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Long Term Debt (Tables)

12 Months Ended

Jun. 30, 2020

Line of Credit Facility [Abstract]

Schedule of long-term debt

Convertible Notes (at fair value)		$	14,131,000
PPP loan			2,204,600
Subtotal			16,335,600
Less: current maturities			(6,135,364	)
Total long-term debt, less current portion		$	10,200,236

Schedule of maturities of outstanding long-term debt obligations in subsequent years

Fiscal Year ending June 30,
2021		$	6,844,620
2022			12,359,980
Aggregate maturities			19,204,600
Original issue discount on Convertible Notes			(2,040,000	)
Unrealized change in fair value of Convertible Notes			(829,000	)
Long term debt outstanding as of June 30, 2020		$	16,335,600

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of maturity and sinking fund requirement for long-term debt.

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