Verde Resources (VRDR) 10-K/A 15 Feb 24 2023 FY Annual report (amended) Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2023	Oct. 02, 2023	Dec. 30, 2022
Cover [Abstract]
Entity Registrant Name	VERDE RESOURCES, INC.
Entity Central Index Key	0001506929
Document Type	10-K/A
Amendment Flag	false
Entity Voluntary Filers	Yes
Current Fiscal Year End Date	--06-30
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		1,176,200,278
Entity Public Float			$ 86,102,445
Document Annual 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
Auditor Name	J&S Associate PLT
Auditor Location	Kuala Lumpur, Malaysia
Local Phone Number	538-5799
Security 12g Title	Common Stock, $0.001 par value
Entity Interactive Data Current	Yes
Auditor Firm Id	6743

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Current asset:
Cash and cash equivalents	$ 200,409	$ 418,917
Accounts receivable	12,071	21,028
Inventories	96,036	87,035
Amounts due from related party	100	0
Deposits and prepayments	569,675	119,238
Other receivables	9,641	0
Total current assets	887,932	646,218
Non-current assets:
Property, plant and equipment, net	4,009,090	1,048,893
Right of use assets, net	633,109	685,714
Mining rights	0	27,088
Intangible assets	33,191,991	0
Security deposit	80,000	240,000
Deposit paid for acquisition of subsidiaries	21,423	25,935,550
Deposit paid for acquisition of property, plant and equipment	0	5,080,000
Total non-current assets	37,935,613	33,017,245
TOTAL ASSETS	38,823,545	33,663,463
Current liabilities:
Accounts payable	73,171	18,211
Accrued liabilities and other payables	651,480	283,656
Finance lease liabilities	172,184	75,224
Operating lease liabilities	20,768	0
Bank loan	191,000	0
Promissory notes	0	18,484,028
Amount due to director	9,660	0
Amounts due to related parties	359,018	555,527
Total current liabilities	1,477,281	19,416,646
Non-current liabilities:
Finance lease liabilities	608,455	97,900
Operating lease liabilities	29,483	0
Promissory notes	487,790	0
Total non-current liabilities	1,125,728	97,900
TOTAL LIABILITIES	2,603,009	19,514,546
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; 1,176,200,278 and 819,188,055 issued and outstanding as of June 30, 2023 and 2022	1,176,200	819,188
Additional paid-in capital	45,415,958	22,945,190
Accumulated other comprehensive income	(79,192)	742,459
Accumulated deficit	(10,292,430)	(10,357,920)
Stockholders equity before Non-controlling interest	36,220,536	14,148,917
Non-controlling interest	0	0
Stockholders' equity	36,220,536	14,148,917
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 38,823,545	$ 33,663,463

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED BALANCE SHEETS
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	1,176,200,278	819,188,055
Common stock, shares outstanding	1,176,200,278	819,188,055

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME
Revenue, net	$ 158,098	$ 38,169
Cost of revenue	(238,153)	(145,356)
Gross loss	(80,055)	(107,187)
Operating expenses:
Selling, general and administrative expenses	(3,216,022)	(1,905,301)
Goodwill impairment	0	(4,879)
Total operating expenses	(3,216,022)	(1,910,180)
LOSS FROM OPERATION	(3,296,077)	(2,017,367)
Other (expense) income:
Interest expense	(1,918,572)	(1,949,151)
Other income	1,215,689	12,104
Total other expense, net	(702,883)	(1,937,047)
LOSS BEFORE INCOME TAXES	(3,998,960)	(3,954,414)
Income tax expense	0	0
NET LOSS	(3,998,960)	(3,954,414)
Net loss attributable to noncontrolling interest	0	(6,979)
Net loss attributable to Verde Resources Inc., shareholders	(3,998,960)	(3,947,435)
Total	(3,998,960)	(3,954,414)
Other comprehensive (loss):
- Foreign currency adjustment income (loss)	(821,651)	83,504
Less: other comprehensive loss attributable to non-controlling interest	0	(12,750)
Less: other comprehensive loss attributable to non-controlling interest	0	12,750
Add: other comprehensive (loss) income attributable to Verde Resources Inc., shareholders	(821,651)	96,254
COMPREHENSIVE LOSS	$ (4,820,611)	$ (3,870,910)
Net loss per share
- Basic	$ 0	$ 0
- Diluted	$ 0	$ 0
Weighted average common shares outstanding
- Basic	1,019,752,220	812,847,811
- Diluted	1,019,752,220	812,847,811

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (3,998,960)	$ (3,954,414)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property, plant and equipment	254,852	24,792
Amortization	124,688	65,065
Goodwill	0	4,879
Stock-based compensation	519,671	355,569
Finance cost interest element of promissory notes (non-cash)	1,877,739	1,948,086
Fair value adjustment on convertible promissory notes	(194,865)	0
Gain on disposal of a subsidiary	(980,714)	0
Gain on disposal of property and equipment	(600)	0
Lease interest expense	36,765	1,065
Change in operating assets and liabilities:
Accounts receivable	7,785	(21,029)
Other deposits and prepayments	(103,624)	(113,458)
Extractive activities mining	0	(1,229)
Other receivables	(846)	24,809
Inventories	(13,850)	(87,035)
Accounts payables	75,768	15,710
Accrued liabilities and other payables	403,259	120,281
Advanced from director	(12,877)	0
Advanced from related parties	348,913	20,948
Net cash used in operating activities	(1,656,896)	(1,595,961)
Cash flows from investing activities:
Proceeds from disposal of property, plant and equipment	23,000	0
Deposit paid for acquisition of subsidiary	(21,423)	0
Net inflow from disposal of subsidiary	106,647	0
Net inflow on acquisition of subsidiary	1,140	0
Deposit paid for acquisition and property, plant and equipment	0	(240,000)
Acquisition of equity interest from non-controlling interests	0	(35,670)
Purchase of property, plant and equipment	(497,302)	(1,073,153)
Net cash used in investing activities	(387,938)	(1,348,823)
Cash flows from financing activities:
Repayment to lease liabilities	(102,234)	(9,341)
Drawdown of bank loan	301,000	0
Repayment of bank loan	(110,000)	0
Lease interest paid	(36,765)	(1,065)
Proceeds from issuance of common stock	1,576,280	1,000,000
Net cash provided by financing activities	1,628,281	989,594
Net change in cash and cash equivalent	(416,553)	(1,955,190)
Foreign currency translation adjustment	198,045	256,485
Net change in cash and cash equivalents	(218,508)	(1,698,705)
BEGINNING OF YEAR	418,917	2,117,622
END OF YEAR	200,409	418,917
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	0	0
Cash paid for interest	0	0
Issuance of common stock
- Deposit paid for acquisition of property and equipment	$ 0	$ 930,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY (DEFICIT) - USD ($)	Total	Common Stock	Common stock to be issued [Member]	Additional Paid-In Capital	Accumulated other comprehensive loss	Accumulated deficit [Member]	Noncontrolling Interest
Balance, shares at Jun. 30, 2021		779,742,109
Balance, amount at Jun. 30, 2021	$ 15,769,925	$ 779,742	$ 0	$ 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	$ 31,000	0	899,000	0	0	0
Stock based compensation	355,569	$ 0	0	355,569	0	0	0
Shares to be issued for private placement, shares		8,445,946
Shares to be issued for private placement, amount	1,000,000	$ 0	8,446	991,554	0	0	0
Accretion of interest	(35,667)	0	0	0	0	(497,230)	461,563
Net loss for the year	(3,954,414)	0	0	0	0	(3,947,435)	(6,979)
Foreign currency translation adjustment	83,504	$ 0	0	0	96,254	0	(12,750)
Balance, shares at Jun. 30, 2022		819,188,055
Balance, amount at Jun. 30, 2022	14,148,917	$ 810,742	8,446	22,945,190	742,459	(10,357,920)	0
Net loss for the year	(3,998,960)	0	0	0	0	(3,998,960)	0
Foreign currency translation adjustment	(12,631)	$ 0	0	0	(12,631)	0	0
Shares issued to service provider, shares		5,315,000
Shares issued to service provider, amount	875,500	$ 5,315	0	870,185	0	0	0
Stock issued for previously committed private placement	0	$ 8,446	(8,446)	0	0	0	0
Shares issued for private placement, shares		18,554,834
Shares issued for private placement, amount	1,597,280	$ 18,555	0	1,578,725	0	0	0
Shares issued arising from conversion of promissory notes, shares		333,142,389
Shares issued arising from conversion of promissory notes, amount	20,355,000	$ 333,142	0	20,021,858	0	0	0
Fair value adjustment on conversion of promissory notes	4,064,450	0	0	0	0	4,064,450	0
Cumulative translation adjustment transferred to profit/loss	$ (809,020)	$ 0	0	0	(809,020)	0	0
Balance, shares at Jun. 30, 2023	1,375,000	1,176,200,278
Balance, amount at Jun. 30, 2023	$ 36,220,536	$ 1,176,200	$ 0	$ 45,415,958	$ (79,192)	$ (10,292,430)	$ 0

