Related Party Transactions |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS | NOTE 11 – RELATED PARTY TRANSACTIONS
The table below sets forth the major related parties and their relationships with the Company, with which the Company entered into transactions during the three and nine months ended April 30, 2025 and 2024, or recorded balances as of April 30, 2025 and July 31, 2024:
In June 2022, the Company entered into an office lease agreement (“Lease Agreement”) with Zachary Group. Pursuant to the agreement, the Company would lease the office space for a lease term of 5 years, matured in May 2027. The monthly rental fee was $20,000, payable on a monthly basis. On March 1, 2024, the Company and Zachary Group modified the lease agreement to reduce the lease term and office space. The modified agreement was for a lease term of 2 years through February 2026, and monthly rental fee was $3,000, payable on a monthly basis. On November 30, 2024, the Company entered into an agreement with Zachary Group and agreed that the Lease Agreement would be terminated effective November 1, 2024.
For the three months ended April 30, 2025 and 2024, the Company recorded rental expenses of $ and $26,000, respectively. For the nine months ended April 30, 2025 and 2024, the Company recorded rental expenses of $12,000 and $146,000, respectively.
For the nine months ended April 30, 2025, the Company extended a loan of $93,013 to Mr. Jun Liu and subsequently collected loan of same amount from him.
For the three and nine months ended April 30, 2024, the Company repaid loans of $ and $17,710 to Asia International Securities Exchange Co., Ltd, respectively. The loans were interest free and was repayable on demand.
As of April 30, 2025 and July 31, 2024, the balances due from related parties were as follows:
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