LEASES (Tables)
|
6 Months Ended |
Dec. 31, 2024 |
|---|
| 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, 2024 |
|
|
June 30, 2024 |
|
| Assets |
|
|
|
|
|
|
|
|
| Operating lease assets, net |
|
$ |
1,069,948 |
|
|
$ |
1,328,624 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
|
|
|
|
|
|
|
| Current |
|
|
|
|
|
|
|
|
| Operating |
|
$ |
518,075 |
|
|
$ |
608,202 |
|
| Operating, Current |
|
$ |
518,075 |
|
|
$ |
608,202 |
|
| Non-current |
|
|
|
|
|
|
|
|
| Operating |
|
|
512,062 |
|
|
|
688,749 |
|
| Operating, Noncurrent |
|
|
512,062 |
|
|
|
688,749 |
|
| Total Lease Liabilities |
|
$ |
1,030,137 |
|
|
$ |
1,296,951 |
|
|
| SCHEDULE OF COMPONENTS OF LEASE COST |
The components of lease cost
were as follows:
SCHEDULE OF COMPONENTS OF LEASE COST
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
For the Three Months
Ended December 31, |
|
|
For the Six Months
Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization of finance lease assets |
|
$ |
7,720 |
|
|
$ |
2,365 |
|
|
$ |
21,597 |
|
|
$ |
4,661 |
|
| Interest on finance lease obligation |
|
|
2,907 |
|
|
|
770 |
|
|
|
5,994 |
|
|
|
1,639 |
|
| Operating lease cost |
|
|
98,492 |
|
|
|
98,309 |
|
|
|
198,338 |
|
|
|
205,342 |
|
| Short term lease cost |
|
|
60,477 |
|
|
|
40,216 |
|
|
|
110,040 |
|
|
|
81,224 |
|
| Sub lease income |
|
|
(8,514 |
) |
|
|
(8,199 |
) |
|
|
(16,920 |
) |
|
|
(16,605 |
) |
| Total lease cost |
|
$ |
161,082 |
|
|
$ |
133,461 |
|
|
$ |
319,049 |
|
|
$ |
276,261 |
|
|
| 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, 2024 |
|
|
June 30, 2024 |
|
| |
|
|
|
|
|
|
| Weighted average remaining lease term - Operating leases |
|
|
1.59 Years |
|
|
|
1.99 Years |
|
| |
|
|
|
|
|
|
|
|
| Weighted average discount rate - Operating leases |
|
|
4.5 |
% |
|
|
4.5 |
% |
|
| 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
| |
|
2024 |
|
|
2023 |
|
| |
|
For the Six Months |
|
| |
|
Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
|
|
|
|
|
| Operating cash flows related to operating leases |
|
$ |
185,514 |
|
|
$ |
140,514 |
|
| |
|
|
|
|
|
|
|
|
| Operating cash flows related to finance leases |
|
$ |
5,994 |
|
|
$ |
1,638 |
|
| |
|
|
|
|
|
|
|
|
| Financing cash flows related finance leases |
|
$ |
9,296 |
|
|
$ |
16,424 |
|
|
| SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES |
Maturities of operating lease
liabilities were as follows as of December 31, 2024:
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES
| |
|
Amount |
|
| Within year 1 |
|
$ |
559,279 |
|
| Within year 2 |
|
|
367,204 |
|
| Within year 3 |
|
|
127,730 |
|
| Within year 4 |
|
|
53,837 |
|
| Within year 5 |
|
|
237 |
|
| Total Lease Payments |
|
|
1,108,287 |
|
| Less: Imputed interest |
|
|
(78,150 |
) |
| Present Value of lease liabilities |
|
|
1,030,137 |
|
| Less: Current portion |
|
|
(518,075 |
) |
| Non-Current portion |
|
$ |
512,062 |
|
|