| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property
and equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2022 |
|
|
June 30, 2021 |
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
3,287,329 |
|
|
$ |
3,440,501 |
|
| Computer Equipment |
|
|
14,122,850 |
|
|
|
18,681,991 |
|
| Assets Under Capital Leases |
|
|
341,927 |
|
|
|
1,136,128 |
|
| Building |
|
|
5,378,874 |
|
|
|
6,205,210 |
|
| Land |
|
|
1,387,483 |
|
|
|
1,608,024 |
|
| Autos |
|
|
2,244,069 |
|
|
|
1,770,147 |
|
| Improvements |
|
|
191,934 |
|
|
|
35,592 |
|
| Subtotal |
|
|
26,954,466 |
|
|
|
32,877,593 |
|
| Accumulated Depreciation |
|
|
(16,840,008 |
) |
|
|
(20,785,781 |
) |
| Property and Equipment, Net |
|
$ |
10,114,458 |
|
|
$ |
12,091,812 |
|
|
| SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES |
Following
is a summary of fixed assets held under finance leases as of March 31, 2022 and June 30, 2021:
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2022 |
|
|
June 30, 2021 |
|
| Computers and Other Equipment |
|
$ |
- |
|
|
$ |
169,487 |
|
| Furniture and Fixtures |
|
|
- |
|
|
|
57,509 |
|
| Vehicles |
|
|
341,927 |
|
|
|
909,132 |
|
| Total |
|
|
341,927 |
|
|
|
1,136,128 |
|
| Less: Accumulated Depreciation - Net |
|
|
(149,740 |
) |
|
|
(627,119 |
) |
| Fixed assets held under
finance leases, Total |
|
$ |
192,187 |
|
|
$ |
509,009 |
|
|
| SCHEDULE OF FINANCE LEASE TERM |
Finance
lease term and discount rate were as follows:
SCHEDULE OF FINANCE LEASE TERM
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2022 |
|
|
June 30, 2021 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Finance leases |
|
|
2.18 Years |
|
|
|
0.55 Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Finance leases |
|
|
9.7 |
% |
|
|
5.6 |
% |
|