0001213900-26-115083 | 10-Q | XBRL Viewer | Inmed Pharmaceuticals INC

Discontinued Operations

3 Months Ended

Sep. 30, 2026

3.	DISCONTINUED OPERATIONS

As previously described, assets and liabilities and income (loss) from discontinued operations are presented separately in the Consolidated Balance Sheets and Statements of Operations for all periods presented.

The following tables reconcile the carrying amounts of the major classes of assets and liabilities of discontinued operations to the current assets and liabilities of discontinued operations as presented on the Company’s Consolidated Balance Sheets:

Assets and Liabilities of Discontinued Operations	September 30, 2026		June 30, 2026
	$		$
Current Assets of Discontinued Operations
Cash and cash equivalents		11,355		55,638
Accounts receivable, net		-		31,458
Prepaids and other current assets		-		4,067
Inventories		-		90,164
Total Current Assets of Discontinued Operations		11,355		181,327

Current Liabilities of Discontinued Operations
Accounts payable and accrued liabilities		11,355		111,733
Total Current Liabilities of Discontinued Operations		11,355		111,733

The following table provides details about the major classes of line items constituting “Income (loss) from discontinued operations” as presented in the Company’s Consolidated Statements of Operations:

Income (Loss) from Discontinued Operations

	Three Months Ended
	September 30, 2026			September 30, 2025
	$			$
Sales		156,735			1,120,121
Cost of sales		(179,564	)		(716,962	)
Gross (loss) profit		(22,829	)		403,159

Operating Expenses
General and administrative		312,841			6,154
Research and development		-			292,957
Amortization and depreciation		-			599
Total Operating Expenses		312,841			299,710

Income (Loss) of Discontinued Operations before Provision for Income Taxes		(335,766	)		103,449

Provision for Income Taxes		-			-

Net income (loss) of Discontinued Operations		(335,766	)		103,449

The following table presents cash flow information from the discontinued operations as presented in the Company’s Consolidated Statements of Cash Flows.

	September 30, 2026			September 30, 2025
	$			$
Changes in discontinued assets and liabilities
Accounts receivables		(31,458	)		(121,635	)
Prepaid expenses		(4,067	)		1,883
Inventories		(90,164	)		(70,366	)
Accounts payable		56,096			207,372
Operating cash flow used by discontinued operations		(69,593	)		17,254

Significant Accounting Policies

3 Months Ended

Sep. 30, 2026

Significant Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

2.	SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

These condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles as applied in the United States (“US GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for financial information.

These unaudited condensed consolidated financial statements reflect all adjustments, consisting solely of normal recurring adjustments, which, in the opinion of management, are necessary for a fair presentation of results for the interim periods presented. The results of operations for the three months ended September 30, 2026 and 2025 are not necessarily indicative of results that can be expected for a full fiscal year. These unaudited condensed consolidated financial statements follow the same significant accounting policies as those described in the notes to the audited consolidated financial statements of the Company for the fiscal year ended June 30, 2026.

Discontinued Operations

On March 4, 2026, the Company’s board of directors ratified, confirmed and approved the decision of the board members of BayMedica to wind down and exit BayMedica’s commercial operations On March 4, 2026, the Company’s board of directors ratified, confirmed and approved the decision of the board members of BayMedica to wind down and exit BayMedica’s commercial operations business segment (“commercial operations”), which is the only revenue-generating commercial operations of the Company. BayMedica substantially completed the wind down and exit prior to the end of its fiscal year ending June 30, 2026. Following the wind down of commercial operations, the Company’s remaining activities have consisted of preclinical development of its Product Candidates, including INM-901 for Alzheimer’s disease and INM-089 for dry Age-related Macular Degeneration, or dry AMD, and INM-755 (cannabinol) cream.

Refer to Note 3 for additional information on discontinued operations. All other notes to these condensed consolidated financial statements present the results of continuing operations and exclude amounts related to discontinued operations for all periods presented. September 30, 2025, Statement of Operations and Statements of Cash Flows have been recasted for discontinued operations.

