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Leases (Tables) | 12 Months Ended
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Jun. 30, 2024
Leases |
Lease costs |
|  | Year Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 947,154 |  |  | $ | 875,454 |
Finance lease cost: |  |  |  |  |  |  |  |
Depreciation of lease assets |  |  | 95,546 |  |  |  | 71,326 |
Interest on lease liabilities |  |  | 39,972 |  |  |  | 7,590 |
Total finance lease cost |  |  | 135,518 |  |  |  | 78,916 |
Total lease cost |  | $ | 1,082,672 |  |  | $ | 954,370 |
Supplemental lease information |
Classification |  | June 30, 2024 |  |  | June 30, 2023 |
Operating lease assets |  | $ | 6,741,549 |  |  | $ | 9,571,604 |
Property and equipment, net(1) |  |  | 1,063,768 |  |  |  | 542,105 |
|  | $ | 7,805,317 |  |  | $ | 10,113,709 |
Operating lease liabilities, current |  | $ | 1,059,998 |  |  | $ | 969,890 |
Finance lease liabilities, current |  |  | 177,148 |  |  |  | 103,646 |
Operating lease liabilities, less current portion |  |  | 8,058,502 |  |  |  | 8,393,248 |
Finance lease liabilities, less current portion |  |  | 528,753 |  |  |  | 341,201 |
|  | $ | 9,824,401 |  |  | $ | 9,807,985 |
Schedule of lease term and discount rate of lease |
Lease Term and Discount Rate |  | June 30, 2024
Weighted Average Remaining Lease Term (in years) |  |
Operating leases |  | 9.4
Finance leases |  | 4.0
Weighted Average Discount Rate |  |
Operating leases |  | 2.9%
Finance leases |  | 8.1%
Supplemental cash flow information |
|  | Year Ended June 30, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash used for operating leases |  | $ | 932,122 |  |  | $ | 1,020,992 |
Operating cash used for finance leases |  | $ | 39,972 |  |  | $ | 7,590 |
Financing cash used for finance leases |  | $ | 131,901 |  |  | $ | 73,003 |
Future maturities of lease liabilities |
Fiscal year ending: |  | Finance Leases |  |  | Operating Leases |
June 30, 2025 |  | $ | 228,515 |  |  | $ | 1,158,942 |
June 30, 2026 |  |  | 206,200 |  |  |  | 1,130,756 |
June 30, 2027 |  |  | 179,552 |  |  |  | 1,137,989 |
June 30, 2028 |  |  | 161,011 |  |  |  | 1,156,405 |
June 30, 2029 |  |  | 57,642 |  |  |  | 1,186,646 |
Thereafter |  |  | - |  |  |  | 5,569,120 |
Total future minimum payments |  |  | 832,920 |  |  |  | 11,339,858 |
Less imputed interest |  |  | (127,019 | ) |  |  | (2,221,358 | )
Present value of lease liabilities |  | $ | 705,901 |  |  | $ | 9,118,500 |

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