Verde Resources (VRDR) 10-Q 16 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	May 12, 2023
Cover [Abstract]
Entity Registrant Name	Verde Resources, Inc.
Entity Central Index Key	0001506929
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		1,176,200,278
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55276
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	32-0457838
Entity Address Address Line 1	2 Cityplace Drive
Entity Address Address Line 2	Suite 200
Entity Address City Or Town	St. Louis
Entity Address State Or Province	MO
Entity Address Postal Zip Code	63141
City Area Code	323
Local Phone Number	538-5799
Entity Interactive Data Current	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 241,371	$ 418,917
Accounts receivable	13,760	21,028
Inventories	97,336	87,035
Amount due from related party	100	0
Prepayments	450,470	722
Other receivables and deposits	192,127	118,516
Total current assets	995,164	646,218
Non-current assets:
Property, plant and equipment, net	7,272,555	1,048,893
Right of use assets, net	663,455	685,714
Mining rights	0	27,088
Intangible asset	30,192,771	0
Security deposit	80,000	320,000
Deposit paid for acquisition of subsidiaries	22,609	25,935,550
Deposit paid for acquisition of property, plant and equipment	0	5,000,000
Total non-current assets	38,231,390	33,017,245
Assets of disposal group held for sale	19,570	0
TOTAL ASSETS	39,246,124	33,663,463
Current liabilities:
Accounts payable	29,360	18,211
Accrued liabilities and other payables	579,374	283,656
Finance lease liabilities	171,538	75,224
Operating lease liability	19,851	0
Bank loan	100,000	0
Promissory notes	0	18,484,028
Amount due to director	16,776	0
Amounts due to related parties	178,492	555,527
Total current liabilities	1,095,391	19,416,646
Non-current liabilities:
Finance lease liabilities	654,979	97,900
Operating lease liability	35,032	0
Promissory notes	481,023	0
Total non-current liabilities	1,171,034	97,900
Liabilities of disposal group held for sale	40,007	0
TOTAL LIABILITIES	2,306,432	19,514,546
Commitments and contingencies	0	0
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value, 50,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.001 par value; 10,000,000,000 shares authorized; 1,174,290,939 and 819,188,055 shares issued and outstanding as of March 31, 2023 and June 30, 2022	1,174,291	819,188
Common stock, $0.001 par value; 1,717,032 and 0 shares to be issued as of March 31, 2023 and June 30, 2022	1,717	0
Additional paid-in capital	45,396,150	22,945,190
Accumulated other comprehensive income	886,003	742,459
Accumulated deficit	(10,518,469)	(10,357,920)
Stockholders' equity	36,939,692	14,148,917
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 39,246,124	$ 33,663,463

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Mar. 31, 2023	Jun. 30, 2022
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	10,000,000,000	10,000,000,000
Common stock, shares issued	1,174,290,939	819,188,055
Common stock, shares outstanding	1,174,290,939	819,188,055
Common stock to be issued [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	1,717,032	0

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
Revenue, net	$ 26,586	$ 16,712	$ 134,038	$ 16,712
Cost of revenue	(44,308)	(86,701)	(123,903)	(86,701)
Gross (loss)/profit	(17,722)	(69,989)	10,135	(69,989)
Operating expenses:
General and administrative	816,089	498,774	2,381,155	1,221,875
Total operating expenses	(816,089)	(498,774)	(2,381,155)	(1,221,875)
LOSS FROM OPERATION	(833,811)	(568,763)	(2,371,020)	(1,291,864)
Other (expense) income:
Interest expense	(13,549)	(486,977)	(1,893,209)	(1,441,911)
Other income	194,917	99	196,514	12,214
Total other income (expense), net	181,368	(486,878)	(1,696,695)	(1,429,697)
LOSS BEFORE INCOME TAXES	(652,443)	(1,055,641)	(4,067,715)	(2,721,561)
Income tax expense	0	0	0	0
Loss from continuing operation	(652,443)	(1,055,641)	(4,067,715)	(2,721,561)
Loss from discontinued operation	(55,884)	0	(157,284)	0
NET LOSS	(708,327)	(1,055,641)	(4,224,999)	(2,721,561)
Net profit attributable to noncontrolling interest	0	23,914	0	6,979
Net loss attributable to Verde Resources Inc., shareholders	(708,327)	(1,079,555)	(4,224,999)	(2,728,540)
Total	(708,327)	(1,055,641)	(4,224,999)	(2,721,561)
Other comprehensive (loss) income:
Foreign currency adjustment income (loss)	154,912	11,600	143,544	15,171
Less: other comprehensive (loss) attributable to non-controlling interest	0	(13,285)	0	(12,750)
Add: other comprehensive income attributable to Verde Resources Inc., shareholders	154,912	24,885	143,544	27,921
COMPREHENSIVE LOSS	$ (553,415)	$ (1,044,041)	$ (4,081,455)	$ (2,706,390)
Net loss per share
- Basic	$ 0	$ 0	$ 0	$ 0
- Diluted	$ 0	$ 0	$ 0	$ 0
Weighted average Common Shares outstanding
- Basic	967,932,561	810,742,109	967,932,561	810,742,109
- Diluted	979,305,136	819,188,055	979,305,136	819,188,055

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (4,224,999)	$ (2,721,561)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities
Depreciation of property, plant and equipment	177,074	9,831
Amortization	98,954	29,434
Stock-based compensation	448,123	284,249
Finance cost interest element of promissory notes (non-cash)	1,870,972	1,441,911
Lease interest expense	22,237	0
Fair value adjustment on convertible promissory note	(194,865)
Gain on disposal of property, plant and equipment	(600)	0
Changes in operating assets and liabilities:
Accounts receivable	7,196	(14,818)
Other receivables, deposits and prepayments	(96,124)	(85,132)
Inventories	(10,600)	(81,492)
Accounts payables	25,970	(719)
Accrued liabilities and other payables	183,312	24,774
Advanced from director	(5,761)	0
Mining rights	0	16,142
Advanced from related parties	165,792	0
Net cash used in operating activities	(1,533,319)	(1,097,381)
Cash flows from investing activities:
Proceeds from disposal of property, plant and equipment	23,000	0
Payments of deposit for property, plant and equipment	0	(240,000)
Advanced to related parties	0	690
Proceed from disposal of discontinued operation, net	107,824	0
Payments of deposit for acquisition of subsidiary company	(22,609)	0
Net cash flows on acquisition of subsidiary company	1,140	0
Purchase of property, plant and equipment	(473,895)	(70,332)
Net cash used in investing activities	(364,540)	(309,642)
Cash flows from financing activities:
Repayments to lease liabilities	(56,356)	(5,220)
Drawdown of bank loan	150,000	0
Repayment of bank loan	(50,000)	0
Lease interest paid	(22,237)	0
Advanced from related parties	0	9,417
Proceeds from issuance of Common Stock	1,556,280	1,000,000
Net cash provided by financing activities	1,577,687	1,004,197
Net change in cash and cash equivalent	(320,172)	(402,826)
Foreign currency translation adjustment	142,626	7,787
Net change in cash and cash equivalents	(177,546)	(395,039)
BEGINNING OF PERIOD	418,917	2,117,622
END OF PERIOD	241,371	1,722,583
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($)	Total	Shares To Be Issued	Common Stock	Additional Paid-In Capital	Accumulated other comprehensive income	Accumulated deficit	Accumulated compregensive income of disposal group held for sale	Noncontrolling Interest
Balance, shares at Jun. 30, 2021			779,742,109
Balance, amount at Jun. 30, 2021	$ 15,769,925	$ 0	$ 779,742	$ 20,699,067	$ 646,205	$ (5,913,255)		$ (441,834)
Shares issued for acquisition, shares			31,000,000
Shares issued for acquisition, amount	930,000	0	$ 31,000	899,000	0	0		0
Stock based compensation	191,222	0	0	191,222	0	0		0
Net loss for the period	(1,665,920)	0	0	0	0	(1,648,985)		(16,935)
Foreign currency translation adjustment	3,571	0	0	0	3,036	0		535
Balance, amount at Dec. 31, 2021	15,228,798	0	$ 810,742	21,789,289	649,241	(7,562,240)		(458,234)
Balance, shares at Dec. 31, 2021			810,742,109
Balance, shares at Jun. 30, 2021			779,742,109
Balance, amount at Jun. 30, 2021	15,769,925	0	$ 779,742	20,699,067	646,205	(5,913,255)		(441,834)
Net loss for the period	(2,721,561)
Balance, amount at Mar. 31, 2022	15,242,165	8,446	$ 810,742	22,873,870	876,754	(9,327,647)		0
Balance, shares at Mar. 31, 2022			819,188,055
Balance, shares at Dec. 31, 2021			810,742,109
Balance, amount at Dec. 31, 2021	15,228,798	0	$ 810,742	21,789,289	649,241	(7,562,240)		(458,234)
Stock based compensation	93,027	0	0	93,027	0	0		0
Net loss for the period	(1,055,641)	0	0	0	0	(1,079,555)		23,914
Foreign currency translation adjustment	11,600	0	$ 0	0	24,885	0		(13,285)
Shares to be issued for private placement, shares			8,445,946
Shares to be issued for private placement, amount	1,000,000	8,446	$ 0	991,554	0	0		0
Accretion of interest	(35,619)	0	0	0	202,628	(685,852)		447,605
Balance, amount at Mar. 31, 2022	15,242,165	8,446	$ 810,742	22,873,870	876,754	(9,327,647)		$ 0
Balance, shares at Mar. 31, 2022			819,188,055
Balance, shares at Jun. 30, 2022			819,188,055
Balance, amount at Jun. 30, 2022	14,148,917	0	$ 819,188	22,945,190	742,459	(10,357,920)	$ 0
Net loss for the period	(3,516,672)	0	0	0	0	(3,516,672)	0
Foreign currency translation adjustment	(11,368)	0	$ 0	0	(11,368)	0	0
Shares to be issued for private placement, shares			15,931,210
Shares to be issued for private placement, amount	1,397,280	0	$ 15,931	1,381,349	0	0	0
Share issued to service provider, shares			5,315,000
Share issued to service provider, amount	875,500	0	$ 5,315	870,185	0	0	0
Shares issued for conversion of promissory note ("PN"), shares			333,142,389
Shares issued for conversion of promissory note ("PN"), amount	20,355,000	0	$ 333,142	20,021,858	0	0	0
Fair value adjustment on conversion of PN	4,064,450	0	0	0	0	4,064,450	0
Balance, amount at Dec. 31, 2022	37,313,107	0	$ 1,173,576	45,218,582	731,091	(9,810,142)	0
Balance, shares at Dec. 31, 2022			1,173,576,654
Balance, shares at Jun. 30, 2022			819,188,055
Balance, amount at Jun. 30, 2022	14,148,917	0	$ 819,188	22,945,190	742,459	(10,357,920)	0
Net loss for the period	(4,224,999)
Balance, amount at Mar. 31, 2023	$ 36,939,692	1,717	$ 1,174,291	45,396,150	74,657	(10,518,469)	811,346
Balance, shares at Mar. 31, 2023	1,375,000		1,176,007,971
Balance, shares at Dec. 31, 2022			1,173,576,654
Balance, amount at Dec. 31, 2022	$ 37,313,107	0	$ 1,173,576	45,218,582	731,091	(9,810,142)	0
Net loss for the period	(708,327)	0	0	0	0	(708,327)	0
Foreign currency translation adjustment	154,912	0	$ 0	0	154,912	0	0
Shares to be issued for private placement, shares			1,717,032
Shares to be issued for private placement, amount	130,000	1,717	$ 0	128,283	0	0	0
Shares issued to service provider, amount	50,000	0	$ 715	49,285	0	0	0
Shares issued to service provider, shares			714,285
Reclassification arising from disposal group held for sale	0	0	$ 0	0	(811,346)	0	811,346
Balance, amount at Mar. 31, 2023	$ 36,939,692	$ 1,717	$ 1,174,291	$ 45,396,150	$ 74,657	$ (10,518,469)	$ 811,346
Balance, shares at Mar. 31, 2023	1,375,000		1,176,007,971

