Loans Payable (Tables)

6 Months Ended

Dec. 31, 2025

The loan balance consists of the following:

	December 31, 2025			June 30, 2025
Equipment loans (a)	$	16,080		$	34,645
Vehicle loans (b)		138,079			88,762
Other loans		2,288,054			1,237,103
Total		2,442,213			1,360,510
Less: loan payable, current		(2,325,149	)		(1,300,112	)
Loan payable, non-current	$	117,064		$	60,398

(a) Equipment loans

The Company made the total principal repayments of $9,096 and $11,768 in connection with the equipment loans during the three months ended December 31, 2025 and 2024, respectively. Interest expenses for the above-mentioned equipment loans amounted to $560 and $1,416 during the three months ended December 31, 2025 and 2024, respectively. The Company did not have any new equipment loan during the three months ended December 31, 2025.

The Company made the total principal repayments of $18,565 and $25,523 in connection with the equipment loans during the six months ended December 31, 2025 and 2024, respectively. Interest expenses for the above-mentioned equipment loans amounted to $1,321 and $3,056 during the six months ended December 31, 2025 and 2024, respectively. The Company did not have any new equipment loan during the six months ended December 31, 2025.

(b) Vehicle loans

During the six months ended December 31, 2025, the Company entered into a new vehicle loan with Webank for a principal amount of $69,862 at a fixed interest rate of 1.92% per annum and matures in July, 2030. The loan is secured by the related vehicle, which has been pledged as collateral.

The Company made the total principal repayments of $10,151 and $16,119 in connection with the above vehicle loans during the three months ended December 31, 2025 and 2024, respectively. Interest expenses for the above-mentioned above vehicle loans amounted to $1,155 and $ 3,136 during the three months ended December 31, 2025 and 2024, respectively.

The Company made the total principal repayments of $22,101 and $30,354 in connection with the above vehicle loans during the six months ended December 31, 2025 and 2024, respectively. Interest expenses for the above-mentioned above vehicle loans amounted to $2,301 and $ 4,444 during the six months ended December 31, 2025 and 2024, respectively.

Schedule of Other Loans

Other loans

	December 31, 2025		June 30, 2025
Loan A	$	120,000	$	120,000
Loan B		50,000		50,000
Loan C		50,000		50,000
Loan D		90,000		95,000
Loan E		-		12,009
Loan F		-		50,000
Loan G		-		19,995
Loan H		99,975		99,975
Loan I		668,046		317,252
Loan J		10,000		10,000
Loan K		100,000		100,000
Loan L		100,000		50,003
Loan M		23,916		23,347
Loan N		142,998		139,595
Loan O		140,771		99,927
Loan P		89,438		-
Loan Q		120,000		-
Loan R		196,179		-
Loan S		286,731		-
Total	$	2,288,054	$	1,237,103

(a)

The Company entered a loan of $300,000 with a third party on March 1, 2022. The loan is unsecured, with a fixed interest of 15% per annum and payable on monthly basis, for 6 months period and matured on September 1, 2022. On September 1, 2022, both parties agreed to extend the loan’s principal payment term to on demand. The Company did not make repayment during the three and six months ended December 31, 2025.

(b)

On June 27, 2025, the Company entered a loan of $50,000 with a third party. The loan is unsecured, with no interest bearing for a 6-month period and matured on December 27, 2025. The Company did not made repayment during the three and six months ended December 31, 2025. On December 27,2025, both parties agreed to extend the loan’s principal payment term to on demand.

(c)	The Company entered a loan agreement of $50,000 with an employee on October 27, 2021. The loan is non-interest bearing, for a 12-month period, and matured on October 26, 2022. On October 26, 2022, both parties agreed to extend the loan term to on demand.

(d)

The Company entered a loan agreement of $100,000 with a third party on July 3, 2023. The loan is non-interest bearing, for a 6-month period.

On April 10, 2024, the Company entered another loan agreement of $75,000 with same party. The loan is non-interest bearing, for a 6-month period, and matured on September 9, 2024.

The Company made repayment of $5,000 during the six months ended December 31, 2025. Both parties agreed to extend the remaining principal balance of $90,000 payment term to on demand.

(e)	The Company entered a loan of $125,000 with a third party on August 17, 2023. The loan is personally guaranteed by Henry Liu, the CEO, with a fixed interest of 16.00% per annum for 24 months period and matured on August 16, 2025. The monthly payment is $6,120 blending of interest and principal.

(f)	On October 16, 2024, the Company entered a loan of $150,000 with a third party. The loan is personally guaranteed by Henry Liu, the CEO, with a fixed interest of 33.37% per annum and payable on monthly basis, for 12 months period and matured on October 16, 2025. The monthly payment is $16,250 for the first six months and $13,250 for the remaining six months blending of interest and principal.

(g)	The Company entered a loan of $45,000 with a third party on November 5, 2024. The loan is personally guaranteed by Henry Liu, the CEO, with a fixed interest of 24.16% per annum and payable on monthly basis, for 12 months period and matured on November 5, 2025. The monthly payment is $4,259 blending of interest and principal.

