Liquidity and Going Concern |
12 Months Ended | |||
|---|---|---|---|---|
Jun. 30, 2026 | ||||
| Liquidity and Going Concern [Abstract] | ||||
| LIQUIDITY AND GOING CONCERN |
The accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates the continuation of the Company as a going concern and the realization of assets and settlement of liabilities in the ordinary course of business.
During the fiscal year ended June 30, 2026, the Company completed the disposition of its historical biotechnology operations and transitioned its operations toward artificial intelligence and financial algorithmic software-related activities. In April 2026, the Company acquired Acellent and commenced generating revenue from technology-related activities utilizing the software platform.
For the year ended June 30, 2026, although the Company reported net income of $6,677,077, this was primarily attributable to a gain of $14,015,417 generated from the disposal of Advanced Biomed HK Limited and its subsidiary and Advanced Biomed Inc. (Taiwan) during the year. In addition, the Company had net cash outflows of $1,946,943 from operating activities for the year ended June 30, 2026. To improve its liquidity, the Company completed a private placement in January 2026, raising gross proceeds of $248,000. Additionally, the Company implemented a 1-for-20 reverse stock split in February 2026 to maintain its listing status and improve its capital structure.
The Company’s ability to meet its future liquidity requirements will depend on, among other factors, its ability to generate cash flows from its continuing operations and, if necessary, obtain additional financing. Management intends to fund the Company’s operations through available cash resources, cash flows generated from operations and, if necessary, additional equity or other financing arrangements.
Based on its current operating plans, available financial resources and expected cash requirements, management believes that the Company has sufficient liquidity to meet its obligations for at least twelve months from the date the consolidated financial statements are issued. |