Subsequent Events |
3 Months Ended |
|---|---|
Sep. 30, 2023 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | Note 20. SUBSEQUENT EVENTS
On October 6, 2023, the Company elected Ms. Yangyang Xu as a Class III independent director to serve until the annual meeting of stockholders for the fiscal year 2024, to fill the vacancy resulting from the resignation of Ms. Ling Jiang. The Board appointed Ms. Xu to serve as Chairwoman of the Compensation Committee and as a member of the Audit Committee and the Nominating and Corporate Governance Committee. Ms. Xu’s annual compensation will be $50,000 for her services as a director and committee member.
On October 19, 2023, New Energy Tech Limited (“New Energy”), a wholly-owned subsidiary of the Company, entered into a project service agreement (the “Service Agreement”) with Faith Group Company. (“Faith”), pursuant to which Faith shall provide Solar EPC project consulting services and Solar panel and associated equipment marketing services to New Energy. Faith guaranteed to source a minimum of 100 MW EPC projects within the first 12 months with a minimum of 20 MW of EPC projects sourced within the first 45 days and also source a minimum of $50 million of solar-related trading business within the 12-month period and with a minimum of $8 million sales contracts in first 45 days. On October 25, 2023, the Company’s wholly owned subsidiary, Sino-Global Shipping HK Ltd, made a prepayment of $2.5 million on behalf of New Energy to Faith as the deposit.
On October 24, 2023, the Company dissolved and disregistered its subsidiary, Ningbo Saimeinuo Web Technology Ltd. |