in cash and cash equivalents	10,795,703	(164,726)
Cash and cash equivalents, beginning of year	1,771,929	1,034,846
Cash and cash equivalents, end of period	12,567,632	870,120
Non-cash Investing and Financing activities:
Common stock issued for asset acquisition	750,000
Conversion of convertible promissory notes into common stock	1,606,176
Issuance of warrants in connection with initial public offering	522,360
Issuance of common stock for satisfaction of legacy acquisition liability	$ 750,000

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	3 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1. DESCRIPTION OF BUSINESS The Glimpse Group, Inc. (“Glimpse”) is a Virtual (VR) and Augmented (AR) Reality company, comprised of a diversified portfolio of VR and AR software and services companies. Glimpse’s ten wholly-owned operating subsidiaries (“Subsidiary Companies” or “Subsidiaries”) are: Adept Reality, LLC (dba Adept XR Learning), Kabaq 3D Technologies, LLC (dba QReal), KreatAR, LLC (dba PostReality), D6 VR, LLC, Immersive Health Group, LLC, Foretell Studios, LLC (dba Foretell Reality), Number 9, LLC (dba Pagoni VR), Early Adopter, LLC, and MotionZone, LLC (dba AUGGD) and one subsidiary in Turkey, Glimpse Group Yazılım ve ARGE Ticaret Anonim Şirketi (“Glimpse Turkey”). In addition, the Company has one inactive subsidiary company, In-It VR, LLC (dba Mezmos), and with the operating Subsidiaries collectively comprise the “Company” or “Glimpse”. Glimpse was incorporated as The Glimpse Group, Inc. in the State of Nevada, on June 15, 2016. A new subsidiary company was established in October 2021. See Note 11. Glimpse’s robust VR/AR ecosystem, collaborative environment and business model simplify the many challenges faced by companies in an emerging industry. Glimpse cultivates and manages business operations while providing a strong network of professional relationships, thereby allowing the subsidiary company entrepreneurs to maximize their time and resources in pursuit of mission-critical endeavors, reducing time to market, optimizing costs, improving product quality and leveraging joint go-to-market strategies, while simultaneously providing investors an opportunity to invest directly into the VR/AR industry via a diversified platform. The Company completed an initial public offering (“IPO”) of its common stock on the Nasdaq Capital Market Exchange (“Nasdaq”) on July 1, 2021, under the ticker VRAR. See Note 7. On November 2, 2021 the Company completed a securities purchase agreement (“SPA”) for the sale of additional common stock to certain institutional investors. See Note 11.

