Accounts Payable and Accrued Expenses

12 Months Ended

Jun. 30, 2024

Accounts Payable and Accrued Expenses [Abstract]

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

(9) ACCOUNTS PAYABLE AND ACCRUED EXPENSES

As of June 30, 2024 and 2023, accounts payable and accrued expenses totaled $1,018,838 and $946,069, respectively, which consists of accounts payable of $1,000,077 and $932,723, and other accrued expenses of $18,761 and $13,346, respectively.

The Company received $10,000 in connection with the LOI with Bright New Vision Inc. entered into on July 7, 2023 (Note 1). This amount was recorded as an accrued expense upon receipt and represents the initial financial commitment for anticipated expenses related to the proposed reverse merger transaction. Since the proposed reverse merger did not proceed, the $10,000 was subsequently recorded as a credit to general and administrative expenses on June 30, 2024.