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Prepayments, Receivables and Other Assets, Net | 12 Months Ended
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Jun. 30, 2025
Prepaid Expenses and Other Current Assets, Net [Abstract] |
PREPAYMENTS, RECEIVABLES AND OTHER ASSETS, NET | NOTE 5 – PREPAYMENTS, RECEIVABLES AND OTHER ASSETS, NET Prepaid expenses and other current assets, net consisted of the following:
|  | As of June 30, |
|  | 2025 |  |  | 2024 |
Loans to third parties(1) |  | $ | 4,585,103 |  |  | $ | 3,087,665 |
Other receivables |  |  | 268,924 |  |  |  | 263,445 |
Subtotal |  |  | 4,854,027 |  |  |  | 3,351,110 |
Less: allowance for doubtful accounts |  |  | (27,938 | ) |  |  | (28,063 | )
Prepaid expenses and other current assets |  | $ | 4,826,089 |  |  | $ | 3,323,047 |
(1) | These loans mainly include two categories: The first category is loans issued to business partners for short-term working capital. The loan term is within 1 year, with an annual interest rate of 8%, and interest is paid semi-annually. Among these, the US$1.5 million loan of Borrower A was extended on March 11, 2025, with the maturity date of the extended loan being March 12, 2026. The US$1.02 million loan of Borrower B was extended on February 15, 2025, and the maturity date of the extended loan is February 15, 2026. The second category is the funds facilitated to a third party for higher yield of idle funds. As of June 30, 2025, the company has paid a total of $500,000. The maturity date of this entrusted fund is 203 days, with a yield rate of 4.3%. Among this, $150,000 matured on August 13, 2025. The company re-entrusted the total matured principal and earnings of $153,587, and the updated maturity date is March 14, 2026. The maturity date of the remaining $350,000 entrusted fund is October 28, 2025.
Individual loan exceeding 5% of current assets are as following:
|  | June 30, 2025
Name of The Borrowers |  | Principal Amount |  |  | Annual Interest Rate |  |  | Interest Receivable As of June 30, 2025 |  |  | Contract Term
Borrowers A |  | $ | 1,500,000 |  |  |  | 8 | % |  | $ | 5,836 |  |  | 2025.03.11-2026.03.12
Borrowers A |  |  | 1,000,000 |  |  |  | 8 | % |  | $ | 20.411 |  |  | 2024.11.12-2025.11.11
Borrowers B |  | $ | 1,020,000 |  |  |  | 8 | % |  | $ | 31,199 |  |  | 2025.02.15-2026.02.15
|  | June 30, 2024
Name of The Borrowers |  | Principal Amount |  |  | Annual Interest Rate |  |  | Interest Receivable As of June 30, 2024 |  |  | Contract Term
Borrowers A |  | $ | 1,500,000 |  |  |  | 8 | % |  | $ | 35,836 |  |  | 2024.03.13-2025.03.13
Borrowers B |  | $ | 1,020,000 |  |  |  | 8 | % |  | $ | 30,404 |  |  | 2024.02.15-2025.02.15
The movement of allowance of doubtful accounts is as follows:
|  | Years Ended June 30, |
|  | 2025 |  |  | 2024 |
Balance at beginning of the year |  | $ | 28,063 |  |  |  | 37,366 |
Current year addition |  |  | (125 | ) |  |  | (9,303 | )
Balance at end of the year |  | $ | 27,938 |  |  | $ | 28,063 |

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