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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF CONSOLIDATED PRE-TAX INCOME (LOSS)

Consolidated pre-tax income (loss) consists of the following:

 SCHEDULE OF CONSOLIDATED PRE-TAX INCOME (LOSS)

		2024				2023
		Years Ended June 30,
		2024				2023
US operations		$	(1,719,058	)		$	(394,914	)
Foreign operations			4,942,505				(2,822,999	)
Net income before income taxes		$	3,223,447			$	(3,217,913	)

SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAXES

The components of the provision for income taxes are as follows:

 SCHEDULE OF COMPONENTS OF PROVISION FOR INCOME TAXES

		2024				2023
		Years Ended June 30,
		2024				2023
Current:
Federal		$	-			$	-
State and Local			1,600				13,972
Foreign			1,143,918				912,588
Deferred:
Federal			-				-
State and Local			-				-
Foreign			-				-
Provision for income taxes		$	1,145,518			$	926,560

SCHEDULE OF RECONCILIATION OF TAXES AT STATUTORY FEDERAL INCOME TAX RATE INCOME TAX EXPENSE BENEFITS

A reconciliation of taxes computed at the statutory federal income tax rate to income tax expense (benefit) is as follows:

 SCHEDULE OF RECONCILIATION OF TAXES AT STATUTORY FEDERAL INCOME TAX RATE INCOME TAX EXPENSE BENEFITS

		Years Ended June 30,
		2024								2023
Income tax (benefit) provision at statutory rate		$	676,924				21.0	%		$	(675,762	)			21.0	%
State income (benefit) taxes, net of federal tax benefit			224,997				7.0	%			(224,610	)			7.0	%
Foreign earnings taxed at different rates			(238,995	)			-7.4	%			1,702,463				-52.9	%
Change in valuation allowance for deferred tax assets			351,633				10.9	%			111,473				-3.5	%
Other			130,959				4.1	%			12,996				-0.4	%
Provision for income taxes		$	1,145,518				35.5	%		$	926,560				-28.8	%

SCHEDULE OF DEFERRED INCOME TAX ASSETS AND LIABILITIES

Deferred income tax assets and liabilities as of June 30, 2024 and 2023 consist of tax effects of temporary differences related to the following:

 SCHEDULE OF DEFERRED INCOME TAX ASSETS AND LIABILITIES

		2024				2023
		Years Ended June 30,
		2024				2023
Net operating loss carry forwards		$	11,190,703			$	8,281,162
Other			152,814				184,916
Net deferred tax assets			11,343,517				8,466,078
Valuation allowance for deferred tax assets			(11,343,517	)			(8,466,078	)
Net deferred tax assets		$	-			$	-

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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