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Other receivables, net

12 Months Ended

Jun. 30, 2025

Other receivables, net

Other receivables, net

Note 4 – Other receivables, net

Other receivables, net consist of the following:

​

​	​	​	​	​	​	​
​	​	June 30,		​	June 30,
​		2025			2024
Advances to third parties[1] or employees	​	$	1,202,601	​	$	1,996,944
Interest receivables	​	​	236,667	​	​	97,917
Receivable due from buyer of disposed entities	​		—	​		2,582,761
Total other receivables	​	​	1,439,268	​	​	4,677,622
Less: allowance for credit losses	​	​	(403,403)	​	​	(2,972,289)
Total other receivables, net	​	$	1,035,865	​	$	1,705,333

^[1] Non-trade advances to third parties are short term in nature and are due on demand with no interest bearing. These advances were refundable and made in relation to establishing relationship for potential service providers of cryptocurrency operations.

Movements of allowance for credit losses are as follows:

​

​	​	​	​	​	​	​	​	​	​
​		For the year ended			For the year ended			For the year ended
​	​	June 30,		​	June 30,		​	June 30,
​	​	2025		​	2024		​	2023
Beginning balance	​	$	2,972,289	​	$	2,582,761	​	$	—
Addition	​		13,875	​		389,528	​		2,582,761
Write-off	​		(2,582,761)	​		—	​		—
Ending balance	​	$	403,403	​	$	2,972,289	​	$	2,582,761

​

X

- Definition

The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/310-10/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

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X

- References

No definition available.

+ Details

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