LEASES (Tables)
|
6 Months Ended |
Dec. 31, 2021 |
|---|
| Leases |
|
| SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE |
Supplemental
balance sheet information related to leases was as follows:
SCHEDULE
OF BALANCE SHEET INFORMATION RELATED TO LEASE
| |
|
As
of |
|
|
As
of |
|
| |
|
December
31, 2021 |
|
|
June
30, 2021 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating
lease assets, net |
|
$ |
1,029,294 |
|
|
$ |
1,345,869 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
770,559 |
|
|
$ |
857,729 |
|
| Operating, current |
|
$ |
770,559 |
|
|
$ |
857,729 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
319,613 |
|
|
|
564,257 |
|
| Operating, non-current |
|
|
319,613 |
|
|
|
564,257 |
|
| Total
Lease Liabilities |
|
$ |
1,090,172 |
|
|
$ |
1,421,986 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE
OF COMPONENTS OF LEASE COST
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
For
the Three Months |
|
|
For
the Six Months |
|
| |
|
Ended
December 31, |
|
|
Ended
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization
of finance lease assets |
|
$ |
21,895 |
|
|
$ |
31,926 |
|
|
$ |
42,928 |
|
|
$ |
77,179 |
|
| Interest
on finance lease obligation |
|
|
3,212 |
|
|
|
6,953 |
|
|
|
8,148 |
|
|
|
18,645 |
|
| Operating
lease cost |
|
|
97,827 |
|
|
|
310,740 |
|
|
|
380,778 |
|
|
|
630,826 |
|
| Short
term lease cost |
|
|
38,781 |
|
|
|
13,493 |
|
|
|
38,781 |
|
|
|
30,071 |
|
| Sub
lease income |
|
|
(8,950 |
) |
|
|
(8,738 |
) |
|
|
(18,105 |
) |
|
|
(17,362 |
) |
| Total
lease cost |
|
$ |
152,765 |
|
|
$ |
354,374 |
|
|
$ |
452,530 |
|
|
$ |
739,359 |
|
|
| SCHEDULE OF LEASE TERM AND DISCOUNT RATE |
Lease
term and discount rate were as follows:
SCHEDULE
OF LEASE TERM AND DISCOUNT RATE
| |
|
As
of |
|
|
As
of |
|
| |
|
December
31, 2021 |
|
|
June
30, 2021 |
|
| |
|
|
|
|
|
|
| Weighted
average remaining lease term - Operating leases |
|
|
1.65
Years |
|
|
|
1.78
Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted
average discount rate - Operating leases |
|
|
5.9 |
% |
|
|
5.7 |
% |
|
| SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES |
Supplemental
disclosures of cash flow information related to leases were as follows:
SCHEDULE
OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES
| |
|
|
|
|
|
|
|
|
| |
|
For
the Six Months |
|
| |
|
Ended
December 31 |
|
| |
|
2021 |
|
|
2020 |
|
| |
|
|
|
|
|
|
| Cash
flows related to lease liabilities |
|
|
|
|
|
|
|
|
| Operating
cash flows related to operating leases |
|
$ |
393,765 |
|
|
$ |
529,970 |
|
| |
|
|
|
|
|
|
|
|
| Operating
cash flows from finance leases |
|
$ |
3,531 |
|
|
$ |
13,767 |
|
| |
|
|
|
|
|
|
|
|
| Financing
cash flows from finance leases |
|
$ |
54,844 |
|
|
$ |
168,624 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of December 31, 2021:
SCHEDULE
OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within
year 1 |
|
$ |
809,508 |
|
| Within
year 2 |
|
|
262,760 |
|
| Within
year 3 |
|
|
62,912 |
|
| Within
year 4 |
|
|
744 |
|
| Within
year 5 |
|
|
744 |
|
| Thereafter |
|
|
1,859 |
|
| Total
Lease Payments |
|
|
1,138,527 |
|
| Less:
Imputed interest |
|
|
(48,355 |
) |
| Present Value of
lease liabilities |
|
|
1,090,172 |
|
| Less:
Current portion |
|
|
(770,559 |
) |
| Non-Current
portion |
|
$ |
319,613 |
|
|