Related Party Transactions

3 Months Ended

Oct. 31, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 10 – 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, 2024 and 2023, or recorded balances as of October 31, 2024 and July 31, 2024:

Name	Relationship with the Company
Mr. Jun Liu	The Chief Executive Officer of 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
Zachary Group LLC (“Zachary Group”)	Wholly owned by Mr. Jun Liu

2) Transactions with related parties

	October 31, 2024		July 31, 2024
	(unaudited)
Provision of consulting services to related parties
Asia International Securities Exchange Co., Ltd.	$	-	$	200,000
	$	-	$	200,000

In June 2022, the Company entered into an office lease agreement with Zachary Group. Pursuant to the agreement, the Company would lease the office space for a lease term of 5 years, matured in May 2027. The monthly rental fee was $20,000, payable on a monthly basis. On March 1, 2024, the Company and Zachary Group modified the lease agreement to reduce the lease term and office space. The modified agreement was for a lease term of 2 years through February 2026, and monthly rental fee was $3,000, payable on a monthly basis. For the three months ended October 31, 2024 and 2023, the Company recorded rental expenses of $9,000 and $60,000, respectively.

For the three months ended October 31, 2024, the Company did not collected or repaid loans to 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, 2023, the Company collected loans of $20,000 from Huaya.

3) Balances with related parties

As of October 31, 2024 and July 31, 2024, the balances due from related parties were as follows:

	October 31, 2024		July 31, 2024
	(unaudited)
Accounts receivable:
Asia International Securities Exchange Co., Ltd.	$	200,000	$	200,000
	$	200,000	$	200,000
Other receivable:
Asia International Securities Exchange Co., Ltd. (a)	$	900,000	$	900,000
	$	900,000	$	900,000

a) The balance due from Asia International Securities Exchange Co., Ltd. represented a prepayment of $900,000 for security purchase. However the transaction was subsequently canceled. The Company fully collect the prepayments as of the date of this report.