Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.22.2.2
PROPERTY AND EQUIPMENT (Tables)
3 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

 

    As of     As of  
    September 30, 2022     June 30, 2022  
             
Office Furniture and Equipment   $ 2,792,403     $ 3,021,586  
Computer Equipment     11,147,529       11,388,856  
Assets Under Capital Leases     58,616       305,081  
Building     4,357,506       4,818,650  
Land     1,114,891       1,237,965  
Autos     2,411,407       2,503,990  
Improvements     215,538       175,560  
Subtotal     22,097,890       23,451,688  
Accumulated Depreciation     (13,247,239 )     (14,069,064 )
Property and Equipment, Net   $ 8,850,651     $ 9,382,624  
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES

Following is a summary of fixed assets held under finance leases as of September 30, 2022 and June 30, 2022:

 

    As of     As of  
    September 30, 2022     June 30, 2022  
Vehicles   $ 58,616     $ 305,081  
Total     58,616       305,081  
Less: Accumulated Depreciation - Net     (13,073 )     (145,658 )
Fixed assets held under finance leases, Total   $ 45,543     $ 159,423  
SCHEDULE OF FINANCE LEASE TERM

Finance lease term and discount rate were as follows:

 

    As of     As of  
    September 30, 2022     June 30, 2022  
             
Weighted average remaining lease term - Finance leases     2.55 Years       2.39 Years  
                 
Weighted average discount rate - Finance leases     16.0 %     12.5 %