ORGANIZATION AND BUSINESS BACKG

ORGANIZATION AND BUSINESS BACKGROUND	12 Months Ended
	Jun. 30, 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.. We currently operate 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. As of June 30, 2023, the Company has the following subsidiaries:- Name of subsidiary Place of incorporation Principal activities and place of operation Effective interest held Verde Resources Asia Pacific Limited (“VRAP”) British Virgin Islands Investment holding 100% Verde Resources (Malaysia) Sdn Bhd (“Verde Malaysia”) 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% The Wision Project Sdn Bhd (“Wision”) Malaysia Digital innovation, marketing & consulting firm provides 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 acquisition of BRL was completed on October 12, 2022. The Company and its subsidiaries are hereinafter referred to as (the “Company”). During the years ended June 30, 2023, and 2022, there are the major transactions, as below: 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 various unrelated third parties being Taipan International Limited, The Wision Project Limited, and other individuals, for a consideration of $30,000,000 by way of an 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. The acquisition of Bio Resources Limited was subsequently closed on October 12, 2022. BRL owns the intellectual property known as “Catalytic Biofraction Process”, a slow pyrolysis process using a proprietary catalyst to depolymerise palm biomass wastes (empty fruit bunches or palm kernel shells) in temperature range of 350 degree Celsius to 500 degree 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 the palm biomass wastes is used as feedstock. On March 23, 2022, the Company, through Verde Malaysia, entered into a Sale of Shares Agreement (“SSA”) with The Wision Project Sdn Bhd (“Wision”), a company incorporated under the laws of Malaysia, and its sole shareholder Jack Wong, to acquire the one hundred percent (100%) of the issued and paid up ordinary shares in Wision from Mr. Wong. Under the terms of the SSA, the consideration for the acquisition shall be satisfied by the payment of MYR 1 ($0.23) upon the execution of the SSA. Wision is a digital development, marketing and consulting firm that provides public relations, branding, profile building, influencer marketing, event management and media relations services to the Company. On March 13, 2023, the Company through its wholly-owned subsidiary Verde Resources Asia Pacific Limited (“VRAP”), 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 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 disposition of the mining business via the sale of the entire issued and paid-up share capital of CSB is in line with the Company’s restructuring effort to focus on renewable energy and sustainability. The disposition of Champmark Sdn Bhd (“CSB”) was completed on April 20, 2023. 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. · Basis of Presentation These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). · Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 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 years reported. Actual results may differ from these estimates. · Basis of Consolidation The 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 future receivables. 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. · 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 $200,409 and $418,917 in cash and cash equivalents at June 30, 2023 and 2022. At and June 30, 2023, and 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 June 30, 2023 and 2022, the Company has no allowance for doubtful accounts, as per management’s judgment based on their best knowledge. As of June 30, 2023, and 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 June 30, 2023, and 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 5-10years Office equipment 3 years Project equipment 5 years Computers 5 years Motor vehicles 5 years Furniture and 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 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 with an infinite live that are not being amortized. The Company annually evaluates the recoverability of the infinite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The recoverability of these assets is measured by a comparison of the carrying amounts to the future discounted cash flows the assets are expected to generate. If such a review indicates that the carrying amount of intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value. · 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 fulfils 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. Rental income Rental income is recognized on a straight line basis over the term of the respective lease agreement. · 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 June 30, 2023, and 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 consolidated balance sheets at June 30, 2023 and 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 years ended June 30, 2023, and 2022. · Foreign Currencies Translation The Company’s reporting currency is the United States dollar (“US$”) and the accompanying consolidated financial statements have been expressed in United States dollars. The Company’s functional currency is the Malaysian Ringgit (“MYR”) which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the consolidated statement of operations. For reporting purposes, in accordance with ASC Topic 830 “Translation of Financial Statements”, capital accounts of the consolidated financial statements are translated into United States dollars from MYR at their historical exchange rates when the capital transactions occurred. Assets and liabilities are translated at the exchange rates as of balance sheet date. Income and expenditures are translated at the average exchange rate of the respective year. The gains and losses resulting from translation of financial statements subsidiaries to the reporting currency are recorded as a separate component of accumulated other comprehensive income within the statements of changes in stockholder’s equity. Translation of MYR into U.S. dollars has been made at the following exchange rates for the following periods:- June 30, 2023 June 30, 2022 Year-end MYR:US$ exchange rate 4.66795 4.40773 Annualized average MYR:US$ exchange rate 4.50684 4.23181 · Comprehensive Income ASC Topic 220, Comprehensive Income · Non-controlling Interest The Company accounts for noncontrolling interest in accordance with ASC Topic 810-10-45, which requires the Company to present noncontrolling interests as a separate component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to the noncontrolling interest be clearly identified and presented on the face of the consolidated statements of operations and comprehensive loss. · 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”. · Retirement Plan Costs Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided. · 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 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 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, loan and fee receivable, prepayments and other receivables, amounts due from related parties, accrued liabilities and other payables, loans payable, amounts due to related parties approximate their fair values because of the short maturity of these instruments. · Recent Accounting Pronouncements During the year ended June 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements.

GOING CONCERN UNCERTAINTIES

GOING CONCERN UNCERTAINTIES	12 Months Ended
	Jun. 30, 2023
GOING CONCERN UNCERTAINTIES
GOING CONCERN UNCERTAINTIES	NOTE 3 - GOING CONCERN UNCERTAINTIES The accompanying 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 $10,292,430 as of June 30, 2023. The continuation of the Company as a going concern in the next twelve months is dependent upon the Company’s success in 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 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	12 Months Ended
	Jun. 30, 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. The table also includes a reconciliation of the disaggregated revenue with the reportable segments for the years ended June 30, 2023, and 2022: Year ended June 30, 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 $ - $ - $ 92,995 $ 57,321 $ - $ 7,782 $ 158,098 Cost of revenue - - (235,704 ) - - (2,449 ) (238,153 ) Gross loss - - (142,709 ) 57,321 - 5,333 (80,055 ) Selling, general & administrative expenses (245,565 ) (2,875 ) (1,688,983 ) (158,260 ) (13,802 ) (1,106,537 ) (3,216,022 ) Loss from operations (245,565 ) (2,875 ) (1,831,692 ) (100,939 ) (13,802 ) (1,101,204 ) (3,296,077 ) Interest expense - - (36,765 ) - - (1,881,807 ) (1,918,572 ) Other income 35,596 - 1,109 - 2,439 1,176,545 1,215,689 Loss before income tax (209,969 ) (2,875 ) (1,867,348 ) (100,939 ) (11,363 ) (1,806,466 ) (3,998,960 ) Income tax - - - - - - - Net loss $ (209,969 ) $ (2,875 ) $ (1,867,348 ) $ (100,939 ) $ (11,363 ) $ (1,806,466 ) $ (3,998,960 ) Total assets at June 30, 2023 $ - $ 215,929 $ 6,293,027 $ 1,236,128 $ 30,194,966 $ 883,495 $ 38,823,545 Year ended June 30, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 25,690 $ - $ 12,479 $ 38,169 Cost of revenue - - (145,356 ) - - (145,356 ) Gross loss - - (119,666 ) - 12,479 (107,187 ) Selling, general & administrative expenses (190,240 ) (4,583 ) (201,591 ) (524,304 ) (989,462 ) (1,910,180 ) Loss from operations (190,240 ) (4,583 ) (321,257 ) (524,304 ) (976,983 ) (2,017,367 ) Interest expense - - - (1,065 ) (1,948,086 ) (1,949,151 ) Other income 11,963 - 26 115 - 12,104 Loss before income tax (178,277 ) (4,583 ) (321,231 ) (525,254 ) (2,925,069 ) (3,954,414 ) Income tax - - - - - - Net loss $ (178,277 ) $ (4,583 ) $ (321,231 ) $ (525,254 ) (2,925,069 ) $ (3,954,414 ) Total assets at June 30, 2022 $ 35,960 $ 148,703 $ 230,279 $ 1,345,156 $ 31,903,365 $ 33,663,463 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: Years ended June 30, 2023 2022 Malaysia $ 32,134 $ 38,169 United States 125,964 - $ 158,098 $ 38,169

INVENTORIES

INVENTORIES	12 Months Ended
	Jun. 30, 2023
INVENTORIES
INVENTORIES	NOTE 5 - INVENTORIES Inventories as of June 30, 2023 and 2022 consisted of the following: As of June 30, 2023 2022 Bio produce $ 95,930 $ 87,035 Others 106 - $ 96,036 $ 87,035

DEPOSIT AND PREPAYMENT

DEPOSIT AND PREPAYMENT	12 Months Ended
	Jun. 30, 2023
DEPOSIT AND PREPAYMENT
DEPOSIT AND PREPAYMENT	NOTE 6 - DEPOSITS AND PREPAYMENTS Deposits and prepayments as of June 30, 2023 and 2022 consisted of the following: As of June 30, 2023 2022 Deposits 193,995 118,516 Prepayments 375,680 722 $ 569,675 $ 119,238

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Jun. 30, 2023
INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 7 –INTANGIBLE ASSETS The intangible assets comprise a global intellectual property (“IP”) known as “Catalytic Biofraction Process”, whereby, subsidiary Bio Resources Limited (“BRL”) is the beneficial and/or registered proprietor and an exclusive licence assigned to Verde Malaysia for the operation of the IP in the state of Sabah, Malaysia. The “Catalytic Biofraction Process” 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.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Jun. 30, 2023
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT	NOTE 8 – PROPERTY, PLANT AND EQUIPMENT A summary of property, plant and equipment at June 30, 2023 and 2022 is as follows: As of June 30, 2023 2022 Land and building $ 1,264,117 $ 1,697,131 Plant and machinery 2,291,823 135,151 Office equipment 6,283 24,455 Project equipment 3,971 653,375 Computers 5,483 15,495 Motor vehicles 708,267 227,935 Furniture and fittings 12,935 2,527 4,292,879 2,756,069 Less: accumulated depreciation (258,187 ) (1,609,414 ) Foreign exchange adjustment (25,602 ) (97,762 ) $ 4,009,090 $ 1,048,893 Depreciation expense for the years ended June 30, 2023 and 2022 totaled $254,852 and $24,792, respectively. During the year, cost and accumulated depreciation of property, plant and equipment of $1,574,928 and $1,574,687 related to CSB, which was disposed during the year, have been removed. Land and building with net carrying amount of $723,981 at June 30, 2023 and $746,145 at June 30, 2022 was pledged to a financial institution for facilities granted. Plant and machinery and motor vehicles with carrying values of $849,375 and $199,144 are acquired under financing arrangements.

