v3.22.2.2
NOTE 7 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Tables)
12 Months Ended
Jun. 30, 2022
Tables/Schedules  
Minimum Lease Payments Under Operating Leases

The following table reconciles future minimum operating lease payments to the discounted lease liability as of June 30, 2022:

 

Minimum Lease Payments Under Operating Leases

 

 

Office

 

Automotive

 

Total

Year ending June 30,

 

 

 

 

 

 

2023

 

             12,279

 

         4,258

 

   16,537

2024

 

             12,500

 

         4,258

 

   16,758

2025

 

             12,725

 

           355

 

   13,080

Thereafter

 

             12,953

 

              -   

 

   12,953

 

 

 

 

 

 

 

Total Operating Lease Obligations

$

             50,457

 

         8,871

$

   59,328

 

 

 

 

 

 

 

Less: Amount representing imputed interest

$

              (2,028)

 

          (189)

$

    (2,217)

Present Value of minimum lease payments

$

             48,429

 

         8,682

$

   57,111

 

 

 

 

 

 

 

Weighted average discount rate

 

2%

 

 

 

 

Weighted average remaining term

 

3.71

years