v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net loss $ (5,649,701) $ (2,352,361)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 48,871
Non-cash lease expense 41,101 355,768
Allowance for credit losses 370,479
Loss on disposal of property and equipment 133,769
(Gain) loss on disposal of subsidiaries (47,359) 1,030
Reversal of impairment for right-of-use assets (354,108)
Issuance of common shares for judgment debts 188,585
Changes in assets and liabilities    
Notes receivable 4,446
Accounts receivable 252,725 (92,631)
Other receivables (426,492) (575,823)
Advances to suppliers (19,392,842) 257,732
Prepaid expenses 5,091 231,707
Due to related parties 162,907
Other long-term assets - deposits 149,411
Deferred revenue 45,273 (567)
Accounts payable (316,428) 338,659
Taxes payable 197 1,533
Lease liabilities (41,101) (211,951)
Judgment debt payable (338,586)
Class action settlement 4,000,000
Accrued expenses and other current liabilities 519,616 1,188,209
Net cash used in operating activities (21,155,475) (347,366)
Investing Activities    
Proceeds from disposal of subsidiaries, net of cash 108,331
Net cash provided by investing activities 108,331
Financing Activities    
Advance from a related party 519,922
Proceeds from issuance of common shares 2,100,000 1,141,000
Proceeds from third parties loans 3,005,100
Net cash provided by financing activities 5,625,022 1,141,000
Net (decrease) increase in cash and restricted cash (15,422,122) 793,634
Cash and restricted cash, beginning of period 17,651,896 17,736,059
Effect of changes of foreign exchange rate on cash and restricted cash 3,890 (607,542)
Cash and restricted cash, end of period 2,233,664 17,922,151
Representing:    
Cash, end of period 136,439 14,873,924
Restricted cash, end of period 2,097,225 3,048,227
Total cash and restricted cash, end of period 2,233,664 17,922,151
Supplemental information    
Income taxes paid
Interest paid