| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property and
equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
|
As of |
|
|
As of |
|
| |
|
December 31, 2022 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
2,905,429 |
|
|
$ |
3,021,586 |
|
| Computer Equipment |
|
|
11,712,255 |
|
|
|
11,388,856 |
|
| Assets Under Capital Leases |
|
|
59,033 |
|
|
|
305,081 |
|
| Building |
|
|
4,387,210 |
|
|
|
4,818,650 |
|
| Land |
|
|
1,122,819 |
|
|
|
1,237,965 |
|
| Autos |
|
|
2,500,251 |
|
|
|
2,503,990 |
|
| Improvements |
|
|
228,291 |
|
|
|
175,560 |
|
| Subtotal |
|
|
22,915,288 |
|
|
|
23,451,688 |
|
| Accumulated Depreciation |
|
|
(14,195,631 |
) |
|
|
(14,069,064 |
) |
| Property and Equipment, Net |
|
$ |
8,719,657 |
|
|
$ |
9,382,624 |
|
|
| SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES |
Following is
a summary of fixed assets held under finance leases as of December 31, 2022 and June 30, 2022:
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of |
|
|
As of |
|
| |
|
December 31, 2022 |
|
|
June 30, 2022 |
|
| Vehicles |
|
$ |
59,033 |
|
|
$ |
305,081 |
|
| Total |
|
|
59,033 |
|
|
|
305,081 |
|
| Less: Accumulated Depreciation - Net |
|
|
(16,117 |
) |
|
|
(145,658 |
) |
| Fixed assets held under
finance leases, Total |
|
$ |
42,916 |
|
|
$ |
159,423 |
|
|
| SCHEDULE OF FINANCE LEASE TERM |
Finance lease
term and discount rate were as follows:
SCHEDULE OF FINANCE LEASE TERM
| |
|
As of |
|
|
As of |
|
| |
|
December 31, 2022 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Finance leases |
|
|
1.66 Years |
|
|
|
2.39 Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Finance leases |
|
|
16.5 |
% |
|
|
12.5 |
% |
|