ADDED
As of September 15, 2025, there were 57,277,874 shares of the registrant s common stock, par value $0.0001 per share (the Common Stock ), outstanding.
All statements contained in this Annual Report and any documents we incorporate by reference, other than statements of historical facts, are forward-looking statements including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth.
These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
The words may, will, could, would, should, believes, expects, anticipates, estimates, intends, plans, potential and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements, although not all forward-looking statements contain these identifying words.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results.
We have included important factors in the cautionary statements included in this Annual Report that could cause actual future results or events to differ materially from the forward-looking statements that we make.
Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments we may make.
You should read this Annual Report and the documents that we incorporate by reference with the understanding that our actual future results may be materially different from what we expect.
Our business may be negatively affected by global political events and foreign policy responses, including tariffs.
Business Overview We are committed to delivering superior products that challenge industry norms, with the goal of delivering an unmatched customer and adult consumer experience.
REMOVED
As of September 26, 2024, there were 56,641,041 shares of the registrant s common stock, par value $0.0001 per share (the Common Stock ), outstanding.
Such statements may include, without limitation, statements with respect to the Company s plans, objectives, projections, expectations and intentions and other statements identified by words such as may, will, could, would, should, believes, expects, anticipates, estimates, intends, plans, potential or similar expressions.
These statements are based upon the current beliefs and expectations of the Company s management and do not constitute guarantees of future performance.
Actual results (including, without limitation, the actual timing for and results of the PMTAs described herein, and other FDA review of the Company s products in development), levels of activity, performance or achievements expressed or implied may differ significantly from those set forth in the forward-looking statements.
We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this Form 10-K or to reflect the occurrence of unanticipated events, except as may be required under applicable U.S.
EXPLANATORY NOTE REGARDING RESTATEMENT This Annual Report restates the previously issued financial statements, data, and related disclosures for the year ended June 30, 2023, and for the periods ended September 30, 2023, December 31, 2023, and March 31, 2024.
During the preparation of this Annual Report and December 31, 2023 and March 31, 2024 quarterly interim reviews, the Company determined that it had not appropriately classified or disclosed certain items under U.S.
The Company identified certain errors with the classification and presentation of information in the consolidated statement of cash flows and classification errors in the consolidated statement of operations and comprehensive loss.
Additionally, the Company identified errors in its initial recognition and measurement of right-of-use assets and lease liabilities related to its operating leases, as well as the subsequent recognition and measurement of such operating leases.
In accordance with Staff Accounting Bulletin ( SAB ) 99, Materiality, and SAB 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, the Company evaluated the materiality of the errors from qualitative and quantitative perspectives, individually and in the aggregate, and concluded that the errors in aggregate were material.