COMMITMENTS AND CONTINGENCIES (Tables)
|
6 Months Ended |
12 Months Ended |
Dec. 31, 2022 |
Jun. 30, 2022 |
Commitments and Contingencies Disclosure [Abstract] |
|
|
SCHEDULE OF RIGHT USE OF ASSET |
ROU
is summarized below:
SCHEDULE OF RIGHT USE OF ASSET
|
|
December
31, 2022 |
|
|
June
30, 2022 |
|
Office
lease |
|
$ |
66,201 |
|
|
$ |
66,201 |
|
Less:
accumulated amortization |
|
|
(15,530 |
) |
|
|
(3,678 |
) |
Right-of-use
asset, net |
|
$ |
50,671 |
|
|
$ |
62,523 |
|
|
ROU
is summarized below:
SCHEDULE OF RIGHT USE OF ASSET
|
|
June 30, 2022 |
|
|
June 30, 2021 |
|
Office lease |
|
$ |
66,201 |
|
|
$ |
48,662 |
|
Less: accumulated amortization |
|
|
(3,678 |
) |
|
|
(48,662 |
) |
Right-of-use asset, net |
|
$ |
62,523 |
|
|
$ |
- |
|
|
SCHEDULE OF OPERATING LEASE LIABILITY |
Operating
Lease liabilities are summarized below:
SCHEDULE OF OPERATING LEASE LIABILITY
|
|
December
31, 2022 |
|
|
June
30, 2022 |
|
Office
lease |
|
$ |
66,201 |
|
|
$ |
66,201 |
|
Reduction
of lease liability |
|
|
(14,214 |
) |
|
|
(3,277 |
) |
Less:
office lease, current portion |
|
|
(21,102 |
) |
|
|
(20,605 |
) |
Long
term portion of lease liability |
|
$ |
30,885 |
|
|
$ |
42,319 |
|
|
Operating
Lease liabilities are summarized below:
SCHEDULE OF OPERATING LEASE LIABILITY
|
|
June 30, 2022 |
|
|
June 30, 2021 |
|
Office lease |
|
$ |
66,201 |
|
|
$ |
48,662 |
|
Reduction of lease liability |
|
|
(3,277 |
) |
|
|
(48,662 |
) |
Less: office lease, current portion |
|
|
(20,605 |
) |
|
|
- |
|
Long term portion of lease liability |
|
$ |
42,319 |
|
|
$ |
- |
|
|
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS |
Remaining
future minimum lease payments under non-cancelable operating lease at December 31, 2022 are as follows:
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS
|
|
|
|
|
Fiscal
Year 2023 (remaining) |
|
$ |
12,249 |
|
Fiscal
Year 2024 |
|
|
24,498 |
|
Fiscal
Year 2025 |
|
|
20,415 |
|
Imputed
interest |
|
|
(5,175 |
) |
Total
operating lease liability |
|
$ |
51,987 |
|
|
Remaining
future minimum lease payments under non-cancelable operating lease at June 30, 2022 are as follows:
SCHEDULE
OF FUTURE MINIMUM LEASE PAYMENTS
|
|
|
|
|
Fiscal Year 2023 |
|
$ |
24,894 |
|
Fiscal Year 2024 |
|
|
24,894 |
|
Fiscal Year 2025 |
|
|
20,745 |
|
Imputed interest |
|
|
(7,609 |
) |
Total operating lease liability |
|
$ |
62,924 |
|
|