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	9 Months Ended
	Mar. 31, 2023
ORGANIZATION AND BUSINESS BACKGROUND
ORGANIZATION AND BUSINESS BACKGROUND	NOTE 1 - ORGANIZATION AND BUSINESS BACKGROUND Verde Resources, Inc. (the “We” or “Company” or “VRDR”) was incorporated on April 22, 2010, in the State of Nevada, U.S.A.. The Company currently is engaged in the distribution of THC-free cannabinoid (CBD) products, production and distribution of renewable commodities and real property holding. However, the Company has been undergoing a restructuring exercise to shift its focus towards renewable energy and sustainability development with the world faced with challenges of climate change and environmental dehydration. The Company has initiated the disposition of the mining business via the sale of the entire issued and paid-up share capital of CSB to focus on renewable energy and sustainability. As of March 31, 2023, the Company has the following subsidiaries:- Company name Place of incorporation Principal activities and place of operation Effective interest held Verde Resources Asia Pacific Limited (“VRAP”) (fka Gold Billion Global Limited) British Virgin Islands Investment holding 100% Verde Resources (Malaysia) Sdn Bhd (“VRSB”) Malaysia Provision of consultation service and distribution of renewable agricultural commodities 100% Verde Renewables, Inc. (“VRI”) State of Missouri, U.S.A. Management of a processing and packaging facility 100% Verde Life Inc. (“VLI”) State of Oregon, U.S.A. Distribution of THC-free cannabinoid (CBD) products 100% Champmark Sdn Bhd (“Champmark”) Malaysia Mining of minerals 100%* The Wision Project Sdn Bhd (“Wision”) Malaysia Digital innovation, marketing & consulting service, PR, branding, influencer marketing, event management and media relations services 100% Verde Estates LLC (“VEL”) State of Missouri, U.S.A. Holding real property 100% Bio Resources Limited (“BRL”) Labuan, Malaysia Provision of proprietary pyrolysis technology and investment holding 100%** * The disposition of Champmark was initiated on March 13, 2023 and subsequently completed on April 20, 2023. ** The acquisition of BRL was completed on October 12, 2022. The Company and its subsidiaries are hereinafter referred to as (the “Company”). On March 23, 2023, the Company initiated the acquisition of 60% equity interest in Vata VM Synergy (M) Sdn Bhd (“VATA”), a company incorporated in Malaysia and engaged in the provision of green technology and creating high quality compost using agricultural waste and biomass products. The initial deposit has been paid and the transaction is yet to be completed as of today.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Mar. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying unaudited condensed consolidated financial statements and notes. · Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the condensed consolidated balance sheet as of June 30, 2022 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended March 31, 2023 are not necessarily indicative of the results to be expected for the entire fiscal year ending June 30, 2023 or for any future period. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended June 30, 2022, filed with the SEC on November 4, 2022. · Use of Estimates and Assumptions The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates. · Basis of Consolidation The unaudited condensed consolidated financial statements include the financial statements of Verde Resources, Inc. and its subsidiaries. All significant inter-company balances and transactions within the Company and its subsidiaries have been eliminated upon consolidation. The Company accounts for acquisitions in accordance with guidance found in ASC 805, Business Combinations. The guidance requires consideration given, including contingent consideration, assets acquired, and liabilities assumed to be valued at their fair market values at the acquisition date. · Segment Reporting Accounting Standard Codification (“ASC”) Topic 280, Segment Reporting · Concentrations of Credit Risk The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. · Risks and Uncertainties The Company operates in the resource exploration industry and the production and distribution of renewable commodities that are subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business and a production operation for renewable commodities, including the potential risk of business failure. · Cash and Cash Equivalents Cash and cash equivalents are carried at cost and represent cash in banks, money market funds, and certificates of term deposits with maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $241,371 and $418,917 in cash and cash equivalents at March 31, 2023 and June 30, 2022. At March 31, 2023 and June 30, 2022, cash and cash equivalents consisted of bank deposits and petty cash on hands. · Accounts Receivable Accounts receivable are recognized and carried at net realizable value. An allowance for doubtful accounts will be recorded in the period when a loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging, ongoing business relation and other factors. Accounts are written off after exhaustive efforts at collection. If accounts receivable are to be provided for, or written off, they would be recognized in the consolidated statement of operations within operating expenses. At March 31, 2023 and June 30, 2022, the Company has no allowance for doubtful accounts, as per management’s judgment based on their best knowledge. As of March 31, 2023 and June 30, 2022, the longest credit term for certain customers are 60 days. · Inventories Inventories are stated at the lower of cost or market value (net realizable value), cost being determined on a first-in-first-out method. Costs include material, labor and overhead costs. The Company provides inventory allowances based on excess and obsolete inventories determined principally by customer demand. As of March 31, 2023 and June 30, 2022, the Company did not record an allowance for obsolete inventories, nor have there been any write-offs. · Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Expected useful life Land and buildings 3-27.5 years Plant and machinery 5-10 years Office equipment 3 years Project equipment 5 years Computer 5 years Motor vehicle 5 years Furniture & fittings 5 years Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterment which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the unaudited condensed consolidated statements of income and other comprehensive income in other income or expenses. · Intangible assets Intangible assets acquired from third parties are measured initially at fair value, and have a finite lives of 10 years, which are reviewed for indicators of impairment at least annually. These intangible assets are to be amortized over these estimated useful lives on a straight-line basis, upon the success of its commercial operation. · Disposal group held for sale Disposal group comprising assets and liabilities, that are expected to be recovered primarily through sale rather than through continuing use, are classified as held for sale. Immediately before classification as held for sale, the assets or components of a disposal group, are remeasured at the lower of their carrying amount and fair value less costs of disposal. Mining rights and property, plant and equipment once classified as held for sale are not amortised or depreciated. · Impairment of Long-lived Assets In accordance with the provisions of ASC Topic 360, Impairment or Disposal of Long-Lived Assets · Revenue Recognition ASC Topic 606, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Product sales Revenues from product sales are recognized when the customer obtains control of the Company’s product, which occurs at a point in time, typically upon delivery to the customer. The Company expenses incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that it would have recognized is one year or less or the amount is immaterial. Revenues from product sales are recorded net of reserves established for applicable discounts and allowances that are offered within contracts with the Company’s customers. Product revenue reserves, which are classified as a reduction in product revenues, are generally characterized in the following categories: discounts, returns and rebates. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable as the amount is payable to the Company’s customer. Gold mining Revenue from the sales of gold mineral or other minerals to registered gold trading companies or other customers in Malaysia is recognized as revenue in accordance with the following core principles: at the time of gold or minerals sales, the contract with customers and the performance obligations are identified. The transaction and selling price is determined by the prevailing market value of gold bullion quoted by the leading registered gold trading company in Malaysia or at an agreed price. Sales invoice will be prepared to reflect the proper transaction price based on the performance obligation allocation. After delivery is completed and the performance obligation is satisfied, sales invoice will be presented to the customers and so revenue is then recognized accordingly. · Leases The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use (“ROU assets”) assets represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. ROU assets are reviewed for impairment when indicators of impairment are present. ROU assets from operating and finance leases are subject to the impairment guidance in ASC Topic 360, Property, Plant, and Equipment ROU assets are tested for impairment individually or as part of an asset group if the cash flows related to the ROU asset are not independent from the cash flows of other assets and liabilities. An asset group is the unit of accounting for long-lived assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. The Company recognized no impairment of ROU assets as of March 31, 2023 and June 30, 2022. The operating lease is included in operating lease right-of-use assets and operating lease liabilities as current and non-current liabilities in the unaudited condensed consolidated balance sheets at March 31, 2023 and June 30, 2022. Leases that transfer substantially all the rewards and risks of ownership to the lessee, other than legal title, are accounted for as finance leases. Substantially all of the risks or benefits of ownership are deemed to have been transferred if any one of the four criteria is met: (i) transfer of ownership to the lessee at the end of the lease term, (ii) the lease containing a bargain purchase option, (iii) the lease term exceeding 75% of the estimated economic life of the leased asset, (iv) the present value of the minimum lease payments exceeding 90% of the fair value. At the inception of a finance lease, we as the lessee records an asset and an obligation at an amount equal to the present value of the minimum lease payments. The leased asset is amortized over the shorter of the lease term or its estimated useful life if title does not transfer to us, while the leased asset is depreciated in accordance with our depreciation policy if the title is to eventually transfer to us. The periodic rent payments made during the lease term are allocated between a reduction in the obligation and interest element using the effective interest method in accordance with the provisions of ASC Topic 842. · Income Taxes The Company adopted the ASC Topic 740, Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. Uncertain Tax Positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC Topic 740 provisions of Section 740-10-25 for the three and nine months ended March 31, 2023 and 2022. · Foreign Currencies Translation The Company’s reporting currency is the United States dollar (“US$”) and the accompanying unaudited condensed consolidated financial statements have been expressed in United States dollars. In addition, some of the Company’s subsidiaries operating in Malaysia maintain their books and records in the local currency, Malaysian Ringgit (“MYR”) which is their functional currency, being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of MYR into U.S. dollars has been made at the following exchange rates for the following periods:- March 31, 2023 March 31, 2022 Period-end MYR:US$ exchange rate 0.22609 0.23784 Average period MYR:US$ exchange rate 0.22328 0.23898 · Comprehensive Income ASC Topic 220, Comprehensive Income · Net Loss per Share The Company calculates net loss per share in accordance with ASC Topic 260, Earnings per Share · Stock Based Compensation The Company accounts for stock-based compensation in accordance with ASC Topic 718-10, Compensation-Stock Compensation The Company accounts for non-employee stock-based awards at fair value in accordance with the measurement and recognition criteria of ASC Topic 505-50, “ Equity-Based Payments to Non-Employees · Mineral Acquisition and Exploration Costs Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves. · Environmental Expenditures The operations of the Company have been, and may in the future be affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company’s policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries. · Related Parties The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. · Commitments and Contingencies The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. · Fair Value of Financial Instruments The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, accounts receivable, prepayments and other receivables, accounts payable, accrued liabilities and other payables, loans payable, and amounts due to related parties approximate their fair values because of the short maturity of these instruments. · Recent Accounting Pronouncements During the period ended March 31, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s unaudited condensed consolidated financial statements.

GOING CONCERN UNCERTAINTIES

GOING CONCERN UNCERTAINTIES	9 Months Ended
	Mar. 31, 2023
GOING CONCERN UNCERTAINTIES
GOING CONCERN UNCERTAINTIES	NOTE 3 - GOING CONCERN UNCERTAINTIES The accompanying unaudited condensed consolidated financial statements have been prepared using the going concern basis of accounting, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has generated recurring losses and suffered from an accumulated deficit of $10,518,469 at March 31, 2023 and recorded a net current liability position of $100,227 as of that date. The continuation of the Company as a going concern in the next twelve months is dependent upon the Company pursuing additional financing for its operations. However, there is no assurance that the Company will be successful in securing sufficient funds to sustain the operations. The ability of the Company to survive is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings, and related party loans. No assurance can be given that any future financing, if needed, will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, if needed, it may contain undue restrictions on its operations, in the case of debt financing, or cause substantial dilution for its stockholders, in the case of equity financing. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern. These unaudited condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	9 Months Ended
	Mar. 31, 2023
BUSINESS SEGMENT INFORMATION
BUSINESS SEGMENT INFORMATION	NOTE 4 – BUSINESS SEGMENT INFORMATION Currently, the Company has four reportable business segments: (i) Distribution of THC-free cannabinoid (CBD) products; (ii) Production and distribution of renewable commodities; (iii) Holding of real property; and (iv) Licensor of proprietary pyrolysis technology In the following table, revenue is disaggregated by primary major product line, and timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue with the reportable segments for the three and nine months ended March 31, 2023 and 2022: Three Months ended March 31, 2023 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Licensor of proprietary pyrolysis technology Corporate unallocated Consolidated Revenue $ - $ - $ 10,215 $ 15,896 $ - $ 475 $ 26,586 Cost of revenue - - (44,129 ) - - (179 ) (44,308 ) Gross profit/(loss) - - (33,914 ) 15,896 - 296 (17,722 ) Selling, general & administrative expenses - (300 ) (371,146 ) (47,630 ) (8,282 ) (388,731 ) (816,089 ) Loss from operations - (300 ) (405,060 ) (31,734 ) (8,282 ) (388,435 ) (833,811 ) Interest expenses - - (13,549 ) - - - (13,549 ) Other income - - 42 - - 194,875 194,917 Loss before income tax - (300 ) (418,567 ) (31,734 ) (8,282 ) (193,560 ) (652,443 ) Income tax - - - - - - - Loss from continuing operation - (300 ) (418,567 ) (31,734 ) (8,282 ) (193,560 ) (652,443 ) Loss from discontinued operation (55,884 ) - - - - - (55,884 ) Net loss $ (55,884 ) $ (300 ) $ (418,567 ) $ (31,734 ) $ (8,282 ) $ (193,560 ) $ (708,327 ) Total assets at March 31, 2023 $ 19,570 $ 315,929 $ 1,519,462 $ 1,245,906 $ 30,195,135 $ 5,950,122 $ 39,246,124 Three Months ended March 31, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 16,712 $ - $ - $ 16,712 Cost of revenue - - (86,701 ) - - (86,701 ) Gross loss - - (69,989 ) - - (69,989 ) Selling, general & administrative expenses (43,405 ) (1,378 ) (75,958 ) (180,497 ) (197,536 ) (498,774 ) Loss from operations (43,405 ) (1,378 ) (145,947 ) (180,497 ) (197,536 ) (568,763 ) Interest expenses - - - - (486,977 ) (486,977 ) Other income (17 ) - - 116 - 99 Loss before income tax (43,422 ) (1,378 ) (145,947 ) (180,381 ) (684,513 ) (1,055,641 ) Income tax - - - - - - Loss from continuing operation (43,422 ) (1,378 ) (145,947 ) (180,381 ) (684,513 ) (1,055,641 ) Loss from discontinued operation - - - - - - Net loss $ (43,422 ) $ (1,378 ) $ (145,947 ) $ (180,381 ) $ (684,513 ) $ (1,055,641 ) Total assets as March 31, 2022 $ 317,471 $ - $ 101,066 $ 505,432 33,118,811 $ 34,042,780 Nine Months ended March 31, 2023 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Licensor of proprietary pyrolysis technology Corporate unallocated Consolidated Revenue $ - $ - $ 89,480 $ 39,117 $ - $ 5,441 $ 134,038 Cost of revenue - - (122,758 ) - - (1,145 ) (123,903 ) Gross (loss)/profit - - (33,278 ) 39,117 - 4,296 10,135 Selling, general & administrative expenses - (2,875 ) (1,373,555 ) (134,880 ) (8,935 ) (860,910 ) (2,381,155 ) Loss from operations - (2,875 ) (1,406,833 ) (95,763 ) (8,935 ) (856,614 ) (2,371,020 ) Interest expenses - - (22,237 ) - - (1,870,972 ) (1,893,209 ) Other income - - 678 - - 195,836 196,514 Loss before income tax - (2,875 ) (1,428,392 ) (95,763 ) (8,935 ) (2,531,750 ) (4,067,715 ) Income tax - - - - - - - Loss from continuing operation - (2,875 ) (1,428,392 ) (95,763 ) (8,935 ) (2,531,750 ) (4,067,715 ) Loss from discontinued operation (157,284 ) - - - - - (157,284 ) Net loss $ (157,284 ) $ (2,875 ) $ (1,428,392 ) $ (95,763 ) $ (8,935 ) $ (2,531,750 ) $ (4,224,999 ) Total assets at March 31, 2023 $ 19,570 $ 315,929 $ 1,519,462 $ 1,245,906 $ 30,195,135 $ 5,950,122 $ 39,246,124 Nine Months ended March 31, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 16,712 $ - $ - $ 16,712 Cost of revenue - - (86,701 ) - - (86,701 ) Gross loss - - (69,989 ) - - (69,989 ) Selling, general & administrative expenses (150,781 ) (3,134 ) (93,598 ) (283,239 ) (691,123 ) (1,221,875 ) Loss from operations (150,781 ) (3,134 ) (163,587 ) (283,239 ) (691,123 ) (1,291,864 ) Interest expenses - - - - (1,441,911 ) (1,441,911 ) Other income 12,098 - - 116 - 12,214 Loss before income tax (138,683 ) (3,134 ) (163,587 ) (283,123 ) (2,133,034 ) (2,721,561 ) Income tax - - - - - - Loss from continuing operation (138,683 ) (3,134 ) (163,587 ) (283,123 ) (2,133,034 ) (2,721,561 ) Loss from discontinued operation - - - - - - Net loss $ (138,683 ) $ (3,134 ) $ (163,587 ) $ (283,123 ) $ (2,133,034 ) $ (2,721,561 ) Total assets as March 31, 2022 $ 317,471 $ - $ 101,066 $ 505,432 33,118,811 $ 34,042,780 The below revenues are based on the countries in which the customer is located. Summarized financial information concerning the geographic segments is shown in the following tables: Three Months ended March 31, Nine Months ended March 31, 2023 2022 2023 2022 Malaysia $ 4,045 $ 16,712 $ 26,278 $ 16,712 United States 22,541 - 107,760 - $ 26,586 $ 16,712 $ 134,038 $ 16,712

OTHER RECEIVABLE AND DEPOSITS

OTHER RECEIVABLE AND DEPOSITS	9 Months Ended
	Mar. 31, 2023
OTHER RECEIVABLE AND DEPOSITS
OTHER RECEIVABLE AND DEPOSITS	NOTE 5 – OTHER RECEIVABLE AND DEPOSITS Other receivable, deposits and prepayments as of March 31, 2023 and June 30, 2022 consisted of the following: March 31, 2023 June 30, 2022 Deposits $ 191,011 $ 118,516 Other receivables 1,116 - $ 192,127 $ 118,516

INTANGIBLE ASSET

INTANGIBLE ASSET	9 Months Ended
	Mar. 31, 2023
INTANGIBLE ASSET
INTANGIBLE ASSET	NOTE 6 –INTANGIBLE ASSET On May 13, 2021, the Company announced the Share Sale Agreement on May 12, 2021 for the acquisition of the entire issued and paid-up share capital of Bio Resources Limited from Taipan International Limited, an unrelated third party, The Wision Project Limited (formerly known as “Borneo Resources Limited”), an unrelated third party, and other unrelated third party individuals, The acquisition of BRL was consummated on October 12, 2022. Bio Resources Limited (“BRL”) is the beneficial and/or registered proprietor of the intellectual property known as “Catalytic Biofraction Process”, which is a slow pyrolysis process using a proprietary catalyst to depolymerize palm biomass wastes (empty fruit bunches or palm kernel shells) in temperature range of 350 degrees Celsius to 500 degrees Celsius to yield commercially valuable bio products: bio-oil, wood vinegar (pyroligneous acid), biochar and bio-syngas. The intellectual property is a second-generation pyrolysis process where non-food feedstock like palm biomass wastes is used as feedstock. Upon fulfilling UN’s (United Nations) ACM 22 protocol as well as LCA (Life Cycle Assessment) requirements, it is anticipated that the by-products from this IP with fair value of $30,192,771 would lead to certification and issuance of Carbon Avoidance Credits as well as Carbon Removal Credits to generate carbon revenue for the Company. During this quarter, the Company has not operated the use of its intellectual property rights to generate its revenue. Therefore, no amortization was provided.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Mar. 31, 2023
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 7 – PROPERTY, PLANT AND EQUIPMENT A summary of property and equipment at March 31, 2023 and June 30, 2022 is as follows: March 31, 2023 June 30, 2022 Land and building $ 1,258,360 $ 1,642,102 Plant and machinery 5,477,728 134,198 Office equipment 6,206 23,353 Project equipment - 615,420 Computer 5,382 14,846 Motor vehicle 708,037 225,861 Furniture & fittings 12,931 2,527 7,468,644 2,658,307 Less: accumulated depreciation (195,979 ) (1,707,150 ) Foreign exchange adjustment (110 ) 97,736 $ 7,272,555 $ 1,048,893 Depreciation expense for the three months ended March 31, 2023 and 2022 totaled $97,167 and $4,611, respectively. Depreciation expense for the nine months ended March 31, 2023 and 2022 totaled $177,074 and $9,831, respectively. Land and building with the net carrying value of $729,522 at March 31, 2023 and $746,145 at June 30, 2022 were pledged to a financial institution for facilities granted. A summary of property and equipment reclassified to assets of disposal group held for sale is as follows: March 31, 2023 June 30, 2022 Land and building $ 889,180 $ - Plant and machinery 15,393 - Office equipment 17,804 - Project equipment 613,294 - Computer 10,487 - Motor vehicle 33,520 - 1,579,678 - Less: accumulated depreciation (1,584,909 ) - Foreign exchange adjustment 5,473 - $ 242 $ -

