The Glimpse Group, Inc. (VRAR) 10-Q 15 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	May 10, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
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., 12th 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		14,451,584

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Jun. 30, 2022
ASSETS
Cash and cash equivalents	$ 6,048,001	$ 16,249,666
Investments	247,511	239,314
Accounts receivable	1,551,355	1,332,922
Deferred costs/contract assets	72,436	39,484
Prepaid expenses and other current assets	581,518	389,618
Total current assets	8,500,821	18,251,004
Equipment, net	331,591	245,970
Note receivable		250,000
Right-of-use assets	936,338
Intangible assets, net	6,814,271	4,063,485
Goodwill	22,306,959	13,464,760
Other assets	71,769	121,865
Restricted cash	2,000,000	2,000,000
Total assets	40,961,749	38,397,084
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	349,661	340,139
Accrued liabilities	343,906	188,417
Accrued bonuses	149,890	169,262
Deferred revenue/contract liabilities	529,898	841,389
Asset purchase payable		734,037
Lease liabilities, current portion	399,424
Contingent consideration for acquisitions, current portion	4,123,988	1,966,171
Total current liabilities	5,896,767	4,239,415
Long term liabilities
Contingent consideration for acquisitions, net of current portion	6,519,800	5,340,800
Lease liabilities, net of current portion	521,855
Total liabilities	12,938,422	9,580,215
Commitments and contingencies
Stockholders’ Equity
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; 14,340,132 and 12,747,624 issued and outstanding	14,341	12,749
Additional paid-in capital	65,387,641	56,885,815
Accumulated deficit	(37,378,655)	(28,081,695)
Total stockholders’ equity	28,023,327	28,816,869
Total liabilities and stockholders’ equity	$ 40,961,749	$ 38,397,084

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Jun. 30, 2022
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	14,340,132	12,747,624
Common stock, shares outstanding	14,340,132	12,747,624

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Revenue
Total Revenue	$ 3,672,390	$ 2,052,328	$ 10,573,961	$ 4,764,863
Cost of goods sold	1,223,531	370,499	3,313,409	728,140
Gross Profit	2,448,859	1,681,829	7,260,552	4,036,723
Operating expenses:
Research and development expenses	2,157,307	1,912,329	6,692,332	4,092,203
General and administrative expenses	1,137,231	1,131,241	3,773,231	3,020,584
Sales and marketing expenses	1,456,883	854,098	4,938,213	2,024,462
Amortization of acquisition intangible assets	550,786	160,663	1,536,467	248,158
Intangible asset impairment	479,182		479,182
Change in fair value of acquisition contingent consideration	1,947,989		(677,113)
Total operating expenses	7,729,378	4,058,331	16,742,312	9,385,407
Loss from operations before other income (expense)	(5,280,519)	(2,376,502)	(9,481,760)	(5,348,684)
Other income (expense)
Forgiveness of Paycheck Protection Program loan		623,828		623,828
Interest income	57,921	1,061	184,800	20,818
Loss on conversion of convertible notes				(279,730)
Total other income (expense), net	57,921	624,889	184,800	364,916
Net Loss	$ (5,222,598)	$ (1,751,613)	$ (9,296,960)	$ (4,983,768)
Basic and diluted net loss per share	$ (0.38)	$ (0.14)	$ (0.68)	$ (0.44)
Weighted-average shares used to compute basic and diluted net loss per share	13,783,241	12,604,315	13,727,595	11,386,679
Software Services [Member]
Revenue
Total Revenue	$ 3,119,948	$ 1,922,950	$ 9,868,920	$ 4,340,863
Software License [Member]
Revenue
Total Revenue	$ 552,442	$ 129,378	$ 705,041	$ 424,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
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 to vendors for compensation	$ 15	162,880		162,895
Common stock issued to vendors for compensation, shares	14,902
Common stock issued for exercise of options	$ 559	1,325,484		$ 1,326,043
Common stock issued for exercise of options, shares	559,775			969,775
Common stock and stock option based compensation expense	$ 11	1,704,342		$ 1,704,353
Stock based compensation expense, shares	10,841
Stock option-based board of directors expense		332,166		332,166
Net loss			(4,983,768)	(4,983,768)
Common stock issued for acquisition	$ 388	3,346,915		3,347,303
Common stock issued for acquisitions, shares	388,342
Common stock issued to satisfy legacy acquisition obligation	$ 453	1,249,547		1,250,000
Common stock issued for legacy acquisition obligation, shares	452,978
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 in Securities Purchase Agreement, net	$ 1,500	13,576,900		13,578,400
Common stock issued in Securities Purchase Agreement, net, shares	1,500,000
Common stock issued for convertible note conversion	$ 324	1,605,852		1,606,176
Common stock issued for convertible note conversion, shares	324,150
Ending balance, value at Mar. 31, 2022	$ 12,743	56,059,587	(27,099,176)	28,973,154
Ending balance, shares at Mar. 31, 2022	12,742,773
Beginning balance, value at Dec. 31, 2021	$ 12,480	55,764,735	(25,347,563)	30,429,652
Beginning balance, shares at Dec. 31, 2021	12,480,416
Common stock issued to vendors for compensation	$ 2	14,998		15,000
Common stock issued to vendors for compensation, shares	1,529
Common stock issued for exercise of options	$ 203	712,221		712,424
Common stock issued for exercise of options, shares	202,850
Common stock and stock option based compensation expense		654,090		654,090
Stock option-based board of directors expense		156,298		156,298
Net loss			(1,751,613)	(1,751,613)
Common stock issued for acquisition - fair value adjustment at close		(1,702,697)		(1,702,697)
Common stock issued to satisfy legacy acquisition obligation	$ 58	459,942		460,000
Common stock issued for legacy acquisition obligation, shares	57,978
Ending balance, value at Mar. 31, 2022	$ 12,743	56,059,587	(27,099,176)	28,973,154
Ending balance, shares at Mar. 31, 2022	12,742,773
Beginning balance, value at Jun. 30, 2022	$ 12,749	56,885,815	(28,081,695)	28,816,869
Beginning balance, shares at Jun. 30, 2022	12,747,624
Common stock issued to vendors for compensation	$ 2	5,236		5,238
Common stock issued to vendors for compensation, shares	1,800
Common stock issued for exercise of options	$ 42	66,069		$ 66,111
Common stock issued for exercise of options, shares	41,996			94,932
Common stock issued to satisfy contingent acquisition obligations	$ 469	1,874,605		$ 1,875,074
Common stock issued to satisfy contingent acquisition obligations, shares	469,541
Common stock and stock option based compensation expense	$ 79	2,270,981		2,271,060
Stock based compensation expense, shares	79,167
Stock option-based board of directors expense		379,319		379,319
Net loss			(9,296,960)	(9,296,960)
Common stock issued for acquisition	$ 714	2,845,430		2,846,144
Common stock issued for acquisitions, shares	714,286
Common stock issued for satisfaction of prior year acquisition liability	$ 214	733,822		734,036
Common stock issued for satisfaction of prior year acquisition liability, shares	214,288
Common stock issued for purchase of intangible asset - technology	$ 72	326,364		326,436
Common stock issued for purchase of intangible asset - technology, shares	71,430
Ending balance, value at Mar. 31, 2023	$ 14,341	65,387,641	(37,378,655)	28,023,327
Ending balance, shares at Mar. 31, 2023	14,340,132
Beginning balance, value at Dec. 31, 2022	$ 13,968	63,069,423	(32,156,057)	30,927,334
Beginning balance, shares at Dec. 31, 2022	13,966,007
Common stock issued to vendors for compensation	$ 2	5,236		5,238
Common stock issued to vendors for compensation, shares	1,800
Common stock issued for exercise of options	$ 15	21,180		21,195
Common stock issued for exercise of options, shares	15,315
Common stock issued to satisfy contingent acquisition obligations	$ 326	1,358,678		1,359,004
Common stock issued to satisfy contingent acquisition obligations, shares	326,684
Common stock and stock option based compensation expense	$ 30	847,372		847,402
Stock based compensation expense, shares	30,326
Stock option-based board of directors expense		85,752		85,752
Net loss			(5,222,598)	(5,222,598)
Ending balance, value at Mar. 31, 2023	$ 14,341	$ 65,387,641	$ (37,378,655)	$ 28,023,327
Ending balance, shares at Mar. 31, 2023	14,340,132

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (9,296,960)	$ (4,983,768)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and depreciation	1,645,846	281,641
Common stock and stock option based compensation for employees and board of directors	2,784,667	2,102,271
Acquisition contingent consideration fair value adjustment	(677,113)
Impairment of intangible assets	479,182
Issuance of common stock to vendors as compensation	5,238	162,895
Amortization of right-to-use-assets	342,285
Loss on conversion of convertible notes		279,730
Forgiveness of Paycheck Protection Program loan		(623,828)
Changes in operating assets and liabilities:
Accounts receivable	(48,340)	(328,582)
Pre-offering costs		470,136
Deferred costs/contract assets	519,673	(5,082)
Prepaid expenses and other current assets	(120,436)	(423,010)
Other assets	149,962	(48,000)
Accounts payable	(525,832)	(80,164)
Accrued liabilities	3,987	(58,014)
Accrued bonuses	(153,660)	(440,357)
Deferred revenue/contract liabilities	(2,348,561)	14,418
Lease liabilities	(357,341)
Net cash used in operating activities	(7,597,403)	(3,679,714)
Cash flow from investing activities:
Purchases of equipment	(139,420)	(166,928)
Acquisitions, net of cash acquired	(2,522,756)	(3,815,894)
Asset acquisition		(300,000)
Purchase of investments	(8,197)	(242,160)
Net cash used in investing activities	(2,670,373)	(4,524,982)
Cash flows from financing activities:
Proceeds from initial public offering, net		11,821,364
Proceeds from securities purchase agreement, net		13,578,400
Proceeds from exercise of stock options	66,111	1,326,043
Issuance of note receivable		(250,000)
Net cash provided by financing activities	66,111	26,475,807
Net change in cash, cash equivalents and restricted cash	(10,201,665)	18,271,111
Cash, cash equivalents and restricted cash, beginning of period	18,249,666	1,771,929
Cash, cash equivalents and restricted cash, end of period	8,048,001	20,043,040
Non-cash Investing and Financing activities:
Common stock issued for acquisitions	2,845,430	3,347,303
Common stock issued for satisfaction of prior year acquisition lability	734,036
Common stock issued for purchase of intangible asset - technology	326,436
Issuance of common stock for satisfaction of contingent liability, net of note extinguishment	318,571
Extinguishment of note receivable for satisfaction of contingent liability	250,000
Contingent acquisition consideration liability recorded at closing	6,139,000	9,169,200
Issuance of common stock for satisfaction of contingent liability	1,359,001
Lease liabilities arising from right-of-use assets	1,221,513
Issuance of common stock for satisfaction of legacy acquisition liability		1,250,000
Conversion of convertible promissory notes into common stock		1,606,176
Issuance of warrants in connection with initial public offering		522,360
Issuance of warrants in connection with securities purchase agreement		$ 8,797,546

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1. DESCRIPTION OF BUSINESS The Glimpse Group, Inc. (“Glimpse” and together with its wholly owned subsidiaries, collectively, the “Company”) is a Virtual (VR) and Augmented (AR) Reality company, comprised of a diversified portfolio of wholly owned VR and AR software and services companies. Glimpse’s subsidiary companies are located in the United States, Turkey, Israel and Australia. The Company was incorporated in the State of Nevada in June 2016. Glimpse’s robust VR/AR ecosystem, collaborative environment and business model strive to simplify the many challenges faced by companies in an emerging industry. Glimpse cultivates, optimizes and manages business operations while providing a strong network of professional relationships, thereby allowing the subsidiary company 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. In addition, pursuant to a Securities Purchase Agreement (“SPA”) the Company sold additional common stock to certain institutional investors in November 2021. See Note 8.

