Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.24.3
LEASES (Tables)
 3 Months Ended
Sep. 30, 2024
Leases  
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE

Supplemental balance sheet information related to leases was as follows:

 

    As of     As of  
    September 30, 2024     June 30, 2024  
Assets                
Operating lease assets, net   $ 1,216,835     $ 1,328,624  
                 
Liabilities                
Current                
Operating   $ 590,541     $ 608,202  
Non-current                
Operating     594,631       688,749  
Total Lease Liabilities   $ 1,185,172     $ 1,296,951  
SCHEDULE OF COMPONENTS OF LEASE COST

The components of lease cost were as follows:

 

    2024     2023  
    For the Three Months  
    Ended September 30,  
    2024     2023  
             
Amortization of finance lease assets   $ 13,877     $ 2,296  
Interest on finance lease obligation     3,087       869  
Operating lease cost     99,846       107,033  
Short term lease cost     49,563       41,008  
Sub lease income     (8,406 )     (8,406 )
Total lease cost   $ 157,967     $ 142,800  
SCHEDULE OF LEASE TERM AND DISCOUNT RATE

Lease term and discount rate were as follows:

 

    As of     As of  
    September 30, 2024     June 30, 2024  
             
Weighted average remaining lease term - Operating leases     1.79 Years       1.99 Years  
                 
Weighted average discount rate - Operating leases     4.5 %     4.5 %
SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES

Supplemental disclosures of cash flow information related to leases were as follows:

 

    2024     2023  
    For the Three Months  
    Ended September 30,  
    2024     2023  
             
             
Operating cash flows related to operating leases   $ 91,641     $ 61,696  
                 
Operating cash flows related to finance leases   $ 3,087     $ 869  
                 
Financing cash flows related finance leases   $ 5,516     $ 8,078  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Maturities of operating lease liabilities were as follows as of September 30, 2024:

 

    Amount  
Within year 1   $ 641,066  
Within year 2     401,625  
Within year 3     147,504  
Within year 4     85,855  
Within year 5     356  
Total Lease Payments     1,276,406  
Less: Imputed interest     (91,234 )
Present Value of lease liabilities     1,185,172  
Less:  Current portion     (590,541 )
Non-Current portion   $ 594,631