Equipment Financing (Tables)

3 Months Ended

Oct. 31, 2023

Equipment Financing [Abstract]

Schedule of Amounts Recognized In Equipment Financing

Amounts recognized as of July 31, 2023 and October 31, 2023 for equipment financing are as follows:

ROU Asset	July 31, 2023	$	577,566
Amortization		$	(36,016	)
Addition - Asset		$	558,463
ROU Asset	October 31, 2023	$	1,100,013
Equipment Financing	July 31, 2023	$	581,505
Amortization		$	(164,312	)
Addition - Equipment Financing		$	558,463
Equipment Financing	October 31, 2023	$	975,656
Equipment Financing	Short term	$	244,506
Equipment Financing	Long term	$	731,150
Equipment Financing	Total:	$	975,656

Schedule of Amounts Recognized In Equipment Financing

The future payments under the equipment financing agreements are as follows:

Year	Amount
2024	$	314,597
2025		380,832
2026		328,462
2027		12,637
2028		1,141
Total future payments:	$	1,037,669
Less: amounts representing interest		62,013
Present value of net minimum equipment financing payments	$	975,656
Lease cost:
Amortization of ROU assets	$	36,016
Interest on lease liabilities		35,577
Cash paid for amounts included in the measurement of lease liabilities:
Operating cashflow from equipment financing:	$	35,577
Financing cashflow from equipment financing:		164,312
Weighted-average remaining lease term - equipment financing:		2.4 years
Weighted-average discount rate		5.0	%