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NOTE 3 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Tables)
3 Months Ended
Sep. 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 September 30, 2021:

 

Minimum Lease Payments Under Operating Leases

 

 

Office

 

Automotive

 

Total

Year ending June 30,

 

 

 

 

 

 

2022

 

10,015

 

3,526

 

13,541

2023

 

13,554

 

4,701

 

18,255

2024

 

13,798

 

4,701

 

18,499

Thereafter

 

28,345

 

392

 

28,737

 

 

 

 

 

 

 

Total Operating Lease Obligations

$

65,712

 

13,320

$

79,032

 

 

 

 

 

 

 

Less: Amount representing imputed interest

$

(3,117)

 

(381)

$

(3,498)

Present Value of minimum lease payments

$

62,595

 

12,939

$

75,534

 

 

                 

 

                 

 

                 

Weighted average discount rate

 

2%

 

 

 

 

Weighted average remaining term

 

4.42

years