Summary of Significant Accounting Policies (Tables)

6 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies [Abstract]

Effect of Revision of Financial Statements

The following tables present the effect of the revision on the condensed consolidated balance sheet as of June 30, 2023, the condensed consolidated statements of operations for the three and six months ended December 31, 2022, and the condensed consolidated statement of cash flows for the six months ended December 31, 2022.

	As of June 30, 2023
	As Previously Reported	Revision	As Revised
Condensed consolidated balance sheet:
Prepaid expenses and other current assets	284,622	717,892	1,002,514
Total current assets	28,380,967	717,892	29,098,859
Total assets	38,370,805	717,892	39,088,697
Accrued liabilities	970,530	371,509	1,342,039
Total current liabilities	2,011,817	371,509	2,383,326
Total liabilities	6,909,910	371,509	7,281,419
Retained earnings	18,300,728	346,383	18,647,111
Total stockholders' equity	31,460,895	346,383	31,807,278

	Three Months Ended December 31, 2022			Six Months Ended December 31, 2022
	As Previously Reported	Revision	As Revised	As Previously Reported	Revision	As Revised
Condensed consolidated statements of operations:
Selling, general and administrative expenses	2,483,377	(689)	2,482,688	26,163,573	(5,668)	26,157,905
(Loss) from operations	(1,347,813)	689	(1,347,124)	(23,832,185)	5,668	(23,826,517)
(Loss) income before income tax provision	(1,249,981)	689	(1,249,292)	9,292,703	5,668	9,298,371
Net (loss) income	(1,146,879)	689	(1,146,190)	8,797,864	5,668	8,803,532
(Loss) income per common share:
Basic	(0.12)		(0.12)	0.96		0.96
Diluted	(0.12)		(0.12)	0.90		0.90

	Six Months Ended December 31, 2022
	As Previously Reported	Revision	As Revised
Condensed consolidated statement of cash flows:
Net income	8,797,864	5,668	8,803,532
Prepaid expenses and other current assets	(153,168)	(11,335)	(164,503)
Accrued liabilities	726,825	5,668	732,493
Net cash (used in) provided by operating activities	10,538,583	-	10,538,583

The effect of this revision on the opening balances within the Company's condensed consolidated statements of stockholders' equity for the three and six months ended December 31, 2023 and 2022 was as follows:

	As Previously Reported	Revision	As Revised
Retained earnings, June 30, 2022	9,998,348	329,551	10,327,899
Total stockholders' equity, June 30, 2022	22,697,489	329,551	23,027,040
Retained earnings, September 30, 2022	19,943,091	334,530	20,277,621
Total stockholders' equity, September 30, 2022	32,800,707	334,530	33,135,237
Retained earnings, June 30, 2023	18,300,728	346,383	18,647,111
Total stockholders' equity, June 30, 2023	31,460,895	346,383	31,807,278
Retained earnings, September 30, 2023	18,043,119	346,383	18,389,502
Total stockholders' equity, September 30, 2023	31,250,078	346,383	31,596,461

Schedule of Deferred Tax Assets and Liabilities

	December 31, 2023		June 30, 2023
Deferred income tax assets:
Deferred compensation	$	516,932	$	491,608
Stock-based compensation		77,530		117,607
Accrued expenses and reserves		549,015		571,719
Deferred revenue		108,033		138,665
Federal and state net operating loss carryforwards		8,260,294		8,216,671
IRC Section 174 research and development costs		113,521		63,855
Credit carryforwards		188,893		169,552
Equipment and leasehold improvements		107,258		136,294
Lease liability		684,670		744,431
Valuation allowance		(9,893,613)		(9,906,018)
Total deferred income tax assets		712,533		744,384
Deferred income tax liabilities:
ROU asset		(680,737)		(742,386)
Other		(31,796)		(1,998)
Total deferred income tax liabilities		(712,533)		(744,384)
Net deferred income tax assets	$	-	$	-