Use of Estimates

The preparation of financial statements in compliance with US GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities as of the balance sheet date, and the corresponding revenues and expenses for the periods reported. It also requires management to exercise judgment in applying the Company’s accounting policies. In the future, actual experience may differ from these estimates and assumptions. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to these condensed consolidated financial statements are the application of the going concern assumptions, determining the fair value of share-based payments, income tax provisions, warrant valuations, and the assumptions used in the determination of research & development accruals.

Actual results could differ from those estimates.

Basis of Consolidation

These condensed consolidated financial statements include the accounts of the Company and its subsidiaries, InMed Pharmaceutical Ltd; BayMedica, LLC; Biogen Sciences Inc.; and Sweetnam Consulting Inc. Biogen Sciences Inc. and Sweetnam Consulting Inc. are inactive subsidiaries. A subsidiary is an entity that the Company controls, either directly or indirectly, where control is defined as the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. All inter-company transactions and balances including unrealized income and expenses arising from intercompany transactions are eliminated in preparing these consolidated financial statements.

Foreign Currency

The functional currency of the Company and its subsidiaries is the U.S. Dollar. These condensed consolidated financial statements are presented in U.S. Dollars. References to “$” and “US$” are to United States (“U.S.”) dollars and references to “C$” are to Canadian dollars.

Cash and Cash Equivalents

Cash and cash equivalents include cash-on-hand, demand deposits with financial institutions and other short-term, highly liquid investments with original maturities of three months or less when acquired that are readily convertible to known amounts of cash and subject to an insignificant risk of change in value. As of September 30, 2026 and June 30, 2026, the Company held $1.1 million and $2.2 million, respectively, of cash equivalents in a money market fund that is considered Level 1 in the financial instrument’s hierarchy due to the readily available quoted prices in active markets for identical instruments.

Short-term Investments

Short-term investments include fixed and variable rate guaranteed investment certificates, with terms greater than three months and less than twelve months. Due to the short-term nature of these investments the fair value of the investments approximates the current value. Guaranteed investment certificates are convertible to known amounts of cash and are subject to an insignificant risk of change in value.

Concentration of Credit Risk and Other Risks and Uncertainties

At times, cash balances may exceed the Federal Deposit Insurance Corporation or Canadian Deposit Insurance Corporation limits. The Company has not experienced any losses related to these balances. The uninsured cash balance as of September 30, 2026, was $0.5 million. The Company does not believe it is exposed to significant credit risk on cash and cash equivalents.

Fair Value Measurements

Financial Assets

Financial assets are initially recognized at fair value, plus transaction costs that are directly attributable to their acquisition or issue and subsequently carried at amortized cost, using the effective interest rate method, less any impairment losses. No financial assets are or elected to be carried at fair value through profit or loss or where changes in fair value are recognized in the condensed consolidated statements of operations and comprehensive loss in other comprehensive loss.

Short-term investments are subsequently recorded at cost plus accrued interest, which approximates fair value due to short-term nature. Accounts receivable are reported at outstanding amounts, net of credit losses.

Financial Liabilities

To determine the fair value of financial instruments, the Company uses the fair value hierarchy for inputs used to measure fair value of financial assets and liabilities. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels: Level 1 (highest priority), Level 2, and Level 3 (lowest priority).

Level 1 –

Unadjusted quoted prices in active markets for identical instruments.

Level 2 –

Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs).

Level 3 –

Inputs are unobservable and reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy.

The carrying value of cash and cash equivalents, short-term investments, and accounts payable and accrued liabilities, approximate their carrying values as at September 30, 2026 due to their immediate or short-term maturities.

Earnings (Loss) Per Share

Basic earnings (loss) per common share (“EPS”) is computed by dividing the net income or loss applicable to common shares of the Company by the weighted average number of common shares outstanding for the relevant period. As of September 30, 2026 and 2025, the Company has nil and 1,350,363, respectively, pre-funded warrants included in the basic earnings (loss) per share. Diluted earnings (loss) per common share (“Diluted EPS”) is computed by dividing the net income or loss applicable to common shares by the sum of the weighted average number of common shares issued and outstanding and all additional common shares that would have been outstanding, if potentially dilutive instruments were converted. If the conversion of outstanding stock options and warrants into common share is anti-dilutive, then diluted EPS is not presented separately from EPS.

