Warrants (Details) - USD ($)
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1 Months Ended |
3 Months Ended |
12 Months Ended |
Dec. 29, 2022 |
Sep. 23, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Warrants [Line Items] |
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Adjusted exercise price (in Dollars per share) |
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$ 0.1324
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$ 0.25
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Warrant issued |
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650,000
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4,000,000
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Volatility rate |
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121.75%
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143.39%
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124.86%
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121.75%
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143.39%
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Risk-free rate |
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4.38%
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4.06%
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1.25%
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Warrant, description |
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Certain
warrants in the below table include dilution protection for the warrant holders, which could cause the exercise price to be adjusted either
higher or lower as a result of various financing events and stock transactions. The result of the warrant exercise price downward
adjustment on modification date is treated as a deemed dividend and fully amortized on the transaction date. In addition to the reduction
in exercise price, with certain warrants there is a corresponding increase to the number of warrants to the holder on a prorated basis.
Under certain conditions, such as the successful retirement of a convertible note through repayment, it is possible for the exercise price
of these warrants to increase and for the number of warrants outstanding to decrease.
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Cumulative promissory notes share |
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12,870,000
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Aggregate of shares |
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6,549,128
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Stock purchase warrants |
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4,928,260
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Purchase warrants, description |
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During the
fiscal year ended June 30, 2023 the Company issued 1,871,800 warrants to various subscribers under its Tier 2 offering pursuant to
Regulation A (also known as “Regulation A+”) pursuant to which the Company is offering up to 5,000,000 units at a price
of $0.50 per unit, each unit consisting of 4 shares of Common Stock and 4 Common Stock purchase warrants (“Unit”) for exercise
at a strike price per Share equal to 125% of the price per share of Common Stock, or $0.15625 per share with a term of 2 years.
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Aggregate of common shares |
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5,750,000
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Exercise price (in Dollars per share) |
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$ 0.05
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Net proceeds (in Dollars) |
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$ 276,066
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Financing costs (in Dollars) |
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377,560
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Returnable warrants issued |
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7,000,000
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Additional financing costs (in Dollars) |
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$ 699,350
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Outstanding share purchase warrants |
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24,098,865
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Aggregate intrinsic value (in Dollars) |
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$ 4,215,000
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$ 3,299,000
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$ 4,215,000
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Common Stock [Member] |
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Warrants [Line Items] |
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Converted shares |
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655,000
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Minimum [Member] |
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Warrants [Line Items] |
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Risk-free rate |
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3.69%
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Initial exercise prices (in Dollars per share) |
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$ 0.1
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$ 0.05
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Maximum [Member] |
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Warrants [Line Items] |
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Risk-free rate |
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4.27%
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Initial exercise prices (in Dollars per share) |
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$ 0.12
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$ 0.125
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Black Scholes Model [Member] |
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Warrants [Line Items] |
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Adjusted exercise price (in Dollars per share) |
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$ 0.2
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Warrant issued |
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167,500
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Warrant Agreement [Member] |
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Warrants [Line Items] |
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Warrant issued |
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100,000
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100,000
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Strike price (in Dollars per share) |
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$ 0.125
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Volatility rate |
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151.07%
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151.07%
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Risk-free rate |
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0.79%
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Warrant strike price (in Dollars per share) |
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$ 0.2626
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Warrant term |
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5 years
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5 years
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Letter of Engagement Agreement [Member] |
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Warrants [Line Items] |
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Strike price (in Dollars per share) |
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$ 0.033
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Volatility rate |
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113.71%
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113.71%
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Risk-free rate |
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3.69%
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Warrant term |
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5 years
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Issuance of warrants |
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1,000,000
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Series B Preferred Stock [Member] |
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Warrants [Line Items] |
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Converted shares |
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1,310
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1,740
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Outstanding share purchase warrants |
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23,147,255
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Common Stock [Member] |
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Warrants [Line Items] |
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Converted shares |
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8,700,000
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Aggregate of shares |
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5,750,000
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Warrant [Member] |
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Warrants [Line Items] |
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Warrant shares |
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8,700,000
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Adjusted exercise price (in Dollars per share) |
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$ 0.13796
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$ 0.2919
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Warrant, description |
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During the
fiscal year ended June 30, 2023, 2,800,000 warrants were issued to the holder of an outstanding promissory note with an initial exercise
price of $0.225 per share, 280,000 warrants were concurrently issued to the Placement Agent with an initial exercise price of $0.225,
and a further 119,260 warrants were issued to the Placement Agent with initial exercise price of $0.27 per share. The Company valued these
warrants using the Black Scholes model utilizing a 122.42% volatility and a risk-free rate of 3.91%. On October 4, 2022,
the Company and the Placement Agent entered into an Addendum to amend their Letter of Engagement to cancel compensatory warrants to purchase
280,000 shares of common stock of the Company and to cancel returnable compensatory warrants to purchase 700,000 shares of Common Stock
of the Company for a one-time cash payment of $35,000 and the issuance of 500,000 shares of Common Stock in full satisfaction of compensation
earned.
