v3.26.3
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net loss $ (5,910,631) $ (3,314,531)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 48,871
Non-cash lease expense 56,057 26,044
Property and equipment written off 133,765
Gain on disposal of subsidiaries (157,658)
Issuance of common shares for judgment debts 188,585
Changes in assets and liabilities    
Notes receivable 23,991 (32,320)
Accounts receivable (494,295) (125,256)
Other receivables 614
Advances to suppliers (19,245,984) (1,025)
Prepaid expenses (460,674) 192,668
Other long-term assets - deposits 188,789
Due from related parties 293,861
Deferred revenue (66,747)
Accounts payable 193,637 62,704
Taxes payable 875 (1,605)
Lease liability (56,057) (236,335)
Judgment debt payable (338,586) 488,586
Class action settlement 3,800,000
Accrued expenses and other current liabilities 771,753 (350,765)
Net cash used in operating activities (21,628,987) (2,692,682)
Investing Activity    
Proceeds from disposal of subsidiaries, net of cash 108,331
Net cash provided by investing activity 108,331
Financing Activities    
Advance from a related party 601,866
Proceeds from issuance of common shares 2,100,000 1,141,000
Proceeds from third parties’ loans 3,315,100 2,066,261
Repayment of third parties’ loans (600,000)
Net cash provided by financing activities 6,016,966 2,607,261
Net decrease in cash and restricted cash (15,503,690) (85,421)
Cash and restricted cash, beginning of year 17,651,896 17,736,059
Effect of changes of foreign exchange rate on cash and restricted cash 3,024 1,258
Cash and restricted cash, end of year 2,151,230 17,651,896
Representing:    
Cash, end of year 57,275 14,533,829
Restricted cash, end of year 2,093,955 3,118,067
Total cash and restricted cash, end of year 2,151,230 17,651,896
Supplemental disclosure of cash flow information:    
Income taxes paid 30,230
Interest paid 41,914
Supplemental disclosure of non-cash information:    
Initial recognition of right-of-use asset and lease liability $ 109,820