v3.26.1
Contract Liabilities
9 Months Ended
Mar. 31, 2026
Contract Liabilities [Abstract]  
Contract liabilities

Note 11 — Contract liabilities

 

Contract liabilities consist of customer deposits, which are recorded on the consolidated balance sheets when the Company has received consideration, or has the right to receive consideration, in advance of transferring the performance obligations under the contract to the customer.

 

The following table presents the Company’s contract liabilities balances and changes therein:

 

    Three Months Ended
March 31
    Nine Months Ended
March 31
 
    2026     2025     2026     2025  
    (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)  
Balance, beginning of the period   $ 23,525     $ 784,157     $ 378     $ 649,450  
Add: net increase in current period contract liabilities     123,500       211,072       142,852       211,072  
Less: revenue recognized from beginning contract liabilities     (4,173 )     (784,157 )     (378 )     (649,450 )
Total contract liabilities   $ 142,852     $ 211,072     $ 142,852     $ 211,072