ASSETS HELD FOR SALE

12 Months Ended

Jun. 30, 2025

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE

NOTE 9 – ASSETS HELD FOR SALE

At June 30, 2025 and 2024, assets held for sale are as follows:

	As of June 30,
	2025			2024
Plant and machinery	$	-		$	213,494
Motor vehicles		9,866			392,549
		9,866			606,043
Less: impairment		(5,866	)		-
	$	4,000		$	606,043

The Company, through Verde Estates LLC, decided to sell its property located in La Belle, Missouri (the “Property”) and entered into discussions with a buyer to sell the said Property prior to December 31, 2024. The Property has been presented separately in the balance sheet as assets held for sale as at December 31, 2024. On January 17, 2025, the Company entered into a Purchase and Sale Agreement (the “Agreement”) with TAFleer Properties LLC, a Missouri limited liability company (the “Buyer”). Under the terms of the Agreement, the proceeds for the sale of the Property were USD 350,000 paid in full by the Buyer at closing. The disposition of the Property was completed in January 2025.

On June 27, 2024, the Company, through its wholly-owned subsidiary Verde Renewables, Inc. (“VRI”), a company incorporated in the State of Missouri, U.S.A, entered into a Consignment Contract with ED’s Machinery LLC (“EDM”) to dispose plant and machinery and motor vehicles with a carrying amount of $606,043. The disposal was pending completion as at June 30, 2024, and thus the assets had been presented separately in the balance sheets as assets held for sale. The disposal of assets with carrying values totaling $596,176 was completed as of December 31, 2024. The remaining asset comprises a vehicle that will be sold for its parts, and accordingly, an impairment of $5,866 was recognized during the period.

Plant and machinery and motor vehicles with carrying values of $0 and $0 at June 30, 2025 ($168,994 and $350,217 as of June 30, 2024), were acquired under financing arrangements.

Impairment loss on assets held for sale for the years ended June 30, 2025 and 2024 were $5,866 and $0 respectively.