The following table sets forth the number of potential shares of common stock that have been excluded from diluted net loss per share because their effect was anti-dilutive:

	Three months ended September 30,
	2026		2025
Options		162,047		60,356
Warrants		332,397		2,588,847
		494,444		2,649,203

Share-based Payments

The Company follows the requirements of FASB ASC 718-10-10, Share-Based Payments with regards to stock-based compensation issued to employees and non-employees. The Company has agreements and arrangements that call for stock to be awarded to the employees and consultants at various times as compensation and periodic bonuses. The expense for this stock-based compensation is equal to the fair value of the stock price on the day the stock was awarded multiplied by the number of shares awarded. The Company has a relatively low forfeiture rate of stock-based compensation and forfeitures are recognized as they occur.

The valuation methodology used to determine the fair value of the options issued during the period is the Black-Scholes option-pricing model. The Black-Scholes model requires the use of a number of assumptions including the volatility of the stock price, the average risk-free interest rate, and the weighted average expected life of the options. Risk-free interest rates are calculated based on continuously compounded risk-free rates for the appropriate term. The dividend yield is assumed to be zero as the Company has never paid or declared any cash dividends on its Common Stock and does not intend to pay dividends on its Common Stock in the foreseeable future. The expected forfeiture rate is estimated based on management’s best assessment.

Estimated volatility is a measure of the amount by which InMed’s stock price is expected to fluctuate each year during the expected life of the award. The Company’s calculation of estimated volatility is based on historical stock prices over a period equal to the expected life of the awards.

Segment reporting

Following the classification of the Commercial segment as discontinued operations, the Company has one reportable segment that constitutes consolidated results consisting of its operations. Unless otherwise noted, all activities and amounts reported in the following notes relate to the continuing operations of the Company and exclude activities and amounts related to discontinued operations. See notes 3 and 10 of the consolidated financial statements for a discussion of discontinued operations and the Company’s operating segment.

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the Chief Executive Officer and the senior management team (CODM), in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business as one operating segment, the InMed Pharmaceuticals (“INM Pharma”) segment.

Statement of Cash Flows

Cash flows related to discontinued operations are classified within operating, investing, and financing activities in the consolidated statement of cash flows based on the nature of the underlying cash flows. For periods in which discontinued operations are presented, the Company discloses the total operating and investing cash flows of the discontinued operation in accordance with ASC 205-20-50-5B(c). Additional information relating to discontinued operations is included in Note 3.

Recent Accounting Pronouncements

The Company has reviewed recent accounting pronouncements and concluded that they are either not applicable to the Company or that there was no material impact or no material impact is expected in these consolidated financial statements as a result of future adoption.

In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which clarifies various topics in the Accounting Standards Codification to improve consistency and address technical corrections. Key improvements include clarifying the calculation of diluted earnings per share (EPS) when a loss from continuing operations exists. The amendments in this update are effective for the Company beginning January 1, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements. This update clarifies the applicability of interim reporting guidance and the form and content of interim financial statements. It also establishes a disclosure principle requiring an entity to disclose material events and changes occurring since the end of the last annual reporting period. ASU 2025-11 is effective for the Company for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is assessing the impact of adopting this standard.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments — Credit Losses, which provides a practical expedient for estimating expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under Topic 606, Revenue from Contracts with Customers. ASU 2025-05 is effective for annual periods beginning after December 15, 2025 and interim periods within those annual reporting periods and should be applied prospectively, with early adoption permitted. The Company has adopted this accounting pronouncement.

In November 2024, the FASB issued ASU 2024-03, Income Statement Reporting Comprehensive Income - Expense Disaggregation Disclosures, which requires disclosure, in the notes to financial statements, of specified information about certain costs and expenses. The amendments in this update improve financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods. This ASU should be applied on a prospective basis, with retrospective application permitted. The amendments in this update are effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the future effect the adoption of this ASU will have on our consolidated financial statements and related disclosures.

Commitments and Contingencies

3 Months Ended

Sep. 30, 2026

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

8.	COMMITMENTS AND CONTINGENCIES

Pursuant to the terms of agreements with various contract research organizations, as of September 30, 2026, the Company is committed for contract research services and materials at a cost of approximately $7,046, expected to occur in the twelve months following period.