LIQUIDITY AND CAPITAL RESOURCES

LIQUIDITY AND CAPITAL RESOURCES	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LIQUIDITY AND CAPITAL RESOURCES	NOTE 2. LIQUIDITY AND CAPITAL RESOURCES The Company incurred losses of approximately $ 9.30 4.98 The Company is striving to reach cash flow neutrality from operations in calendar year 2023. The following steps have been taken since the end of calendar year 2022 in order to achieve this objective: workforce reduction of approximately 10 20 25 10 20 5.5 2 1.50 100 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2023
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 SEC. 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 March 31, 2023, the results of operations for the three and nine months ended March 31, 2023 and 2022, and cash flows for the nine months ended March 31, 2023 and 2022. 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 and nine months ended March 31, 2023 are not necessarily indicative of the results to be expected for the entire year ending June 30, 2023 or for any subsequent periods. The consolidated balance sheet at June 30, 2022 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, 2022. 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, stock options, warrants, revenue recognition, cost of goods sold, allocation of the purchase price of assets relating to business combinations and calculation of contingent consideration for acquisitions. Cash and Cash Equivalents, Restricted Cash Cash and cash equivalents consist of cash and deposits in bank checking accounts with immediate access and cash equivalents that represent highly liquid investments. Restricted cash represents escrowed cash related to the Sector 5 Digital, LLC (“S5D”) acquisition. The components of cash, cash equivalents and restricted cash on the consolidated statements of cash flows as of March 31, 2023 and 2022 are as follows: SCHEDULE OF COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of March 31, As of March 31, 2023 2022 Cash and cash equivalents $ 6,048,001 $ 18,043,040 Restricted cash 2,000,000 2,000,000 Total $ 8,048,001 $ 20,043,040 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 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 March 31, 2023 and June 30, 2022 no allowance for doubtful accounts was recorded as all amounts were considered collectible. Customer Concentration and Credit Risk Two customers accounted for approximately 32 21 11 61 32 16 13 49 28 21 59 42 17 Two customers accounted for approximately 26 14 12 59 37 22 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. 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. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. 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. Estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is typically one year from the acquisition date, if new information is obtained about facts and circumstances that existed as of the acquisition date, changes in the estimated values of the net assets recorded may change the amount of the purchase price allocated to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statement of operations. At times, the Company engages the assistance of valuation specialists in concluding on fair value measurements in connection with determining fair values of assets acquired and liabilities assumed in a business combination. Further, during the year ended June 30, 2022, the Company early adopted ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue from Contracts with a Customer THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Intangible assets (other than Goodwill) Intangibles represent the allocation of a portion of the acquisition’s purchase price (see Note 5). 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. The Company reviews intangibles, being amortized, for impairment when current events indicate that the fair value may be less than the carrying value. Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method. Goodwill is not amortized but instead is tested at least annually for impairment, or more frequently when events or changes in circumstances indicate that goodwill might be impaired. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: ● Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level 2 — inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or ● Level 3 — unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company classifies its cash equivalents and investments within Level 1 of the fair value hierarchy on the basis of valuations based on quoted prices for the specific securities in an active market. The Company’s contingent consideration is categorized as Level 3 within the fair value hierarchy. Contingent consideration is recorded within contingent consideration, current, and contingent consideration, non-current, in the Company’s consolidated balance sheets as of March 31, 2023 and June 30, 2022. Contingent consideration has been recorded at its fair values using unobservable inputs and have included using the Monte Carlo simulation option pricing framework, incorporating contractual terms and assumptions regarding financial forecasts, discount rates, and volatility of forecasted revenue. The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s management, with the assistance of a third-party valuation specialist. The Company’s other financial instruments consist primarily of accounts receivable, accounts payable, accrued liabilities and other liabilities, and approximate fair value due to the short-term nature of these instruments. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 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 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. A portion 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. Other contracts can include various services and products which are at times capable of being distinct, and therefore may be accounted for as separate performance obligations. 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. For distinct performance obligations recognized at a point in time, any unrecognized portion of revenue and any corresponding unrecognized expenses are presented as deferred revenue/contract liability and deferred costs/contract asset, respectively, in the accompanying consolidated balance sheets. Deferred costs/contract assets include cash and equity based payroll costs, and may include payments to consultants and vendors. For distinct performance obligations recognized over time, the Company records a contract asset (costs in excess of billings) when revenue is recognized prior to invoicing, or a contract liability (billings in excess of costs) when revenue is recognized subsequent to invoicing. 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. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Disaggregation of Revenue The Company generated revenue for the nine months ended March 31, 2023 and 2022 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. Revenue for a significant portion of Software Services projects and solutions (projects whereby, the development of the project leads to an identifiable asset with an alternative use to the Company) 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. Certain other Software Services revenues are custom project solutions (projects whereby, the development of the custom project leads to an identifiable asset with no alternative use to the Company, and, in which, the Company also has an enforceable right to payment under the contract) and are therefore recognized based on the percentage of completion using an input model with a master budget. The budget is reviewed periodically and percentage of completion adjusted accordingly. Revenue for Software Services consulting services and website maintenance is recognized when the Company performs the services, typically on a monthly retainer basis. Revenue for Software License is recognized at the point of time in which the Company delivers the software and customer accepts delivery. If there are significant 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 and nine months ended March 31, 2023 and 2022 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Products and services transferred at a point in time $ 2,957,634 $ 994,650 $ 8,195,906 $ 3,585,399 Products and services transferred/recognized over time 714,756 1,057,678 2,378,055 1,179,464 Total Revenue $ 3,672,390 $ 2,052,328 $ 10,573,961 $ 4,764,863 Remaining Performance Obligations Timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally records a receivable/contract asset when revenue is recognized prior to invoicing, or deferred revenue/contract liability when revenue is recognized subsequent to invoicing. For certain Software Services project contracts the Company 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 distinct performance obligation, and revenue is recognized upon completion, delivery and customer acceptance. Contracts 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 projects as separate distinct performance obligations and recognizes revenue upon the completion of each project or obligation, its delivery and customer acceptance. For contracts recognized over time, contract liabilities include billings invoiced for software projects for which the contract’s performance obligations are not complete. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 For certain other Software Services project contracts, the Company invoices customers for a substantial portion of the project upon entering into the contract due to their custom nature and revenue is recognized based upon percentage of completion. Revenue recognized subsequent to invoicing is recorded as a deferred revenue/contract liability (billings in excess of cost) and revenue recognized prior to invoicing is recorded as a deferred cost/contract asset (cost in excess of billings). 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 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 SaaS contracts, the Company generally invoices customers in advance at the beginning of the service term. For multi-period Software License contracts, the Company generally invoices customers annually at the beginning of each annual coverage period. Software License contracts consist of providing clients with software designed by the Company. For Software License contracts, there are generally no ongoing support obligations unless specified in the contract (becoming a Software Service). Unfulfilled performance obligations represent amounts expected to be earned by the Company on executed contracts. As of March 31, 2023, the Company had approximately $ 1.62 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. 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. 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 warrants. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Reclassifications Certain accounts in the prior period financial statements have been reclassified for comparative purposes to conform with the presentation in the current period financial statements. Recently Adopted Accounting Pronouncements Leases Adoption of the New Lease Accounting Standard On July 1, 2022, the Company adopted ASU No. 2016-02, Leases (Topic 842), using the modified retrospective transition method applied at the adoption date of the standard. Results for reporting periods beginning after July 1, 2022 are presented under the new leasing standard, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting. The Company has elected to utilize the package of practical expedients at the time of adoption, which allows the Company to (1) not reassess whether any expired or existing contracts are or contain leases, (2) not reassess the lease classification of any expired or existing leases, and (3) not reassess initial direct costs for any existing leases. The Company also has elected to utilize the short-term lease recognition exemption and, for those leases that qualified, the Company did not recognize right-of-use (“ROU”) assets or lease liabilities. As a result of adoption, the Company recorded ROU assets related to office facility leases which are recognized on the consolidated balance sheet and the associated lease liabilities are recognized on the consolidated balance sheet. The present value of the Company’s remaining lease payments, which comprise the lease liabilities, was estimated using an estimated incremental borrowing rate as of the adoption date. The adoption resulted in no adjustment to July 1, 2022 accumulated deficit on the consolidated balance sheet. As of July 1, 2022, the Company recorded right-of-use assets of $ 0.79 0.34 0.45 0.43 0.09 0.34 New Lease Accounting Policies The Company determines if an arrangement is a lease at inception and determines the classification of the lease, as either operating or finance, at commencement. For short-term leases with expected terms of less than one year, the Company does not recognize ROU assets or lease liabilities THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 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.

