| SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES |
The
table below presents the lease-related assets and liabilities recorded on the balance sheet.
SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES
| | |
March
31, 2026 | | |
June
30, 2025 | |
| | |
| | |
| |
| Assets | |
| | | |
| | |
| Right-of-use
asset (1) | |
$ | 720,000 | | |
$ | 720,000 | |
| Right-of-use
asset (2) | |
| 162,335 | | |
| 162,092 | |
| Total RoU assets | |
| 882,335 | | |
| 882,092 | |
| Less: Accumulated amortization | |
| (475,266 | ) | |
| (363,717 | ) |
| Operating lease right
of use assets | |
$ | 407,069 | | |
$ | 518,375 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Current: | |
| | | |
| | |
| Operating lease liabilities | |
$ | 40,877 | | |
$ | 38,311 | |
| Operating lease
liabilities - Current | |
$ | 40,877 | | |
$ | 38,311 | |
| | |
| | | |
| | |
| Non-current: | |
| | | |
| | |
| Operating lease liabilities | |
| 60,658 | | |
| 91,639 | |
| Operating
lease liabilities - Non-current | |
| 60,658 | | |
| 91,639 | |
| | |
| | | |
| | |
| Total
lease liabilities | |
$ | 101,535 | | |
$ | 129,950 | |
| (1) | | The
lease of the Segama factory has total contractual lease payments of $720,000
over a seven-year
term, commencing March 2, 2022. There are no corresponding lease liabilities recorded, as
the lease payments for the entire lease period have been paid upfront upon inception of the
agreement. |
| (2) | | The
Company, through its wholly owned subsidiary VRI, has entered into various motor vehicle
lease arrangements with terms ranging from three to four years, expiring at various dates
through 2029. Certain lease arrangements include purchase options at agreed-upon prices as
specified in the respective agreements. The Company’s lease agreements do not contain
any material restrictive covenants. |
|
| SCHEDULE OF THE LEASE TERMS AND DISCOUNT RATES |
The
table below presents the information related to weighted average discount rate and the remaining lease term (years) of the operating
leases.
SCHEDULE OF THE LEASE TERMS AND DISCOUNT RATES
| | |
March
31, 2026 | | |
June
30, 2025 | |
| Operating leases | |
| | | |
| | |
| Weighted average discount rate | |
| 9.08 | % | |
| 9.00 | % |
| Weighted average remaining lease term (years) | |
| 2.35 | | |
| 3.10 | |
|
| SCHEDULE OF LEASE COSTS |
The
Company excludes short-term leases (those with lease terms of less than one year at inception) from the measurement of lease liabilities
or right-of-use assets. The following tables summarize the lease expense for the periods.
SCHEDULE OF LEASE COSTS
| | |
2026 | | |
2025 | |
| | |
Nine
months ended March
31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Finance lease cost: | |
| | | |
| | |
| Interest on lease liabilities
(per ASC 842) | |
$ | - | | |
$ | 5,368 | |
| | |
| | | |
| | |
| Operating lease cost: | |
| | | |
| | |
| Operating lease expense
(per ASC 842) | |
| 119,453 | | |
| 104,356 | |
| | |
| | | |
| | |
| Total
lease expense | |
$ | 119,453 | | |
$ | 109,724 | |
|
| SCHEDULE OF FUTURE MINIMUM OPERATING LEASE PAYMENTS |
SCHEDULE OF FUTURE MINIMUM OPERATING LEASE PAYMENTS
| Years ending March 31, | |
Operating lease amount | |
| 2026 | |
$ | 48,442 | |
| 2027 | |
| 43,072 | |
| 2028 | |
| 22,487 | |
| | |
| | |
| Total minimum lease liabilities payment | |
| 114,001 | |
| Less: imputed interest | |
| (12,466 | ) |
| Present value of lease liabilities | |
$ | 101,535 | |
| | |
| | |
| Representing: | |
| | |
| Current liabilities | |
$ | 40,877 | |
| Non-current liabilities | |
| 60,658 | |
| Present value of lease liabilities | |
$ | 101,535 | |
|