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v3.24.3

Related Party Transactions (Tables) | 3 Months Ended
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Sep. 30, 2024
Related Party Transactions [Abstract] |
Schedule of Relationship of Related Parties | The relationship of related parties is summarized as follow:
Name of Related Party |  | Relationship to the Company
Mr. Henry Liu |  | Chairman of the Board, CEO, and an ultimate shareholder of the Company
Mr. Shuai Li |  | President, COO, and an ultimate shareholder of the Company
Weship Transport Inc. (“Weship”) |  | Controlled by Mr. Henry Liu
American Bear Logistics (Wuhan) Co., Ltd. (“ABL Wuhan”) |  | The Company owns 5% of equity interest
American Bear Logistics (Shenzhen) Co., Ltd. (“ABL Shenzhen”) |  | 100% owned subsidiary of ABL Wuhan
LLL Intermodal Inc. (“Intermodal”) |  | Controlled by Mr. Henry Liu
Schedule of Related Parties Consist of Mainly Rent Receivables | Due from related parties consist of mainly rent receivables from the following:
|  | September 30, 2024 |  | June 30, 2024
Due from Weship |  | $ | 626,781 |  |  | $ | 422,742 |
Due from Intermodal |  |  | 18,537 |  |  |  | 18,537 |
Total |  | $ | 645,318 |  |  | $ | 441,279 |
Schedule of Balances Payable to Related Parties | Summary of balances payable to related parties
|  | September 30, 2024 |  |  | June 30, 2024 |
Account payable to Weship |  | $ | 34,622 |  |  | $ | 175,172 |
Account payable to ABL Wuhan |  |  | 36,250 |  |  |  | 52,000 |
Account payable to Intermodal |  |  | - |  |  |  | 550 |
Total |  | $ | 70,872 |  |  | $ | 227,722 |
Schedule of Balances Receivable from Related Parties | Summary of balances receivable from related parties
|  | September 30, 2024 |  |  | June 30, 2024 |
Account receivable from Weship |  | $ | 33,867 |  |  | $ | 32,435 |
Account receivable from ABL Shenzhen |  |  | 55,508 |  |  |  | - |
Account receivable from ABL Wuhan |  |  | 430,097 |  |  |  | 744,961 |
Total |  | $ | 519,472 |  |  | $ | 777,396 |
Schedule of Related Parties’ Transactions | Summary of related parties’ transactions
|  | For the three months ended September 30, |
|  | 2024 |  |  | 2023 |
Revenue from Weship |  | $ | 1,432 |  |  | $ | 3,141 |
Revenue from ABL Wuhan |  | $ | 424,827 |  |  | $ | 91,048 |
Revenue from ABL Shenzhen |  | $ | 55,508 |  |  | $ | - |
Cost of revenue charged by Weship |  | $ | 346,015 |  |  | $ | 459,435 |
Rental income from Weship |  | $ | 97,312 |  |  | $ | 36,883 |
Cost of revenue charged by Intermodal |  | $ | 172,465 |  |  | $ | 124,176 |
Cost of revenue charged by ABL Wuhan |  | $ | 46,250 |  |  | $ | 11,725 |
Schedule of Due to Shareholders | Due to shareholders
|  | September 30, 2024 |  | June 30, 2024
Due to shareholders, end |  | $ | (138,107 | ) |  | $ | (1,018,281 | )
Schedule of Dividend Payable to Shareholders | Dividend payable to shareholders
|  | September 30, 2024 |  |  | June 30, 2024 |
Dividend payable to Mr. Henry Liu |  | $ | (27,056 | ) |  | $ | (27,056 | )
Dividend payable to Mr. Shuai Li |  |  | (71,794 | ) |  |  | (71,794 | )
Total |  | $ | (98,850 | ) |  | $ | (98,850 | )
Schedule of Salaries and Employee Benefits Paid to Major Shareholders | Salaries and employee benefits paid to major shareholders
|  | For the three months ended September 30, |
|  | 2024 |  |  | 2023 |
Mr. Henry Liu |  | $ | 22,523 |  |  | $ | 29,822 |
Mr. Shuai Li |  |  | 25,810 |  |  |  | 30,503 |
Total |  | $ | 48,333 |  |  | $ | 60,325 |

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