v3.25.3
Leases
12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES

NOTE 12 — LEASES

 

Operating Leases

 

On November 30, 2023, the Company entered into an operating lease for an office. The lease term was from November 30, 2023 to November 29, 2026. ASC 842 requires leases to recognize right-of-use assets and lease liabilities on the balance sheet.

 

The lease agreement does not contain any material residual value guarantees or material restrictive covenants, and the extended lease contract does not contain options to extend at the time of expiration.

 

   As of
June 30,
 
   2025   2024 
         
Operating lease right-of-use assets  $10,525   $18,035 
Operating lease liabilities – current   7,550    7,374 
Operating lease liabilities – noncurrent   
-
    7,584 
Total operating lease liabilities  $7,550   $14,958 

 

The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows:

 

   As of
June 30,
 
   2025   2024 
Weighted-average remaining lease term (years)   1.42    2.42 
Weighted-average discount rate   2.80%   2.80%

The following table summarizes the maturity of operating lease liabilities as of June 30, 2025:

 

Year ending June 30,  Amount 
     
2026   7,550 
Thereafter   
 
Total lease payments   7,656 
Less: imputed interest   (106)
Total lease liabilities  $7,550