(h)	The Company entered a loan of $99,975 with a third party on January 21, 2025. The loan is unsecured, with no interest bearing for 6 months period and matured on July 21, 2025. On July 21, 2025, both parties agreed to extend the remaining principal balance payment term to on demand.

(i)	The Company entered a loan of $350,000 with a third party on May 17, 2025. The loan is personally guaranteed by Henry Liu, the CEO, and Shuai Li, the Shareholder, with a fixed interest of 45.7% per annum and payable on weekly basis, for 52 weeks and matured on May 16, 2026. The weekly payment is $8,413 blending of interest and principal. On August 11, 2025, the Company refinanced its existing loan, increasing the principal amount to $1,000,000 under a new loan agreement. The loan bears a fixed interest rate of 45.7% per annum, is payable in weekly installments over 52 weeks, and matures on August 13, 2026. The loan is personally guaranteed by Henry Liu, the Company’s Chief Executive Officer, and Shuai Li, a shareholder. Under the loan agreement, the Company granted the lender a security interest in substantially all of the Company’s assets, whether now owned or hereafter acquired, including cash, accounts receivable, inventory, equipment, general intangibles, and proceeds thereof. The security interest secures all obligations under the loan agreement and is perfected through the filing of financing statements. The Company is required to make weekly blended payments of principal and interest of approximately $24,038.

(j)	The Company entered a loan of $10,000 with a third party on April 18, 2025. The loan is unsecured, with a fixed interest of 6% per annum for 6 months period and matured on October 18, 2025. On October 18, 2025, both parties agreed to extend the loan’s principal payment term to on demand.

(k)

The Company entered a loan of $100,000 with an unrelated party on June 30, 2025. The loan is unsecured, with no interest bearing for 6 months period and matured on December 30, 2025. On December 30, 2025, both parties agreed to extend the loan’s principal payment term to on demand.

(l)

The Company entered a loan of $67,003 with a third party on April 10, 2025. The loan is unsecured, with no interest bearing for 6 months period and matured on October 10, 2025. The Company entered a new loan of $86,911 with same party on August 6, 2025. The loan is unsecured, with no interest bearing for 6 months period and matured on February 6, 2026.

The Company made repayment of $36,914 during the six months ended December 31, 2025. Both parties agreed to extend the remaining principal payment term to on demand.

(m)	The Company entered a loan of $23,347 (RMB167,250) with a third party on August 9, 2024. The loan is unsecured, with no interest bearing and repayable on demand.

(n)	The Company entered a loan of $139,595 (RMB1,000,000) with a third party on June 6, 2025. The loan is unsecured, with no interest bearing for 12 months period and matured on May 31, 2026.

(o)	The Company entered a loan of $99,928 with a third party on June 27, 2025. The loan is at a fixed interest of 8.99% per annum and payable on monthly basis, for 11 months period and matured on May 27, 2026. The monthly payment is $9,498 blending of interest and principal. During the six months ended December 31, 2025, the Company entered a loan of $106,757 with a third party on July 27, 2025. The loan is at a fixed interest of 16.9% per annum and payable on monthly basis, for 10 months period and matured on June 27, 2026. The monthly payment is $11,520 blending of interest and principal

(p)	The Company entered a loan of $105,263 with a third party on July 1, 2025. The loan is at a fixed interest of 34.0% per annum and payable on biweekly basis, for 24 months period and matured on July 1, 2027. The repayment is $3,037 blending of interest and principal. Under the loan agreement, the Company granted the lender a security interest in substantially all of the Company’s present and future assets, including accounts, inventory, equipment, general intangibles, and proceeds thereof, to secure all obligations under the agreement.

(q)	The Company entered a loan of $120,000 with a third party on July 24, 2025, with a fixed interest of 10.0% per annum for 10 months period.

(r)	The Company entered a loan of $208,332 (RMB1,500,000) with a third party on July 12, 2025, with a fixed interest of 10.0% per annum for 10 months period. The loan was pledged by two residential properties owned by Henry Liu, the Company’s Chief Executive Officer, and Shuai Li, a shareholder

(s)	The Company entered a loan of $300,000 with a third party on December 9, 2025. The loan is at a fixed interest of 12.5% per annum and payable on weekly basis, for 12 months period and matured on December 9, 2026. The weekly payment is $7,500 blending of interest and principal. The loan is secured by a security interest in ABL Chicago’s all current and future accounts, including deposit accounts, accounts receivable, and all related proceeds.

Schedule of Repayment of Loans

The repayment schedule for the Company’s loans is as follows:

Twelve months ending December 31,	Vehicle loans			Equipment loans			Others			Total
2026	$	51,613		$	15,434		$	2,469,951		$	2,536,998
2027		39,388			1,448			27,336			68,172
2028		28,414			-			-			28,414
2029		17,243			-			-			17,243
2030		8,755			-			-			8,755
Total undiscounted borrowings		145,413			16,882			2,497,287			2,659,582
Less: imputed interest		(7,334	)		(802	)		(209,233	)		(217,369	)
Total	$	138,079		$	16,080		$	2,288,054		$	2,442,213

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Lakeside Holding Ltd 10-Q