LIQUIDITY AND CAPITAL RESOURCES

LIQUIDITY AND CAPITAL RESOURCES	3 Months Ended
	Sep. 30, 2021
Liquidity And Capital Resources
LIQUIDITY AND CAPITAL RESOURCES	NOTE 2. LIQUIDITY AND CAPITAL RESOURCES The Company incurred a loss of $ 1.66 1.28 On July 1, 2021 the Company completed an IPO in which, as a result of the sale of its common shares at $ 7.00 13.4 11.8 13.6 The Company expects to continue to generate net losses for the foreseeable future as it makes investments to grow its business. Management believes that the Company’s existing balances of cash and cash equivalents, which are approximately $ 26 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2021 and the results of operations and cash flows for the three months ended September 30, 2021 and 2020. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended September 30, 2021 are not necessarily indicative of the results to be expected for the entire year ending June 30, 2022 or for any subsequent periods. The consolidated balance sheet at June 30, 2021 has been derived from the audited consolidated financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended June 30, 2021. Principles of Consolidation The accompanying consolidated financial statements include the balances of Glimpse and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Use of Accounting Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the accompanying consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The principal estimates relate to the valuation of allowance for doubtful accounts, common stock, stock options, cost of goods sold and allocation of the purchase price of assets relating to business combinations. Cash and Cash Equivalents Cash and cash equivalents consist of cash and deposits in bank checking accounts with immediate access and cash equivalents that represent highly liquid investments. Accounts Receivable Accounts receivable consists primarily of amounts due from customers under normal trade terms. Allowances for uncollectible accounts are provided for based upon a variety of factors, including historical amounts written-off, an evaluation of current economic conditions, and assessment of customer collectability. As of September 30, 2021 and June 30, 2021 no THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Customer Concentration and Credit Risk Two customers accounted for approximately 70 56 14 53 19 13 11 10 One customer accounted for approximately 76 71 57 14 The Company maintains cash in accounts that, at times, may be in excess of the Federal Deposit Insurance Corporation limit. The Company has not experienced any losses on such accounts. Equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. The costs of improvements and betterments are capitalized and expenditures for repairs and maintenance are expensed in the period incurred. The Company assesses the recoverability of equipment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. There was no impairment of equipment for the periods presented. Business Combinations The results of a business acquired in a business combination are included in the Company’s consolidated financial statements from the date of the acquisition. Purchase accounting results in assets and liabilities of an acquired business generally being recorded at their estimated fair values as of the acquisition date. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. The Company performs valuations of assets acquired and liabilities assumed and allocates the purchase price to its respective assets and liabilities. Determining the fair value of assets acquired and liabilities assumed may require management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenues, costs and cash flows. Intangibles, net Intangibles represent the allocation of a portion of an asset acquisition purchase price (see Note 4). Intangibles are stated at allocated cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the related assets. Goodwill The Company reviews goodwill for impairment annually or more frequently if current circumstances or events indicate that the fair value may be less than its carrying value. The Company recorded goodwill related to an asset acquisition, see Note 4. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, such as accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. The Company’s convertible debt approximates fair value due to its short-term nature and market rate of interest. Revenue Recognition Nature of Revenues The Company reports its revenues in two categories: ● Software Services: Virtual and Augmented Reality projects, solutions and consulting services. ● Software License and Software-as-a-Service (“SaaS”): Virtual and Augmented Reality software that is sold either as a license or as a SaaS subscription. The Company applies the following steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: ● identify the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; ● recognize revenue as the performance obligation is satisfied; ● determine that collection is reasonably assured. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product or service is performed and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Any unrecognized portion of revenue and any corresponding unrecognized expenses are presented as deferred revenue and deferred costs, respectively, in the accompanying consolidated balance sheet. Deferred costs include cash and equity based payroll costs, and may include payments to vendors. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or providing services. As such, revenue is recorded net of returns, allowances, customer discounts, and incentives. Sales taxes and other taxes are excluded from revenues. Significant Judgments The Company’s contracts with customers may include promises to transfer multiple products/services. Determining whether products/services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Further, judgment may be required to determine the standalone selling price for each distinct performance obligation. Disaggregation of Revenue The Company generated revenue for the three months ended September 30, 2021 and 2020 by delivering: (i) Software Services, consisting primarily of VR/AR software projects, solutions and consulting services, and (ii) Software Licenses & SaaS, consisting primarily of VR and AR software licenses or SaaS. The Company currently generates its revenues primarily from customers in the United States. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Revenue for Software Services projects and solutions is recognized at the point of time in which the customer obtains control of the project, customer accepts delivery and confirms completion of the project. Revenue for Software Services consulting services and website maintenance is recognized at the point of time in which the Company performs the services, typically on a monthly retainer basis. Revenue for Software License and SaaS is recognized at the point of time in which the Company delivers the software and customer accepts delivery. If there are contractually stated ongoing service obligations to be performed during the term of the Software License or SaaS contract, then revenues are recognized ratably over the term of the contract. Timing of Revenue The timing of revenue recognition for the three months ended September 30, 2021 and 2020 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2021 2020 For the Three Months Ended September 30, 2021 2020 Products transferred at a point in time $ 955,751 $ 193,175 Products and services transferred over time 66,782 66,752 Total Revenue $ 1,022,533 $ 259,927 Remaining Performance Obligations Timing of revenue recognition may differ from the timing of invoicing to customers. The Company records a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. For Software Services project contracts, the Company generally invoices customers after the project has been delivered and accepted by the customer. Software Service project contracts typically consist of designing and programming software for the customer. In most cases, there is only one performance obligation, and revenue is recognized upon completion, delivery and customer acceptance. In certain instances one contract may include multiple distinct projects that can each be implemented and operated independently of subsequent projects in the contract. In such cases, the Company accounts for these distinct projects as separate performance obligations and recognizes revenue upon the completion of each project or obligation, its delivery and customer acceptance. For Software Services consulting or retainer contracts, the Company generally invoices customers monthly at the beginning of each month in advance for services to be performed in the following month. The sole performance obligation is satisfied when the services are performed. Software Services consulting or retainer contracts typically consist of ongoing support for a customer’s software or specified business practices. For Software License or SaaS contracts, the Company generally invoices customers when the software has been delivered to and accepted by the customer, which is also when the performance obligation is satisfied. For multi-period Software License or SaaS contracts, the Company generally invoices customers annually at the beginning of each annual coverage period. Software License or SaaS contracts consist of providing clients with software designed by the Company. For Software License or SaaS contracts, there are generally no ongoing support obligations unless specified in the contract (becoming a Software Service). THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Deferred revenue is comprised mainly of software project contract performance obligations not completed. Unfulfilled performance obligations represent amounts expected to be earned by the Company on executed contracts. As of September 30, 2021, the Company had approximately $ 1.20 Employee Stock-Based Compensation The Company recognizes stock-based compensation expense related to grants to employees or service providers based on grant date fair values of common stock or the stock options, which are amortized over the requisite period, as well as forfeitures as they occur. The Company values the options using the Black-Scholes Merton (“Black Scholes”) method utilizing various inputs such as expected term, expected volatility and the risk-free rate. The expected term reflects the application of the simplified method, which is the weighted average of the contractual term of the grant and the vesting period for each tranche. Expected volatility is derived from a weighted average of volatility inputs for the Company since its IPO. Prior to its IPO, expected volatility is derived from a weighted average of volatility inputs for comparable software and technology service companies The risk-free rate is based on the implied yield of U.S. Treasury notes as of the grant date with a remaining term approximately equal to the expected life of the award. Research and Development Costs Research and development expenses are expensed as incurred, and include payroll, employee benefits and stock-based compensation expense. Research and development expenses also include third-party development and programming costs. Given the emerging industry and uncertain market environment the Company operates in, research and development costs are not capitalized. Income Taxes The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be recovered based on an evaluation of objective verifiable evidence. For tax positions that are more likely than not of being sustained upon audit, the Company recognizes the largest amount of the benefit that is greater than 50% The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740, Income Taxes THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no amounts accrued for penalties or interest for the three months ended September 30, 2021 and 2020. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position. Earnings Per Share Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential shares of common stock outstanding during the period using the treasury stock method. Dilutive potential common shares include the issuance of potential shares of common stock for outstanding stock options and convertible debt. Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the Company’s financial statements.

ASSET ACQUISTION

ASSET ACQUISTION	3 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
ASSET ACQUISTION	NOTE 4. ASSET ACQUISTION In August 2021, the Company, through its wholly owned subsidiary company, MotionZone, LLC (dba AUGGD), completed an acquisition of certain assets, as defined, from Augmented Reality Investments Pty Ltd, an Australia based company providing augmented reality software and services. Over time, the acquisition may facilitate the Company’s endeavors in the Architecture, Engineering and Construction (“AEC”) market segments. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Initial consideration for the purchase was $ 0.75 77,264 SCHEDULE OF ASSET ACQUISITION As of September 30, 2021 Value ($) Useful Life Intangible Assets Customer Relationships $ 250,000 3 Technology 250,000 3 Less: Accumulated Amortization (20,833 ) Intangible Assets, net $ 479,167 Goodwill $ 250,000 N/A The goodwill recognized in connection with the acquisition is primarily attributable to new markets access and is expected to be deductible for tax purposes. The results of operations of AUGGD have been included in the Company’s consolidated financial statements from the date of acquisition and did not have a material impact on the Company’s consolidated financial statements.

