NAMI (NINK) 10-K 21 Nov 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Jun. 30, 2023	Nov. 20, 2024	Dec. 31, 2022
Cover [Abstract]
Entity Registrant Name	NAMI CORP.
Entity Central Index Key	0001567388
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
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	No
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		1,426,927,346
Entity Public Float			$ 0
Document Annual Report	true
Document Transition Report	false
Document Fin Stmt Error Correction Flag	false
Entity File Number	333-187007
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	61-1693116
Entity Address Address Line 1	112 North Curry Street
Entity Address City Or Town	Carson City
Entity Address Postal Zip Code	89703-4934
City Area Code	609
Auditor Name	L J Soldinger Associates, LLC
Auditor Location	Deer Park, IL
Local Phone Number	5158380
Entity Interactive Data Current	No
Auditor Firm Id	318

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Current Assets
Cash and cash equivalents	$ 5,390	$ 7,487
Other receivables and deposits	22,703	30,263
Total Current Assets	28,093	37,750
Property, plant and equipment, net	11,401	16,473
TOTAL ASSETS	39,494	54,223
Current Liabilities
Accounts payable	135,348	202,160
Accrued interest	9,070	0
Deferred revenue	117,798	124,739
Other payable and accruals	69,078	0
Amount due to related parties	3,561,517	3,570,704
Amount due to unrelated parties	1,062,142	1,139,770
Project advances	693,576	454,734
Project financing investment note, net of discount	1,477,559	1,105,988
Total Current liabilities	7,126,088	6,598,095
TOTAL LIABILITIES	7,126,088	6,598,095
STOCKHOLDERS' DEFICIT
Capital Stock - Authorized 5,000,000,000 shares of common stock; $0.001 par value, 1,426,927,346 shares issued and outstanding June 30, 2023 and 2022	1,426,927	1,426,927
Additional paid-in capital	1,055,144	840,009
Accumulated deficit	(10,192,711)	(9,213,670)
Accumulated other comprehensive income	624,046	334,454
Stockholders' deficit	(7,086,594)	(6,543,872)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	39,494	54,223
Series A Preferred Stock [Member]
Current Liabilities
Series A Preferred, MYR 1 par value; 50,000,000 shares authorized; June 30, 2023 0 shares and June 30, 2022 280,000 shares issued and outstanding, respectively	$ 0	$ 68,408

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Jun. 30, 2022
Common stock, shares authorized	5,000,000,000	5,000,000,000
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares issued	1,426,927,346	1,426,927,346
Common stock, shares outstanding	1,426,927,346	1,426,927,346
Preferred Stock Shares Outstanding	0	280,000
Series A Preferred Stock [Member]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	280,000
Preferred Stock Shares Outstanding	0	280,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue
Sales	$ 0	$ 0
Cost of Goods Sold	0	47
Gross Loss	0	(47)
Operating Expenses
Depreciation of property and equipment	4,371	5,318
General and administrative expenses	193,094	214,170
Professional Fees	80,435	216,002
Exploration expenditure	36,121	287,244
Total Operating Expenses	314,021	722,734
Loss from Operations	(314,021)	(722,781)
Other Income (Expense)
Other income	86	1,329
Interest expense	(449,971)	(1,555,970)
Interest expense, related parties	(215,135)	(239,932)
Change in fair value of derivative liability	0	201,291
Total Other Expenses	(665,020)	(1,593,282)
Loss before taxation	(979,041)	(2,316,063)
Income taxes	0	0
Net Loss	(979,041)	(2,316,063)
Dividend on Series A Preferred Stock	0	(3,861)
Net loss attributable to common stockholders	(979,041)	(2,319,924)
Other Comprehensive Income (Loss)
Foreign currency translation adjustments	289,592	272,782
Total Comprehensive Loss	$ (689,449)	$ (2,043,281)
Basic and Diluted Loss per Common Share	$ 0	$ 0
Basic and Diluted Weighted Average Common Shares Outstanding	1,426,927,346	1,426,927,346

