v3.26.3
BUSINESS SEGMENT INFORMATION
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION

NOTE 4 - BUSINESS SEGMENT INFORMATION

 

The Company applies the provisions of ASC Topic 280, Segment Reporting, which requires disclosure of information about operating segments based on how management organizes the Company’s business activities for making operating decisions and assessing performance. The Company’s Chief Executive Officer serves as the CODM.

 

The CODM reviews consolidated financial information, including revenue, operating expenses and net income (loss), when evaluating performance and allocating resources. The CODM uses net income (loss) as the primary measure of performance and uses revenue as the primary measure for allocating resources.

 

The Company operates as a single operating and reportable segment under ASC Topic 280 and the CODM reviews financial information on a consolidated basis, the significant expense categories and other segment items regularly provided to and reviewed by the CODM are presented below.

 

  

Consolidated

June 30, 2026

  

Consolidated

June 30, 2025

 
         
Revenue  $467,788   $133,202 
Cost of revenue   299,128    51,789 
Gross profit   168,660    81,413 
Operating expenses:          
Depreciation and amortization   (331,833)   (351,797)
Impairment on property, plant and equipment   -    (137,632)
Inventories written off   (57,328)   - 
Impairment on assets held for sale   (4,000)   (5,866)
Payroll expenses   (1,265,110)   (2,615,348)
Consultant fees   (842,839)   (1,425,097)
Research and development expense   (187,500)   (472,090)
Legal and professional fees   (629,795)   (453,355)
Other segment expenses   (649,645)   (642,249)
Loss from operations   (3,799,390)   (6,022,021)
Interest expense   -    (102,703)
Rental income   -    38,200 
Unrealized foreign exchange gains   218,514    582,034 
Gain from insurance claim   -    481,513 
Gain on disposal of property, plant and equipment   -    164,624 
Gain on forgiveness of debts   163,281    - 
Interest income   28,568    70,650 
Other income   7,000    4,690 
Loss before income tax   (3,382,027)   (4,783,013)
Income tax   -    - 
Net loss  $(3,382,027)  $(4,783,013)

 

 

VERDE RESOURCES, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

 

Substantially all of the Company’s revenue is generated in the United States. Long-lived assets are located primarily in the United States and in its subsidiaries in Malaysia, Singapore and the British Virgin Islands, with the Company’s key intellectual property held by its British Virgin Islands subsidiary.