XML 24 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
Prepayments and other current assets, net
 6 Months Ended
Dec. 31, 2023
Prepayments And Other Current Assets Net  
Prepayments and other current assets, net

Note 8 – Prepayments and other current assets, net

 

As of December 31, 2023 and June 30, 2023, prepayments and other current assets consisted of the following:

        
   December 31, 2023   June 30, 2023 
Advance to suppliers  $750,973   $1,668,173 
Prepaid income taxes   41,987    45,718 
Prepaid expenses and other receivables   939,377    1,393,433 
Less: Allowance for credit losses   (249,128)   (249,128)
           
Total  $1,483,209   $2,858,196 

 

Other receivables consisted of delivery fees of $64,831 and $165,962 and receivables from one and two unrelated parties for their use of the Company’s courier accounts at December 31, 2023 and June 30, 2023.

 

The changes in allowance for credit losses on other receivables are summarized below:

       
   

Allowance for

Credit Losses

  
Balance at June 30, 2022  $ –  
Allowance recorded during the three months ended September 30, 2022    –  
Balance at September 30, 2022  $ –  
Allowance recorded during the three months ended December 31, 2022    –  
Balance at December 31, 2022  $ –  
         
Balance at June 30, 2023  $ 249,128  
Allowance recorded during the three months ended September 30, 2023    –  
Balance at September 30, 2023  $ 249,128  
Allowance recorded during the three months ended December 31, 2023    –  
Balance at December 31, 2023  $ 249,128