Pursuant to the terms of a certain Technology Assignment Agreement, dated as of May 31, 2017 (the “Technology Agreement”), between the Company and the University of British Columbia (“UBC”), the Company is committed to pay royalties to UBC on certain licensing and royalty revenues received by the Company for biosynthesis of certain drug products that are covered by the Technology Agreement. To date, no payments have been required to be made.

Short-term investments include guaranteed investment certificates, with one-year terms, of $40,331 and $39,670 as of September 30, 2026 and June 30, 2026, respectively, that are pledged as security for a corporate credit card.

In addition to the foregoing, the Company has entered into certain agreements in the ordinary course of operations that may include indemnification provisions, which are common in such agreements. In some cases, the maximum amount of potential future indemnification is unlimited; however, the Company currently holds commercial general liability insurance. This insurance may limit the Company’s overall liability and may enable the Company to recover a portion of any future amounts paid. Historically, the Company has not made any indemnification payments under such agreements, and it believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations for any period presented.

BayMedica entered into a technology license agreement (“Agreement”) with a third party (the “Licensor”) on February 15, 2021. Under the Agreement, BayMedica agreed to license a proprietary process in the United States where the Licensor has a pending U.S. patent application in exchange for certain annual royalty payments contingent on the net sales of products made using the licensed process. The royalty payments were to be made for the period beginning on the first commercial sale of the licensed product and ending on the later of the expiration of the Licensor’s patent rights or ten years after the first commercial sale of such licensed product.

On April 29, 2025, BayMedica received a letter from the Licensor of its intention to commence arbitration proceedings pursuant to the Agreement together with a Notice of Arbitration (the “Patent License Matter”). The Patent License Matter will be subject to final, binding and non-appealable arbitration under the Arbitration Act, 1991 (Ontario) and determined pursuant to Ontario law.

In its Notice of Arbitration, the Licensor takes the position that the annual royalty payments are not simply required to maintain an exclusive license with respect to the proprietary process, but rather function as guaranteed annual minimum payments that BayMedica must make for the duration of the Agreement regardless of net sales. On the basis of this theory, and this theory alone, the Licensor seeks relief against BayMedica including (a) approximately US $3.4M in annual payments for 2022 through 2024 and (b) a declaration that BayMedica is liable to pay certain annual minimum payments of approximately $2.3M for the remainder of the term of the Agreement. BayMedica disputes the amount owing and to be paid over the duration of the agreement. BayMedica vehemently contests the Licensor’s interpretation of the Agreement and its position in the Patent License Matter, and intends to take all necessary steps to vigorously defend the Patent License Matter.

On January 16, 2026, the Licensor delivered an Amended Notice of Arbitration alleging that BayMedica breached several obligations under the Agreement, including, among other things, failing to ensure sublicensee compliance with reporting obligations under the Agreement, and failing to remit required royalties. On this basis, the Licensor seeks an unspecified quantum of damages for BayMedica’s alleged breach of the Agreement, seeks a declaration that BayMedica has failed to comply with its obligations under the Agreement, including its reporting requirements and requirements in respect of its alleged sublicensees, and an Order for specific performance requiring it to comply with those obligations. BayMedica disputes the amended allegations and denies breaching the Agreement as alleged.

On June 1, 2026, the Arbitrator issued an award on preliminary motions brought by BayMedica, striking significant portions of the Licensor’s claims, including claims for damages, declaratory relief and specific performance relating to BayMedica’s alleged breaches of its sublicensee, royalty reporting and commercialization obligations under the Agreement on the basis that it was plain and obvious such claims cannot succeed. The Arbitrator also denied the Licensor leave to amend. As a result, the arbitration will continue on a significantly narrowed basis, with the sole remaining substantive claim being the Licensor’s allegation that BayMedica is required to make annual minimum payments irrespective of royalties generated from sales of licensed products, which the Arbitrator declined to dismiss as statute-barred.

BayMedica and the Licensor have agreed to a timetable for the remaining steps in the arbitration. As part of that timetable, the Arbitrator has agreed to holding an arbitration hearing in the first quarter of 2027.

