v3.26.1
LEASES (Tables)
 9 Months Ended 12 Months Ended
Mar. 31, 2026
Jun. 30, 2026
Leases    
SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

 

  

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 
           
Non-current:          
Operating lease liabilities   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.

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

 

   2025   2024 
   As of June 30, 
   2025   2024 
         
Assets          
Right-of-use asset (1)  $720,000   $720,000 
Right-of-use assets (2)   162,092    64,910 
Total RoU assets  $882,092   $784,910 
Less: Accumulated amortization   (363,717)   (275,428)
Operating lease right of use assets   $518,375    509,482 
           
Liabilities          
Current:          
Operating lease liabilities  $38,311   $24,881 
Finance lease liabilities   -    22,323 
Total lease liabilities current    38,311    47,204 
           
Finance lease liabilities – assets held for sale  $-   $603,252 
Total Current Lease Liabilities  $38,311    650,456 
           
Non-current:          
Operating lease liabilities  $91,639   $4,602 
Finance lease liabilities   -    86,565 
Total Non-current Lease Liabilities   91,639    91,167 
           
Total lease liabilities  $129,950   $741,623 
(1)This leasing arrangement for the lease of the Segama factory amounting to $720,000 is for a lease term of seven (7) years and included an exclusive right and option to purchase the factory site, together with all its right title and interest, for a consideration to be mutually agreed between the parties at any time during the period of two years from the date of the Lease Agreement ended March 1, 2024. The option was not exercised and has lapsed.

 

There are no corresponding lease liabilities recorded as the lease payments for the entire lease period has been paid upfront upon inception of the agreement.

 

(2)The Company through its wholly owned subsidiary VRI entered into various lease arrangements for the use of motor vehicles for lease term of three (3) to four (4) years which expire at various dates through 2029. Certain of the lease arrangements contain option to purchase at an agreed consideration as stated in the respective lease agreement. 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.

 

 

  

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 

The table below presents the information related to weighted average discount rate and the remaining lease term (years) of the operating leases.

 

   As of June 30, 
   2025   2024 
Operating leases          
Weighted average discount rate   9.00%   18.20%
Weighted average remaining lease term (years)   3.10    1.17 
Finance leases          
Weighted average discount rate   NA     6.73%
Weighted average remaining lease term (years)   NA     3.66 
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.

 

 

       
  

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 

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 years.

 

   2025   2024 
   Years ended June 30, 
   2025   2024 
         
Finance lease cost:          
Interest on lease liabilities (per ASC 842)  $5,368   $45,926 
           
Operating lease cost:          
Operating lease expense (per ASC 842)   145,705    131,096 
           
Total lease expense  $151,073   $177,022 
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 

The table below summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the next three years and thereafter ending June 30:

 

Years ending June 30, 

Operating

and finance

lease

amount

 
     
2026   48,435 
2027   48,435 
2028   37,710 
Thereafter   15,741 
Total minimum lease liabilities payment   150,321 
Less: imputed interest   (20,371)
      
Present value of lease liabilities  $129,950