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Prepaid Expenses and Other Current Assets
 6 Months Ended
Dec. 31, 2023
Prepaid Expenses and Other Current Assets [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS

7. PREPAID EXPENSES AND OTHER CURRENT ASSETS

 

As of June 30, 2023, and December 31, 2023, prepaid expenses and other current assets consisted of the following:

 

   As of
June 30,		   As of
December 31,		 
   2023   2023 
Prepayment for inventory purchases  $3,209,413   $1,123,166 
Other receivable   142,230    130,162 
Prepayments   26,974    1,363,801 
Prepaid provisional profit tax – Hong Kong   
-
    440,094 
Interest  receivable   
-
    125,992 
Total  $3,378,617   $3,183,215 

  

Prepayments primarily consist of prepayment for production testers and jigs for Ispire Malaysia, and prepayments for marketing services.