Investment Securities (Tables)

9 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities

Investment securities at March 31, 2022 consists of certificates of deposit and municipal bonds and at June 30, 2021 consisted of certificates of deposit. The Company classifies investment securities as available-for-sale which have been determined to be level 1 assets. The cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale securities by major security type at March 31, 2022 and June 30, 2021 are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
March 31, 2022
Certificates of deposit	$	3,139,000	$	—	$	—		$	3,139,000
Municipal bonds	$	72,225	$	—	$	(1,928	)	$	70,297
Total investment securities	$	3,211,225	$	—	$	(1,928	)	$	3,209,297
June 30, 2021
Certificates of deposit	$	3,092,000	$	—	$	—		$	3,092,000

Schedule of Contractual Maturities

As of March 31, 2022 and June 30, 2021, the remaining contractual maturities of available-for-sale securities were as follows:

	Years to Maturity
	Less than		One to
	One Year		Five Years		Total
March 31, 2022
Available-for-sale	$	3,209,297	$	—	$	3,209,297
June 30, 2021
Available-for-sale	$	3,092,000	$	—	$	3,092,000