Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

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LEASES (Tables)
 6 Months Ended
Dec. 31, 2023
Leases  
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE

Supplemental balance sheet information related to leases was as follows:

 

    As of     As of  
   

December 31,

2023

    

June 30,

2023

  
Assets                
Operating lease assets, net   $ 1,659,622     $ 1,151,575  
                 
Liabilities                
Current                
Operating   $ 689,770     $ 505,237  
Non-current                
Operating     1,022,361       652,194  
Total Lease Liabilities   $ 1,712,131     $ 1,157,431  
SCHEDULE OF COMPONENTS OF LEASE COST

The components of lease cost were as follows:

 

    2023     2022     2023     2022  
    For the Three Months     For the Six Months  
    Ended December 31,     Ended December 31,  
    2023     2022     2023     2022  
                         
Amortization of finance lease assets   $ 2,365     $ 3,099     $ 4,661     $ 5,995  
Interest on finance lease obligation     770       1,552       1,639       3,359  
Operating lease cost     98,309       113,079       205,342       231,601  
Short term lease cost     40,216       37,986       81,224       104,622  
Sub lease income     (8,199 )     (7,786 )     (16,605 )     (15,598 )
Total lease cost   $ 133,461     $ 147,930     $ 276,261     $ 329,979  

SCHEDULE OF LEASE TERM AND DISCOUNT RATE

Lease term and discount rate were as follows:

 

    As of   As of  
    December 31, 2023   June 30, 2023  
           
Weighted average remaining lease term - Operating leases   2.41 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:

 

    2023     2022  
    For the Six Months  
    Ended December 31,  
    2023     2022  
             
Operating cash flows related to operating leases   $ 140,514     $ 236,311  
                 
Operating cash flows related to finance leases   $ 1,638     $ 3,358  
                 
Financing cash flows related finance leases   $ 16,424     $ 16,230  
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Maturities of operating lease liabilities were as follows as of December 31, 2023:

 

    Amount  
Within year 1   $ 763,409  
Within year 2     565,341  
Within year 3     347,701  
Within year 4     108,548  
Within year 5     81,529  
Thereafter     236  
Total Lease Payments     1,866,764  
Less: Imputed interest     (154,633 )
Present Value of lease liabilities     1,712,131  
Less: Current portion     (689,770 )
Non-Current portion   $ 1,022,361