XML 29 R19.htm IDEA: XBRL DOCUMENT v3.24.0.1
Employee Benefit Plan
6 Months Ended
Dec. 31, 2023
Employee Benefit Plan  
Employee Benefit Plan

 

13.Employee Benefit Plan

 

On August 1, 2021, the Company began sponsoring an employee benefit plan subject to Section 401(K) of the Internal Revenue Service Code (the “401K Plan”) pursuant to which, all employees meeting eligibility requirements are able to participate.

 

Subject to certain limitations in the Internal Revenue Code, eligible employees are permitted to make contributions to the 401K Plan on a pre-tax salary reduction basis and the Company will match 5% of the first 5% of an employee’s contributions to the 401K Plan., The Company made contributions of approximately $20,500 and $19,000, for the three months ended December 31, 2023 and 2022, respectively. The Company made contributions of approximately $51,400 and $64,200, for the six months ended December 31, 2023 and 2022, respectively.