BUSINESS ACQUISITION AND ASSET

BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY	9 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY	NOTE 4. BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY Acquisition (“BLI”) On May 25, 2022, Glimpse entered into an Agreement and Plan of Merger (the “Merger Agreement”), with BLI and each of the equity holders of BLI named therein (collectively, the “Members”). BLI is an immersive technology company that provides VR and AR based training scenarios and simulations for commercial and government customers. The acquisition significantly expands the Company’s operating and financial scale, introduces new tier 1 customers specifically in the communication, entertainment and government segments, and bolsters the executive management team. In August 2022, BLI became a wholly-owned subsidiary of Glimpse. The aggregate consideration to the Members per the Agreement consisted of: (a) $ 568,046 505,787 1,926,167 714,286 24,500,000 24,500,000 12,000,000 7.00 The fair value allocation for the purchase price consideration paid at Closing (including subsequent post-closing adjustments) was recorded as follows: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION Purchase price consideration: Cash paid to members at Closing $ 2,494,213 Post-closing working capital adjustments (185,501 ) Company common stock fair value at Closing 2,846,144 Fair value of contingent consideration to be achieved 6,139,000 Total purchase price $ 11,293,856 Fair value allocation of purchase price: Cash and cash equivalents $ 15,560 Accounts receivable 253,041 Deferred costs/contract assets 552,625 Other assets 90,000 Equipment, net 55,580 Accounts payable and accrued expenses (848,079 ) Deferred revenue/contract liabilities (2,037,070 ) Intangible assets - customer relationships 3,310,000 Intangible assets - technology 880,000 Goodwill 9,022,199 Total fair value allocation of purchase price $ 11,293,856 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 The Company’s fair value estimate of the contingent consideration for the BLI acquisition was determined using a Monte Carlo simulation and other methods which account for the probabilities of various outcomes. The Company’s fair value estimate related to the identified intangible asset of customer relationships was determined using the Multi-Period Excess Earnings Method. This valuation method requires management to project revenues, customer attrition and cash flows for the reporting unit over a multiyear period, as well as determine the weighted average cost of capital to be used as a discount rate. The Company’s fair value estimate related to the identified intangible asset of technology was determined using the Relief from Royalty Method. This valuation method requires management to estimate the royalty rate based on market data for royalty arrangements involving similar technology, the obsolesce rate, and the weighted average cost of capital to be used as a discount rate. The goodwill recognized in connection with the acquisition is primarily attributable to new markets access and will be deductible for tax purposes. In accordance with GAAP, the fair value of the contingent consideration was remeasured at March 31, 2023, based on market conditions as of that date. The remeasurement resulted in a fair value amount at March 31, 2023 of $ 4.93 1.20 Unaudited Pro Forma Results The unaudited pro forma financial information in the table below summarizes the combined results of operations for the Company and BLI, as if the companies were combined for the nine months ended March 31, 2023. The unaudited pro forma financial information includes the business combination accounting effects resulting from this acquisition, including adjustments to reflect recognition of intangible asset amortization. The unaudited pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisitions had taken place at July 1, 2022. The approximate unaudited pro forma financial information if BLI was included since July 1, 2022 would be: SCHEDULE OF PROFORMA FINANCIAL INFORMATION For the Nine Months Ended March 31, 2023 Revenue $ 10,577,000 Net Loss $ (9,435,000 ) The pro forma net loss was adjusted to exclude approximately $ 0.28 1.20 Costs related to the acquisition, which include legal, accounting and valuation fees, in the amount of approximately $ 0.28 The Company recognized approximately $ 3.70 0.37 1.20 The BLI acquisition above was considered a business combination in accordance with GAAP. Asset Acquisition - Technology In November 2022, the Company entered into an assignment agreement with inciteVR (“IVR”), whereby the Company purchased the entire right, title and interest to certain VR/AR technology, as defined, to expand product offerings. The Company issued 71,430 325,000 325,000 Certain IVR owners became employees of Glimpse after the assignment. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 5. INTANGIBLE ASSETS Intangible assets, their respective amortization period, and accumulated amortization at March 31, 2023 are as follows: SCHEDULE OF INTANGIBLE ASSETS, AMORTIZATION PERIOD AND ACCUMULATED AMORTIZATION As of March 31, 2023 Value ($) Amortization Period (Years) XR Terra S5D PulpoAR BLI inciteVR Total Intangible Assets Customer Relationships $ - $ 2,820,000 $ - $ 3,310,000 $ - $ 6,130,000 3 5 Technology 300,000 - 925,000 880,000 326,435 2,431,435 3 Intangible Assets 300,000 - 925,000 880,000 326,435 2,431,435 3 Less: Accumulated Amortization (149,994 ) (658,000 ) (256,940 ) (636,890 ) (45,340 ) (1,747,164 ) Intangible Assets, net $ 150,006 $ 2,162,000 $ 668,060 $ 3,553,110 $ 281,095 $ 6,814,271 Intangible asset amortization expense for the three and nine months ended March 31, 2023 was approximately $ 0.55 1.54 Intangible asset amortization expense for the three and nine months ended March 31, 2022 was approximately $ 0.16 0.25 Estimated intangible asset amortization expense for the remaining lives are as follows: SCHEDULE OF INTANGIBLE ASSET AMORTIZATION EXPENSE Remaining Fiscal Year Ended June 30, 2023 $ 509,000 Fiscal Year Ended June 30, 2024 $ 2,036,000 Fiscal Year Ended June 30, 2025 $ 1,936,000 Fiscal Year Ended June 30, 2026 $ 1,287,000 Fiscal Year Ended June 30, 2027 $ 991,000 Fiscal Year Ended June 30, 2028 $ 55,000 AUGGD During the three months ended March 31, 2023, primarily due to a lack of market traction, a decision was made by the Company to cease the operations of its wholly owned subsidiary MotionZone, LLC (dba “AUGGD”) and divest any related assets and potential liabilities. The assets of AUGGD were originally acquired by the Company in August 2021. The assets of AUGGD were deemed worthless with no future benefit at March 31, 2023. The assets were transferred to a new independent entity, majority owned by the original sellers of AUGGD, in return for a 19.99 0 Accordingly, the net book value of intangible assets, including goodwill, originally recorded at the time of purchase of AUGGD, were written off as of March 31, 2023. The $ 0.48 0.11 0.12 0.25 For the three and nine months ended March 31, 2023, AUGGD had less than $ 0.01 0.09 0.40 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2023
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	NOTE 6. FINANCIAL INSTRUMENTS Cash and Cash Equivalents and Investments The Company’s money market funds and investments (short term, investment grade corporate bonds) are categorized as Level 1 within the fair value hierarchy. As of March 31, 2023 and June 30, 2022, the Company’s cash and cash equivalents and investments were as follows: SCHEDULE OF CASH AND CASH EQUIVALENTS AND INVESTMENTS As of March 31, 2023 Cost Unrealized Gain (Loss) Fair Value Cash and Cash Equivalents Investments Cash $ 1,370,129 $ - $ 1,370,129 Level 1: Money market funds 4,677,872 - $ 4,677,872 4,677,872 Total cash and cash equivalents $ 6,048,001 $ - $ 4,677,872 $ 6,048,001 Level 1: Investments $ 250,892 $ (3,381 ) $ 247,511 $ 247,511 As of June 30, 2022 Cost Unrealized Gain (Loss) Fair Value Cash and Cash Equivalents Investments Cash $ 1,233,608 $ - $ 1,233,608 Level 1: Money market funds 15,016,058 - $ 15,016,058 15,016,058 Total cash and cash equivalents $ 16,249,666 $ - $ 15,016,058 $ 16,249,666 Level 1: Investments $ 245,187 $ (5,873 ) $ 239,314 $ 239,314 Contingent Consideration As of March 31, 2023 and June 30, 2022, the Company’s contingent consideration liabilities related to acquisitions are categorized as Level 3 within the fair value hierarchy. Contingent consideration was valued at the time of acquisitions and at March 31, 2023 and June 30, 2022, using unobservable inputs and have included using the Monte Carlo simulation model. This model incorporates revenue volatility, internal rate of return, and risk-free rate. The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s management, with the assistance of a third-party valuation specialist. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 As of March 31, 2023, the Company’s contingent consideration liabilities current and non-current balances were as follows: SCHEDULE OF FAIR VALUE OF CONTINGENT CONSIDERATION As of March 31, 2023 Contingent Consideration at Purchase Date Consideration Paid Changes in Fair Value Fair Value Contingent Consideration Level 3: Contingent consideration, current - S5D $ 2,060,300 $ (623,300 ) $ 1,535,500 $ 2,972,500 $ 2,972,500 Contingent consideration, current - BLI 1,841,100 - (823,900 ) 1,017,200 1,017,200 Contingent consideration, current - XRT - (197,498 ) 331,786 134,288 134,288 Total contingent consideration, current portion $ 3,901,400 $ (820,798 ) $ 1,043,386 $ 4,123,988 $ 4,123,988 Level 3: Contingent consideration, non-current - S5D $ 7,108,900 $ (735,701 ) $ (3,770,799 ) $ 2,602,400 $ 2,602,400 Contingent consideration, non-current - BLI 4,297,900 - (380,500 ) 3,917,400 3,917,400 Total contingent consideration, net of current portion $ 11,406,800 $ (735,701 ) $ (4,151,299 ) $ 6,519,800 $ 6,519,800 A summary of the quantitative significant inputs used to value S5D’s contingent consideration as of March 31, 2023 was: $ 3.76 67.2 15.4 4.2 A summary of the quantitative significant inputs used to value BLI’s contingent consideration as of March 31, 2023 was: $ 3.76 77.4 15.6 4.0 The change in fair value of contingent consideration for S5D and BLI for the three and nine months ended March 31, 2023 was a non-cash expense of approximately $ 1.81 1.01 1.36 As of March 31, 2023, the Company’s contingent consideration liability related to XR Terra, LLC (“XRT”) is categorized as Level 3 within the fair value hierarchy as it is based on contractual amounts pursuant to the acquisition agreement, of which certain inputs are unobservable. The change in fair value of contingent consideration for XRT for the three and nine months ended March 31, 2023 was an expense of approximately $ 0.13 .33 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Goodwill of AUGGD, totaling $ 250,000 As of June 30, 2022, the Company’s contingent consideration liabilities current and non-current balances were as follows: As of June 30, 2022 Contingent Consideration at Purchase Date Changes in Fair Value Fair Value Contingent Consideration Level 3: Contingent consideration, current - S5D $ 2,060,300 $ (662,700 ) $ 1,397,600 $ 1,397,600 Contingent consideration, current - AUGGD - 568,571 568,571 568,571 Total contingent consideration, current $ 2,060,300 $ (94,129 ) $ 1,966,171 $ 1,966,171 Level 3: Contingent consideration, non-current - S5D $ 7,108,900 $ (1,768,100 ) $ 5,340,800 $ 5,340,800 3.98 60.1 15.1 3.0 As of June 30, 2022, the Company’s contingent consideration liability related to MotionZone, LLC (“AUGGD”) is categorized as Level 3 within the fair value hierarchy as it is based on contractual amounts pursuant to the acquisition agreement, of which certain inputs are unobservable. The was no

DEFERRED COSTS_CONTRACT ASSETS

DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES	9 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES	NOTE 7. DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES At March 31, 2023 and June 30, 2022, deferred costs/contract assets totaling $ 72,436 39,484 72,436 35,469 0 4,015 529,898 841,389 214,553 533,214 315,345 308,175 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 The following table shows the reconciliation of the costs in excess of billings and billings in excess of costs for contracts recognized over time: SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME As of Mar 31, 2023 Cost incurred on uncompleted contracts $ 65,845 Estimated earnings 210,311 Earned revenue 276,156 Less: billings to date 591,501 Billings in excess of costs, net $ (315,345 ) Balance Sheet Classification Contract assets includes, costs and estimated earnings in excess of billings on uncompleted contracts $ - Contract liabilities includes, billings in excess of costs and estimated earnings on uncompleted contracts (315,345 ) Billings in excess of costs, net $ (315,345 )

