Income Taxes (Tables)
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12 Months Ended |
Jun. 30, 2026 |
| Income Taxes [Abstract] |
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| 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 | |
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| 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. |
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| 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 | )% |
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| 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 | |
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