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders Deficit - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated other comprehensive loss
Balance, shares at Jun. 30, 2021		280,000	1,426,927,346
Balance, amount at Jun. 30, 2021	$ (4,736,663)	$ 68,408	$ 1,426,927	$ 600,076	$ (6,893,746)	$ 61,672
Preferred dividend	(3,861)	0	0	0	(3,861)	0
Imputed interest	239,933	0	0	239,933	0	0
Foreign currency translation adjustment	272,782	0	0		0	272,782
Net Loss	(2,316,063)	$ 0	$ 0	0	(2,316,063)	0
Balance, shares at Jun. 30, 2022		280,000	1,426,927,346
Balance, amount at Jun. 30, 2022	(6,543,872)	$ 68,408	$ 1,426,927	840,009	(9,213,670)	334,454
Imputed interest	215,135	0	0	215,135	0	0
Foreign currency translation adjustment	289,592	0	0	0	0	289,592
Net Loss	(979,041)	$ 0	0	0	(979,041)	0
Redemption of preferred shares by related party shares		(280,000)
Redemption of preferred shares by related party amount	(68,408)	$ (68,408)	$ 0	0	0	0
Balance, shares at Jun. 30, 2023			1,426,927,346
Balance, amount at Jun. 30, 2023	$ (7,086,594)	$ 0	$ 1,426,927	$ 1,055,144	$ (10,192,711)	$ 624,046

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	$ (979,041)	$ (2,316,063)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Depreciation of property and equipment	4,371	5,318
Imputed interest contributed as additional paid in capital	215,135	251,247
Amortization of debt discount	448,602	1,543,740
Change in fair value of derivative liability	0	(205,000)
Expenses paid directly through a related party	(156)	156
Expenses paid directly through an unrelated party	0	5,262
Accrued interest	804	0
Change in assets and liabilities
Accounts payable and accrued liabilities	15,539	40,026
Other payables and accruals	6,070	0
Other payable and accruals	5,179	128,661
Net cash used in operating activities	(283,497)	(546,653)
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash provided by investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Project financing advances proceeds	273,782	417,183
Preferred dividends	0	(3,861)
Repayment of project financings	0	(614,512)
Advances received from related parties	79,382	155,608
Advances received from an unrelated party	3,811	640,194
Repayments of related party advances	(14,659)	(26,664)
Repayments of advances to an unrelated party	(45,870)	(47,993)
Net cash provided by financing activities	296,446	519,955
Effects on changes in foreign exchange rate	(15,046)	10,182
Net change in cash and cash equivalents	(2,097)	(16,516)
Cash and cash equivalents - beginning of period	7,487	24,003
Cash and cash equivalents - end of period	5,390	7,487
Supplemental Cash Flow Disclosures
Cash paid for interest	0	483,662
Cash paid for income taxes	0	0
Non-Cash Investing and Financing Activity:
Reclassification of project advances to project financing debt	$ 0	$ (47,699)

