Loan Payables

3 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

LOAN PAYABLES

NOTE 10 – LOAN PAYABLES

As of September 30, 2024, the short-term and long-term loan payables consisted of nine loans which mature on dates ranging from June 24, 2025 through June 13, 2027 with interest rates ranging from 3.55% to 5.00%. No. 1 to 2 below were collateralized by Tianjuyuan’s land use right and building ownership right, and guaranteed by the cash deposit. No. 3 and 4 were guaranteed by Jinong. No.5 was collateralized by Kingtone Information’ building ownership right. No. 6 to 7 below were collateralized by Jinong’s land use right and building ownership right. No. 8 to 9 were collateralized by Kingtone Information’ building ownership right, and guaranteed by the legal representative.

No.	Payee	Loan period per agreement	Interest Rate			September 30, 2024
1	Beijing Bank -Pinggu Branch	June 28, 2024-June 27, 2025		3.95	%		1,282,410
2	Beijing Bank -Pinggu Branch	July 31, 2024-June 27, 2025		3.95	%		142,490
3	Huaxia Bank -HuaiRou Branch	June 28, 2024-June 28, 2025		3.65	%		1,424,900
4	Pinggu New Village Bank	June 28, 2024-June 27, 2025		5.00	%		997,430
5	Industrial Bank Co. Ltd	July 5, 2024-July 4, 2026		3.55	%		455,968
6	Industrial Bank Co. Ltd	August 21, 2024-June 24, 2025		3.55	%		968,932
7	Xi’an Bank Co. Ltd	September 26, 2024-September 25, 2026		3.70	%		1,424,900
8	Chang’An Bank	June 14, 2024-June 13, 2027		4.00	%		2,137,350
9	Qinnong Bank	August 5, 2024-August 4, 2026		3.80	%		2,849,800
	Total					$	11,684,180

The interest expense from loans was $104,983 and $67,554 for the three months ended September 30, 2024 and 2023, respectively.