LEASES (Tables)
|
3 Months Ended |
Sep. 30, 2023 |
|---|
| 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
September 30,
2023 |
|
|
As of
June 30,
2023 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,359,106 |
|
|
$ |
1,151,575 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
538,363 |
|
|
$ |
505,237 |
|
| Operating, Current |
|
$ |
538,363 |
|
|
$ |
505,237 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
795,935 |
|
|
|
652,194 |
|
| Operating, Non Current |
|
|
795,935 |
|
|
|
652,194 |
|
| Total Lease Liabilities |
|
$ |
1,334,298 |
|
|
$ |
1,157,431 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The
components of lease cost were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
2023 |
|
|
2022 |
|
| |
|
For the Three Months Ended
September 30, |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
2,296 |
|
|
$ |
2,896 |
|
| Interest on finance lease obligation |
|
|
869 |
|
|
|
1,807 |
|
| Operating lease cost |
|
|
107,033 |
|
|
|
118,522 |
|
| Short term lease cost |
|
|
41,008 |
|
|
|
66,636 |
|
| Sub lease income |
|
|
(8,406 |
) |
|
|
(7,812 |
) |
| Total lease cost |
|
$ |
142,800 |
|
|
$ |
182,049 |
|
|
| SCHEDULE OF LEASE TERM AND DISCOUNT RATE |
Lease
term and discount rate were as follows:
SCHEDULE OF LEASE TERM AND DISCOUNT RATE
| |
|
As of
September 30,
2023 |
|
|
As of
June 30,
2023 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
2.64 Years |
|
|
|
3.09 Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
4.6 |
% |
|
|
4.0 |
% |
|
| 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
| |
|
2023 |
|
|
2022 |
|
| |
|
For the Three Months
Ended September 30 |
|
| |
|
2023 |
|
|
2022 |
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
61,696 |
|
|
$ |
122,121 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
869 |
|
|
$ |
1,807 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related finance leases |
|
$ |
8,078 |
|
|
$ |
3,679 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities
of operating lease liabilities were as follows as of September 30, 2023:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
586,637 |
|
| Within year 2 |
|
|
520,197 |
|
| Within year 3 |
|
|
274,418 |
|
| Within year 4 |
|
|
30,815 |
|
| Within year 5 |
|
|
459 |
|
| Thereafter |
|
|
344 |
|
| Total Lease Payments |
|
|
1,412,870 |
|
| Less: Imputed interest |
|
|
(78,572 |
) |
| Present Value of lease liabilities |
|
|
1,334,298 |
|
| Less: Current portion |
|
|
(538,363 |
) |
| Non-Current portion |
|
$ |
795,935 |
|
|