DEPOSITS PAID

DEPOSITS PAID	12 Months Ended
	Jun. 30, 2023
DEPOSITS PAID
DEPOSITS PAID	NOTE 9 - DEPOSITS PAID At June 30, 2023 and 2022, deposits consist of the following: As of June 30, 2023 2022 Deposits paid for acquisition of subsidiaries - Bio Resources Limited (#1) $ - $ 25,935,550 - Vata VM Synergy (M) Sdn Bhd (“VATA”) (#2) 21,423 - $ 21,423 $ 25,935,550 Deposits paid for acquisition of property, plant and equipment and IP (#3) $ - $ 5,000,000 - Factory site (#4) - 80,000 $ - $ 5,080,000 Security deposit - Factory site (#4) $ 80,000 $ - - Land and building (#5) - 240,000 $ 80,000 $ 240,000 (#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 various unrelated third parties, Taipan International Limited, The Wision Project Limited, and other individuals, in consideration of the 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 and priced at $16,290,550 considering the current market interest rate. The acquisition of BRL was subsequently closed on October 12, 2022. (#2) On March 23, 2023, the Company, through its wholly-owned subsidiary Verde Resources (Malaysia) Sdn. Bhd. (“Verde Malaysia”), 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 Verde Malaysia 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 fulfilment 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 June 30, 2023, the first payment of MYR100,000 has been made. Subsequent to year end, the Company has initiated the termination of the agreement on the grounds of non-disclosure of material information by VATA. (#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 of the assets comprising a 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 (“Segama 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 Segama 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 “La Belle Lease Agreement”) to rent 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 La Belle 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 La Belle Lease Agreement, together with a security deposit of $240,000. The La Belle 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	12 Months Ended
	Jun. 30, 2023
MINING RIGHT
MINING RIGHT	NOTE 10 - 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. Nevertheless, on April 20, 2023, the subsidiary, CSB, to whom the right belongs, was disposed. The table below presents the operating lease related assets and liabilities recorded on the balance sheets. As of June 30, 2023 2022 Balance as at the July 1, 2022 and July 1, 2021 $ 27,088 $ 60,131 Amortization charge for the period (21,832 ) (30,779 ) Foreign exchange adjustment (363 ) (2,264 ) Disposal of subsidiary (4,893 ) - Balance as of June 30, 2023 and June 30, 2022 $ - $ 27,088 Amortization charge of rights of use lease assets was $21,832 and $30,779 for the year ended June 30, 2023 and 2022, respectively.

AMOUNTS DUE TO RELATED PARTIES

AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR	12 Months Ended
	Jun. 30, 2023
AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR
AMOUNTS DUE TO RELATED PARTIES	NOTE 11 - AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR The following breakdown of the balances due to related parties and director, consisted of:- As of June 30, 2023 2022 Amount due to related companies Borneo Oil Corporation Sdn (“BOC”) (#1) $ 117,125 $ 555,527 Taipan International Limited (#2) 14,770 - Borneo Energy Sdn Bhd (#3) 119,153 - Victoria Capital Sdn Bhd (#4) 107,970 - $ 359,018 $ 555,527 Amount due to director Mr. Jack Wong (#5) $ 9,660 $ - (#1) Borneo Oil Corporation Sdn Bhd (“BOC”) is a wholly owned subsidiary of Borneo Oil Berhad (“BOB”) which holds 13.4% and 22.8% of the Company’s issued and outstanding common stock as of June 30, 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. (#2) Taipan International Limited who, pursuant to the disposal of BRL to the Company, became one of the shareholders of the Company and held 33.4% of the Company’s issued and outstanding Common Stock as of June 30, 2023. The advances are related to ordinary business transactions and bear no interest or collateral, repayable and renewable under normal business advancement terms. (#3) Borneo Oil Berhad (“BOB”) is ultimate holding company of Borneo Energy Sdn Bhd, and held 13.4% and 22.8% of the Company’s issued and outstanding common stock as of June 30, 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. (#4) Victoria Capital Sdn. Bhd. is one of the shareholders of the Company, and held 0.2% of the Company’s issued and outstanding Common Stock as of June 30, 2023.. 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, 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. On September 12, 2023, Jack Wong stepped down from his position as President of the Company, but remains as Chief Executive Office of the Company.

PROMISSORY NOTES

PROMISSORY NOTES	12 Months Ended
	Jun. 30, 2023
PROMISSORY NOTES
PROMISSORY NOTES	NOTE 12 - PROMISSORY NOTES June 30 June 30 2023 2022 Promissory Notes (#1) $ - $ 18,484,028 Promissory Notes (#2) 487,790 - $ 487,790 $ 18,484,028 (#1) Pursuant to the acquisition of the entire issued and paid-up share capital of Bio Resources Limited from various unrelated third parties, being Taipan International Limited, The Wision Project Limited and other individuals as announced on May 13, 2021, promissory notes with a principal amount of $20,355,000 and a two-year term period 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 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: June 30 June 30 2023 2022 Balance at the beginning of 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 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”) for the settlement in full of CSB’s account payable to Borneo Oil Corporation Sdn Bhd (“BOC”) by way of the issuance on March 13, 2023 of a two year term Promissory Notes with the face value (principal) amount of $675,888, and bearing 2% coupon interest. The Notes are 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 following is a reconciliation of the beginning and ending balances of promissory note: June 30 June 30 2023 2022 Balance at the beginning of year $ - $ - Promissory notes issued to related party at fair value 481,023 - Interest expense 6,767 - Balance at the end of year $ 487,790 $ - The Company recorded $1,877,739 and $1,948,086 interest expense for the years ended June 30, 2023 and 2022, respectively. Interest payable attributable to promissory notes (#2) was $4,068. A fair value adjustment of $194,865 is recognized in the Profit and Loss during the year ended June 30, 2023.

LEASES

LEASES	12 Months Ended
	Jun. 30, 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, other current liabilities and long-term lease liabilities on the 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. As of June 30, 2023 2022 Assets Right-of-use asset (#1) $ 720,000 $ 720,000 Right-of-use asset (#2) 64,910 - Total RoU assets $ 784,910 $ 720,000 Less: Amortisation (151,801 ) (34,286 ) 633,109 685,714 Liabilities Current: Operating lease liabilities $ 20,768 $ - Finance lease liabilities 172,184 75,224 Non-current: Operating lease liabilities 29,483 - Finance lease liabilities 608,455 97,900 Total lease liabilities $ 830,890 $ 173,124 As of June 30, 2023, right-of-use assets were $633,109 and lease liabilities were $830,890. As of June 30, 2022, right-of-use assets were $685,714 and lease liabilities were $173,124. For the year ended June 30, 2023 and 2022, the amortization charge on right-of-use assets was $117,517 and $34,286, 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 Segama 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 years. Years ended June 30, 2023 2022 Finance lease cost: Interest on lease liabilities (per ASC 842) $ 36,765 $ 1,065 Operating lease cost: Operating lease expense (per ASC 842) 126,388 34,286 Total lease expense $ 163,153 $ 35,351 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 June 30, 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 June 30: Years ending June 30, Operating and finance lease amount 2024 $ 244,655 2025 192,324 2026 168,791 2027 164,084 2028 104,259 Thereafter 127,432 Total minimum finance lease liabilities payment 1,001,545 Less: interest (170,655 ) Present value of lease liabilities $ 830,890 Representing:- Current liabilities $ 192,952 Non-current liabilities 637,938 $ 830,890 For the years ended June 30, 2023 and 2022, the amortization charge was $126,388 and $34,286, respectively.

STOCKHOLDERS EQUITY

STOCKHOLDERS EQUITY	12 Months Ended
	Jun. 30, 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 June 30, 2023, and 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, 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 “Ibrahim 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 Ibrahim 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 Ibrahim 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 Ibrahim 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 “Sorhus 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 Sorhus Agreement. Under the Sorhus 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 Sorhus 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 Sorhus 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 “EMGTA Agreement”) with EMGTA LLC (“EMGTA”). Under the EMGTA 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 EMGTA 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 EMGTA Agreement, the Company issued a total of 375,000 restricted Common Shares at US$0.20 per share to EMGTA. On December 9, 2022, promissory notes with a principal value of $20,355,000 was converted pursuant to a Supplementary Agreement dated December 7, 2022, to 333,142,389 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. On December 15, 2022, the Company entered into a Services Agreement (the “Looi Pei See 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 Looi Pei See 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 Looi Pei See 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. (“Verde Malaysia”), 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 Verde Malaysia 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. Subsequent to year end however, the Company initiated the termination of the SSA Agreement. 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. There were 1,176,200,278 and 819,188,055 shares of common stock issued and outstanding at June 30, 2023 and June 30, 2022, respectively. The Company has no stock option plan, warrants, or other dilutive securities.

NET LOSS PER SHARE

NET LOSS PER SHARE	12 Months Ended
	Jun. 30, 2023
Net loss per share
NET LOSS PER SHARE	NOTE 15 - NET LOSS PER SHARE The following table sets forth the computation of basic and diluted net (loss) income per share for the respective years: Years ended June 30, 2023 2022 Net loss $ (3,998,960 ) $ (3,954,414 ) Less: Net loss attributable to non-controlling interest - 6,979 Net loss attributable to Verde Resources, Inc. shareholders $ (3,998,960 ) $ (3,947,435 ) Weighted average common shares outstanding: - Basic 1,019,752,220 812,847,811 - Diluted 1,019,752,220 812,847,811 Net loss per share: - Basic $ (0.00 ) $ (0.00 ) - Diluted $ (0.00 ) $ (0.00 ) # For the years ended June 30, 2023, and 2022, diluted weighted-average common shares outstanding is equal to basic weighted-average common shares, due to the Company’s net loss position. Hence, no common stock equivalents were included in the computation of diluted net loss per share since such inclusion would have been antidilutive. The Company has no potentially dilutive securities, such as, options or warrants, currently issued and outstanding other than the restricted common stock to be issued at $0.07 per share upon conversion of the Promissory Notes with a principal amount of $675,888 at a future date to be to be mutually agreed with the Lenders, and the commitment to issue 375,000 shares, 500,000 shares and 500,000 shares to EMGTA LLC, YM Tengku Chanela Jamidah YAM Tengku Ibrahim and Steven Sorhus on or before December 31, 2023 respectively pursuant to respective contract of service.