EQUITY

EQUITY	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
EQUITY	NOTE 8. 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 0.52 5 129 0.87 0 In conjunction with the IPO, outstanding convertible promissory notes totaling approximately $ 1.43 324,150 0.28 Securities Purchase Agreement (“SPA”) In November 2021, the Company sold $ 15.0 13.58 Under the terms of the SPA, the Company sold 1.50 0.75 10.00 14.63 0.56 five years 0.19 8.80 5 146 1.22 0 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Common Stock Issued Common stock issued for Business Acquisitions and Asset Acquisition - Technology During the nine months ended March 31, 2023, the Company issued approximately: 714,000 2.85 214,000 0.73 71,000 0.33 During the nine months ended March 31, 2022 the Company issued approximately 111,000 1.05 277,000 2.3 Common stock issued to satisfy contingent acquisition obligations During the nine months ended March 31, 2023 the Company issued approximately 327,000 1.36 107,000 0.32 0.57 0.25 36,000 0.20 During the nine months ended March 31, 2022 the Company issued 453,000 1.25 Common stock issued for Exercise of Stock Options During the nine months ended March 31, 2023 and 2022, the Company issued approximately 42,000 560,000 0.07 1.33 Common stock issued to Vendors During the nine months ended March 31, 2023 and 2022, the Company issued approximately 1,800 15,000 0.01 0.16 Common stock issued to Employees as Compensation During the nine months ended March 31, 2023 and 2022, the Company issued approximately 80,000 11,000 0.33 0.10 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Employee Stock-Based Compensation Stock Option issuance to Executives In February 2023, pursuant to the Equity Incentive Plan, the Company granted certain executive officers 2.2 7.00 0.2 four years Equity Incentive Plan The Company’s 2016 Equity Incentive Plan (the “Plan”), as amended, has approximately 11.3 2.1 The Company recognizes compensation expense relating to awards ratably over the requisite period, which is generally the vesting period. 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 STOCK OPTION FAIR VALUE ASSUMPTIONS 2023 2022 2023 2023 For the Three Months Ended March 31, For the Nine Months Ended March 31, 2023 2022 2023 2023 Weighted average expected terms (in years) 6.0 5.7 6.0 5.7 Weighted average expected volatility 100.7 % 232.7 % 100.8 % 205.6 % Weighted average risk-free interest rate 3.8 % 1.4 % 3.7 % 1.4 % Expected dividend yield 0.0 % 0.0 % 0.0 % 0.0 % The weighted average expected term (in years) excludes the executive Target Options. The grant date fair value, for options granted during the nine months ended March 31, 2023 and 2022 was approximately $ 15.2 0.90 8.08 7.98 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 The following is a summary of the Company’s stock option activity for the nine months ended March 31, 2023 and 2022: SUMMARY OF STOCK OPTION ACTIVITY Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2022 4,484,616 $ 4.68 7.0 $ 2,404,249 Options Granted 4,076,933 6.30 9.8 4,862 Options Exercised (94,932 ) 3.88 6.2 107,426 Options Forfeited / Cancelled (291,605 ) 7.87 8.7 16,208 Outstanding at March 31, 2023 8,175,012 $ 5.38 7.9 $ 2,005,800 Exercisable at March 31, 2023 3,677,049 $ 3.91 5.7 $ 2,005,800 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 836,141 9.68 9.8 2,276,040 Options Exercised (969,775 ) 2.90 7.5 (9,176,737 ) Options Forfeited / Cancelled (273,799 ) 4.98 7.7 (2,020,350 ) Outstanding at March 31, 2022 4,333,477 $ 4.63 8.9 $ 10,404,816 Exercisable at March 31, 2022 3,568,874 $ 3.59 8.7 $ 10,293,216 The intrinsic value of stock options at March 31, 2023 and 2022 was computed using a fair market value of the common stock of $ 3.76 6.39 The Company’s stock option-based expense for the three and nine months ended March 31, 2023 and 2022 consisted of the following: SCHEDULE OF STOCK OPTION-BASED EXPENSE 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Stock option-based expense : Research and development expenses $ 433,877 $ 448,321 $ 1,204,934 $ 1,053,829 General and administrative expenses 86,729 43,265 175,777 167,837 Sales and marketing expenses 238,180 160,657 558,461 401,496 Cost of goods sold - 4,348 755 48,506 Board option expense 85,752 156,298 379,319 334,603 Total $ 844,538 $ 812,889 $ 2,319,246 $ 2,006,271 Stock option-based expense attributable to the executive officers’ Initial Options for the three and nine months ended March 31, 2023 was approximately $ 0.03 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 At March 31, 2023 total unrecognized compensation expense to employees, board members and vendors related to stock options was approximately $ 17.89 0.87 8.08 1.48

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 9. EARNINGS PER SHARE The following table presents the computation of basic and diluted net income (loss) per common share: SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE For the Three Months Ended For the Nine Months Ended March 31, March 31, Numerator: 2023 2022 2023 2022 Net loss $ (5,222,598 ) $ (1,751,613 ) $ (9,296,960 ) $ (4,983,768 ) Denominator: Weighted-average common shares outstanding 13,783,241 12,604,315 13,727,595 11,386,679 Basic and diluted net loss per share $ (0.38 ) $ (0.14 ) $ (0.68 ) $ (0.44 ) 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 March 31, 2023 At March 31, 2022 Stock Options 8,175,012 4,333,477 Warrants 837,500 837,500 Total 9,012,512 5,170,977

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 10. RELATED PARTY TRANSACTIONS Augmented Reality Investments Pty Ltd (“ARI”) In March 2022, the Company lent to ARI, the entity from which the assets of AUGGD (see Notes 5 and 12) were bought, $ 0.25 The note bore interest at the rate of 1 The note and any accrued interest were extinguished in July 2022. See Note 11.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 11. COMMITMENTS AND CONTINGENCIES Lease Costs The Company made cash payments for all operating leases for the nine months ended March 31, 2023, of approximately $ 0.46 1.6 7.9 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 The Company made cash payments for all operating leases for the nine months ended March 31, 2022, of approximately $ 0.28 The total rent expense for all operating leases for the three and nine months ended March 31, 2023, was approximately $ 0.13 0.41 The total rent expense for all operating leases for the three and nine months ended March 31, 2022, was approximately $ 0.11 0.29 Lease Commitments The Company has various operating leases for its offices. These existing leases have remaining lease terms ranging from 1 to 4 years. Certain lease agreements contain options to renew, with renewal terms that generally extend the lease terms by 1 to 3 years for each option. The Company determined that none of its current leases are reasonably certain to renew Future approximate undiscounted lease payments for the Company’s operating lease liabilities and a reconciliation of these payments to its operating lease liabilities at March 31, 2023 are as follows: SCHEDULE OF UNDISCOUNTED LEASE PAYMENTS Years Ended June 30, 2023 (three months) $ 137,000 2024 497,000 2025 321,000 2026 117,000 Total future minimum lease commitments, including short-term leases 1,072,000 Less: future minimum lease payments of short -term leases (65,000 ) Less: imputed interest (86,000 ) Present value of future minimum lease payments, excluding short term leases $ 921,000 Current portion of operating lease liabilities $ 399,000 Non-current portion of operating lease liabilities 522,000 Total operating lease liability $ 921,000 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Contingent Consideration for Acquisitions Contingent consideration for acquisitions, consists of the following as of March 31, 2023 and June 30, 2022 respectively: SCHEDULE OF CONTINGENT CONSIDERATION FOR ACQUISITIONS As of March 31, As of June 30, 2023 2022 S5D, current portion $ 2,972,500 $ 1,397,600 BLI, current portion (see Note 4) 1,017,200 - AUGGD - 568,571 XRT 134,288 - Subtotal current portion 4,123,988 1,966,171 S5D, net of current portion 2,602,400 5,340,800 BLI, net of current portion (see Note 4) 3,917,400 - Total contingent consideration for acquisitions $ 10,643,788 $ 7,306,971 AUGGD In June 2022, AUGGD achieved its initial revenue threshold as defined in the asset acquisition agreement, and was issued shares of Company stock in July 2022 reflecting the payment of additional asset acquisition consideration. The share issuance was done inclusive of netting the outstanding balance of a $ 0.25 0.57 Potential Future Distributions Upon Divestiture or Sale Upon a divestiture or sale of certain subsidiary companies, the Company is contractually obligated to distribute up to 10 COVID-19 The COVID-19 pandemic caused significant business and financial markets disruption worldwide and there was significant uncertainty around the duration of this disruption. We continue to monitor the situation and the effects on our business and operations. While some level of potential uncertainty remains, given the current state of the pandemic, we do not expect the impact of COVID-19 to be material to our business and operations.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 12. SUBSEQUENT EVENTS AUGGD As more fully described in Note 5, on April 1, 2023 the Company executed the amendment to the asset purchase agreement for the purchase of AUGGD whereby the Company divested the assets of AUGGD and assigned those assets to a new entity, of which the Company has a 19.99

