LEASES (Tables)
|
12 Months Ended |
Jun. 30, 2026 |
|---|
| LEASES [Abstract] |
|
| Balance Sheet Classification |
Right-of-use assets and lease liabilities by lease type, and the associated balance sheet classifications, are as follows:
|
|
Balance Sheet Classification
|
|
June 30, 2026
|
|
|
June 30, 2025
|
|
|
Right-of-use assets:
|
|
|
|
|
|
|
|
|
Finance leases
|
Real estate assets, net |
|
$
|
1,138,697 |
|
|
$
|
1,587,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease liabilities:
|
|
|
|
|
|
|
|
|
|
|
Finance leases
|
Finance lease liabilities
|
|
$
|
1,672,528 |
|
|
$
|
1,898,005 |
|
We have included these leases in real estate assets, net as follows:
| |
|
June 30 2026
|
|
|
June 30, 2025
|
|
|
Building, fixtures and improvements
|
|
$
|
2,165,738 |
|
|
$
|
2,165,738 |
|
|
Accumulated depreciation
|
|
|
(1,027,041 |
)
|
|
|
(577,913 |
)
|
|
Real estate assets, net
|
|
$
|
1,138,697 |
|
|
$
|
1,587,825 |
|
|
| Components of Total Lease Cost |
The components of total lease cost were as follows for the years ended June 30, 2026 and 2025:
|
|
|
Year Ended June 30,
|
|
|
|
|
2026
|
|
|
2025
|
|
|
Finance lease cost
|
|
|
|
|
|
|
|
Right-of-use asset amortization
|
|
$
|
467,778 |
|
|
$
|
495,079 |
|
|
Interest expense
|
|
|
104,942 |
|
|
|
114,723 |
|
|
Total lease cost
|
|
$
|
572,720 |
|
|
$
|
609,802 |
|
|
| Future Undiscounted Lease Payments for Finance Leases |
Future undiscounted lease payments for finance leases with initial terms of one year or more are as follows:
|
Fiscal Year Ending June 30, :
|
|
Finance Leases
|
|
|
2027
|
|
$
|
320,919 |
|
|
2028
|
|
|
328,691 |
|
|
2029
|
|
|
489,729 |
|
|
2030
|
|
|
428,598 |
|
|
2031
|
|
|
89,831 |
|
|
Thereafter
|
|
|
257,640 |
|
|
Total undiscounted lease payments
|
|
|
1,915,408 |
|
|
Less: Imputed interest
|
|
|
(242,880 |
)
|
|
Net lease liabilities
|
|
$
|
1,672,528 |
|
|
| Supplemental Finance Lease Information |
Supplemental Lease Information
| | | June 30, 2026 | | | June 30, 2025 | | | Finance lease weighted average remaining lease term (years) | | 4.32 years | | | 5.32 years | | | Finance lease weighted average discount rate | | | 5.0 | % | | | 5.0 | % | | | | | | | | | | | Cash paid for amounts included in the measurement of lease liabilities Financing cash flows from finance leases | | $ | 274,028 | | | $ | 234,109 | | | | | | | | | | | | | Right-of-use assets obtained in exchange for new finance lease liabilities | | $ | - | | | $ | 600,000 | |
|