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Other Receivables and Other Current Assets, Net (Tables)

9 Months Ended

Mar. 31, 2025

Other Receivables and Other Current Assets, Net [Abstract]

Schedule of Other Receivables and Other Current Assets, Net

		As of March 31, 2025				As of June 30, 2024
		(Unaudited)
Collaboration deposits ⁽ⁱ⁾		$	4,343,067			$	-
Deposits ⁽ⁱⁱ⁾			121,789				120,880
Prepaid tax			1,677				20,752
Prepaid expense ⁽ⁱⁱⁱ⁾			86,482				45,201
Prepaid technical support fee ^(v)			600,000				-
Software development deposit ^(iv)			611,897				84,823
Prepaid software development fee ^(viii)			7,928,107				-
Prepaid investment ^(vii)			110,132				-
Other receivable ^(vi)			129,042				127,226
Total other receivables and other current assets			13,932,193				398,882
Provision for estimated credit loss			(308,226	)			(212,053	)
Total other receivables and other current assets		$	13,623,967			$	186,829
Current		$	9,144,197			$	186,829
Non-current		$	4,479,770			$	-

(i)

On September 20, 2024, the Company entered into a partnership agreement (the “Partnership Agreement”) with Credilab Sdn. Bhd. (“CLSB”) for five years. Pursuant to the Partnership Agreement, the Company and CLSB will establish a strategic partnership aimed at leveraging their respective core competencies, resources, and market expertise to drive mutual benefit and growth, while the Company will periodically provide collaboration deposit fund to CLSB, which CLSB will be utilized to support CLSB’s credit service activities for the portfolio clients introduced by the Company’s ZCity App (“Portfolio Clients”). In return, the Company will share half of the revenue and processing fee from CLSB’s profit derived from Portfolio Client. As of March 31, 2025 the Company has disbursed $4,343,067 collaboration deposits to CLSB. As of March 31, 2025, $86,831 estimated credit loss was recorded against collaboration deposit.

(ii)

The balance of deposits mainly represented deposit made by the Company to a third-party service provider to secure the service, security deposit consists of rent and utilities, and others. As of March 31, 2025 and June 30, 2024, $112,701 and $106,028 estimated credit loss was recorded against doubtful receivables, respectively.

(iii)

The balance of prepaid expense mainly represented prepayment made by the Company to third parties for cyber security service, director & officer liability insurance (“D&O Insurance”) or other professional service.

(iv)

The balance of software development deposit consists as following:

On July 20, 2023, the Company entered into a software development agreement (the “Agreement”) with Nexgen Advisory Sdn Bhd (“Nexgen”), an unrelated third party. Pursuant to the Agreement, the Company engaged with Nexgen in software development related to the creation of an artificial intelligence-powered travel platform. As of September 30, 2023, the Company had made a $209,768 service deposit to Nexgen; however, the service had not yet commenced. On September 25, 2023, the Company terminated the Agreement with Nexgen. As of March 31, 2025, $121,945 of the service deposit were refunded by Nexgen. The remaining deposit of $90,161 is expected to recover by end of June 2025. As of March 31, 2025, and June 30, 2024, $45,081 and $42,412 estimated credit loss was recorded against the software development deposits.

On July 18, 2024, the Company entered into an agreement with Musli Development Sdn Bhd (“Musli”) and V Gallant Sdn Bhd (“V Gallant”) for the provision of subcontractor services related to developing smart campus management system at the Enforcement Leadership & Management University, Malaysia. Under the terms of these agreements, both Musli and V Gallant were engaged to provide services including infrastructure cabling, wiring, and network design consultancy for a total amount of $727,626 and $242,542 respectively. As of March 31, 2025, the Company had remitted a service deposit of $303,171 and $218,565 to Musli and V Gallant, respectively.

(v)

The balance of prepaid technical support fee consists as following:

On October 10, 2024, the Company entered into a service partnership agreement (the “Partnership Agreement”) with Octagram Investment Limited (“OCTA”), a Malaysian company, to establish a strategic partnership pursuant to the terms and conditions set forth in this Partnership Agreement. Pursuant to the Partnership Agreement, OCTA shall design, develop and deliver mini-game modules to be integrated into the ZCity App, an E-Commerce platform owned by the Company. In addition, OCTA shall customize the mini-game modules based on the Company’s detailed specification. The Company agreed to pay a total consideration of (USD 2,800,000) (“Service Fees”) to OCTA and/or its nominees by using the Company shares. The Service Fee includes an upfront payment for the development costs of the mini-game modules, as well as the payment of a flat fee of $10,000 per month, starting from the delivery of the first mini-game module, for the ongoing technical support for a period of five years. As of March 31, 2025, the first mini-game module has not yet been delivered to the Company. Consequently, a total of $600,000 in prepaid technical support fees paid to OCTA through the issuance of the Company’s common stock has been recorded as a prepaid expense, of which $500,000 is classified as non-current.

(vi)

The balance of other receivable consists as following:

On May 24, 2024, the Company has disposed all of its equity interest in Foodlink and its subsidiaries Morgan and for a consideration of $148,500. As of March 31, 2025 the Company has collected $21,274 from the Purchaser, and the remaining is expected to be fully repaid by December 2025. As of March 31, 2025 and June 30, 2024, $63,613 estimated credit loss was recorded against other receivable.

(vii)

The balance of prepaid investment consists as following:

On February 11, 2025, VWXYZ Venture Sdn Bhd (“VWXYZ”), the Company’s subsidiary, entered into a Share Purchase Agreement (“SPA”) with Amystic Commerce Sdn Bhd (“Amystic”), a private company incorporated in Malaysia. Pursuant to the SPA, VWXYZ will acquire 51% equity stake in Tien Ming Distribution Sdn Bhd (“Tien Ming”), a private company incorporated in Malaysia principally involved in distribution of all kinds of consumer products, providing logistics and acting as traders. The total consideration to be paid by VWXYZ to Amystic is RM3,000,000. As of March 31, 2025, the acquisition of Tien Ming has not been completed, and the Company has prepaid $110,132 purchase consideration toward to the acquisition.

(viii)

The balance of prepaid software development fee consists as following:

- Octagram Investment Limited

On October 10, 2024, the Company entered into a service partnership agreement with Octagram Investment Limited (“OCTA”), a Malaysian company, for the design and development of customized mini-game modules for integration into the Company’s ZCity App. As of March 31, 2025, the Company recorded $815,433 as a prepaid expense related to services not yet commenced. (See Note 14)

- V Gallant Sdn Bhd

On October 29, 2024, the Company entered into a service agreement with V Gallant Sdn Bhd (“V Gallant”), a Malaysian company, to provide generative AI solutions and AI digital human technology services. As of March 31, 2025, the Company recorded $7,112,674 as a prepaid expense for services not yet commenced. (See Note 14)

Schedule of Provision for Other Receivables

Movements of provision for other receivables’ estimated credit loss are as follows:

		As of March 31, 2025				As of June 30, 2024
		(Unaudited)
Beginning balance		$	212,053			$	-
Addition			86,831				212,758
Exchange rate effect			9,342				(705	)
Ending balance		$	308,226			$	212,053