DEPOSITS PAID

DEPOSITS PAID	9 Months Ended
	Mar. 31, 2023
DEPOSITS PAID
DEPOSITS PAID	NOTE 8 – DEPOSITS PAID At March 31, 2023 and June 30, 2022, deposits consist of the following: March 31, 2023 June 30, 2022 Deposits paid for acquisition of subsidiaries - Bio Resources Limited (#1) - 25,935,550 - Vata VM Synergy (M) Sdn Bhd (“VATA”) (#2) $ 22,609 $ - $ 22,609 $ 25,935,550 Deposits paid for acquisition of property, plant and equipment (#3) - 5,000,000 Security deposit - Factory site (#4) 80,000 80,000 - Land and building (#5) $ - $ 240,000 $ 80,000 $ 320,000 (#1) The Company announced the Share Sale Agreement on May 12, 2021 for the acquisition of the entire issued and paid-up share capital of Bio Resources Limited from Taipan International Limited, an unrelated third party, The Wision Project Limited (formerly known as “Borneo Resources Limited”), an unrelated third party, and other unrelated third party individuals, in consideration of issuance of 321,500,000 shares of the Company’s restricted Common Stock at $0.03 per share, valued at $9,645,000, and the issuance of promissory notes with two-year term period with a principal amount of $20,355,000. 321,500,000 shares were issued on May 12, 2021 and the promissory notes were issued on May 12, 2021. The face value (principal) amount of $20,355,000 was convertible into Common Shares within 60 days from October 12, 2022, and bearing zero coupon interest. The promissory note was priced at $16,290,550 considering the market interest rate then. This transaction was subsequently closed on October 12, 2022. (#2) On March 23, 2023, the Company, through its wholly-owned subsidiary Verde Resources (Malaysia) Sdn. Bhd. (“VRM”), entered into a Shares Sale Agreement (the “SSA Agreement”) with Murugesu A/L M. Narasimha and Deivamalar A/P Kandiah (“Vendors”), the legal and beneficial owners of Vata VM Synergy (M) Sdn. Bhd. (“VATA”), a company incorporated under the laws of Malaysia, to acquire 60% of the issued and paid-up share capital of VATA, a company engaged in the business of providing green technology to government and private sectors and in creating high quality compost using agricultural waste and biomass products in Malaysia. In relation to the SSA Agreement, the Company through VRM also entered into a Shareholders Agreement with Murugesu A/L M. Narasimha and VATA. Under the terms of the SSA Agreement, the consideration for the acquisition of 60% of the issued and paid-up share capital of VATA shall be satisfied by the total purchase consideration of MYR 2,250,000, which includes a first payment of MYR100,000 upon the execution of the SSA Agreement, a second payment of MYR 150,000 within thirty (30) days from the date of fulfillment or waiver of all the conditions set out in the SSA Agreement, and the issuance of shares of the Company’s restricted Common Stock for the balance consideration of MYR 2,000,000 at a price per share of not more than ten percent (10%) discount from the immediate preceding five trading days volume weighted average price (“VWAP”) from the issuance date pursuant to the terms of the SSA Agreement. As of March 31, 2023, the first payment has been made. (#3) On May 10, 2021, the Company announced the Sale and Purchase Agreement to acquire the assets of biofraction plant and the right to use intellectual property license in Sabah, Malaysia from Borneo Energy Sdn Bhd, in consideration of issuance of 166,666,667 share of the Company’s stock at $0.03 per share, valued at $5,000,000. 135,666,667 shares and 31,000,000 shares were issued on May 10, 2021 and July 1, 2021, respectively. The acquisition from Borneo Energy the assets of its biofraction plant and the right to use its licensed intellectual property known as “Catalytic Biofraction Process” in the state of Sabah, Malaysia was completed on February 24,2023. (#4) On March 2, 2022, the Company, through VRAP, entered into a Commercial Lease Agreement and Option to Purchase (“Lease Agreement”) the factory site from Segama Ventures for a lease term of seven (7) years (“Lease Term”) at a monthly rental of MYR 36,000 ($8,571). The rental for the entire Lease Term amounts to the sum of MYR 3,024,000 ($720,000) (the “Lease Payment”) which shall be paid in advance upon commencement of the Lease Agreement together with a payment of security deposit for the sum of MYR 336,000 ($80,000) (the “Security Payment”). (#5) On February 10, 2022, the Company, through VEL, a limited liability company incorporated in the State of Missouri, which is an indirect wholly-owned subsidiary of the Company via Verde Renewables, Inc., entered into a Commercial Lease Agreement and Option to Purchase (the “Lease Agreement”) a 24-acre property in La Belle from Jon Neal Simmons and Betty Jo Simmon (the “Landlord”) in order to kickstart carbon farming with biochar in Missouri. Under the Lease Agreement, the term of the lease will be for a period of two (2) years and the Company will have the right to renew the lease with a total of three renewal periods with each term being two years. The monthly base rent is $10,000 for the term, was payable on the commencement of the Lease Agreement, together with a security deposit of $240,000. The Lease Agreement also grants the Company the exclusive right and option to purchase the premises together with all the right title and interest from the Landlord for a consideration of $490,000 at any time during the two-year term of the lease. If the Company exercises the option to purchase the premises from the Landlord, the upfront lease payment and security deposit may be utilized as part payment of the purchase consideration. The option to purchase was exercised on September 27, 2022.

MINING RIGHT

MINING RIGHT	9 Months Ended
	Mar. 31, 2023
MINING RIGHT
MINING RIGHT	NOTE 9 - MINING RIGHT A lump sum payment of MYR260,500 ($62,260) was made for a mining right over a period of 2 years up to June 13, 2023. The mining right is amortized on a straight-line basis over the term of the right. The table below presents the movement of the right as recorded on the balance sheets. Nine months ended March 31, 2023 Year Ended June 30, 2022 Balance as at July 1, 2022 and July 1, 2021 $ 27,088 $ 60,131 Amortization charge for the period (21,812 ) (30,779 ) Foreign exchange adjustment (368 ) (2,264 ) Reclassified to assets held for sale (4,908 ) - Balance as of March 31, 2023 and June 30, 2022 $ - $ 27,088 Amortization charge of mining right was $7,418 and $8,150 for the three months ended March 31, 2023 and 2022, respectively. Amortization charge of mining right was $21,812 and $23,345 for the nine months ended March 31, 2023 and 2022, respectively.

DISPOSAL GROUP HELD FOR SALE

DISPOSAL GROUP HELD FOR SALE	9 Months Ended
	Mar. 31, 2023
DISPOSAL GROUP HELD FOR SALE
DISPOSAL GROUP HELD FOR SALE	NOTE 10 – DISPOSAL GROUP HELD FOR SALE On March 13, 2023, the Company through its wholly-owned subsidiary Verde Resources Asia Pacific Limited (“VRAP”) (fka Gold Billion Global Limited), a company incorporated under the laws of the British Virgin Islands, entered into a Share Sale Agreement (the “SSA Agreement”) with Jusra Mining Merapoh Sdn Bhd (“JMM”), a company incorporated under the laws of Malaysia, to sell the entire issued and paid-up share capital of Champmark Sdn Bhd (“CSB”), an indirect wholly-owned subsidiary of the Company engaged in the mining business. Under the terms of the SSA Agreement, the consideration for the sale of the entire issued and paid-up share capital of CSB shall be satisfied in full by the payment of Malaysia Ringgit MYR 500,000. The disposal is pending completion as at Mar 31, 2023 and this the assets and liabilities have been presented separately in the balance sheets as assets held for sale an liabilities held for sale respectively. The disposal was subsequently completed on April 20, 2023. March 31, 2023 June 30, 2022 Assets classified as held for sale Cash and cash equivalents $ 5,376 $ - Property, plant and equipment, net 242 - Mining rights 4,908 - Other receivables and deposits 9,044 - 19,570 - Liabilities classified as held for sale Accounts payable $ 14,758 $ - Accrued liabilities and other payables 25,249 - 40,007 - The carrying value of property, plant and equipment of the disposal group is the same as its carrying value before it was reclassified to assets held for sale and liabilities held for sale.

AMOUNTS DUE TO RELATED PARTIES

AMOUNTS DUE TO RELATED PARTIES	9 Months Ended
	Mar. 31, 2023
AMOUNTS DUE TO RELATED PARTIES
AMOUNTS DUE TO RELATED PARTIES	NOTE 11 – AMOUNTS DUE TO RELATED PARTIES The following breakdown of the balances due to related parties, consisted of:- March 31, 2023 June 30, 2022 Borneo Oil Corporation Sdn Bhd (formerly known as Borneo Oil and Gas Corporation Sdn Bhd) (“BOC”) $ 43,740 $ 555,527 Borneo Energy Sdn Bhd 15,599 - Taipan International Limited 119,153 - 178,492 555,527 Borneo Oil Berhad (“BOB”) (holding 13.4% and 22.8% of the Company’s issued and outstanding Common Stock as of March 31, 2023 and June 30, 2022, respectively) is the holding company of BOC and Borneo Energy Sdn Bhd. The advances are related to ordinary business transactions and bear no interest or collateral, repayable and renewable under normal business advancement terms. Taipan International Limited is one of the shareholders of the Company, and held 33.4% of the Company’s issued and outstanding Common Stock as of March 31, 2023. The advances are related to ordinary business transactions and bear no interest or collateral, repayable and renewable under normal business advancement terms.

PROMISSORY NOTES

PROMISSORY NOTES	9 Months Ended
	Mar. 31, 2023
PROMISSORY NOTES
PROMISSORY NOTES	NOTE 12 – PROMISSORY NOTES March 31, 2023 June 30, 2022 Promissory Notes (#1) $ - $ 18,484,028 Promissory Notes (#2) 481,023 - $ 481,023 $ 18,484,028 (#1) On May 13, 2021, the Company announced the Share Sale Agreement dated May 12, 2021 for the acquisition of the entire issued and paid-up share capital of Bio Resources Limited from Taipan International Limited, an unrelated third party, The Wision Project Limited (formerly known as “Borneo Resources Limited”), an unrelated third party, and other unrelated third party individuals, in consideration of issuance of 321,500,000 shares of the Company’s restricted Common Stock at $0.03 per share, valued at $9,645,000, and the issuance of promissory notes with two-year term period with a principal amount of $20,355,000. 321,500,000 shares and the promissory notes were issued on May 12, 2021. The face value (principal) amount of $20,355,000 was repayable by May 12, 2023, and bearing zero coupon interest. On January 20, 2022, the Company had reached a mutual agreement with the Lenders of the Notes to enter into a Supplement to Promissory Note with each Lender, to convert the total principal loan amount of $20,355,000 into shares of the Company’s restricted Common Stock priced at $0.0611 per share, which represents the last ninety (90) days’ volume weighted average price (VWAP) as of the market closing of January 19, 2022. With the consummation of the acquisition of BRL on October 12, 2022, on December 9, 2022 the conversion of Promissory Notes was completed pursuant to a Supplementary Agreement dated December 7, 2022, with the issuance of 333,142,389 shares of the Company’s restricted Common Stock, at the price of $0.0611 per share, to the 17 Lenders, including the Company’s President and CEO, Jack Wong. The fair value of the outstanding promissory notes as of June 30, 2022 was calculated with the following assumptions: Risk free rate 0.268 % Credit spread 6.513 % Liquidity risk premium 5.000 % The following is a reconciliation of the beginning and ending balances of promissory notes payable using Level 3 inputs: March 31, June 30, 2023 2022 Balance at the beginning of period or year $ 18,484,028 $ 16,535,942 Interest expense 1,870,972 1,948,086 Converted to Company’s restricted Common Stock (20,355,000 ) - Balance at the end of period or year $ - $ 18,484,028 (#2) On March 13, 2023, the Company and its indirect wholly-owned subsidiary CSB entered into a Settlement of Debts Agreement (the “SDA Agreement”) and a two year term period Promissory Note with CSB’s creditor, Borneo Oil Corporation Sdn Bhd (formerly known as Borneo Oil and Gas Corporation Sdn Bhd) (“BOC”) to settle in full a total of $675,888 of CSB’s account payable to the BOC either in cash or by the issuance of new restricted shares of the Company’s Common Stock at a price of $0.07 per share. As set out in the SDA Agreement, the new restricted shares for settlement of the account payable to BOC shall be issued to BOC or its nominee. Promissory Notes with the face value (principal) amount of $675,888, bearing 2% coupon interest were issued on March 13, 2023 and repayable by May 12, 2025, either in cash or by the issuance of the Company’s restricted Common Stock priced at $0.07 per share. The fair value of the Promissory Notes of $481,023 was calculated using the net present value of estimated future cash flows with the assumptions of risk free rate at 4.03%, credit spread of 11.6% and liquidity risk premium of 5.6%. The Company recorded $0 and $486,978 interest expense for the three months ended March 31, 2023 and 2022, respectively. The Company recorded $1,870,972 and $1,441,911 interest expense for the nine months ended March 31, 2023 and 2022, respectively.

