LEASES (Tables)
|
12 Months Ended |
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.
SCHEDULE OF LEASE RELATED ASSETS AND LIABILITIES
| | |
2026 | | |
2025 | |
| | |
As
of June 30, | |
| | |
2026 | | |
2025 | |
| Assets | |
| | | |
| | |
| Right-of-use
asset (1) | |
$ | 720,000 | | |
$ | 720,000 | |
| Right-of-use
assets (2) | |
| 168,677 | | |
| 162,092 | |
| Total RoU assets | |
$ | 888,677 | | |
$ | 882,092 | |
| Less: Accumulated amortization | |
| (513,252 | ) | |
| (363,717 | ) |
| Operating lease right
of use assets | |
$ | 375,425 | | |
| 518,375 | |
| | |
| | | |
| | |
| Liabilities | |
| | | |
| | |
| Current: | |
| | | |
| | |
| Operating lease liabilities | |
$ | 44,224 | | |
$ | 38,311 | |
| Operating lease
liabilities - Current | |
$ | 44,224 | | |
$ | 38,311 | |
| | |
| | | |
| | |
| Non-current: | |
| | | |
| | |
| Operating lease liabilities | |
$ | 52,505 | | |
$ | 91,639 | |
| Operating
lease liabilities - Non-current | |
$ | 52,505 | | |
$ | 91,639 | |
| | |
| | | |
| | |
| Total
lease liabilities | |
$ | 96,729 | | |
$ | 129,950 | |
|
(1) |
The lease of the Segama factory
has total contractual lease payments of $720,000 over a 7seven-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 Verde Renewables, has entered into various motor vehicle lease arrangements with terms ranging from 3three 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
| | |
As
of June 30, | |
| | |
2026 | | |
2025 | |
| Operating leases | |
| | | |
| | |
| Weighted average discount rate | |
| 11.27 | % | |
| 9.00 | % |
| Weighted average remaining
lease term (years) | |
| 2.08 | | |
| 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 years.
SCHEDULE OF LEASE COSTS
| | |
2026 | | |
2025 | |
| | |
Years
ended June 30, | |
| | |
2026 | | |
2025 | |
| Finance lease cost: | |
| | | |
| | |
| Interest on lease liabilities
(per ASC 842) | |
$ | - | | |
$ | 5,368 | |
| | |
| | | |
| | |
| Operating lease cost: | |
| | | |
| | |
| Operating lease expense (per ASC 842) | |
| 160,222 | | |
| 145,705 | |
| | |
| | | |
| | |
| Total
lease expense | |
$ | 160,222 | | |
$ | 151,073 | |
|
| SCHEDULE OF FUTURE MINIMUM OPERATING LEASE PAYMENTS |
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:
SCHEDULE OF FUTURE MINIMUM OPERATING LEASE PAYMENTS
| Years
ending June 30, | |
Operating
lease amount | |
| 2027 | |
| 52,580 | |
| 2028 | |
| 40,814 | |
| Thereafter | |
| 15,741 | |
| Total minimum lease liabilities payment | |
| 109,135 | |
| Less: imputed interest | |
| (12,406 | ) |
| | |
| | |
| Present
value of lease liabilities | |
$ | 96,729 | |
|
| SCHEDULE OF FUTURE RENTAL PAYMENTS |
SCHEDULE OF FUTURE RENTAL PAYMENTS
| Years
ending June 30, | |
Annual
rental payable | |
| 2027 | |
| 116,924 | |
| 2028 | |
| 202,779 | |
| 2029 | |
| 206,834 | |
| 2030 | |
| 210,971 | |
| 2031 | |
| 215,191 | |
| Thereafter | |
| 90,401 | |
| Total future rental payments | |
$ | 1,043,100 | |
|