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Related Party Transactions
 12 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 14 — RELATED PARTY TRANSACTIONS

 

The relationship of related parties is summarized as follows:

 

Name of Related Party   Relationship with the Company
Mr. Henry Liu   CEO, and an ultimate shareholder of the Company
Mr. Shuai Li   President, 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
ABL LAX LLC. (“ABL LAX”)   Controlled by Mr. Henry Liu and Mr. Shuai Li

 

a)Other receivable from related parties

 

Other receivable from related parties consists of balances with the parties listed below, arising from interest receivable, storage income, rental income, contractor salaries charged by related parties, other expenses paid on their behalf:

 

   June 30,
2025		   June 30,
2024		 
Other receivable from Weship  $753,116   $422,742 
Other receivable from Intermodal   99,635    18,537 
Other receivable from ABL LAX   18,291    
—
 
Other payable to ABL Shenzhen   (1,612)   
—
 
Total  $869,430   $441,279 

 

The Company has fully collected receivable from ABL LAX and collected approximately $59,000 from Weship and $54,000 from Intermodal as of the October 8, 2025, and is planning to collect the remaining receivable balance from three related parties by the end of December 2025.

 

b)Summary of balances payable to related parties

 

   June 30,
2025		   June 30,
2024		 
Account payable to Weship  $35,003   $175,172 
Account payable to ABL Wuhan   9,012    52,000 
Account payable to Intermodal   21,222    550 
Total  $65,237   $227,722 

  

c)Summary of balances receivable from related parties

 

   June 30,
2025		   June 30,
2024		 
Accounts receivable from Weship  $8,853   $32,435 
Accounts receivable from ABL Shenzhen   129,588    
—
 
Accounts receivable from ABL Wuhan   257,890    744,961 
Total  $396,331   $777,396 

 

The Company has fully collected the accounts receivables from the related parties as of October 8, 2025.

d)Loan receivable from related parties

 

   June 30,
2025		   June 30,
2024		 
Loan receivable from Weship  $148,000   $
     -
 
Loan receivable from ABL LAX   129,741    
-
 
Total  $277,741   $
-
 

 

During the fiscal year ended June 30, 2025, the Company entered into a loan agreement with related parties to support working capital needs. The loan bears interest at an annual rate of 8.99%, with the outstanding principal not exceeding US$1.0 million. The loan matures within twelve months from the date of execution. As of June 30, 2025, the total loan receivable from related parties was $0.3 million.

 

d)Summary of related parties’ transactions

 

   For the years ended
June 30,		 
   2025   2024 
Revenue from Weship (a)  $8,241   $28,870 
Revenue from ABL Wuhan (a)  $1,196,119   $1,835,377 
Revenue from ABL Shenzhen (a)  $698,371    
-
 
Revenue from ABL LAX  $3,084    
-
 
Cost of revenue charged by Weship (b)  $869,975   $1,555,680 
Rental income from Weship (c)  $331,665   $288,185 
Rental income from Intermodal (d)  $20,021    
-
 
Cost of revenue charged by Intermodal (e)  $673,823   $564,519 
Cost of revenue charged by ABL Wuhan (f)  $133,403   $162,625 
Cost of revenue charged by ABL LAX (g)  $2,737    
 
 
Interest expense charge by ABL Shenzhen (see Note 11)  $2,418    
-
 

 

During the years ended June 30, 2025 and 2024, the Company had the following transactions with its related parties — Weship, ABL Wuhan, ABL Shenzhen, ABL LAX and Intermodal

 

(a) The Company provides logistic forwarding services to Weship, ABL Wuhan and ABL Shenzhen and charges Weship, ABL Wuhan and ABL Shenzhen at its regular market rate for the services provided.

 

(b) Weship is one of the Company’s vendors for truck delivery service.

 

(c) The Company subleased portion of its warehouse space to Weship for rental income. The Company subleased its warehouse in Chicago to Weship in July 2023 and again for the period from January 2024 to June 2025. The Company also subleased another warehouse with monthly rent of $6,500 from August 01, 2023 to October 31, 2024.

 

(d) The Company subleased portion of its warehouse space to Intermodal for four months and another warehouse for twelve months.
   
(e)

Intermodal is one of the Company’s vendors, providing truck delivery service and provides labour forces.

 

(f)ABL Wuhan provides labor force and certain cross-border freight consolidation and forwarding services and is one of our cross-border freight consolidation and forwarding service providers.

 

(g)ABL LAX provides service of arranging goods in and out of warehouse.
e)Due to shareholders

 

   June 30,
2025		   June 30,
2024		 
Due to shareholders, end  $
—
   $(1,018,281)

 

The balance with the shareholders is unsecured, interest free, and due on demand. The Company had balance of due to shareholder Henry Liu of $nil and $986,923 and Shuai Li of $nil and $31,358 as of June 30, 2025 and 2024, respectively.

 

f)Dividend payable to shareholders

 

   June 30,
2025		   June 30,
2024		 
Dividend payable to Mr. Henry Liu  $
—
   $(27,056)
Dividend payable to Mr. Shuai Li   
—
    (71,794)
Total  $
—
   $(98,850)

 

No dividend was declared to shareholders for the years ended June 30, 2025. As of June 30, 2025, non-taxable dividends payable of $98,850 were offset against balances due from shareholders.

 

g)Salaries and employee benefits paid to major shareholders

 

   For the years ended

June 30,

 
   2025   2024 
Mr. Henry Liu  $110,205   $97,597 
Mr. Shuai Li   115,282    104,628 
Total  $225,487   $202,225