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Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties - USD ($)
Sep. 30, 2022
Jun. 30, 2022
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Less: allowance for credit losses $ (2,348,120) $ (2,449,700)
Total
Zhejiang Jinbang Fuel Energy Co., Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Due from related parties [1] 391,100 415,412
Shanghai Baoyin Industrial Co., Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Due from related parties [2] 1,229,570 1,306,004
LSM Trading Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Due from related parties [3] 570,000 570,000
Rich Trading Co. Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Due from related parties [4] 103,424 103,424
Cao Lei [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related parties [Line Items]    
Due from related parties [5] $ 54,026 $ 54,860
[1] As of September 30,2022 and June 30, 2022, the Company advanced approximately $0.4 million to Zhejiang Jinbang Fuel Energy Co., Ltd (“Zhejiang Jinbang”) which is owned by Mr. Wang Qinggang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd. The advance is non-interest bearing and due on demand.. In December 2022, the Company further advanced approximately $0.4 million to Zhejiang Jinbang. The Company provided full credit losses for the balance of the receivable as of September 30, 2022 and June 30, 2022.
[2] As of September 30,2022, the Company advanced approximately $1.2 million to Shanghai Baoyin Industrial Co., Ltd. which is 30% owned by Wang Qinggang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd. The advance is non-interest bearing and due on demand. The Company provided full credit losses for the balance of the receivable.
[3] The Company advanced $570,000 to LSM Trading Ltd, which is 40% owned by the Company for the year ended June 30, 2022. The advance is non-interest bearing and due on demand. The Company provided full credit losses for the balance of the receivable.
[4] On November 16, 2021, the Company entered into a project cooperation agreement with Rich Trading Co. Ltd USA (“Rich Trading”) for trading of computer equipment. Rich Trading was controlled by now-terminated members of the Company’s management and was, at the time, an undisclosed related party transaction. According to the agreement, the Company is to invest $4.5 million in the trading business operates by Rich Trading and the Company will be entitled to 90% of profit generated by the trading business. The Company advanced $3,303,424 for this project. Due to impact of COVID-19 which affected the supply chain, the Company decided to terminate the project. $3,200,000 has been return to the Company. The Company provided allowance of $103,424 for the year ended June 30, 2022.
[5] The amount represents business advance to Mr. Cao Lei, former Chairman of the Board. The Company provided full credit losses for the balance of the receivable.