LEASES

6 Months Ended

Mar. 31, 2023

Disclosure Text Block [Abstract]

Lessee, Finance Leases [Text Block]

NOTE 5 – LEASES

At March 31, 2023, September 30, 2022, and March 31, 2022, finance lease obligations consisted of the following:

		March 31, 2023		September 30, 2022		March 31, 2022
A 2016 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,257, including interest at 4.532% per annum, through December 2024.	$	26,489	$	2,837	$	9,681
A 2018 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,154, including interest at 4.644% per annum, through August 2024.		17,938		24,358		30,633
A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,162, including interest at 4.181% per annum, through March 2025.		26,012		32,364		38,585
A 2019 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,151, including interest at 4.101% per annum, through December 2025.		33,327		39,482		45,512
A 2020 Hino truck leased from Donahue Transportation Services Corp, payable in monthly installments of $1,166, including interest at 5.406% per annum, through May 2027.		52,095		57,597		62,951
		155,861		156,638		187,362
Less current portion		(64,732)		(52,256)		(57,989)
Total finance lease obligations	$	91,129	$	104,382	$	129,373

At March 31, 2023, future minimum payments on finance lease obligations were as follows:

For the Twelve Months Ending March 31,
2024	$	70,696
2025		58,256
2026		21,494
2027		13,992
2028		2,331
Thereafter		-
Present value of future minimum payments		166,769
Less amount representing interest		(10,908)
		155,861
Less current portion of finance lease obligations		(64,732)
Total finance lease obligations, net of current portion	$	91,129

The following presents supplemental lease information:

	Six months Ended March 31, 2023		Six months Ended March 31, 2022		Three months Ended March 31, 2023		Three months Ended March 31, 2022
Finance lease cost:
Amortization of ROU assets	$	28,928	$	31,839	$	14,464	$	15,920
Interest on lease liabilities		2,428		3,795		1,264		1,897
Short-term Lease expense		26,934		25,150		13,659		12,585
Total finance lease cost	$	58,290	$	60,784	$	29,387	$	30,402

	Six months Ended March 31, 2023		Six months Ended March 31, 2022		Three months Ended March 31, 2023		Three months Ended March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for interest portion of finance leases	$	8,011	$	5,521	$	4,467	$	3,050
Financing cash flows paid for principal portion of finance leases		29,531		30,033		14,640		15,102

	March 31, 2023	September 30, 2022	March 31, 2022
Weighted average remaining lease term    Finance leases	2.77 years	3.16 years	4.54 years
Weighted average discount rate    Finance leases	4.69%	4.69%	4.67%