| Schedule of Accounts Payable, Accrued Expenses and Other Current Liabilities |
Accounts
payable, accrued expenses and other current liabilities consisted of the following:
| | |
As
of
January 31, | | |
As
of
July 31, | |
| | |
2026 | | |
2025 | |
| Accounts payable, accrued
expenses and other current liabilities: | |
| | |
| |
| | |
| | |
| |
| Service fee payable
to a consulting firm (a) | |
$ | 1,040,000 | | |
$ | - | |
| Payable to Li Meng (b) | |
$ | 328,747 | | |
$ | 328,747 | |
| Accrued payroll | |
| 299,566 | | |
| 164,585 | |
| Accrued rental | |
| 11,000 | | |
| 5,000 | |
| Others | |
| 7,627 | | |
| 7,627 | |
| | |
$ | 1,686,940 | | |
$ | 505,959 | |
| Current
portion of long-term payables: | |
| | | |
| | |
| Accrued
litigation fee (c) | |
| - | | |
| 250,000 | |
| (a) | On
April 20, 2025, the Company entered into a framework agreement with a consulting firm. Pursuant to the agreement, the consulting firm
provides consulting and professional services to the Company. Fees are settled based on delivery milestones stipulated in the underlying
contracts with customers and recognized according to the actual project completion progress. As of January 31, 2026, the Company
has accrued service fee payable of $1,040,000. |
| (b) | It
represents a refundable advance from Mr. Li Meng for a financial advisory service that was subsequently cancelled. It was recorded in
accounts payable, accrued expenses and other current liabilities as of January 31, 2026 and July 31, 2025. |
| (c) | On
September 24, 2024, the Company and Boustead Securities, LLC (“Boustead”) entered into a settlement agreement, pursuant to
which the Company would compensate Boustead in the amount of $1,000,000 (Note 15). The compensation is payable in three instalments,
with first instalment of $250,000 payable with execution of settlement agreement, the second instalment of $500,000 payable before March
1, 2025, and the final instalment of $250,000 payable before December 31, 2025. The Company made all payments as schedule and the obligation
was fully settled as of January 31, 2026. |
|