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NOTE 7 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Tables)
12 Months Ended
Jun. 30, 2021
Tables/Schedules  
Minimum Lease Payments Under Operating Leases

The following table reconciles future minimum operating lease payments to the discounted lease liability as of June 30, 2021:

Minimum Lease Payments Under Operating Leases

 

 

Office

 

Year ending June 30,

 

 

 

2022

 

          13,633

 

2023

 

          13,878

 

2024

 

          14,128

 

Thereafter

 

          29,026

 

 

 

 

 

Total Operating Lease Obligations

$

          70,665

 

 

 

 

 

Less: Amount representing imputed interest

$

           (3,522)

 

Present Value of minimum lease payments

$

          67,143

 

 

 

 

 

Weighted average discount rate

 

2%

 

Weighted average remaining term

 

5.00

years