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2023
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 SEC. 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 March 31, 2023, the results of operations for the three and nine months ended March 31, 2023 and 2022, and cash flows for the nine months ended March 31, 2023 and 2022. 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 and nine months ended March 31, 2023 are not necessarily indicative of the results to be expected for the entire year ending June 30, 2023 or for any subsequent periods. The consolidated balance sheet at June 30, 2022 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, 2022.
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, stock options, warrants, revenue recognition, cost of goods sold, allocation of the purchase price of assets relating to business combinations and calculation of contingent consideration for acquisitions.
Cash and Cash Equivalents, Restricted Cash	Cash and Cash Equivalents, Restricted Cash Cash and cash equivalents consist of cash and deposits in bank checking accounts with immediate access and cash equivalents that represent highly liquid investments. Restricted cash represents escrowed cash related to the Sector 5 Digital, LLC (“S5D”) acquisition. The components of cash, cash equivalents and restricted cash on the consolidated statements of cash flows as of March 31, 2023 and 2022 are as follows: SCHEDULE OF COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of March 31, As of March 31, 2023 2022 Cash and cash equivalents $ 6,048,001 $ 18,043,040 Restricted cash 2,000,000 2,000,000 Total $ 8,048,001 $ 20,043,040 THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022
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 March 31, 2023 and June 30, 2022 no allowance for doubtful accounts was recorded as all amounts were considered collectible.
Customer Concentration and Credit Risk	Customer Concentration and Credit Risk Two customers accounted for approximately 32 21 11 61 32 16 13 49 28 21 59 42 17 Two customers accounted for approximately 26 14 12 59 37 22 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.
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. Acquisition-related expenses are recognized separately from the business combination and are expensed as incurred. 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. Estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, which is typically one year from the acquisition date, if new information is obtained about facts and circumstances that existed as of the acquisition date, changes in the estimated values of the net assets recorded may change the amount of the purchase price allocated to goodwill. Upon the conclusion of the measurement period, any subsequent adjustments are recorded in the consolidated statement of operations. At times, the Company engages the assistance of valuation specialists in concluding on fair value measurements in connection with determining fair values of assets acquired and liabilities assumed in a business combination. Further, during the year ended June 30, 2022, the Company early adopted ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue from Contracts with a Customer THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022
Intangible assets (other than Goodwill)	Intangible assets (other than Goodwill) Intangibles represent the allocation of a portion of the acquisition’s purchase price (see Note 5). 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. The Company reviews intangibles, being amortized, for impairment when current events indicate that the fair value may be less than the carrying value.
Goodwill	Goodwill Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method. Goodwill is not amortized but instead is tested at least annually for impairment, or more frequently when events or changes in circumstances indicate that goodwill might be impaired.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy, which is based on three levels of inputs, the first two of which are considered observable and the last unobservable, that may be used to measure fair value, is as follows: ● Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level 2 — inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; or ● Level 3 — unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company classifies its cash equivalents and investments within Level 1 of the fair value hierarchy on the basis of valuations based on quoted prices for the specific securities in an active market. The Company’s contingent consideration is categorized as Level 3 within the fair value hierarchy. Contingent consideration is recorded within contingent consideration, current, and contingent consideration, non-current, in the Company’s consolidated balance sheets as of March 31, 2023 and June 30, 2022. Contingent consideration has been recorded at its fair values using unobservable inputs and have included using the Monte Carlo simulation option pricing framework, incorporating contractual terms and assumptions regarding financial forecasts, discount rates, and volatility of forecasted revenue. The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s management, with the assistance of a third-party valuation specialist. The Company’s other financial instruments consist primarily of accounts receivable, accounts payable, accrued liabilities and other liabilities, and approximate fair value due to the short-term nature of these instruments. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022
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 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. A portion 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. Other contracts can include various services and products which are at times capable of being distinct, and therefore may be accounted for as separate performance obligations. 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. For distinct performance obligations recognized at a point in time, any unrecognized portion of revenue and any corresponding unrecognized expenses are presented as deferred revenue/contract liability and deferred costs/contract asset, respectively, in the accompanying consolidated balance sheets. Deferred costs/contract assets include cash and equity based payroll costs, and may include payments to consultants and vendors. For distinct performance obligations recognized over time, the Company records a contract asset (costs in excess of billings) when revenue is recognized prior to invoicing, or a contract liability (billings in excess of costs) when revenue is recognized subsequent to invoicing. 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. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 Disaggregation of Revenue The Company generated revenue for the nine months ended March 31, 2023 and 2022 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. Revenue for a significant portion of Software Services projects and solutions (projects whereby, the development of the project leads to an identifiable asset with an alternative use to the Company) 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. Certain other Software Services revenues are custom project solutions (projects whereby, the development of the custom project leads to an identifiable asset with no alternative use to the Company, and, in which, the Company also has an enforceable right to payment under the contract) and are therefore recognized based on the percentage of completion using an input model with a master budget. The budget is reviewed periodically and percentage of completion adjusted accordingly. Revenue for Software Services consulting services and website maintenance is recognized when the Company performs the services, typically on a monthly retainer basis. Revenue for Software License is recognized at the point of time in which the Company delivers the software and customer accepts delivery. If there are significant 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 and nine months ended March 31, 2023 and 2022 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Products and services transferred at a point in time $ 2,957,634 $ 994,650 $ 8,195,906 $ 3,585,399 Products and services transferred/recognized over time 714,756 1,057,678 2,378,055 1,179,464 Total Revenue $ 3,672,390 $ 2,052,328 $ 10,573,961 $ 4,764,863 Remaining Performance Obligations Timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally records a receivable/contract asset when revenue is recognized prior to invoicing, or deferred revenue/contract liability when revenue is recognized subsequent to invoicing. For certain Software Services project contracts the Company 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 distinct performance obligation, and revenue is recognized upon completion, delivery and customer acceptance. Contracts 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 projects as separate distinct performance obligations and recognizes revenue upon the completion of each project or obligation, its delivery and customer acceptance. For contracts recognized over time, contract liabilities include billings invoiced for software projects for which the contract’s performance obligations are not complete. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022 For certain other Software Services project contracts, the Company invoices customers for a substantial portion of the project upon entering into the contract due to their custom nature and revenue is recognized based upon percentage of completion. Revenue recognized subsequent to invoicing is recorded as a deferred revenue/contract liability (billings in excess of cost) and revenue recognized prior to invoicing is recorded as a deferred cost/contract asset (cost in excess of billings). 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 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 SaaS contracts, the Company generally invoices customers in advance at the beginning of the service term. For multi-period Software License contracts, the Company generally invoices customers annually at the beginning of each annual coverage period. Software License contracts consist of providing clients with software designed by the Company. For Software License contracts, there are generally no ongoing support obligations unless specified in the contract (becoming a Software Service). Unfulfilled performance obligations represent amounts expected to be earned by the Company on executed contracts. As of March 31, 2023, the Company had approximately $ 1.62
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. 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.
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 warrants. THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022
Reclassifications	Reclassifications Certain accounts in the prior period financial statements have been reclassified for comparative purposes to conform with the presentation in the current period financial statements.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Leases Adoption of the New Lease Accounting Standard On July 1, 2022, the Company adopted ASU No. 2016-02, Leases (Topic 842), using the modified retrospective transition method applied at the adoption date of the standard. Results for reporting periods beginning after July 1, 2022 are presented under the new leasing standard, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historic accounting. The Company has elected to utilize the package of practical expedients at the time of adoption, which allows the Company to (1) not reassess whether any expired or existing contracts are or contain leases, (2) not reassess the lease classification of any expired or existing leases, and (3) not reassess initial direct costs for any existing leases. The Company also has elected to utilize the short-term lease recognition exemption and, for those leases that qualified, the Company did not recognize right-of-use (“ROU”) assets or lease liabilities. As a result of adoption, the Company recorded ROU assets related to office facility leases which are recognized on the consolidated balance sheet and the associated lease liabilities are recognized on the consolidated balance sheet. The present value of the Company’s remaining lease payments, which comprise the lease liabilities, was estimated using an estimated incremental borrowing rate as of the adoption date. The adoption resulted in no adjustment to July 1, 2022 accumulated deficit on the consolidated balance sheet. As of July 1, 2022, the Company recorded right-of-use assets of $ 0.79 0.34 0.45 0.43 0.09 0.34 New Lease Accounting Policies The Company determines if an arrangement is a lease at inception and determines the classification of the lease, as either operating or finance, at commencement. For short-term leases with expected terms of less than one year, the Company does not recognize ROU assets or lease liabilities THE GLIMPSE GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2023 AND 2022
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)	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
SCHEDULE OF COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH	The components of cash, cash equivalents and restricted cash on the consolidated statements of cash flows as of March 31, 2023 and 2022 are as follows: SCHEDULE OF COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH As of March 31, As of March 31, 2023 2022 Cash and cash equivalents $ 6,048,001 $ 18,043,040 Restricted cash 2,000,000 2,000,000 Total $ 8,048,001 $ 20,043,040
SCHEDULE OF TIMING REVENUE RECOGNITION	The timing of revenue recognition for the three and nine months ended March 31, 2023 and 2022 was as follows: SCHEDULE OF TIMING REVENUE RECOGNITION 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Products and services transferred at a point in time $ 2,957,634 $ 994,650 $ 8,195,906 $ 3,585,399 Products and services transferred/recognized over time 714,756 1,057,678 2,378,055 1,179,464 Total Revenue $ 3,672,390 $ 2,052,328 $ 10,573,961 $ 4,764,863

BUSINESS ACQUISITION AND ASSE_2

BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY (Tables) - Sector Five Digital L L C [Member]	9 Months Ended
	Mar. 31, 2023
Business Acquisition [Line Items]
SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION	The fair value allocation for the purchase price consideration paid at Closing (including subsequent post-closing adjustments) was recorded as follows: SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION Purchase price consideration: Cash paid to members at Closing $ 2,494,213 Post-closing working capital adjustments (185,501 ) Company common stock fair value at Closing 2,846,144 Fair value of contingent consideration to be achieved 6,139,000 Total purchase price $ 11,293,856 Fair value allocation of purchase price: Cash and cash equivalents $ 15,560 Accounts receivable 253,041 Deferred costs/contract assets 552,625 Other assets 90,000 Equipment, net 55,580 Accounts payable and accrued expenses (848,079 ) Deferred revenue/contract liabilities (2,037,070 ) Intangible assets - customer relationships 3,310,000 Intangible assets - technology 880,000 Goodwill 9,022,199 Total fair value allocation of purchase price $ 11,293,856
SCHEDULE OF PROFORMA FINANCIAL INFORMATION	The approximate unaudited pro forma financial information if BLI was included since July 1, 2022 would be: SCHEDULE OF PROFORMA FINANCIAL INFORMATION For the Nine Months Ended March 31, 2023 Revenue $ 10,577,000 Net Loss $ (9,435,000 )

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS, AMORTIZATION PERIOD AND ACCUMULATED AMORTIZATION	Intangible assets, their respective amortization period, and accumulated amortization at March 31, 2023 are as follows: SCHEDULE OF INTANGIBLE ASSETS, AMORTIZATION PERIOD AND ACCUMULATED AMORTIZATION As of March 31, 2023 Value ($) Amortization Period (Years) XR Terra S5D PulpoAR BLI inciteVR Total Intangible Assets Customer Relationships $ - $ 2,820,000 $ - $ 3,310,000 $ - $ 6,130,000 3 5 Technology 300,000 - 925,000 880,000 326,435 2,431,435 3 Intangible Assets 300,000 - 925,000 880,000 326,435 2,431,435 3 Less: Accumulated Amortization (149,994 ) (658,000 ) (256,940 ) (636,890 ) (45,340 ) (1,747,164 ) Intangible Assets, net $ 150,006 $ 2,162,000 $ 668,060 $ 3,553,110 $ 281,095 $ 6,814,271
SCHEDULE OF INTANGIBLE ASSET AMORTIZATION EXPENSE	Estimated intangible asset amortization expense for the remaining lives are as follows: SCHEDULE OF INTANGIBLE ASSET AMORTIZATION EXPENSE Remaining Fiscal Year Ended June 30, 2023 $ 509,000 Fiscal Year Ended June 30, 2024 $ 2,036,000 Fiscal Year Ended June 30, 2025 $ 1,936,000 Fiscal Year Ended June 30, 2026 $ 1,287,000 Fiscal Year Ended June 30, 2027 $ 991,000 Fiscal Year Ended June 30, 2028 $ 55,000

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2023
Investments, All Other Investments [Abstract]
SCHEDULE OF CASH AND CASH EQUIVALENTS AND INVESTMENTS	SCHEDULE OF CASH AND CASH EQUIVALENTS AND INVESTMENTS As of March 31, 2023 Cost Unrealized Gain (Loss) Fair Value Cash and Cash Equivalents Investments Cash $ 1,370,129 $ - $ 1,370,129 Level 1: Money market funds 4,677,872 - $ 4,677,872 4,677,872 Total cash and cash equivalents $ 6,048,001 $ - $ 4,677,872 $ 6,048,001 Level 1: Investments $ 250,892 $ (3,381 ) $ 247,511 $ 247,511 As of June 30, 2022 Cost Unrealized Gain (Loss) Fair Value Cash and Cash Equivalents Investments Cash $ 1,233,608 $ - $ 1,233,608 Level 1: Money market funds 15,016,058 - $ 15,016,058 15,016,058 Total cash and cash equivalents $ 16,249,666 $ - $ 15,016,058 $ 16,249,666 Level 1: Investments $ 245,187 $ (5,873 ) $ 239,314 $ 239,314
SCHEDULE OF FAIR VALUE OF CONTINGENT CONSIDERATION	As of March 31, 2023, the Company’s contingent consideration liabilities current and non-current balances were as follows: SCHEDULE OF FAIR VALUE OF CONTINGENT CONSIDERATION As of March 31, 2023 Contingent Consideration at Purchase Date Consideration Paid Changes in Fair Value Fair Value Contingent Consideration Level 3: Contingent consideration, current - S5D $ 2,060,300 $ (623,300 ) $ 1,535,500 $ 2,972,500 $ 2,972,500 Contingent consideration, current - BLI 1,841,100 - (823,900 ) 1,017,200 1,017,200 Contingent consideration, current - XRT - (197,498 ) 331,786 134,288 134,288 Total contingent consideration, current portion $ 3,901,400 $ (820,798 ) $ 1,043,386 $ 4,123,988 $ 4,123,988 Level 3: Contingent consideration, non-current - S5D $ 7,108,900 $ (735,701 ) $ (3,770,799 ) $ 2,602,400 $ 2,602,400 Contingent consideration, non-current - BLI 4,297,900 - (380,500 ) 3,917,400 3,917,400 Total contingent consideration, net of current portion $ 11,406,800 $ (735,701 ) $ (4,151,299 ) $ 6,519,800 $ 6,519,800 As of June 30, 2022 Contingent Consideration at Purchase Date Changes in Fair Value Fair Value Contingent Consideration Level 3: Contingent consideration, current - S5D $ 2,060,300 $ (662,700 ) $ 1,397,600 $ 1,397,600 Contingent consideration, current - AUGGD - 568,571 568,571 568,571 Total contingent consideration, current $ 2,060,300 $ (94,129 ) $ 1,966,171 $ 1,966,171 Level 3: Contingent consideration, non-current - S5D $ 7,108,900 $ (1,768,100 ) $ 5,340,800 $ 5,340,800