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2023
Organization and Summary of Significant Accounting Policies
Organization and Summary of Significant Accounting Policies	Note 1 – Organization and Summary of Significant Accounting Policies The Company was incorporated in the State of Nevada as a for-profit Company on September 5, 2012. On July 12, 2018, we completed a reverse acquisition transaction through a share exchange with GMCI, the sole shareholder of SBS Mining Corp. Malaysia Sdn. Bhd (“SBS”), whereby we acquired 100% of the outstanding shares of SBS from GMCI in exchange for the issuance of a total of 720,802,346 shares of our common stock to GMCI, representing 102.08% of our pre-merger issued and outstanding shares of common stock. As a result of the reverse acquisition, SBS became our wholly-owned subsidiary and the former SBS Shareholders, GMCI and subsequently its shareholders, became our controlling stockholders. The share exchange transaction was treated as a recapitalization, with SBS as the acquirer and the Company as the acquired party for accounting purposes. Unless the context suggests otherwise, when we refer in this report to business and financial information for periods prior to the consummation of the reverse acquisition, we are referring to the business and financial information of SBS. On July 19, 2018, the Company was notified that the Board of GMCI deemed it to be in the best interests of GMCI and its stockholders for GMCI to approve and declare a dividend of restrictive shares of Nami to the stockholders of GMCI, on a pro rata basis, determined in accordance with the number of shares of capital stock of GMCI held by such stockholders, thereby transferring ownership of 100% of the outstanding restricted shares of Nami owned directly by GMCI to the stockholders of GMCI (collectively, the “Nami Stock Dividend”). The Nami Stock Dividend was completed on August 21, 2018. SBS Mining Corp. Malaysia Sdn. Bhd., is a Malaysian corporation whose primary business is mining, exploration and trading of certain mineral ores and properties located in Malaysia. During fiscal year 2017 the Company commenced revenue generating operations as a result of its mineral trading business. Essentially all of the Company’s property, plant and equipment assets are held in Malaysia. The functional currency of the Company is the Malaysian Ringgit (MYR or RM). Fiscal Year The Company’s fiscal year end is June 30. Basis of Presentation The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States. Principles of Consolidation The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary SBS Mining Corp. Malaysia Sdn. Bhd. All significant intercompany accounts and transactions have been eliminated. Reclassifications Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net (loss). Use of Estimates and Assumptions The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company has significant estimates in regards to the inputs used for valuation of the derivative associated with the contingent interest of its Project Investment Financing debt. Actual results when ultimately realized could differ from these estimates. Revenue Recognition The Company recognizes revenue from the sale of mined sand from the Sea Sand Mining Project (see Note 10) in accordance with ASC 606 “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company’s sales are derived from the sale of mined sand to our customers. The Company recognizes revenue at a point in time when it satisfies its obligation by transferring control of the mined sand to the customer. The cost of sales includes dredging cost, rental of land, docket fees and site expenses. During the years ended June 30, 2023 and 2022, the Company did not record any revenue and recorded cost of sales and gross loss of $0 and $47, respectively. Cash and Cash Equivalents The company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2023 and 2022, cash includes cash on hand and cash in the bank. The Company operates in Malaysia where deposit insurance for deposits is provided up to RM 250,000 (approximately US $60,000). From time to time the Company’s account balances may exceed that limit. Inventories Inventories are stated at lower of cost or net realizable value, with cost being determined on the weighted average method. No reserves are considered necessary for slow moving or obsolete inventory as no inventory was on hand at year-end. The Company continuously evaluates the adequacy of these reserves and makes adjustments to these reserves as required. During the years ended June 30, 2023 and 2022, the Company did not produce any mined sand. Additionally, the Company did not hold any inventories as of June 30, 2023 and 2022. Fair Value of Financial Instruments The Company’s financial instruments consist primarily of cash and equivalents, other receivables and deposits, due from related party, accounts payable, other payables and accruals, due to related party, due to unrelated party, project advances and royalty obligation. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The Company adopted ASC Topic 820, Fair Value Measurements (“ASC Topic 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The standard provides a consistent definition of fair value which focuses on an exit price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard also prioritizes, within the measurement of fair value, the use of market-based information over entity specific information and establishes a three-level hierarchy for fair value measurements based on the nature of inputs used in the valuation of an asset or liability as of the measurement date. The three-level hierarchy for fair value measurements is defined as follows: Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; liabilities in active markets; Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability other than quoted prices, either directly or indirectly, including inputs in markets that are not considered to be active; or directly or indirectly including inputs in markets that are not considered to be active; Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement Foreign Currencies Functional and Presentation Currency - Transactions and Balances Plant and Equipment Depreciation Plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated on a straight-line basis to write off the cost of plant and equipment over their expected useful lives at the following annual rates: Motor Vehicles 20 % Office equipment 33 % Tools and equipment 33 % Computer and software 33 % Leasehold improvements Term of lease Furniture and Fixtures 33 % Mineral Properties The Company is engaged in the business of the acquiring, exploring, developing, mining, and producing mineral properties and or resources, with a current emphasis on sea sand mining (see Note 9) and previous emphasis on iron ore, bauxite and tin. Mineral claims and other property acquisition costs are capitalized as incurred. Such costs are carried as an asset of the Company and JHW until it becomes apparent through exploration activities that the cost of such properties will not be realized through mining operations. Mineral exploration costs are expensed as incurred, and when it becomes apparent that a mineral property can be economically developed as a result of establishing proven or probable reserve, the exploration costs, along with mine development costs, are capitalized. The costs of acquiring mineral claims, capitalized exploration costs, and mine development costs are recognized for depletion and amortization purposes under the units-of-production method over the estimated life of the probable and proven reserves. If mineral properties, exploration, or mine development activities are subsequently abandoned or impaired, any capitalized costs are charged to operations in the current period. Exploration Expenditures Exploration, acquisition (except for property purchase costs), and general and administrative costs related to exploration projects and prospecting activities are charged to expense as incurred. During the years ended June 30, 2023 and 2022, the Company recorded exploration expenditures of $36,121 and $287,244, respectively. Such expenditures have been incurred in order to provide the information necessary to the Malaysian Department of the Environment to work towards the renewal of its dredging license for three additional years, to expand the potential cubic meters available to dredge within its current license area from the current 19.1 km to 40 km and acquire additional licenses. The Company’s policy is to expense these costs as incurred. As part of the agreement with One Standard Continent SDH, Bhd. (“OSC”) (see Note 9), OSC agreed to reimburse the Company for expenditures associated with certain costs directly attributable to the Company acquiring and maintaining dredging rights in the ocean waters off the coast of Malaysia. For the year ended June 30, 2023, OSC has provided project advances of approximately $264,000 (RM 1,233,300) (Note 10). For the year ended June 30, 2022, OCS reimbursed the Company approximately $290,000 (RM 1,263,000) related to those costs. The Company has accounted for those reimbursements as a direct reduction of its exploration costs. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company did not record any impairment of long-lived assets during the years ended June 30, 2023 and 2022. Leases FASB ASC 842 “Leases” requires lessees to record lease assets and liabilities for operating leases and disclose key information about leasing arrangements. Upon entering into an arrangement, the Company evaluates whether the arrangement provides the Company with the ability to control the use of the asset over the term of the lease. If an arrangement contains a lease, upon commencement of the arrangement, the Company recognizes an operating lease right-of-use asset and a corresponding operating lease liability. The amount of the operating lease right-of-use asset is measured utilizing the present value of the future minimum lease payments over the lease term. The Company has not recognized any right-of-use assets or lease liabilities as of June 30, 2023 and 2022. Segment Reporting FASB ASC 820 “Segments Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. Our proposed future business segments are expected to span more than one geographical area. Specifically, the Company intends to generate revenue through mineral trading and exploration activities. See Note 12. Income Taxes On July 1, 2021, the Company adopted Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This standard has been adopted on a prospective basis and the adoption of this standard does not have a material impact on the Company’s financial statements. The asset and liability method is used in the Company’s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are determined based on the temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. In estimating future tax consequences, all expected future events are considered other than enactment of changes in the tax law or rates. The Company adopted ASC 740 “Income Taxes,” The determination of recording or releasing tax valuation allowance is made, in part, pursuant to an assessment performed by management regarding the likelihood that the Company will generate future taxable income against which benefits of its deferred tax assets may or may not be realized. Loss Per Share The Company follows the provisions of ASC Topic 260, Earnings per Share Basic earnings per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock or conversion of notes into shares of the company’s common stock that could increase the number of shares outstanding and lower the earnings per share of the company’s common stock. This calculation is not done for periods in a loss position as this would be antidilutive. As of June 30, 2023 and 2022, there were 0 and approximately 42,336 potentially diluted common shares outstanding from 280,000 shares of preferred stock, respectively. Stock-based compensation Effective July 1, 2020, the Company adopted the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Update (“ASU”) ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This update addresses several aspects of the accounting for nonemployee share-based payment transactions and expands the scope of ASC 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The main provisions of the update change the way nonemployee awards are measured in the financial statements. Under the simplified standards, nonemployee options will be valued once at the date of grant, as compared to at each reporting period end under ASC 505-50. Companies are permitted to make elections to establish the expected term and either recognize forfeitures as they occur or apply a forfeiture rate. Recently issued accounting pronouncements There are several new accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) which are not yet effective. Each of these pronouncements, as applicable, has been or will be adopted by the Company. As of June 30, 2023, none of these pronouncements are expected to have a material effect on the financial position, results of operations or cash flows of the Company.