CONTINGENT ACQUISITION LIABILIT

CONTINGENT ACQUISITION LIABILITY	3 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
CONTINGENT ACQUISITION LIABILITY	NOTE 5. CONTINGENT ACQUISITION LIABILITY Kabaq 3D Technologies, LLC The Company’s November 2016 acquisition of assets relating to the acquisition of Kabaq 3D Technologies, LLC contained a provision for additional acquisition consideration triggered by a potential listing of the Company’s common stock on a national securities exchange and certain stock trading volume thresholds. In August 2021, the milestones triggering the additional consideration were met and the Company incurred $ 750,000 375,000 2.00 KreatAR, LLC The Company’s October 2016 acquisition of assets relating to the acquisitions of KreatAR, LLC contained a provision for additional acquisition consideration triggered by a potential listing of the Company’s common stock on a national securities exchange and certain stock trading volume thresholds. In August 2021, the milestones triggering the additional consideration were met. In connection therewith, the Company incurred $ 500,000

DEBT

DEBT	3 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	NOTE 6. DEBT Convertible Promissory Notes 1 In December 2019 the Company raised $ 1.33 three-year The Notes 1 bore an interest rate of 10 The Notes 1 were convertible by a Note 1 holder at any time during the term into common stock of the Company at a fixed price of $4.50/share, or approximately 295,000 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Interest expense on the Notes 1 was approximately $ 48,500 Primarily in January 2021, Note 1 holders converted approximately $ 1.21 0.30 4.00 The holders of the remaining unconverted Notes 1, equating to approximately $ 117,000 8,000 4.25 The Company recorded a loss on conversion of the remaining Notes 1 of approximately $ 18,000 Convertible Promissory Notes 2 In March 2021, the Company raised $ 1.48 two-year term The Notes 2 bore an interest rate of 10 The Notes 2 were convertible by a note holder at any time during the term into common stock of the Company at a fixed price of $ 5.00 295,000 March 5, 2023 5.00 1.313 162,000 The Company recorded a loss on conversion of the Notes 2 of approximately $ 262,000

EQUITY

EQUITY	3 Months Ended
	Sep. 30, 2021
Equity [Abstract]
EQUITY	NOTE 7. EQUITY Initial Public Offering (“IPO”) On July 1 ,2021, the Company completed an IPO of common stock on the Nasdaq under the symbol “VRAR”, at a price of $ 7.00 The Company sold approximately 1.91 11.82 In connection with the IPO, and for services rendered, the underwriter was issued a warrant to purchase 87,500 7.00 The warrant is valued at approximately $520,000 based on the Black-Scholes options pricing model method with the following assumptions: 5 year expected term, 129% expected volatility, 0.87% risk-free rate and 0% expected dividend yield. As stated in Note 6, in conjunction with the IPO, the outstanding convertible promissory Notes 1 and 2 were satisfied in full through the issuance of 324,150 280,000 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Common Stock Issued Common stock sold to Investors During the three months ended September 30, 2021, the Company sold approximately 1.91 7.00 11.82 During the three months ended September 30, 2020, the Company sold approximately 2,400 4.50 10,800 Common stock issued to Investors During the three months ended September 30, 2021, in connection with the conversion of convertible promissory notes and in conjunction with the IPO, the Company issued 324,150 Common stock issued for Acquisition During the three months ended September 30, 2021 the Company issued approximately 77,000 0.75 Common stock issued for Legacy Acquisition Obligation During the three months ended September 30, 2021 the Company issued 375,000 shares of common stock to satisfy a legacy acquisition obligation of $ 750,000 (see Note 5). This was accomplished by settling outstanding stock options the acquiree had been granted at $ 2.00 per share. Common stock issued to Vendors During the three months ended September 30, 2021 and 2020, the Company issued approximately 6,000 6,700 65,000 30,000 3,000 15,000 Common stock issued for Exercise of options During the three months ended September 30, 2021, the Company issued approximately 17,000 46,000 Employee Stock-Based Compensation The Company’s 2016 Equity Incentive Plan (the “Plan”), as amended, has 10 5.64 The Company recognizes compensation expense relating to awards ratably over the requisite period, which is generally the vesting period. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Stock options have been recorded at their fair value. The Black-Scholes option-pricing model assumptions used to value the issuance of stock options under the Plan, are noted in the following table: SCHEDULE OF BLACK-SCHOLES OPTION-PRICING MODEL ASSUMPTIONS Three Months Ended Three Months Ended Weighted average expected terms (in years) 5.4 5.1 Weighted average expected volatility 146.1 % 117.3 % Weighted average risk-free interest rate 0.9 % 0.3 % Expected dividend yield 0.0 % 0.0 % The grant date fair value, for options granted during the three months ended September 30, 2021 and 2020 was approximately $ 0.61 0.40 The following is a summary of the Company’s stock option activity for the three months ended September 30, 2021 and 2020: SUMMARY OF STOCK OPTION ACTIVITY Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2021 4,740,910 $ 3.40 8.5 $ 7,893,467 Options Granted 94,666 7.11 9.9 423,923 Options Exercised (392,394 ) 2.14 7.2 (3,720,795 ) Options Forfeited / Cancelled (82,838 ) 4.61 9.5 (563,393 ) Outstanding at September 30, 2021 4,360,344 $ 3.58 8.6 $ 16,283,017 Exercisable at September 30, 2021 4,143,324 $ 3.47 8.5 $ 15,852,955 Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2020 4,092,593 $ 3.19 8.4 $ 5,553,916 Options Granted 108,324 4.50 9.9 - Options Exercised - - - - Options Forfeited / Cancelled (16,809 ) 4.33 9.4 (2,828 ) Outstanding at September 30, 2020 4,184,108 $ 3.22 8.4 $ 5,469,339 Exercisable at September 30, 2020 3,840,479 $ 3.14 8.4 $ 5,337,626 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 The Company’s stock option-based expense for the three months ended September 30, 2021 and 2020 consisted of the following: SCHEDULE OF STOCK OPTION-BASED EXPENSE Three Months Ended Three Months Ended Stock option-based expense : Research and development expenses $ 347,597 $ 403,912 General and administrative expenses 66,643 98,163 Sales and marketing expenses 127,992 99,300 Cost of goods sold 22,764 45,687 Board option expense 88,619 42,751 Total $ 653,615 $ 689,813 During the year ended June 30, 2019, certain Company advisors received approximately $ 320,000 5.25 three-year term, for potential services to be performed over a three-year 320,000 29,000 58,000 29,000 At September 30, 2021, total unrecognized compensation expense to employees, board members and vendors related to stock options was approximately $ 1.06 1.85 1.19 0.83 The intrinsic value of stock options at September 30, 2021 was computed using a fair market value of the common stock of $ 7.29 4.50

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 8. EARNINGS PER SHARE The following table presents the computation of basic and diluted net loss per common share: SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Numerator: Net loss $ (1,656,761 ) $ (1,277,324 ) Denominator: Weighted-average common shares outstanding 9,967,821 7,039,928 Basic and diluted net loss per share $ (0.17 ) $ (0.18 ) THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Potentially dilutive securities that were not included in the calculation of diluted net loss per share attributable to common stockholders because their effect would be anti-dilutive are as follows (in common equivalent shares): SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES At September 30, 2021 At September 30, 2020 Stock Options 4,360,344 4,184,108 Warrants 87,500 - Convertible Notes - 296,111 Total 4,447,844 4,480,219

