LEASES (Tables)

3 Months Ended

Sep. 30, 2024

LEASES [Abstract]

Balance Sheet Classification

Right-of-use assets and lease liabilities by lease type, and the associated balance sheet classifications, are as follows:

	Balance Sheet Classification	September 30, 2024		June 30, 2024
Right-of-use assets:
Finance leases	Real estate assets, net	$	2,283,692	$	1,799,962
Lease liabilities:
Finance leases	Finance lease liabilities	$	2,431,963	$	1,887,984

We have included these leases in real estate assets, net as follows:

	September 30, 2024			June 30, 2024
Building, fixtures and improvements	$	2,622,675		$	2,022,675
Accumulated depreciation		(338,983	)		(222,713	)
Real estate assets, net	$	2,283,692		$	1,799,962

Components of Total Lease Cost

The components of total lease cost were as follows for the three months ended September 30, 2024 and 2023:

	September 30, 2024		September 30, 2023
Finance lease cost
Right-of-use asset amortization	$	116,270	$	20,493
Interest expense		24,967		7,083
Total lease cost	$	141,237	$	27,576

Future Undiscounted Lease Payments for Finance Leases

Future undiscounted lease payments for finance leases with initial terms of one year or more are as follows:

Fiscal Year Ending June 30, :	Finance Leases
2025 (remainder)	$	267,706
2026		378,742
2027		388,783
2028		399,268
2029		563,133
Thereafter		811,288
Total undiscounted lease payments		2,808,920
Less: Imputed interest		(376,957	)
Net lease liabilities	$	2,431,963

Supplemental Finance Lease Information

Supplemental Lease Information

	September 30, 2024		June 30, 2024
Finance lease weighted average remaining lease term (years)	6.07 years			5.83 years
Finance lease weighted average discount rate		5.0%		5.0%
Cash paid for amounts included in the measurement of lease liabilities
Financing cash flows from finance leases	$	56,021	$	104,416
Right-of-use assets obtained in exchange for new finance lease liabilities	$	600,000	$	1,363,980