Note 8 - Other Assets

6 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Other Assets Disclosure [Text Block]

8. OTHER ASSETS

Other assets consisted of the following:

	Dec. 31,			June 30,
	2024			2024
	(Unaudited)
Deposits for rental and utilities and others	$	122		$	234
Downpayment for Purchase of Investment Properties*		1,580			1,580
Less: Provision for Impairment		(1,580	)		(1,580	)
Currency translation effect		7			(2	)
Total	$	129		$	232

*Down payment for purchase of investment properties included downpayment relating to shop lots in Singapore Themed Resort Project in Chongqing, China. The shop lots are to be delivered to TTCQ upon completion of the construction. The initial targeted date of completion was in Fiscal 2017. However, progress has stalled because the developer is currently reorganizing assets and renegotiating with the creditors to complete the project.

During the fourth quarter of Fiscal 2021, the Company accrued an impairment charge of $1,580 related to the doubtful recovery of the down payment on property in the Singapore Themed Resort Project in Chongqing, China. The Company elected to take this non-cash impairment charge due to increased uncertainties regarding the project’s viability, given the developers’ weakening financial condition as well as uncertainties arising from the negative real-estate environment in China, implementation of control measures on real-estate lending in China and its relevant government policies.