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Leases
9 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases

Note 17 – Leases 

 

The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option which result in an economic penalty. The Company’s office lease was classified as operating leases. On March 31, 2025, the Company’s office lease was expired, and no extension was executed. The lease generally do not contain options to extend at the time of expiration.

 

Lease expense for the three months ended March 31, 2025 and 2024 were $0, and $10,795, respectively. Lease expense for the nine months ended March 31, 2025 and 2024 were $18,550, and $20,332, respectively.