LEASES (Tables)
|
9 Months Ended |
Mar. 31, 2022 |
|---|
| Leases |
|
| SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE |
Supplemental
balance sheet information related to leases was as follows:
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2022 |
|
|
June 30, 2021 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,238,713 |
|
|
$ |
1,345,869 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
706,684 |
|
|
$ |
857,729 |
|
| Operating, Current |
|
$ |
706,684 |
|
|
$ |
857,729 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
570,871 |
|
|
|
564,257 |
|
| Operating, Non-current |
|
|
570,871 |
|
|
|
564,257 |
|
| Total Lease Liabilities |
|
$ |
1,277,555 |
|
|
$ |
1,421,986 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| |
|
For the Three Months |
|
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
|
Ended March 31, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
16,273 |
|
|
$ |
65,628 |
|
|
$ |
59,201 |
|
|
$ |
142,807 |
|
| Interest on finance lease obligation |
|
|
5,632 |
|
|
|
6,662 |
|
|
|
13,780 |
|
|
|
25,307 |
|
| Operating lease cost |
|
|
137,270 |
|
|
|
319,712 |
|
|
|
518,048 |
|
|
|
950,538 |
|
| Short term lease cost |
|
|
128,008 |
|
|
|
33,138 |
|
|
|
166,789 |
|
|
|
63,209 |
|
| Sub lease income |
|
|
(8,907 |
) |
|
|
(9,155 |
) |
|
|
(27,012 |
) |
|
|
(26,517 |
) |
| Total lease cost |
|
$ |
278,276 |
|
|
$ |
415,985 |
|
|
$ |
730,806 |
|
|
$ |
1,155,344 |
|
|
| SCHEDULE OF LEASE TERM AND DISCOUNT RATE |
Lease
term and discount rate were as follows:
SCHEDULE OF LEASE TERM AND DISCOUNT RATE
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2022 |
|
|
June 30, 2021 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
3.38 Years |
|
|
|
1.78 Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
5.9 |
% |
|
|
5.7 |
% |
|
| SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES |
Supplemental
disclosures of cash flow information related to leases were as follows:
SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES
| |
|
2022 |
|
|
2021 |
|
| |
|
For the Nine Months |
|
| |
|
Ended March 31 |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
541,705 |
|
|
$ |
856,135 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
3,553 |
|
|
$ |
20,138 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related to finance leases |
|
$ |
55,399 |
|
|
$ |
254,985 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of March 31, 2022:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
742,215 |
|
| Within year 2 |
|
|
221,799 |
|
| Within year 3 |
|
|
146,200 |
|
| Within year 4 |
|
|
131,729 |
|
| Within year 5 |
|
|
98,977 |
|
| Thereafter |
|
|
1,621 |
|
| Total Lease Payments |
|
|
1,342,541 |
|
| Less: Imputed interest |
|
|
(64,986 |
) |
| Present Value of lease liabilities |
|
|
1,277,555 |
|
| Less: Current portion |
|
|
(706,684 |
) |
| Non-Current portion |
|
$ |
570,871 |
|
|