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Property, Plant and Equipment, Net
6 Months Ended
Dec. 31, 2023
Property, Plant and Equipment, Net [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET

8. PROPERTY, PLANT AND EQUIPMENT, NET

 

As of June 30, 2023, and December 31, 2023, property, plant and equipment consisted of the following:

 

   As of
June 30,
   As of
December 31,
 
   2023   2023 
Leasehold improvements  $518,854   $813,912 
Office and other equipment   339,155    847,427 
Furniture and fixtures   309,990    340,723 
Construction-in-progress   
-
    296,557 
    1,167,999    2,298,619 
Less: accumulated depreciation   (79,868)   (150,413)
Total  $1,088,131   $2,148,206 

  

For the three months ended December 31, 2022 and 2023, depreciation expense amounted to $6,939, and $41,484, respectively. For the six months ended December 31, 2022 and 2023, depreciation expense amounted to $13,495 and $70,545, respectively.

 

Included in construction-in-progress are prepayment for production and office renovations for Ispire Malaysia.