INCOME TAX

INCOME TAX	12 Months Ended
	Jun. 30, 2023
INCOME TAX
INCOME TAX	NOTE 16 - INCOME TAX For the years ended June 30, 2023, and 2022, the local (“United States of America”) and foreign components of loss before income taxes were comprised of the following: Years ended June 30, 2023 2022 Tax jurisdiction from: - Local (US regime) $ (3,795,326 ) $ (3,130,173 ) - Foreign, including British Virgin Island 594,580 (325,539 ) Malaysia (786,851 ) (498,702 ) ALabuan, Malaysia (11,363 ) - Loss before income taxes $ (3,998,960 ) $ (3,954,414 ) The provision for income taxes consisted of the following: Years ended June 30, 2023 2022 Current tax: $ - $ - - Local - - - Foreign - - Deferred tax - Local - - - Foreign - - Income tax expense (benefit) $ - $ - The effective tax rate in the years presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company mainly operates in U.S.A. and Malaysia that is 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 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 $1,079,890 on the expected future tax benefits from the net operating loss (“NOL”) carry forwards of $5,142,333 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 years ended June 30, 2023, and 2022, there were no operating income in 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 The Company’s subsidiary is registered in Malaysia and is subject to the Malaysia corporate income tax at a standard income tax rate of 24% on chargeable income. For the year ended June 30, 2023, the operation in Malaysia incurred $472,981 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 $113,516 on the expected future tax benefits from the net operating loss (“NOL”) carry forwards as the management believes it is more likely than not that these assets will not be realized in the future. Years ended June 30, 2023 2022 Loss before income taxes $ (228,882 ) $ (498,702 ) Statutory income tax rate 24 % 24 % Income tax expense at statutory rate (54,932 ) (119,688 ) Non-deductible items 26,603 4,505 Tax losses unable to be carried forward 2,727 - Net operating loss 25,602 115,183 Income tax expense $ - $ - The following table sets forth the significant components of the deferred tax assets of the Company: As of June 30, 2023 2022 Deferred tax assets: Net operating loss carry forwards, from US tax regime $ 1,079,890 $ 169,688 Malaysia tax regime 113,516 1,259,662 Less: valuation allowance (1,193,406 ) (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 consolidated statement of operations. The Company did not have any interest and penalty provided or recognized in the income statements for years ended June 30, 2023, and June 30, 2022. The Company did not have uncertainty tax positions or events leading to uncertainty tax position within the next 12 months.

PENSION COSTS

PENSION COSTS	12 Months Ended
	Jun. 30, 2023
PENSION COSTS
PENSION COSTS	NOTE 17 - PENSION COSTS The Company is required to make contribution to their employees under a government-mandated defined contribution pension scheme for its eligible full-times employees in Malaysia. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. During the years ended June 30, 2023, and 2022, $19,961 and $7,219 contributions were made accordingly.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jun. 30, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 18 - RELATED PARTY TRANSACTIONS For the Years ended June 30, 2023 2022 Related party transactions: Sales to: Borneo Eco Food Sdn Bhd (#2) $ 12,238 $ 7,314 BOC (#4) $ 2,062 $ - Rental income: Mr. Jack Wong $ 49,121 $ - Other income – Sales of wash sand to: Jusra Mining Merapoh Sdn Bhd (#1) $ - $ 10 Site expenses: Warisan Khidmat Sdn Bhd (#3) $ 9,776 $ 16,085 Professional services provided by: Warisan Khidmat Sdn Bhd (#3) $ 18,652 $ 9,091 Interest expense paid to: Borneo Oil Corporation Sdn Bhd (#9) $ 4,068 $ - Related party balances: June 30, 2023 2022 Trade receivables Borneo Eco Food Sdn Bhd (#2) $ - $ 5,933 Deposits paid for acquisition of property, plant and equipment Borneo Energy Sdn Bhd (#2) $ - $ 5,000,000 Advanced from related parties BOC (#4) $ 117,125 $ 555,527 Borneo Energy Sdn Bhd (#2) $ 14,770 $ - Taipan International Limited (#6) $ 119,153 $ - Victoria Capital Sdn Bhd (#7) $ 107,970 $ - Trade payables Warisan Khidmat Sdn Bhd (#3) $ - $ 7,253 BOC (#4) $ 467 $ - Advanced to related party Vetrolysis Limited (#8) $ 100 $ - (#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 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 June 30, 2023 and June 30, 2022, respectively. (#3) Warisan Khidmat Sdn. Bhd. is a company whose shareholdings is entirely held by a 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 June 30, 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. On September 12, 2023, Jack Wong stepped down from his position as President of the Company, but remains as Chief Executive Office of the Company. (#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 June 30, 2023. (#7) Victoria Capital Sdn. Bhd. is one of the shareholders of the Company, and held 0.2% of the Company’s issued and outstanding Common Stock as of June 30, 2023. (#8) Encik Anuar bin Ismail, an indirect significant shareholder, is a director of Vetrolysis Limited. (#9) Borneo Oil Corporation Sdn Bhd (“BOC”) is a wholly owned subsidiary of Borneo Oil Berhad (“BOB”) which holds 13.4% and 22.8% of the Company’s issued and outstanding common stock as of June 30, 2023 and June 30, 2022, respectively. Apart from the transactions and balances detailed elsewhere in these accompanying consolidated financial statements, the Company has no other significant or material related party transactions during the years presented.

CONCENTRATIONS OF RISK

CONCENTRATIONS OF RISK	12 Months Ended
	Jun. 30, 2023
CONCENTRATIONS OF RISK
CONCENTRATIONS OF RISK	NOTE 19 - CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: (a) Major customers For the years ended June 30, 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	12 Months Ended
	Jun. 30, 2023
Commitments and contingencies
COMMITMENTS AND CONTINGENCIES	NOTE 20 - COMMITMENTS AND CONTINGENCIES As of June 30, 2023, the Company had the following commitments: a) commitment to issue restricted Common Shares to the following service provider on 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 immediately 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. Subsequent to year end, the Company has initiated the termination of the SSA agreement on the grounds of non-disclosure of material information by VATA. As of June 30, 2023, the Company has no material contingencies.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Jun. 30, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 21 - SUBSEQUENT EVENTS In accordance with ASC Topic 855, “ Subsequent Events On August 7, 2023, the Company entered into a Memorandum of Understanding (the “MOU”) with Andre van Zyl (“AvZ”) & Green Carbon Industries Group of Companies (“GCI”), headquartered in Western Australia, to actively pursue and put in place a mutually agreeable and fully funded project venture in North America, through the Company to securely ring-fence, support, preserve and implement the existing and related Intellectual Property of both parties and their respective subsidiaries/representatives, as well as to fund and support ongoing and future Research and Developments. The intended project venture will also be responsible to establish a phased implementation plan for modified, scaled Biochar and Construction Char operations, that will be paired with new Cold Bio Emulsion and Cold Bio Mix technology plant production operations to be established for the production of low CO2 footprint construction material in the territory of North America. Upon successful implementation of the project venture, there will be further option to expand operations throughout the continents of South America’s, APAC, Europe, and Africa. This technology makes possible high duty road base and road wearing course installations with superior performance, utilizing more cost-effective local soils and gravels with extended life of road performance, and substantially lower maintenance activities and cost. On September 12, 2023, Jack Wong stepped down from his position as President of the Company, but remains as Chief Executive Office of the Company. On September 12, 2023, the Board of Directors of the Company appointed Jack Wong, CEO and Director of the Company, as Chairman of the Board of Directors. On October 1, 2023, the Company appointed Eric Bava and Andre van Zyl as Chief Operating Officer and Chief Technology Officer respectively to drive the Company’s climate-tech innovation.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	These accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
Use of Estimates and Assumptions	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 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 years reported. Actual results may differ from these estimates.
Basis of Consolidation	The 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 future receivables. 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.
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 $200,409 and $418,917 in cash and cash equivalents at June 30, 2023 and 2022. At and June 30, 2023, and 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 June 30, 2023 and 2022, the Company has no allowance for doubtful accounts, as per management’s judgment based on their best knowledge. As of June 30, 2023, and 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 June 30, 2023, and 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 5-10years Office equipment 3 years Project equipment 5 years Computers 5 years Motor vehicles 5 years Furniture and 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 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 with an infinite live that are not being amortized. The Company annually evaluates the recoverability of the infinite-lived intangible assets for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. The recoverability of these assets is measured by a comparison of the carrying amounts to the future discounted cash flows the assets are expected to generate. If such a review indicates that the carrying amount of intangible assets is not recoverable, the carrying amount of such assets is reduced to fair value.
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 fulfils 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. Rental income Rental income is recognized on a straight line basis over the term of the respective lease agreement.
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 June 30, 2023, and 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 consolidated balance sheets at June 30, 2023 and 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 years ended June 30, 2023, and 2022.
Foreign Currency Translation	The Company’s reporting currency is the United States dollar (“US$”) and the accompanying consolidated financial statements have been expressed in United States dollars. The Company’s functional currency is the Malaysian Ringgit (“MYR”) which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the consolidated statement of operations. For reporting purposes, in accordance with ASC Topic 830 “Translation of Financial Statements”, capital accounts of the consolidated financial statements are translated into United States dollars from MYR at their historical exchange rates when the capital transactions occurred. Assets and liabilities are translated at the exchange rates as of balance sheet date. Income and expenditures are translated at the average exchange rate of the respective year. The gains and losses resulting from translation of financial statements subsidiaries to the reporting currency are recorded as a separate component of accumulated other comprehensive income within the statements of changes in stockholder’s equity. Translation of MYR into U.S. dollars has been made at the following exchange rates for the following periods:- June 30, 2023 June 30, 2022 Year-end MYR:US$ exchange rate 4.66795 4.40773 Annualized average MYR:US$ exchange rate 4.50684 4.23181
Comprehensive Income	ASC Topic 220, Comprehensive Income
Non-controlling Interest	The Company accounts for noncontrolling interest in accordance with ASC Topic 810-10-45, which requires the Company to present noncontrolling interests as a separate component of total shareholders’ equity on the consolidated balance sheets and the consolidated net loss attributable to the noncontrolling interest be clearly identified and presented on the face of the consolidated statements of operations and comprehensive loss.
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”.
Retirement Plan Costs	Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided.
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 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 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, loan and fee receivable, prepayments and other receivables, amounts due from related parties, accrued liabilities and other payables, loans payable, amounts due to related parties approximate their fair values because of the short maturity of these instruments.
Recent Accounting Pronouncements	During the year ended June 30, 2023, there have been no new, or existing, recently issued accounting pronouncements that are of significance, or potential significance, that impact the Company’s consolidated financial statements.

