Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.23.3
PROPERTY AND EQUIPMENT (Tables)
 12 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

 

    As of     As of  
    June 30, 2023     June 30, 2022  
             
Office Furniture and Equipment   $ 2,678,664     $ 3,021,586  
Computer Equipment     8,317,131       11,388,856  
Assets Under Capital Leases     46,554       305,081  
Building     3,497,913       4,818,650  
Land     885,474       1,237,965  
Autos     1,941,063       2,503,990  
Improvements     205,289       175,560  
Subtotal     17,572,088       23,451,688  
Accumulated Depreciation     (11,410,902 )     (14,069,064 )
Property and Equipment, Net   $ 6,161,186     $ 9,382,624  
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES

Following is a summary of fixed assets held under capital leases as of June 30, 2023 and 2022:

 

    As of     As of  
    June 30, 2023     June 30, 2022  
Vehicles   $ 46,554     $ 305,081  
Total     46,554       305,081  
Less: Accumulated Depreciation - Net     (17,366 )     (145,658 )
Fixed assets held under capital leases, Total   $ 29,188     $ 159,423  
SCHEDULE OF FINANCE LEASE TERM

Finance lease term and discount rate were as follows:

 

    As of     As of  
    June 30, 2023     June 30, 2022  
             
Weighted average remaining lease term - Finance leases     1.21 Years       2.39 Years  
                 
Weighted average discount rate - Finance leases     16.4%     12.5%