Leases

12 Months Ended

Jun. 30, 2025

Note 12. LEASES

The Company leases its office in Shanghai City from a third party for its operations.

As of June 30, 2025 and 2024, the remaining average lease term was an average of 1.5 and 1.7 years, respectively. The Company’s lease agreements do not provide a readily determinable implicit rate nor is it available to the Company from its lessors. Instead, the Company estimates its incremental borrowing rate based on actual incremental borrowing interest rates from financial institutions in order to discount lease payments to present value. The discount rate of the Company’s operating leases was 10.74% and 10.74% per annum, as of June 30, 2025 and 2024, respectively.

Supplemental balance sheet information related to operating leases was as follows:

	June 30,		June 30,
	2025		2024
Right-of-use assets	$	84,370	$	98,327

Lease liabilities, current		53,286		177,263
Lease liabilities, non-current		31,084		131,355
Total lease liabilities	$	84,370	$	308,618

As of June 30, 2025, maturities of lease liability were as follows:

	As of
	June 30,
Twelve months ended June 30,	2025
2026	$	61,151
2027		30,575
Total future minimum lease payments		91,726
Less: Imputed interest		(7,356	)
Total lease liabilities	$	84,370

Singularity Future Technology Ltd. 10-K