v3.26.3
Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Jun. 30, 2025
Current assets:    
Cash $ 19,328,650 $ 24,351,765
Restricted cash 50,228
Accounts receivable, net 19,819,480 39,588,998
Inventories, net 3,126,252 6,647,970
Prepaid expenses and other current assets 2,519,129 2,244,505
Total current assets 45,434,650 72,908,385
Other assets:    
Property, plant and equipment, net 2,423,509 2,952,800
Intangible assets, net 2,572,060 2,232,620
Right-of-use assets – operating leases 3,028,385 5,030,005
Other investment 2,000,000 2,000,000
Equity method investment 8,611,823 9,515,546
Other non-current assets 122,431 210,617
Accounts receivable – non current 7,367,158
Deferred tax assets 85,713
Total other assets 18,843,921 29,308,746
Total assets 64,278,571 102,217,131
Current liabilities    
Accounts payable 5,651,330 4,172,476
Contract liabilities 1,886,012 4,861,250
Accrued liabilities and other payables 5,532,103 8,099,991
Borrowing – current portion 805,361 1,146,766
Operating lease liabilities – current portion 1,443,763 1,838,815
Total current liabilities 44,631,529 72,539,554
Other liabilities:    
Borrowing – net of current portion 805,361
Operating lease liabilities – net of current portion 1,893,249 3,267,522
Total liabilities 93,524,778 101,612,437
Commitments and contingencies
Stockholders’ (deficit) equity:    
Common stock, par value $0.0001 per share; 140,000,000 shares authorized; 57,609,396 and 57,193,734 shares issued and outstanding as of June 30, 2026 and June 30, 2025 5,760 5,719
Treasury stock, at cost (60,488) (60,488)
Additional paid-in capital 52,276,766 48,833,601
Accumulated deficit (81,269,311) (48,065,267)
Accumulated other comprehensive loss (198,934) (108,871)
Total stockholders’ (deficit) equity (29,246,207) 604,694
Total liabilities and stockholders’ (deficit)/equity 64,278,571 102,217,131
Related Party    
Current assets:    
Due from a related party 590,911 75,147
Current liabilities    
Accounts payable – related party 29,312,960 52,420,256
Other liabilities:    
Amount due to a related party $ 47,000,000 $ 25,000,000