Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Sep. 23, 2022 | Dec. 31, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000728387 | ||
Entity Registrant Name | IsoRay, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jun. 30, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 001-33407 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 41-1458152 | ||
Entity Address, Address Line One | 350 Hills St., Suite 106 | ||
Entity Address, City or Town | Richland | ||
Entity Address, State or Province | WA | ||
Entity Address, Postal Zip Code | 99354 | ||
City Area Code | 509 | ||
Local Phone Number | 375-1202 | ||
Title of 12(b) Security | Common Stock, $0.001 par value | ||
Trading Symbol | ISR | ||
Security Exchange Name | NYSEAMER | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 54,853,119 | ||
Entity Common Stock, Shares Outstanding | 142,112,766 | ||
Auditor Firm ID | 444 | ||
Auditor Name | Assure CPA, LLC | ||
Auditor Location | Spokane, Washington |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 55,890 | $ 63,828 |
Accounts receivable, net | 1,608 | 2,013 |
Inventory | 1,396 | 980 |
Prepaid expenses and other current assets | 435 | 481 |
Total current assets | 59,329 | 67,302 |
Non-current assets: | ||
Property and equipment, net | 1,976 | 1,958 |
Right of use asset, net | 512 | 768 |
Restricted cash | 182 | 182 |
Inventory, non-current | 2,333 | 76 |
Other assets, net | 107 | 130 |
Total assets | 64,439 | 70,416 |
Current liabilities: | ||
Accounts payable and accrued expenses | 966 | 730 |
Lease liability | 268 | 252 |
Accrued protocol expense | 150 | 98 |
Accrued radioactive waste disposal | 120 | 100 |
Accrued payroll and related taxes | 509 | 362 |
Accrued vacation | 253 | 259 |
Total current liabilities | 2,266 | 1,801 |
Non-current liabilities: | ||
Lease liability, non-current | 256 | 524 |
Accrued payroll and related taxes, non-current | 0 | 77 |
Asset retirement obligation | 640 | 608 |
Total liabilities | 3,162 | 3,010 |
Commitments and contingencies (Note 14) | ||
Stockholders' equity: | ||
Preferred stock, $.001 par value; 7,000,000 shares authorized: Series B: 5,000,000 shares allocated; no shares issued and outstanding | 0 | 0 |
Common stock, $.001 par value; 200,000,000 shares authorized; 142,040,266 and 141,915,266 shares issued and outstanding | 142 | 142 |
Additional paid-in capital | 159,732 | 158,589 |
Accumulated deficit | (98,597) | (91,325) |
Total stockholders' equity | 61,277 | 67,406 |
Total liabilities and stockholders' equity | $ 64,439 | $ 70,416 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2022 | Jun. 30, 2021 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 7,000,000 | 7,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 142,040,266 | 141,915,266 |
Common stock, shares outstanding (in shares) | 142,040,266 | 141,915,266 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Sales, net | $ 10,795,000 | $ 10,053,000 | $ 9,680,000 |
Cost of sales | 6,179,000 | 4,932,000 | 4,556,000 |
Gross profit | 4,616,000 | 5,121,000 | 5,124,000 |
Operating expenses: | |||
Research and development | 2,582,000 | 1,427,000 | 1,126,000 |
Sales and marketing | 2,804,000 | 2,440,000 | 2,976,000 |
General and administrative | 6,621,000 | 4,691,000 | 4,571,000 |
Loss on equipment disposals | 0 | 9,000 | 0 |
Change in estimate of asset retirement obligation (Note 8) | 0 | 0 | (73,000) |
Total operating expenses | 12,007,000 | 8,567,000 | 8,600,000 |
Operating loss | (7,391,000) | (3,446,000) | (3,476,000) |
Non-operating income: | |||
Interest income | 119,000 | 59,000 | 30,000 |
Total non-operating income | 119,000 | 59,000 | 30,000 |
Net loss | (7,272,000) | (3,387,000) | (3,446,000) |
Preferred stock dividends | 0 | (3,000) | (11,000) |
Net loss applicable to common stockholders | $ (7,272,000) | $ (3,390,000) | $ (3,457,000) |
Basic and diluted loss per share (in dollars per share) | $ (0.05) | $ (0.03) | $ (0.05) |
Weighted average shares used in computing net loss per share: | |||
Basic and diluted (in shares) | 141,987 | 103,841 | 67,601 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Preferred Stock [Member] Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Jun. 30, 2019 | 59,065 | 67,388,047 | |||
Balances at Jun. 30, 2019 | $ 0 | $ 67 | $ 92,105 | $ (84,492) | $ 7,680 |
Issuance of common stock pursuant to exercise of options (in shares) | 262,500 | 262,500 | |||
Issuance of common stock pursuant to exercise of options | $ 1 | 130 | $ 131 | ||
Issuance of common stock pursuant to at the market offering, net (in shares) | 1,247,232 | ||||
Issuance of common stock pursuant to at the market offering, net | $ 1 | 873 | 874 | ||
Payment of dividend to preferred stockholders | (11) | (11) | |||
Share-based compensation | 495 | 495 | |||
Net loss | $ 0 | (3,446) | (3,446) | ||
Balances (in shares) at Jun. 30, 2020 | 59,065 | 68,897,779 | |||
Balances at Jun. 30, 2020 | $ 0 | $ 69 | 93,592 | (87,938) | $ 5,723 |
Issuance of common stock pursuant to exercise of options (in shares) | 970,315 | 970,315 | |||
Issuance of common stock pursuant to exercise of options | $ 1 | 533 | $ 534 | ||
Issuance of common stock pursuant to at the market offering, net (in shares) | 59,669,230 | ||||
Issuance of common stock pursuant to at the market offering, net | $ 60 | 56,315 | 56,375 | ||
Payment of dividend to preferred stockholders | (9) | (9) | |||
Share-based compensation | 386 | 386 | |||
Net loss | $ 0 | (3,387) | (3,387) | ||
Conversion of preferred stock to common stock (in shares) | (59,065) | 59,065 | |||
Issuance of common stock pursuant to exercise of warrants (in shares) | 12,318,877 | ||||
Issuance of common stock pursuant to exercise of warrants | $ 12 | 7,772 | 7,784 | ||
Balances (in shares) at Jun. 30, 2021 | 141,915,266 | ||||
Balances at Jun. 30, 2021 | $ 0 | $ 142 | 158,589 | (91,325) | $ 67,406 |
Issuance of common stock pursuant to exercise of options (in shares) | 125,000 | 125,000 | |||
Issuance of common stock pursuant to exercise of options | $ 0 | 56 | $ 56 | ||
Share-based compensation | 1,087 | 1,087 | |||
Net loss | (7,272) | (7,272) | |||
Balances (in shares) at Jun. 30, 2022 | 0 | 142,040,266 | |||
Balances at Jun. 30, 2022 | $ 0 | $ 142 | $ 159,732 | $ (98,597) | $ 61,277 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net loss | $ (7,272,000) | $ (3,387,000) | $ (3,446,000) |
Adjustments to reconcile net loss to net cash used by operating activities: | |||
Lease expense | 4,000 | 4,000 | 4,000 |
Depreciation expense | 248,000 | 149,000 | 147,000 |
Loss on equipment disposals | 0 | 10,000 | 0 |
Amortization of other assets | 41,000 | 37,000 | 38,000 |
Accretion of asset retirement obligation | 32,000 | 31,000 | 29,000 |
Change in estimate of asset retirement obligation | 0 | 0 | (73,000) |
Share-based compensation | 1,087,000 | 386,000 | 495,000 |
Changes in operating assets and liabilities: | |||
Accounts receivable | 405,000 | 31,000 | (890,000) |
Inventory | (2,673,000) | (274,000) | (97,000) |
Prepaid expenses and other current assets | 46,000 | (56,000) | (121,000) |
Accounts payable and accrued expenses | 236,000 | 76,000 | (29,000) |
Accrued protocol expense | 52,000 | 63,000 | (98,000) |
Accrued radioactive waste disposal | 20,000 | 6,000 | 20,000 |
Accrued payroll and related taxes | 70,000 | 32,000 | 318,000 |
Accrued vacation | (6,000) | 55,000 | 62,000 |
Net cash used by operating activities | (7,710,000) | (2,837,000) | (3,641,000) |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Additions to property and equipment | (266,000) | (381,000) | (273,000) |
Additions to other assets | (18,000) | (30,000) | (14,000) |
Proceeds from disposal of equipment | 0 | 1,000 | 0 |
Net cash (used in) investing activities | (284,000) | (410,000) | (287,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Preferred dividends paid | 0 | (9,000) | (11,000) |
Proceeds from sales of common stock, pursuant to exercise of warrants | 0 | 7,784,000 | 0 |
Proceeds from sales of common stock, pursuant to exercise of options | 56,000 | 534,000 | 131,000 |
Net cash provided by financing activities | 56,000 | 64,684,000 | 994,000 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | (7,938,000) | 61,437,000 | (2,934,000) |
Cash, cash equivalents, and restricted cash beginning of year | 64,010,000 | 2,573,000 | 5,507,000 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH END OF YEAR | 56,072,000 | 64,010,000 | 2,573,000 |
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets: | |||
Cash and cash equivalents | 55,890,000 | 63,828,000 | 2,392,000 |
Restricted cash | 182,000 | 182,000 | 181,000 |
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH END OF YEAR | 56,072,000 | 64,010,000 | 2,573,000 |
Non-cash investing and financing activities: | |||
Recognition of operating lease liability and right of use asset | 0 | 0 | 1,228,000 |
Underwritten Offering [Member] | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from sales of common stock, pursuant to underwritten offering, net | 0 | 56,375,000 | 0 |
At the Market Offering [Member] | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from sales of common stock, pursuant to underwritten offering, net | $ 0 | $ 0 | $ 874,000 |
Note 1 - Organization
