| SCHEDULE OF FINANCE LEASES |
|
The
Company has finance leases outstanding as of June 30, 2025 as follows:
SCHEDULE OF FINANCE LEASES
| 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 |
Future
Minimum Lease Payments as of March 31, 2026 are as follows:
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS
| |
|
Operating
Leases |
|
|
Finance
Leases |
|
| Fiscal years ending June 30, |
|
|
|
|
|
|
|
|
| 2026 (remaining three months) |
|
$ |
228,000 |
|
|
$ |
40,000 |
|
| 2027 |
|
|
433,000 |
|
|
|
54,000 |
|
| 2028 |
|
|
64,000 |
|
|
|
21,000 |
|
| Total future minimum lease payments |
|
|
725,000 |
|
|
|
115,000 |
|
| Less: discount |
|
|
(21,000 |
) |
|
|
(6,000 |
) |
| Total lease liability |
|
|
704,000 |
|
|
|
109,000 |
|
| Less: leases payable, current portion |
|
|
(621,000 |
) |
|
|
(87,000 |
) |
| Leases payable, noncurrent portion |
|
$ |
83,000 |
|
|
$ |
22,000 |
|
|
Future
minimum lease payments as of June 30, 2025 are as follows:
SCHEDULE
OF FUTURE MINIMUM LEASE PAYMENTS
| |
|
Operating Leases |
|
|
Finance Leases |
|
| Years ending June 30, |
|
|
|
|
|
|
|
|
| 2026 remainder |
|
$ |
- |
|
|
$ |
- |
|
| 2026 |
|
$ |
910,000 |
|
|
$ |
85,000 |
|
| 2027 |
|
|
433,000 |
|
|
|
15,000 |
|
| 2028 |
|
|
64,000 |
|
|
|
20,000 |
|
| Total future minimum lease payments |
|
|
1,407,000 |
|
|
|
120,000 |
|
| Less: discount |
|
|
(86,000 |
) |
|
|
(8,000 |
) |
| Total lease liability |
|
|
1,321,000 |
|
|
|
112,000 |
|
| Less: leases payable, current portion |
|
|
(815,000 |
) |
|
|
(80,000 |
) |
| Leases payable, noncurrent portion |
|
$ |
506,000 |
|
|
$ |
32,000 |
|
|