Going Concern

Going Concern	12 Months Ended
	Jun. 30, 2023
Going Concern
Going Concern	Note 2 – Going Concern For the year ended June 30, 2023, the Company reported a net loss of approximately $1.0 million. In addition, as of June 30, 2023, the Company had a working capital deficit of approximately $7.1 million with cash on hand of approximately $5,400. The Company believes that its existing capital resources are not adequate to enable it to execute its business plan and, as of the date of these financial statements, the Company has no firm commitment for either additional debt or equity financing available to it in order to meet its current commitments. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. The Company estimates that it will require significant additional cash resources during fiscal 2024 and beyond, as JHW received its main permit from the Government of Malaysia to commence sea sand mining in January 2019 and further in April 2021, received its export license contingent on receiving updated dredging area rights (see Note 9). The sea sand mining license expired on January 9, 2022 and was renewed for an additional three year period, commencing on August 2, 2022 and ending in August 1, 2025. A second sea sand mining and dredging license was granted for a term of three years from October 20, 2023, to October 19, 2026. The accompanying financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern. If we fail to generate positive cash flow or obtain additional financing, when required, we may have to modify, delay, or abandon some or all of our business and expansion plans. The Company’s plan is to continue to work with JHW, and sub operators, such as One Standard Continent SDN BHD (“OSC”) to mine and export sea sand (Note 9). The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amount and classification of liabilities that might result from this uncertainty.

Plant and Equipment

Plant and Equipment	12 Months Ended
	Jun. 30, 2023
Plant and Equipment
Plant and Equipment	Note 3 – Plant and Equipment June 30, June 30, 2023 2022 Cost Motor Vehicles $ 9,638 $ 14,742 Office equipment 8,983 24,143 Computers and software 11,655 12,816 Tools and equipment 454 481 Furniture and Fixture 33,205 35,161 63,935 87,343 Accumulated Depreciation (52,534 ) (70,870 ) Plant and Equipment, Net $ 11,401 $ 16,473 Depreciation for the years ended June 30, 2023 and 2022 was $4,371 and $5,318, respectively.

Other receivable and deposits

Other receivable and deposits	12 Months Ended
	Jun. 30, 2023
Other receivable and deposits
Other receivable and deposits	Note 4 – Other receivable and deposits June 30, June 30, 2023 2022 Sundry receivables $ 16,192 $ 23,367 Other receivable 5,676 6,011 Deposits, including utility, security deposits 835 885 $ 22,703 $ 30,263