Note 1 - Organization | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization Isoray, Inc. was incorporated in Minnesota in 1983. July 28, 2005, December 2018, June 15, 2004 October 1, 2004 two 1998. Isoray International LLC (International), a Washington limited liability company, was formed on November 27, 2007 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (collectively the Company). All significant inter-company transactions and balances have been eliminated in consolidation. Cash Equivalents The Company considers currency on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three Investments Investments in debt securities with original maturities greater than three one one June 30, 2022, no Accounts Receivable Accounts receivable are stated at the amount that management of the Company expects to collect from outstanding balances. Management provides for probable uncollectible amounts through an allowance for doubtful accounts. Additions to the allowance for doubtful accounts are based on management’s judgment, considering historical experience with write-offs, collections and current credit conditions. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the allowance for doubtful accounts and a credit to the applicable accounts receivable. Payments received subsequent to the time that an account is written off are treated as bad debt recoveries. Inventory Inventory is reported at the lower of cost or net realizable value. Cost of raw materials is determined using the weighted average method. Cost of work in process and finished goods is computed using standard cost, which approximates actual cost, on a first first The cost of materials and production costs contained in inventory that are not no Property and Equipment Property and Equipment is capitalized and carried at cost less accumulated depreciation. Depreciation expense is recorded to cost of sales and operating expenses. Normal maintenance and repairs are charged to expense as incurred. When any assets are sold or otherwise disposed of, the cost and accumulated depreciation are reversed with any resulting gain or loss being recognized on the consolidated statement of operations. Depreciation is computed using the straight-line method over the following estimated useful lives: Production equipment (in years) 3 to 7 Office equipment (in years) 2 to 10 Furniture and fixtures (in years) 2 to 10 Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the asset. Property and equipment that is acquired but not no Management periodically reviews the net carrying value of all of its long-lived assets on an asset by asset basis. An impairment loss is recognized if the carrying amount of a defined asset group is not Although management has made its best estimate of the factors that affect the carrying value based on current conditions, it is reasonably possible that changes could occur which could adversely affect management’s estimate of net cash flows expected to be generated from its assets that could result in an impairment adjustment. Prepaid Expenses and Other Assets Prepaid expenses and other assets, which include website development costs, trademarks, patents and licenses, are stated at cost, less accumulated amortization. For website development, costs incurred in the planning stage are expensed as incurred whereas costs associated with the application and infrastructure development, graphics development, and content development are capitalized. Amortization of website development costs is computed using the straight-line method over the estimated economic useful lives of the asset. Trademarks and patents include costs, primarily legal, incurred in obtaining them. Amortization of trademarks and patents is computed using the straight-line method over the estimated economic useful lives of the assets. Licenses include costs related to licenses pertaining to the use of technology or operational licenses. These licenses are recorded at stated cost, less accumulated amortization. Amortization of licenses is computed using the straight-line method over the estimated economic useful lives of the assets. The Company periodically reviews the carrying values of other assets and evaluates the recorded basis for any impairment. Any impairment is recognized when the expected future operating cash flows to be derived from the licenses are less than their carrying value. Asset Retirement Obligation The estimated fair value of the future retirement costs of the Company’s leased assets and the costs for the decontamination and reclamation of equipment located within the leased assets are recorded as a liability on a discounted basis when a contractual obligation exists; an equivalent amount is capitalized to property and equipment. The initial recorded obligation is discounted using the Company's credit-adjusted risk-free rate and is reviewed periodically for changes in the estimated future costs underlying the obligation. The Company amortizes the initial amount capitalized to property and equipment and recognizes accretion expense in connection with the discounted liability over the estimated remaining useful life of the leased assets. Adjustments and changes to either the timing or amount of the original present value estimate underlying the obligation are made in the period incurred. Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than a forced liquidation sale. At June 30, 2022 2021, Fair Value Measurement When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 no At June 30, 2022 2021, no not Revenue Recognition The Company recognizes revenue based on the five 606, Revenue from Contracts with Customers 1 2 3 4 5 not no 17. Shipping and Handling Costs Shipping and handling costs include charges associated with delivery of goods from the Company’s facilities to its customers and are reflected in cost of sales. The Company has elected to account for shipping and handling activities as a fulfillment cost. Shipping and handling costs paid to the Company by its customers are included in revenue. Share-Based Compensation The Company measures and recognizes expense for all share-based payments at fair value. The Company uses the Black-Scholes option valuation model to estimate fair value for all stock options and stock warrants on the date of grant. For stock options that vest over time, the Company recognizes compensation cost on a straight-line basis over the requisite service period for the entire award. The Company recognizes forfeitures as they occur. Research and Development Costs Research and development costs, including salaries, research materials, administrative expenses and contractor fees, are charged to operations as incurred. The cost of equipment used in research and development activities which has alternative uses is capitalized as part of fixed assets and not Advertising and Marketing Costs Advertising costs are expensed as incurred except for the cost of tradeshows and related marketing materials which are deferred until the tradeshow occurs. (In thousands) For the Years Ended June 30, 2022 2021 2020 Advertising and marketing costs expensed (including tradeshows) $ 129 $ 84 $ 141 At June 30, 2022 2021 Prepaid marketing expenses deferred until event occurs $ 25 $ 21 Legal Contingencies The Company records contingent liabilities resulting from asserted and unasserted claims against it, when it is probable that a liability has been incurred and the amount of the loss is reasonably estimable. Estimating probable losses requires analysis of multiple factors, in some cases including judgments about the potential actions of third not Income Taxes Income taxes are accounted for under the liability method in accordance with ASC 740, Income Taxes not not not two 1 not 2 not 50% Leases The Company accounts for its leases under ASC 842, Leases Income (Loss) Per Common Share Basic earnings per share is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding, and does not Securities that could be dilutive in the future are as follows: June 30, 2022 2021 2020 Preferred stock - - 59,065 Common stock warrants 2,645,738 2,645,738 6,080,000 Common stock options 6,914,025 4,514,660 5,497,505 Total potential dilutive securities 9,559,763 7,160,398 11,636,570 Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management of the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes of the Company including the allowance for doubtful accounts receivable; net realizable value of the enriched barium inventory; the estimated useful lives used in calculating depreciation and amortization on the Company’s fixed assets, patents, trademarks and other assets; estimated amount and fair value of the asset retirement obligation related to the Company’s production facilities; and inputs to the Black-Scholes calculation used in determining the expense related to share-based compensation including volatility and estimated lives of options granted. Accordingly, actual results could differ from those estimates and affect the amounts reported in the financial statements. Recent Accounting Pronouncements Accounting Standards Updates to Become Effective in Future Periods Other accounting standards that have been issued or proposed by FASB that do not not not not |
Note 3 - Inventory
Note 3 - Inventory | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3. Inventory Inventory consisted of the following (in thousands): June 30, Inventory, current 2022 2021 Raw materials $ 911 $ 645 Work in process 462 286 Finished goods 23 49 Total inventory, current $ 1,396 $ 980 June 30, Inventory, non-current 2022 2021 Enriched barium, non-current $ 2,269 $ - Raw materials, non-current 64 76 Total inventory, non-current $ 2,333 $ 76 Inventory, non-current represents raw materials that were ordered in quantities to obtain volume cost discounts which based on current and anticipated sales volumes will not August 25, 2017, 130 December 13, 2021, one August 2017 December 31, 2022. On September 9, 2021, September 2021 6,000 September 2021, 131, twelve June 30, 2022, 915 131 June 30, 2022, 3,111 1,040 twelve 2,071 June 30, 2023. 1,040 no third 131 On March 31, 2022, two first 5,746.6 second 6,310.4 June 30, 2022, 6,000 131. no 131, third 131 |