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	3 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	NOTE 9. PROVISION FOR INCOME TAXES There was no current or deferred income tax provision for the three months ended September 30, 2021 and 2020. The Company’s deferred tax assets as of September 30 2021 and 2020 consist of the following: SCHEDULE OF DEFERRED TAX ASSETS As of September 30, As of September 30, 2021 2020 Deferred tax assets: Net-operating loss carryforward $ 4,269,910 $ 2,961,194 Stock-based compensation 586,042 394,742 Total Deferred Tax Assets 4,855,952 3,355,936 Valuation allowance (4,855,952 ) (3,355,936 ) Deferred Tax Asset, Net $ - $ - The Company maintains a valuation allowance on deferred tax assets due to the uncertainty regarding the ability to utilize these deferred tax assets in the future. At September 30, 2021, the Company had potential utilizable aggregate gross net operating loss carryforwards (“NOLs”) of approximately $ 12.35 NOLs for the periods ending June 30, 2018 and prior in the amount of approximately $ 2.86 Section 382 of the U.S. Internal Revenue Code generally imposes an annual limitation on the amount of net operating loss carryforwards that might be used to offset taxable income when a corporation has undergone significant changes in stock ownership. The Company has not completed a Section 382 analysis of the NOL carryforwards. Consequently, the Company’s NOL carryforwards may be subject to annual limitations under Section 382. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and taxing strategies in making this assessment. As a result of the uncertainly in the realization of the Company’s deferred tax assets, the Company has provided a valuation allowance for the full amount of the deferred tax assets at September 30, 2021 and September 30, 2020. The Company’s valuation allowance during the three months ended September 30, 2021 and 2020 increased by approximately $ 0.40 0.20 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows: SCHEDULE OF EXPECTED TAX EXPENSE (BENEFIT) BASED ON US FEDERAL STATUTORY RATE For the Three Months Ended September 30, For the Three Months Ended September 30, 2021 2020 Statutory Federal Income Tax Rate 21.00 % 21.00 % State and Local Taxes, Net of Federal Tax Benefit (13.56 )% (13.56 )% Stock Based Compensation Expense (ISO) 10.61 % 19.15 % Change in Valuation Allowance (18.05 )% (26.59 )% Income Taxes Provision (Benefit) 0.00 0.00 Upon completion of its 2021 U.S. income tax return in 2022, the Company may identify additional remeasurement adjustments. The Company will continue to assess its provision for income taxes as future guidance is issued, but does not currently anticipate significant revisions will be necessary.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10. COMMITMENTS AND CONTINGENCIES Operating Lease The Company has an office space lease expiring, as amended, on December 31, 2022 75,000 Rent expense was approximately $ 86,000 72,000 309,000 75,000 Potential Future Distributions Upon Divestiture or Sale Upon a divestiture or sale of a subsidiary company, the Company is contractually obligated to distribute up to 10 COVID-19 The COVID-19 pandemic has caused and continues to cause significant business and financial markets disruption worldwide and there is significant uncertainty around the duration of this disruption and its ongoing effects on our business. This has primarily manifested itself in prolonged sales cycles. From March 2020 through June 2021, the Company had required substantially all of its employees to work remotely to minimize the risk of the virus. While working remotely has proven to be effective to this point, it may eventually inhibit the Company’s ability to operate its business effectively. Commencing July 2021, the Company has tentatively required employees to return to the office several days a week. We continue to closely monitor the situation and the effects on our business and operations. While uncertainty remains, given the current state of the pandemic, our expected revenue growth and current cash balance, we do not expect the impact of COVID-19 on our business and operations to worsen going forward. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11. SUBSEQUENT EVENTS ASSET ACQUISTION In October 2021, the Company, through its newly formed and wholly owned subsidiary company, XR Terra, LLC, completed an acquisition of certain assets, as defined, from XR Terra, Inc., a developer of teaching platforms utilized in coding software used in VR and AR programming. Initial consideration for the purchase is $ 0.60 50% 50% 0.30 33,877 SECURITIES PURCHASE AGREEMENT (“SPA”) In November 2021, the Company entered into a SPA to sell $ 15.0 Under the terms of the SPA, the Company sold 1.50 0.75 14.68 five years 10.00 13.6

