| 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 | |
|