Note 4 - Prepaid Expenses and O
Note 4 - Prepaid Expenses and Other Current Assets | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 4. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): June 30, 2022 2021 Prepaid insurance $ 122 $ 107 Other prepaid expenses 269 315 Other current assets 27 27 Other receivables 17 32 Total prepaid expenses and other current assets $ 435 $ 481 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. Property & Equipment Property & equipment consisted of the following (in thousands): June 30, 2022 2022 2021 Land $ 366 $ 366 Equipment 4,438 4,202 Leasehold improvements 4,143 4,143 Other 1 525 495 Property and equipment 9,472 9,206 Less accumulated depreciation (7,496 ) (7,248 ) Property and equipment, net $ 1,976 $ 1,958 1. Plant and equipment, not June 30, 2022 2021 2017. three five |
Note 6 - Restricted Cash
Note 6 - Restricted Cash | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 6. Restricted Cash The Washington Department of Health requires the Company to provide collateral for the decommissioning of its facility. To satisfy this requirement, the Company has a bank account with a balance of $182,000. The account is termed restricted cash and classified as a long-term asset as the Company does not July 2019 April 30, 2026. |
Note 7 - Other Assets, Net
Note 7 - Other Assets, Net | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | 7. Other Assets, net Other assets, net of accumulated amortization consisted of the following (in thousands): June 30, 2022 2021 Website development $ 90 $ 90 Licenses 520 520 Patents and trademarks 378 378 Total Other Assets 988 988 Less: Accumulated Amortization (881 ) (858 ) $ 107 $ 130 Year Ended June 30, 2022 2021 2020 Amortization expense on website development $ 7 $ 7 $ 8 Amortization expense on licenses 18 14 14 Amortization expense on patents and trademarks 16 16 16 Total amortization expense $ 41 $ 37 $ 38 Future amortization is expected to be as follows (in thousands): Year ended June 30, 2023 $ 42 2024 23 2025 22 2026 10 2027 10 Thereafter - $ 107 |
Note 8 - Leases
Note 8 - Leases | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 8. Leases The Company maintains a production facility located at Applied Process Engineering Laboratory (APEL) in Richland, Washington. The APEL facility became operational in September 2007. 842 July 1, 2019, April 2024 $1.2 not June 30, 2022 June 30, 2022 ( Year Ending June 30, 2023 292 2024 264 Total 556 Less: Imputed interest (32 ) Total Lease Liability 524 Less current portion (268 ) Non-current Lease Liability $ 256 For the fiscal years ended June 30, 2022, 2021, 2020 June 31, 2022, 2021 2020 Asset Retirement Obligation The Company has an asset retirement obligation (ARO) associated with the facility it currently leases. The following table presents the change in the ARO (in thousands): Year ended June 30, 2022 2021 Beginning balance $ 608 $ 577 Accretion of discount 32 31 Ending Balance $ 640 $ 608 In July 2019, five $73,000. |
Note 9 - Share-Based Compensati
Note 9 - Share-Based Compensation | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 9. Share-Based Compensation The Company currently provides share-based compensation under two ■ 2017 2017 ■ 2020 2020 Options granted prior to fiscal 2017 The Company’s stockholders approved the 2017 “2017 June 2017. 2017 On December 7, 2021, 2020 2020 2020 2020 2020 may The Black-Scholes option valuation model was developed for use in estimating the fair value of traded options which have no not The weighted average fair value of stock option awards granted and the key assumptions used in the Black-Scholes valuation model to calculate the fair value are as follows: For the Year Ended June 30, 2022 2021 2020 Weighted average fair value $0.55 $0.86 $0.39 Options issued 3,269,100 400,000 1,330,000 Exercise price $0.28 to $0.79 $0.64 to $1.66 $0.32 to $0.61 Expected term (in years) 5 5 5 Risk-free rate 0.73% to 3.24% 0.22% to 0.94% .33% to 1.80% Volatility 99% - 100% 83% - 100% 83% - 89% The following table presents the share-based compensation expense (in thousands): For the Year Ended June 30, 2022 2021 2020 Cost of sales $ 80 $ 30 $ 21 Research and development expense 244 104 111 Sales and marketing expense 47 49 125 General and administrative expense 716 203 238 Total share-based compensation $ 1,087 $ 386 $ 495 The total value of the stock options awards is expensed ratably over the vesting period of the employees receiving the awards. As of June 30, 2022, A summary of stock option information within the Company’s share-based compensation plans during the fiscal years is presented below: Options Outstanding Price (a) Life (b) Value (c) Balance at June 30, 2019 4,645,315 $ 0.64 7.95 $ 1 Granted (d) 1,330,000 0.61 Expired (192,810 ) 1.33 Forfeited (22,500 ) 0.42 Exercised (262,500 ) 0.49 Balance at June 30, 2020 5,497,505 $ 0.62 7.85 $ 233 Granted (d) 400,000 1.18 Expired (149,405 ) 1.07 Forfeited (263,125 ) 0.53 Exercised (970,315 ) 0.55 Balance at June 30, 2021 4,514,660 $ 0.67 7.27 $ 984 Granted (d) 3,269,100 0.75 Expired (256,060 ) 0.84 Forfeited (488,675 ) 0.79 Exercised (125,000 ) 0.45 Balance at June 30, 2022 6,914,025 $ 0.70 7.43 $ 2 Vested and expected to vest at June 30, 2022 6,914,025 $ 0.70 7.43 $ 2 Exercisable at June 30, 2022 4,432,121 $ 0.66 6.58 $ 1 (a) Weighted average exercise price per share. (b) Weighted average remaining contractual life. (c) Aggregate intrinsic value (in thousands). (d) All options granted had exercise prices equal to or greater than the ending closing market price of the Company’s common stock on the grant date. The options were granted to employees and management by the Compensation Committee and had vesting periods from immediate to five For the Year Ended June 30, 2022 2021 2020 Aggregate intrinsic value of options exercised (in thousands) $ 3 $ 770 $ 83 The Company’s current policy is to issue new shares to satisfy option exercises. |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. Stockholders’ Equity The authorized capital structure of the Company consists of $.001 $.001 Common Stock On January 23, 2020, 3 February 4, 2020, March 31, 2020, June 30, 2020, 2021 2022. October 19, 2020, On October 22, 2020, five On February 8, 2021, February 8, 2021 During Fiscal 2021, During Fiscal 2022, Preferred Stock The Company’s Certificate of Incorporation authorizes 7,000,000 shares of $0.001 June 30, 2022 no June 30, 2022. Series B 59,065 shares of Series B preferred stock automatically converted into 59,065 shares of common stock as a result of the October 22, 2020 December 8, 2020, October 22, 2020. December 31, 2020. June 30, 2022 2021, zero $0 $0 Warrants During the year ended June 30, 2021, October 22, 2020. Warrants issued 9,134,615 Exercise price $0.57 Expected term (in years) 5 Risk-free rate 0.38% Volatility 85% During the year ended June 30, 2022 not The following table summarizes the activity of all stock warrants and weighted average exercise prices. Warrants Price (a) Balance at June 30, 2019 6,080,000 $ 0.75 Balance at June 30, 2020 6,080,000 $ 0.75 Warrants issued 9,134,615 0.57 Warrants exercised (12,318,877 ) 0.63 Warrants expired (250,000 ) 0.54 Balance at June 30, 2021 2,645,738 $ 0.70 Warrants issued - - Warrants exercised - - Warrants expired - - Balance at June 30, 2022 2,645,738 $ 0.70 (a) Weighted average exercise price per share. As of June 30, 2022, July 10, 2023, January 11, 2024, October 22, 2025. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. Income Taxes Due to net losses, the Company did not June 30, 2022, 2021 2020. The significant deferred tax components using a federal income tax rate of 21% June 30, 2022 2021 As of June 30, 2022 2021 Fixed assets $ 9 $ 55 Share-based compensation 525 563 Other accruals 106 49 Asset retirement obligation 134 128 Research credit carryforwards 389 277 Other 7 6 Net operating loss carryforwards 17,904 16,568 Total deferred tax assets 19,074 17,646 Valuation allowance (19,074 ) (17,646 ) Total $ - $ - As management of the Company cannot determine that it is more likely than not June 30, 2022 2021. The Company has federal net operating loss carryforwards of approximately $67.5 million on June 30, 2022 2025 2038. June 30, 2022 80% not The Company has a research credit carryforward of approximately $0.4 million on June 30, 2022 2037 2042. The Company’s statutory rate reconciliation is as follows (in thousands): For the year ended June 30, 2022 2021 2020 U.S. federal statutory income tax rate 21 % 21 % 21 % Expected income tax benefit $ (1,522 ) $ (711 ) $ (724 ) Meals and entertainment 14 6 8 Non-deductible penalties 25 22 24 Change in estimate (9 ) 28 (58 ) Incentive stock options 126 48 - Research credit (62 ) (52 ) 11 Change in valuation allowance 1,428 659 739 Income tax expense (benefit) $ - $ - $ - The Company has reviewed the tax positions taken and concluded that it does not Currently, tax years 2020 2022 2020 |
Note 12 - 401(k) and Profit Sha
Note 12 - 401(k) and Profit Sharing Plan | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 12. 401 The Company has a 401 2007, 401 401 not 401 January 1, 2022, 401 first third 2023 401 January 1, 2022 December 31, 2022. June 30, 2022 2021 |