ORGANIZATION AND BUSINESS BAC_2

ORGANIZATION AND BUSINESS BACKGROUND (Tables)	12 Months Ended
	Jun. 30, 2023
ORGANIZATION AND BUSINESS BACKGROUND
Schedule of company information	Name of subsidiary Place of incorporation Principal activities and place of operation Effective interest held Verde Resources Asia Pacific Limited (“VRAP”) British Virgin Islands Investment holding 100% Verde Resources (Malaysia) Sdn Bhd (“Verde Malaysia”) 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% The Wision Project Sdn Bhd (“Wision”) Malaysia Digital innovation, marketing & consulting firm provides 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)	12 Months Ended
	Jun. 30, 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 5-10years Office equipment 3 years Project equipment 5 years Computers 5 years Motor vehicles 5 years Furniture and fittings 5 years
Schedule of foreign currencies translation	June 30, 2023 June 30, 2022 Year-end MYR:US$ exchange rate 4.66795 4.40773 Annualized average MYR:US$ exchange rate 4.50684 4.23181

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	12 Months Ended
	Jun. 30, 2023
BUSINESS SEGMENT INFORMATION
Schedule of reconciliation of the disaggregated revenue	Year ended June 30, 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 $ - $ - $ 92,995 $ 57,321 $ - $ 7,782 $ 158,098 Cost of revenue - - (235,704 ) - - (2,449 ) (238,153 ) Gross loss - - (142,709 ) 57,321 - 5,333 (80,055 ) Selling, general & administrative expenses (245,565 ) (2,875 ) (1,688,983 ) (158,260 ) (13,802 ) (1,106,537 ) (3,216,022 ) Loss from operations (245,565 ) (2,875 ) (1,831,692 ) (100,939 ) (13,802 ) (1,101,204 ) (3,296,077 ) Interest expense - - (36,765 ) - - (1,881,807 ) (1,918,572 ) Other income 35,596 - 1,109 - 2,439 1,176,545 1,215,689 Loss before income tax (209,969 ) (2,875 ) (1,867,348 ) (100,939 ) (11,363 ) (1,806,466 ) (3,998,960 ) Income tax - - - - - - - Net loss $ (209,969 ) $ (2,875 ) $ (1,867,348 ) $ (100,939 ) $ (11,363 ) $ (1,806,466 ) $ (3,998,960 ) Total assets at June 30, 2023 $ - $ 215,929 $ 6,293,027 $ 1,236,128 $ 30,194,966 $ 883,495 $ 38,823,545 Year ended June 30, 2022 Gold mineral mining Distribution of THC-free cannabinoid (CBD) products Production and distribution of renewable commodities Holding property Corporate unallocated Consolidated Revenue $ - $ - $ 25,690 $ - $ 12,479 $ 38,169 Cost of revenue - - (145,356 ) - - (145,356 ) Gross loss - - (119,666 ) - 12,479 (107,187 ) Selling, general & administrative expenses (190,240 ) (4,583 ) (201,591 ) (524,304 ) (989,462 ) (1,910,180 ) Loss from operations (190,240 ) (4,583 ) (321,257 ) (524,304 ) (976,983 ) (2,017,367 ) Interest expense - - - (1,065 ) (1,948,086 ) (1,949,151 ) Other income 11,963 - 26 115 - 12,104 Loss before income tax (178,277 ) (4,583 ) (321,231 ) (525,254 ) (2,925,069 ) (3,954,414 ) Income tax - - - - - - Net loss $ (178,277 ) $ (4,583 ) $ (321,231 ) $ (525,254 ) (2,925,069 ) $ (3,954,414 ) Total assets at June 30, 2022 $ 35,960 $ 148,703 $ 230,279 $ 1,345,156 $ 31,903,365 $ 33,663,463
Schedule of financial information, geographic segment	Years ended June 30, 2023 2022 Malaysia $ 32,134 $ 38,169 United States 125,964 - $ 158,098 $ 38,169

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Jun. 30, 2023
INVENTORIES
Schedule of inventories	As of June 30, 2023 2022 Bio produce $ 95,930 $ 87,035 Others 106 - $ 96,036 $ 87,035

DEPOSITS AND PREPAYMENTS (Table

DEPOSITS AND PREPAYMENTS (Tables)	12 Months Ended
	Jun. 30, 2023
DEPOSIT AND PREPAYMENT
Schedule of deposits and prepayments	As of June 30, 2023 2022 Deposits 193,995 118,516 Prepayments 375,680 722 $ 569,675 $ 119,238

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Jun. 30, 2023
PROPERTY, PLANT AND EQUIPMENT
Schedule of property, plant and equipment	As of June 30, 2023 2022 Land and building $ 1,264,117 $ 1,697,131 Plant and machinery 2,291,823 135,151 Office equipment 6,283 24,455 Project equipment 3,971 653,375 Computers 5,483 15,495 Motor vehicles 708,267 227,935 Furniture and fittings 12,935 2,527 4,292,879 2,756,069 Less: accumulated depreciation (258,187 ) (1,609,414 ) Foreign exchange adjustment (25,602 ) (97,762 ) $ 4,009,090 $ 1,048,893

DEPOSITS PAID (Tables)

DEPOSITS PAID (Tables)	12 Months Ended
	Jun. 30, 2023
DEPOSITS PAID
Schedule of deposit paid	As of June 30, 2023 2022 Deposits paid for acquisition of subsidiaries - Bio Resources Limited (#1) $ - $ 25,935,550 - Vata VM Synergy (M) Sdn Bhd (“VATA”) (#2) 21,423 - $ 21,423 $ 25,935,550 Deposits paid for acquisition of property, plant and equipment and IP (#3) $ - $ 5,000,000 - Factory site (#4) - 80,000 $ - $ 5,080,000 Security deposit - Factory site (#4) $ 80,000 $ - - Land and building (#5) - 240,000 $ 80,000 $ 240,000

MINING RIGHT (Tables)

MINING RIGHT (Tables)	12 Months Ended
	Jun. 30, 2023
MINING RIGHT
Schedule of Mining Right	As of June 30, 2023 2022 Balance as at the July 1, 2022 and July 1, 2021 $ 27,088 $ 60,131 Amortization charge for the period (21,832 ) (30,779 ) Foreign exchange adjustment (363 ) (2,264 ) Disposal of subsidiary (4,893 ) - Balance as of June 30, 2023 and June 30, 2022 $ - $ 27,088

AMOUNTS DUE TO RELATED PARTIE_2

AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR (Tables)	12 Months Ended
	Jun. 30, 2023
AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR
Schedule of breakdown of the balances due to related parties	As of June 30, 2023 2022 Amount due to related companies Borneo Oil Corporation Sdn (“BOC”) (#1) $ 117,125 $ 555,527 Taipan International Limited (#2) 14,770 - Borneo Energy Sdn Bhd (#3) 119,153 - Victoria Capital Sdn Bhd (#4) 107,970 - $ 359,018 $ 555,527 Amount due to director Mr. Jack Wong (#5) $ 9,660 $ -

PROMISSORY NOTES (Tables)

PROMISSORY NOTES (Tables)	12 Months Ended
	Jun. 30, 2023
PROMISSORY NOTES
Schedule of promissory notes	June 30 June 30 2023 2022 Balance at the beginning of 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 year $ - $ 18,484,028 June 30 June 30 2023 2022 Balance at the beginning of year $ - $ - Promissory notes issued to related party at fair value 481,023 - Interest expense 6,767 - Balance at the end of year $ 487,790 $ -
Schedule of fair value of the outstanding promissory notes	June 30 June 30 2023 2022 Promissory Notes (#1) $ - $ 18,484,028 Promissory Notes (#2) 487,790 - $ 487,790 $ 18,484,028
Schedule of beginning and ending balances of notes payable	Risk free rate 0.268 % Credit spread 6.513 % Liquidity risk premium 5.000 %

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Jun. 30, 2023
LEASES
Schedule of lease-related assets and liabilities	As of June 30, 2023 2022 Assets Right-of-use asset (#1) $ 720,000 $ 720,000 Right-of-use asset (#2) 64,910 - Total RoU assets $ 784,910 $ 720,000 Less: Amortisation (151,801 ) (34,286 ) 633,109 685,714 Liabilities Current: Operating lease liabilities $ 20,768 $ - Finance lease liabilities 172,184 75,224 Non-current: Operating lease liabilities 29,483 - Finance lease liabilities 608,455 97,900 Total lease liabilities $ 830,890 $ 173,124
Schedule of lease expense	Years ended June 30, 2023 2022 Finance lease cost: Interest on lease liabilities (per ASC 842) $ 36,765 $ 1,065 Operating lease cost: Operating lease expense (per ASC 842) 126,388 34,286 Total lease expense $ 163,153 $ 35,351
Schedule of Future Contractual Lease Payments	Years ending June 30, Operating and finance lease amount 2024 $ 244,655 2025 192,324 2026 168,791 2027 164,084 2028 104,259 Thereafter 127,432 Total minimum finance lease liabilities payment 1,001,545 Less: interest (170,655 ) Present value of lease liabilities $ 830,890 Representing:- Current liabilities $ 192,952 Non-current liabilities 637,938 $ 830,890

