Quarterly report pursuant to Section 13 or 15(d)

ACCOUNTING POLICIES (Tables)

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ACCOUNTING POLICIES (Tables)
3 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS

The Company’s financial assets that were measured at fair value on a recurring basis as of September 30, 2021, were as follows:

 

    Level 1     Level 2     Level 3     Total Assets  
Revenues in excess of billings - long term   $ -     $ -     $ 969,456     $ 969,456  
Total   $ -     $ -     $ 969,456     $ 969,456  

 

The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2021, were as follows:

 

    Level 1     Level 2     Level 3     Total Assets  
Revenues in excess of billing - long term   $ -     $ -     $ 957,603     $ 957,603  
Total   $ -     $ -     $ 957,603     $ 957,603  
SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION

The reconciliation from June 30, 2021 to September 30, 2021 is as follows:

 

    Revenues in excess of billings - long term     Fair value discount     Total  
Balance at June 30, 2021   $ 1,024,382     $ (66,779 )   $ 957,603  
Amortization during the period     -       9,502       9,502  
Effect of Translation Adjustment     2,452       (101 )     2,351  
Balance at September 30, 2021   $ 1,026,834     $ (57,378 )   $ 969,456