Note 13 - Distribution Agreemen
Note 13 - Distribution Agreements | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Agreements Disclosure [Text Block] | 13. Distribution Agreements On July 14, 2017, one two one July 2020. September 22, 2020, one two one 2020, three 131 August 1, 2016. one two one August 1, 2019 not not 2019, |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. Commitments and Contingencies Isotope Purchase Agreement On August 26, 2020, August 2020 December 2021 131 February 10, 2021, March 18, 2021, 131 March 18, 2021 March 31, 2023. July 29, 2021, 131 August 19, 2021, 131 April 11, 2022 , 131 April 11, 2022 , 131 . |
Note 15 - Concentrations of Cre
Note 15 - Concentrations of Credit and Other Risks | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 15. Concentrations of Credit and Other Risks The Company’s financial instruments that were exposed to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, and accounts receivable. The Company’s cash and cash equivalents were maintained with high-quality financial institutions at June 30, 2022 2021, June 30, 2022 2021, no The Company routinely assesses the financial strength of its customers and provides an allowance for doubtful accounts as necessary. At both June 30, 2022 2021, Inventories Most components used in the Company’s product are purchased from outside sources. Certain components are purchased from single suppliers. The failure of any such supplier to meet its commitment on schedule could have a material adverse effect on the Company’s business, operating results and financial condition. If a sole-source supplier were to go out of business or otherwise become unable to meet its supply commitments, the process of locating and qualifying alternate sources could require up to several months, during which time the Company’s production could be delayed. Such delays could have a material adverse effect on the Company’s business, operating results and financial condition. Sanctions placed on financial transactions with Russian banking institutions may 131 |
Note 16 - Quarterly Financial D
Note 16 - Quarterly Financial Data (unaudited) | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 16 . Quarterly Financial Data (unaudited) The following table provides the selected quarterly financial data for fiscal years 2022 2021 Quarters ended September 30, December 31, March 31, June 30, 2021 2021 2022 2022 Net revenue $ 2,564 $ 2,816 $ 2,910 $ 2,505 Gross profit $ 1,029 $ 1,220 $ 1,441 $ 926 Net loss $ (2,243 ) $ (1,604 ) $ (1,347 ) $ (2,078 ) Net loss per share – basic and diluted $ (0.02 ) $ (0.01 ) $ (0.01 ) $ (0.01 ) Shares used in basic and diluted per share calculation 141,915 141,955 142,040 142,040 Quarters ended September 30, December 31, March 31, June 30, 2020 2020 2021 2021 Net revenue $ 2,384 $ 2,359 $ 2,600 $ 2,710 Gross profit/(loss) $ 1,246 $ 1,167 $ 1,362 $ 1,346 Net loss $ (713 ) $ (868 ) $ (745 ) $ (1,061 ) Net loss per share – basic and diluted $ (0.01 ) $ (0.01 ) $ (0.01 ) $ (0.01 ) Shares used in basic and diluted per share calculation 68,898 83,047 122,566 141,673 1. Due to rounding, the total of the individual quarters and the year-end calculation on the Consolidated Statement of Operations may |
Note 17 - Contracts With Custom
Note 17 - Contracts With Customers | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 17. Contracts with Customers We routinely enter into agreements with customers that include general commercial terms and conditions, notification requirements for price increases, shipping terms, and in most cases, prices for the products that we offer. However, these agreements do not no not not not not not Revenues for all products are typically recognized at the time the product is shipped, at which time the title passes to the customer, and there are no Sources of Revenue We have identified the following revenues disaggregated by revenue source: 1. Domestic – direct sales of products and services. 2. International – direct sales of products and services. During the fiscal year 2022 2021 2020, 2021 2020 2022, not 2021 2020. Contract Balances We incur obligations on general customer purchase orders and e-mails that have been accepted but unfulfilled. Due to the short duration of time between order acceptance and delivery of the related product, we have determined that the balance related to these obligations is generally immaterial at any point in time. We monitor the value of orders accepted but unfulfilled at the close of each reporting period to determine if disclosure is appropriate. Warranty Our general product warranties do not not Returns Generally, we allow returns if not may Commissions and Contract Costs We expense commissions on orders to our sales team upon satisfaction of our performance obligations. We generally do not Practical Expedients Our payment terms for sales direct to customers and distributors are substantially less than the one Shipping and Handling Charges Fees charged to customers for shipping and handling of products are included as revenue and the costs for shipping and handling of products are included as a component of cost of sales. Taxes Collected from Customers As our products are used in another service and are exempt, to this point we have not Concentration of Customers The following are the Company’s top customers, facilities or physician practices that utilize multiple surgical facilities shown as a percentage of total sales for the twelve June 30, 2022: Year ended June 30, Facility 2022 % of total revenue 2021 % of total revenue 2020 % of total revenue El Camino, Los Gatos, & other facilities (1) 27.9 % 25.3 % 26.8 % GT Medical Technologies 14.2 % 11.3 % <10.0 % ( 1 The head of the single largest physician practice also serves as the Company’s medical director. As the medical director, this physician advises the Company Board of Directors and management, provides technical advice related to product development and research and development, and provides internal training to the Company sales staff and professional training to our sales staff and to other physicians. None 10% September 20, 2022, The following is the Company’s top customer shown as a percentage of total accounts receivable for the twelve June 30, 2022: Year ended June 30, Facility 2022 % of total accounts receivable 2021 % of total accounts receivable 2020 % of total accounts receivable GT Medical Technologies <10.0 % 10.2 % <10.0 % |
Note 18 - Related Parties
Note 18 - Related Parties | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 18. Related Parties During fiscal year 2022, not four no |
Note 19 - Subsequent Events
Note 19 - Subsequent Events | 12 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 19. Subsequent Events At the end of July 2022, one second August not August 2022 September 2022 not 131 not no 131. September 7, 2022, On September 27, 2022, no Upon the closing of the Merger, Isoray will increase the size of its Board of Directors from four members to not one one Consummation of the Merger is subject to the satisfaction or waiver of various closing conditions, including: (i) performance in all respects by each party of its covenants and agreements, (ii) Isoray and Viewpoint each obtaining approval by its stockholders of the Merger and related matters, (iii) any necessary consents or approvals by governmental and regulatory authorities and non-governmental third no The Merger Agreement contains certain restrictions on the conduct of the Company’s and Viewpoint’s respective businesses between the date of signing the Merger Agreement and the earlier of the closing of the Merger or the termination of the Merger Agreement. During such period, Isoray and Viewpoint each must conduct its business in the ordinary course and consistent with past practices in all material respects and may not 8 September 28, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries (collectively the Company). All significant inter-company transactions and balances have been eliminated in consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers currency on hand, demand deposits, time deposits, and all highly liquid investments with an original maturity of three |
Investment, Policy [Policy Text Block] | Investments Investments in debt securities with original maturities greater than three one one June 30, 2022, no |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable are stated at the amount that management of the Company expects to collect from outstanding balances. Management provides for probable uncollectible amounts through an allowance for doubtful accounts. Additions to the allowance for doubtful accounts are based on management’s judgment, considering historical experience with write-offs, collections and current credit conditions. Balances which remain outstanding after management has used reasonable collection efforts are written off through a charge to the allowance for doubtful accounts and a credit to the applicable accounts receivable. Payments received subsequent to the time that an account is written off are treated as bad debt recoveries. |
