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Short-Term Loans

12 Months Ended

Jun. 30, 2024

Short-Term Loans [Abstract]

Short-term loans

Note 12 — Short-term loans

As of June 30, 2024 and 2023, the outstanding short-term loan from third parties consists of the following:

		June 30, 2024				June 30, 2023
Lender A(1)		$	261,208			$	261,208
Lender B(2)			30,000				30,000
Total short-term loan		$	291,208			$	291,208

(1) On December 30, 2020, the Company entered into a loan agreement with a third-party lender. The agreement allows the Company to draw up to $600,000 and is non-interest bearing. The Company’s imputed interest is immaterial. During the years ended June 30, 2024 and 2023, the Company neither drew money from the lender, nor made any repayment.

(2) On November 11, 2019, the Company entered into a loan agreement for an amount of $50,000 with a third-party lender. This loan is non-interest bearing. The Company’s imputed interest is immaterial. This loan had an original due date in February 2020 and automatically converted into a due on demand term thereafter. During the years ended June 30, 2024 and 2023, the Company neither drew money from the lender, nor made any repayment.

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- References

No definition available.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

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