While the Company is not able to predict the outcome of the Patent License Matter, an unfavorable outcome to BayMedica would have a material adverse impact on the Company’s business and financial condition and on BayMedica’s ability to continue operations.

Corporate Information and Continuing Operations (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2026	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2026
Corporate Information and Continuing Operations [Abstract]
Date of incorporation	May 19, 1981
Net loss	$ (2,330,778)	$ (1,726,899)	$ (1,700,000)
Accumulated deficit	(132,561,184)			$ (130,230,406)
Cash, cash equivalents and short-term investments	$ 1,100,000

Share Capital and Reserves (Details) - USD ($)	3 Months Ended	12 Months Ended
Share Capital and Reserves (Details) - USD ($)	Sep. 30, 2026	Jun. 30, 2026
Share Capital and Reserves [Line Items]
Preferred shares, issued (in Shares)
Preferred shares, outstanding (in Shares)
Warrant [Member]
Share Capital and Reserves [Line Items]
Outstanding intrinsic value	$ 183,133	$ 432,104
Weighted average remaining life	2 years	6 months

Segment Information - Schedule of Reportable Segment (Details) - USD ($)	3 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Operating Expenses
General and administrative	$ 1,804,625	$ 1,239,058
Research and development	206,015	575,458
Amortization and depreciation	168	52,603
Foreign exchange loss (gain)	(1,488)	56,994
Total operating expenses	2,009,320	1,924,113
Other Income (Expense)
Interest and other income	14,308	93,765
Net loss from continuing operations before taxes	(1,995,012)	(1,830,348)
Provision for Income Taxes
Net loss from continuing operations	$ (1,995,012)	$ (1,830,348)

Pending Merger Agreement and Contingent Value Rights (Details) - USD ($) $ in Millions	Jul. 22, 2026	May 19, 2026
Pending Merger Agreement and Contingent Value Rights [Line Items]
Pre-merger percent		0.97%
Common shares outstanding percent		20.00%
Gross proceeds	$ 50.0	$ 150.0
Cash		$ 4.4
Mentari [Member]
Pending Merger Agreement and Contingent Value Rights [Line Items]
Ownership percent		99.03%
Gross proceeds	$ 490.0

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
Commitments and Contingencies (Details) - USD ($)	Sep. 30, 2026	Jun. 30, 2026
Commitments and Contingencies [Abstract]
Contract research services and materials	$ 7,046
Guaranteed investment certificates	40,331	$ 39,670
Annual payment	3,400,000
Annual minimum payments	$ 2,300,000

Share-Based Payments (Details) - USD ($)		3 Months Ended
Share-Based Payments (Details) - USD ($)	Mar. 24, 2017	Sep. 30, 2026	Sep. 30, 2025	Jun. 30, 2026	Dec. 08, 2025	Dec. 18, 2024
Share-Based Payments [Line Items]
Percentage of common stock issued and outstanding	20.00%	20.00%
Additional common shares stock options					300,000	60,000
Share-based payment expense		$ 9,394	$ 20,205
Unrecognized compensation cost		$ 46,795
Weighted-average vesting period		1 year 2 months 12 days
Stock Option [Member]
Share-Based Payments [Line Items]
Additional common shares stock options		240,641		235,667

Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)	Sep. 30, 2026	Jun. 30, 2026
Schedule of Accounts Payable and Accrued Liabilities [Abstract]
Trade payables	$ 1,671,610	$ 927,170
Accrued research and development expenses	196,914	228,110
Employee compensation, benefits and related accruals	167,458	280,254
Accrued general and administrative expenses	457,921	407,793
Accounts payable and accrued liabilities	$ 2,493,903	$ 1,843,327

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cover - shares	3 Months Ended
Cover - shares	Sep. 30, 2026	Oct. 30, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Sep. 30, 2026
Document Fiscal Year Focus	2027
Document Fiscal Period Focus	Q1
Entity Registrant Name	INMED PHARMACEUTICALS INC.
Entity Central Index Key	0001728328
Entity File Number	001-39685
Entity Tax Identification Number	98-1428279
Entity Incorporation, State or Country Code	A1
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Address, Address Line One	c/o Norton Rose Fulbright Canada LLP
Entity Address, Address Line Two	Suite 1800
Entity Address, Address Line Three	510 West Georgia Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6B 0M3
City Area Code	(604)
Local Phone Number	669-7207
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	INM
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		5,493,735