Inventory, Policy [Policy Text Block] | Inventory Inventory is reported at the lower of cost or net realizable value. Cost of raw materials is determined using the weighted average method. Cost of work in process and finished goods is computed using standard cost, which approximates actual cost, on a first first The cost of materials and production costs contained in inventory that are not no |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and Equipment is capitalized and carried at cost less accumulated depreciation. Depreciation expense is recorded to cost of sales and operating expenses. Normal maintenance and repairs are charged to expense as incurred. When any assets are sold or otherwise disposed of, the cost and accumulated depreciation are reversed with any resulting gain or loss being recognized on the consolidated statement of operations. Depreciation is computed using the straight-line method over the following estimated useful lives: Production equipment (in years) 3 to 7 Office equipment (in years) 2 to 10 Furniture and fixtures (in years) 2 to 10 Leasehold improvements are amortized over the shorter of the lease term or the estimated useful life of the asset. Property and equipment that is acquired but not no Management periodically reviews the net carrying value of all of its long-lived assets on an asset by asset basis. An impairment loss is recognized if the carrying amount of a defined asset group is not Although management has made its best estimate of the factors that affect the carrying value based on current conditions, it is reasonably possible that changes could occur which could adversely affect management’s estimate of net cash flows expected to be generated from its assets that could result in an impairment adjustment. |
Other Assets [Policy Text Block] | Prepaid Expenses and Other Assets Prepaid expenses and other assets, which include website development costs, trademarks, patents and licenses, are stated at cost, less accumulated amortization. For website development, costs incurred in the planning stage are expensed as incurred whereas costs associated with the application and infrastructure development, graphics development, and content development are capitalized. Amortization of website development costs is computed using the straight-line method over the estimated economic useful lives of the asset. Trademarks and patents include costs, primarily legal, incurred in obtaining them. Amortization of trademarks and patents is computed using the straight-line method over the estimated economic useful lives of the assets. Licenses include costs related to licenses pertaining to the use of technology or operational licenses. These licenses are recorded at stated cost, less accumulated amortization. Amortization of licenses is computed using the straight-line method over the estimated economic useful lives of the assets. The Company periodically reviews the carrying values of other assets and evaluates the recorded basis for any impairment. Any impairment is recognized when the expected future operating cash flows to be derived from the licenses are less than their carrying value. |
Asset Retirement Obligation [Policy Text Block] | Asset Retirement Obligation The estimated fair value of the future retirement costs of the Company’s leased assets and the costs for the decontamination and reclamation of equipment located within the leased assets are recorded as a liability on a discounted basis when a contractual obligation exists; an equivalent amount is capitalized to property and equipment. The initial recorded obligation is discounted using the Company's credit-adjusted risk-free rate and is reviewed periodically for changes in the estimated future costs underlying the obligation. The Company amortizes the initial amount capitalized to property and equipment and recognizes accretion expense in connection with the discounted liability over the estimated remaining useful life of the leased assets. Adjustments and changes to either the timing or amount of the original present value estimate underlying the obligation are made in the period incurred. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than a forced liquidation sale. At June 30, 2022 2021, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurement When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 2 3 no At June 30, 2022 2021, no not |
Revenue [Policy Text Block] | Revenue Recognition The Company recognizes revenue based on the five 606, Revenue from Contracts with Customers 1 2 3 4 5 not no 17. |
Shipping and Handling Cost [Policy Text Block] | Shipping and Handling Costs Shipping and handling costs include charges associated with delivery of goods from the Company’s facilities to its customers and are reflected in cost of sales. The Company has elected to account for shipping and handling activities as a fulfillment cost. Shipping and handling costs paid to the Company by its customers are included in revenue. |
Share-Based Payment Arrangement [Policy Text Block] | Share-Based Compensation The Company measures and recognizes expense for all share-based payments at fair value. The Company uses the Black-Scholes option valuation model to estimate fair value for all stock options and stock warrants on the date of grant. For stock options that vest over time, the Company recognizes compensation cost on a straight-line basis over the requisite service period for the entire award. The Company recognizes forfeitures as they occur. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs Research and development costs, including salaries, research materials, administrative expenses and contractor fees, are charged to operations as incurred. The cost of equipment used in research and development activities which has alternative uses is capitalized as part of fixed assets and not |
Advertising Cost [Policy Text Block] | Advertising and Marketing Costs Advertising costs are expensed as incurred except for the cost of tradeshows and related marketing materials which are deferred until the tradeshow occurs. (In thousands) For the Years Ended June 30, 2022 2021 2020 Advertising and marketing costs expensed (including tradeshows) $ 129 $ 84 $ 141 At June 30, 2022 2021 Prepaid marketing expenses deferred until event occurs $ 25 $ 21 |
Commitments and Contingencies, Policy [Policy Text Block] | Legal Contingencies The Company records contingent liabilities resulting from asserted and unasserted claims against it, when it is probable that a liability has been incurred and the amount of the loss is reasonably estimable. Estimating probable losses requires analysis of multiple factors, in some cases including judgments about the potential actions of third not |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the liability method in accordance with ASC 740, Income Taxes not not not two 1 not 2 not 50% |
Lessee, Leases [Policy Text Block] | Leases The Company accounts for its leases under ASC 842, Leases |
Earnings Per Share, Policy [Policy Text Block] | Income (Loss) Per Common Share Basic earnings per share is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding, and does not Securities that could be dilutive in the future are as follows: June 30, 2022 2021 2020 Preferred stock - - 59,065 Common stock warrants 2,645,738 2,645,738 6,080,000 Common stock options 6,914,025 4,514,660 5,497,505 Total potential dilutive securities 9,559,763 7,160,398 11,636,570 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of consolidated financial statements in accordance with GAAP requires management of the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes of the Company including the allowance for doubtful accounts receivable; net realizable value of the enriched barium inventory; the estimated useful lives used in calculating depreciation and amortization on the Company’s fixed assets, patents, trademarks and other assets; estimated amount and fair value of the asset retirement obligation related to the Company’s production facilities; and inputs to the Black-Scholes calculation used in determining the expense related to share-based compensation including volatility and estimated lives of options granted. Accordingly, actual results could differ from those estimates and affect the amounts reported in the financial statements. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Accounting Standards Updates to Become Effective in Future Periods Other accounting standards that have been issued or proposed by FASB that do not not not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Estimated Useful Lives of Assets [Table Text Block] | Production equipment (in years) 3 to 7 Office equipment (in years) 2 to 10 Furniture and fixtures (in years) 2 to 10 |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | For the Years Ended June 30, 2022 2021 2020 Advertising and marketing costs expensed (including tradeshows) $ 129 $ 84 $ 141 At June 30, 2022 2021 Prepaid marketing expenses deferred until event occurs $ 25 $ 21 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | June 30, 2022 2021 2020 Preferred stock - - 59,065 Common stock warrants 2,645,738 2,645,738 6,080,000 Common stock options 6,914,025 4,514,660 5,497,505 Total potential dilutive securities 9,559,763 7,160,398 11,636,570 |
Note 3 - Inventory (Tables)
Note 3 - Inventory (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, Inventory, current 2022 2021 Raw materials $ 911 $ 645 Work in process 462 286 Finished goods 23 49 Total inventory, current $ 1,396 $ 980 |
Schedule of Inventory, Noncurrent [Table Text Block] | June 30, Inventory, non-current 2022 2021 Enriched barium, non-current $ 2,269 $ - Raw materials, non-current 64 76 Total inventory, non-current $ 2,333 $ 76 |
Note 4 - Prepaid Expenses and_2