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	12 Months Ended
	Jun. 30, 2023
Net loss per share
Schedule of computation of basic and diluted net (loss) income per share	Years ended June 30, 2023 2022 Net loss $ (3,998,960 ) $ (3,954,414 ) Less: Net loss attributable to non-controlling interest - 6,979 Net loss attributable to Verde Resources, Inc. shareholders $ (3,998,960 ) $ (3,947,435 ) Weighted average common shares outstanding: - Basic 1,019,752,220 812,847,811 - Diluted 1,019,752,220 812,847,811 Net loss per share: - Basic $ (0.00 ) $ (0.00 ) - Diluted $ (0.00 ) $ (0.00 )

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Jun. 30, 2023
INCOME TAX
Schedule of income (loss) before income taxes	Years ended June 30, 2023 2022 Tax jurisdiction from: - Local (US regime) $ (3,795,326 ) $ (3,130,173 ) - Foreign, including British Virgin Island 594,580 (325,539 ) Malaysia (786,851 ) (498,702 ) ALabuan, Malaysia (11,363 ) - Loss before income taxes $ (3,998,960 ) $ (3,954,414 )
Schedule of provision for income taxes	Years ended June 30, 2023 2022 Current tax: $ - $ - - Local - - - Foreign - - Deferred tax - Local - - - Foreign - - Income tax expense (benefit) $ - $ -
Schedule of effective tax rate	Years ended June 30, 2023 2022 Loss before income taxes $ (228,882 ) $ (498,702 ) Statutory income tax rate 24 % 24 % Income tax expense at statutory rate (54,932 ) (119,688 ) Non-deductible items 26,603 4,505 Tax losses unable to be carried forward 2,727 - Net operating loss 25,602 115,183 Income tax expense $ - $ -
Schedule of significant components of the deferred tax assets	As of June 30, 2023 2022 Deferred tax assets: Net operating loss carry forwards, from US tax regime $ 1,079,890 $ 169,688 Malaysia tax regime 113,516 1,259,662 Less: valuation allowance (1,193,406 ) (1,429,350 ) Deferred tax assets, net $ - $ -

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Jun. 30, 2023
RELATED PARTY TRANSACTIONS
Schedule of Related party transactions	For the Years ended June 30, 2023 2022 Related party transactions: Sales to: Borneo Eco Food Sdn Bhd (#2) $ 12,238 $ 7,314 BOC (#4) $ 2,062 $ - Rental income: Mr. Jack Wong $ 49,121 $ - Other income – Sales of wash sand to: Jusra Mining Merapoh Sdn Bhd (#1) $ - $ 10 Site expenses: Warisan Khidmat Sdn Bhd (#3) $ 9,776 $ 16,085 Professional services provided by: Warisan Khidmat Sdn Bhd (#3) $ 18,652 $ 9,091 Interest expense paid to: Borneo Oil Corporation Sdn Bhd (#9) $ 4,068 $ -
Schedule of Related party balances	Related party balances: June 30, 2023 2022 Trade receivables Borneo Eco Food Sdn Bhd (#2) $ - $ 5,933 Deposits paid for acquisition of property, plant and equipment Borneo Energy Sdn Bhd (#2) $ - $ 5,000,000 Advanced from related parties BOC (#4) $ 117,125 $ 555,527 Borneo Energy Sdn Bhd (#2) $ 14,770 $ - Taipan International Limited (#6) $ 119,153 $ - Victoria Capital Sdn Bhd (#7) $ 107,970 $ - Trade payables Warisan Khidmat Sdn Bhd (#3) $ - $ 7,253 BOC (#4) $ 467 $ - Advanced to related party Vetrolysis Limited (#8) $ 100 $ -

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Jun. 30, 2023
Commitments and contingencies
Schedule of commitments of issuing share for services	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)	12 Months Ended
	Jun. 30, 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%
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%
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%
The Wision Project Sdn Bhd [Member]
Place of incorporation	Malaysia
Principal activities and place of operation	Digital innovation, marketing & consulting firm provides 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%

ORGANIZATION AND BUSINESS BAC_4

ORGANIZATION AND BUSINESS BACKGROUND (Details Narrative) - USD ($)				1 Months Ended			12 Months Ended
	Jun. 08, 2022	May 12, 2021	May 10, 2021	Dec. 31, 2022	Nov. 30, 2022	Mar. 23, 2022	Jun. 30, 2023	Dec. 09, 2022	Jun. 30, 2022
Common stock, shares issued							1,176,200,278		819,188,055
Restricted common stock, share issuance in consideration, per share				$ 0.20	$ 0.001		$ 0.07
Represents information about Gold billion global limited.
Variable interest, ownership percentage	100%
Sale and Purchase Agreement [Member]
Common stock, shares issued		30,000,000						321,500,000
Common stock, share issuance in consideration, per share			$ 0.03
Restricted common stock, share issuance in consideration			321,500,000
Restricted common stock, share issuance in consideration, value			$ 9,645,000
Convert principal loan amount into shares of the restricted common stock		$ 20,355,000
Share Sale Agreement [Member]
Restricted common stock, share issuance in consideration, per share						$ 0.23

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Jun. 30, 2023
Office Equipment [Member]
Estimated useful lives	3 years
Furniture & fttings [Member]
Estimated useful lives	5 years
Project Equipment [Member]
Estimated useful lives	5 years
Computer [Member]
Estimated useful lives	5 years
Motor Vehicle [Member]
Estimated useful lives	5 years
Land and Building [Member] | Maximum [Member]
Estimated useful lives	27 years 6 months
Land and Building [Member] | Minimum [Member]
Estimated useful lives	3 years
Plant And Machinery [Member] | Maximum [Member]
Estimated useful lives	10 years
Plant And Machinery [Member] | Minimum [Member]
Estimated useful lives	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1)	Jun. 30, 2023	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Foreign Currency Exchange Rate	4.66795	4.40773
Annualized average Foreign Currency Exchange Rate	4.50684	4.23181

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and cash equivalents	$ 200,409	$ 418,917
Intangible assets acquired finite lives	10 years
Credit term	60 days

GOING CONCERN UNCERTAINTIES (De

GOING CONCERN UNCERTAINTIES (Details Narrative)	Jun. 30, 2023 USD ($)
GOING CONCERN UNCERTAINTIES
Accumulated deficit	$ (10,292,430)

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 158,098	$ 38,169
Cost of revenue	(238,153)	(145,356)
Gross loss	194,865
Selling, general and administrative expenses	(3,216,022)	(1,905,301)
Interest expense	(1,918,572)	(1,949,151)
Other income	1,215,689	12,104
Loss before income tax	(3,998,960)	(3,947,435)
Income tax	0	0
Net loss for the year	(3,998,960)	(3,954,414)
Total assets	38,823,545	33,663,463
Licensor of proprietary pyrolysis technology [Member]
Revenue	0
Cost of revenue	0
Gross loss	0
Selling, general and administrative expenses	(13,802)
Loss from operations	(13,802)
Interest expense	0
Other income	2,439
Loss before income tax	(11,363)
Income tax	0
Net loss for the year	(11,363)
Total assets	30,194,966
Gold Mineral Mining [Member]
Revenue	0	0
Cost of revenue	0	0
Gross loss	0	0
Selling, general and administrative expenses	(245,565)	(190,240)
Loss from operations	(245,565)	(190,240)
Interest expense	0	0
Other income	35,596	11,963
Loss before income tax	(209,969)	(178,277)
Income tax	0	0
Net loss for the year	(209,969)	(178,277)
Total assets	0	35,960
Distribution of THC-free cannabinoid (CBD) products [Member]
Revenue	0	0
Cost of revenue	0	0
Gross loss	0	0
Selling, general and administrative expenses	(2,875)	(4,583)
Loss from operations	(2,875)	(4,583)
Interest expense	0	0
Other income	0	0
Loss before income tax	(2,875)	(4,583)
Income tax	0	0
Net loss for the year	(2,875)	(4,583)
Total assets	215,929	148,703
Production and Distribution of Renewable Commodities [Member]
Revenue	92,995	25,690
Cost of revenue	(235,704)	(145,356)
Gross loss	(142,709)	(119,666)
Selling, general and administrative expenses	(1,688,983)	(201,591)
Loss from operations	(1,831,692)	(321,257)
Interest Expense	(36,765)	0
Other income	1,109	26
Loss before income tax	(1,867,348)	(321,231)
Income tax	0	0
Net loss for the year	(1,867,348)	(321,231)
Total assets	6,293,027	230,279
Holding Property [Member]
Revenue	57,321	0
Cost of revenue	0	0
Gross loss	57,321	0
Selling, general and administrative expenses	(158,260)	(524,304)
Loss from operations	(100,939)	(524,304)
Interest expense	0	(1,065)
Other income	0	115
Loss before income tax	(100,939)	(525,254)
Income tax	0	0
Net loss for the year	(100,939)	(525,254)
Total assets	1,236,128	1,345,156
Corporate Unallocated [Member]
Revenue	7,782	12,479
Cost of revenue	(2,449)	0
Gross loss	5,333	12,479
Selling, general and administrative expenses	(1,106,537)	(989,462)
Loss from operations	(1,101,204)	(976,983)
Interest Expense	(1,881,807)	(1,948,086)
Other income	1,176,545	0
Loss before income tax	(1,806,466)	(2,925,069)
Income tax	0	0
Net loss for the year	(1,806,466)	(2,925,069)
Total assets	883,495	31,903,365
Consolidated [Member]
Revenue	158,098	38,169
Cost of revenue	(238,153)	(145,356)
Gross loss	(80,055)	(107,187)
Selling, general and administrative expenses	(3,216,022)	(1,910,180)
Loss from operations	(3,296,077)	(2,017,367)
Interest Expense	(1,918,572)	(1,949,151)
Other income	1,215,689	12,104
Loss before income tax	(3,998,960)	(3,954,414)
Income tax	0	0
Net loss for the year	(3,998,960)	(3,954,414)
Total assets	$ 38,823,545	$ 33,663,463

BUSINESS SEGMENT INFORMATION _2

BUSINESS SEGMENT INFORMATION (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 158,098	$ 38,169
Operating Segment [Member]
Revenue	158,098	38,169
Operating Segment [Member] | United States [Member]
Revenue	125,964	0
Operating Segment [Member] | Malaysia [Member]
Revenue	$ 32,134	$ 38,169

