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Prepayments and other current assets, net

9 Months Ended

Mar. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepayments and other current assets, net

Note 7 – Prepayments and other current assets, net

As of March 31, 2025 and June 30, 2024, prepayments and other current assets consisted of the following:


	March 31, 2025		June 30, 2024
Advance to suppliers	$	2,152,451	$	1,567,528
Prepaid income taxes		10,350		31,496
Prepaid expenses and other receivables		498,167		747,510
Less: Allowance for credit losses		–		–

Total	$	2,660,968	$	2,346,534

Other receivables consisted of delivery fees of $10,698 and $3,995 from a third party for using the Company’s courier accounts at March 31, 2025 and June 30, 2024.

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


	Allowance for Credit Losses
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
Allowance recorded during the three months ended March 31, 2024		–
Balance at March 31, 2024	$	249,128

Balance at June 30, 2024	$	–
Allowance recorded during the three months ended September 30, 2024		–
Balance at September 30, 2024		–
Allowance recorded during the three months ended December 31, 2024	$	–
Balance at December 31, 2024	$	–
Allowance recorded during the three months ended March 31, 2025		–
Balance at March 31, 2025	$	–

During the year ended June 30, 2024, the Company collected $249,128 of aged other receivables and recorded a reduction of bad debts expense as a reversal of the allowance for credit losses.