Arem Pacific Corp

CIK:0001435812|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 77,278	$ 95,111	$ 239,488	$ 262,768
Operating expenses
Payroll and employee related expense	33,416	24,485	87,602	70,419
Amortization on right-of-use assets	16,667	15,291	47,817	45,249
General and administrative expenses	35,495	169,268	76,087	199,706
Total operating expenses	85,578	209,044	211,506	315,374
(Loss)/income from operations	(8,300)	(113,933)	27,982	(52,606)
Interest expenses	(1,521)	(2,127)	(4,942)	(6,675)
Other income				7,722
Interest income	8	7	792	95
Total other (expenses)/income	(1,513)	(2,120)	(4,150)	1,142
(Loss)/income from continuing operations before income tax expenses	(9,813)	(116,053)	23,832	(51,464)
Income tax expense		(21,950)		(21,950)
Net (loss)/income after income tax expense for the period	(9,813)	(138,003)	23,832	(73,414)
Other comprehensive (loss)/income
Exchange differences arising on translation of foreign operations	(2,282)	1,211	(131)	708
Other comprehensive (loss)/income	(2,282)	1,211	(131)	708
Total comprehensive (loss)/income for the period	$ (12,095)	$ (136,792)	$ 23,701	$ (72,706)
Net (loss)/income per share
Basic and diluted	$ 0.00003234	$ 0.00036580	$ 0.00006338	$ 0.00019443
Weighted average number of common stock outstanding
Basic and diluted	373,950,544	373,950,544	373,950,544	373,950,544

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income/(loss)	$ 23,832	$ (73,414)
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of right-of-use assets	47,817	45,249
Net changes in operating assets and liabilities
Increase in receivables	(28,107)	(16,908)
(Decrease)/increase in accrued and other liabilities	(2,935)	26,136
Increase/(decrease) in borrowings	19,459	(445)
Repayment of lease liabilities	(61,144)	(62,659)
Net cash (used in) / generated by operating activities	(1,078)	(81,843)
Cash flows from financing activity
Net cash used in financing activity	(61,144)	(69,334)
Net decrease in cash and cash equivalents	(1,078)	(81,942)
Cash and cash equivalents at the beginning of period	43,394	116,963
Exchange difference on translation of foreign operations	4,389	6,921
Cash and cash equivalents at the end of period	46,705	41,843
Supplemental cash flow information
Interest income	792	95
Supplemental non-cash flows information
Lease liability arising from obtaining right-of-use asset	$ 4,942	$ 6,675

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Jun. 30, 2023
Assets
Cash and cash equivalents	$ 46,705	$ 43,394
Other assets	19,694	19,988
Other receivables	42,086	13,685
Total current assets	108,485	77,067
Property, plant and equipment, net of accumulated depreciation
Right-of-use assets, net of accumulated amortization	130,407	182,744
Total non-current asset	130,407	182,744
Total assets	238,892	259,811
Liabilities
Accrued and other liabilities	77,551	80,486
Borrowings	28,762	9,303
Lease liabilities	59,733	63,601
Total current liabilities	166,046	153,390
Lease liabilities	94,237	151,513
Total non-current liability	94,237	151,513
Total liabilities	260,283	304,903
Deficit
Common stock, $0.000001 par value, 500,000,000 shares authorized, 373,950,544 shares issued and outstanding as of March 31, 2024, and June 30, 2023, respectively	356	356
Additional paid in capital	157,150	157,150
Other comprehensive loss	(9,443)	(9,312)
Accumulated losses	(169,454)	(193,286)
Total Stockholders’ (Deficit)	(21,391)	(45,092)
Total liabilities and Stockholders’ (Deficit)	$ 238,892	$ 259,811