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Property and Equipment, Net | 12 Months Ended
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Jun. 30, 2023
Property and Equipment, Net [Abstract] |
PROPERTY AND EQUIPMENT, NET | NOTE 6 – PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following:
|  | As of June 30, |
|  | 2023 |  |  | 2022 |
Office building |  | $ | 20,354,809 |  |  | $ | 20,198,454 |
Equipment |  |  | 1,067,695 |  |  |  | 1,224,250 |
Office building related facility, machinery and equipment |  |  | 182,503 |  |  |  | 225,773 |
Automobiles |  |  | 37,421 |  |  |  | 118,472 |
Office Furniture |  |  | 136,034 |  |  |  | 69,448 |
Leasehold improvements |  |  | 772,210 |  |  |  | 667,785 |
Total |  |  | 22,550,672 |  |  |  | 22,504,182 |
Less: accumulated depreciation |  |  | (2,438,367 | ) |  |  | (1,903,084 | )
Property and equipment, net |  | $ | 20,112,305 |  |  | $ | 20,601,098 |
Depreciation expense was $1,040,734, $709,836, and $404,063, for the years ended June 30, 2023, 2022 and 2021, respectively. No impairment loss was recognized for the years ended June 30, 2023, 2022 and 2021. As of June 30, 2023, the office building with carrying amount of US$15,292,336 is mortgaged to secure financing credit facility of HKD 58,000,00 from Taipei Fubon Bank.

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