XML 48 R22.htm IDEA: XBRL DOCUMENT v3.25.3
Long-Term Loan
12 Months Ended
Jun. 30, 2025
Long-Term Loan [Abstract]  
Long-term loan

Note 15 — Long-term loan

 

In February 2023, the Company purchased and financed a vehicle, for which the lender put a lien on the title and will be taken as collateral in the situation if the Company is unable to make repayment and default on the loan, with a six-year loan for a total of approximately $137,000. As of June 30, 2025, the carrying value of the asset that has been pledged as a collateral is $65,772. The monthly payments are $2,694 from March 2023 to February 2029, with an interest rate of 11.85% per annum.

 

The obligation is payable as follows:

 

Twelve months ended June 30,  Amount 
2026  $23,743 
2027   24,826 
2028   27,984 
Thereafter   20,608 
Total long-term debt payment   97,161 
Current portion of long-term debt   (23,743)
Long-term debt – non-current portion  $73,418 

 

Interest expense for the years ended June 30, 2025 and 2024 for the above loan amounted to $12,784 and $14,989, respectively.