| Schedule of Accounts Payable, Accrued Expenses and Other Current Liabilities |
Accounts payable, accrued expenses and other current liabilities consisted
of the following:
| | |
April 30, 2025 | | |
July 31, 2024 | |
| | |
(unaudited) | | |
| |
| Accounts payable, accrued expenses and other current liabilities: | |
| | |
| |
| Accrued litigation fee, current (a) | |
$ | - | | |
$ | 750,000 | |
| Investment securities payable | |
| - | | |
| 69,621 | |
| Others | |
| 8,088 | | |
| 137,436 | |
| | |
$ | 8,088 | | |
$ | 957,057 | |
| Current portion of long-term payables: | |
| | | |
| | |
| Accrued litigation fee (a) | |
$ | 250,000 | | |
$ | - | |
| Long-term payables | |
| | | |
| | |
| Accrued litigation fee, noncurrent (a) | |
$ | - | | |
$ | 250,000 | |
| (a) | On September 24, 2024, the Company and Boustead Securities, LLC (“Boustead”) entered into a settlement agreement, pursuant to which the Company would compensate Boustead in the amount of $1,000,000. The compensation is payable in three instalments, with first instalment of $250,000 payable with execution of settlement agreement, the second instalment of $500,000 payable before March 1, 2025, and the final instalment of $250,000 payable before December 31, 2025. In September 2024 and February, the Company made the first and second payments totaling $750,000. Accordingly, the Company recorded accrued litigation fees of $nil and $750,000 as current liabilities as of April 30, 2025 and July 31, 2024, respectively. The remaining $250,000 was recorded as current portion of long-term payables and noncurrent liabilities as of April 30, 2025 and July 31, 2024, respectively. |
|