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2021 and the results of operations and cash flows for the three months ended September 30, 2021 and 2020. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended September 30, 2021 are not necessarily indicative of the results to be expected for the entire year ending June 30, 2022 or for any subsequent periods. The consolidated balance sheet at June 30, 2021 has been derived from the audited consolidated financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended June 30, 2021.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the balances of Glimpse and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Accounting Estimates	Use of Accounting Estimates The preparation of the accompanying consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the accompanying consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The principal estimates relate to the valuation of allowance for doubtful accounts, common stock, stock options, cost of goods sold and allocation of the purchase price of assets relating to business combinations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and deposits in bank checking accounts with immediate access and cash equivalents that represent highly liquid investments.
Accounts Receivable	Accounts Receivable Accounts receivable consists primarily of amounts due from customers under normal trade terms. Allowances for uncollectible accounts are provided for based upon a variety of factors, including historical amounts written-off, an evaluation of current economic conditions, and assessment of customer collectability. As of September 30, 2021 and June 30, 2021 no THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020
Customer Concentration and Credit Risk	Customer Concentration and Credit Risk Two customers accounted for approximately 70 56 14 53 19 13 11 10 One customer accounted for approximately 76 71 57 14 The Company maintains cash in accounts that, at times, may be in excess of the Federal Deposit Insurance Corporation limit. The Company has not experienced any losses on such accounts.
Equipment, net	Equipment, net Equipment is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. The costs of improvements and betterments are capitalized and expenditures for repairs and maintenance are expensed in the period incurred. The Company assesses the recoverability of equipment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. There was no impairment of equipment for the periods presented.
Business Combinations	Business Combinations The results of a business acquired in a business combination are included in the Company’s consolidated financial statements from the date of the acquisition. Purchase accounting results in assets and liabilities of an acquired business generally being recorded at their estimated fair values as of the acquisition date. Any excess consideration over the fair value of assets acquired and liabilities assumed is recognized as goodwill. The Company performs valuations of assets acquired and liabilities assumed and allocates the purchase price to its respective assets and liabilities. Determining the fair value of assets acquired and liabilities assumed may require management to use significant judgment and estimates, including the selection of valuation methodologies, estimates of future revenues, costs and cash flows.
Intangibles, net	Intangibles, net Intangibles represent the allocation of a portion of an asset acquisition purchase price (see Note 4). Intangibles are stated at allocated cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the related assets.
Goodwill	Goodwill The Company reviews goodwill for impairment annually or more frequently if current circumstances or events indicate that the fair value may be less than its carrying value. The Company recorded goodwill related to an asset acquisition, see Note 4. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments, such as accounts receivable, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments. The Company’s convertible debt approximates fair value due to its short-term nature and market rate of interest.
Revenue Recognition	Revenue Recognition Nature of Revenues The Company reports its revenues in two categories: ● Software Services: Virtual and Augmented Reality projects, solutions and consulting services. ● Software License and Software-as-a-Service (“SaaS”): Virtual and Augmented Reality software that is sold either as a license or as a SaaS subscription. The Company applies the following steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: ● identify the contract with a customer; ● identify the performance obligations in the contract; ● determine the transaction price; ● allocate the transaction price to performance obligations in the contract; ● recognize revenue as the performance obligation is satisfied; ● determine that collection is reasonably assured. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product or service is performed and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Any unrecognized portion of revenue and any corresponding unrecognized expenses are presented as deferred revenue and deferred costs, respectively, in the accompanying consolidated balance sheet. Deferred costs include cash and equity based payroll costs, and may include payments to vendors. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or providing services. As such, revenue is recorded net of returns, allowances, customer discounts, and incentives. Sales taxes and other taxes are excluded from revenues. Significant Judgments The Company’s contracts with customers may include promises to transfer multiple products/services. Determining whether products/services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Further, judgment may be required to determine the standalone selling price for each distinct performance obligation. Disaggregation of Revenue The Company generated revenue for the three months ended September 30, 2021 and 2020 by delivering: (i) Software Services, consisting primarily of VR/AR software projects, solutions and consulting services, and (ii) Software Licenses & SaaS, consisting primarily of VR and AR software licenses or SaaS. The Company currently generates its revenues primarily from customers in the United States. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Revenue for Software Services projects and solutions is recognized at the point of time in which the customer obtains control of the project, customer accepts delivery and confirms completion of the project. Revenue for Software Services consulting services and website maintenance is recognized at the point of time in which the Company performs the services, typically on a monthly retainer basis. Revenue for Software License and SaaS is recognized at the point of time in which the Company delivers the software and customer accepts delivery. If there are contractually stated ongoing service obligations to be performed during the term of the Software License or SaaS contract, then revenues are recognized ratably over the term of the contract. Timing of Revenue The timing of revenue recognition for the three months ended September 30, 2021 and 2020 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2021 2020 For the Three Months Ended September 30, 2021 2020 Products transferred at a point in time $ 955,751 $ 193,175 Products and services transferred over time 66,782 66,752 Total Revenue $ 1,022,533 $ 259,927 Remaining Performance Obligations Timing of revenue recognition may differ from the timing of invoicing to customers. The Company records a receivable when revenue is recognized prior to invoicing, or deferred revenue when revenue is recognized subsequent to invoicing. For Software Services project contracts, the Company generally invoices customers after the project has been delivered and accepted by the customer. Software Service project contracts typically consist of designing and programming software for the customer. In most cases, there is only one performance obligation, and revenue is recognized upon completion, delivery and customer acceptance. In certain instances one contract may include multiple distinct projects that can each be implemented and operated independently of subsequent projects in the contract. In such cases, the Company accounts for these distinct projects as separate performance obligations and recognizes revenue upon the completion of each project or obligation, its delivery and customer acceptance. For Software Services consulting or retainer contracts, the Company generally invoices customers monthly at the beginning of each month in advance for services to be performed in the following month. The sole performance obligation is satisfied when the services are performed. Software Services consulting or retainer contracts typically consist of ongoing support for a customer’s software or specified business practices. For Software License or SaaS contracts, the Company generally invoices customers when the software has been delivered to and accepted by the customer, which is also when the performance obligation is satisfied. For multi-period Software License or SaaS contracts, the Company generally invoices customers annually at the beginning of each annual coverage period. Software License or SaaS contracts consist of providing clients with software designed by the Company. For Software License or SaaS contracts, there are generally no ongoing support obligations unless specified in the contract (becoming a Software Service). THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 Deferred revenue is comprised mainly of software project contract performance obligations not completed. Unfulfilled performance obligations represent amounts expected to be earned by the Company on executed contracts. As of September 30, 2021, the Company had approximately $ 1.20
Employee Stock-Based Compensation	Employee Stock-Based Compensation The Company recognizes stock-based compensation expense related to grants to employees or service providers based on grant date fair values of common stock or the stock options, which are amortized over the requisite period, as well as forfeitures as they occur. The Company values the options using the Black-Scholes Merton (“Black Scholes”) method utilizing various inputs such as expected term, expected volatility and the risk-free rate. The expected term reflects the application of the simplified method, which is the weighted average of the contractual term of the grant and the vesting period for each tranche. Expected volatility is derived from a weighted average of volatility inputs for the Company since its IPO. Prior to its IPO, expected volatility is derived from a weighted average of volatility inputs for comparable software and technology service companies The risk-free rate is based on the implied yield of U.S. Treasury notes as of the grant date with a remaining term approximately equal to the expected life of the award.
Research and Development Costs	Research and Development Costs Research and development expenses are expensed as incurred, and include payroll, employee benefits and stock-based compensation expense. Research and development expenses also include third-party development and programming costs. Given the emerging industry and uncertain market environment the Company operates in, research and development costs are not capitalized.
Income Taxes	Income Taxes The Company records income taxes using the asset and liability method. Deferred income tax assets and liabilities are recognized for the future tax effects attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and operating loss and tax credit carryforwards. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be recovered based on an evaluation of objective verifiable evidence. For tax positions that are more likely than not of being sustained upon audit, the Company recognizes the largest amount of the benefit that is greater than 50% The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 740, Income Taxes THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) SEPTEMBER 30, 2021 AND 2020 The Company’s policy for recording interest and penalties associated with audits is to record such expense as a component of income tax expense. There were no amounts accrued for penalties or interest for the three months ended September 30, 2021 and 2020. Management is currently unaware of any issues under review that could result in significant payments, accruals or material deviations from its position.
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential shares of common stock outstanding during the period using the treasury stock method. Dilutive potential common shares include the issuance of potential shares of common stock for outstanding stock options and convertible debt.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the Company’s financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SCHEDULE OF TIMING REVENUE RECOGNITION	The timing of revenue recognition for the three months ended September 30, 2021 and 2020 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2021 2020 For the Three Months Ended September 30, 2021 2020 Products transferred at a point in time $ 955,751 $ 193,175 Products and services transferred over time 66,782 66,752 Total Revenue $ 1,022,533 $ 259,927

