v3.25.2
Accounts Receivable, Net
 12 Months Ended
Jun. 30, 2025
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE, NET

NOTE 4. ACCOUNTS RECEIVABLE, NET

 

As of June 30, 2025 and 2024, accounts receivable consisted of the following:

 

   As of
June 30,		   As of
June 30,		 
   2025   2024 
Accounts receivable – gross  $65,002,773   $65,620,003 
Allowance for credit losses   (17,971,470)   (5,885,238)
Accounts receivable, net  $47,031,303   $59,734,765 
           
Accounts receivable, net – current portion   39,664,145    59,734,765 
Accounts receivable, net – non current portion   7,367,158    
-
 
Accounts receivable, net  $47,031,303   $59,734,765 

 

The Company recorded $22,034,812 and $6,015,752 credit loss expenses for the years ended June 30, 2025 and 2024, respectively. The rise in credit loss expenses was due to higher aged receivables and an increase in estimated lifetime expected losses under the Company’s model, and a higher volume of past-due customer balances. For the years ended June 30, 2025 and 2024, the Company wrote off accounts receivable against allowance for credit losses of $9,948,580 and $1,629,320, respectively. As of June 30, 2025, there were $7,367,158 accounts receivable reclassified to accounts receivable – non current due to payment term extension arrangements with customers.

 

Activity in the allowance for credit losses is below:

 

   For the year ended
June 30,		 
   2025   2024 
Balance at July 1  $5,885,238   $1,498,806 
Provision for expected losses   

22,034,812

    6,015,752 
Write-offs charged against the allowance   (9,948,580)   (1,629,320)
Balance at June 30   

17,971,470

    5,885,238