LEASES

LEASES	9 Months Ended
	Mar. 31, 2023
LEASES
LEASES	NOTE 13 - LEASES The Company adopted ASU No. 2016-02, Leases and determines whether an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys the right to control the use of an identified fixed asset explicitly or implicitly for a period of time in exchange for consideration. Control of an underlying asset is conveyed if we obtain the rights to direct the use of and to obtain substantially all of the economic benefit from the use of the underlying asset. Some of our leases include both lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient. Some of the operating lease agreements include variable lease costs, primarily taxes, insurance, common area maintenance or increases in rental costs related to inflation. Substantially all of our equipment leases and some of our real estate leases have terms of less than one year and, as such, are accounted for as short-term leases as we have elected the practical expedient. Operating leases are included in the right-of-use lease assets, and current and non-current lease liabilities on the Unaudited Condensed Consolidated Balance Sheet. Right-of-use assets and lease liabilities are recognized at each lease’s commencement date based on the present values of its lease payments over its respective lease term. When a borrowing rate is not explicitly available for a lease, the incremental borrowing rate is used based on information available at the lease’s commencement date to determine the present value of its lease payments. Operating lease payments are recognized on a straight-line basis over the lease term. The Company adopts a 5% as weighted average incremental borrowing rate to determine the present value of the lease payments. The weighted average remaining life of the lease was 3 years. The table below presents the lease-related assets and liabilities recorded on the balance sheet. March 31, 2023 June 30, 2022 Assets Right-of-use asset (#1) $ 608,572 $ 685,714 Right-of-use asset (#2) 54,883 - 663,455 685,714 Liabilities Current: Operating lease liabilities $ 19,851 $ - Finance lease liabilities $ 171,538 $ 75,224 Non-current: Operating lease liabilities $ 35,032 $ - Finance lease liabilities 654,979 97,900 Total lease liabilities $ 881,400 $ 173,124 As of March 31, 2023, right-of-use assets were $663,455 and lease liabilities were $881,400. As of June 30, 2022, right-of-use assets were $685,714 and lease liabilities were $173,124. For the three months ended March 31, 2023 and 2022, the amortization charge on right-of use assets was $30,141 and $0, respectively. For the nine months ended March 31, 2023 and 2022, the amortization charge on right-of-use assets was $87,169 and $0, respectively. (#1) This leasing arrangement for the lease of the Segama factory amounting to $720,000 is for a lease term of seven (7) years and includes an exclusive right and option to purchase the factory site, together with all its right title and interest, for a consideration to be mutually agreed between the parties at any time during the period of two years from the date of the Lease Agreement. The Lease Payment and Security Payment shall be applied toward the Purchase Price upon VRAP exercising the option to purchase. The Company’s lease agreements do not contain any material restrictive covenants. There are no corresponding lease liabilities recorded as the lease payments for the entire lease period has been paid upfront upon inception of the agreement. (#2)This leasing arrangement for the lease of the executive vehicle amounting to $84,718 is for a lease term of three (3) years and includes option to purchase the said vehicle at an agreed consideration as stated in the Lease Agreement. The purchase option fee shall be applied toward the Purchase Price upon VRI exercising the option to purchase. The Company’s lease agreements do not contain any material restrictive covenants. The Company excludes short-term leases (those with lease terms of less than one year at inception) from the measurement of lease liabilities or right-of-use assets. The following tables summarize the lease expense for the periods. Nine Months ended March 31, 2023 2022 Finance lease cost: Interest on lease liabilities (per ASC 842) $ 22,237 $ - Operating lease cost: Operating lease expense (per ASC 842) 93,614 28,571 Total lease expense $ 115,851 $ 28,571 Components of Lease Expense The Company recognizes operating lease expense on a straight-line basis over the term of the operating leases, comprising interest expense determined using the effective interest method, and amortization of the right-of-use asset, as reported within “general and administrative” expense on the accompanying unaudited condensed consolidated statement of operations. Finance lease expense comprise of interest expenses determined using the effective interest method. Future Contractual Lease Payments as of March 31, 2023 The below table summarizes our (i) minimum lease payments over the next five years, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the next five years and thereafter ending March 31: Years ending March 31, Operating and finance lease amount 2024 $ 191,389 2025 149,972 2026 145,996 2027 143,469 2028 108,637 Thereafter 141,937 Total minimum finance lease liabilities installment payment $ 881,400 Representing:- Current liabilities $ 191,389 Non-current liabilities 690,011 $ 881,400

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	9 Months Ended
	Mar. 31, 2023
STOCKHOLDERS EQUITY
STOCKHOLDERS' EQUITY	NOTE 14 - STOCKHOLDERS’ EQUITY Authorized Stock The Company has authorized 10,000,000,000 Common Shares and 50,000,000 preferred shares, both with a par value of $0.001 per share. Each Common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. Preferred stock outstanding There are no preferred shares outstanding as of March 31, 2023 and June 30, 2022. Common Stock outstanding On July 15, 2022, the Company issued a total of 1,500,000 restricted Common Shares at US$0.155 per share to two consultants pursuant to two consultant agreements; 1,000,000 restricted Common Shares were issued to Gary F. Zimmer and 500,000 restricted Common Shares were issued to Lisa Leilani Zimmer Durand, to serve as consultants to the Company. An aggregate of $232,500 was recognized as stock-based compensation under general and administrative expenses during the period ended September 30,2022. During period ended September 30, 2022, 15,328,029 restricted Common Shares were committed to be issued pursuant to private placement and were subsequently issued on November 7, 2022, comprising of 291,667 restricted Common Shares for US$21,000 at US$0.072 per share to one non-US shareholder, 15,036,362 restricted Common Shares for US$1,323,200 at US$0.088 per share to five non-US Shareholders . On November 7, 2022, the Company issued 603,181 restricted Common Shares for US$53,080 at US$0.088 per share to three US Shareholders. On October 26, 2022, the Company entered into a corporate consulting services agreement (the “Consulting Agreement”) for investor communication and public relations services with Dutchess Group LLC (“DGL”). On December 9, 2022, pursuant to terms of the Consulting Agreement, the Company issued a total of 1,500,000 restricted Common Shares at US$0.12 per share to DGL. On November 30, 2022, the Company, through its wholly-owned subsidiary Verde Renewables, Inc.(“VRI”), a company incorporated in the State of Missouri, U.S.A., entered into a Services Agreement (the “Agreement”) with YM Tengku Chanela Jamidah YAM Tengku Ibrahim to engage her as its Director of Strategic Initiatives to promote and make introductions for the benefit of advancing the Company’s business and interests amongst her networks as designated in the Agreement. Under the Agreement, the Company will pay YM Tengku Chanela Jamidah YAM Tengku Ibrahim by the issuance of 1,000,000 shares of the Company’s restricted Common Stock, par value $0.001 per share (the “Common Stock”) in two tranches of 500,000 shares each on or before December 31, 2022 and December 31, 2023 respectively. The term of the Agreement will be for a fixed period of twenty-four (24) months commencing on November 30, 2022 and both parties may renew the agreement or enter into a new agreement as may be mutually agreed on terms to be separately negotiated. On December 31, 2022, pursuant to terms of the Services Agreement, the Company issued a total of 500,000 restricted Common Shares at US$0.20 per share to YM Tengku Chanela Jamidah YAM Tengku Ibrahim. On December 1, 2022, the Company through its wholly-owned subsidiary VRI, a company incorporated in the State of Missouri, U.S.A., entered into a Services Agreement (the “Agreement”) with Steven Sorhus to engage him as its Financial Controller to prepare monthly financial reports and financial projections, and oversee daily accounting practices of the Company and its subsidiaries as designated in the Agreement. Under the Agreement, the Company will pay Steven Sorhus by the issuance of 800,000 shares of the Company’s restricted Common Stock, par value $0.001 per share (the “Common Stock”) in two tranches of 300,000 shares on or before December 31, 2022 and 500,000 shares on or before December 31, 2023. The term of the Agreement will be for a fixed period of twenty-five (25) months commencing on December 1, 2022 and both parties may renew the agreement or enter into a new agreement as may be mutually agreed on terms to be separately negotiated. On December 31, 2022, pursuant to terms of the Agreement, the Company issued a total of 300,000 restricted Common Shares at US$0.20 per share to Steven Sorhus. On December 1, 2022, the Company through its wholly-owned subsidiary VRI, a company incorporated in the State of Missouri, U.S.A., entered into a Services Agreement (the “Agreement”) with EMGTA LLC (“EMGTA”). Under the Agreement, EMGTA will provide services to develop business plan and marketing strategy to facilitate business growth, and identify new customers and markets for the Company. The Company will pay EMGTA by the issuance of 750,000 shares of the Company’s restricted Common Stock, par value $0.001 per share (the “Common Stock”) in two tranches of 375,000 shares each on or before December 31, 2022 and December 31, 2023 respectively. The term of the Agreement will be for a fixed period of twenty-five (25) months commencing on December 1, 2022 and both parties may renew the agreement or enter into a new agreement as may be mutually agreed on terms to be separately negotiated. On December 31, 2022, pursuant to terms of the Agreement, the Company issued a total of 375,000 restricted Common Shares at US$0.20 per share to EMGTA. On December 15, 2022, the Company entered into a Services Agreement (the “Agreement”) with Looi Pei See to engage her as its consultant to develop the retail markets for the Company’s products and services in Malaysia and Singapore. On December 31, 2022, pursuant to terms of the Consulting Agreement, the Company issued a total of 1,140,000 restricted Common Shares at US$0.20 per share to Looi Pei See. The term of the Agreement will be for a fixed period of thirty-six (36) months. On February 17, 2023, the Company issued 714,285 restricted Common Shares for $50,000 at $0.07 per share to one non-US shareholder. On February 24, 2023, the acquisition of the assets of biofraction plant and the right to use intellectual property license in Sabah, Malaysia from Borneo Energy Sdn Bhd was completed. The Company had announced the Sale and Purchase Agreement to acquire the assets of biofraction plant and the right to use intellectual property license in Sabah, Malaysia from Borneo Energy Sdn Bhd on May 10, 2021, in consideration of issuance of 166,666,667 share of the Company’s stock at $0.03 per share, valued at $5,000,000. 135,666,667 shares and 31,000,000 shares were issued on May 10, 2021 and July 1, 2021, respectively. On March 13, 2023, the Company and its indirect wholly-owned subsidiary CSB entered into a Settlement of Debts Agreement (the “SDA Agreement”) and a two year term period Promissory Note with CSB’s creditor Borneo Oil Corporation Sdn Bhd (the “Creditor”) to settle in full a total of USD 675,888 of CSB’s account payable to the Creditor either in cash or by the issuance of new restricted shares of the Company’s Common Stock at a price of $0.07 per share. As set out in the SDA Agreement, the new restricted shares for settlement of the account payable to the Creditor shall be issued to the Creditor or its nominee. On March 23, 2023, the Company, through its wholly-owned subsidiary Verde Resources (Malaysia) Sdn. Bhd. (“VRM”), entered into a Shares Sale Agreement (the “SSA Agreement”) with Murugesu A/L M. Narasimha and Deivamalar A/P Kandiah (“Vendors”), the legal and beneficial owners of Vata VM Synergy (M) Sdn. Bhd. (“VATA”), a company incorporated under the laws of Malaysia, to acquire 60% of the issued and paid-up share capital of VATA, a company engaged in the business of providing green technology to government and private sectors and in creating high quality compost using agricultural waste and biomass products in Malaysia. In relation to the SSA Agreement, the Company through VRM also entered into a Shareholders Agreement with Murugesu A/L M. Narasimha and VATA. Under the terms of the SSA Agreement, the consideration for the acquisition of 60% of the issued and paid-up share capital of VATA shall be satisfied by the total purchase consideration of Malaysia Ringgit MYR 2,250,000, which includes a first payment of Malaysia Ringgit MYR 100,000 upon the execution of the SSA Agreement, a second payment of Malaysia Ringgit MYR 150,000 within thirty (30) days from the date of fulfillment or waiver of all the conditions set out in the SSA Agreement, and the issuance of shares of the Company’s restricted Common Stock for the balance consideration of Malaysia Ringgit MYR 2,000,000 at a price per share of not more than ten percent (10%) discount from the immediate preceding five trading days volume weighted average price (“VWAP”) from the issuance date pursuant to the terms of the SSA Agreement. There were 1,174,290,939 and 819,188,055 shares of Common Stock issued and outstanding at March 31, 2023 and June 30, 2022, respectively. The Company has no stock option plan, warrants, or other dilutive securities issued during the period.

INCOME TAX

INCOME TAX	9 Months Ended
	Mar. 31, 2023
INCOME TAX
INCOME TAX	NOTE 15 - INCOME TAX For the nine months ended March 31, 2023 and 2022, the local (“United States of America”) and foreign components incurred loss before income taxes as follows: Nine Months ended March 31, 2023 2022 Tax jurisdiction from: - Local (US regime) $ (3,344,881 ) $ (2,608,660 ) - Foreign, including British Virgin Island (338,002 ) - Malaysia (375,897 ) (112,901 ) Labuan, Malaysia (8,935 ) - Loss before income taxes $ (4,067,715 ) $ (2,721,561 ) The provision for income taxes consisted of the following: Nine Months ended March 31, 2023 2022 Current tax: - Local $ - $ - - Foreign - - Deferred tax - Local - - - Foreign - - Income tax expense (benefit) $ - $ - The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rates. The Company mainly operates in U.S.A. and Malaysia and are subject to taxes in the jurisdictions in which they operate, as follows: United States of America VRDR, VRI and VLI are subject to the tax laws of United States of America. The U.S. Tax Cuts and Jobs Act (the “Tax Reform Act”) was signed into law. The Tax Reform Act significantly revised the U.S. corporate income tax regime by, among other things, lowering the U.S. corporate tax rate from 35% to 21% effective January 1, 2018. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits in its income tax provision. The Company has not accrued or paid interest or penalties which were not material to its results of operations for the periods presented. The Company has provided for a full valuation allowance against the deferred tax assets of $962,630 on the expected future tax benefits from the net operating loss (“NOL”) carry forwards of $4,583,951 as the management believes it is more likely than not that these assets will not be realized in the future. Net Operating Losses (NOLs) generated prior to January 1, 2018 are able to be carried forward up to twenty subsequent years. Any NOLs created for tax years subsequent to that may be carried forward indefinitely. However, any NOLs arising from tax years ending after December 31, 2020, can only be used to offset up to 80% of taxable income. For the nine months ended March 31, 2023 and 2022, there were no operating income under US tax regime. BVI Under the current BVI law, VRAP is not subject to tax on income. Labuan Under the current laws of the Labuan applicable to BRL, income derived from an intellectual property right is subject to tax under the Malaysian Income Tax Act 1967 (ITA) at 24% of its chargeable income. However, BRL is not subject to income tax, given that it was a net loss position during the current period presented. The losses are presently not able to be carried forward to offset against its future operation income as income generating activities have not yet been undertaken. Malaysia VRSB, Champmark and Wision are registered in Malaysia and are subject to the Malaysian corporate income tax at a standard income tax rate of 24% on chargeable income. For the nine months ended March 31, 2023, the operation in Malaysia incurred $5,750,759 of cumulative net operating losses which can be carried forward to offset future taxable income. The net operating loss are allowed to be carried forward up to a maximum of ten (10) years of assessments under the current tax legislation in Malaysia. The Company has provided for a full valuation allowance against the deferred tax assets of $1,380,182 on the expected future tax benefits from the net operating loss (“NOL”) carryforwards as the management believes it is more likely than not that these assets will not be realized in the future. Nine Months ended March 31, 2023 2022 Loss before income taxes $ (375,897 ) $ (112,901 ) Statutory income tax rate 24 % 24 % Income tax expense at statutory rate (90,215 ) (27,096 ) Non-deductible items 9,850 3,781 Operating losses unable to carried forward 2,144 - Net operating loss 78,221 23,315 Income tax expense $ - $ - The following table sets forth the significant components of the deferred tax assets of the Company: March 31, 2023 June 30, 2022 Deferred tax assets: Net operating loss carryforwards, from US tax regime $ 962,630 $ 169,688 Malaysia tax regime 1,380,182 1,259,662 Less: valuation allowance (2,342,812 ) (1,429,350 ) Deferred tax assets, net $ - $ - The Company has recorded valuation allowances for certain tax attribute carry forwards and other deferred tax assets due to uncertainty that exists regarding future realizability. If in the future the Company believes that it is more likely than not that these deferred tax benefits will be realized, the majority of the valuation allowances will be reversed in the unaudited condensed consolidated statement of operations. The Company did not have any interest and penalty provided or recognized in the income statements for the nine months ended March 31, 2023 and 2022. The Company did not have uncertainty tax positions or events leading to uncertainty tax position within the next 12 months.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Mar. 31, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 16 - RELATED PARTY TRANSACTIONS Nine Months ended March 31, 2023 2022 Related party transactions: Sales to: Borneo Eco Food Sdn Bhd (#2) $ 12,305 $ - Rental income: Mr. Jack Wong (#5) $ 32,967 $ - Other income – Sales of wash sand to: Jusra Mining Merapoh Sdn Bhd (#1) $ - $ 12,115 Site expenses: Warisan Khidmat Sdn Bhd (#3) $ 9,831 $ - Professional services provided by: Warisan Khidmat Sdn Bhd (#3) $ 14,067 $ - Related party balances: As of March 31, 2023 June 30, 2022 Trade receivables Borneo Eco Food Sdn Bhd (#2) $ 901 $ 5,933 Deposits paid for acquisition of property, plant and equipment Borneo Energy Sdn Bhd (#2) $ - $ 5,000,000 Trade Payables Warisan Khidmat Sdn Bhd (#3) $ - $ 7,253 Advanced from related parties Advanced from BOC (#4) $ 43,740 $ 555,527 Advanced from Borneo Energy Sdn Bhd (#2) $ 15,599 $ - Taipan International Limited (#6) $ 119,153 $ - Advanced to related party Vetrolysis Limited (#7) $ 100 $ - Advanced from Director Mr. Carl M. Craven $ - $ - Mr. Jack Wong (#5) $ 16,776 $ - (#1) Lamax Gold Limited (“LGL”) held 15% equity interests of Champmark Sdn Bhd which was disposed on October 20, 2021 to Verde Resources Asia Pacific Limited (formerly known as Gold Billion Global Limited) and is also the major shareholder of Jusra Mining Merapoh Sdn Bhd. (#2) Borneo Oil Berhad (“BOB”) is ultimate holding company of Borneo Eco Food Sdn. Bhd. and Borneo Energy Sdn Bhd, and held 13.4% and 22.8% of the Company’s issued and outstanding Common Stock as of March 31, 2023 and June 30, 2022, respectively. (#3) Warisan Khidmat Sdn. Bhd. is a company whose shareholdings is entirely held by Director of VRSB. (#4) Borneo Oil Corporation Sdn Bhd (formerly known as Borneo Oil and Gas Corporation Sdn Bhd) (“BOC”) is a wholly owned subsidiary of Borneo Oil Berhad (“BOB”) (holding 13.4% and 22.8% of the Company’s issued and outstanding Common Stock as of March 31, 2023 and June 30, 2022, respectively). The advances are related to ordinary business transactions and bear no interest or collateral, repayable and renewable under normal business advancement terms. (#5) Mr. Jack Wong is the President and Chief Executive of the Company effective October 1, 2022. Effective March 30, 2023, Carl Craven voluntarily resigned from his position as Director of the Company. By resolution of the Board of Directors, Jack Wong was appointed Director of the Company for a one (1) year term, effective March 30, 2023. Jack Wong will hold the Board position formerly held by Carl Craven. (#6) Taipan International Limited is one of the shareholders of the Company, and held 33.4% of the Company’s issued and outstanding Common Stock as of March 31, 2023. (#7) Encik Anuar bin Ismail, an indirect significant shareholder, is a director of Vetrolysis Limited. Apart from the transactions and balances detailed above and elsewhere in these accompanying unaudited condensed consolidated financial statements, the Company has no other significant or material related party transactions during the periods presented.