Note 4 - Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | June 30, 2022 2021 Prepaid insurance $ 122 $ 107 Other prepaid expenses 269 315 Other current assets 27 27 Other receivables 17 32 Total prepaid expenses and other current assets $ 435 $ 481 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2022 2022 2021 Land $ 366 $ 366 Equipment 4,438 4,202 Leasehold improvements 4,143 4,143 Other 1 525 495 Property and equipment 9,472 9,206 Less accumulated depreciation (7,496 ) (7,248 ) Property and equipment, net $ 1,976 $ 1,958 |
Note 7 - Other Assets, Net (Tab
Note 7 - Other Assets, Net (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | June 30, 2022 2021 Website development $ 90 $ 90 Licenses 520 520 Patents and trademarks 378 378 Total Other Assets 988 988 Less: Accumulated Amortization (881 ) (858 ) $ 107 $ 130 Year Ended June 30, 2022 2021 2020 Amortization expense on website development $ 7 $ 7 $ 8 Amortization expense on licenses 18 14 14 Amortization expense on patents and trademarks 16 16 16 Total amortization expense $ 41 $ 37 $ 38 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ended June 30, 2023 $ 42 2024 23 2025 22 2026 10 2027 10 Thereafter - $ 107 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Year Ending June 30, 2023 292 2024 264 Total 556 Less: Imputed interest (32 ) Total Lease Liability 524 Less current portion (268 ) Non-current Lease Liability $ 256 |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Year ended June 30, 2022 2021 Beginning balance $ 608 $ 577 Accretion of discount 32 31 Ending Balance $ 640 $ 608 |
Note 9 - Share-Based Compensa_2
Note 9 - Share-Based Compensation (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Year Ended June 30, 2022 2021 2020 Weighted average fair value $0.55 $0.86 $0.39 Options issued 3,269,100 400,000 1,330,000 Exercise price $0.28 to $0.79 $0.64 to $1.66 $0.32 to $0.61 Expected term (in years) 5 5 5 Risk-free rate 0.73% to 3.24% 0.22% to 0.94% .33% to 1.80% Volatility 99% - 100% 83% - 100% 83% - 89% |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | For the Year Ended June 30, 2022 2021 2020 Cost of sales $ 80 $ 30 $ 21 Research and development expense 244 104 111 Sales and marketing expense 47 49 125 General and administrative expense 716 203 238 Total share-based compensation $ 1,087 $ 386 $ 495 |
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Options Outstanding Price (a) Life (b) Value (c) Balance at June 30, 2019 4,645,315 $ 0.64 7.95 $ 1 Granted (d) 1,330,000 0.61 Expired (192,810 ) 1.33 Forfeited (22,500 ) 0.42 Exercised (262,500 ) 0.49 Balance at June 30, 2020 5,497,505 $ 0.62 7.85 $ 233 Granted (d) 400,000 1.18 Expired (149,405 ) 1.07 Forfeited (263,125 ) 0.53 Exercised (970,315 ) 0.55 Balance at June 30, 2021 4,514,660 $ 0.67 7.27 $ 984 Granted (d) 3,269,100 0.75 Expired (256,060 ) 0.84 Forfeited (488,675 ) 0.79 Exercised (125,000 ) 0.45 Balance at June 30, 2022 6,914,025 $ 0.70 7.43 $ 2 Vested and expected to vest at June 30, 2022 6,914,025 $ 0.70 7.43 $ 2 Exercisable at June 30, 2022 4,432,121 $ 0.66 6.58 $ 1 For the Year Ended June 30, 2022 2021 2020 Aggregate intrinsic value of options exercised (in thousands) $ 3 $ 770 $ 83 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block] | Warrants issued 9,134,615 Exercise price $0.57 Expected term (in years) 5 Risk-free rate 0.38% Volatility 85% |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants Price (a) Balance at June 30, 2019 6,080,000 $ 0.75 Balance at June 30, 2020 6,080,000 $ 0.75 Warrants issued 9,134,615 0.57 Warrants exercised (12,318,877 ) 0.63 Warrants expired (250,000 ) 0.54 Balance at June 30, 2021 2,645,738 $ 0.70 Warrants issued - - Warrants exercised - - Warrants expired - - Balance at June 30, 2022 2,645,738 $ 0.70 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of June 30, 2022 2021 Fixed assets $ 9 $ 55 Share-based compensation 525 563 Other accruals 106 49 Asset retirement obligation 134 128 Research credit carryforwards 389 277 Other 7 6 Net operating loss carryforwards 17,904 16,568 Total deferred tax assets 19,074 17,646 Valuation allowance (19,074 ) (17,646 ) Total $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the year ended June 30, 2022 2021 2020 U.S. federal statutory income tax rate 21 % 21 % 21 % Expected income tax benefit $ (1,522 ) $ (711 ) $ (724 ) Meals and entertainment 14 6 8 Non-deductible penalties 25 22 24 Change in estimate (9 ) 28 (58 ) Incentive stock options 126 48 - Research credit (62 ) (52 ) 11 Change in valuation allowance 1,428 659 739 Income tax expense (benefit) $ - $ - $ - |
Note 16 - Quarterly Financial_2
Note 16 - Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Quarters ended September 30, December 31, March 31, June 30, 2021 2021 2022 2022 Net revenue $ 2,564 $ 2,816 $ 2,910 $ 2,505 Gross profit $ 1,029 $ 1,220 $ 1,441 $ 926 Net loss $ (2,243 ) $ (1,604 ) $ (1,347 ) $ (2,078 ) Net loss per share – basic and diluted $ (0.02 ) $ (0.01 ) $ (0.01 ) $ (0.01 ) Shares used in basic and diluted per share calculation 141,915 141,955 142,040 142,040 Quarters ended September 30, December 31, March 31, June 30, 2020 2020 2021 2021 Net revenue $ 2,384 $ 2,359 $ 2,600 $ 2,710 Gross profit/(loss) $ 1,246 $ 1,167 $ 1,362 $ 1,346 Net loss $ (713 ) $ (868 ) $ (745 ) $ (1,061 ) Net loss per share – basic and diluted $ (0.01 ) $ (0.01 ) $ (0.01 ) $ (0.01 ) Shares used in basic and diluted per share calculation 68,898 83,047 122,566 141,673 |
Note 17 - Contracts With Cust_2
Note 17 - Contracts With Customers (Tables) | 12 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Year ended June 30, Facility 2022 % of total revenue 2021 % of total revenue 2020 % of total revenue El Camino, Los Gatos, & other facilities (1) 27.9 % 25.3 % 26.8 % GT Medical Technologies 14.2 % 11.3 % <10.0 % Year ended June 30, Facility 2022 % of total accounts receivable 2021 % of total accounts receivable 2020 % of total accounts receivable GT Medical Technologies <10.0 % 10.2 % <10.0 % |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies - Estimated Useful Lives (Details) | 12 Months Ended |
Jun. 30, 2022 | |
Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 3 years |
Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 7 years |
Office Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 2 years |
Office Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 10 years |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 2 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, Plant and Equipment, Useful Life (Year) | 10 years |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Advertising and Marketing Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Advertising and marketing costs expensed (including tradeshows) | $ 129 | $ 84 | $ 141 |
Prepaid marketing expenses deferred until event occurs | $ 25 | $ 21 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Antidilutive Securities (Details) - shares | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Antidilutive Securities (in shares) | 9,559,763 | 7,160,398 | 11,636,570 |
Preferred Stocks [Member] | |||
Antidilutive Securities (in shares) | 0 | 0 | 59,065 |
Warrant [Member] | |||
Antidilutive Securities (in shares) | 2,645,738 | 2,645,738 | 6,080,000 |
Share-Based Payment Arrangement, Option [Member] | |||
Antidilutive Securities (in shares) | 6,914,025 | 4,514,660 | 5,497,505 |
Note 3 - Inventory (Details Tex
Note 3 - Inventory (Details Textual) - Enriched Barium Inventory [Member] - USD ($) | Sep. 09, 2021 | Mar. 31, 2022 |
Payments to Suppliers | $ 720,000 | |
Purchase Agreement One [Member] | ||
Agreements, Payable to Suppliers | $ 876,357 | |
Purchase Agreement Two [Member] | ||
Agreements, Payable to Suppliers | $ 957,608 |
Note 3 - Inventory - Current In
Note 3 - Inventory - Current Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Raw materials | $ 911 | $ 645 |
Work in process | 462 | 286 |
Finished goods | 23 | 49 |
Total inventory, current | $ 1,396 | $ 980 |
Note 3 - Inventory - Noncurrent
Note 3 - Inventory - Noncurrent Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Total inventory, non-current | $ 2,333 | $ 76 |
Enriched Barium Inventory [Member] | ||
Total inventory, non-current | 2,269 | 0 |
Raw Materials [Member] | ||
Total inventory, non-current | $ 64 | $ 76 |
Note 4 - Prepaid Expenses and_3
Note 4 - Prepaid Expenses and Other Current Assets - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Prepaid insurance | $ 122 | $ 107 |
Other prepaid expenses | 269 | 315 |
Other current assets | 27 | 27 |
Other receivables | 17 | 32 |
Total prepaid expenses and other current assets | $ 435 | $ 481 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Depreciation, Total | $ 248,000 | $ 149,000 | $ 147,000 |
Other [Member] | |||
Depreciation, Total | 0 | ||
Construction in Progress [Member] | |||
Capitalized Costs Related to Advance Planning and Design Work | $ 207,000 | $ 207,000 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 | |
Property and equipment, gross | $ 9,472 | $ 9,206 | |
Less accumulated depreciation | (7,496) | (7,248) | |
Property and equipment, net | 1,976 | 1,958 | |
Land [Member] | |||
Property and equipment, gross | 366 | 366 | |
Equipment [Member] | |||
Property and equipment, gross | 4,438 | 4,202 | |
Leasehold Improvements [Member] | |||
Property and equipment, gross | 4,143 | 4,143 | |
Other [Member] | |||
Property and equipment, gross | [1] | $ 525 | $ 495 |
