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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
SUMMARY OF ESTIMATED USEFUL LIVES OF ASSETS

 

Category   Estimated Useful Life
     
Computer equipment and software   3 to 5 Years
Office furniture and equipment   5 to 10 Years
Building   20 Years
Autos   5 Years
Assets under capital leases   3 to 10 Years
Improvements   5 to 10 Years
SCHEDULE OF FAIR VALUE OF FINANCIAL ASSETS MEASURED ON RECURRING BASIS

Our financial assets that are measured at fair value on a recurring basis as of June 30, 2022 are as follows:

 

   Level 1   Level 2   Level 3   Total Assets 
Revenues in excess of billings - long term  $-   $-   $853,601   $853,601 
Total  $-   $-   $853,601   $853,601 

 

Our financial assets that are measured at fair value on a recurring basis as of June 30, 2021, are as follows:

 

   Level 1   Level 2   Level 3   Total Assets 
Revenues in excess of billings - long term  $-   $-   $957,603   $957,603 
Total  $-   $-   $957,603   $957,603 
SCHEDULE OF FAIR VALUE OF FINANCIAL INSTRUMENTS RECONCILIATION

The reconciliation for the years ended June 30, 2022 and 2021 is as follows:

 

   Revenues in excess
of billings - long term		   Fair value
discount		   Total 
Balance at June 30, 2020  $1,341,575   $(41,286)  $1,300,289 
Additions   1,023,634    (78,124)   945,510 
Amortization during the period   -    53,119    53,119 
Transfers to short term   (1,341,575)   -    (1,341,575)
Effect of Translation Adjustment   748    (488)   260 
Balance at June 30, 2021  $1,024,382   $(66,779)  $957,603 
Amortization during the period   -    38,005    38,005 
Transfers to short term   (129,352)   -    (129,352)
Effect of Translation Adjustment   (13,090)   435    (12,655)
Balance at June 30, 2022  $881,940   $(28,339)  $853,601