Related Party Transactions

3 Months Ended

Oct. 31, 2023

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 11 – RELATED PARTY TRANSACTIONS

1) Nature of relationships with related parties

The table below sets forth the major related parties and their relationships with the Company, with which the Company entered into transactions during the three months ended October 31, 2023 and 2022, or recorded balances as of October 31, 2023 and July 31, 2023:

Name	Relationship with the Company
Huaya*	Wholly owned by Mr. Pishan Chi, the former Chief Executive Officer of the Company
Asia International Securities Exchange Co., Ltd.	Wholly owned by Mr. Jun Liu, the Chief Executive Officer of the Company

2) Transactions with related parties

For the three months ended October 31, 2023, the Company repaid loans of $17,710 to Asia International Securities Exchange Co., Ltd. The loans were interest free and was repayable on demand.

For the three months ended October 31, 2022, the Company make a loan   of $100,000 to Huaya to support its operations. The loan was interest free and was repayable on demand. For the three months ended October 31, 2023, the Company collected loans of $20,000 to Huaya.

3) Balances with related parties

As of October 1, 2023 and July 31, 2023, the balances due from related parties were as follows:

	October 31, 2023		July 31, 2023
	(unaudited)
Accounts receivable*:
Asia International Securities Exchange Co., Ltd.	$	-	$	600,000
	$	-	$	600,000
Other receivable*:
Huaya	$	20,539	$	40,539
	$	20,539	$	40,539

* As of July 31, 2023, the balance due from related parties were repayable on demand. The Company expected to collect the outstanding receivables from related parties before July 31, 2024.

(a) During the year ended July 31, 2023, the Company provided full provision of $762,000 against accounts receivable due from Huaya because the management assessed the collection was remote.

As of October 1, 2023 and July 31, 2023, the balances due to related parties were as follows:

	October 31, 2023		July 31, 2023
	(unaudited)
Other payables:
Asia International Securities Exchange Co., Ltd.	$	712,258	$	729,968
	$	712,258	$	729,968