NOTE
5 - PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET
Prepayments
consisted of the following:
SCHEDULE OF PREPAYMENTS
| | |
June 30, | | |
September 30, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Prepaid rent and building management and utilities | |
$ | 1,334 | | |
$ | 2,837 | |
| Prepaid supplies(1) | |
| 11,772 | | |
| 12,579 | |
| Prepaid professional services(2) | |
| 442 | | |
| 5,029 | |
| VAT | |
| 789 | | |
| - | |
| Advance to others | |
| 339,217 | | |
| 329,382 | |
| Total Prepaid expenses and other current assets | |
| 353,554 | | |
| 349,827 | |
| Less: Allowance for bad debt | |
| (331,609 | ) | |
| (316,056 | ) |
| Total Prepaid expenses and other current assets, net | |
$ | 21,945 | | |
$ | 33,771 | |
| (1) |
The
prepayment will be recognized in cost of goods sold in its consolidated statement of operations and comprehensive loss when the corresponding
contract liabilities is recognized. |
| |
|
| (2) |
As
of September 30, 2025, the ending balance of prepaid professional services included $5,029 of advertising and promotion fees for
our PRC entities. The advertising and promotion fees were recognized in the Company’s consolidated statement of operations
and comprehensive loss when the related services were performed. |
These amounts are expected to be recoverable within twelve (12) months.
|