Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Schedule of Fair Value of Financial Assets Measured on Recurring Basis

The Company’s assets that were measured at fair value on a recurring basis as of March 31, 2020, were as follows:

	Level 1		Level 2		Level 3		Total Assets
Revenues in excess of billings - long term	$	-	$	-	$	1,282,898	$	1,282,898
Total	$	-	$	-	$	1,282,898	$	1,282,898

The Company’s financial assets that were measured at fair value on a recurring basis as of June 30, 2019, were as follows:

	Level 1		Level 2		Level 3		Total Assets
Revenues in excess of billings - long term	$	-	$	-	$	1,281,492	$	1,281,492
Total	$	-	$	-	$	1,281,492	$	1,281,492

Schedule of Fair Value of Financial Instruments Reconciliation

The reconciliation from June 30, 2019 to March 31, 2020 is as follows:

	Revenues in excess of billings - long term			Fair value discount			Total
Balance at June 30, 2018	$	1,445,245		$	(238,576	)	$	1,206,669
Effect of ASC 606 adoption		(1,445,245	)		238,576			(1,206,669	)
Additions		1,380,631			(99,139	)		1,281,492
Balance at June 30, 2019	$	1,380,631		$	(99,139	)	$	1,281,492
Amortization during the period		-			41,621			41,621
Effect of Translation Adjustment		(42,840	)		2,625			(40,215	)
Balance at March 31, 2020	$	1,337,791		$	(54,893	)	$	1,282,898