LEASES (Tables)
|
3 Months Ended |
Sep. 30, 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 |
|
| |
|
September 30, 2022 |
|
|
June 30, 2022 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,336,742 |
|
|
$ |
969,163 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
531,021 |
|
|
$ |
548,678 |
|
| Operating, Current |
|
$ |
531,021 |
|
|
$ |
548,678 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
836,891 |
|
|
|
447,260 |
|
| Operating, Non-current |
|
|
836,891 |
|
|
|
447,260 |
|
| Total Lease Liabilities |
|
$ |
1,367,912 |
|
|
$ |
995,938 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
|
1 |
|
|
|
2 |
|
| |
|
For the Three Months |
|
| |
|
Ended September 30, |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
2,896 |
|
|
$ |
21,033 |
|
| Interest on finance lease obligation |
|
|
1,807 |
|
|
|
4,936 |
|
| Operating lease cost |
|
|
118,522 |
|
|
|
282,951 |
|
| Short term lease cost |
|
|
66,636 |
|
|
|
- |
|
| Sub lease income |
|
|
(7,812 |
) |
|
|
(9,155 |
) |
| Total lease cost |
|
$ |
182,049 |
|
|
$ |
299,765 |
|
|
| 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 |
|
| |
|
September 30, 2022 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
3.32
Years |
|
|
|
3.34
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
3.9 |
% |
|
|
4.2 |
% |
|
| 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
| |
|
|
1 |
|
|
|
2 |
|
| |
|
For the Three Months |
|
| |
|
Ended September 30 |
|
| |
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
122,121 |
|
|
$ |
272,478 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
1,807 |
|
|
$ |
3,502 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related finance leases |
|
$ |
3,679 |
|
|
$ |
48,908 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of September 30, 2022:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
569,691 |
|
| Within year 2 |
|
|
381,217 |
|
| Within year 3 |
|
|
323,713 |
|
| Within year 4 |
|
|
138,102 |
|
| Within year 5 |
|
|
28,237 |
|
| Thereafter |
|
|
1,013 |
|
| Total Lease Payments |
|
|
1,441,973 |
|
| Less: Imputed interest |
|
|
(74,061 |
) |
| Present Value of lease liabilities |
|
|
1,367,912 |
|
| Less: Current portion |
|
|
(531,021 |
) |
| Non-Current portion |
|
$ |
836,891 |
|
|