v3.26.1
Goodwill
 6 Months Ended
Dec. 31, 2025
Goodwill [Abstract]  
GOODWILL

11. GOODWILL

 

As of December 31, 2025 and June 30, 2025, goodwill consisted of the following:

 

   As of 
   December 31,
2025		   June 30,
2025		 
Goodwill on acquisition of Hand in Hand   2,092,412   $2,042,611 
Goodwill   2,092,412   $2,042,611 

 

On February 10, 2025, the Company acquired 99% of Xiamen Hand in Hand Network Technology Co., Ltd. (“Hand in Hand”), a company incorporated in China and principally engaged in Online and offline advertising marketing and exhibitions. Pursuant to the acquisition agreement, the Company issue to Ling Yang, former shareholder of Hand in Hand, 2,000,000 Class A ordinary shares of the Company with an aggregate value of $2,000,000. As a result of the transaction, the Company obtained control over Hand in Hand and accounted for the acquisition as a business combination under ASC 805, Business Combinations.

Following table illustrates the FV of the assets and liabilities of Hand in Hand as of the acquisition date and the goodwill on acquisition:

 

   As of
acquisition
date		 
Fair value of identical assets and liabilities as of acquisition date     
Cash  $757 
Receivables   8,392 
Payables   (6,881)
Net assets at acquisition   2,268 
less:     
Foreign currency exchange loss   (24,677)
Less:     
Non-controlling interest   (20,202)
Total consideration paid for acquisition   (2,000,000)
      
Goodwill as of June 30, 2025  $2,042,611 
Foreign currency exchange effect   49,801 
Goodwill as of December 31, 2025   2,092,412 

 

On September 8, 2025, the Company further acquired 1% equity interest of Hand in Hand to make Hand in Hand a 100% owned subsidiary of the Company. As the acquisition cost for the 1% equity interest is less than the net equity value of Hand in hand, it resulted a premium on acquisition of minority interest of $24,325, which was recorded in additional paid in capital of the consolidated financial statements of the Company.