ASSET ACQUISTION (Tables)

ASSET ACQUISTION (Tables)	3 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
SCHEDULE OF ASSET ACQUISITION	SCHEDULE OF ASSET ACQUISITION As of September 30, 2021 Value ($) Useful Life Intangible Assets Customer Relationships $ 250,000 3 Technology 250,000 3 Less: Accumulated Amortization (20,833 ) Intangible Assets, net $ 479,167 Goodwill $ 250,000 N/A

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Sep. 30, 2021
Equity [Abstract]
SCHEDULE OF BLACK-SCHOLES OPTION-PRICING MODEL ASSUMPTIONS	Stock options have been recorded at their fair value. The Black-Scholes option-pricing model assumptions used to value the issuance of stock options under the Plan, are noted in the following table: SCHEDULE OF BLACK-SCHOLES OPTION-PRICING MODEL ASSUMPTIONS Three Months Ended Three Months Ended Weighted average expected terms (in years) 5.4 5.1 Weighted average expected volatility 146.1 % 117.3 % Weighted average risk-free interest rate 0.9 % 0.3 % Expected dividend yield 0.0 % 0.0 %
SUMMARY OF STOCK OPTION ACTIVITY	The following is a summary of the Company’s stock option activity for the three months ended September 30, 2021 and 2020: SUMMARY OF STOCK OPTION ACTIVITY Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2021 4,740,910 $ 3.40 8.5 $ 7,893,467 Options Granted 94,666 7.11 9.9 423,923 Options Exercised (392,394 ) 2.14 7.2 (3,720,795 ) Options Forfeited / Cancelled (82,838 ) 4.61 9.5 (563,393 ) Outstanding at September 30, 2021 4,360,344 $ 3.58 8.6 $ 16,283,017 Exercisable at September 30, 2021 4,143,324 $ 3.47 8.5 $ 15,852,955 Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2020 4,092,593 $ 3.19 8.4 $ 5,553,916 Options Granted 108,324 4.50 9.9 - Options Exercised - - - - Options Forfeited / Cancelled (16,809 ) 4.33 9.4 (2,828 ) Outstanding at September 30, 2020 4,184,108 $ 3.22 8.4 $ 5,469,339 Exercisable at September 30, 2020 3,840,479 $ 3.14 8.4 $ 5,337,626
SCHEDULE OF STOCK OPTION-BASED EXPENSE	The Company’s stock option-based expense for the three months ended September 30, 2021 and 2020 consisted of the following: SCHEDULE OF STOCK OPTION-BASED EXPENSE Three Months Ended Three Months Ended Stock option-based expense : Research and development expenses $ 347,597 $ 403,912 General and administrative expenses 66,643 98,163 Sales and marketing expenses 127,992 99,300 Cost of goods sold 22,764 45,687 Board option expense 88,619 42,751 Total $ 653,615 $ 689,813

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE	The following table presents the computation of basic and diluted net loss per common share: SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Numerator: Net loss $ (1,656,761 ) $ (1,277,324 ) Denominator: Weighted-average common shares outstanding 9,967,821 7,039,928 Basic and diluted net loss per share $ (0.17 ) $ (0.18 )
SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES	Potentially dilutive securities that were not included in the calculation of diluted net loss per share attributable to common stockholders because their effect would be anti-dilutive are as follows (in common equivalent shares): SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES At September 30, 2021 At September 30, 2020 Stock Options 4,360,344 4,184,108 Warrants 87,500 - Convertible Notes - 296,111 Total 4,447,844 4,480,219

PROVISION FOR INCOME TAXES (Tab

PROVISION FOR INCOME TAXES (Tables)	3 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF DEFERRED TAX ASSETS	The Company’s deferred tax assets as of September 30 2021 and 2020 consist of the following: SCHEDULE OF DEFERRED TAX ASSETS As of September 30, As of September 30, 2021 2020 Deferred tax assets: Net-operating loss carryforward $ 4,269,910 $ 2,961,194 Stock-based compensation 586,042 394,742 Total Deferred Tax Assets 4,855,952 3,355,936 Valuation allowance (4,855,952 ) (3,355,936 ) Deferred Tax Asset, Net $ - $ -
SCHEDULE OF EXPECTED TAX EXPENSE (BENEFIT) BASED ON US FEDERAL STATUTORY RATE	The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows: SCHEDULE OF EXPECTED TAX EXPENSE (BENEFIT) BASED ON US FEDERAL STATUTORY RATE For the Three Months Ended September 30, For the Three Months Ended September 30, 2021 2020 Statutory Federal Income Tax Rate 21.00 % 21.00 % State and Local Taxes, Net of Federal Tax Benefit (13.56 )% (13.56 )% Stock Based Compensation Expense (ISO) 10.61 % 19.15 % Change in Valuation Allowance (18.05 )% (26.59 )% Income Taxes Provision (Benefit) 0.00 0.00

LIQUIDITY AND CAPITAL RESOURC_2

LIQUIDITY AND CAPITAL RESOURCES (Details Narrative) - USD ($)	Nov. 01, 2021	Jul. 02, 2021	Sep. 30, 2021	Sep. 30, 2020	Nov. 02, 2021	Jun. 30, 2021
Subsequent Event [Line Items]
Net loss			$ 1,656,761	$ 1,277,324
Share issued price per share		$ 7
Gross proceeds from issuance initial public offering		$ 13,400,000
Net proceeds from issuance initial public offering		$ 11,800,000	11,821,364
Cash and Cash Equivalents, at Carrying Value			$ 12,567,632			$ 1,771,929
Subsequent Event [Member]
Subsequent Event [Line Items]
Net proceeds from issuance initial public offering	$ 13,600,000
Cash and Cash Equivalents, at Carrying Value					$ 26,000,000

