NOTE 9 — RELATED PARTY TRANSACTIONS
The table below sets forth the related parties
and their relationships with the Company as of June 30, 2025:
| Name of related party | | Relationship with the Company | | Jian Chen | | Founder and shareholder |
| | |
As of
June 30, | |
| | |
2025 | | |
2024 | |
| Amounts due to related parties, current* | |
| | | |
| | |
| Jian Chen | |
$ | - | | |
$ | 457,772 | |
| Amounts due to related parties, non-current* | |
| | | |
| | |
| Jian Chen | |
$ | 490,662 | | |
| - | |
| * | The balances mainly represent expenses paid on behalf of the Company for daily operations, and the movement of the balance was mainly due to foreign exchange rate fluctuation and a payment for operating activities of $38,400. |
Significant transactions with related parties were as follows:
| | |
For the Year Ended
June 30, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Transactions with related parties:* | |
| | | |
| | | |
| | |
| Jian Chen | |
$ | 2,100,000 | | |
| - | | |
$ | - | |
| * | The Company’s Chief Executive Officer and Director, Mr. Jian Chen, participated in the PIPE Offering on the same terms as other investors and purchased 525,000 ordinary shares and 1,575,000 warrants at the offering price. The transaction was negotiated on an arm-length basis and was approved by the Company’s shareholders and Board of Directors. The CEO’s participation has been disclosed as shareholders’ equity in Note 11. |
|