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Inventories	$ 96,036	$ 87,035
Others [Member]
Inventories	106	0
Bio Produce [Member]
Inventories	$ 95,930	$ 87,035

DEPOSITS AND PREPAYMENTS (Detai

DEPOSITS AND PREPAYMENTS (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
DEPOSIT AND PREPAYMENT
Deposits	$ 193,995	$ 118,516
Prepayments	375,680	722
Deposit and prepayment	$ 569,675	$ 119,238

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative)	Jun. 30, 2023 USD ($)
Intangible Assets Member
Revenue	$ (30,192,771)

PROPERTY PLANT AND EQUIPMENT (D

PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Property, plant and equipment, gross	$ 4,292,879	$ 2,756,069
Less: accumulated depreciation	(258,187)	(1,609,414)
Foreign exchange adjustment	(25,602)	(97,762)
Property, plant and equipment, net	4,009,090	1,048,893
Office Equipment [Member]
Property, plant and equipment, gross	6,283	24,455
Project Equipment [Member]
Property, plant and equipment, gross	3,971	653,375
Computer [Member]
Property, plant and equipment, gross	5,483	15,495
Land and Building [Member]
Property, plant and equipment, gross	1,264,117	1,697,131
Plant And Machinery [Member]
Property, plant and equipment, gross	2,291,823	135,151
Motor Vehicle [Member]
Property, plant and equipment, gross	708,267	227,935
Furniture & fittings [Member]
Property, plant and equipment, gross	$ 12,935	$ 2,527

PROPERTY PLANT AND EQUIPMENT _2

PROPERTY PLANT AND EQUIPMENT (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
PROPERTY, PLANT AND EQUIPMENT
Depreciation expenses	$ 254,852	$ 24,792
Plant and machinery and motor vehicles, Carrying value	849,375	199,144
Land and Building	723,981	746,145
Cost and accumulated depreciation of property, plant and equipment	$ 1,574,928	$ 1,574,687

DEPOSITS PAID (Details)

DEPOSITS PAID (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Deposits paid for acquisition of subsidiaries	$ 21,423	$ 25,935,550
Deposits paid for acquisition of property and equipment	0	5,000,000
Security deposit	80,000	240,000
Land and Building [Member]
Other deposits	0	240,000
Bio Resources Limited (#1) [Member]
Deposits paid for acquisition of subsidiaries	0	25,935,550
Factory site (#4) [Member]
Deposits paid for acquisition of property and equipment	0	5,080,000
Security deposit	80,000	0
Other deposits	0	80,000
Vata VM Synergy [Member]
Deposits paid for acquisition of subsidiaries	$ 21,423	$ 0

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	Jun. 30, 2023	Feb. 17, 2023	Jul. 01, 2021
Shares issued				135,666,667		1,375,000	714,285	31,000,000
SSA Agreement [Member]
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 fulfilment 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%
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
Amount of shares issued under acquisition			$ 9,645,000
Shares issued price under acquisition			$ 0.03
Number of shares issued under acquisition			321,500,000
promissory note priced			$ 16,290,550
Biofraction plant [Member] | Sale and Purchase Agreement [Member]
Amount of shares issued under acquisition				$ 5,000,000
Shares issued price under acquisition				$ 0.03
Number of shares issued under acquisition				166,666,667
Lease Agreements [Member]
Lease Terms	7 years	2 years
Rent payable	$ 8,571	$ 10,000
Landlord consideration	720,000	490,000
Security deposit	$ 80,000	$ 240,000

MINING RIGHT (Details)

MINING RIGHT (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
MINING RIGHT
Balance as at the July 1, 2022 and July 1, 2021	$ 27,088	$ 60,131
Amortization charge for the year	(21,832)	(30,779)
Foreign exchange adjustment	(363)	(2,264)
Disposal of subsidiary	(4,893)	0
Balance as of June 30, 2023 and June 30, 2022	$ 0	$ 27,088

MINING RIGHT (Details Narrative

MINING RIGHT (Details Narrative) - USD ($)		12 Months Ended
	Jun. 13, 2023	Jun. 30, 2023	Jun. 30, 2022
MINING RIGHT
Lump sum payments for rent	$ 62,260
Amortization charge of rights of use lease assets		$ 21,832	$ 30,779
Lease term		2

AMOUNTS DUE TO RELATED PARTIE_3

AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Amount due to director	$ 359,018	$ 555,527
Taipan International Limited [Member]
Amount due to director	14,770	0
Borneo Energy Sdn Bhd [Member]
Amount due to director	119,153	0
Victoria Capital Sdn Bhd [Member]
Amount due to director	107,970	0
Borneo Oil Corporation Sdn
Amount due to director	117,125	555,527
Mr. Jack Wong
Amount due to director	$ 9,660	$ 0

AMOUNTS DUE TO RELATED PARTIE_4

AMOUNTS DUE TO RELATED PARTIES AND DIRECTOR (Details Narrative)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Taipan International Limited [Member]
Holding share percentage	33.40%
Victoria Capital Sdn Bhd [Member]
Holding share percentage	0.20%
Borneo Oil Corporation Sdn Bhd
Holding share percentage	13.40%	22.80%
Borneo Oil Berhad [Member]
Holding share percentage	13.40%	22.80%
Mr. Jack Wong
Lease Terms	1 year

PROMISSORY NOTES (Details)

PROMISSORY NOTES (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Promissory note	$ 487,790	$ 18,484,028
Promissory Note 1 [Member]
Promissory note	0	18,484,028
Promissory Note 2 [Member]
Promissory note	$ 487,790	$ 0

PROMISSORY NOTES (Details 1)

PROMISSORY NOTES (Details 1)	12 Months Ended
	Jun. 30, 2023
PROMISSORY NOTES
Risk free interest	0.26%
Credit spread	6.51%
Liquidity risk premium	5%

PROMISSORY NOTES (Details 2)

PROMISSORY NOTES (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 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 3)

PROMISSORY NOTES (Details 3) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
PROMISSORY NOTES
Balance at the beginning of year	$ 0	$ 0
Promissory notes issued to unrelated third parties at fair value	481,023	0
Interest expenses	6,767	0
Balance at the end of year	$ 487,790	$ 0

PROMISSORY NOTES (Details Narra

PROMISSORY NOTES (Details Narrative) - USD ($)		12 Months Ended
	Mar. 13, 2023	Jun. 30, 2023	Jun. 30, 2022	Apr. 21, 2023	Feb. 17, 2023	Dec. 09, 2022	Nov. 07, 2022	Jul. 15, 2022	Jan. 20, 2022	May 13, 2021	May 10, 2021
Stock price per share					$ 0.07				$ 0.0611		$ 0.03
Interest expenses		$ 1,877,739	$ 1,948,086
Profit and Loss		194,865
Issuance shares of restricted common stock						333,142,389
Interest payable attributable to promissory notes		$ 4,068
Common stock per share						$ 0.0611
Debt Agreement [Member]
Face value principal amount	$ 675,888
Common stock per share	$ 0.07
Coupan interest	2%
May 12, 2021 [Member] | Promissory Note [Member]
Face value principal amount										$ 20,355,000
May 12, 2025 [Member] | Promissory Note [Member]
Stock price per share		$ 0.07
Face value principal amount		$ 481,023
Risk free interest rate		4.03%
Credit spread percentage		11.60%
Liquidity Risk Premium		5.60%
Restricted Stock [Member]
Stock price per share				$ 0.07			$ 0.088	$ 0.155
Face value principal amount										20,355,000
Restricted Stock [Member] | Lisa Leilani Zimmer [Member]
Face value principal amount										$ 20,355,000

LEASES (Details)

LEASES (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Operating lease liabilities current	$ 20,768	$ 0
Finance lease liabilities current	172,184	75,224
Operating lease liabilities Non current	29,483	0
Finance lease liabilities Non current	608,455	97,900
Lease Assets And Liabilities [Member]
Right-of-use asset #1	720,000	720,000
Right-of-use asset #2	64,910	0
Total Rou Assets	784,910	720,000
Less: Amortisation	(151,801)	(34,286)
Total Assets	633,109	685,714
Operating lease liabilities current	20,768	0
Finance lease liabilities current	172,184	75,224
Operating lease liabilities Non current	29,483	0
Finance lease liabilities Non current	608,455	97,900
Total lease liabilities	$ 830,890	$ 173,124

LEASES (Details 1)

LEASES (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Finance lease cost
Interest on lease liabilities	$ 36,765	$ 1,065
Operating lease cost
Amortisation charge for the year	126,388	34,286
Total lease expense	$ 163,153	$ 35,351

LEASES (Details 2)

LEASES (Details 2)	Jun. 30, 2023 USD ($)
Operating And Finance Lease Maturities
2024	$ 244,655
2025	192,324
2026	168,791
2027	164,084
2028	104,259
Thereafter	127,432
Total minimum finance lease liabilities payment	1,001,545
Less imputed interest	(170,655)
Present value of lease liabilities	830,890
Current liabilities	192,952
Non-current liabilities	637,938
Finance Lease Liability	$ 830,890

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Weighted average remaining life of the lease	10 years
Right Of Use Asset	$ 633,109	$ 685,714
Weighted average incremental borrowing rate	5%
Lease liabilities	$ 830,890	173,124
Amortization charge on right of assets	117,517	34,286
Amortization charge	126,388	$ 34,286
Lease	$ 720,000
Lease term	7 years
Motor Vehicle [Member]
Lease	$ 84,718
Lease term	3 years
Lease Agreements [Member]
Weighted average remaining life of the lease	3 years

