XML 44 R32.htm IDEA: XBRL DOCUMENT v3.24.3
Loans Payable (Tables)
 3 Months Ended
Sep. 30, 2024
Loans Payable [Abstract]  
Schedule of Loan Balance The loan balance consists of the following:
   September 30,
2024		   June 30,
2024		 
Equipment loans  $70,602   $84,357 
Vehicle loans   132,048    146,283 
Other loans   387,241    652,697 
Total   589,891    883,337 
Less: loan payable, current   (484,725)   (746,962)
Loan payable, non-current  $105,166   $136,375 
Schedule of Other Loans Other loans
   September 30,
2024		   June 30,
2024		 
Loan A  $150,000   $150,000 
Loan B   
—
    200,000 
Loan C   50,000    50,000 
Loan D   125,000    175,000 
Loan E   62,241    77,697 
Total  $387,241   $652,697 
(a)The Company entered a loan of $300,000 with an unrelated party on March 1, 2022. The loan is unsecured, with a fixed interest of 15% per annum and payable on monthly basis, for 6 months period and matured on September 1, 2022. On September 1, 2022, both parties agreed to extend the loan’s principal payment term to on demand.
(b)The Company entered a loan of $200,000 with an unrelated party on July 26, 2021. The loan is unsecured, with no interest bearing for 6 months period and matured on January 25, 2022. The Company paid a principal of $100,000 during the year ended June 30, 2021 and both parties agreed to extend the remaining principal balance of $100,000 payment term to on demand. On April 8, 2024, the Company entered another loan of $100,000 with the same party. The loan is unsecured, with no interest bearing for a 6-month period and matured on September 7, 2024. The Company has made repayment of $200,000 during the three months ended September 30, 2024.
(c)The Company entered a loan agreement of 50,000 with an employee on October 27, 2021. The loan is non-interest bearing, for a 12-month period, and matured on October 26, 2022.

On October 26, 2022, both parties agreed to extend the loan term to on demand.

(d) The Company entered a loan agreement of $100,000 with an unrelated party on July 3, 2023. The loan is non-interest bearing, for a 6-month period.

On April 10, 2024, the Company entered another loan agreement of $75,000 with same party. The loan is non-interest bearing, for a 6-month period, and matured on September 9, 2024.

The Company made repayment of $50,000 during the three months ended September 30, 2024. Both parties agreed to extend the remaining principal balance of $125,000 payment term to on demand

(e)The Company entered a loan of $125,000 with an unrelated party on August 17, 2023. The loan is personally guaranteed by Henry Liu, the Chairman of the Board and CEO, with a fixed interest of 16.00% per annum for 24 months period and matured on August 16, 2025. The monthly payment is $6,120 blending of interest and principal.
Schedule of Repayment Loans The repayment schedule for the Company’s loans is as follows:
Twelve months ending September 30,  Vehicle
loans		   Equipment
loans		   Others   Total 
2025  $57,279   $48,823   $392,320   $498,422 
2026   35,353    23,878    
-
    59,231 
2027   29,866    3,619    
-
    33,485 
2028   13,406    
-
    
-
    13,406 
2029   5,586    
-
    
-
    5,586 
Total undiscounted borrowings   141,490    76,320    392,320    610,130 
Less: imputed interest   (9,442)   (5,718)   (5,079)   (20,239)
Total  $132,048   $70,602   $387,241   $589,891