Investments in Trading Securities

3 Months Ended

Oct. 31, 2024

Investments in Trading Securities [Abstract]

INVESTMENTS IN TRADING SECURITIES

NOTE 6 – INVESTMENTS IN TRADING SECURITIES

As of October 31, 2024 and July 31, 2024, the balance of investments in trading securities represented (i) certain equity securities of listed companies purchased through various open market transactions by the Company during the relevant periods. The investments are initially recorded at cost, and subsequently measured at fair value with the changes in fair value recorded in other income (expenses), net in the condensed consolidated statement of operations and comprehensive loss, and (ii) 7,850,000 ordinary shares of a listed company granted by a shareholder as capital contribution. The ordinary shares were granted on October 28, 2024 and were subject to 1933Act restrictions until March 2025. As of October 31, 2024, the fair value of the 7,850,000 ordinary shares was $3,730,320. The Company initially accounted for the share as “investment in trading securities” at fair value by reference to the prevailing market price on shares grant date, and subsequently measure the share awards at fair value.

For the three months ended October 31, 2024 and 2023, the Company recognized an increase in fair value of investments of $148,158 and a decrease in fair value of $109,404, respectively.