DEFERRED COSTS_CONTRACT ASSET_2

DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES (Tables)	9 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME	The following table shows the reconciliation of the costs in excess of billings and billings in excess of costs for contracts recognized over time: SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME As of Mar 31, 2023 Cost incurred on uncompleted contracts $ 65,845 Estimated earnings 210,311 Earned revenue 276,156 Less: billings to date 591,501 Billings in excess of costs, net $ (315,345 ) Balance Sheet Classification Contract assets includes, costs and estimated earnings in excess of billings on uncompleted contracts $ - Contract liabilities includes, billings in excess of costs and estimated earnings on uncompleted contracts (315,345 ) Billings in excess of costs, net $ (315,345 )

EQUITY (Tables)

EQUITY (Tables)	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
SCHEDULE OF STOCK OPTION FAIR VALUE 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 STOCK OPTION FAIR VALUE ASSUMPTIONS 2023 2022 2023 2023 For the Three Months Ended March 31, For the Nine Months Ended March 31, 2023 2022 2023 2023 Weighted average expected terms (in years) 6.0 5.7 6.0 5.7 Weighted average expected volatility 100.7 % 232.7 % 100.8 % 205.6 % Weighted average risk-free interest rate 3.8 % 1.4 % 3.7 % 1.4 % Expected dividend yield 0.0 % 0.0 % 0.0 % 0.0 %
SUMMARY OF STOCK OPTION ACTIVITY	The following is a summary of the Company’s stock option activity for the nine months ended March 31, 2023 and 2022: SUMMARY OF STOCK OPTION ACTIVITY Weighted Average Remaining Exercise Contractual Intrinsic Options Price Term (Yrs) Value Outstanding at July 1, 2022 4,484,616 $ 4.68 7.0 $ 2,404,249 Options Granted 4,076,933 6.30 9.8 4,862 Options Exercised (94,932 ) 3.88 6.2 107,426 Options Forfeited / Cancelled (291,605 ) 7.87 8.7 16,208 Outstanding at March 31, 2023 8,175,012 $ 5.38 7.9 $ 2,005,800 Exercisable at March 31, 2023 3,677,049 $ 3.91 5.7 $ 2,005,800 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 836,141 9.68 9.8 2,276,040 Options Exercised (969,775 ) 2.90 7.5 (9,176,737 ) Options Forfeited / Cancelled (273,799 ) 4.98 7.7 (2,020,350 ) Outstanding at March 31, 2022 4,333,477 $ 4.63 8.9 $ 10,404,816 Exercisable at March 31, 2022 3,568,874 $ 3.59 8.7 $ 10,293,216
SCHEDULE OF STOCK OPTION-BASED EXPENSE	The Company’s stock option-based expense for the three and nine months ended March 31, 2023 and 2022 consisted of the following: SCHEDULE OF STOCK OPTION-BASED EXPENSE 2023 2022 2023 2022 For the Three Months Ended For the Nine Months Ended March 31, March 31, 2023 2022 2023 2022 Stock option-based expense : Research and development expenses $ 433,877 $ 448,321 $ 1,204,934 $ 1,053,829 General and administrative expenses 86,729 43,265 175,777 167,837 Sales and marketing expenses 238,180 160,657 558,461 401,496 Cost of goods sold - 4,348 755 48,506 Board option expense 85,752 156,298 379,319 334,603 Total $ 844,538 $ 812,889 $ 2,319,246 $ 2,006,271

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Mar. 31, 2023
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 income (loss) per common share: SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE For the Three Months Ended For the Nine Months Ended March 31, March 31, Numerator: 2023 2022 2023 2022 Net loss $ (5,222,598 ) $ (1,751,613 ) $ (9,296,960 ) $ (4,983,768 ) Denominator: Weighted-average common shares outstanding 13,783,241 12,604,315 13,727,595 11,386,679 Basic and diluted net loss per share $ (0.38 ) $ (0.14 ) $ (0.68 ) $ (0.44 )
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 March 31, 2023 At March 31, 2022 Stock Options 8,175,012 4,333,477 Warrants 837,500 837,500 Total 9,012,512 5,170,977

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF UNDISCOUNTED LEASE PAYMENTS	Future approximate undiscounted lease payments for the Company’s operating lease liabilities and a reconciliation of these payments to its operating lease liabilities at March 31, 2023 are as follows: SCHEDULE OF UNDISCOUNTED LEASE PAYMENTS Years Ended June 30, 2023 (three months) $ 137,000 2024 497,000 2025 321,000 2026 117,000 Total future minimum lease commitments, including short-term leases 1,072,000 Less: future minimum lease payments of short -term leases (65,000 ) Less: imputed interest (86,000 ) Present value of future minimum lease payments, excluding short term leases $ 921,000 Current portion of operating lease liabilities $ 399,000 Non-current portion of operating lease liabilities 522,000 Total operating lease liability $ 921,000
SCHEDULE OF CONTINGENT CONSIDERATION FOR ACQUISITIONS	Contingent consideration for acquisitions, consists of the following as of March 31, 2023 and June 30, 2022 respectively: SCHEDULE OF CONTINGENT CONSIDERATION FOR ACQUISITIONS As of March 31, As of June 30, 2023 2022 S5D, current portion $ 2,972,500 $ 1,397,600 BLI, current portion (see Note 4) 1,017,200 - AUGGD - 568,571 XRT 134,288 - Subtotal current portion 4,123,988 1,966,171 S5D, net of current portion 2,602,400 5,340,800 BLI, net of current portion (see Note 4) 3,917,400 - Total contingent consideration for acquisitions $ 10,643,788 $ 7,306,971

LIQUIDITY AND CAPITAL RESOURC_2

LIQUIDITY AND CAPITAL RESOURCES (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Oct. 28, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Net loss		$ 5,222,598	$ 1,751,613	$ 9,296,960	$ 4,983,768
Workforce reduction percentage		10%		10%
Cash equivalents		$ 5,500,000		$ 5,500,000
Escrow deposit		2,000,000		2,000,000
Cash requirements		$ 1,500,000		$ 1,500,000
Proceeds from issuance or sale of equity	$ 100,000,000
Executive Officer [Member] | Minimum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Cash salary reduction percentage		20%		20%
Executive Officer [Member] | Maximum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Cash salary reduction percentage		25%		25%
Employees [Member] | Minimum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Cash salary reduction percentage		10%		10%
Employees [Member] | Maximum [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Cash salary reduction percentage		20%		20%

SCHEDULE OF COMPONENTS OF CASH,

SCHEDULE OF COMPONENTS OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 6,048,001	$ 16,249,666	$ 18,043,040
Restricted cash	2,000,000		2,000,000
Total	$ 8,048,001		$ 20,043,040

SCHEDULE OF TIMING REVENUE RECO

SCHEDULE OF TIMING REVENUE RECOGNITION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenue	$ 3,672,390	$ 2,052,328	$ 10,573,961	$ 4,764,863
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,957,634	994,650	8,195,906	3,585,399
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 714,756	$ 1,057,678	$ 2,378,055	$ 1,179,464

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022	Aug. 01, 2022	Jul. 01, 2022
Product Information [Line Items]
Revenue remaining performance obligation	$ 1,620,000		$ 1,620,000
Operating lease, right-of-use asset	936,338		936,338			$ 430,000	$ 790,000
Operating lease liability current	399,424		399,424			90,000	340,000
Operating lease, liability, noncurrent	$ 521,855		$ 521,855			$ 340,000	$ 450,000
Lessee operating lease description			For short-term leases with expected terms of less than one year, the Company does not recognize ROU assets or lease liabilities
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Product Information [Line Items]
Concentration risk percentage	32%		49%	59%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Product Information [Line Items]
Concentration risk percentage	21%	32%	28%	42%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Product Information [Line Items]
Concentration risk percentage	11%	16%	21%	17%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Three Customers [Member]
Product Information [Line Items]
Concentration risk percentage		61%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer Three [Member]
Product Information [Line Items]
Concentration risk percentage		13%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Product Information [Line Items]
Concentration risk percentage			26%		59%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Product Information [Line Items]
Concentration risk percentage			14%		37%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer Two [Member]
Product Information [Line Items]
Concentration risk percentage			12%		22%

SCHEDULE OF BUSINESS ACQUISITIO

SCHEDULE OF BUSINESS ACQUISITION PURCHASE PRICE CONSIDERATION (Details) - USD ($)	Aug. 01, 2022	Mar. 31, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Intangible assets - customer relationships		$ 325,000
Goodwill		$ 22,306,959	$ 13,464,760
Merger Agreement [Member] | Brightline Interactive, LLC [Member]
Business Acquisition [Line Items]
Cash paid to members at Closing	$ 2,494,213
Post-closing working capital adjustments	(185,501)
Company common stock fair value at Closing	2,846,144
Fair value of contingent consideration to be achieved	6,139,000
Total purchase price	11,293,856
Cash and cash equivalents	15,560
Accounts receivables	253,041
Deferred costs contract assets	552,625
Other assets	90,000
Equipment, net	55,580
Accounts payable and accrued expenses	(848,079)
Deferred revenue contract liabilities	(2,037,070)
Intangible assets - customer relationships	3,310,000
Intangible assets - customer relationships	880,000
Goodwill	9,022,199
Total fair value allocation of purchase price	$ 11,293,856

SCHEDULE OF PROFORMA FINANCIAL

SCHEDULE OF PROFORMA FINANCIAL INFORMATION (Details)	9 Months Ended
	Mar. 31, 2023 USD ($)
Business Combination and Asset Acquisition [Abstract]
Revenue	$ 10,577,000
Net Loss	$ (9,435,000)