[1]Plant and equipment, not placed in service are items that meet the capitalization threshold or which management believes will meet the threshold at the time of completion and which have yet to be placed into service as of the date of the balance sheet, and therefore, no depreciation expense has been recognized. Also included at June 30, 2022 and 2021 are costs associated with advance planning and design work on the Company’s new production facility of approximately $207,000. The advance planning and design work was primarily incurred in fiscal year 2017. The new production facility is currently on hold as the Company has sufficient production capacity to meet future demands and while the Company focuses its resources on revenue growth. It is anticipated that the Company will continue work on the new production facility process in the next three to five years. |
Note 6 - Restricted Cash (Detai
Note 6 - Restricted Cash (Details Textual) | Jun. 30, 2022 USD ($) |
Restricted Cash and Cash Equivalents, Total | $ 182,000 |
Note 7 - Other Assets, Net - Ot
Note 7 - Other Assets, Net - Other Assets, Net of Accumulated Amortization (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Finite-Lived Intangible Assets, Gross | $ 988 | $ 988 | |
Less: Accumulated Amortization | (881) | (858) | |
Other assets, net | 107 | 130 | |
Amortization of Intangible Assets | 41 | 37 | $ 38 |
Computer Software, Intangible Asset [Member] | |||
Finite-Lived Intangible Assets, Gross | 90 | 90 | |
Amortization of Intangible Assets | 7 | 7 | 8 |
Licensing Agreements [Member] | |||
Finite-Lived Intangible Assets, Gross | 520 | 520 | |
Amortization of Intangible Assets | 18 | 14 | 14 |
Intellectual Property [Member] | |||
Finite-Lived Intangible Assets, Gross | 378 | 378 | |
Amortization of Intangible Assets | $ 16 | $ 16 | $ 16 |
Note 7 - Other Assets, Net - Fu
Note 7 - Other Assets, Net - Future Amortization (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Year ended June 30, 2023 | $ 42 | |
2024 | 23 | |
2025 | 22 | |
2026 | 10 | |
2027 | 10 | |
Thereafter | 0 | |
Other assets, net | $ 107 | $ 130 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) | 1 Months Ended | 12 Months Ended | ||||
Apr. 30, 2024 USD ($) | Jul. 31, 2019 USD ($) | Jun. 30, 2022 USD ($) ft² | Jun. 30, 2021 USD ($) | Jun. 30, 2020 USD ($) | Jul. 01, 2019 USD ($) | |
Operating Lease, Right-of-Use Asset | $ 512,000 | $ 768,000 | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 6% | |||||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 1 year 9 months 18 days | |||||
Operating Lease, Expense | $ 312,000 | 304,000 | $ 294,000 | |||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |||||
ARO Original Obligation Amount | $ 704,000 | |||||
ARO Discount Amount Interest Rate | 5.10% | |||||
Asset Retirement Obligation, After Adjustment | $ 555,000 | |||||
Gain (Loss) on Change in ARO Estimate | $ 73,000 | 0 | 0 | 73,000 | ||
Cost of Sales [Member] | ||||||
Operating Lease, Expense | 198,000 | 195,000 | 187,000 | |||
General and Administrative Expense [Member] | ||||||
Operating Lease, Expense | $ 114,000 | $ 109,000 | $ 107,000 | |||
Forecast [Member] | ||||||
Termination of Lease, Penalty | $ 20,000 | |||||
Accounting Standards Update 2016-02 [Member] | ||||||
Operating Lease, Right-of-Use Asset | $ 1,200,000 | |||||
Operating Lease, Weighted Average Discount Rate, Percent | 6% | |||||
Applied Process Engineering Laboratory [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 15,000 |
Note 8 - Leases - Future Operat
Note 8 - Leases - Future Operating Lease Payments and Lease Liability (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
2023 | $ 292 | |
2024 | 264 | |
Total | 556 | |
Less: Imputed interest | (32) | |
Total Lease Liability | 524 | |
Less current portion | (268) | $ (252) |
Non-current Lease Liability | $ 256 | $ 524 |
Note 8 - Leases - Asset Retirem
Note 8 - Leases - Asset Retirement Obligation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Beginning balance | $ 608 | $ 577 | |
Accretion of discount | 32 | 31 | $ 29 |
Ending Balance | $ 640 | $ 608 | $ 577 |
Note 9 - Share-Based Compensa_3
Note 9 - Share-Based Compensation (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 07, 2021 | Jun. 30, 2022 | Jun. 30, 2017 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 966,000 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 11 months 15 days | ||
Share-Based Payment Arrangement, Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 5 years | ||
The 2017 Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 4,000,000 | ||
Amended 2020 Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 16,000,000 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 10,000,000 |
Note 9 - Share-based Compensa_4
Note 9 - Share-based Compensation - Assumptions (Details) - $ / shares | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Weighted average fair value (in dollars per share) | $ 0.55 | $ 0.86 | $ 0.39 |
Options issued (in shares) | 3,269,100 | 400,000 | 1,330,000 |
Expected term (in years) (Year) | 5 years | 5 years | 5 years |
Minimum [Member] | |||
Exercise price (in dollars per share) | $ 0.28 | $ 0.64 | $ 0.32 |
Risk-free rate | 0.73% | 0.22% | 33% |
Volatility | 99% | 83% | 83% |
Maximum [Member] | |||
Exercise price (in dollars per share) | $ 0.79 | $ 1.66 | $ 0.61 |
Risk-free rate | 3.24% | 0.94% | 1.80% |
Volatility | 100% | 100% | 89% |
Note 9 - Share-Based Compensa_5
Note 9 - Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based compensation | $ 1,087 | $ 386 | $ 495 |
Cost of Sales [Member] | |||
Share-based compensation | 80 | 30 | 21 |
Research and Development Expense [Member] | |||
Share-based compensation | 244 | 104 | 111 |
Selling and Marketing Expense [Member] | |||
Share-based compensation | 47 | 49 | 125 |
General and Administrative Expense [Member] | |||
Share-based compensation | $ 716 | $ 203 | $ 238 |
Note 9 - Share-Based Compensa_6
Note 9 - Share-Based Compensation - Summary of Stock Option (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | ||||
Balance, Options (in shares) | 4,514,660 | 5,497,505 | 4,645,315 | ||||
Balance, Price (in dollars per share) | [1] | $ 0.67 | $ 0.62 | $ 0.64 | |||
Balance, Life (Year) | [2] | 7 years 5 months 4 days | 7 years 3 months 7 days | 7 years 10 months 6 days | 7 years 11 months 12 days | ||
Balance, Value | [3] | $ 2 | $ 984 | $ 233 | $ 1 | ||
Granted, Options (in shares) | [4] | 3,269,100 | 400,000 | 1,330,000 | |||
Granted, Price (in dollars per share) | [1],[4] | $ 0.75 | $ 1.18 | $ 0.61 | |||
Expired, Options (in shares) | (256,060) | (149,405) | (192,810) | ||||
Expired, Price (in dollars per share) | $ 0.84 | $ 1.07 | [1] | $ 1.33 | [1] | ||
Forfeited, Options (in shares) | (488,675) | (263,125) | (22,500) | ||||
Forfeited, Price (in dollars per share) | $ 0.79 | $ 0.53 | [1] | $ 0.42 | [1] | ||
Exercised, Options (in shares) | (125,000) | (970,315) | (262,500) | ||||
Exercised, Price (in dollars per share) | [1] | $ 0.45 | $ 0.55 | $ 0.49 | |||
Balance, Options (in shares) | 6,914,025 | 4,514,660 | 5,497,505 | 4,645,315 | |||
Balance, Price (in dollars per share) | [1] | $ 0.70 | $ 0.67 | $ 0.62 | $ 0.64 | ||
Vested and expected to vest, Options (in shares) | 6,914,025 | ||||||
Vested and expected to vest, Price (in dollars per share) | [1] | $ 0.70 | |||||
Vested and expected to vest, Life (Year) | [2] | 7 years 5 months 4 days | |||||
Vested and expected to vest, Value | [3] | $ 2 | |||||
Exercisable, Options (in shares) | 4,432,121 | ||||||
Exercisable, Price (in dollars per share) | [1] | $ 0.66 | |||||
Exercisable, Life (Year) | [2] | 6 years 6 months 29 days | |||||
Exercisable, Value | [3] | $ 1 | |||||
Aggregate intrinsic value of options exercised (in thousands) | $ 3 | $ 770 | $ 83 | ||||
[1]Weighted average exercise price per share.[2]Weighted average remaining contractual life.[3]Aggregate intrinsic value (in thousands).[4]All options granted had exercise prices equal to or greater than the ending closing market price of the Company's common stock on the grant date. The options were granted to employees and management by the Compensation Committee and had vesting periods from immediate to five years. |
Note 10 - Stockholders' Equit_2
Note 10 - Stockholders' Equity (Details Textual) - USD ($) | 12 Months Ended | |||||||||
Feb. 08, 2021 | Oct. 22, 2020 | Mar. 31, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Jan. 23, 2020 | Jun. 30, 2019 | ||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | ||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | 0.001 | 0.001 | ||||||||
Maximum Amount of Equity Securities That Could be Registered | $ 80,000,000 | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 36,000,000 | 18,269,230 | ||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.25 | $ 0.52 | ||||||||
Proceeds from Issuance of Common Stock | $ 51,750,000 | $ 9,500,000 | ||||||||
Proceeds from Issuance of Common Stock, Net of Issuance Costs | 47,904,000 | $ 8,471,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | [1] | $ 0.70 | $ 0.70 | $ 0.75 | $ 0.75 | |||||
Proceeds from Warrant Exercises | $ 0 | $ 7,784,000 | $ 0 | |||||||
Class of Warrant or Right, Exercised During Period (in shares) | 0 | 12,318,877 | ||||||||
Proceeds from Stock Options Exercised | $ 56,000 | $ 534,000 | $ 131,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 125,000 | 970,315 | 262,500 | |||||||
Preferred Stock, Shares Authorized (in shares) | 7,000,000 | 7,000,000 | ||||||||
Class of Warrant or Right, Issued During Period (in shares) | 0 | 9,134,615 | ||||||||
Class of Warrant or Right, Outstanding (in shares) | 2,645,738 | 2,645,738 | 6,080,000 | 6,080,000 | ||||||
