| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property
and equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2023 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
2,671,137 |
|
|
$ |
3,021,586 |
|
| Computer Equipment |
|
|
9,023,276 |
|
|
|
11,388,856 |
|
| Assets Under Capital Leases |
|
|
47,112 |
|
|
|
305,081 |
|
| Building |
|
|
3,537,674 |
|
|
|
4,818,650 |
|
| Land |
|
|
896,086 |
|
|
|
1,237,965 |
|
| Autos |
|
|
1,920,072 |
|
|
|
2,503,990 |
|
| Improvements |
|
|
212,431 |
|
|
|
175,560 |
|
| Subtotal |
|
|
18,307,788 |
|
|
|
23,451,688 |
|
| Accumulated Depreciation |
|
|
(11,436,752 |
) |
|
|
(14,069,064 |
) |
| Property and Equipment, Net |
|
$ |
6,871,036 |
|
|
$ |
9,382,624 |
|
|
| SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES |
Following
is a summary of fixed assets held under finance leases as of March 31, 2023 and June 30, 2022:
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2023 |
|
|
June 30, 2022 |
|
| Vehicles |
|
$ |
47,112 |
|
|
$ |
305,081 |
|
| Total |
|
|
47,112 |
|
|
|
305,081 |
|
| Less: Accumulated Depreciation - Net |
|
|
(15,218 |
) |
|
|
(145,658 |
) |
| Fixed assets held under
finance leases, Total |
|
$ |
31,894 |
|
|
$ |
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 |
|
| |
|
March 31, 2023 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Finance leases |
|
|
1.42
Years |
|
|
|
2.39
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Finance leases |
|
|
16.4 |
% |
|
|
12.5 |
% |
|