BUSINESS ACQUISITION AND ASSE_3

BUSINESS ACQUISITION AND ASSET ACQUISTION - TECHNOLGY (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended		8 Months Ended	9 Months Ended
	Aug. 01, 2022	Nov. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Change in fair value of acquisition contingent consideration			$ (1,947,989)			$ 677,113
Net loss			(5,222,598)	$ (1,751,613)		(9,296,960)	(4,983,768)
Value issued							$ 11,821,364
Intangible assets technology			$ 325,000		$ 325,000	325,000
Brightline Interactive, LLC [Member]
Business Acquisition [Line Items]
Revenues					3,700,000
Net loss					370,000
Inclusive of contingent consideration fair value adjustment gain					$ 1,200,000
Merger Agreement [Member] | Brightline Interactive, LLC [Member]
Business Acquisition [Line Items]
Payment to acquire business	$ 568,046
Working capital	$ 505,787
Shares issued for acquisition, shares	714,286
Share price	$ 7
Intangible assets technology	$ 880,000
Merger Agreement [Member] | Brightline Interactive, LLC [Member] | Maximum [Member]
Business Acquisition [Line Items]
Purchase price considerations payable	24,500,000
Payment for contingent liability	12,000,000
Merger Agreement [Member] | Brightline Interactive, LLC [Member] | Debt [Member]
Business Acquisition [Line Items]
Payment to acquire business	$ 1,926,167
Membership Interest Sale Agreement [Member] | Sector 5 Digital, LLC [Member]
Business Acquisition [Line Items]
Fair value of asset acquired						4,930,000
Reduction of asset acquired						1,200,000
Business combination, acquisition related costs						280,000
Change in fair value of acquisition contingent consideration						1,200,000
Membership Interest Sale Agreement [Member] | Sector 5 Digital, LLC [Member] | General and Administrative Expense [Member]
Business Acquisition [Line Items]
Business combination, acquisition related costs						$ 280,000
Assignment Agreement [Member]
Business Acquisition [Line Items]
Shares issued		71,430
Value issued		$ 325,000

SCHEDULE OF INTANGIBLE ASSETS,

SCHEDULE OF INTANGIBLE ASSETS, AMORTIZATION PERIOD AND ACCUMULATED AMORTIZATION (Details)	Mar. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	$ (1,747,164)
Intangible Assets, net	6,814,271
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	$ 6,130,000
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	3 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization period	5 years
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	$ 2,431,435
Intangible assets amortization period	3 years
XR Terra, LLC. [Member]
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	$ (149,994)
Intangible Assets, net	150,006
XR Terra, LLC. [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets
XR Terra, LLC. [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	300,000
Sector 5 Digital [Member]
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	(658,000)
Intangible Assets, net	2,162,000
Sector 5 Digital [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	2,820,000
Sector 5 Digital [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets
PulpoAR, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	(256,940)
Intangible Assets, net	668,060
PulpoAR, LLC [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets
PulpoAR, LLC [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	925,000
Brightline Interactive, LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	(636,890)
Intangible Assets, net	3,553,110
Brightline Interactive, LLC [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	3,310,000
Brightline Interactive, LLC [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	880,000
Incite VR [Member]
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated Amortization	(45,340)
Intangible Assets, net	281,095
Incite VR [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets
Incite VR [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible Assets	$ 326,435

SCHEDULE OF INTANGIBLE ASSET AM

SCHEDULE OF INTANGIBLE ASSET AMORTIZATION EXPENSE (Details)	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining Fiscal Year Ended June 30, 2023	$ 509,000
Fiscal Year Ended June 30, 2024	2,036,000
Fiscal Year Ended June 30, 2025	1,936,000
Fiscal Year Ended June 30, 2026	1,287,000
Fiscal Year Ended June 30, 2027	991,000
Fiscal Year Ended June 30, 2028	$ 55,000

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ 550,786	$ 160,663	$ 1,536,467	$ 248,158
Motion Zone LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Investment at cost	0		0
Intangible assets written off	480,000		480,000
Intangible asset impairment	250,000		250,000
Revenue	10,000		10,000
Expenses	90,000		400,000
Motion Zone LLC [Member] | Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets written off	110,000		110,000
Motion Zone LLC [Member] | Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets written off	$ 120,000		$ 120,000
Motion Zone LLC [Member]
Finite-Lived Intangible Assets [Line Items]
Ownership percentage	19.99%		19.99%

SCHEDULE OF CASH AND CASH EQUIV

SCHEDULE OF CASH AND CASH EQUIVALENTS AND INVESTMENTS (Details) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Cash and Cash Equivalents	$ 6,048,001	$ 16,249,666	$ 18,043,040
Cash [Member]
Impairment Effects on Earnings Per Share [Line Items]
Cost	1,370,129	1,233,608
Cash and Cash Equivalents	1,370,129	1,233,608
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Impairment Effects on Earnings Per Share [Line Items]
Cost	4,677,872	15,016,058
Cash and Cash Equivalents	4,677,872	15,016,058
Fair Value	4,677,872	15,016,058
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Impairment Effects on Earnings Per Share [Line Items]
Cost	6,048,001	16,249,666
Cash and Cash Equivalents	6,048,001	16,249,666
Fair Value	4,677,872	15,016,058
Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Impairment Effects on Earnings Per Share [Line Items]
Cost	250,892	245,187
Fair Value	247,511	239,314
Unrealized Gain (Loss)	(3,381)	(5,873)
Investments	$ 247,511	$ 239,314

SCHEDULE OF FAIR VALUE OF CONTI

SCHEDULE OF FAIR VALUE OF CONTINGENT CONSIDERATION (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	$ 4,123,988	$ 1,966,171
Contingent consideration, non-current - S5D	6,519,800
Sector 5 Digital, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	2,972,500	1,397,600
Contingent consideration, non-current - S5D	2,602,400	5,340,800
Brightline Interactive, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	1,017,200
Contingent consideration, non-current - S5D	3,917,400
XR Terra, LLC. [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	134,288
AUGGD [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current		568,571
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	3,901,400	2,060,300
Contingent consideration, non-current - S5D	11,406,800
Estimate of Fair Value Measurement [Member] | Sector 5 Digital, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	2,060,300	2,060,300
Contingent consideration, non-current - S5D	7,108,900	7,108,900
Estimate of Fair Value Measurement [Member] | Brightline Interactive, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	1,841,100
Contingent consideration, non-current - S5D	4,297,900
Estimate of Fair Value Measurement [Member] | XR Terra, LLC. [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current
Estimate of Fair Value Measurement [Member] | AUGGD [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current
Portion at Other than Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	(820,798)
Contingent consideration, non-current - S5D	(735,701)
Portion at Other than Fair Value Measurement [Member] | Sector 5 Digital, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	(623,300)
Contingent consideration, non-current - S5D	(735,701)
Portion at Other than Fair Value Measurement [Member] | Brightline Interactive, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current
Contingent consideration, non-current - S5D
Portion at Other than Fair Value Measurement [Member] | XR Terra, LLC. [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	(197,498)
Changes Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	1,043,386	(94,129)
Contingent consideration, non-current - S5D	(4,151,299)
Changes Measurement [Member] | Sector 5 Digital, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	1,535,500	(662,700)
Contingent consideration, non-current - S5D	(3,770,799)	(1,768,100)
Changes Measurement [Member] | Brightline Interactive, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	(823,900)
Contingent consideration, non-current - S5D	(380,500)
Changes Measurement [Member] | XR Terra, LLC. [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	331,786
Changes Measurement [Member] | AUGGD [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current		568,571
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	4,123,988	1,966,171
Contingent consideration, non-current - S5D	6,519,800
Reported Value Measurement [Member] | Sector 5 Digital, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	2,972,500	1,397,600
Contingent consideration, non-current - S5D	2,602,400	5,340,800
Reported Value Measurement [Member] | Brightline Interactive, LLC [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	1,017,200
Contingent consideration, non-current - S5D	3,917,400
Reported Value Measurement [Member] | XR Terra, LLC. [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current	$ 134,288
Reported Value Measurement [Member] | AUGGD [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total contingent consideration, current		$ 568,571

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details Narrative)	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consideration payout		$ 1,360,000
Goodwill	$ 22,306,959	22,306,959	$ 13,464,760
Change in fair value of contingent consideration	0	0
Changes Measurement [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Noncash expense	1,810,000	1,810,000
Noncash gain		1,010,000
XR Terra, LLC. [Member] | Changes Measurement [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Noncash expense	130,000	330,000
AUGGD [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill	$ 250,000	$ 250,000
Measurement Input, Commodity Market Price [Member] | Sector 5 Digital, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	3.76	3.76	3.98
Measurement Input, Commodity Market Price [Member] | Brightline Interactive, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	3.76	3.76
Measurement Input, Price Volatility [Member] | Sector 5 Digital, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	67.2	67.2	60.1
Measurement Input, Price Volatility [Member] | Brightline Interactive, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	77.4	77.4
Measurement Input, Discount Rate [Member] | Sector 5 Digital, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	15.4	15.4	15.1
Measurement Input, Discount Rate [Member] | Brightline Interactive, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	15.6	15.6
Measurement Input, Risk Free Interest Rate [Member] | Sector 5 Digital, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	4.2	4.2	3
Measurement Input, Risk Free Interest Rate [Member] | Brightline Interactive, LLC [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business combination, contingent consideration, measurement input	4	4

SCHEDULE OF RECONCILIATION OF C

SCHEDULE OF RECONCILIATION OF COST IN EXCESS OF BILLING FOR CONTRACT RECOGNIZED OVER TIME (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Contract assets includes, costs and estimated earnings in excess of billings on uncompleted contracts	$ 72,436	$ 39,484
Contract liabilities includes, billings in excess of costs and estimated earnings on uncompleted contracts	(529,898)	(841,389)
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Cost incurred on uncompleted contracts	65,845
Estimated earnings	210,311
Earned revenue	276,156
Less: billings to date	591,501
Billings in excess of costs, net	(315,345)
Contract assets includes, costs and estimated earnings in excess of billings on uncompleted contracts		4,015
Contract liabilities includes, billings in excess of costs and estimated earnings on uncompleted contracts	(315,345)	$ (308,175)
Billings in excess of costs, net	$ (315,345)

DEFERRED COSTS_CONTRACT ASSET_3

DEFERRED COSTS/CONTRACT ASSETS and DEFERRED REVENUE/CONTRACT LIABILITIES (Details Narrative) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Contract assets	$ 72,436	$ 39,484
Contract with customer liabilities	529,898	841,389
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Contract assets	72,436	35,469
Contract with customer liabilities	214,553	533,214
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Contract assets		4,015
Contract with customer liabilities	$ 315,345	$ 308,175

SCHEDULE OF STOCK OPTION FAIR V

SCHEDULE OF STOCK OPTION FAIR VALUE ASSUMPTIONS (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Weighted average expected terms (in years)	6 years	5 years 8 months 12 days	6 years	5 years 8 months 12 days
Weighted average expected volatility	100.70%	232.70%	100.80%	205.60%
Weighted average risk-free interest rate	3.80%	1.40%	3.70%	1.40%
Expected dividend yield	0%	0%	0%	0%

