Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION (Tables)

v3.23.3
REVENUE RECOGNITION (Tables)
 12 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
SCHEDULE OF DISAGGREGATED REVENUE BY CATEGORY

The Company’s disaggregated revenue by category is as follows:

    2023     2022  
    For the Years  
    Ended June 30,  
    2023     2022  
Core:                
License   $ 2,269,564     $ 4,539,260  
Subscription and support     25,980,661       28,284,759  
Services     19,676,414       19,519,508  
Total core revenue, net     47,926,639       52,343,527  
                 
Non-Core:                
Services     4,466,576       4,904,452  
Total non-core revenue, net     4,466,576       4,904,452  
                 
Total net revenue   $ 52,393,215     $ 57,247,979  
SCHEDULE OF REVENUES IN EXCESS OF BILLINGS AND DEFERRED REVENUE

The Company’s revenues in excess of billings and unearned revenue are as follows:

 

    As of     As of  
    June 30, 2023     June 30, 2022  
             
Revenues in excess of billings   $ 12,377,677     $ 15,425,377  
                 
Unearned revenue   $ 7,932,306     $ 4,901,562  
SCHEDULE OF UNEARNED REVENUE RECONCILIATION

The Company’s unearned revenue reconciliation is as follows:

 

    Unearned Revenue  
       
Balance at June 30, 2021   $ 4,556,626  
Invoiced     18,800,227  
Revenue Recognized     (17,881,803 )
Adjustments     (573,488 )
Balance at June 30, 2022     4,901,562  
Invoiced     23,549,941  
Revenue Recognized     (19,762,568 )
Adjustments     (756,629 )
Balance at June 30, 2023   $ 7,932,306