v3.25.0.1
Cash and Cash Equivalents, Restricted Cash
 6 Months Ended
Dec. 31, 2024
Cash and Cash Equivalents, Restricted Cash [Abstract]  
CASH AND CASH EQUIVALENTS, RESTRICTED CASH

3. CASH AND CASH EQUIVALENTS, RESTRICTED CASH

 

Below is a breakdown of the Company’s cash balances in banks as of December 31, 2024 and June 30, 2024, both by geography and by currencies (translated into U.S. dollars):

 

   As of
December 31,		   As of
June 30,		 
By Geography:  2024   2024 
Cash in HK  $32,897,783   $32,667,486 
Cash in U.S.   1,193,782    2,240,874 
Cash in Malaysia   281,286    162,934 
Total  $34,372,851   $35,071,294 
           
By Currency:          
USD  $24,677,891   $25,399,331 
RM   182,527    88,598 
HKD   132,210    121,628 
EUR   9,340    13,056 
GBP   22,138    22,233 
RMB   9,348,745    9,426,448 
Total  $34,372,851   $35,071,294 

 

“HKD” refers to Hong Kong dollars, “GBP” refers to British pounds, “EUR” refers to Euros and “RM” refers to Malaysia ringgit.

 

As of December 31, 2024 and June 30, 2024, restricted cash totaled $22,535 and $0, and is included in Malaysia in RM. It represents a bank guarantee with the customs department in Malaysia. This amount will be reviewed annually and may increase depending on the Company’s Malaysian import and export forecasts for the coming year.