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Other Receivables, Net
 6 Months Ended
Dec. 31, 2023
Other Receivables Net [Abstract]  
Other receivables, net

Note 3 – Other receivables, net

 

Other receivables consisted of the following:

 

   December 31,
2023		   June 30,
2023		 
   (Unaudited)     
Others  $332   $332 
Receivables from vendors upon cancellation of concerts   23,286,550    13,000,000 
Receivables from transfer of concert cooperation right   1,500,000    
-
 
Other receivables   24,786,882    13,000,332 
Allowance for credit losses   (23,286,550)   (7,500,000)
Other receivables, net  $1,500,332   $5,500,332 

 

For the six months ended December 31, 2023 and 2022, the Company recognized $15,786,550 and $0 on provision for allowance on credit losses, respectively.

 

Movements of allowance for credit losses consisted of the following as of the date indicated:

 

   December 31,
2023		   June 30,
2023		 
   (Unaudited)     
Beginning balance  $7,500,000   $
-
 
Addition   15,786,550    7,500,000 
Ending balance  $23,286,550   $7,500,000