v3.26.1
SCHEDULE OF RELATED PARTY TRANSACTIONS (Details) - USD ($)
 12 Months Ended
Aug. 16, 2024
Jun. 30, 2025
Jun. 30, 2024
Borneo Eco Food Sdn Bhd [Member]      
Related Party Transaction [Line Items]      
Sale of property [1]   $ 4,071
SB Resorts Sdn Bhd [Member]      
Related Party Transaction [Line Items]      
Sale of property [2]   25,441
Rental expense paid [2]   3,431 1,918
Mr Jack Wong [Member]      
Related Party Transaction [Line Items]      
Sale of property [3]   857,500
Rental income [3]   30,000 60,000
Warisan Khidmat Sdn Bhd [Member]      
Related Party Transaction [Line Items]      
Professional services provided [4]   17,905
Borneo Oil Corporation Sdn [Member]      
Related Party Transaction [Line Items]      
Interest expense paid [5]   1,738 13,536
Settlement of debts by issuance of company’s common stock $ 675,888 $ 675,888 [2] [2]
[1] Borneo Oil Berhad (“BOB”) is ultimate holding company of Borneo Eco Food Sdn. Bhd., and held 13.4% of the Company’s issued and outstanding Common Stock as of June 30, 2025.
[2] SB Resorts Sdn Bhd and Borneo Oil Corporation Sdn Bhd (“BOC”) are wholly owned subsidiaries of Borneo Oil Berhad (“BOB”) (holding 13.4% of the Company’s issued and outstanding Common Stock as of June 30, 2025).
[3] Mr. Jack Wong is the Chief Executive Officer of the Company effective October 1, 2022. By Waiver and Consent of Shareholders, Mr. Jack Wong was re-elected Director of the Company, effective March 30, 2024. This represents sale of the property located at 1138 Wildhorse Parkway Drive, Chesterfield, Missouri 63005 owned by VRI, for a current market value of $857,500. A gain on disposal of $161,156 was recognized as a result of this transaction.
[4] Warisan Khidmat Sdn. Bhd. is a company whose shareholdings is entirely held by a Director of Verde Malaysia.
[5] On August 16, 2024, BOC and the Company entered into an arrangement to settle the debt of $675,888 owing to BOC by way of the issuance of 9,655,542 shares of the Company’s Common Stock. The settlement was deemed to be a capital transaction which represented a distribution to an equity holder and therefore was not charged in earnings. Refer Note 13 for further details regarding this transaction.