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Commitments and Contingencies
 3 Months Ended
Sep. 30, 2024
Commitments and Contingencies [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 15 — COMMITMENTS AND CONTINGENCIES

 

Contractual Commitments

 

As of September 30, 2024, the Company’s contractual obligations consist of the following:

 

Contractual Obligations  Total   Less than
1 year		   1 – 3
years		   3 – 5
years		   More than
5 years		 
Operating lease obligations  $5,104,017   $2,149,231   $2,020,342   $934,444   $
—
 
Finance lease obligations   49,055    35,354    13,701    
—
    
—
 
Vehicle loans   141,490    57,279    65,219    18,992    
—
 
Equipment loans   76,320    48,823    27,497    
—
    
—
 
Other loans   392,320    392,320    
—
    
—
    
—
 
Total  $5,763,202   $2,683,007   $2,126,759   $953,436   $
—
 

 

Contingencies

 

The Company may be involved in certain legal proceedings, claims and disputes arising from the commercial operations, which, in general, are subject to uncertainties and in which the outcomes are not predictable. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. Although the Company can give no assurances about the resolution of pending claims, litigation or other disputes and the effect such outcomes may have on the Company, the Company believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided or covered by insurance, will not have a material adverse effect on the Company’s consolidated financial position or results of operations or liquidity as of September 30, 2024 and June 30, 2024.