Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT (Tables)

v3.22.1
PROPERTY AND EQUIPMENT (Tables)
9 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
SCHEDULE OF PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    As of     As of  
    March 31, 2022     June 30, 2021  
             
Office Furniture and Equipment   $ 3,287,329     $ 3,440,501  
Computer Equipment     14,122,850       18,681,991  
Assets Under Capital Leases     341,927       1,136,128  
Building     5,378,874       6,205,210  
Land     1,387,483       1,608,024  
Autos     2,244,069       1,770,147  
Improvements     191,934       35,592  
Subtotal     26,954,466       32,877,593  
Accumulated Depreciation     (16,840,008 )     (20,785,781 )
Property and Equipment, Net   $ 10,114,458     $ 12,091,812  
SUMMARY OF FIXED ASSETS HELD UNDER CAPITAL LEASES

Following is a summary of fixed assets held under finance leases as of March 31, 2022 and June 30, 2021:

 

    As of     As of  
    March 31, 2022     June 30, 2021  
Computers and Other Equipment   $ -     $ 169,487  
Furniture and Fixtures     -       57,509  
Vehicles     341,927       909,132  
Total     341,927       1,136,128  
Less: Accumulated Depreciation - Net     (149,740 )     (627,119 )
Fixed assets held under finance leases, Total   $ 192,187     $ 509,009  
SCHEDULE OF FINANCE LEASE TERM

Finance lease term and discount rate were as follows:

 

    As of     As of  
    March 31, 2022     June 30, 2021  
             
Weighted average remaining lease term - Finance leases     2.18 Years       0.55 Years  
                 
Weighted average discount rate - Finance leases     9.7 %     5.6 %