Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

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COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF FINANCE LEASES

The Company’s leased properties as of December 31, 2023 are as follows:

 

Lease Date   Property Leased   Lease Term (months)   Commencement Date   Monthly Lease Payment(1)  
                   
9/2/2022   Vehicle   60   9/10/2022   $ 1,100  
10/17/2022   Manufacturing equipment   36   10/17/2022   $ 5,500  
1/24/2023   Manufacturing equipment   36   1/24/2023   $ 6,700  
3/2/2023   Manufacturing equipment   36   3/2/2023   $ 1,000  

 

(1) Excludes sales tax and other fees.
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS

The Future Minimum Lease Payments as of December 31, 2023 are as follows:

 

    Operating
Leases		    

Finance

Leases

  
Year Ending June 30,            
2024 (remaining six months)   $ 430,000     $ 86,000  
2025     883,000       173,000  
2026     910,000       85,000  
2027     433,000       15,000  
2028     64,000       21,000  
Total Future Minimum Lease Payments     2,720,000       380,000  
                 
Less: discount     (333,000 )     (39,000 )
Total lease liability   $ 2,387,000     $ 341,000