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Other Non-Current Assets | 12 Months Ended
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Jun. 30, 2024
Other Non-Current Assets [Abstract] |
OTHER NON-CURRENT ASSETS |
10. | OTHER NON-CURRENT ASSETS
|  | As of June 30, |
|  | 2024 |  |  | 2023 |
Equity investment |  |  | 54,289 |  |  |  | 41,372 |
Prepayment of brand authorization |  |  | 4,600,000 |  |  |  | 4,600,000 |
Prepaid consulting fees or other expenses |  |  | 16,430 |  |  |  | 462,967 |
Security deposit |  |  | - |  |  |  | 16,260 |
Other long-term receivables |  |  | 195,477 |  |  |  | - |
|  | $ | 4,866,196 |  |  | $ | 5,120,599 |
Impairment |  |  | (4,600,000 | ) |  |  | - |
Other non-current assets |  |  | 266,196 |  |  |  | 5,120,599 |
As of June 30, 2024, other non-current assets mainly consisted of the prepayment for brand authorization in the amount of $4,600,000. It included the payment to Wanyee Trading Company Limited and LiheTrading Limited for negotiating with the brand owner of “Stussy” and “fear of god” for acting as an agent for these brands in mainland China. As the recoverability of the prepayment is doubtful, the Company made full impairment against the cost. The equity investment as of June 30, 2024 represented the equity investment in Junpu Jiyuan of $26,650 and Xiamen Hualiu Boying Film & Media Co., Ltd of $27,639. As of June 30, 2023, other non-current assets mainly consisted of the prepayment for brand authorization in the amount of $4,600,000. It included the payment to Wanyee Trading Company Limited and LiheTrading Limited for negotiating with the brand owner of “Stussy” and “fear of god” for acting as an agent for these brands in mainland China.

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