| LONG TERM LOAN |
NOTE 6 – LONG TERM LOAN
As of March 31, 2026 and June 30, 2025, long
term loan principal both amounted to $1,323,138. The loan has an annual interest rate of 20%, except that the received long term loan
on September 9, 2022 has an annual interest rate of 16%. The principal and interest are due in five years. Interest expense incurred
for the nine months ended March 31, 2026 and 2025 amounted to $198,652 and $176,459, respectively.
As of March 31, 2026 and June 30, 2025, long term loan consisted of
the following:
| | | | | | | | | As of March 31, 2026 | | | As of June 30, 2025 | | | | | | | | | | | Accrued | | | | | | Accrued | | | | | | | | Shares | | | | | | Interest | | | | | | Interest | | | | | | | | pledged | | | Principal | | | Liability | | | Balance | | | Liability | | | Balance | | | Received long term loan on April 27, 2021 | | | 10,000,000 | | | $ | 200,000 | | | $ | 197,151 | | | $ | 397,151 | | | $ | 167,123 | | | $ | 367,123 | | | Received long term loan on June 3, 2021 | | | 3,050,000 | | | | 290,000 | | | | 279,989 | | | | 569,989 | | | | 236,449 | | | | 526,449 | | | Received long term loan on June 4, 2021 | | | 500,000 | | | | 50,000 | | | | 48,274 | | | | 98,274 | | | | 40,767 | | | | 90,767 | | | Received long term loan on June 23, 2021 | | | 300,000 | | | | 30,000 | | | | 28,636 | | | | 58,636 | | | | 24,132 | | | | 54,132 | | | Received long term loan on July 12, 2021 | | | 80,000 | | | | 10,000 | | | | 9,441 | | | | 19,441 | | | | 7,940 | | | | 17,940 | | | Received long term loan on September 1, 2021 | | | 1,540,000 | | | | 60,000 | | | | 54,970 | | | | 114,970 | | | | 45,962 | | | | 105,962 | | | Received long term loan on September 22, 2021 | | | 500,000 | | | | 50,000 | | | | 45,233 | | | | 95,233 | | | | 37,726 | | | | 87,726 | | | Received long term loan on September 27, 2021 | | | 500,000 | | | | 50,000 | | | | 45,096 | | | | 95,096 | | | | 37,589 | | | | 87,589 | | | Received long term loan on October 29, 2021 | | | 161,840 | | | | 12,138 | | | | 10,735 | | | | 22,873 | | | | 8,912 | | | | 21,050 | | | Received long term loan on November 9, 2021 | | | 500,000 | | | | 50,000 | | | | 43,918 | | | | 93,918 | | | | 36,411 | | | | 86,411 | | | Received long term loan on November 16, 2021 | | | 1,400,000 | | | | 140,000 | | | | 122,433 | | | | 262,433 | | | | 101,414 | | | | 241,414 | | | Received long term loan on November 18, 2021 | | | 500,000 | | | | 50,000 | | | | 43,671 | | | | 93,671 | | | | 36,164 | | | | 86,164 | | | Received long term loan on November 29, 2021 | | | 200,000 | | | | 20,000 | | | | 17,348 | | | | 37,348 | | | | 14,345 | | | | 34,345 | | | Received long term loan on November 30, 2021 | | | 100,000 | | | | 10,000 | | | | 8,668 | | | | 18,668 | | | | 7,167 | | | | 17,167 | | | Received long term loan on October 13, 2022 | | | 2,625,000 | | | | 21,000 | | | | 14,556 | | | | 35,556 | | | | 11,403 | | | | 32,403 | | | Received long term loan on March 10, 2023 | | | 1,000,000 | | | | 10,000 | | | | 6,120 | | | | 16,120 | | | | 4,620 | | | | 14,620 | | | Received long term loan on March 14, 2023 | | | 1,000,000 | | | | 10,000 | | | | 6,098 | | | | 16,098 | | | | 4,597 | | | | 14,597 | | | Received long term loan on March 16, 2023 | | | 1,000,000 | | | | 10,000 | | | | 6,088 | | | | 16,088 | | | | 4,586 | | | | 14,586 | | | Received long term loan on April 17, 2023 | | | 6,000,000 | | | | 30,000 | | | | 17,737 | | | | 47,737 | | | | 13,233 | | | | 43,233 | | | Received long term loan on May 9, 2023 | | | 1,000,000 | | | | 10,000 | | | | 5,792 | | | | 15,792 | | | | 4,290 | | | | 14,290 | | | Received long term loan on June 24, 2021 | | | 600,000 | | | | 60,000 | | | | 59,244 | | | | 119,244 | | | | 50,236 | | | | 110,236 | | | Received long term loan on March 19, 2025 | | | 5,000,000 | | | | 50,000 | | | | 10,329 | | | | 60,329 | | | | 2,822 | | | | 52,822 | | | Received long term loan on April 9, 2025 | | | 6,000,000 | | | | 50,000 | | | | 9,753 | | | | 59,753 | | | | 2,246 | | | | 52,246 | | | Received long term loan on May 8, 2025 | | | 6,000,000 | | | | 50,000 | | | | 8,931 | | | | 58,931 | | | | 1,425 | | | | 51,425 | | | Total | | | 49,556,840 | | | $ | 1,323,138 | | | $ | 1,100,211 | | | $ | 2,423,349 | | | $ | 901,559 | | | $ | 2,224,697 | | The principal balance, the scheduled principal
payments, the schedule interest payments, and the weighted average interest rates of the long-term loan future maturities are as follows:
| Year Ending March 31 | |
Remaining Principal | | |
Scheduled Principal Payments | | |
Scheduled Interest Payments | | |
Weighted Average Interest Rate | |
| 2027 | |
| 171,000 | | |
| 1,152,138 | | |
| 103,355 | | |
| 20.19 | % |
| 2028 | |
| 150,000 | | |
| 21,000 | | |
| 32,263 | | |
| 20.02 | % |
| 2029 | |
| 150,000 | | |
| - | | |
| 30,000 | | |
| 20.00 | % |
| 2030 | |
| 100,000 | | |
| 50,000 | | |
| 29,750 | | |
| 20.09 | % |
| 2031 | |
| - | | |
| 100,000 | | |
| 1,222 | | |
| 20.08 | % |
|