XML 48 R36.htm IDEA: XBRL DOCUMENT v3.23.3
LEASES (Tables)
 12 Months Ended
Jun. 30, 2023
Leases  
SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASE

Supplemental balance sheet information related to leases was as follows:

 

   As of   As of 
   June 30, 2023   June 30, 2022 
Assets          
Operating lease assets, net  $1,151,575   $969,163 
           
Liabilities          
Current          
Operating  $505,237   $548,678 
Non-current          
Operating   652,194    447,260 
Total Lease Liabilities  $1,157,431   $995,938 
SCHEDULE OF COMPONENTS OF LEASE COST

The components of lease cost were as follows:

 

 

   2023   2022 
   For the Years 
   Ended June 30, 
   2023   2022 
         
Amortization of finance lease assets  $10,904   $72,340 
Interest on finance lease obligation   4,966    22,010 
Operating lease cost   446,627    652,911 
Short term lease cost   184,526    258,227 
Sub lease income   (31,998)   (35,356)
Total lease cost  $615,025   $970,132 
SCHEDULE OF LEASE TERM AND DISCOUNT RATE

Lease term and discount rate were as follows:

 

   As of   As of 
   June 30, 2023   June 30, 2022 
         
Weighted average remaining lease term - Operating leases   3.09 Years    3.34 Years 
           
Weighted average discount rate - Operating leases   4.0%   4.2%
SCHEDULE OF SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION RELATED TO LEASES

Supplemental disclosures of cash flow information related to leases were as follows:

 

   2023   2022 
   For the Years 
   Ended June 30 
   2023   2022 
         
Operating cash flows related to operating leases  $457,592   $893,196 
           
Operating cash flows related to finance leases  $5,075   $3,577 
           
Financing cash flows related finance leases  $32,536   $55,476 
SCHEDULE OF MATURITIES OF OPERATING LEASE LIABILITIES

Maturities of operating lease liabilities were as follows as of June 30, 2023:

 

   Amount 
Within year 1  $543,355 
Within year 2   432,322 
Within year 3   178,422 
Within year 4   63,477 
Within year 5   460 
Thereafter   460 
Total Lease Payments   1,218,496 
Less: Imputed interest   (61,065)
Present Value of lease liabilities   1,157,431 
Less: Current portion   (505,237)
Non-Current portion  $652,194