| SCHEDULE I-FINANCIAL INFORMATION OF THE PARENT COMPANY |
SCHEDULE I- FINANCIAL INFORMATION OF THE PARENT
COMPANY
The Company performed a test on the restricted
net assets of the consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3),
“General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information
for the parent company only.
The subsidiaries did not pay any dividends to
the Company for the periods presented. Certain information and footnote disclosures generally included in the financial statements prepared
in accordance with U.S. GAAP have been omitted. These statements should be read in conjunction with the notes to the consolidated
financial statements of the Company.
The financial information of the parent company
has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that
the parent company used the equity method to account for investments in its subsidiaries.
The following represents the financial
information of the parent company:
SCHEDULE I- BALANCE SHEETS
| | |
As of
June 30, | |
| | |
2025 | | |
2024 | |
| ASSETS | |
| | |
| |
| Cash | |
$ | 6,635,163 | | |
$ | 3,566,438 | |
| Due from intercompany | |
| 12,069,820 | | |
| 409,820 | |
| Other receivables | |
| - | | |
| 9,395,453 | |
| Investment in subsidiaries | |
| 354,260 | | |
| 555,114 | |
| Total Assets | |
$ | 19,059,243 | | |
$ | 13,926,825 | |
| | |
| | | |
| | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |
| | | |
| | |
| Accrued expenses and other current liabilities | |
$ | 40,327 | | |
$ | 52,827 | |
| Total Current Liabilities | |
| 40,327 | | |
| 52,827 | |
| | |
| | | |
| | |
| Shareholders’ Equity | |
| | | |
| | |
| Ordinary shares ($0.0016 par value, 625,000,000 authorized, 20,784,142 and 1,687,500 shares issued and outstanding as of June 30, 2025 and 2024, respectively) | |
| 33,255 | | |
| 2,700 | |
| Additional paid-in capital | |
| 22,412,245 | | |
| 14,578,800 | |
| Accumulated deficits | |
| (3,426,584 | ) | |
| (707,502 | ) |
| Total shareholders’
equity | |
| 19,018,916 | | |
| 13,873,998 | |
| Total liabilities and
shareholders’ equity | |
$ | 19,059,243 | | |
$ | 13,926,825 | |
| * | Giving retroactive effect to the 1-for-16 reverse share split completed on November 27, 2024. |
SCHEDULE I- STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS
| | |
For the years ended
June 30, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Operating expenses: | |
| | |
| | |
| |
| General and administrative expenses | |
| (523,720 | ) | |
| (722,872 | ) | |
| (362,880 | ) |
| Equity (loss) income in subsidiaries | |
| (2,194,797 | ) | |
| (25,670 | ) | |
| 568,791 | |
| Net (loss) income | |
| (2,718,517 | ) | |
| (748,542 | ) | |
| 205,911 | |
| Comprehensive (loss) income | |
$ | (2,718,517 | ) | |
$ | (748,542 | ) | |
| 205,911 | |
SCHEDULE I- STATEMENTS OF CASH FLOWS
| | |
For the years Ended
June 30, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Net cash (used in) operating activities | |
$ | (12,308,531 | ) | |
$ | (769,797 | ) | |
$ | (141,836 | ) |
| Net cash provided by (used in) investing activities | |
| 9,677,256 | | |
| (9,457,764 | ) | |
| — | |
| Net cash provided by (used in) financing
activities | |
| 5,700,000 | | |
| 13,783,523 | | |
| (46,704 | ) |
| Net increase (decrease) in cash | |
| 3,068,725 | | |
| 3,555,962 | | |
| (188,540 | ) |
| Cash at the beginning of the year | |
| 3,566,438 | | |
| 10,476 | | |
| 199,016 | |
| Cash at the end of the
year | |
$ | 6,635,163 | | |
$ | 3,566,438 | | |
$ | 10,476 | |
|