SCHEDULE OF TIMING REVENUE RECO

SCHEDULE OF TIMING REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,022,533	$ 259,927
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	955,751	193,175
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 66,782	$ 66,752

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Product Information [Line Items]
Allowance for doubtful accounts receivable	$ 0		$ 0
Unfulfilled performance obligations	$ 1,200,000
Tax benefit settlement description	greater than 50%
Two Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage	70.00%
Two Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage			71.00%
Customer One [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage	56.00%
Customer One [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage			57.00%
Customer Two [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage	14.00%
Customer Two [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage			14.00%
Four Other Customers [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage		53.00%
Other Customer One [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage		19.00%
Other Customer Two [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage		13.00%
Other Customer Three [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage		11.00%
Other Customer Four [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage		10.00%
One Customers [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentration risk percentage	76.00%

SCHEDULE OF ASSET ACQUISITION (

SCHEDULE OF ASSET ACQUISITION (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (20,833)
Intangible assets, net	479,167
Goodwill	250,000
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Technology	$ 250,000
Intangible assets useful life (years)	3 years
Technology-Based Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Technology	$ 250,000
Intangible assets useful life (years)	3 years

ASSET ACQUISTION (Details Narra

ASSET ACQUISTION (Details Narrative) $ in Thousands	1 Months Ended
	Aug. 31, 2021USD ($)shares
Business Combination and Asset Acquisition [Abstract]
Purchase of assets consideration value | $	$ 750
Common stock purchase price | shares	77,264

CONTINGENT ACQUISITION LIABIL_2

CONTINGENT ACQUISITION LIABILITY (Details Narrative) - USD ($)	Jul. 02, 2021	Aug. 31, 2021
Business Acquisition [Line Items]
Common stock issued to settlement obligation	1,910,000
Shares issued price per share	$ 7
Kabaq 3D Technologies LLC [Member]
Business Acquisition [Line Items]
Additional acquisition cost		$ 750,000
Kabaq 3D Technologies LLC [Member] | Equity Option [Member]
Business Acquisition [Line Items]
Common stock issued to settlement obligation		375,000
Shares issued price per share		$ 2
Kreat AR LLC [Member]
Business Acquisition [Line Items]
Additional acquisition cost		$ 500,000

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jan. 31, 2021	Dec. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Jul. 02, 2021
Short-term Debt [Line Items]
Stock issued during period value						$ 10,820
Loss on conversion of convertible notes					$ 279,730
Share issued price per share							$ 7
IPO [Member]
Short-term Debt [Line Items]
Debt conversion converted instrument shares					324,150
Loss on conversion of convertible notes					$ 280,000
Share issued price per share					$ 7
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Proceeds from issuance of unsecured debt		$ 1,480,000		$ 1,330,000
Debt instrument term, description		two-year term		three-year
Debt instrument interest rate percentage		10.00%		10.00%
Debt interest payment description				during the term into common stock of the Company at a fixed price of $4.50/share, or approximately 295,000 shares of common stock upon full conversion
Debt conversion converted instrument shares		295,000	300,000	295,000	324,150
Stock issued during period value			$ 1,210,000
Debt instrument conversion price per share			$ 4
Convertible promissory notes	$ 117,000
Debt instrument maturity date		Mar. 5, 2023
Convertible Notes Payable [Member] | IPO [Member]
Short-term Debt [Line Items]
Original issue discount on notes	$ 8,000
Debt instrument conversion price per share	$ 4.25	$ 5
Loss on conversion of convertible notes	$ 18,000	$ 262,000
Convertible Notes Payable [Member] | Additional Interest [Member]
Short-term Debt [Line Items]
Original issue discount on notes						$ 48,500
Convertible Notes Payable [Member] | Second Year Of Notes [Member]
Short-term Debt [Line Items]
Original issue discount on notes	162,000
Convertible promissory notes	$ 1,313,000
Share issued price per share	$ 5

SCHEDULE OF BLACK-SCHOLES OPTIO

SCHEDULE OF BLACK-SCHOLES OPTION-PRICING MODEL ASSUMPTIONS (Details)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Weighted average expected terms (in years)	5 years 4 months 24 days	5 years 1 month 6 days
Weighted average expected volatility	146.10%	117.30%
Weighted average risk-free interest rate	0.90%	0.30%
Expected dividend yield	0.00%	0.00%

SUMMARY OF STOCK OPTION ACTIVIT

SUMMARY OF STOCK OPTION ACTIVITY (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Options Outstanding, Beginning balance	4,740,910	4,092,593
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 3.40	$ 3.19
Weighted Average Remaining Contractual Term (Yrs), Outstanding Beginning	8 years 6 months	8 years 4 months 24 days
Intrinsic Value, Outstanding Beginning balance	$ 7,893,467	$ 5,553,916
Options, Granted	94,666	108,324
Weighted Average Exercise Price, Options Granted	$ 7.11	$ 4.50
Weighted Average Remaining Contractual Term (Yrs), Options Granted	9 years 10 months 24 days	9 years 10 months 24 days
Intrinsic Value, Options Granted	$ 423,923
Options, Exercised	(392,394)
Weighted Average Exercise Price, Options Exercised	$ 2.14
Weighted Average Remaining Contractual Term (Yrs), Options Exercised	7 years 2 months 12 days
Intrinsic Value, Options Exercised	$ (3,720,795)
Options, Forfeited/Cancelled	(82,838)	(16,809)
Weighted Average Exercise Price, Options Forfeited/Cancelled	$ 4.61	$ 4.33
Weighted Average Remaining Contractual Term (Yrs), Options Forfeited/Cancelled	9 years 6 months	9 years 4 months 24 days
Intrinsic Value, Options Forfeited/Cancelled	$ (563,393)	$ (2,828)
Options Outstanding, Ending balance	4,360,344	4,184,108
Weighted Average Exercise Price, Outstanding, Ending balance	$ 3.58	$ 3.22
Weighted Average Remaining Contractual Term (Yrs), Outstanding Ending	8 years 7 months 6 days	8 years 4 months 24 days
Intrinsic Value, Outstanding Ending balance	$ 16,283,017	$ 5,469,339
Options Exercisable, Ending balance	4,143,324	3,840,479
Weighted Average Exercise Price, Exercisable, Ending balance	$ 3.47	$ 3.14
Weighted Average Remaining Contractual Term (Yrs), Exercisable, Ending	8 years 6 months	8 years 4 months 24 days
Intrinsic Value, Exercisable Ending balance	$ 15,852,955	$ 5,337,626

