Leases - Lessee

3 Months Ended

Dec. 31, 2023

Disclosure Text Block [Abstract]

Lessee, Finance Leases [Text Block]

Note 5:   Leases – Lessee

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

	December 31, 2023		September 30, 2023		December 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.	$	15,917	$	19,483	$	28,754
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.		8,023		11,366		21,167
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.		16,232		19,525		29,205
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.		23,856		27,044		36,420
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.		43,561		46,445		54,864
Total finance lease liabilities	$	107,589	$	123,863	$	170,410
Current portion of long-term lease liabilities		(61,233)		(63,978)		(62,821)
Total finance lease obligations, net of current portion	$	46,356	$	59,885	$	107,589

The following table is a summary of the components of the net lease cost for the years ended December 31, 2023 and 2022, respectively.

	Three months		Three months
	Ended		Ended
	December 31, 2023		December 31, 2022
Finance lease cost:
Amortization of ROU assets	$	11,745	$	14,464
Interest on lease liabilities		1,264		1,264
Total finance lease cost	$	13,009	$	15,728

Supplemental balance sheet information related to leases December 31, 2023 and 2022 are as follows.

	December 31		September 30		December 31
	2023		2023		2022
Finance leases:
Property and equipment, gross	$	434,573	$	434,573	$	434,573
Accumulated amortization		(397,016)		(385,311)		(345,535)
Property and equipment, net	$	37,557	$	49,262	$	89,038
Weighted average remaining lease term
Finance leases		1.63 years		1.87 years		2.64 years
Weighted average discount rate
Finance leases		4.75%		4.72%		4.68%

The following table summarizes the maturity of the lease liabilities at December 31, 2023.

For the Twelve Months Ending December 31,	Finance Lease
2024	$	64,997
2025		28,930
2026		13,992
2027		5,830
2028		-
Thereafter		-
Present value of future minimum payments		113,749
Less amount representing interest		(6,160)
	$	107,589