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Loan Receivable
3 Months Ended
Sep. 30, 2024
Loan Receivable [Abstract]  
Loan Receivable

6. Loan Receivable

 

The Company’s loan receivables were consisted of the following:

 

  i) On February 8, 2023, the Company entered into a loan agreement with Pundarika LLC for a principal of US$500,000. The loan matured on February 15, 2024 and bore interest at an annual rate of 3.2%. The loan was fully paid on May 29, 2024.
     
  ii) On February 27, 2023, the Company entered into a loan agreement with Pundarika LLC for a principal of US$1,000,000. The loan matured on March 25, 2024 and bore interest at an annual rate of 3.2%. The loan was fully paid on May 29, 2024.
     
  iii) On March 24, 2023, the Company entered into a loan agreement with Pundarika LLC for a principal of US$925,000. The loan matured on April 30, 2024 and bore interest at an annual rate of 3.2%. The loan was fully paid on June 6, 2024.
     
  iv) On July 10, 2023, the Company entered into a loan agreement with Pundarika LLC for a principal of US$1,000,000. The loan matured on August 31, 2024 and bore interest at a rate of 3.2% annually. The loan was fully paid on August 30, 2024
     
  v) On January 24, 2024, the Company entered into a loan agreement with Paul Tam for a principal of US$150,000. The loan matures on January 24, 2025 and bears interest at a rate of 3.2% annually. The loan was fully paid on February 13, 2024.
     
  vi) On January 24, 2024, the Company entered into a loan agreement with Athena Home Inc. for a principal of US$600,000. The loan matures on January 24, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.
     
  vii) On May 22, 2024, the Company entered into a loan agreement with MYJW LLC. for a principal of US$400,000. The loan matures on December 31, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.
     
  viii) On May 28, 2024, the Company entered into a loan agreement with Pundarika LLC. for a principal of US$1.5 million. The loan matures on December 31, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.
     
  ix) On June 6, 2024, the Company entered into a loan agreement with Pundarika LLC. for a principal of US$1.0 million. The loan matures on December 31, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.
     
  x) On June 13, 2024, the Company entered into a loan agreement with Bacalar Enterprise Freight Inc. for a principal of US$250,000. The loan matures on June 13, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.
     
  xi) On August 29, 2024, the Company entered into a loan agreement with Pundarika LLC. for a principal of US$1.0 million. The loan matures on December 31, 2025 and bears interest at a rate of 3.2% annually. The Company expects to repay the loan upon maturity.

 

As of September 30, 2024, the Company recorded a loan receivable balance of US$861,554 and long-term loan receivable of US$3,921,243, including accrued interest income of US$32,797.

 

As of June 30, 2024, the Company recorded a loan receivable balance of US$1,877,131 and long-term loan receivable of US$2,908,636, including accrued interest income of US$35,767.