Related party advances and expe

Related party advances and expenses	12 Months Ended
	Jun. 30, 2023
Related party advances and expenses
Related party advances and expenses	Note 5 – Related party advances and expenses Advances from related parties: June 30, June 30, 2023 2022 Advances from its Directors $ 1,179,482 $ 1,093,752 Advances from related party 1,742,978 1,799,611 Advances from holding company 639,057 677,341 Total $ 3,561,517 $ 3,570,704 During the year ended June 30, 2023 and 2022, the Company received advances from directors of $79,382 and $155,608, respectively and repaid advances from a director of $14,659 and $26,664, respectively. The Company also repaid $156 of expenses paid directly by a related party in the prior year. The Company has imputed interest at the rate of approximately 6.5% on the advances made to the Company in the amount of $215,136 and $239,932 during the years ended June 30, 2023 and 2022, respectively. Concentration of Risk To date the Company has been reliant on funding from related parties and OSC as the Company does not have the current existing capital resources to execute its business plan.

Due to unrelated parties

Due to unrelated parties	12 Months Ended
	Jun. 30, 2023
Due to unrelated parties
Due from unrelated parties	Note 6 – Due to unrelated parties During the years ended June 30, 2023 and 2022, the Company received advances from an unrelated party of $3,811 and $640,194, respectively and repaid advances from an unrelated party of $45,870 and $47,993, respectively. During the years ended June 30, 2023 and 2022, expenses of $0 and $5,262, respectively, were paid directly through the unrelated party. As of June 30, 2023 and 2022, the Company has recorded a liability due to the unrelated party of $1,062,142 and $1,139,770, respectively. These amounts are unsecured, non-interest bearing and due on demand. As of the date of these financial statements were issued, no demand for repayment has been received by the Company.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2023
Commitments and Contingencies
Commitments and Contingencies	Note 7 – Commitments and Contingencies Other Matters On July 1, 2019, the Company entered into a corporate services agreement (the “Corporate Services Agreement”) with Nami Development Capital Sdn. Bhd. (“NDC”). Pursuant to the terms of the Corporate Services Agreement, NDC will provide general corporate and administrative services, including, but not limited to, accounting and payroll services and human resources support, to the Company and SBS. The Company and SBS will each pay a monthly retainer and reimburse the out-of-pocket expenses reasonably incurred by NDC in connection with the provision of these services as compensation to NDC. Additionally, the Company and SBS will each reimburse NDC for any service taxes, as well as any other taxes, incurred in connection with NDC’s carrying out this Corporate Services Agreement. Either party may terminate the Corporate Services Agreement upon 90 days’ written notice, provided that the non-terminating party reserves the right to negotiate for a longer period in order to effect an orderly transition. Prior to Q2 2019, the Company and NDC were determined to be related parties by virtue of their relationships with Mr. Lew Sze How and Mr. MW Jason Chan. Messrs. Lew and Chan were directors and shareholders of NDC while serving as officers of the Company. However, on May 30, 2019, Messrs. Lew and Chan resigned as directors of NDC; and on June 14, 2019, they ceased to be shareholders of NDC. Messrs. Lew resigned as the Company’s Chief Financial Officer in January of 2022. Mr. Chan remains an officer of the Company. Accordingly, the Company and NDC are no longer related parties. From time to time the Company may be subject to proceedings, lawsuits, and other claims related to government agencies, operations, shareholders and contracts. The Company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of accrual required, if any, for these contingencies is made after analysis of each matter. The required accrual, if any, may change in the future due to new developments in each matter or changes in settlement strategies. The Company does not believe that there are presently any such matters that will have a material adverse effect on its financial condition or results of operations.

