Investment Securities (Tables)

3 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities

Investment securities at September 30, 2022 consists of certificates of deposit, municipal bonds and U.S. treasury bills and at June 30, 2022 consisted of certificates of deposit and municipal bonds. The Company classifies investment securities as available-for-sale which have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by major security type at September 30, 2022 and June 30, 2022 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
September 30, 2022
Certificates of deposit	$	5,050,000	$	—	$	—		$	5,050,000
Municipal bonds	$	72,225	$	—	$	(4,385	)	$	67,840
U.S. Treasury Bills	$	296,440	$	—	$	(105	)	$	296,335
Total investment securities	$	5,418,665	$	—	$	(4,490	)	$	5,414,175

June 30, 2022
Certificates of deposit	$	3,639,000	$	—	$	—		$	3,639,000
Municipal bonds	$	72,225	$	—	$	(2,446	)	$	69,779
Total investment securities	$	3,711,225	$	—	$	(2,446	)	$	3,708,779

Schedule of Contractual Maturities

As of September 30, 2022 and June 30, 2022, the remaining contractual maturities of available-for-sale debt securities were as follows:

	Years to Maturity
	Less than		One to
	One Year		Five Years		Total
September 30, 2022
Available-for-sale	$	4,626,334	$	787,841	$	5,414,175

June 30, 2022
Available-for-sale	$	3,639,000	$	69,779	$	3,708,779