Note 7. Leases (Tables)

3 Months Ended

Sep. 30, 2019

Leases [Abstract]

Other Information relating to lease

Leases	Classification on the Balance Sheet	September 30, 2019
Assets
Operating lease assets	Property and equipment, net	$	3,534,949
Finance lease assets	Property and equipment, net	$	2,795,834
Liabilities
Current
Operating	Current portion of operating lease liability	$	897,209
Finance	Current portion of finance lease liability	$	299,421
Noncurrent
Operating	Operating lease liability, net of current portion	$	2,637,740
Finance	Finance lease liability, net of current portion	$	2,830,489

Other information related to lease term and discount rate is as follows:

	September 30, 2019
Weighted Average Remaining Lease Term
Operating leases	3.8 years
Finance leases	9.3 years
Weighted Average Discount Rate
Operating leases		4.6%
Finance leases		5.8%

Components of lease expense

	Classification on the Statement of Operations	Three Months Ended September 30, 2019
Operating lease cost:
Operating lease cost	Cost of sales	$	70,515
Operating lease cost	Selling, general, and administrative expenses		187,401
Short term lease cost	Selling, general, and administrative expenses		15,750
Finance lease cost:
Amortization of finance lease assets	Cost of sales	$	35,670
Amortization of finance lease assets	Selling, general, and administrative expenses		48,857
Interest on finance lease liabilities	Interest expense, net		44,867
Total lease cost		$	403,060

Supplemental cash flow information related to leases

	Three Months Ended September 30, 2019
ROU assets obtained in exchange for lease liabilities:
Operating leases	$	3,749,809
Finance leases	$	3,086

Future minimum lease payments

	Operating Leases		Finance Leases
Year ending June 30,
2020 (excluding the three months ended September 30, 2019)	$	486,000	$	341,250
2021		190,000		462,286
2022		-		469,536
2023		-		443,056
2024		-		384,754
Thereafter		-		2,113,348
Total future minimum lease payments	$	676,000	$	4,214,230
Imputed interest				904,615
Deferred rent				177,181