CONCENTRATIONS OF RISK

CONCENTRATIONS OF RISK	9 Months Ended
	Mar. 31, 2023
CONCENTRATIONS OF RISK
CONCENTRATIONS OF RISK	NOTE 17 - CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a) Major customers For the three and nine months ended March 31, 2023 and 2022, there was no single customer whose revenue exceeded 10% of the revenue. (b) Economic and political risk The Company’s major operations are conducted in U.S.A. and Malaysia. Accordingly, the political, economic, and legal environments in U.S.A. and Malaysia, as well as the general state of U.S.A. and Malaysia’s economy may influence the Company’s business, financial condition, and results of operations. (c) Exchange rate risk The Company cannot guarantee that the current exchange rate will remain steady; therefore there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of HKD converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 18 - COMMITMENTS AND CONTINGENCIES As of March 31, 2023, the Company had the following capital commitment: a) commitment to issue restricted Common Shares to the following service provideron or before December 31, 2023 for services to be performed pursuant to the Service Agreements signed as disclosed in Note 14 on or before December 31, 2023: Number of shares to be issued EMGTA LLC 375,000 YM Tengku Chanela Jamidah YAM Tengku Ibrahim 500,000 Steven Sorhus 500,000 1,375,000 b) commitment to repay Promissory Notes with the face value (principal) amount of $675,888, bearing 2% coupon interest by May 12, 2025 in cash or by issuance of the Company’s restricted Common Shares priced at $0.07 per share as disclosed in Note 12. c) commitment to pay MYR 150,000 within thirty (30) days from the date of fulfillment or waiver of all the conditions set out in the Shares Sale Agreement (the “SSA Agreement”) for acquisition of 60% of the issued and paid-up share capital of Vata VM Synergy (M) Sdn. Bhd. (“VATA”), and the issuance of shares of the Company’s restricted Common Stock for the balance consideration of MYR 2,000,000 at a price per share of not more than ten percent (10%) discount from the immediate preceding five trading days volume weighted average price (“VWAP”) from the issuance date pursuant to the terms of the SSA Agreement as disclosed in Note 8. As of March 31, 2023, the Company has no material contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 19 - SUBSEQUENT EVENTS On April 20, 2023, the disposition of Champmark Sdn Bhd (“CSB”) was completed. The Company had announced the Share Sale Agreement to sell the entire issued and paid-up share capital of CSB to Jusra Mining Merapoh Sdn Bhd (“JMM”) on March 13, 2023. The consideration for the sale of the entire issued and paid-up share capital of CSB shall be satisfied in full by the payment of Malaysia Ringgit MYR 500,000. On April 21, 2023, the Company issued 1,428,571 restricted Common Shares for $100,000 at $0.07 per share and 480,768 restricted Common Shares for $50,000 at $0.104 per share to one non-US shareholder. In accordance with ASC Topic 855, “ Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Mar. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States (“GAAP”), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, the condensed consolidated balance sheet as of June 30, 2022 which has been derived from audited financial statements and these unaudited condensed consolidated financial statements reflect all normal and recurring adjustments considered necessary to state fairly the results for the periods presented. The results for the period ended March 31, 2023 are not necessarily indicative of the results to be expected for the entire fiscal year ending June 30, 2023 or for any future period. These unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Management’s Discussion and the audited financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended June 30, 2022, filed with the SEC on November 4, 2022.
Use of Estimates and Assumptions	The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s periodic filings with the Securities and Exchange Commission include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. In preparing these unaudited condensed consolidated financial statements, management makes estimates and assumptions that affect the reported amounts of assets and liabilities in the balance sheet and revenues and expenses during the periods reported. Actual results may differ from these estimates.
Basis of Consolidation	The unaudited condensed consolidated financial statements include the financial statements of Verde Resources, Inc. and its subsidiaries. All significant inter-company balances and transactions within the Company and its subsidiaries have been eliminated upon consolidation. The Company accounts for acquisitions in accordance with guidance found in ASC 805, Business Combinations. The guidance requires consideration given, including contingent consideration, assets acquired, and liabilities assumed to be valued at their fair market values at the acquisition date.
Segment Reporting	Accounting Standard Codification (“ASC”) Topic 280, Segment Reporting
Concentrations of Credit Risk	The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents and related party payables it will likely incur in the near future. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. At times, its cash and cash equivalents with a particular financial institution may exceed any applicable government insurance limits. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
Risks and Uncertainties	The Company operates in the resource exploration industry and the production and distribution of renewable commodities that are subject to significant risks and uncertainties, including financial, operational, technological, and other risks associated with operating a resource exploration business and a production operation for renewable commodities, including the potential risk of business failure.
Cash and Cash Equivalents	Cash and cash equivalents are carried at cost and represent cash in banks, money market funds, and certificates of term deposits with maturities of less than three months, which are readily convertible to known amounts of cash and which, in the opinion of management, are subject to an insignificant risk of loss in value. The Company had $241,371 and $418,917 in cash and cash equivalents at March 31, 2023 and June 30, 2022. At March 31, 2023 and June 30, 2022, cash and cash equivalents consisted of bank deposits and petty cash on hands.
Accounts Receivable	Accounts receivable are recognized and carried at net realizable value. An allowance for doubtful accounts will be recorded in the period when a loss is probable based on an assessment of specific evidence indicating troubled collection, historical experience, accounts aging, ongoing business relation and other factors. Accounts are written off after exhaustive efforts at collection. If accounts receivable are to be provided for, or written off, they would be recognized in the consolidated statement of operations within operating expenses. At March 31, 2023 and June 30, 2022, the Company has no allowance for doubtful accounts, as per management’s judgment based on their best knowledge. As of March 31, 2023 and June 30, 2022, the longest credit term for certain customers are 60 days.
Inventories	Inventories are stated at the lower of cost or market value (net realizable value), cost being determined on a first-in-first-out method. Costs include material, labor and overhead costs. The Company provides inventory allowances based on excess and obsolete inventories determined principally by customer demand. As of March 31, 2023 and June 30, 2022, the Company did not record an allowance for obsolete inventories, nor have there been any write-offs.
Property, Plant and Equipment	Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: Expected useful life Land and buildings 3-27.5 years Plant and machinery 5-10 years Office equipment 3 years Project equipment 5 years Computer 5 years Motor vehicle 5 years Furniture & fittings 5 years Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterment which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the unaudited condensed consolidated statements of income and other comprehensive income in other income or expenses.
Intangible assets	Intangible assets acquired from third parties are measured initially at fair value, and have a finite lives of 10 years, which are reviewed for indicators of impairment at least annually. These intangible assets are to be amortized over these estimated useful lives on a straight-line basis, upon the success of its commercial operation.
Disposal group held for sale	Disposal group comprising assets and liabilities, that are expected to be recovered primarily through sale rather than through continuing use, are classified as held for sale. Immediately before classification as held for sale, the assets or components of a disposal group, are remeasured at the lower of their carrying amount and fair value less costs of disposal. Mining rights and property, plant and equipment once classified as held for sale are not amortised or depreciated.
Impairment of Long-lived Assets	In accordance with the provisions of ASC Topic 360, Impairment or Disposal of Long-Lived Assets
Revenue Recognition	ASC Topic 606, Revenue from Contracts with Customers The Company applies the following five steps in order to determine the appropriate amount of revenue to be recognized as it fulfills its obligations under each of its agreements: · identify the contract with a customer; · identify the performance obligations in the contract; · determine the transaction price; · allocate the transaction price to performance obligations in the contract; and · recognize revenue as the performance obligation is satisfied. Revenue is recognized when the Company satisfies its performance obligation under the contract by transferring the promised product to its customer that obtains control of the product and collection is reasonably assured. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. Most of the Company’s contracts have a single performance obligation, as the promise to transfer products or services is not separately identifiable from other promises in the contract and, therefore, not distinct. Product sales Revenues from product sales are recognized when the customer obtains control of the Company’s product, which occurs at a point in time, typically upon delivery to the customer. The Company expenses incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that it would have recognized is one year or less or the amount is immaterial. Revenues from product sales are recorded net of reserves established for applicable discounts and allowances that are offered within contracts with the Company’s customers. Product revenue reserves, which are classified as a reduction in product revenues, are generally characterized in the following categories: discounts, returns and rebates. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable as the amount is payable to the Company’s customer. Gold mining Revenue from the sales of gold mineral or other minerals to registered gold trading companies or other customers in Malaysia is recognized as revenue in accordance with the following core principles: at the time of gold or minerals sales, the contract with customers and the performance obligations are identified. The transaction and selling price is determined by the prevailing market value of gold bullion quoted by the leading registered gold trading company in Malaysia or at an agreed price. Sales invoice will be prepared to reflect the proper transaction price based on the performance obligation allocation. After delivery is completed and the performance obligation is satisfied, sales invoice will be presented to the customers and so revenue is then recognized accordingly.
Leases	The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for the operating lease, the Company generally uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. Operating lease right-of-use (“ROU assets”) assets represent the Company’s right to control the use of an identified asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are generally recognized based on the amount of the initial measurement of the lease liability. Lease expense is recognized on a straight-line basis over the lease term. ROU assets are reviewed for impairment when indicators of impairment are present. ROU assets from operating and finance leases are subject to the impairment guidance in ASC Topic 360, Property, Plant, and Equipment ROU assets are tested for impairment individually or as part of an asset group if the cash flows related to the ROU asset are not independent from the cash flows of other assets and liabilities. An asset group is the unit of accounting for long-lived assets to be held and used, which represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. The Company recognized no impairment of ROU assets as of March 31, 2023 and June 30, 2022. The operating lease is included in operating lease right-of-use assets and operating lease liabilities as current and non-current liabilities in the unaudited condensed consolidated balance sheets at March 31, 2023 and June 30, 2022. Leases that transfer substantially all the rewards and risks of ownership to the lessee, other than legal title, are accounted for as finance leases. Substantially all of the risks or benefits of ownership are deemed to have been transferred if any one of the four criteria is met: (i) transfer of ownership to the lessee at the end of the lease term, (ii) the lease containing a bargain purchase option, (iii) the lease term exceeding 75% of the estimated economic life of the leased asset, (iv) the present value of the minimum lease payments exceeding 90% of the fair value. At the inception of a finance lease, we as the lessee records an asset and an obligation at an amount equal to the present value of the minimum lease payments. The leased asset is amortized over the shorter of the lease term or its estimated useful life if title does not transfer to us, while the leased asset is depreciated in accordance with our depreciation policy if the title is to eventually transfer to us. The periodic rent payments made during the lease term are allocated between a reduction in the obligation and interest element using the effective interest method in accordance with the provisions of ASC Topic 842.
Income Taxes	The Company adopted the ASC Topic 740, Income tax The estimated future tax effects of temporary differences between the tax basis of assets and liabilities are reported in the accompanying balance sheets, as well as tax credit carry-backs and carry-forwards. The Company periodically reviews the recoverability of deferred tax assets recorded on its balance sheets and provides valuation allowances as management deems necessary. Uncertain Tax Positions The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the ASC Topic 740 provisions of Section 740-10-25 for the three and nine months ended March 31, 2023 and 2022.
Foreign Currency Translation	The Company’s reporting currency is the United States dollar (“US$”) and the accompanying unaudited condensed consolidated financial statements have been expressed in United States dollars. In addition, some of the Company’s subsidiaries operating in Malaysia maintain their books and records in the local currency, Malaysian Ringgit (“MYR”) which is their functional currency, being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “ Translation of Financial Statement Translation of MYR into U.S. dollars has been made at the following exchange rates for the following periods:- March 31, 2023 March 31, 2022 Period-end MYR:US$ exchange rate 0.22609 0.23784 Average period MYR:US$ exchange rate 0.22328 0.23898
Comprehensive Income	ASC Topic 220, Comprehensive Income
Net Loss per Share	The Company calculates net loss per share in accordance with ASC Topic 260, Earnings per Share
Stock-Based Compensation	The Company accounts for stock-based compensation in accordance with ASC Topic 718-10, Compensation-Stock Compensation The Company accounts for non-employee stock-based awards at fair value in accordance with the measurement and recognition criteria of ASC Topic 505-50, “ Equity-Based Payments to Non-Employees
Mineral Acquisition and Exploration Costs	Mineral property acquisition and exploration costs are expensed as incurred. When it has been determined that a mineral property can be economically developed as a result of establishing proven and probable reserves, the costs incurred to develop such property are capitalized. Such costs will be amortized using the units-of-production method over the estimated life of the probable reserves.
Environmental Expenditures	The operations of the Company have been, and may in the future be affected from time to time in varying degree by changes in environmental regulations, including those for future reclamation and site restoration costs. Both the likelihood of new regulations and their overall effect upon the Company vary greatly and are not predictable. The Company’s policy is to meet or, if possible, surpass standards set by relevant legislation by application of technically proven and economically feasible measures. Environmental expenditures that relate to ongoing environmental and reclamation programs are charged against earnings as incurred or capitalized and amortized depending on their future economic benefits. All of these types of expenditures incurred since inception have been charged against earnings due to the uncertainty of their future recoverability. Estimated future reclamation and site restoration costs, when the ultimate liability is reasonably determinable, are charged against earnings over the estimated remaining life of the related business operation, net of expected recoveries.
Related Parties	The Company follows the ASC 850-10, Related Party Pursuant to section 850-10-20 the related parties include a) affiliates of the Company; b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825–10–15, to be accounted for by the equity method by the investing entity; c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; d) principal owners of the Company; e) management of the Company; f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The unaudited condensed consolidated financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: a) the nature of the relationship(s) involved; b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.
Commitments and contingencies	The Company follows the ASC 450-20, Commitments If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s unaudited condensed consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.
Fair Value of Financial Instruments	The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and has adopted paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, paragraph 820-10-35-37 of the FASB Accounting Standards Codification establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by paragraph 820-10-35-37 of the FASB Accounting Standards Codification are described below: Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3 Pricing inputs that are generally observable inputs and not corroborated by market data. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, accounts receivable, prepayments and other receivables, accounts payable, accrued liabilities and other payables, loans payable, and amounts due to related parties approximate their fair values because of the short maturity of these instruments.
Recent Accounting Pronouncements	During the period ended March 31, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s unaudited condensed consolidated financial statements.

