Income Taxes (Tables)
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12 Months Ended |
Jun. 30, 2026 |
| Income Taxes [Abstract] |
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| Schedule of Income Loss Before Income Taxes |
For the years ended June 30, 2026 and 2025 income (loss) before income taxes by major taxing jurisdiction consists of: | | | Years ended June 30, | | | | | 2026 | | | 2025 | | | HK | | $ | 7,038,205 | | | $ | 7,447,310 | | | U.S. | | | (36,451,950 | ) | | | (44,039,142 | ) | | Malaysia | | | (2,642,917 | ) | | | (1,444,690 | ) | | Total | | $ | (32,056,662 | ) | | $ | (38,036,522 | ) |
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| Schedule of Provision for Income Taxes |
The provision for income taxes consisted of the following: | | | Years ended June 30, | | | | | 2026 | | | 2025 | | | Current provision: | | | | | | | | | | United States – Federal | | $ | - | | | | - | | | United States - State | | | 14,190 | | | | - | | | Foreign | | | 1,218,905 | | | | 1,203,704 | | | Total current provision | | | 1,233,095 | | | | 1,203,704 | | | | | | | | | | | | | Deferred provision: | | | | | | | | | | United States – Federal | | | - | | | | - | | | United States - State | | | - | | | | - | | | Foreign | | | (85,713 | ) | | | - | | | Total deferred provision: | | | (85,713 | ) | | | - | | | | | | | | | | | | | Total provision for income tax | | $ | 1,147,382 | | | $ | 1,203,704 | |
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| Schedule of Aforementioned Statutory Tax Rate to Pre-Tax Income |
The reconciliation of the actual income taxes to the amount of tax computed by applying the aforementioned statutory tax rate to pre-tax income is as follows: | | | Years ended June 30, | | | | | 2026 | | | 2025 | | | Federal statutory income tax rate | | $ | (6,732,256 | ) | | $ | (7,987,670 | ) | | State income taxes, net of federal benefit | | | (2,469,295 | ) | | | (3,054,267 | ) | | Global Intangible Low-Taxes Income | | | 666,641 | | | | 1,007,772 | | | Permanent Differences | | | 237,117 | | | | 56,843 | | | Foreign Rate Differential | | | (396,378 | ) | | | (373,481 | ) | | Effect of entity tax reclassification | | | 448,686 | | | | 4,832,943 | | | Hong Kong Preferential Rate | | | (21,538 | ) | | | (11,908 | ) | | Change in valuation allowance | | | 9,401,452 | | | | 6,750,352 | | | Other | | | 12,953 | | | | (16,880 | ) | | Income tax expense | | $ | 1,147,382 | | | $ | 1,203,704 | |
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| Schedule of Deferred Tax Liabilities and Assets |
Significant components of the Company’s deferred tax liabilities and assets as of June 30, 2026 and 2025 are as follows: | | | Years ended June 30, | | | | | 2026 | | | 2025 | | | Deferred tax assets: | | | | | | | | Net operating loss carryforward | | $ | 17,973,556 | | | $ | 10,839,605 | | | Accounts receivable impairment | | | 6,487,479 | | | | 5,456,177 | | | Share based compensation | | | 2,194,433 | | | | 1,868,307 | | | Lease liabilities | | | 830,588 | | | | 1,270,401 | | | Others | | | 1,539,074 | | | | 775,701 | | | Total deferred tax assets | | | 29,025,130 | | | | 20,210,191 | | | Less: Valuation allowance | | | (28,018,555 | ) | | | (18,617,103 | ) | | Net deferred assets | | | 1,006,575 | | | | 1,593,088 | | | | | | | | | | | | | Deferred tax liabilities: | | | | | | | | | | Property, plant and equipment | | | (167,217 | ) | | | (353,363 | ) | | Intangible Assets | | | (22,399 | ) | | | (8,405 | ) | | Right of use assets | | | (731,246 | ) | | | (1,231,320 | ) | | Net deferred tax liabilities | | | (920,862 | ) | | | (1,593,088 | ) | | | | | | | | | | | | Net deferred tax asset | | $ | 85,713 | | | $ | - | |
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| Schedule of Valuation Allowance |
Movement of valuation allowance: | | | Years ended June 30, | | | | | 2026 | | | 2025 | | | At the beginning of the year | | $ | 18,617,103 | | | $ | 11,850,516 | | | Current year addition | | | 9,401,452 | | | | 6,766,587 | | | At the end of the year | | $ | 28,018,555 | | | $ | 18,617,103 | |
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