| SCHEDULE OF PROPERTY AND EQUIPMENT |
Property
and equipment consisted of the following:
SCHEDULE
OF PROPERTY AND EQUIPMENT
| |
|
As of
December 31, 2021
|
|
|
As of
June 30, 2021
|
|
| |
|
|
|
|
|
|
| Office
Furniture and Equipment |
|
$ |
3,363,282 |
|
|
$ |
3,440,501 |
|
| Computer
Equipment |
|
|
14,036,802 |
|
|
|
18,681,991 |
|
| Assets
Under Capital Leases |
|
|
584,322 |
|
|
|
1,136,128 |
|
| Building |
|
|
5,547,302 |
|
|
|
6,205,210 |
|
| Land |
|
|
1,432,435 |
|
|
|
1,608,024 |
|
| Autos |
|
|
1,903,072 |
|
|
|
1,770,147 |
|
| Improvements |
|
|
195,465 |
|
|
|
35,592 |
|
| Subtotal |
|
|
27,062,680 |
|
|
|
32,877,593 |
|
| Accumulated
Depreciation |
|
|
(16,797,295 |
) |
|
|
(20,785,781 |
) |
| Property
and Equipment, Net |
|
$ |
10,265,385 |
|
|
$ |
12,091,812 |
|
|
| SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES |
Following
is a summary of fixed assets held under finance leases as of December 31, 2021 and June 30, 2021:
SUMMARY
OF FIXED ASSETS HELD UNDER CAPITAL LEASES
| |
|
As of
December 31, 2021
|
|
|
As of
June 30, 2021
|
|
| Computers
and Other Equipment |
|
$ |
- |
|
|
$ |
169,487 |
|
| Furniture
and Fixtures |
|
|
- |
|
|
|
57,509 |
|
| Vehicles |
|
|
584,322 |
|
|
|
909,132 |
|
| Total |
|
|
584,322 |
|
|
|
1,136,128 |
|
| Less:
Accumulated Depreciation - Net |
|
|
(265,010 |
) |
|
|
(627,119 |
) |
| |
|
$ |
319,312 |
|
|
$ |
509,009 |
|
|
| SCHEDULE OF FINANCE LEASE TERM |
Finance
lease term and discount rate were as follows:
SCHEDULE
OF FINANCE LEASE TERM
| |
|
As of
December 31, 2021
|
|
|
As of
June 30, 2021
|
|
| |
|
|
|
|
|
|
| Weighted
average remaining lease term - Finance leases |
|
|
1.99
Years |
|
|
|
0.55
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted
average discount rate - Finance leases |
|
|
7.6 |
% |
|
|
5.6 |
% |
|