ORGANIZATION AND BUSINESS BAC_2

ORGANIZATION AND BUSINESS BACKGROUND (Tables)	9 Months Ended
	Mar. 31, 2023
ORGANIZATION AND BUSINESS BACKGROUND
Schedule of company information	Company name Place of incorporation Principal activities and place of operation Effective interest held Verde Resources Asia Pacific Limited (“VRAP”) (fka Gold Billion Global Limited) British Virgin Islands Investment holding 100% Verde Resources (Malaysia) Sdn Bhd (“VRSB”) Malaysia Provision of consultation service and distribution of renewable agricultural commodities 100% Verde Renewables, Inc. (“VRI”) State of Missouri, U.S.A. Management of a processing and packaging facility 100% Verde Life Inc. (“VLI”) State of Oregon, U.S.A. Distribution of THC-free cannabinoid (CBD) products 100% Champmark Sdn Bhd (“Champmark”) Malaysia Mining of minerals 100%* The Wision Project Sdn Bhd (“Wision”) Malaysia Digital innovation, marketing & consulting service, PR, branding, influencer marketing, event management and media relations services 100% Verde Estates LLC (“VEL”) State of Missouri, U.S.A. Holding real property 100% Bio Resources Limited (“BRL”) Labuan, Malaysia Provision of proprietary pyrolysis technology and investment holding 100%**

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Mar. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of expected life of Property, Plant and Equipment	Expected useful life Land and buildings 3-27.5 years Plant and machinery 5-10 years Office equipment 3 years Project equipment 5 years Computer 5 years Motor vehicle 5 years Furniture & fittings 5 years
Schedule of foreign currencies translation	March 31, 2023 March 31, 2022 Period-end MYR:US$ exchange rate 0.22609 0.23784 Average period MYR:US$ exchange rate 0.22328 0.23898

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2023
BUSINESS SEGMENT INFORMATION
Schedule of reconciliation of the disaggregated revenue	Three Months ended March 31, 2023 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Licensor of proprietary pyrolysis technology Corporate unallocated Consolidated Revenue $ - $ - $ 10,215 $ 15,896 $ - $ 475 $ 26,586 Cost of revenue - - (44,129 ) - - (179 ) (44,308 ) Gross profit/(loss) - - (33,914 ) 15,896 - 296 (17,722 ) Selling, general & administrative expenses - (300 ) (371,146 ) (47,630 ) (8,282 ) (388,731 ) (816,089 ) Loss from operations - (300 ) (405,060 ) (31,734 ) (8,282 ) (388,435 ) (833,811 ) Interest expenses - - (13,549 ) - - - (13,549 ) Other income - - 42 - - 194,875 194,917 Loss before income tax - (300 ) (418,567 ) (31,734 ) (8,282 ) (193,560 ) (652,443 ) Income tax - - - - - - - Loss from continuing operation - (300 ) (418,567 ) (31,734 ) (8,282 ) (193,560 ) (652,443 ) Loss from discontinued operation (55,884 ) - - - - - (55,884 ) Net loss $ (55,884 ) $ (300 ) $ (418,567 ) $ (31,734 ) $ (8,282 ) $ (193,560 ) $ (708,327 ) Total assets at March 31, 2023 $ 19,570 $ 315,929 $ 1,519,462 $ 1,245,906 $ 30,195,135 $ 5,950,122 $ 39,246,124 Three Months ended March 31, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 16,712 $ - $ - $ 16,712 Cost of revenue - - (86,701 ) - - (86,701 ) Gross loss - - (69,989 ) - - (69,989 ) Selling, general & administrative expenses (43,405 ) (1,378 ) (75,958 ) (180,497 ) (197,536 ) (498,774 ) Loss from operations (43,405 ) (1,378 ) (145,947 ) (180,497 ) (197,536 ) (568,763 ) Interest expenses - - - - (486,977 ) (486,977 ) Other income (17 ) - - 116 - 99 Loss before income tax (43,422 ) (1,378 ) (145,947 ) (180,381 ) (684,513 ) (1,055,641 ) Income tax - - - - - - Loss from continuing operation (43,422 ) (1,378 ) (145,947 ) (180,381 ) (684,513 ) (1,055,641 ) Loss from discontinued operation - - - - - - Net loss $ (43,422 ) $ (1,378 ) $ (145,947 ) $ (180,381 ) $ (684,513 ) $ (1,055,641 ) Total assets as March 31, 2022 $ 317,471 $ - $ 101,066 $ 505,432 33,118,811 $ 34,042,780 Nine Months ended March 31, 2023 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Licensor of proprietary pyrolysis technology Corporate unallocated Consolidated Revenue $ - $ - $ 89,480 $ 39,117 $ - $ 5,441 $ 134,038 Cost of revenue - - (122,758 ) - - (1,145 ) (123,903 ) Gross (loss)/profit - - (33,278 ) 39,117 - 4,296 10,135 Selling, general & administrative expenses - (2,875 ) (1,373,555 ) (134,880 ) (8,935 ) (860,910 ) (2,381,155 ) Loss from operations - (2,875 ) (1,406,833 ) (95,763 ) (8,935 ) (856,614 ) (2,371,020 ) Interest expenses - - (22,237 ) - - (1,870,972 ) (1,893,209 ) Other income - - 678 - - 195,836 196,514 Loss before income tax - (2,875 ) (1,428,392 ) (95,763 ) (8,935 ) (2,531,750 ) (4,067,715 ) Income tax - - - - - - - Loss from continuing operation - (2,875 ) (1,428,392 ) (95,763 ) (8,935 ) (2,531,750 ) (4,067,715 ) Loss from discontinued operation (157,284 ) - - - - - (157,284 ) Net loss $ (157,284 ) $ (2,875 ) $ (1,428,392 ) $ (95,763 ) $ (8,935 ) $ (2,531,750 ) $ (4,224,999 ) Total assets at March 31, 2023 $ 19,570 $ 315,929 $ 1,519,462 $ 1,245,906 $ 30,195,135 $ 5,950,122 $ 39,246,124 Nine Months ended March 31, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 16,712 $ - $ - $ 16,712 Cost of revenue - - (86,701 ) - - (86,701 ) Gross loss - - (69,989 ) - - (69,989 ) Selling, general & administrative expenses (150,781 ) (3,134 ) (93,598 ) (283,239 ) (691,123 ) (1,221,875 ) Loss from operations (150,781 ) (3,134 ) (163,587 ) (283,239 ) (691,123 ) (1,291,864 ) Interest expenses - - - - (1,441,911 ) (1,441,911 ) Other income 12,098 - - 116 - 12,214 Loss before income tax (138,683 ) (3,134 ) (163,587 ) (283,123 ) (2,133,034 ) (2,721,561 ) Income tax - - - - - - Loss from continuing operation (138,683 ) (3,134 ) (163,587 ) (283,123 ) (2,133,034 ) (2,721,561 ) Loss from discontinued operation - - - - - - Net loss $ (138,683 ) $ (3,134 ) $ (163,587 ) $ (283,123 ) $ (2,133,034 ) $ (2,721,561 ) Total assets as March 31, 2022 $ 317,471 $ - $ 101,066 $ 505,432 33,118,811 $ 34,042,780
Schedule of financial information, geographic segment	Three Months ended March 31, Nine Months ended March 31, 2023 2022 2023 2022 Malaysia $ 4,045 $ 16,712 $ 26,278 $ 16,712 United States 22,541 - 107,760 - $ 26,586 $ 16,712 $ 134,038 $ 16,712

OTHER RECEIVABLE AND DEPOSITS (

OTHER RECEIVABLE AND DEPOSITS (Tables)	9 Months Ended
	Mar. 31, 2023
OTHER RECEIVABLE AND DEPOSITS
SCHEDULE OF OTHER RECEIVABLE AND DEPOSITS	March 31, 2023 June 30, 2022 Deposits $ 191,011 $ 118,516 Other receivables 1,116 - $ 192,127 $ 118,516

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Mar. 31, 2023
PROPERTY, PLANT AND EQUIPMENT
Schedule of property plant and equipment	March 31, 2023 June 30, 2022 Land and building $ 1,258,360 $ 1,642,102 Plant and machinery 5,477,728 134,198 Office equipment 6,206 23,353 Project equipment - 615,420 Computer 5,382 14,846 Motor vehicle 708,037 225,861 Furniture & fittings 12,931 2,527 7,468,644 2,658,307 Less: accumulated depreciation (195,979 ) (1,707,150 ) Foreign exchange adjustment (110 ) 97,736 $ 7,272,555 $ 1,048,893
Summary of property and equipment reclassified to assets of disposal group	March 31, 2023 June 30, 2022 Land and building $ 889,180 $ - Plant and machinery 15,393 - Office equipment 17,804 - Project equipment 613,294 - Computer 10,487 - Motor vehicle 33,520 - 1,579,678 - Less: accumulated depreciation (1,584,909 ) - Foreign exchange adjustment 5,473 - $ 242 $ -

Deposits Paid (Tables)

Deposits Paid (Tables)	9 Months Ended
	Mar. 31, 2023
DEPOSITS PAID
Schedule of deposit paid	March 31, 2023 June 30, 2022 Deposits paid for acquisition of subsidiaries - Bio Resources Limited (#1) - 25,935,550 - Vata VM Synergy (M) Sdn Bhd (“VATA”) (#2) $ 22,609 $ - $ 22,609 $ 25,935,550 Deposits paid for acquisition of property, plant and equipment (#3) - 5,000,000 Security deposit - Factory site (#4) 80,000 80,000 - Land and building (#5) $ - $ 240,000 $ 80,000 $ 320,000

MINING RIGHT (Table)

MINING RIGHT (Table)	9 Months Ended
	Mar. 31, 2023
MINING RIGHT
Schedule of Mining Right	Nine months ended March 31, 2023 Year Ended June 30, 2022 Balance as at July 1, 2022 and July 1, 2021 $ 27,088 $ 60,131 Amortization charge for the period (21,812 ) (30,779 ) Foreign exchange adjustment (368 ) (2,264 ) Reclassified to assets held for sale (4,908 ) - Balance as of March 31, 2023 and June 30, 2022 $ - $ 27,088

DISPOSAL GROUP HELD FOR SALE (T

DISPOSAL GROUP HELD FOR SALE (Tables)	9 Months Ended
	Mar. 31, 2023
DISPOSAL GROUP HELD FOR SALE
Schedule of assets held for sale	March 31, 2023 June 30, 2022 Assets classified as held for sale Cash and cash equivalents $ 5,376 $ - Property, plant and equipment, net 242 - Mining rights 4,908 - Other receivables and deposits 9,044 - 19,570 -
Schedule of liabilities held for sale	Liabilities classified as held for sale Accounts payable $ 14,758 $ - Accrued liabilities and other payables 25,249 - 40,007 -

AMOUNTS DUE TO RELATED PARTIES

AMOUNTS DUE TO RELATED PARTIES (Tables)	9 Months Ended
	Mar. 31, 2023
AMOUNTS DUE TO RELATED PARTIES
Schedule of breakdown of the balances due to related parties	March 31, 2023 June 30, 2022 Borneo Oil Corporation Sdn Bhd (formerly known as Borneo Oil and Gas Corporation Sdn Bhd) (“BOC”) $ 43,740 $ 555,527 Borneo Energy Sdn Bhd 15,599 - Taipan International Limited 119,153 - 178,492 555,527

PROMISSORY NOTES (Tables)

PROMISSORY NOTES (Tables)	9 Months Ended
	Mar. 31, 2023
PROMISSORY NOTES
Schedule of promissory note	March 31, 2023 June 30, 2022 Promissory Notes (#1) $ - $ 18,484,028 Promissory Notes (#2) 481,023 - $ 481,023 $ 18,484,028
Schedule of fair value of the outstanding promissory notes	Risk free rate 0.268 % Credit spread 6.513 % Liquidity risk premium 5.000 %
Schedule of beginning and ending balances of notes payable	March 31, June 30, 2023 2022 Balance at the beginning of period or year $ 18,484,028 $ 16,535,942 Interest expense 1,870,972 1,948,086 Converted to Company’s restricted Common Stock (20,355,000 ) - Balance at the end of period or year $ - $ 18,484,028

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Mar. 31, 2023
LEASES
Schedule of lease-related assets and liabilities	March 31, 2023 June 30, 2022 Assets Right-of-use asset (#1) $ 608,572 $ 685,714 Right-of-use asset (#2) 54,883 - 663,455 685,714 Liabilities Current: Operating lease liabilities $ 19,851 $ - Finance lease liabilities $ 171,538 $ 75,224 Non-current: Operating lease liabilities $ 35,032 $ - Finance lease liabilities 654,979 97,900 Total lease liabilities $ 881,400 $ 173,124
Schedule of lease expense	Nine Months ended March 31, 2023 2022 Finance lease cost: Interest on lease liabilities (per ASC 842) $ 22,237 $ - Operating lease cost: Operating lease expense (per ASC 842) 93,614 28,571 Total lease expense $ 115,851 $ 28,571
Schedule of Future Contractual Lease Payments	Years ending March 31, Operating and finance lease amount 2024 $ 191,389 2025 149,972 2026 145,996 2027 143,469 2028 108,637 Thereafter 141,937 Total minimum finance lease liabilities installment payment $ 881,400 Representing:- Current liabilities $ 191,389 Non-current liabilities 690,011 $ 881,400

INCOME TAX (Tables)

INCOME TAX (Tables)	9 Months Ended
	Mar. 31, 2023
INCOME TAX
Schedule of income (loss) before income taxes	Nine Months ended March 31, 2023 2022 Tax jurisdiction from: - Local (US regime) $ (3,344,881 ) $ (2,608,660 ) - Foreign, including British Virgin Island (338,002 ) - Malaysia (375,897 ) (112,901 ) Labuan, Malaysia (8,935 ) - Loss before income taxes $ (4,067,715 ) $ (2,721,561 )
Schedule of provision for income taxes	Nine Months ended March 31, 2023 2022 Current tax: - Local $ - $ - - Foreign - - Deferred tax - Local - - - Foreign - - Income tax expense (benefit) $ - $ -
Schedule of effective tax rate	Nine Months ended March 31, 2023 2022 Loss before income taxes $ (375,897 ) $ (112,901 ) Statutory income tax rate 24 % 24 % Income tax expense at statutory rate (90,215 ) (27,096 ) Non-deductible items 9,850 3,781 Operating losses unable to carried forward 2,144 - Net operating loss 78,221 23,315 Income tax expense $ - $ -
Schedule of significant components of the deferred tax assets	March 31, 2023 June 30, 2022 Deferred tax assets: Net operating loss carryforwards, from US tax regime $ 962,630 $ 169,688 Malaysia tax regime 1,380,182 1,259,662 Less: valuation allowance (2,342,812 ) (1,429,350 ) Deferred tax assets, net $ - $ -

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Mar. 31, 2023
RELATED PARTY TRANSACTIONS
Schedule of Related party transactions	Nine Months ended March 31, 2023 2022 Related party transactions: Sales to: Borneo Eco Food Sdn Bhd (#2) $ 12,305 $ - Rental income: Mr. Jack Wong (#5) $ 32,967 $ - Other income – Sales of wash sand to: Jusra Mining Merapoh Sdn Bhd (#1) $ - $ 12,115 Site expenses: Warisan Khidmat Sdn Bhd (#3) $ 9,831 $ - Professional services provided by: Warisan Khidmat Sdn Bhd (#3) $ 14,067 $ -
Schedule of Related party balances	Related party balances: As of March 31, 2023 June 30, 2022 Trade receivables Borneo Eco Food Sdn Bhd (#2) $ 901 $ 5,933 Deposits paid for acquisition of property, plant and equipment Borneo Energy Sdn Bhd (#2) $ - $ 5,000,000 Trade Payables Warisan Khidmat Sdn Bhd (#3) $ - $ 7,253 Advanced from related parties Advanced from BOC (#4) $ 43,740 $ 555,527 Advanced from Borneo Energy Sdn Bhd (#2) $ 15,599 $ - Taipan International Limited (#6) $ 119,153 $ - Advanced to related party Vetrolysis Limited (#7) $ 100 $ - Advanced from Director Mr. Carl M. Craven $ - $ - Mr. Jack Wong (#5) $ 16,776 $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Mar. 31, 2023
COMMITMENTS AND CONTINGENCIES
Schedule of commitment to issue restricted common shares	Number of shares to be issued EMGTA LLC 375,000 YM Tengku Chanela Jamidah YAM Tengku Ibrahim 500,000 Steven Sorhus 500,000 1,375,000

