COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Dec. 31, 2020

COMMITMENTS AND CONTINGENCIES [Abstract]

Balance Sheet Classifications of Leases

As of December 31, 2020, the Company’s balance sheet classifications of its leases are as follows:

Operating Leases:
Noncurrent operating lease ROU assets	$	366,083
Current operating lease liabilities	$	527,761
Noncurrent operating lease liabilities		-
Total operating lease liabilities	$	527,761

Remaining Future Payments Under Operating Leases

As of December 31, 2020, the Company’s remaining future payments under operating leases for each fiscal year ending June 30 are as follows:

2021	$	322,234
2022		219,723
Total lease payments		541,957
Less: imputed interest		(14,196	)
Present value of lease payments		527,761
Less: current lease obligations		527,761
Total long-term lease obligations	$	-