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Prepayments and Other Assets, Net (Tables) | 6 Months Ended
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Mar. 31, 2024
Prepayments and Other Assets, Net [Abstract] |
Schedule of Prepayments and Other Assets, Net | Prepayments and other assets, net consisted of the following:
|  | March 31, 2024 |  |  | September 30, 2023 |
Prepaid rents (a) |  | $ | 125,556 |  |  | $ | 191,339 |
Prepaid service fee (b) |  |  | 482,410 |  |  |  | 597,410 |
Loans to third parties (c) |  |  | 246,186 |  |  |  | 238,134 |
Advances to vendors (d) |  |  | 251,949 |  |  |  | 378,152 |
Advance to employees (e) |  |  | 47,979 |  |  |  | 5,491 |
Security deposits |  |  | 219,068 |  |  |  | 202,155 |
Prepayment for acquisition (f) |  |  | 5,362,816 |  |  |  | 3,602,000 |
Prepaid board compensation |  |  | 15,005 |  |  |  | 16,667 |
Others (g) |  |  | 46,321 |  |  |  | 111,386 |
Prepayment and other assets, net |  | $ | 6,797,290 |  |  | $ | 5,342,734 |
Including: |  |  |  |  |  |  |  |
Prepayment and other current assets, net |  | $ | 6,224,697 |  |  | $ | 4,869,347 |
Prepayments and other non-current assets, net |  | $ | 572,593 |  |  | $ | 473,387 |
(a) | Prepaid rents represent the prepayment of rent related to leases expiring within 12 months.
(b) | The prepaid expenses mainly represents the prepayment for teaching platform software technical service provided by third party service providers that will be amortized over one to three years.
(c) | Loans to third parties represent the balance of the amount lent to various third parties for their working capital needs at an interest rate of 5% per annum.
(d) | Advances to vendors primarily included prepayment for abroad-study programs.
(e) | Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred.
(f) | On April 10, 2023, the Company signed a Share Purchase Agreement (“SPA”) to purchase 100% equity interest of Kaiye (Wenzhou) Water Project Development Co., Ltd (“Kaiye”) from a third party and Ms. Zhao Dongfang, a shareholder of the Company who owns approximately 3.4% of the Company’s equity shares. Kaiye is a provider of waterfront tourism projects especially water sports projects development. Pursuant to the SPA, the total consideration is $5,000,000, which will be paid in three installments. On March 1, 2024, all parties agreed to amend the consideration to $5,983,131 (RMB43.2 million) As of March 31, 2024, the Company has paid $5,362,816 (RMB38,721,142). The Company expect to complete this transaction end of the fiscal year 2024.
(g) | Others primarily included funds deposited in payment platforms such as Alipay and WeChat.
Schedule of Allowance for Doubtful Accounts | Allowance for doubtful accounts movement:
|  | March 31, 2024 |  |  | September 30, 2023 |
Beginning balance |  | $ | - |  |  | $ | - |
Provision for security deposits |  |  | - |  |  |  | 10,378 |
Write off security deposits |  |  | - |  |  |  | (10,378 | )
Ending balance |  | $ | - |  |  | $ | - |

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