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Warrant [Member] | Minimum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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111.36%
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111.36%
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Risk-free rate |
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3.41%
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Initial exercise prices (in Dollars per share) |
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$ 0.033
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Warrant [Member] | Maximum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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112.33%
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112.33%
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Risk-free rate |
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4.18%
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Initial exercise prices (in Dollars per share) |
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$ 0.12
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Warrant [Member] | Black Scholes Model [Member] |
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Warrants [Line Items] |
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Adjusted exercise price (in Dollars per share) |
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$ 0.3
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Warrant issued |
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167,500
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Volatility rate |
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148.06%
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148.06%
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Warrant [Member] | Series B Preferred Stock [Member] |
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Warrants [Line Items] |
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Warrant issued |
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6,550,000
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Returnable Warrants [Member] |
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Warrants [Line Items] |
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Volatility rate |
124.14%
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Risk-free rate |
3.94%
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Cumulative promissory notes share |
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19,460,000
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Placement agent warrants |
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546,000
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Returnable warrants issued |
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18,956,523
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Additional financing costs (in Dollars) |
$ 1,085,780
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Promissory note dated |
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Sep. 23, 2022
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Initial exercise price (in Dollars per share) |
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$ 0.3
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Cumulative amount (in Dollars) |
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$ 809,800
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$ 809,800
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Returnable Warrants [Member] | Minimum [Member] |
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Warrants [Line Items] |
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Risk-free rate |
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3.67%
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Returnable Warrants [Member] | Maximum [Member] |
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Warrants [Line Items] |
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Risk-free rate |
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3.91%
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Returnable Warrants [Member] | Common Stock [Member] |
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Warrants [Line Items] |
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Returnable warrants issued |
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10,869,566
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Common stock in exchange |
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3,800,000
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Returnable Warrants [Member] | Ownership [Member] |
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Warrants [Line Items] |
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Ownership percentage |
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4.99%
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Placement Agent Warrants [Member] |
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Warrants [Line Items] |
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Cumulative promissory notes share |
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4,875,189
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Placement agent warrants |
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831,386
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Warrant Exchange Agreement [Member] |
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Warrants [Line Items] |
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Adjusted exercise price (in Dollars per share) |
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$ 0.0747
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Warrant issued |
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16,181,393
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Price per share (in Dollars per share) |
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$ 0.0747
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$ 0.0747
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Warrant Exchange Agreement [Member] | Minimum [Member] |
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Warrants [Line Items] |
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Exercise price (in Dollars per share) |
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0.2
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Warrant Exchange Agreement [Member] | Maximum [Member] |
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Warrants [Line Items] |
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Exercise price (in Dollars per share) |
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$ 0.3
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Convertible Notes Payable [Member] |
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Warrants [Line Items] |
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Strike price (in Dollars per share) |
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$ 0.25
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Convertible Notes Payable [Member] | Returnable Warrants [Member] |
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Warrants [Line Items] |
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Returnable warrants issued |
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12,460,000
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Black Scholes Model [Member] | Warrant [Member] |
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Warrants [Line Items] |
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Risk-free rate |
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0.83%
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Black Scholes [Member] | Minimum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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110.80%
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110.80%
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Black Scholes [Member] | Maximum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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111.31%
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111.31%
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Black Scholes [Member] | Returnable Warrants [Member] | Minimum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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111.36%
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Black Scholes [Member] | Returnable Warrants [Member] | Maximum [Member] |
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Warrants [Line Items] |
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Volatility rate |
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112.33%
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Investors and Placement Agents [Member] |
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Warrants [Line Items] |
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Warrant issued |
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6,900,000
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JH Darbie [Member] |
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Warrants [Line Items] |
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Warrant issued |
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21,250
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Placement Agent [Member] |
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Warrants [Line Items] |
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Warrant issued |
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878,260
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Placement Agent [Member] | Returnable Warrants [Member] |
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Warrants [Line Items] |
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Returnable warrants issued |
5,434,785
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Accumulative returnable warrants |
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546,000
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Lock-Up Agreement [Member] |
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Warrants [Line Items] |
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Warrant issued |
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400,000
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400,000
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Strike price (in Dollars per share) |
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$ 0.3
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$ 0.3
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Volatility rate |
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103.60%
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107.93%
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103.60%
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107.93%
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Risk-free rate |
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4.30%
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0.50%
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Warrant term |
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1 year
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1 year
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MFN Agreement [Member] | Returnable Warrants [Member] |
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Warrants [Line Items] |
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Returnable warrants issued |
1,086,957
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