v3.26.3
Prepaid Expenses and Other Current Assets, Net
 3 Months Ended
Sep. 30, 2026
Prepaid Expenses and Other Current Assets, Net [Abstract]  
PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET
6. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

 

Prepaid expenses and other current assets consisted of the following:

  

    As of
September 30,
2026		     As of
June 30,
2026		  
    US$     US$  
Other receivables     394,612       490,000  
Amount due from former subsidiaries     15,032,243       15,032,243  
Advances to suppliers     —       2,000  
Total prepaid expenses and other current assets     15,426,855       15,524,243  
Less: Allowance for expected credit losses     (2,772,902 )     (2,160,266 )
Total prepaid expenses and other current assets, net     12,653,953       13,363,977  

 

Amounts due from former subsidiaries. Following the dispositions of its former subsidiaries, amounts previously recorded as intercompany receivables became receivables from the former subsidiaries. As of September 30, 2026 and June 30, 2026, the gross amounts due from former subsidiaries were $15,032,243 at both dates.

 

The total allowance for expected credit losses on amounts due from former subsidiaries was $2,702,777 and $2,072,417 as of September 30, 2026 and June 30, 2026, respectively. The total allowance for expected credit losses on other receivables was $70,125 and $87,849 as of September 30, 2026 and June 30, 2026, respectively.

  

Movement of allowance for expected credit losses was shown below:

 

    As of
September 30,
2026		     As of
June 30,
2026		  
    US$     US$  
Beginning balance     2,160,266       —  
Provision for allowance for expected credit losses, net     612,636       2,918,909  
Write-offs     —       (758,643 )
Ending balance     2,772,902       2,160,266