Share Capital and Reserves - Schedule of Warrant Activity (Details) - Warrant [Member]	3 Months Ended
	Sep. 30, 2026 $ / shares shares
Schedule of Warrant Activity [Line Items]
Number of Shares Under Warrants, beginning balance \| shares	581,512
Weighted Average Exercise Price, beginning balance \| $ / shares	$ 12.03
Number of Shares Under Warrants, Warrants Granted \| shares
Weighted Average Exercise Price, Warrants Granted \| $ / shares
Number of Shares Under Warrants, Exercised \| shares	(249,115)
Weighted Average Exercise Price, Exercised \| $ / shares	$ 0.8
Number of Shares Under Warrants, Expired/Cancelled \| shares
Weighted Average Exercise Price, Expired/Cancelled \| $ / shares
Number of Shares Under Warrants, ending balance \| shares	332,397
Weighted Average Exercise Price, ending balance \| $ / shares	$ 20.45
Number of Shares Under Warrants, Warrants Exercisable \| shares	332,397
Weighted Average Exercise Price, Warrants Exercisable \| $ / shares	$ 20.45

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2026	Jun. 30, 2026
Current
Cash and cash equivalents	$ 1,094,488	$ 2,194,413
Short-term investments	40,331	39,670
Prepaids and other current assets	99,682	241,296
Held for sale equipment	17,583	20,000
Current assets of discontinued operations	11,355	181,327
Total current assets	1,263,439	2,676,706
Non-Current
Property, equipment and ROU assets, net		221,037
Other assets	42,423	132,324
Total Assets	1,305,862	3,030,067
Current
Accounts payable and accrued liabilities	2,493,903	1,843,327
Current liabilities of discontinued operations	11,355	111,733
Total Liabilities	2,505,258	1,955,060
Commitments and Contingencies (Note 8)
Shareholders’ Equity
Common shares, no par value, unlimited authorized shares: 5,493,735 and 5,339,436 as of September 30, 2026 and June 30, 2026, respectively, issued and outstanding	94,408,309	94,282,698
Additional paid-in capital	36,824,910	36,894,146
Accumulated deficit	(132,561,184)	(130,230,406)
Accumulated other comprehensive income	128,569	128,569
Total Shareholders’ Equity	(1,199,396)	1,075,007
Total Liabilities and Shareholders’ Equity	$ 1,305,862	$ 3,030,067

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Sep. 30, 2026
Segment Information [Abstract]
CODM, description	The Company has identified its Chief Executive Officer and senior management team as its chief operating decision maker (the “CODM”). The CODM is responsible for assessing the Company’s operating performance and making decisions about the allocation of resources.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	Chief Executive Officer

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Operating Activities
Net loss	$ (2,330,778)	$ (1,726,899)
Items not requiring cash:
Amortization and depreciation	168	53,202
Share-based compensation	16,375	20,205
Amortization of right-of-use assets	220,869	103,478
Interest income received on short-term	(661)
Unrealized foreign exchange loss		1,883
Changes in operating assets and liabilities:
Prepaids and other currents assets	141,614	131,875
Other non-current assets	89,901
Accounts payable and accrued liabilities	650,577	(389,881)
Lease obligations		(107,412)
Operating cash flow used by discontinued operations	69,593	(17,254)
Total cash used in operating activities	(1,142,342)	(1,930,803)
Investing Activities
Sale of held for sale equipment	2,417
Sale of short-term investments		20,957
Purchase of short-term investments		(20,957)
Total cash provided by investing activities	2,417
Financing Activities
Proceeds from the exercise of warrants	40,000
Share issuance costs		(137,178)
Total cash provided by (used in) financing activities	40,000	(137,178)
Decrease in cash and cash equivalents during the period	(1,099,925)	(2,067,981)
Cash and cash equivalents beginning of the period	2,194,413	10,743,430
Cash and cash equivalents end of the period	1,094,488	8,675,449
Cash paid during the period for:
Income taxes
Interest

