| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property
and equipment consisted of the following:
SCHEDULE OF PROPERTY AND EQUIPMENT
| |
|
As of |
|
|
As of |
|
| |
|
December 31,
2023
|
|
|
June 30,
2023
|
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
2,427,955 |
|
|
$ |
2,678,664 |
|
| Computer Equipment |
|
|
8,432,290 |
|
|
|
8,317,131 |
|
| Assets Under Capital Leases |
|
|
47,793 |
|
|
|
46,554 |
|
| Building |
|
|
3,586,175 |
|
|
|
3,497,913 |
|
| Land |
|
|
909,031 |
|
|
|
885,474 |
|
| Autos |
|
|
2,074,702 |
|
|
|
1,941,063 |
|
| Improvements |
|
|
212,978 |
|
|
|
205,289 |
|
| Subtotal |
|
|
17,690,924 |
|
|
|
17,572,088 |
|
| Accumulated Depreciation |
|
|
(12,025,225 |
) |
|
|
(11,410,902 |
) |
| Property and Equipment, Net |
|
$ |
5,665,699 |
|
|
$ |
6,161,186 |
|
|
| SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES |
Following
is a summary of fixed assets held under finance leases as of December 31, 2023 and June 30, 2023:
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of |
|
|
As of |
|
| |
|
December 31,
2023
|
|
|
June 30,
2023
|
|
| Vehicles |
|
$ |
47,793 |
|
|
$ |
46,554 |
|
| Total |
|
|
47,793 |
|
|
|
46,554 |
|
| Less: Accumulated Depreciation - Net |
|
|
(22,607 |
) |
|
|
(17,366 |
) |
| Fixed assets
held under capital leases, Total |
|
$ |
25,186 |
|
|
$ |
29,188 |
|
|
| 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, 2023 |
|
June 30, 2023 |
|
| |
|
|
|
|
|
| Weighted average remaining lease term - Finance leases |
|
0.84 Years |
|
1.21 Years |
|
| |
|
|
|
|
|
| Weighted average discount rate - Finance leases |
|
16.4% |
|
16.4% |
|
|