| PREPAYMENT, DEPOSIT AND OTHER RECEIVABLE |
NOTE 6 — PREPAYMENT, DEPOSIT AND OTHER RECEIVABLE
| | |
March 31,
2026 | | |
June 30,
2025 | |
| Prepayment and other deposits (a) | |
$ | 2,518,533 | | |
$ | 246,700 | |
| Rent deposits | |
| 14,774 | | |
| 14,227 | |
| Advance to suppliers (b) | |
| 2,915,330 | | |
| - | |
| Ending balance | |
| 5,448,637 | | |
| 260,927 | |
| Less: non-current portion | |
| (34,394 | ) | |
| (38,934 | ) |
| Current portion | |
$ | 5,414,243 | | |
$ | 221,993 | |
| (a) | The
Company entered several consulting agreements with third parties and issued shares for the services to be provided from July 2025 to
December 2026. As of March 31, 2026, balance mainly represented the prepaid consulting services of $2.3 million. |
| (b) | The
Company entered a purchase agreement with a third party to purchase $2.9 million steel bar on September 15, 2025. As of March 31, 2026,
$2.9 million has been paid to the supplier and the delivery is expected to be completed within 360 days after the prepayment. |
|