Series B Preferred Stock Converted into Common Stock [Member] | ||||||||||
Conversion of Stock, Shares Converted (in shares) | 59,065 | |||||||||
Conversion of Stock, Shares Issued (in shares) | 59,065 | |||||||||
Series A Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | |||||||||
Series B Preferred Stock [Member] | ||||||||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | ||||||||
Preferred Stock, Shares Issued, Total (in shares) | 0 | 0 | ||||||||
Cumulative Dividends | $ 9,000 | |||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | ||||||||
Preferred Stock, Amount of Preferred Dividends in Arrears | $ 0 | $ 0 | ||||||||
Underwritten Offering [Member] | ||||||||||
Proceeds from Issuance of Common Stock | $ 45,000,000 | $ 0 | $ 56,375,000 | $ 0 | ||||||
Over-Allotment Option [Member] | ||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 5,400,000 | |||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.25 | |||||||||
Proceeds from Issuance of Common Stock | $ 6,750,000 | |||||||||
Warrants Issued with Common Stock Issuance [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 9,134,615 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.57 | |||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||||
Warrants Exercisable on or Before July 10, 2023 [Member] | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 272,250 | |||||||||
Warrants Exercisable on or Before January 11, 2024 [Member] | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 1,375,000 | |||||||||
Warrants Exericsable on or Before October 22, 2025 [Member] | ||||||||||
Class of Warrant or Right, Outstanding (in shares) | 998,488 | |||||||||
Oppenheimer & Co [Member] | ||||||||||
Sale of Stock, Commission Rate | 3% | |||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 1,247,232 | ||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.738 | |||||||||
Proceeds from Issuance of Common Stock | $ 920,000 | |||||||||
Proceeds from Issuance of Common Stock, Net of Issuance Costs | $ 874,000 | |||||||||
[1]Weighted average exercise price per share. |
Note 10 - Shareholders' Equity
Note 10 - Shareholders' Equity - Fair Value Assumption of Warrant (Details) - $ / shares | 12 Months Ended | ||||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Warrants issued (in shares) | 0 | 9,134,615 | |||
Exercise price (in dollars per share) | [1] | $ 0.70 | $ 0.70 | $ 0.75 | $ 0.75 |
Warrant [Member] | |||||
Warrants issued (in shares) | 9,134,615 | ||||
Exercise price (in dollars per share) | $ 0.57 | ||||
Expected term (in years) (Year) | 5 years | ||||
Risk-free rate | 0.38% | ||||
Volatility | 85% | ||||
[1]Weighted average exercise price per share. |
Note 10 - Stockholders' Equit_3
Note 10 - Stockholders' Equity - Warrant Activity (Details) - $ / shares | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | |||
Balance (in shares) | 2,645,738 | 6,080,000 | ||
Balance (in dollars per share) | [1] | $ 0.70 | $ 0.75 | |
Warrants issued (in shares) | 0 | 9,134,615 | ||
Warrants issued (in dollars per share) | [1] | $ 0 | $ 0.57 | |
Warrants exercised (in shares) | 0 | (12,318,877) | ||
Warrants exercised (in dollars per share) | $ 0 | $ 0.63 | [1] | |
Warrants expired (in shares) | 0 | (250,000) | ||
Warrants expired (in dollars per share) | $ 0 | $ 0.54 | [1] | |
Warrants exercised (in shares) | 0 | 12,318,877 | ||
Warrants expired (in shares) | 0 | 250,000 | ||
Balance (in shares) | 2,645,738 | 2,645,738 | ||
Balance (in dollars per share) | [1] | $ 0.70 | $ 0.70 | |
[1]Weighted average exercise price per share. |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 |
Deferred Tax Assets, Valuation Allowance, Percentage | 100% | 100% | |
Operating Loss Carryforwards, Total | $ 67,500 | ||
Operating Loss Carryforwards, With No Expiration | $ 17,700 | ||
Open Tax Year | 2020 2021 2022 | ||
Research Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | $ 400 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Components (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Jun. 30, 2021 |
Fixed assets | $ 9 | $ 55 |
Share-based compensation | 525 | 563 |
Other accruals | 106 | 49 |
Asset retirement obligation | 134 | 128 |
Research credit carryforwards | 389 | 277 |
Other | 7 | 6 |
Net operating loss carryforwards | 17,904 | 16,568 |
Total deferred tax assets | 19,074 | 17,646 |
Valuation allowance | (19,074) | (17,646) |
Total | $ 0 | $ 0 |
Note 11 - Income Taxes - Reconc
Note 11 - Income Taxes - Reconciliation of Income Tax Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
U.S. federal statutory income tax rate | 21% | 21% | 21% |
Expected income tax benefit | $ (1,522) | $ (711) | $ (724) |
Meals and entertainment | 14 | 6 | 8 |
Non-deductible penalties | 25 | 22 | 24 |
Change in estimate | (9) | 28 | (58) |
Incentive stock options | 126 | 48 | 0 |
Research credit | (62) | (52) | 11 |
Change in valuation allowance | 1,428 | 659 | 739 |
Income tax expense (benefit) | $ 0 | $ 0 | $ 0 |
Note 12 - 401(k) and Profit S_2
Note 12 - 401(k) and Profit Sharing Plan (Details Textual) - Other Pension, Postretirement and Supplemental Plans [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 50% | |
Defined Contribution Plan, Employer Matching Contribution, First Percent of Contributions Used in Company Match | 4% | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 2% | |
Liability, Defined Benefit Plan, Total | $ 61,000 | $ 0 |
Note 15 - Concentrations of C_2
Note 15 - Concentrations of Credit and Other Risks (Details Textual) - USD ($) | Jun. 30, 2022 | Jun. 30, 2021 |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 26,000 | $ 26,000 |
Note 16 - Quarterly Financial_3
Note 16 - Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | ||||||||||
Net revenue | [1] | $ 2,505 | $ 2,910 | $ 2,816 | $ 2,564 | $ 2,710 | $ 2,600 | $ 2,359 | $ 2,384 | |||||||||||
Gross profit | 926 | [1] | 1,441 | [1] | 1,220 | [1] | 1,029 | [1] | 1,346 | [1] | 1,362 | [1] | 1,167 | [1] | 1,246 | [1] | $ 4,616 | $ 5,121 | $ 5,124 | |
Net loss | $ (2,078) | [1] | $ (1,347) | [1] | $ (1,604) | [1] | $ (2,243) | [1] | $ (1,061) | [1] | $ (745) | [1] | $ (868) | [1] | $ (713) | [1] | $ (7,272) | $ (3,387) | $ (3,446) | |
Net loss per share – basic and diluted (in dollars per share) | $ (0.01) | [1] | $ (0.01) | [1] | $ (0.01) | [1] | $ (0.02) | [1] | $ (0.01) | [1] | $ (0.01) | [1] | $ (0.01) | [1] | $ (0.01) | [1] | $ (0.05) | $ (0.03) | $ (0.05) | |
Shares used in basic and diluted per share calculation (in shares) | 142,040 | [1] | 142,040 | [1] | 141,955 | [1] | 141,915 | [1] | 141,673 | [1] | 122,566 | [1] | 83,047 | [1] | 68,898 | [1] | 141,987 | 103,841 | 67,601 | |
[1]Due to rounding, the total of the individual quarters and the year-end calculation on the Consolidated Statement of Operations may be different. |
Note 17 - Contracts With Cust_3
Note 17 - Contracts With Customers (Details Textual) | 12 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Restocking Fee, Percentage | 50% | ||
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Prostate Brachytherapy [Member] | |||
Concentration Risk, Percentage | 75% | 78% | 86% |
Revenue Benchmark [Member] | Product Concentration Risk [Member] | Product and Service, Other [Member] | |||
Concentration Risk, Percentage | 25% | 22% | 14% |
Geographic Distribution, Foreign [Member] | Revenue Benchmark [Member] | Geographic Concentration Risk [Member] | Maximum [Member] | |||
Concentration Risk, Percentage | 0.10% | 0.10% |
Note 17 - Contracts With Cust_4
Note 17 - Contracts With Customers - Concentration of Customers (Details) - Customer Concentration Risk [Member] | 12 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenue Benchmark [Member] | El Camino, Los Gatos, & Other Facilities [Member] | ||||
Concentration risk | [1] | 27.90% | 25.30% | 26.80% |
Revenue Benchmark [Member] | GT Medical Technologies, Inc. [Member] | ||||
Concentration risk | 14.20% | 11.30% | 10% | |
Accounts Receivable [Member] | GT Medical Technologies, Inc. [Member] | ||||
Concentration risk | 10% | 10.20% | 10% | |
[1]The head of the single largest physician practice also serves as the Company’s medical director. As the medical director, this physician advises the Company Board of Directors and management, provides technical advice related to product development and research and development, and provides internal training to the Company sales staff and professional training to our sales staff and to other physicians. None of these facilities individually make up more than 10% of our revenue or accounts receivable. On September 20, 2022, we received notice from our medical director of his resignation from such position. |
Note 18 - Related Parties (Deta
Note 18 - Related Parties (Details Textual) | 12 Months Ended |
Jun. 30, 2022 USD ($) | |
SphereRx, LLC [Member] | Payments to Suppliers in Russia [Member] | |
Related Party Transaction, Amounts of Transaction | $ 2,389,787 |
Note 19 - Subsequent Events (De
Note 19 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Viewpoint Molecular Targeting, Inc. [Member] - Isoray Acquisition Corp. [Member] | Sep. 27, 2022 shares | Sep. 26, 2022 |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Per Share (in shares) | 3.3212 | |
Business Acquisition, Percentage of Voting Interests Acquired | 49% | |
Number of Board of Directors | 4 | |
Number of Board of Directors Appointed by Parent Company | 3 | |
Number of Board of Directors Appointed by Acquirer | 2 | |
Minimum [Member] | ||
Number of Board of Directors | 5 |