v3.25.2
Unaudited Condensed Combined and Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Jun. 30, 2024
Current Assets:    
Cash $ 4,905,206 $ 3,751,921
Accounts receivable, net 261,821
Prepayments and other current assets 640,491 555,070
Total Current Assets 5,979,068 5,109,072
Vessels, net 51,370,567 53,223,618
Property and equipment, net 7,871 4,686
Deferred dry dock cost, net 822,550 959,924
Right-of-use asset-operating lease, net 3,089,271 4,587,352
Deferred IPO cost 1,042,023 287,835
Prepayments and other non-current assets 975,000 975,000
Total Non-Current Assets 57,307,282 60,038,415
Total Assets 63,286,350 65,147,487
Current Liabilities:    
Current maturity of long-term loan 1,656,288 1,656,288
Accounts payable 1,049,658 1,035,506
Accrued expenses and other current liabilities 669,649 314,919
Operating lease liabilities – current 2,942,590 3,026,234
Financing lease liabilities – current 3,263,573 3,256,190
Long-term payable, current 998,023 1,050,000
Total Current Liabilities 35,739,052 35,404,025
Long-term loan 2,053,680 2,848,986
Long-term payable, non-current 440,129
Operating lease liabilities – non-current 1,572,994
Financing lease liabilities – non-current 12,314,883 13,948,550
Total Non-Current Liabilities 14,368,563 18,810,659
Total Liabilities 50,107,615 54,214,684
COMMITMENTS AND CONTINGENCIES
Shareholders’ Equity:    
Ordinary shares, $0.0001 par value, 500 million shares authorized, 25,000,001 share issued and outstanding as of December 31, 2024 and June 30, 2024, respectively [1] 2,500 2,500
Subscription receivable (1,350,000)
Additional paid-in capital 3,016,900 3,016,900
Retained earnings 10,159,335 9,263,403
Total Shareholders’ Equity 13,178,735 10,932,803
Total Equity 13,178,735 10,932,803
Total Liabilities and Equity 63,286,350 65,147,487
Related Party    
Current Assets:    
Due from related parties 433,371 540,260
Current Liabilities:    
Due to related parties $ 25,159,271 $ 25,064,888
[1] Shares and per share data are presented on a retroactive basis to reflect the recapitalization as described in Note 11.