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Property and Equipment, Net
 6 Months Ended
Dec. 31, 2024
Property and Equipment, Net [Abstract]  
PROPERTY AND EQUIPMENT, NET

Note 9. PROPERTY AND EQUIPMENT, NET

 

The Company’s net property and equipment as follows:

 

   December 31,   June 30, 
   2024   2024 
Motor vehicles  $383,213   $383,213 
Computer equipment   52,591    82,421 
Office equipment   58,889    59,015 
Furniture and fixtures   28,654    96,013 
System software   102,392    102,843 
Leasehold improvements   58,390    58,648 
Mining equipment   
-
    922,439 
           
Total   684,129    1,704,592 
           
Less: Impairment reserve   (90,758)   (997,209)
Less: Accumulated depreciation and amortization   (447,222)   (523,744)
Property and equipment, net  $146,149   $183,639 

Movement of impairment for property and equipment is as follows:

 

   December 31,   June 30, 
   2024   2024 
Beginning balance  $997,209   $1,233,521 
Less: Write-off   (906,451)   (236,312)
Ending balance  $90,758   $997,209 

 

Depreciation and amortization expenses for the three months ended December 31, 2024 and 2023 were $18,504 and $37,924, respectively. Depreciation and amortization expenses for the six months ended December 31, 2024 and 2023 were $36,423 and $76,051, respectively. No impairment loss was recorded for the three and six months ended December 31, 2024 and 2023.

 

A batch of fixed assets were disposed of for the six months ended December 31, 2024, the original value of this batch of fixed assets is $ 1,019,161, the amount of accumulated depreciation is $111,668. Most of the fixed assets has been fully impaired in previous periods, therefore, the impairment reserve of $906,451 was written off, and the loss on disposal of fixed assets was $1,042.