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SUBSEQUENT EVENTS | 12 Months Ended
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Jun. 30, 2023
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 18 – SUBSEQUENT EVENTS The Company evaluates events that have occurred after the balance sheet date, but before the consolidated financial statements are issued. On July 31, 2023, the Company entered into a software license agreement for a term of 3 years at a cost of $1,260,000. The effective date of the agreement is October 1, 2023. During August 2023 the Company amended their revolving credit agreement. The agreement was extended to November 15, 2023. The interest rate on borrowings remains at 8.5% along with certain financial covenants. As of August 31, 2023, the Company repurchased 27,844 shares at a cost of $469,372 which was authorized under the stock repurchase plan adopted in September 2022.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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