Leases (Tables)
|
9 Months Ended |
Mar. 31, 2021 |
|---|
| Leases [Abstract] |
|
| Schedule of Balance Sheet Information Related to Leases |
Supplemental balance sheet information related to leases was as follows:
| |
|
As of |
|
|
As of |
|
| |
|
March 31, 2021 |
|
|
June 30, 2020 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,637,125 |
|
|
$ |
2,360,129 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
956,006 |
|
|
$ |
1,111,912 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
761,653 |
|
|
|
1,339,965 |
|
| Total Lease Liabilities |
|
$ |
1,717,659 |
|
|
$ |
2,451,877 |
|
|
| Schedule of Components of Lease Cost |
The components of lease cost were as follows:
| |
|
For the Three Months |
|
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
|
Ended March 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
65,628 |
|
|
$ |
59,632 |
|
|
$ |
142,807 |
|
|
$ |
194,632 |
|
| Interest on finance lease obligation |
|
|
6,662 |
|
|
|
19,085 |
|
|
|
25,307 |
|
|
|
71,416 |
|
| Operating lease cost |
|
|
319,712 |
|
|
|
333,886 |
|
|
|
950,538 |
|
|
|
931,955 |
|
| Short term lease cost |
|
|
33,138 |
|
|
|
75,897 |
|
|
|
63,209 |
|
|
|
228,869 |
|
| Sub lease income |
|
|
(9,155 |
) |
|
|
(8,514 |
) |
|
|
(26,517 |
) |
|
|
(25,227 |
) |
| Total lease cost |
|
$ |
415,985 |
|
|
$ |
479,986 |
|
|
$ |
1,155,344 |
|
|
$ |
1,401,645 |
|
|
| Schedule of Lease Term and Discount Rate |
Lease term and discount rate were as follows:
| |
|
As of |
|
| |
|
March 31, 2021 |
|
| |
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
1.64 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 Nine Months |
|
| |
|
Ended March 31 |
|
| |
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
| Cash flows related to lease liabilities |
|
|
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
856,135 |
|
|
$ |
905,076 |
|
|
| Schedule of Maturities of Operating Lease Liabilities |
Maturities of operating lease liabilities were as follows as of March 31,
2021:
| |
|
Amount |
|
| Within year 1 |
|
$ |
1,022,176 |
|
| Within year 2 |
|
|
634,186 |
|
| Within year 3 |
|
|
130,701 |
|
| Within year 4 |
|
|
21,450 |
|
| Within year 5 |
|
|
862 |
|
| Thereafter |
|
|
2,802 |
|
| Total Lease Payments |
|
|
1,812,177 |
|
| Less: Imputed interest |
|
|
(94,518 |
) |
| Present Value of lease liabilities |
|
|
1,717,659 |
|
| Less: Current portion |
|
|
(956,006 |
) |
| Non-Current portion |
|
$ |
761,653 |
|
|