Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity - Schedule of Warrants (Parenthetical) (Detail)

v3.20.2
Stockholders' Equity - Schedule of Warrants (Parenthetical) (Detail) - USD ($)
12 Months Ended
Nov. 26, 2018
Jun. 30, 2020
Jun. 30, 2019
Jun. 05, 2020
Net proceeds from the exercise and exchange of warrants   $ 51,550 $ 720,165  
Warrants        
Warrants exercise price   $ 1.00   $ 3.875
Exercise of 2018 Investor Warrants for cash   197,500    
Net proceeds from the exercise and exchange of warrants   $ 720,165    
Gross proceeds from the exercise and exchange of warrants   790,000    
Warrant exercise expense   $ 69,835    
Shares issued, exercise of warrants 99,167      
Exercise and exchange of 2018 Investor Warrants 297,500   (495,000) [1]  
Exercise of 2020 Investor Warrants [2]   25,000    
Warrants | Minimum        
Warrants exercise price   $ 12.50    
Warrants | Maximum        
Warrants exercise price   $ 4.00    
[1] On November 25, 2018, the Company entered into Warrant Exercise and Exchange Agreements (the “Warrant Exercise Agreements”) with certain holders (the “Exercising Holders”) of the 2018 Investor Warrants. Pursuant to the Warrant Exercise Agreements, in order to induce the Exercising Holders to exercise the 2018 Investor Warrants for cash, the Company agreed to reduce the exercise price from $12.50 to $4.00 per share. Pursuant to the Warrant Exercise Agreements, the Exercising Holders exercised their 2018 Investor Warrants with respect to an aggregate of 197,500 shares of common stock underlying such 2018 Investor Warrants (the “Exercised Shares”). The Company received net proceeds of $720,165, comprising aggregate gross proceeds of $790,000 net of expenses of $69,835, from the exercise of the 2018 Investor Warrants. In addition, in order to further induce the Exercising Holders to exercise the 2018 Investor Warrants, the Warrant Exercise Agreements also provided for the issuance of one share of common stock to the Exercising Holders in exchange for every three shares of common stock underlying the 2018 Investor Warrants held by the Exercising Holders that are not being exercised for cash pursuant to the Warrant Exercise Agreements, if any. On November 26, 2018, the Company issued an aggregate of 99,167 shares of common stock in exchange for 297,500 2018 Investor Warrants.
[2] A total of 25,000 2020 Investor Warrants were exercised at $1.00.