Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.20.4
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