ORGANIZATION AND BUSINESS BAC_3

ORGANIZATION AND BUSINESS BACKGROUND (Details)	9 Months Ended
	Mar. 31, 2023
Verde Resources Asia Pacific Limited [Member]
Place of incorporation	British Virgin Islands
Principal activities and place of operation	Investment holding
Effective interest held	100%
Verde Resources [Member]
Place of incorporation	Malaysia
Principal activities and place of operation	Provision of consultation service and distribution of renewable agricultural commodities
Effective interest held	100%
Verde Renewables, Inc. [Member]
Place of incorporation	State of Missouri, U.S.A.
Principal activities and place of operation	Management of a processing and packaging facility
Effective interest held	100%
Verde Life Inc. [Member]
Place of incorporation	State of Oregon, U.S.A.
Principal activities and place of operation	Distribution of THC-free cannabinoid (CBD) products
Effective interest held	100%
Champark Sdn Bhd [Member]
Place of incorporation	Malaysia
Principal activities and place of operation	Mining of minerals
Effective interest held	100%
The Wision Project Sdn Bhd [Member]
Place of incorporation	Malaysia
Principal activities and place of operation	Digital innovation, marketing & consulting service, PR, branding, influencer marketing, event management and media relations services
Effective interest held	100%
Verde Estates LLC [Member]
Place of incorporation	State of Missouri, U.S.A.
Principal activities and place of operation	Holding real property
Effective interest held	100%
Bio Resources Limited [Member]
Place of incorporation	Labuan, Malaysia
Principal activities and place of operation	Provision of proprietary pyrolysis technology and investment holding
Effective interest held	100%

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
	Mar. 31, 2023
Office Equipment [Member]
Estimated useful lives	3 years
Project Equipment [Member]
Estimated useful lives	5 years
Computer [Member]
Estimated useful lives	5 years
Vehicles [Member]
Estimated useful lives	5 years
Furniture & fittings [Member]
Estimated useful lives	5 years
Lower [Member] | Land and Building [Member]
Estimated useful lives	3 years
Lower [Member] | Plant And Machinery [Member]
Estimated useful lives	5 years
Upper [Member] | Land and Building [Member]
Estimated useful lives	27 years 6 months
Upper [Member] | Plant And Machinery [Member]
Estimated useful lives	10 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	Mar. 31, 2023	Mar. 31, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign Currency Exchange Rate	0.22609	0.23784
Annualized average Foreign Currency Exchange Rate	0.22328	0.23898

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Credit term	60 years
Cash and cash equivalents	$ 241,371	$ 418,917

GOING CONCERN UNCERTAINTIES (De

GOING CONCERN UNCERTAINTIES (Details Narrative) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
GOING CONCERN UNCERTAINTIES
Accumulated deficit	$ (10,518,469)	$ (10,357,920)
Net current liability position	$ 100,227

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended		6 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Revenue	$ 26,586	$ 16,712			$ 134,038	$ 16,712
Cost of revenue	(44,308)	(86,701)			(123,903)	(86,701)
Gross profit/(loss)	(708,327)	(1,055,641)	$ (3,516,672)	$ (1,665,920)	(4,224,999)	(2,721,561)
Loss from operations	(833,811)	(568,763)			(2,371,020)	(1,291,864)
Interest expense	(13,549)	(486,977)			(1,893,209)	(1,441,911)
Other income	(194,917)	(99)			(196,514)	(12,214)
Loss before income tax	(708,327)	(1,079,555)			(4,224,999)	(2,728,540)
Income tax	0	0			0	0
Loss from continuing operation	(652,443)	(1,055,641)			(4,067,715)	(2,721,561)
Loss from discountinued operation	(55,884)	0			(157,284)	0
NET LOSS	(708,327)	(1,055,641)			(4,224,999)	(2,721,561)
Total assets	39,246,124				39,246,124		$ 33,663,463
Cost of revenue	44,308	86,701			123,903	86,701
Other income	194,917	99			196,514	12,214
Gold Mineral Mining [Member]
Revenue	0	0			0	0
Cost of revenue	0	0			0	0
Gross profit/(loss)	0	0			0	0
Selling general administrative expenses	0	(43,405)			0	(150,781)
Loss from operations	0	(43,405)			0	(150,781)
Interest expense	0	0			0	0
Other income	0	(17)			0	(12,098)
Loss before income tax	0	(43,422)			0	(138,683)
Income tax	0	0			0	0
Loss from continuing operation	0	(43,422)			0	(138,683)
Loss from discountinued operation	(55,884)	0			(157,284)	0
NET LOSS	(55,884)	(43,422)			(157,284)	(138,683)
Total assets	19,570	317,471			19,570	317,471
Cost of revenue	0	0			0	0
Other income	0	17			0	12,098
Distribution of THC-free cannabinoid (CBD) products [Member]
Revenue	0	0			0	0
Cost of revenue	0	0			0	0
Gross profit/(loss)	0	0			0	0
Selling general administrative expenses	(300)	(1,378)			(2,875)	(3,134)
Loss from operations	(300)	(1,378)			(2,875)	(3,134)
Interest expense	0	0			0	0
Other income	0	0			0	0
Loss before income tax	(300)	(1,378)			(2,875)	(3,134)
Income tax	0	0			0	0
Loss from continuing operation	(300)	(1,378)			(2,875)	(3,134)
Loss from discountinued operation	0	0			0	0
NET LOSS	(300)	(1,378)			(2,875)	(3,134)
Total assets	315,929	0			315,929	0
Cost of revenue	0	0			0	0
Other income	0	0			0	0
Licensor Proprietary Pyrolysis Technology Member
Revenue	0				0
Cost of revenue	0				0
Gross profit/(loss)	0				0
Selling general administrative expenses	(8,282)				(8,935)
Loss from operations	(8,282)				(8,935)
Interest expense	0				0
Other income	0				0
Loss before income tax	(8,282)				(8,935)
Income tax	0				0
Loss from continuing operation	(8,282)				(8,935)
Loss from discountinued operation	0				0
NET LOSS	(8,282)				(8,935)
Total assets	30,195,135				30,195,135
Cost of revenue	0				0
Other income	0				0
Production and Distribution of Renewable Commodities [Member]
Revenue	10,215	16,712			89,480	16,712
Cost of revenue	(44,129)	(86,701)			(122,758)	(86,701)
Gross profit/(loss)	(33,914)	(69,989)			(33,278)	(69,989)
Selling general administrative expenses	(371,146)	(75,958)			(1,373,555)	(93,598)
Loss from operations	(405,060)	(145,947)			(1,406,833)	(163,587)
Interest expense	(13,549)	0			(22,237)	0
Other income	(42)	0			(678)	0
Loss before income tax	(418,567)	(145,947)			(1,428,392)	(163,587)
Income tax	0	0			0	0
Loss from continuing operation	(418,567)	(145,947)			(1,428,392)	(163,587)
Loss from discountinued operation	0	0			0	0
NET LOSS	(418,567)	(145,947)			(1,428,392)	(163,587)
Total assets	1,519,462	101,066			1,519,462	101,066
Cost of revenue	44,129	86,701			122,758	86,701
Other income	42	0			678	0
Holding Property [Member]
Revenue	15,896	0			39,117	0
Cost of revenue	0	0			0	0
Gross profit/(loss)	15,896	0			39,117	0
Selling general administrative expenses	(47,630)	(180,497)			(134,880)	(283,239)
Loss from operations	(31,734)	(180,497)			(95,763)	(283,239)
Interest expense	0	0			0	0
Other income	0	(116)			0	(116)
Loss before income tax	(31,734)	(180,381)			(95,763)	(283,123)
Income tax	0	0			0	0
Loss from continuing operation	(31,734)	(180,381)			(95,763)	(283,123)
Loss from discountinued operation	0	0			0	0
NET LOSS	(31,734)	(180,381)			(95,763)	(283,123)
Total assets	1,245,906	505,432			1,245,906	505,432
Cost of revenue	0	0			0	0
Other income	0	116			0	116
Corporate Unallocated [Member]
Revenue	475	0			5,441	0
Cost of revenue	(179)	0			(1,145)	0
Gross profit/(loss)	296	0			4,296	0
Selling general administrative expenses	(388,731)	(197,536)			(860,910)	(691,123)
Loss from operations	(388,435)	(197,536)			(856,614)	(691,123)
Interest expense	0	(486,977)			(1,870,972)	(1,441,911)
Other income	(194,875)	0			(195,836)	0
Loss before income tax	(193,560)	(684,513)			(2,531,750)	(2,133,034)
Income tax	0	0			0	0
Loss from continuing operation	(193,560)	(684,513)			(2,531,750)	(2,133,034)
Loss from discountinued operation	0	0			0	0
NET LOSS	(193,560)	(684,513)			(2,531,750)	(2,133,034)
Total assets	5,950,122	33,118,811			5,950,122	33,118,811
Cost of revenue	179	0			1,145	0
Other income	194,875	0			195,836	0
Consolidated [Member]
Revenue	26,586	16,712			134,038	16,712
Cost of revenue	(44,308)	(86,701)			(123,903)	(86,701)
Gross profit/(loss)	(17,722)	(69,989)			10,135	(69,989)
Selling general administrative expenses	(816,089)	(498,774)			(2,381,155)	(1,221,875)
Loss from operations	(833,811)	(568,763)			(2,371,020)	(1,291,864)
Interest expense	(13,549)	(486,977)			(1,893,209)	(1,441,911)
Other income	(194,917)	(99)			(196,514)	(12,214)
Loss before income tax	(652,443)	(1,055,641)			(4,067,715)	(2,721,561)
Income tax	0	0			0	0
Loss from continuing operation	(652,443)	(1,055,641)			(4,067,715)	(2,721,561)
Loss from discountinued operation	(55,884)	0			(157,284)	0
NET LOSS	(708,327)	(1,055,641)			(4,224,999)	(2,721,561)
Total assets	39,246,124	34,042,780			39,246,124	34,042,780
Cost of revenue	44,308	86,701			123,903	86,701
Other income	$ 194,917	$ 99			$ 196,514	$ 12,214

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 26,586	$ 16,712	$ 134,038	$ 16,712
Operating Segment [Member] | United States America [Member]
Revenue	22,541	0	107,760	0
Operating Segment [Member] | Malaysia [Member]
Revenue	$ 4,045	$ 16,712	$ 26,278	$ 16,712

OTHER RECEIVABLE AND DEPOSITS_2

OTHER RECEIVABLE AND DEPOSITS (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
OTHER RECEIVABLE AND DEPOSITS
Deposits	$ 191,011	$ 118,516
Other receivables	1,116	0
Other receivables,deposit and prepayment	$ 192,127	$ 118,516

INTANGIBLE ASSET (Details Narra

INTANGIBLE ASSET (Details Narrative)	9 Months Ended
	Mar. 31, 2023 USD ($)
INTANGIBLE ASSET
Fair value of certification and issuance of Carbon	$ 30,192,771

PROPERTY PLANT AND EQUIPMENT (D

PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Property, plant and equipment, gross	$ 7,468,644	$ 2,658,307
Less: accumulated depreciation	(195,979)	(1,707,150)
Foreign exchange adjustment	110	97,736
Property, plant and equipment, net	7,272,555	1,048,893
Office Equipment [Member]
Property, plant and equipment, gross	6,206	23,353
Project Equipment [Member]
Property, plant and equipment, gross	0	615,420
Computer [Member]
Property, plant and equipment, gross	5,382	14,846
Land and Building [Member]
Property, plant and equipment, gross	1,258,360	1,642,102
Plant And Machinery [Member]
Property, plant and equipment, gross	5,477,728	134,198
Motor Vehicle [Member]
Property, plant and equipment, gross	708,037	225,861
Furniture & fittings [Member]
Property, plant and equipment, gross	$ 12,931	$ 2,527

PROPERTY PLANT AND EQUIPMENT _2

PROPERTY PLANT AND EQUIPMENT (Details 1) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Disposal asset held for sale, gross	$ 1,579,678	$ 0
Less: accumulated depreciation	1,584,909	0
Foreign exchange adjustment	5,473	0
Disposal asset held for sale	242	0
Office Equipment [Member]
Disposal asset held for sale	17,804	0
Project Equipment [Member]
Disposal asset held for sale	613,294	0
Computer [Member]
Disposal asset held for sale	10,487	0
Land and Building [Member]
Disposal asset held for sale	889,180	0
Plant And Machinery [Member]
Disposal asset held for sale	15,393	0
Motor Vehicle [Member]
Disposal asset held for sale	$ 33,520	$ 0

PROPERTY PLANT AND EQUIPMENT _3

PROPERTY PLANT AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
PROPERTY, PLANT AND EQUIPMENT
Land and Building	$ 729,522		$ 729,522		$ 746,145
Depreciation expenses	$ 97,167	$ 4,611	$ 177,074	$ 9,831

DEPOSITS PAID (Details)

DEPOSITS PAID (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Deposits paid for acquisition of subsidiaries	$ 22,609	$ 25,935,550
Deposits paid for acquisition of property, plant and equipment	0	5,000,000
Security deposit	80,000	320,000
Bio Resources [Member]
Deposits paid for acquisition of subsidiaries	0	25,935,550
Factory site [Member]
Other deposits	80,000	80,000
Vata VM Synergy (M) Sdn Bhd ("VATA") [Member]
Deposits paid for acquisition of subsidiaries	22,609	0
Land and Building [Member]
Other deposits	$ 0	$ 240,000

DEPOSITS PAID (Details Narrativ

DEPOSITS PAID (Details Narrative) - USD ($)					1 Months Ended
	Mar. 02, 2022	Feb. 10, 2022	May 12, 2021	May 10, 2021	Mar. 23, 2023	Mar. 31, 2023	Jul. 01, 2021
Amount of issuance promissory notes			$ 20,355,000
Shares issued				135,666,667		1,375,000	31,000,000
Total purchase considration					$ 2,250,000
Description of SSA Agreement					which includes a first payment of MYR100,000 upon the execution of the SSA Agreement, a second payment of MYR 150,000 within thirty (30) days from the date of fulfillment or waiver of all the conditions set out in the SSA Agreement
Balance consideration for resricted common stock, share Issue					$ 2,000,000
Discount in restricted common stock, share issue					10%
Lease Agreements [Member]
Lease Terms	7 years	2 years
Landlord consideration	$ 720,000	$ 490,000
Security deposit	80,000	240,000
Rent payable	$ 8,571	$ 10,000
Sale and Purchase Agreement [Member] | Biofraction plant [Member]
Shares issued price under acquisition				$ 0.03
Amount of shares issued under acquisition				$ 5,000,000
Number of shares issued under acquisition				166,666,667
Bio Resources Limited [Member] | Sale and Purchase Agreement [Member]
Amount of issuance promissory notes			20,355,000
Restricted shares of common stock			$ 321,500,000
Shares issued price under acquisition			$ 0.03
Amount of shares issued under acquisition			$ 9,645,000
Number of shares issued under acquisition			321,500,000
Promissory note priced			$ 16,290,550

MINING RIGHT (Details)

MINING RIGHT (Details) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
MINING RIGHT
Balance as at July 1, 2022 and July 1, 2021	$ 27,088	$ 60,131
Amortization charge for the year	(21,812)	(30,779)
Foreign exchange adjustment	(368)	(2,264)
Reclassified to assets held for sale	(4,908)	0
Balance as of December 31, 2022 and June 30, 2022	$ 0	$ 27,088

MINING RIGHT (Details Narrative

MINING RIGHT (Details Narrative) - USD ($)		3 Months Ended		9 Months Ended
	Jun. 13, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
MINING RIGHT
Lump sum payments for rent	$ 62,260
Terms of mining leases	mining right over a period of 2 years up to June 13, 2023
Amortization charge of rights of use lease assets		$ 7,418	$ 8,150	$ 21,812	$ 23,345
Lease term				2
Description of lease payments				The mining right is amortized on a straight-line basis over the term of the right

