v3.26.3
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Income Taxes [Abstract]  
Schedule of United States and Foreign Components of (Loss) Income Before Income Taxes

The United States and foreign components of (loss) income before income taxes were comprised of the following:

 

    For the years ended  
    June 30,  
    2026     2025  
Tax jurisdictions from:            
- Domestic – United States   $ (8,402,085 )   $ (22,542,326 )
- Foreign – Malaysia & others     (2,485,497 )     (485,675 )
Loss before income tax   $ (10,887,582 )   $ (23,028,001 )

 

The provision for income taxes consisted of the following:

 

    For the years ended  
    June 30,  
    2026     2025  
Tax jurisdictions from:            
- Domestic – United States   $ 200,000     $ 349,487  
- Foreign – Malaysia     -       -  
Provision for income taxes   $ 200,000     $ 349,487  
Schedule of Aggregate Deferred Tax Assets

The following table sets forth the significant components of the aggregate deferred tax assets of the Company as of:

 

    As of
June 30,
2026
    As of
June 30,
2025
 
             
Deferred tax assets:            
Net operating loss carry forwards in U.S.   $ 5,267,876     $ 3,270,173  
Net operating loss carry forwards in Malaysia     5,999,512       5,404,721  
Allowance for credit losses     958,044       261,186  
Gain from disposal of subsidiaries     (212,935 )     -  
Long-live assets impairment     4,738,058       4,098,634  
Change in fair value of derivative liabilities     (1,356,612 )     (381,553 )
Less: valuation allowance*     (15,393,943 )     (12,653,161 )
Deferred tax assets   $ -     $ -  

 

* Change in valuation allowance was amounted to $2,740,782 and $5,232,003 for the year ended June 30, 2026 and 2025, respectively.
Schedule of Effective Tax Rate The following table reconciles the United States statutory rates to the Company’s effective tax rate for the year ended June 30, 2026 in accordance with the guidance in ASU No. 2023-09:

 

    For the Years Ended
June 30,
2026
 
    $     %  
             
U.S. statutory rate     2,286,392       21.0 %
                 
Differential of Malaysia and others statutory tax rate     74,349       0.7 %
                 
Permanent difference     180,041       1.7 %
Change in valuation allowance     (2,740,782 )     (25.2 )%
Income tax expense (benefit) and effective tax rate     (200,000 )     (1.8 )%

 

The following table reconciles the United States statutory rates to the Company’s effective tax rate for the year ended June 30, 2025:

 

    For the
years ended
 
    June 30,  
    2025  
U.S. statutory rate     21.0 %
Differential of Malaysia statutory tax rate     0.1 %
Change in valuation allowance     (22.5 )%
Permanent difference     (0.1 )%
Effective tax rate     (1.5 )%
Schedule of Disaggregated by Jurisdiction The following table presented presents income taxes paid, net of refunds, disaggregated by jurisdiction for the years ended June 30, 2026 in accordance with the guidance in ASU No. 2023-09:

 

    For the
Year Ended
June 30,
 
    2026  
       
United States   $ 121,200  
Malaysia     -  
Total income taxes paid, net of refunds   $ 121,200