Note 3 — PREPAYMENTS AND OTHER
ASSETS, NET
Prepayments and other current assets consisted
of the following:
| | |
As of
December 31,
2024 | | |
As of
June 30,
2024 | |
| Advance to crew | |
$ | 271,913 | | |
$ | 267,165 | |
| Advance to employee | |
| 175,662 | | |
| 211,375 | |
| Advance Payment | |
| 173,555 | | |
| — | |
| Other | |
| 19,361 | | |
| 76,530 | |
| Total | |
$ | 640,491 | | |
$ | 555,070 | |
Prepayments and other non-current assets consisted
of the following:
| | |
As of
December 31,
2024 | | |
As of
June 30,
2024 | |
| Rental deposit(1) | |
$ | 500,000 | | |
$ | 500,000 | |
| Loan security deposit(2) | |
| 475,000 | | |
| 475,000 | |
| Total | |
$ | 975,000 | | |
$ | 975,000 | |
| (1) | Rental deposit represents a deposit of $500,000 paid to the
lessor of Top Advancer (see Note 7). |
| (2) | This is long-term loan security deposit of $475,000, which
is expected to be collected at the end of long-term loan agreement (see Note 8). |
|