SCHEDULE OF STOCK OPTION-BASED

SCHEDULE OF STOCK OPTION-BASED EXPENSE (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Total	$ 653,615	$ 689,813
Research and Development Expense [Member]
Total	347,597	403,912
General and Administrative Expense [Member]
Total	66,643	98,163
Selling and Marketing Expense [Member]
Total	127,992	99,300
Cost of Sales [Member]
Total	22,764	45,687
Board Option Expense [Member]
Total	$ 88,619	$ 42,751

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	Jul. 02, 2021	Jun. 30, 2021	Mar. 31, 2021	Jan. 31, 2021	Dec. 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2019
Subsidiary, Sale of Stock [Line Items]
Shares Issued, Price Per Share	$ 7
Stock issued during period shares	1,910,000
Proceeds from Issuance or Sale of Equity	$ 11,820,000
Warrant exercisable description						The warrant is valued at approximately $520,000 based on the Black-Scholes options pricing model method with the following assumptions: 5 year expected term, 129% expected volatility, 0.87% risk-free rate and 0% expected dividend yield.
Loss on conversion of convertible notes						$ 279,730
Proceeds from sale of common stock							10,820
Stock issued during period value							$ 10,820
Legacy acquisition obligation						$ 750,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price						$ 7.11	$ 4.50
Options granted, fair value						610,000	400,000
Stock options exercise price per share						$ 2.14
General and administration expense						$ 779,729	$ 335,998
2016 Equity Incentive Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Stock available for issuance						5,640,000
Prepaid expenses		$ 58,000				$ 29,000
General and administration expense						29,000
Unrecognized compensation expense to employees and vendors						$ 1,060,000	$ 1,190,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition						1 year 10 months 6 days	9 months 29 days
Stock options intrinsic value per share						$ 7.29	$ 4.50
2016 Equity Incentive Plan [Member] | Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance						10,000,000
To Satisfy Contingent Liabilities [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares						17,000
Stock issued during period value						$ 46,000
Legacy Acquisition Obligation [Member]
Subsidiary, Sale of Stock [Line Items]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price						$ 2
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares							2,423
Stock issued during period value							$ 2
Common Stock [Member] | Acquisition [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares						77,000
Stock issued during period value						$ 750,000
Common Stock [Member] | Legacy Acquisition Obligation [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares						375,000
Convertible Notes Payable [Member]
Subsidiary, Sale of Stock [Line Items]
Shares Issued For Convertable Promisary note			295,000	300,000	295,000	324,150
Stock issued during period value				$ 1,210,000
Investor [Member]
Subsidiary, Sale of Stock [Line Items]
Shares Issued, Price Per Share						$ 7	$ 4.50
Stock issued during period shares						1,910,000	2,400
Proceeds from sale of common stock						$ 11,820,000	$ 10,800
Vendors [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares for services						6,000	6,700
Share-based compensation expense						$ 65,000	$ 30,000
Unrecognized Share based compensation						$ 3,000	$ 15,000
Advisors [Member] | 2016 Equity Incentive Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Stock options granted during period value								$ 320,000
Stock options exercise price per share								$ 5.25
Share-based Compensation Arrangement by Share-based Payment Award, Description								three-year term, for potential services to be performed over a three-year
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Shares Issued, Price Per Share						$ 7
Stock issued during period shares for services						87,500
Shares Issued For Convertable Promisary note						324,150
Loss on conversion of convertible notes						$ 280,000
IPO [Member] | Convertible Notes Payable [Member]
Subsidiary, Sale of Stock [Line Items]
Loss on conversion of convertible notes		$ 18,000	$ 262,000

SCHEDULE OF COMPUTATION OF BASI

SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (1,656,761)	$ (1,277,324)
Weighted-average common shares outstanding for basic and diluted net loss per share	9,967,821	7,039,928
Basic and diluted net loss per share	$ (0.17)	$ (0.18)

SCHEDULE OF POTENTIALLY DILUTIV

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,447,844	4,480,219
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	4,360,344	4,184,108
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	87,500
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total		296,111

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Net-operating loss carryforward	$ 4,269,910	$ 2,961,194
Stock-based compensation	586,042	394,742
Total Deferred Tax Assets	4,855,952	3,355,936
Valuation allowance	(4,855,952)	(3,355,936)
Deferred Tax Asset, Net

SCHEDULE OF EXPECTED TAX EXPENS

SCHEDULE OF EXPECTED TAX EXPENSE (BENEFIT) BASED ON US FEDERAL STATUTORY RATE (Details)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Statutory Federal Income Tax Rate	21.00%	21.00%
State and Local Taxes, Net of Federal Tax Benefit	(13.56%)	(13.56%)
Stock Based Compensation Expense (ISO)	10.61%	19.15%
Change in Valuation Allowance	(18.05%)	(26.59%)
Income Taxes Provision (Benefit)	0.00%	0.00%

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Operating loss carry forwards, net	$ 12,350		$ 2,860
Operating loss carry forwards expiration date	NOLs for the periods ending June 30, 2018 and prior in the amount of approximately $2.86 million begin to expire in 2037
Valuation allowance	$ 400	$ 200

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Lease Expiration Date	Dec. 31, 2022
Security deposit	$ 75,000
Rent expense	$ 86,000	$ 72,000
Maximum distribution percentage of net proceeds from divestiture	10.00%
October 2021-September 2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Lease payments	$ 309,000
Lease payments due thereafter	$ 75,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Nov. 30, 2021	Oct. 31, 2021	Aug. 31, 2021	Jul. 02, 2021
Subsequent Event [Line Items]
Purchase of assets consideration value			$ 750
Shares Issued, Price Per Share				$ 7
Subsequent Event [Member]
Subsequent Event [Line Items]
Purchase of assets consideration value		$ 600
Stock purchase percentage		50.00%
Stock Repurchased During Period, Value		$ 300
Stock Repurchased During Period, Shares		33,877
Subsequent Event [Member] | Securities Purchase Agreement [Member]
Subsequent Event [Line Items]
Proceeds from sale of stock	$ 15,000
Sale of stock, shares	1,500,000
Warrants to purchase shares	750,000
Warrants price per share	$ 14.68
Warrants and Rights Outstanding, Term	5 years
Shares Issued, Price Per Share	$ 10
Proceeds from warrants exercise	$ 13,600