v3.21.1

Lease Agreements | 9 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
Lease Agreements | Note 9 - Lease Agreements The Company has financing lease liabilities for offices and warehouses with monthly installments of $12,449 (ranging from $1,083 to $3,524) including imputed interest (ranging from 0% to 2%), over 2-year terms plus extensions, expiring through July 2023.
Right-of-use assets: |
| Operating right-of-use assets | $176,624
Operating lease liabilities: |
| Current portion of long term payable | 110,099
| Financing leases payable, less current portion | 76,020
| Total financing lease liabilities | $186,119
As of March 31, 2021, financing lease maturities are as follows:
Period ending March 31, |
2022 | $110,099
2023 | 76,020
| $186,119
As of March 31, 2021, the weighted average remaining lease term was 1.2 years.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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