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Intangible Assets, Net
 3 Months Ended
Sep. 30, 2025
Intangible Assets, Net [Abstract]  
Intangible assets, net

Note 8 – Intangible assets, net

 

Intangible assets, net consisted of the following:

 

   As of
September 30,		   As of
June 30,		 
   2025   2025 
   (Unaudited)     
Internal use software development  $23,980,607   $23,980,607 
Less: accumulated amortization   (1,418,427)   (1,418,427)
Less: Impairment   (19,517,303)   (19,517,303)
Total intangible assets, net  $3,044,877   $3,044,877 

 

Amortization expense for the three months ended of September 30, 2025 and 2024 was amounted to $0 and $302,802, respectively. During the year ended June 30, 2025, the Company recognized an impairment loss of $19,517,303 related to internal use software development. The impairment was primarily due to changes in the Company’s business strategy, which significantly reduced the expected future economic benefits associated with the affected assets. In accordance with ASC 360, the Company determined that the carrying amount of the intangible assets exceeds the estimated undiscounted future cash flows expected to result from its use, therefore, the Company recognized an impairment loss equal to the amount by which the carrying value exceeds its estimated fair value based on a discounted cash flows approach.

The following table sets forth the Company’s amortization expense for the next five years ending:

 

   Amortization 
   expenses 
Twelve months ending September 30, 2026  $608,975 
Twelve months ending September 30, 2027   608,975 
Twelve months ending September 30, 2028   608,975 
Twelve months ending September 30, 2029   608,975 
Twelve months ending September 30, 2030   608,977 
Total  $3,044,877