Quarterly report pursuant to Section 13 or 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

v3.24.1.1.u2
COMMITMENTS AND CONTINGENCIES (Tables)
 9 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
SCHEDULE OF FINANCE LEASES

The Company’s leased properties as of March 31, 2024 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 March 31, 2024 are as follows:

 

    Operating
Leases		    

Finance

Leases

  
Year Ending June 30,                
2024 (remaining three months)   $ 215,000     $ 43,000  
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     2,505,000       337,000  
                 
Less: discount     (282,000 )     (31,000 )
Total lease liability   $ 2,223,000     $ 306,000