SUMMARY OF STOCK OPTION ACTIVIT

SUMMARY OF STOCK OPTION ACTIVITY (Details) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Equity [Abstract]
Options outstanding, beginning balance	4,484,616	4,740,910
Weighted average exercise price, outstanding, beginning balance	$ 4.68	$ 3.40
Weighted average remaining contractual term (Yrs), Outstanding Beginning	7 years	8 years 6 months
Intrinsic value, outstanding Beginning balance	$ 2,404,249	$ 7,893,467
Options, granted	4,076,933	836,141
Weighted average exercise price, options granted	$ 6.30	$ 9.68
Weighted average remaining contractual term (Yrs), options granted	9 years 9 months 18 days	9 years 9 months 18 days
Intrinsic value, options granted	$ 4,862	$ 2,276,040
Options, exercised	(94,932)	(969,775)
Weighted average exercise price, options exercised	$ 3.88	$ 2.90
Weighted average remaining contractual term (Yrs), options exercised	6 years 2 months 12 days	7 years 6 months
Intrinsic value, options exercised	$ 107,426	$ (9,176,737)
Options, Forfeited / Cancelled	(291,605)	(273,799)
Weighted average exercise price, options forfeited/Cancelled	$ 7.87	$ 4.98
Weighted average remaining contractual term (Yrs), options forfeited/Cancelled	8 years 8 months 12 days	7 years 8 months 12 days
Intrinsic value, options forfeited/Cancelled	$ 16,208	$ (2,020,350)
Options outstanding, ending balance	8,175,012	4,333,477
Weighted average exercise price, outstanding, ending balance	$ 5.38	$ 4.63
Weighted average remaining contractual term (Yrs), Outstanding Ending	7 years 10 months 24 days	8 years 10 months 24 days
Intrinsic value, outstanding Ending balance	$ 2,005,800	$ 10,404,816
Options exercisable, ending balance	3,677,049	3,568,874
Weighted average exercise price, exercisable, Ending balance	$ 3.91	$ 3.59
Weighted average remaining contractual term (Yrs), exercisable, Ending	5 years 8 months 12 days	8 years 8 months 12 days
Intrinsic value, exercisable Ending balance	$ 2,005,800	$ 10,293,216

SCHEDULE OF STOCK OPTION-BASED

SCHEDULE OF STOCK OPTION-BASED EXPENSE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Total	$ 844,538	$ 812,889	$ 2,319,246	$ 2,006,271
Research and Development Expense [Member]
Total	433,877	448,321	1,204,934	1,053,829
General and Administrative Expense [Member]
Total	86,729	43,265	175,777	167,837
Selling and Marketing Expense [Member]
Total	238,180	160,657	558,461	401,496
Cost of Sales [Member]
Total		4,348	755	48,506
Board Option Expense [Member]
Total	$ 85,752	$ 156,298	$ 379,319	$ 334,603

EQUITY (Details Narrative)

EQUITY (Details Narrative)		1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 01, 2021 USD ($) $ / shares shares	Feb. 28, 2023 $ / shares shares	Nov. 30, 2021 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($) shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, value, new issues							$ 11,821,364
Stock issued during period, value, new issues						$ 2,846,144	3,347,303
Fair value						320,000
Legacy acquisition obligation						570,000
Repayment of secured promissory note						$ 250,000
Number of common stock for services, value							$ 13,578,400
Common stock issued for exercise of stock options | shares						94,932	969,775
Proceeds from stock option exercised						$ 66,111	$ 1,326,043
Option granted | shares						4,076,933	836,141
Exercise price | $ / shares						$ 6.30	$ 9.68
Options vested | shares		200,000
Vesting period		4 years
Options granted, fair value						$ 15,200,000	$ 7,980,000
Stock option-based expense				$ 844,538	$ 812,889	2,319,246	$ 2,006,271
Unrecognized compensation expense to employees and vendors				17,890,000		17,890,000
Initial Options [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted, fair value						900,000
Stock option-based expense				30,000		30,000
Unrecognized compensation expense to employees and vendors				870,000		870,000
Target Options [Member]
Subsidiary, Sale of Stock [Line Items]
Options granted, fair value						8,080,000
Unrecognized compensation expense to employees and vendors				$ 8,080,000		$ 8,080,000
Two Thousand Sixteen Equity Incentive Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period shares | shares				11,300,000		11,300,000
Stock options intrinsic value per share | $ / shares						$ 3.76	$ 6.39
Weighted average period						1 year 5 months 23 days
Twenty Sixteen Equity Incentive Plan [Member]
Subsidiary, Sale of Stock [Line Items]
Shares available for issuance | shares				2,100,000		2,100,000
Equity Option [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock issued for exercise of stock options | shares						42,000	560,000
Proceeds from stock option exercised						$ 70,000	$ 1,330,000
Incite VR [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value						$ 1,360,000
Common Stock [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for services, shares | shares							1,500,000
Stock issued during period, value, new issues							$ 1,913
Stock issued during period, shares, new issues | shares							1,912,500
Number of common stock for acquisition, shares | shares						714,286	388,342
Stock issued during period, value, new issues						$ 714	$ 388
Number of common stock for services, value							$ 1,500
Common stock issued for exercise of stock options | shares				15,315	202,850	41,996	559,775
Common Stock [Member] | Brightline Interactive, LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for acquisition, shares | shares						714,000
Stock issued during period, value, new issues						$ 2,850,000
Common Stock [Member] | PulpoAR, LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for acquisition, shares | shares						214,000
Stock issued during period, value, new issues						$ 730,000
Common Stock [Member] | Incite VR [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, shares, new issues | shares						327,000
Number of common stock for acquisition, shares | shares						71,000
Stock issued during period, value, new issues						$ 330,000
Common Stock [Member] | AUGGD And XRTerra LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for acquisition, shares | shares							111,000
Stock issued during period, value, new issues							$ 1,050,000
Common Stock [Member] | Sector 5 Digital [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for acquisition, shares | shares							277,000
Stock issued during period, value, new issues							$ 2,300,000
Common Stock [Member] | Legacy Acquisition Obligation [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, shares, new issues | shares						107,000
Number of common stock for acquisition, shares | shares							453,000
Number of common stock for services, value							$ 1,250,000
Common Stock [Member] | XR Terra, LLC. [Member]
Subsidiary, Sale of Stock [Line Items]
Stock issued during period, value, new issues						$ 200,000
Stock issued during period, shares, new issues | shares						36,000
Vendors [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for services, shares | shares						1,800	15,000
Number of common stock for services, value						$ 10,000	$ 160,000
Employees [Member]
Subsidiary, Sale of Stock [Line Items]
Number of common stock for services, shares | shares				80,000		11,000
Number of common stock for services, value						$ 330,000	$ 100,000
Executive Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Option granted | shares		2,200,000
Exercise price | $ / shares		$ 7
Securities Purchase Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Share price | $ / shares			$ 10
Fair value of adjustment of warrants			$ 8,800,000
Stock issued during period, value, new issues			$ 15,000,000
Stock issued during period, shares, new issues | shares			1,500,000
Warrants price per share | shares			750,000
Warrants price per share | $ / shares			$ 14.63
Warrants to purchase shares exercised | shares			560,000
Warrants and rights outstanding term description			five years
Share based compensation arrangement by Share based payment award non option equity instruments not exercised | shares			190,000
Securities Purchase Agreement [Member] | Investor [Member]
Subsidiary, Sale of Stock [Line Items]
Proceeds from issuance of stock			$ 13,580,000
Valuation Technique, Option Pricing Model [Member] | Securities Purchase Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding term			5 years
Fair value of measurement input			146
Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | Securities Purchase Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value of measurement input			1.22
Valuation Technique, Option Pricing Model [Member] | Measurement Input, Expected Dividend Rate [Member] | Securities Purchase Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value of measurement input			0
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Share price | $ / shares	$ 7
Stock issued during period, shares, new issues | shares	1,910,000
Proceeds from issuance of equity	$ 11,820,000
Number of common stock for services, shares | shares	87,500
Fair value of adjustment of warrants	$ 520,000
Shares issued for satisfaction of convertible promissory note, value	$ 1,430,000
Shares issued for satisfaction of convertible promissory note, shares | shares	324,150
Loss on conversion of convertible notes	$ 280,000
IPO [Member] | Valuation Technique, Option Pricing Model [Member]
Subsidiary, Sale of Stock [Line Items]
Warrants and rights outstanding term	5 years
Fair value of measurement input	129
IPO [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value of measurement input	0.87
IPO [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Expected Dividend Rate [Member]
Subsidiary, Sale of Stock [Line Items]
Fair value of measurement input	0

SCHEDULE OF COMPUTATION OF BASI

SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET LOSS PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net loss	$ (5,222,598)	$ (1,751,613)	$ (9,296,960)	$ (4,983,768)
Weighted-average common shares outstanding for basic and diluted net loss per share	13,783,241	12,604,315	13,727,595	11,386,679
Basic and diluted net loss per share	$ (0.38)	$ (0.14)	$ (0.68)	$ (0.44)

SCHEDULE OF POTENTIALLY DILUTIV

SCHEDULE OF POTENTIALLY DILUTIVE SECURITIES (Details) - shares	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	9,012,512	5,170,977
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	8,175,012	4,333,477
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	837,500	837,500

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) $ in Thousands	Jun. 30, 2022	Mar. 31, 2022
Augmented Reality Investments Pty Ltd [Member]
Related Party Transaction [Line Items]
Equity method investment ownership percentage		1%
Augmented Reality Investments Pty Ltd [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties	$ 250	$ 250

SCHEDULE OF UNDISCOUNTED LEASE

SCHEDULE OF UNDISCOUNTED LEASE PAYMENTS (Details) - USD ($)	Mar. 31, 2023	Aug. 01, 2022	Jul. 01, 2022	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
2023 (three months)	$ 137,000
2024	497,000
2025	321,000
2026	117,000
Total future minimum lease commitments, including short-term leases	1,072,000
Less: future minimum lease payments of short -term leases	(65,000)
Less: imputed interest	(86,000)
Present value of future minimum lease payments, excluding short term leases	921,000
Current portion of operating lease liabilities	399,424	$ 90,000	$ 340,000
Non-current portion of operating lease liabilities	521,855	$ 340,000	$ 450,000
Total operating lease liability	$ 921,000

SCHEDULE OF CONTINGENT CONSIDER

SCHEDULE OF CONTINGENT CONSIDERATION FOR ACQUISITIONS (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Asset Acquisition [Line Items]
Subtotal current portion	$ 4,123,988	$ 1,966,171
BLI, net of current portion (see Note 4)	6,519,800	5,340,800
Total contingent consideration for acquisitions	10,643,788	7,306,971
Sector 5 Digital, LLC [Member]
Asset Acquisition [Line Items]
Subtotal current portion	2,972,500	1,397,600
BLI, net of current portion (see Note 4)	2,602,400	5,340,800
Brightline Interactive, LLC [Member]
Asset Acquisition [Line Items]
Subtotal current portion	1,017,200
BLI, net of current portion (see Note 4)	3,917,400
Motion Zone LLC [Member]
Asset Acquisition [Line Items]
Subtotal current portion		568,571
XRT [Member]
Asset Acquisition [Line Items]
Subtotal current portion	$ 134,288

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Loss Contingencies [Line Items]
Payments for rent				$ 460	$ 280
Weighted average remaining lease term		1 year 7 months 6 days		1 year 7 months 6 days
Weighted average discount rate		7.90%		7.90%
Operating lease rent expense		$ 130	$ 110	$ 410	290
Lease commitments, description				These existing leases have remaining lease terms ranging from 1 to 4 years. Certain lease agreements contain options to renew, with renewal terms that generally extend the lease terms by 1 to 3 years for each option. The Company determined that none of its current leases are reasonably certain to renew
Maximum distribution percentage of net proceeds from divestiture				10%
Augmented Reality Investments Pty Ltd [Member] | Operating Expense [Member]
Loss Contingencies [Line Items]
Assets acquisition, consideration payment	$ 570
Augmented Reality Investments Pty Ltd [Member] | Related Party [Member]
Loss Contingencies [Line Items]
Due to related parties	$ 250		$ 250		$ 250

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative)	Apr. 01, 2023
Motion Zone LLC [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Ownership percentage	19.99%