Equity Transactions (Tables)

12 Months Ended

Jun. 30, 2022

Equity Transactions

Schedule of estimation of estimated the fair value of the warrants granted

For the year ended June 30, 2022, the Company estimated the fair value of the warrants granted quarterly to the Scientific Advisory Board on the date of grant using the Black-Scholes Option-Pricing Model with the following weighted-average assumptions:

Expected life (year)	4
Expected volatility	86.00-91.00	%
Expected annual rate of quarterly dividends	0.00	%
Risk-free rate(s)	0.62-.2.84	%

For the year ended June 30, 2021, the Company estimated the fair value of the warrants granted quarterly to the Scientific Advisory Board on the date of grant using the Black-Scholes Option-Pricing Model with the following weighted-average assumptions:
​

Expected life (year)	4
Expected volatility	91.14-91.92	%
Expected annual rate of quarterly dividends	0.00	%
Risk-free rate(s)	0.24-.58	%

Schedule of proceeds of the offering

The Company accounted for the proceeds of the offering at July 10, 2020 as follows:

Gross proceeds	$	11,499,997
Less: offering costs and expenses		(1,057,781)
Net proceeds from issuance of common stock	$	10,442,216

The Company accounted for the proceeds of the ATM Offering at March 2, 2021 as follows:

Gross proceeds	$	6,374,211
Less: offering costs and expenses		(252,730)
Net proceeds from issuance of common stock	$	6,121,481