BANK FINANCING ACTIVITIES (Tables)

6 Months Ended

Dec. 31, 2021

Bank Financing Activities

Schedule of long-term debt

	Amount
Term Loan Note payable to Main Street Bank with monthly principal payments of $30,952.38 plus interest at the prime lending rate plus 1.5% per annum. Secured by all assets of the Company, and subject to certain periodic reporting to the bank, an annual minimum debt service coverage ratio of 1.20:1, and other conditions. The Term Loan Note matures on October 15, 2028.	$	2,538,095
Less current maturities		(367,714	)
Less debt issuance costs, net of accumulated amortization of $3,404		(25,381	)
Long-term debt, net of current portion of debt issuance costs	$	2,145,000

Schedule of future minimum note payable

Fiscal Year Ending June 30:
2021	$	185,714
2022		371,429
2023		371,429
2024		371,429
2025		371,429
Thereafter		866,665
	$	2,538,095