STOCKHOLDERS EQUITY (Details Na

STOCKHOLDERS EQUITY (Details Narrative) - USD ($)				1 Months Ended						12 Months Ended
	Nov. 07, 2022	Jul. 15, 2022	May 10, 2021	Apr. 21, 2023	Mar. 23, 2023	Dec. 31, 2022	Dec. 09, 2022	Dec. 04, 2022	Nov. 30, 2022	Jun. 30, 2023	Feb. 17, 2023	Sep. 30, 2022	Jun. 30, 2022	Jan. 20, 2022	Jul. 01, 2021	May 13, 2021
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
Issuance of shares			166,666,667
Common stock shares issued, shares										1,176,200,278			819,188,055
Issuance shares of restricted common stock							333,142,389
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			$ 0.001
Preferred stock, par value (in dollars per share)										$ 0.001			$ 0.001
Stock-based compensation under selling, general and administrative expenses										$ 232,500
Stock price per share			$ 0.03								$ 0.07			$ 0.0611
Restricted common stock, share issuance in consideration, per share						$ 0.20			$ 0.001	$ 0.07
Notes Payable										$ 487,790			$ 18,484,028
Common stock per share							$ 0.0611
Shares issued			135,666,667							1,375,000	714,285				31,000,000
Stock, value			$ 5,000,000							$ 1,176,200	$ 50,000		$ 819,188
Restricted common stock, share issuance in consideration		1,000,000				500,000			1,000,000
One Non-US Shareholder [Member]
Restricted common stock, share issuance in consideration, per share	$ 0.088
Restricted common stock, share issuance in consideration	15,036,362
Restricted common stock, share issuance in value	1,323,200
Private Placement [Member]
Common stock shares issued, shares												15,328,029
Restricted common stock, share issuance in consideration, per share	$ 0.072
Restricted common stock, share issuance in consideration	291,667
Restricted common stock, share issuance in value	21,000
Supplementary Agreement
Issuance shares of restricted common stock							333,142,389
Common stock per share							$ 0.0611
Face value principal amount							$ 20,355,000
Steven Sorhus [Member]
Restricted common stock, share issuance in consideration, per share										$ 0.20
Restricted common stock, share issuance in consideration										300,000
Restricted Stock [Member]
Common stock shares issued, shares	603,181	1,500,000		1,428,571
Stock price per share	$ 0.088	$ 0.155		$ 0.07
Restricted common stock, share issuance in consideration, per share				$ 0.104			$ 0.12	$ 0.001
Face value principal amount																$ 20,355,000
Stock, value	$ 53,080			$ 100,000
Restricted common stock, share issuance in considerations				480,768			1,500,000
Restricted common stock, share issuance in value				50,000
Restricted Stock [Member] | December 1, 2022 [Member] | Two Tranches [Member]
Common stock shares issued, shares						375,000
Restricted common stock, share issuance in consideration, per share										$ 0.20
Description of Agreement term										The term of the EMGTA Agreement will be for a fixed period of twenty-five (25) months
Restricted common stock, share issuance in consideration									500,000	375,000
Restricted Stock [Member] | Lisa Leilani Zimmer [Member]
Common stock shares issued, shares		500,000
Face value principal amount																$ 20,355,000
Restricted Stock [Member] | Chan Hoi Kwong Paul [Member] | December 1, 2022 [Member]
Restricted common stock, share issuance in consideration, per share										$ 0.001
Restricted common stock, share issuance in consideration										750,000
Restricted Stock [Member] | Looi Pei See [Member]
Restricted common stock, share issuance in consideration, per share										$ 0.20
Description of Agreement term										The term of the Looi Pei See Agreement will be for a fixed period of thirty-six (36) months
Restricted common stock, share issuance in consideration										1,140,000
Restricted Stock [Member] | Steven Sorhus [Member]
Common stock shares issued, shares	800,000
Stock price per share	$ 0.001
Description of Trances shares distribution										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 Sorhus Agreement will be for a fixed period of twenty-five (25) months
Shares issued										500,000
On March 13, 2023 [Member]
Notes Payable										$ 675,888

NET LOSS PER SHARE (Details)

NET LOSS PER SHARE (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Net loss for the year	$ (3,998,960)	$ (3,954,414)
Less: Net loss attributable to non-controlling interest	0	6,979
Net loss attributable to Verde Resources, Inc. shareholders	$ (3,998,960)	$ (3,947,435)
Weighted average common shares outstanding (Basic)	1,019,752,220	812,847,811
Weighted average common shares outstanding (Diluted)	1,019,752,220	812,847,811
Common Share [Member]
Basic	$ 0	$ 0
Diluted	$ 0	$ 0

NET LOSS PER SHARE (Details Nar

NET LOSS PER SHARE (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Restricted common stock per share | $ / shares	$ 0.07
Principal amount | $	$ 675,888
Steven Sorhus [Member]
Issuance of shares	500,000
EMGTA LLC [Member]
Issuance of shares	375,000
YM Tengku Chanela Jamidah YAM Tengku Ibrahim [Member]
Issuance of shares	500,000

INCOME TAX (Details)

INCOME TAX (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Loss before income taxes	$ (3,998,960)	$ (3,954,414)
Foreign, including British Virgin IslandMember
Loss before income taxes	594,580	(325,539)
Labuan, Malaysia [Member]
Loss before income taxes		0
Local (US regime) Member
Loss before income taxes	(3,795,326)	(3,130,173)
Malaysia Regime [Member]
Loss before income taxes	(786,851)	$ (498,702)
ALabuan, Malaysia [Member]
Loss before income taxes	$ (11,363)

INCOME TAX (Details 1)

INCOME TAX (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
INCOME TAX
Current tax	$ 0	$ 0
Local	0	0
Foreign	0	0
Deferred tax
Local	0	0
Foreign	0	0
Income tax expense benefit	$ 0	$ 0

INCOME TAX (Details 2)

INCOME TAX (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
INCOME TAX
Loss before income taxes	$ (228,882)	$ (498,702)
Statutory income tax rate	24%	24%
Income tax expense at statutory rate	$ (54,932)	$ (119,688)
Tax losses unable to be carried forward	2,727	0
Net operating loss	25,602	115,183
Non-deductible items	26,603	4,505
Income tax expense benefit	$ 0	$ 0

INCOME TAX (Details 3)

INCOME TAX (Details 3) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
INCOME TAX
US tax regime	$ 1,079,890	$ 169,688
Malaysia tax regime	113,516	1,259,662
Less: valuation allowance	(1,193,406)	(1,429,350)
Deferred tax assets, net	$ 0	$ 0

INCOME TAX (Details Narrative)

INCOME TAX (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($)
Net operating loss carryforwards, from	$ 5,142,333
Deferred tax assets	$ 1,079,890
Minimum Member
U.S. corporate income tax rate	21%
Labuan [Member]
Valuation allowance - Malaysia Rate	24%
Malaysia [Member]
Valuation allowance - Malaysia Rate	24%
Net operating loss carryforwards, from	$ 472,981
Deferred tax assets	$ 113,516

PENSION COSTS (Details Narrativ

PENSION COSTS (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
PENSION COSTS
Pension cost	$ 19,961	$ 7,219

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Sales to :
Borneo Eco Food Sdn Bhd (#2)	$ 12,238	$ 7,314
BOC (#4)	2,062	0
Other income - Sales of wash sand to:
Jusra Mining Merapoh Sdn Bhd (#1)	0	10
Site expenses [Member]
Warisan Khidmat Sdn Bhd (#3)	9,776	16,085
Professional services provided by [Member]
Warisan Khidmat Sdn Bhd (#3)	18,652	9,091
Rental Income :
Mr. Jack Wong	49,121	0
Interest expense paid to:
Borneo Oil Corporation Sdn Bhd (#9)	$ 4,068	$ 0

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Deposits paid for acquisition of property, plant and equipment [Member]
Borneo Energy Sdn Bhd (#2)	$ 0	$ 5,000,000
Trade Receivables [Member]
Borneo Eco Food Sdn Bhd (#2)	0	5,933
Advanced To Related Parties [Member]
Advanced To Vetrolysis Limited (#8)	100	0
Trade Payables [Member]
BOC (#4)	467	0
Warisan Khidmat Sdn Bhd (#3)	0	7,253
Advanced From Related Parties [Member]
BOC (#4)	117,125	555,527
Borneo Energy Sdn Bhd	14,770	0
Victoria Capital Sdn Bhd	107,970	0
Taipan International Limited	$ 119,153	$ 0

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative)	1 Months Ended	12 Months Ended
	Oct. 20, 2021	Jun. 30, 2023
Debt Agreement [Member]
Director term		1 year
Lamax Gold Limited [Member]
Equity interests	15%
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 June 30, 2023 and June 30, 2022, respectively
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 June 30, 2023
Borneo Oil Corporation Sdn Bhd
Description of equity held		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 June 30, 2023 and June 30, 2022, respectively)
Description of holding share percentage		Borneo Oil Corporation Sdn Bhd (“BOC”) is a wholly owned subsidiary of Borneo Oil Berhad (“BOB”) which holds 13.4% and 22.8% of the Company’s issued and outstanding common stock as of June 30, 2023 and June 30, 2022, respectively.
Victoria Capital Sdn. Bhd. [Member]
Description of equity held		Victoria Capital Sdn. Bhd. is one of the shareholders of the Company, and held 0.2% of the Company’s issued and outstanding Common Stock as of June 30, 2023

CONCENTRATIONS OF RISK (Details

CONCENTRATIONS OF RISK (Details narrative)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Major Customers [Member]
No single customer whose revenue exceeded	10%	10%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - shares	Jun. 30, 2023	Feb. 17, 2023	Jul. 01, 2021	May 10, 2021
Shares issued	1,375,000	714,285	31,000,000	135,666,667
Restricted Stock [Member] | Steven Sorhus [Member]
Shares issued	500,000
Restricted Stock [Member] | EMGTA LLC [Member]
Shares issued	375,000
Restricted Stock [Member] | YM Tengku Chanela Jamidah YAM Tengku Ibrahim [Member]
Shares issued	500,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2023 MYR (RM)	Feb. 17, 2023 $ / shares	Jan. 20, 2022 $ / shares	May 10, 2021 $ / shares
Stock price per share | $ / shares			$ 0.07	$ 0.0611	$ 0.03
May 12, 2025 [Member] | Promissory Note [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%