Leases (Tables)
|
6 Months Ended |
Dec. 31, 2020 |
|---|
| Leases [Abstract] |
|
| Schedule of Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases was as
follows:
| |
|
As of |
|
|
As of |
|
| |
|
December 31, 2020 |
|
|
June 30, 2020 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,937,907 |
|
|
$ |
2,360,129 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
1,169,960 |
|
|
$ |
1,111,912 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
962,724 |
|
|
|
1,339,965 |
|
| Total Lease Liabilities |
|
$ |
2,132,684 |
|
|
$ |
2,451,877 |
|
|
| Schedule of Components of Lease Cost |
The components of lease cost were as follows:
| |
|
For the Three Months |
|
|
For the Six Months |
|
| |
|
Ended December 31, |
|
|
Ended December 31, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
31,926 |
|
|
$ |
108,670 |
|
|
$ |
77,179 |
|
|
$ |
135,000 |
|
| Interest on finance lease obligation |
|
|
6,953 |
|
|
|
29,413 |
|
|
|
18,645 |
|
|
|
52,331 |
|
| Operating lease cost |
|
|
310,740 |
|
|
|
334,492 |
|
|
|
630,826 |
|
|
|
598,069 |
|
| Short term lease cost |
|
|
13,493 |
|
|
|
78,862 |
|
|
|
30,071 |
|
|
|
152,972 |
|
| Sub lease income |
|
|
(8,738 |
) |
|
|
(8,514 |
) |
|
|
(17,362 |
) |
|
|
(16,713 |
) |
| Total lease cost |
|
$ |
354,374 |
|
|
$ |
542,923 |
|
|
$ |
739,359 |
|
|
$ |
921,659 |
|
|
| Schedule of Lease Term and Discount Rate |
Lease term and discount rate were as follows:
| |
|
As of |
|
| |
|
December 31, 2020 |
|
| |
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
2.08 Years |
|
| |
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
5.6 |
% |
|
| Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases |
Supplemental disclosures of cash flow information related to leases
were as follows:
| |
|
For the Six Months Ended |
|
| |
|
December 31, 2020 |
|
|
December 31, 2019 |
|
| |
|
|
|
|
|
|
| Cash flows related to lease liabilities |
|
|
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
529,970 |
|
|
$ |
566,589 |
|
|
| Schedule of Maturities of Operating Lease Liabilities |
Maturities of operating lease liabilities were as follows as of
December 31, 2020:
| |
|
Amount |
|
| Within year 1 |
|
$ |
1,249,702 |
|
| Within year 2 |
|
|
734,691 |
|
| Within year 3 |
|
|
222,387 |
|
| Within year 4 |
|
|
42,317 |
|
| Within year 5 |
|
|
824 |
|
| Thereafter |
|
|
2,882 |
|
| Total Lease Payments |
|
|
2,252,803 |
|
| Less: Imputed interest |
|
|
(120,119 |
) |
| Present Value of lease liabilities |
|
|
2,132,684 |
|
| Less: Current portion |
|
|
(1,169,960 |
) |
| Non-Current portion |
|
$ |
962,724 |
|
|