v3.25.2
Leases (Tables)
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Assets and Liabilities, Lessee
The following table presents the classification and location of the Group’s leases on the consolidated balance sheets:
June 30,
20252024
Right-of-use assets:
Operating lease right-of-use assets
$1,549,332 $962,052 
Finance lease right-of-use asset
16,543,737 20,697,452 
18,093,069 21,659,504 
Lease liabilities:
Current portion of operating lease obligations
391,157 397,999 
Non-current portion of operating lease obligations
1,175,149 587,250 
Current portion of finance lease obligation
15,306,802 12,767,400 
Non-current portion of finance lease obligation
9,523,433 14,141,713 
$26,396,541 $27,894,362 
The following table presents supplemental information for the Group’s non-cancellable leases for the years ended June 30, 2025 and 2024:
For the years ended
June 30,
20252024
Operating leases:
Weighted-average remaining lease term 3.82.7
Weighted-average incremental borrowing rate10.49 %% 10.46 %
Finance lease:
Weighted-average remaining lease term1.82.1
Weighted-average incremental borrowing rate12.76 %% 13.45 %
Lease, Cost
The following table presents the components of the lease costs as of June 30, 2025 and 2024:
For the years
ended June 30,
20252024
Operating leases:
Operating lease cost charged to profit and loss
$521,640 $497,734 
Finance lease:
Interest on lease liability3,019,718 3,132,380 
Depreciation on right-of-use asset9,613,425 11,406,679 
Total finance lease cost12,633,143 14,539,059 
Less: Lease cost capitalized to unproved properties(12,633,143)(14,539,059)
Finance lease cost charged to profit and loss$— $— 
The following table presents the cash flow information related to lease payments for the years ended June 30, 2025 and 2024:
For the years ended
June 30,
20252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases
$521,640 $497,734 
Financing cash flows for finance leases
7,765,972 5,470,379 
$8,287,612 $5,968,113 
Lessee, Operating Lease, Liability, to be Paid, Maturity
As of June 30, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows:
As of June 30, 2025Operating leasesFinance leases
Fiscal year ending June 30, 2026$536,865 $16,109,152 
Fiscal year ending June 30, 2027555,859 11,297,000 
Fiscal year ending June 30, 2028338,850 — 
Thereafter
474,665 — 
Total lease payments
1,906,239 27,406,152 
Less: Imputed interest
(339,933)(2,575,917)
Present value of lease liabilities1
$1,566,306 $24,830,235 
1 Includes both current and long-term portion of the lease liabilities.
Finance Lease, Liability, to be Paid, Maturity
As of June 30, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as follows:
As of June 30, 2025Operating leasesFinance leases
Fiscal year ending June 30, 2026$536,865 $16,109,152 
Fiscal year ending June 30, 2027555,859 11,297,000 
Fiscal year ending June 30, 2028338,850 — 
Thereafter
474,665 — 
Total lease payments
1,906,239 27,406,152 
Less: Imputed interest
(339,933)(2,575,917)
Present value of lease liabilities1
$1,566,306 $24,830,235 
1 Includes both current and long-term portion of the lease liabilities.