v3.26.3
Goodwill
 12 Months Ended
Jun. 30, 2026
Goodwill [Abstract]  
GOODWILL

NOTE 7 – GOODWILL

 

The Company had two reporting units, consisting of IT services and Academic education services as of June 30, 2026 and 2025.

 

The changes in the carrying amount of goodwill for each reporting unit for the years ended June 30, 2026 and 2025 were as follows:

 

    IT services     Academic education services     Total  
Balance as of June 30, 2024     126,370       1,347,529       1,473,899  
Impairment     (129,270 )     -       (129,270 )
Foreign currency translation adjustment     2,900       88,253       91,153  
Balance as of June 30, 2025     -       1,435,782       1,435,782  
Impairment     -       (1,435,782 )     (1,435,782 )
Balance as of June 30, 2026     -       -       -  

 

IT services reporting unit

 

For the year ended June 30, 2025, the Company bypassed the qualitative assessment and performed quantitative assessment for the goodwill allocated to IT services reporting unit using the market approach. The Company assessed and determined that the fair value of the IT services reporting unit was less than their carrying amount and therefore, impairment loss of $129,270 was recognized for the year ended June 30, 2025.

 

Academic education services reporting unit

 

For the year ended June 30, 2026, the Company bypassed the qualitative assessment and performed quantitative assessment for the goodwill allocated to Academic education services reporting unit using the discounted cash flow approach. The Company assessed and determined that the fair value of the Academic education services reporting unit was less than their carrying amount and therefore, impairment loss of $1,435,782 was recognized for the year ended June 30, 2026.