Liquidity and Going Concern |
3 Months Ended | |||
|---|---|---|---|---|
Sep. 30, 2026 | ||||
| Liquidity and Going Concern [Abstract] | ||||
| LIQUIDITY AND GOING CONCERN |
The accompanying unaudited condensed 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 entered into a definitive agreement to acquire Acellent. Following the acquisition, the Company commenced generating revenue from technology-related activities utilizing the software platform.
For the three months ended September 30, 2026, the Company reported a net loss of $989,054 and net cash used in operating activities of $171,464. As of September 30, 2026, the Company had cash and cash equivalents of $213,995 and working capital of $11,276,618. Current assets mainly included $12,329,466 due from former subsidiaries, net of an allowance for expected credit losses of $2,702,777. The timing and amount of collections on these receivables are significant to the Company’s liquidity.
The Company’s ability to meet its future liquidity requirements will depend on, among other factors, its ability to collect outstanding receivables, 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, collections of receivables, cash flows generated from operations and, if necessary, additional equity or other financing arrangements.
Based on its current operating plans, available financial resources, anticipated collections of receivables 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 unaudited condensed consolidated financial statements are issued. Actual collections may differ from management’s expectations, and additional financing may not be available on acceptable terms, or at all. |