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NOTE 7 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Tables)
12 Months Ended
Jun. 30, 2020
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, 2020:

 

Minimum Lease Payments Under Operating Leases

 

 

 

Office

 

Year ending June 30,

 

 

 

2021

$

         12,710

 

2022

 

         12,938

 

2023

 

         13,171

 

2024

 

         13,408

 

Thereafter

 

         27,547

 

 

 

 

 

Total Operating Lease Obligations

$

         79,774

 

 

 

 

 

Less: Amount representing imputed interest

$

         (4,741)

 

Present Value of minimum lease payments

$

         75,033

 

 

 

 

 

Weighted average discount rate

 

2%

 

Weighted average remaining term

 

6.00

years