DISPOSAL GROUP HELD FOR SALE (D

DISPOSAL GROUP HELD FOR SALE (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Property, plant and equipment, net	$ 7,272,555	$ 1,048,893
Assets classified as held for sale
Total assets	39,246,124	33,663,463
Liabilities classified as held for sale
Accounts payable	29,360	18,211
Total liabilities	2,306,432	19,514,546
Disposal Group Held For Sale [Member]
Cash and cash equivalents	5,376	0
Property, plant and equipment, net	242	0
Mining rights	4,908	0
Other receivables and deposits	9,044	0
Assets classified as held for sale
Total assets	19,570	0
Liabilities classified as held for sale
Accounts payable	14,758	0
Accrued liabilities and other payables	25,249	0
Total liabilities	$ 40,007	$ 0

AMOUNTS DUE TO RELATED PARTIE_2

AMOUNTS DUE TO RELATED PARTIES (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Advanced from related parties	$ 178,492	$ 555,527
Taipan International Limited [Member]
Advanced from related parties	119,153	0
Borneo Energy Sdn Bhd [Member]
Advanced from related parties	15,599	0
Borneo Oil and Gas Corporation Sdn Bhd [Member]
Advanced from related parties	$ 43,740	$ 555,527

AMOUNTS DUE TO RELATED PARTIE_3

AMOUNTS DUE TO RELATED PARTIES (Details Narrative)	Mar. 31, 2023	Jun. 30, 2022
Taipan International Limited [Member]
Holding share percentage	33.40%
Borneo Oil Berhad [Member]
Holding share percentage	13.40%	22.80%

PROMISSORY NOTES (Details)

PROMISSORY NOTES (Details) - USD ($)	Mar. 31, 2023	Jun. 03, 2022
Promissory note	$ 481,023	$ 18,484,028
Promissory Note 1 [Member]
Promissory note	0	18,484,028
Promissory Note 2 [Member]
Promissory note	$ 481,023	$ 0

PROMISSORY NOTES (Details 1)

PROMISSORY NOTES (Details 1)	9 Months Ended
	Mar. 31, 2023
PROMISSORY NOTES
Risk free interest	0.26%
Credit spread	6.50%
Liquidity risk premium	5%

PROMISSORY NOTES (Details 2)

PROMISSORY NOTES (Details 2) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
PROMISSORY NOTES
Balance at the beginning of year	$ 18,484,028	$ 16,535,942
Interest expenses	1,870,972	1,948,086
Converted to Company's restricted common Stock	(20,355,000)	0
Balance at the end of year	$ 0	$ 18,484,028

PROMISSORY NOTES (Details Narra

PROMISSORY NOTES (Details Narrative) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 13, 2023	May 12, 2021	Jan. 20, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2023	Feb. 17, 2023	Dec. 31, 2022	Dec. 09, 2022	Nov. 07, 2022	Sep. 30, 2022	Jul. 15, 2022	Jun. 30, 2022
Convert principal loan amount into shares of the restricted common stock			$ 20,355,000
Stock price per share			$ 0.0611
Risk free interest						0.26%
Face value principal amount		$ 20,355,000
Credit spread						6.50%
Interest expenses				$ 0	$ 486,978	$ 1,870,972	$ 1,441,911
Liquidity risk premium						5%
Issuance shares of restricted common stock											333,142,389
Common stock shares issued, shares				1,174,290,939		1,174,290,939			714,285						819,188,055
Common stock shares issued, amount				$ 1,174,291		$ 1,174,291			$ 50,000						$ 819,188
Restricted Stock [Member]
Common stock shares issued, shares		321,500,000						500,000			1,500,000	603,181	15,328,029	1,500,000
Common stock per share		$ 0.03
Common stock shares issued, amount		$ 9,645,000										$ 53,080
Promissory notes issued, amount										$ 20,355,000
Restricted Stock [Member] | Lisa Leilani Zimmer [Member]
Face value principal amount		20,355,000
Common stock shares issued, shares														1,000,000
Promissory Note [Member] | May 12, 2025 [Member]
Stock price per share				$ 0.07		$ 0.07
Risk free interest						4.03%
Face value principal amount				$ 481,023		$ 481,023
Credit spread						11.60%
Liquidity risk premium						5.60%
Promissory notes issued, amount				$ 675,888		$ 675,888
Promissory Note [Member] | May 12, 2021 [Member]
Face value principal amount		$ 20,355,000
Common stock shares issued, shares		321,500,000
Coupan interest		0%
Debt Agreemnt [Member]
Face value principal amount	$ 675,888
Debt Settlement	$ 675,888
Coupan interest	2%
Common stock per share	$ 0.07

LEASES (Details)

LEASES (Details) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Assets
Right-of-use asset	$ 608,572	$ 685,714
Right-of-use asset	54,883	0
Assets	663,455	685,714
Liabilities Current
Operating lease liabilities	19,851	0
Finance lease liabilities current	171,538	75,224
Liabilities non current
Operating lease liabilities	35,032	0
Finance lease liabilities	654,979	97,900
Total lease liabilities	$ 881,400	$ 173,124

LEASES (Details 1)

LEASES (Details 1) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
LEASES
Interest on lease liabilities	$ 22,237	$ 0
Operating lease cost
Operating lease expense	93,614	28,571
Total lease expense	$ 115,851	$ 28,571

LEASES (Details 2)

LEASES (Details 2)	Mar. 31, 2023 USD ($)
Operating And Finance Lease Maturities
2028	$ 108,637
2024	191,389
2025	149,972
2026	145,996
2027	143,469
Thereafter	141,937
Total minimum finance lease liabilities installment payment	881,400
Current liabilities	191,389
Non-current liabilities	690,011
Finance Lease Liability	$ 881,400

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Weighted average remaining life of the lease			3 years
Right Of Use Asset	$ 663,455		$ 663,455		$ 685,714
Weighted average incremental borrowing rate			5%
Lease liabilities	881,400		$ 881,400		$ 173,124
Amortization charge	$ 30,141	$ 0	87,169	$ 0
Lease			$ 720,000
Lease term			7 years
Vehicles [Member]
Lease			$ 84,718
Lease term			3 years

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 23, 2023	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2023	Sep. 30, 2022	Dec. 31, 2023	Mar. 13, 2023	Feb. 24, 2023	Feb. 17, 2023	Dec. 31, 2022	Dec. 09, 2022	Dec. 01, 2022	Nov. 30, 2022	Nov. 07, 2022	Jul. 15, 2022	Jun. 30, 2022	Jan. 20, 2022	Jul. 01, 2021	May 12, 2021	May 10, 2021
Common stock, shares authorized				10,000,000,000												10,000,000,000
Preferred stock, shares authorized				50,000,000												50,000,000
Common stock, par value (in dollars per share)				$ 0.001					$ 0.07							$ 0.001
Description of Consideration	the consideration for the acquisition of 60% of the issued and paid-up share capital of VATA shall be satisfied by the total purchase consideration of Malaysia Ringgit MYR 2,250,000, which includes a first payment of Malaysia Ringgit MYR 100,000 upon the execution of the SSA Agreement, a second payment of Malaysia Ringgit MYR 150,000 within thirty (30) days from the date of fulfillment or waiver of all the conditions set out in the SSA Agreement, and the issuance of shares of the Company’s restricted Common Stock for the balance consideration of Malaysia Ringgit MYR 2,000,000 at a price per share of not more than ten percent (10%) discount from the immediate preceding five trading days volume weighted average price (“VWAP”) from the issuance date pursuant to the terms of the SSA Agreement
Preferred stock, par value (in dollars per share)				$ 0.001												$ 0.001
Common stock shares issued				1,174,290,939					714,285							819,188,055
Account payable				$ 29,360												$ 18,211
Stock based compensation		$ 93,027	$ 191,222		$ 232,500
Common stock, shares outstanding				1,174,290,939												819,188,055
Common stock				$ 1,174,291					$ 50,000							$ 819,188
Stock price per share																	$ 0.0611
Non-US shareholder [Member]
Common stock, par value (in dollars per share)														$ 0.088
Common stock shares issued														15,036,362
Common stock														$ 1,323,200
Private Placement [Member]
Common stock, par value (in dollars per share)														$ 0.072
Common stock shares issued														291,667
Common stock														$ 21,000
Restricted Stock [Member]
Common stock, par value (in dollars per share)											$ 0.12			$ 0.088	$ 0.155
Common stock shares issued					15,328,029	500,000					1,500,000			603,181	1,500,000				321,500,000
Agreement term				24 years
Common stock														$ 53,080					$ 9,645,000
Restricted Stock [Member] | Lisa Leilani Zimmer [Member]
Common stock shares issued															1,000,000
Restricted Stock [Member] | Gary F. Zimmer [Member]
Common stock shares issued															500,000
Restricted Stock [Member] | Tengku Ibrahim [Member]
Common stock, par value (in dollars per share)													$ 0.001
Common stock shares issued										500,000			1,000,000
Stock price per share										$ 0.20
Restricted Stock [Member] | Looi Pei See [Member]
Common stock shares issued										1,140,000
Agreement term				36 years
Stock price per share										$ 0.20
Restricted Stock [Member] | Borneo Energy Sdn Bhd [Member]
Common stock shares issued						375,000				375,000								31,000,000		31,000,000
Consideration of issuance								166,666,667												135,666,667
Common stock																				$ 5,000,000
Stock price per share								$ 0.03
Restricted Stock [Member] | Borneo Oil Corporation Sdn Bhd [Member]
Account payable							$ 675,888
Stock price per share							$ 0.07
Restricted Stock [Member] | EMGTA LLC [Member]
Common stock, par value (in dollars per share)												$ 0.001
Common stock shares issued						375,000				375,000		750,000
Agreement term				25 years
Stock price per share										$ 0.20
Restricted Stock [Member] | Steven Sorhus [Member]
Common stock, par value (in dollars per share)												$ 0.001
Common stock shares issued				500,000		300,000				300,000		800,000
Agreement term				25 years
Stock price per share										$ 0.20

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Loss before income taxes	$ (4,067,715)	$ (2,721,561)
Foreign, including British Virgin IslandMember
Loss before income taxes	(338,002)	0
Local (US regime) Member
Loss before income taxes	(3,344,881)	(2,608,660)
Malaysia [Member]
Loss before income taxes	(375,897)	(112,901)
Labuan, Malaysia [Member]
Loss before income taxes	$ (8,935)	$ 0

INCOME TAX (Details 1)

INCOME TAX (Details 1) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
INCOME TAX
Local			$ 0	$ 0
Current tax
Foreign			0	0
Deferred tax
Local			0	0
Foreign			0	0
Income tax expense benefit	$ 0	$ 0	$ 0	$ 0

INCOME TAX (Details 2)

INCOME TAX (Details 2) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
INCOME TAX
Loss before income taxes			$ (375,897)	$ (112,901)
Statutory income tax rate			24%	24%
Income tax expense at statutory rate			$ (90,215)	$ (27,096)
Non-deductible items			9,850	3,781
Operating losses unable to carried forward			2,144	0
Net operating loss			78,221	23,315
Income tax expense benefit	$ 0	$ 0	$ 0	$ 0

INCOME TAX (Details 3)

INCOME TAX (Details 3) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
INCOME TAX
US tax regime	$ 962,630	$ 169,688
Malaysia tax regime	1,380,182	1,259,662
Less: valuation allowance	(2,342,812)	(1,429,350)
Deferred tax assets, net	$ 0	$ 0

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Valuation allowance - Malaysia Rate	24%
U.S. corporate income tax rate	35%	21%
Deferred tax assets	$ 962,630
Net operating loss carryforwards	$ 4,583,951
Lease term	7 years
Malaysia [Member]
Valuation allowance - Malaysia Rate	24%
Deferred tax assets	$ 1,380,182
Net operating loss carryforwards	$ 5,750,759
Lease term	10 years

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Sales to :
Borneo Eco Food Sdn Bhd	$ 12,305	$ 0
Rental income :
Mr. Jack Wong	32,967	0
Site expenses [Member]
Warisan Khidmat Sdn Bhd	9,831	0
Professional services provided by [Member]
Warisan Khidmat Sdn Bhd	14,067	0
Other income - Sales of wash sand to:
Jusra Mining Merapoh Sdn Bhd (#1)	$ 0	$ 12,115

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	Mar. 31, 2023	Jun. 30, 2022
Advanced to related parties [Member]
Vetrolysis Limited	$ 100	$ 0
Trade Receivables [Member]
Borneo Eco Food Sdn Bhd (#3)	901	5,933
Trade Payables [Member]
Warisan Khidmat Sdn Bhd (#5)	0	7,253
Advanced From Related Parties [Member]
Advanced from BOG (#6)	43,740	555,527
Advanced from Borneo Energy Sdn Bhd	15,599	0
Taipan International Limited	119,153	0
Mr. Jack Wong	16,776	0
Deposits paid for acquisition of property, plant and equipment [Member]
Borneo Energy Sdn Bhd (#3)	$ 0	$ 5,000,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative)	1 Months Ended	9 Months Ended
	Oct. 20, 2021	Mar. 31, 2023
Borneo Oil and Gas Corporation Sdn Bhd [Member]
Description of equity held		Warisan Khidmat Sdn. Bhd. is a company whose shareholdings is entirely held by Director of VRSB
Taipan International Limited [Member]
Description of equity held		Taipan International Limited is one of the shareholders of the Company, and held 33.4% of the Company’s issued and outstanding Common Stock as of March 31, 2023
Borneo Oil Berhad [Member]
Description of equity held		Borneo Oil Berhad (“BOB”) is ultimate holding company of Borneo Eco Food Sdn. Bhd. and Borneo Energy Sdn Bhd, and held 13.4% and 22.8% of the Company’s issued and outstanding Common Stock as of March 31, 2023 and June 30, 2022, respectively
Lamax Gold Limited [Member]
Equity interests	15%

CONCENTRATIONS OF RISK (Details

CONCENTRATIONS OF RISK (Details Narrative)	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Major Customers [Member]
No single customer whose revenue exceeded	10%	10%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - shares	Mar. 31, 2023	Jul. 01, 2021	May 10, 2021
Number Of shares to be issued	1,375,000	31,000,000	135,666,667
Restricted Stock [Member] | EMGTA LLC [Member]
Number Of shares to be issued	375,000
Restricted Stock [Member] | Steven Sorhus [Member]
Number Of shares to be issued	500,000
Restricted Stock [Member] | YM Tengku Chanela Jamidah YAM Tengku Ibrahim [Member]
Number Of shares to be issued	500,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Mar. 31, 2023 USD ($) $ / shares	Mar. 31, 2023 MYR (RM)	Jan. 20, 2022 $ / shares
Stock price per share | $ / shares			$ 0.0611
Promissory Note [Member] | May 12, 2025 [Member]
Stock price per share | $ / shares	$ 0.07
Promissory notes issued, amount | $	$ 675,888
Balance consideration | RM		RM 2,000,000
Discount rate	10%	10%
Repaymnet of promissory notes | RM		RM 150,000
Bearing interest rate	2%	2%

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Dec. 31, 2023	Apr. 21, 2023	Mar. 31, 2023	Feb. 17, 2023	Dec. 09, 2022	Nov. 07, 2022	Sep. 30, 2022	Jul. 15, 2022	Jun. 30, 2022	May 12, 2021
Common stock shares issued			1,174,290,939	714,285					819,188,055
Restricted Stock [Member]
Common stock shares issued	500,000				1,500,000	603,181	15,328,029	1,500,000		321,500,000
Restricted Stock [Member] | Subsequent Event [Member]
Common stock shares issued		100,000
Common stock shares issued, amount		$ 1,428,571
Common Stock price per share		$ 0.07
Restricted Stock [Member] | one non-US shareholder [Member] | Subsequent Event [Member]
Common stock shares issued		480,768
Common stock shares issued, amount		$ 50,000
Common Stock price per share		$ 0.104