v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2026
Mar. 31, 2025
Income Statement [Abstract]        
REVENUES, NET $ 8,666,261 $ 11,392,078 $ 45,606,134 $ 51,984,361
COST OF GOODS SOLD 10,116,838 10,728,765 42,095,364 48,732,206
GROSS (LOSS) PROFIT (1,450,577) 663,313 3,510,770 3,252,155
OPERATING EXPENSES:        
Selling expenses 964,440 1,551,369 3,008,663 4,393,150
General and administrative expenses 2,928,172 1,421,299 8,376,858 4,361,716
Research and development - related party 22,792 91,168
Research and development 1,085,588 826,532 1,585,228 1,550,833
Provision of credit losses 1,681,606 401,988 1,765,169 464,988
Impairments of right-of-use assets 25,855,427 25,855,427
Total Operating Expenses 32,515,233 4,223,980 40,591,345 10,861,855
LOSS FROM OPERATIONS (33,965,810) (3,560,667) (37,080,575) (7,609,700)
OTHER (EXPENSE) INCOME        
Interest expense (2,304,183) (1,553,993) (6,319,324) (3,005,186)
Other expense, net (2,118) (21,450) (257)
Change in fair value of earnout liabilities 1,032,267 5,687,989
Total Other (Expense) Income, net (2,304,183) (523,844) (6,340,774) 2,682,546
LOSS BFORE INCOME TAXES (36,269,993) (4,084,511) (43,421,349) (4,927,154)
PROVISION FOR INCOME TAXES
NET LOSS (36,269,993) (4,084,511) (43,421,349) (4,927,154)
OTHER COMPREHENSIVE LOSS        
Foreign currency translation adjustment (3,318) (412) (12,109) (412)
COMPREHENSIVE LOSS $ (36,273,311) $ (4,084,923) $ (43,433,458) $ (4,927,566)
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES        
Basic (in Shares) [1] 6,989,278 7,050,260 6,886,673 5,937,756 [2]
Diluted (in Shares) [1] 6,989,278 7,050,260 6,886,673 5,937,756 [2]
LOSS PER SHARE        
Basic (in Dollars per share) $ (5.19) $ (0.58) $ (6.31) $ (0.83)
Diluted (in Dollars per share) $ (5.19) $ (0.58) $ (6.31) $ (0.83)
[1] There were no shares that have a dilutive effect for the three and nine months ended March 31, 2026 and 2025.
[2] Giving retroactive effect to reverse recapitalization effected on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4.