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2026	Jun. 30, 2026
Statement of Financial Position [Abstract]
Common shares, par value (in Dollars per share)
Common shares, authorized	Unlimited	Unlimited
Common shares, issued (in Shares)	5,493,735	5,339,436
Common shares, outstanding (in Shares)	5,493,735	5,339,436

Significant Accounting Policies (Details) $ in Millions	3 Months Ended
Significant Accounting Policies (Details) $ in Millions	Sep. 30, 2026 USD ($) Segments shares	Sep. 30, 2025 shares	Jun. 30, 2026 USD ($)
Significant Accounting Policies [Line Items]
Cash equivalents \| $	$ 1.1		$ 2.2
Uninsured cash balance \| $	$ 0.5
Reportable segment (in Segments) \| Segments	1
Operating segments (in Segments) \| Segments	1
Pre-Funded Warrants [Member]
Significant Accounting Policies [Line Items]
Antidilutive shares (in Shares) \| shares	1,350,363	1,350,363

Significant Accounting Policies - Schedule of Number of Potential Shares of Common Stock (Details) - shares	3 Months Ended
	Sep. 30, 2026	Sep. 30, 2025
Schedule of Number of Potential Shares of Common Stock [Line Items]
Total share of anti-dilutive	494,444	2,649,203
Options [Member]
Schedule of Number of Potential Shares of Common Stock [Line Items]
Total share of anti-dilutive	162,047	60,356
Warrants [Member]
Schedule of Number of Potential Shares of Common Stock [Line Items]
Total share of anti-dilutive	332,397	2,588,847

Condensed Consolidated Statements of Shareholders’ Equity (Unaudited) - USD ($)	Common Shares	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income	Total
Balance at Jun. 30, 2025	$ 91,221,174	$ 39,322,644	$ (117,237,892)	$ 128,569	$ 13,434,495
Balance (in Shares) at Jun. 30, 2025	2,002,186
Statement [Line Items]
Share issuance costs	$ (137,178)				(137,178)
Exercise of pre-funded warrants	$ 722,400	(722,400)
Exercise of pre-funded warrants (in Shares)	602,000
Loss for the period			(1,726,899)		(1,726,899)
Share-based compensation		20,205			20,205
Balance at Sep. 30, 2025	$ 91,806,396	38,620,449	(118,964,791)	128,569	11,590,623
Balance (in Shares) at Sep. 30, 2025	2,604,186
Balance at Jun. 30, 2026	$ 94,282,698	36,894,146	(130,230,406)	128,569	1,075,007
Balance (in Shares) at Jun. 30, 2026	5,339,436
Statement [Line Items]
Exercise of pre-funded warrants	$ 125,611	(85,611)			40,000
Exercise of pre-funded warrants (in Shares)	154,299
Loss for the period			(2,330,778)		(2,330,778)
Share-based compensation		16,375			16,375
Balance at Sep. 30, 2026	$ 94,408,309	$ 36,824,910	$ (132,561,184)	$ 128,569	$ (1,199,396)
Balance (in Shares) at Sep. 30, 2026	5,493,735

Share-Based Payments - Schedule of Changes in Outstanding Options (Details)	3 Months Ended
	Sep. 30, 2026 $ / shares shares
Share-Based Payments [Abstract]
Number, Balance at beginning \| shares	167,021
Weighted Average Exercise Price, Balance at beginning \| $ / shares	$ 7.86
Number, Granted \| shares
Weighted Average Exercise Price, Granted \| $ / shares
Number, Expired/Forfeited \| shares	(4,974)
Weighted Average Exercise Price, Expired/Forfeited \| $ / shares	$ 23.1
Number, Balance at ending \| shares	162,047
Weighted Average Exercise Price, Balance at ending \| $ / shares	$ 7.4
Number, Vested and exercisable \| shares	71,321
Weighted Average Exercise Price, Vested and exercisable \| $ / shares	$ 14.65
Number, Unvested \| shares	90,726
Weighted Average Exercise Price, Unvested \| $ / shares	$ 1.7