Leases (Tables)
|
3 Months Ended |
Sep. 30, 2020 |
|---|
| Leases [Abstract] |
|
| Schedule of Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases was as
follows:
| |
|
As of |
|
|
As of |
|
| |
|
September 30, 2020 |
|
|
June 30, 2020 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
2,133,902 |
|
|
$ |
2,360,129 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
1,165,957 |
|
|
$ |
1,111,912 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
1,110,832 |
|
|
|
1,339,965 |
|
| Total Lease Liabilities |
|
$ |
2,276,789 |
|
|
$ |
2,451,877 |
|
|
| Schedule of Components of Lease Cost |
The components of lease cost were as follows:
| |
|
For the Three Months |
|
| |
|
Ended September 30, |
|
| |
|
2020 |
|
|
2019 |
|
| |
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
45,253 |
|
|
$ |
26,330 |
|
| Interest on finance lease obligation |
|
|
11,692 |
|
|
|
22,918 |
|
| Operating lease cost |
|
|
320,086 |
|
|
|
263,577 |
|
| Short term lease cost |
|
|
16,578 |
|
|
|
74,110 |
|
| Sub lease income |
|
|
(8,624 |
) |
|
|
(8,199 |
) |
| Total lease cost |
|
$ |
384,985 |
|
|
$ |
378,736 |
|
|
| Schedule of Lease Term and Discount Rate |
Lease term and discount rate were as follows:
| |
|
As of |
|
| |
|
September 30, 2020 |
|
| |
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
2.26 Years |
|
| |
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
5.6 |
% |
|
| Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases |
Supplemental disclosures of cash flow information related to leases
were as follows:
| |
|
For the Three Months Ended |
|
| |
|
September 30, 2020 |
|
|
September 30, 2019 |
|
| |
|
|
|
|
|
|
| Cash flows related to lease liabilities |
|
|
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
269,783 |
|
|
$ |
232,268 |
|
|
| Schedule of Maturities of Operating Lease Liabilities |
Maturities of operating lease liabilities were as follows as of
September 30, 2020:
| |
|
|
|
| |
|
Amount |
|
| Within year 1 |
|
$ |
1,256,971 |
|
| Within year 2 |
|
|
801,053 |
|
| Within year 3 |
|
|
300,565 |
|
| Within year 4 |
|
|
58,591 |
|
| Within year 5 |
|
|
797 |
|
| Thereafter |
|
|
2,988 |
|
| Total Lease Payments |
|
|
2,420,965 |
|
| Less: Imputed interest |
|
|
(144,176 |
) |
| Present Value of lease liabilities |
|
|
2,276,789 |
|
| Less: Current portion |
|
|
(1,165,957 |
) |
| Non-Current portion |
|
$ |
1,110,832 |
|
|