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SUBSEQUENT EVENTS
3 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 21 - SUBSEQUENT EVENTS

 

On October 21, 2024, the Company’s stockholders approved a 1-for-24 reverse stock split of the shares of the Company’s common stock, with a par value of US$0.001 per share, which became effective on November 12, 2024 (the “Second 2024 Reverse Stock Split”). As a result of the Second 2024 Reverse Stock Split, each of the twenty-four pre-split shares of common stock outstanding automatically combined and converted to one issued and outstanding share of common stock without any action on the part of the stockholders. No fractional shares of common stock were issued to any shareholders in connection with the Second 2024 Reverse Stock Split. Each shareholder received one share of common stock in lieu of the fractional share that would have resulted from the Second 2024 Reverse Stock Split. As a result of the Second 2024 Reverse Stock Split, the Company’s shares and per share data as reflected in the unaudited condensed consolidated financial statements have been retroactively restated as if the transaction occurred at the beginning of the periods presented.

 

These unaudited condensed consolidated financial statements were approved by management and available for issuance on November 14, 2024, and the Company has evaluated subsequent events through this date. No subsequent events required adjustments to or disclosure in these unaudited condensed consolidated financial statements.