LEASES (Tables)
|
9 Months Ended |
Mar. 31, 2023 |
|---|
| 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, 2023 |
|
|
June 30, 2022 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,102,729 |
|
|
$ |
969,163 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
421,223 |
|
|
$ |
548,678 |
|
| Operating, Current |
|
$ |
421,223 |
|
|
$ |
548,678 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
651,443 |
|
|
|
447,260 |
|
| Operating, Non-current |
|
|
651,443 |
|
|
|
447,260 |
|
| Total Lease Liabilities |
|
$ |
1,072,666 |
|
|
$ |
995,938 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
For the Three Months |
|
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
|
Ended March 31, |
|
| |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
7,706 |
|
|
$ |
16,273 |
|
|
$ |
13,701 |
|
|
$ |
59,201 |
|
| Interest on finance lease obligation |
|
|
1,043 |
|
|
|
5,632 |
|
|
|
4,402 |
|
|
|
13,780 |
|
| Operating lease cost |
|
|
115,392 |
|
|
|
137,270 |
|
|
|
346,993 |
|
|
|
518,048 |
|
| Short term lease cost |
|
|
39,356 |
|
|
|
128,008 |
|
|
|
143,978 |
|
|
|
166,789 |
|
| Sub lease income |
|
|
(8,099 |
) |
|
|
(8,907 |
) |
|
|
(23,697 |
) |
|
|
(27,012 |
) |
| Total lease cost |
|
$ |
155,398 |
|
|
$ |
278,276 |
|
|
$ |
485,377 |
|
|
$ |
730,806 |
|
|
| 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, 2023 |
|
|
June 30, 2022 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
3.39
Years |
|
|
|
3.34
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
3.3 |
% |
|
|
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
| |
|
2023 |
|
|
2022 |
|
| |
|
For the Nine Months |
|
| |
|
Ended March 31 |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
358,778 |
|
|
$ |
504,447 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
4,472 |
|
|
$ |
3,553 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related finance leases |
|
$ |
24,362 |
|
|
$ |
55,399 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of March 31, 2023:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
450,939 |
|
| Within year 2 |
|
|
367,359 |
|
| Within year 3 |
|
|
213,770 |
|
| Within year 4 |
|
|
92,657 |
|
| Within year 5 |
|
|
465 |
|
| Thereafter |
|
|
582 |
|
| Total Lease Payments |
|
|
1,125,772 |
|
| Less: Imputed interest |
|
|
(53,106 |
) |
| Present Value of lease liabilities |
|
|
1,072,666 |
|
| Less: Current portion |
|
|
(421,223 |
) |
| Non-Current portion |
|
$ |
651,443 |
|
|