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Stock-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2024
Stock-Based Compensation [Abstract]  
Schedule of Restricted Stock Awards The following is a schedule summarizing restricted stock awards for the periods indicated:
   Number of
Shares
   Weighted
Average
 Grant Date
 Fair Value
 Per Share
 
Outstanding at July 1, 2022   344,426   $1.90 
Granted   150,000    2.00 
Vested   (419,133)   1.92 
Forfeited   
-
    
-
 
Outstanding at June 30, 2023   75,293   $1.97 
Granted   
-
    
-
 
Vested   (64,696)   1.98 
Forfeited   
-
    
-
 
Outstanding at June 30, 2024   10,597   $1.90 
Schedule of Estimates the Fair Value of Each Option Award The Company used the following assumptions for to estimate the fair value of stock options for the period presented:
   Year Ended June 30, 
   2024   2023 
Weighted-average fair value  $2.52   $2.45 
Expected volatility   105% - 114%    100% - 134% 
Expected term   5.0 years - 6.2 years    5.0 years - 7.0 years 
Dividend yield   0.00%   0.00%
Risk-free interest rate   3.94% - 4.92%    1.26% - 4.24% 
Schedule of Stock Option Activity The following is a schedule summarizing stock option activities for the periods presented:
   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at July 1, 2023   1,034,000   $2.31   $639,775 
Granted   120,821    3.01      
Exercised   
-
    
-
      
Expired/cancelled   (201,000)   2.08      
Outstanding at June 30, 2024   953,821   $2.45   $1,087,178 
Exercisable at June 30, 2024   550,116   $2.36   $673,901 
(1)Represents the excess of the fair value on the last day of period (which was $3.59 as of June 30, 2024) over the exercise price, multiplied by the number of options.
   Number of
Options
   Weighted
Average
Exercise Price
   Aggregate
Intrinsic
Value (1)
 
Outstanding at July 1, 2022   817,750   $2.00   $
-
 
Granted   471,250    2.68      
Exercised   
-
    
-
      
Expired/cancelled   (255,000)   2.00      
Outstanding at June 30, 2023   1,034,000   $2.31   $639,775 
Exercisable at June 30, 2023   360,060   $2.05   $309,248 
(1)Represents the excess of the fair value on the last day of period (which was $2.90 as of June 30, 2023) over the exercise price, multiplied by the number of options.