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v3.23.2

Leases (Tables) | 12 Months Ended
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Jun. 30, 2023
Leases |
Lease costs |
|  | Year Ended June 30, |
|  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 875,454 |  |  | $ | 668,054 |
Finance lease cost: |  |  |  |  |  |  |  |
Depreciation of lease assets |  |  | 71,326 |  |  |  | 162,057 |
Interest on lease liabilities |  |  | 7,590 |  |  |  | 19,571 |
Total finance lease cost |  |  | 78,916 |  |  |  | 181,628 |
Total lease cost |  | $ | 954,370 |  |  | $ | 849,682 |
Supplemental lease information |
|  | Classification |  | June 30, 2023 |  |  | June 30, 2022 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 9,571,604 |  |  | $ | 10,420,604 |
Finance lease assets |  | Property and equipment, net(1) |  |  | 542,105 |  |  |  | 61,566 |
Total lease assets |  |  |  | $ | 10,113,709 |  |  | $ | 10,482,170 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |
Operating leases |  | Operating lease liabilities, current |  | $ | 969,890 |  |  | $ | 965,622 |
Finance leases |  | Finance lease liabilities, current |  |  | 103,646 |  |  |  | 55,348 |
Noncurrent: |  |  |  |  |  |  |  |  |  |
Operating leases |  | Operating lease liabilities, less current portion |  |  | 8,393,248 |  |  |  | 9,478,077 |
Finance leases |  | Finance lease liabilities, less current portion |  |  | 341,201 |  |  |  | 11,454 |
Total lease liabilities |  |  |  | $ | 9,807,985 |  |  | $ | 10,510,501 |
Schedule of lease term and discount rate of lease |
Lease Term and Discount Rate |  | June 30, 2023 |
Weighted Average Remaining Lease Term (in years) |
Operating leases |  |  | 9.2 |
Finance leases |  |  | 4.5 |
Weighted Average Discount Rate |  |  |  |
Operating leases |  |  | 2.9 | %
Finance leases |  |  | 6.4 | %
Supplemental cash flow information |
|  | Year Ended June 30, |
|  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash used for operating leases |  | $ | 1,020,992 |  |  | $ | 638,943 |
Operating cash used for finance leases |  | $ | 7,590 |  |  | $ | 16,070 |
Financing cash used for finance leases |  | $ | 73,003 |  |  | $ | 172,344 |
Future maturities of lease liabilities |
Fiscal year ending: |  | Finance Leases |  |  | Operating Leases |
June 30, 2024 |  | $ | 128,828 |  |  | $ | 1,025,294 |
June 30, 2025 |  |  | 117,016 |  |  |  | 1,167,096 |
June 30, 2026 |  |  | 94,701 |  |  |  | 1,140,297 |
June 30, 2027 |  |  | 85,144 |  |  |  | 1,169,757 |
June 30, 2028 |  |  | 85,144 |  |  |  | 1,200,291 |
Thereafter |  |  | — |  |  |  | 5,583,700 |
Total future minimum payments |  |  | 510,833 |  |  |  | 11,286,435 |
Less imputed interest |  |  | (65,986 | ) |  |  | (1,923,297 | )
Present value of lease liabilities |  | $ | 444,847 |  |  | $ | 9,363,138 |

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