Lease Commitments (Tables)

12 Months Ended

Jun. 30, 2020

Lease Commitments

Schedule of Company's future minimum lease payments under operating lease liabilities

The following table sets forth the Company’s future minimum lease payments under operating lease liabilities recorded on the Company’s balance sheet as of June 30, 2020.

	Maturity of
	Operating Lease
Fiscal years ending	Liabilities
2021	$	6,065
2022	$	6,065
2023	$	6,065
2024	$	3,032
Total lease payments	$	21,227
Less: amounts representing interest	$	3,901
Present value of lease liabilities	$	17,326
Less: current portion	$	4,249
Long-term portion	$	13,077

Schedule of lease-related terms and discount rates

The table below presents lease-related terms and discount rates as of June 30, 2020.

	June 30, 2020
Weighted average remaining lease terms
Operating leases	3.5 years
Weighted average discount rate
Operating leases	12	%