Long-Term Loan |
12 Months Ended | |||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||||||||||||||||||||||
| Long-Term Loan [Abstract] | ||||||||||||||||||||||||||||||||||||
| Long-term loan | Note 12 — Long-term loan
In February 2023, the Company purchased and financed a vehicle, for which the lender put a lien on the title and will be taken as collateral in the situation if the Company is unable to make repayment and default on the loan, with a six-year loan for a total of approximately $137,000. As of June 30, 2026, the carrying value of the asset that has been pledged as a collateral is $40,312. The monthly payments are $2,694 from March 2023 to February 2029, with an interest rate of 11.85% per annum.
The obligation is payable as follows:
Interest expense for the years ended June 30, 2026 and 2025 for the above loan amounted to $10,298 and $12,784, respectively. |
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