Share Capital

Share Capital	12 Months Ended
	Jun. 30, 2023
Share Capital
Share Capital	Note 8 – Share Capital Common Stock The Company’s capitalization is 5,000,000,000 common shares with a par value of $0.001 per share. As of June 30, 2023 and 2022, the Company has not granted any stock options and has not recorded any stock-based compensation. On July 4, 2018, the Company entered into a Share Exchange Agreement with GMCI, as the shareholder (the “SBS Shareholders”) of SBS Mining Corp. Malaysia Sdn. Bhd., a Malaysian corporation (“SBS”), pursuant to which the Company acquired 100% of the issued and outstanding shares of SBS from GMCI in exchange for the issuance of 720,802,346 shares of the Company to GMCI. As a result of the Exchange, SBS became wholly owned subsidiary of NAMI and GMCI became majority shareholder of NAMI owning 50.51% of capital stock of the Company. On July 19, 2018, the Company was notified that GMCI approved and declared a dividend of shares of Nami to the stockholders of GMCI, on a pro rata basis, determined in accordance with the number of shares of capital stock of GMCI held by such stockholders, thereby transferring ownership of 100% of the outstanding shares of Nami held by GMCI to the stockholders of the GMCI (collectively, the “Nami Stock Dividend”). The Nami Stock Dividend was completed on August 21, 2018. As of June 30, 2023 and 2022, the Company had 1,426,927,346 common shares issued and outstanding. Preferred Shares - SBS In August 2018, SBS designated a new class of preferred equity, designated the 12% redeemable cumulative preference shares, in its attempt to raise capital for business expansion and exploration and mining activities. SBS authorized the issuance of up to 50 million shares at the issue price of RM 1.0 per share. The new preferred equity carries a cumulative 12% preferred dividend, payable on a quarterly basis, based on the issue price of the preferred security. The preferred dividend will have priority to any payment of dividends on the common equity. The preferred shares automatically convert to NAMI Corp common shares two years after issuance if not converted earlier at the rate of USD $1.50 on then value translated into USD of each 12% redeemable cumulative preference share. In the event of the liquidation or winding up of SBS, the preferred shares are entitled to distributions prior to any amounts distributed to the common equity holders. The holders of the preferred shares, so long as the cumulative preferred dividend is timely paid each quarter, have no general voting rights, but have rights to vote on any matters that effect the provisions of the preference shares. In the event that SBS fails to timely make its quarterly dividend payment, the holders of the preferred equity receive the right to vote on any and all general corporate matters on a 1 for 1 basis with the number of preferred shares held. As of June 30, 2023 and, 2022, dividends in arrears totalled $0 and $19,051 (MYR 84,00), respectively. The Company has determined that the COVID 19 provisions passed by the Government of Malaysia are in essence force majeure provisions, and therefore the failure to pay the dividends and convert under the agreements are not enforceable by the holders. The Company has informed the preferred shareholders of its intention to make final dividend payments and convert their shares into common shares of Nami Corp. on or about June 2022. The preferred shareholders have accepted the Company’s new proposed payment schedule. In August 2018, the Company received approximately $59,530 (MYR 240,000) in the first subscription of its 12% redeemable cumulative preference shares (see below). In August 2018, the Company received approximately $8,878 (MYR 40,000) in a second subscription of its 12% redeemable cumulative preference shares (see below). The preferred share subscription offering was closed on February 28, 2019. During the years ended June 30, 2023 and 2022, preferred dividends of $0 and $3,861, respectively, was distributed to the holders of the preferred shares. During the year ended June 30, 2023, a director of the Company redeemed the 280,000 preferred shares for approximately $63,560 (MYR 280,000) and paid 46,667 of common shares on behalf of the Company. The redemption has been included in amounts owed to related parties. Instruments Convertible into Common or Preferred Shares As at June 30, 2023, SBS had 0 shares of preferred stock outstanding. As at June 30, 2022, SBS had 280,000 shares of preferred stock outstanding convertible into 42,336 common shares.

Sea Sand Mining Project

Sea Sand Mining Project	12 Months Ended
	Jun. 30, 2023
Sea Sand Mining Project
Sea Sand Mining Project	Note 9 – Sea Sand Mining Project On August 30, 2017, SBS entered into an irrevocable right of use (“IRU”) agreement with JHW Holdings Sdn. Bhd. (“JHW”), whereby SBS was given exclusive rights to operate mining and extraction activities on the designated area (1,113 square kilometers outside the waters of the state of Terengganu, Malaysia, subject to certain terms and conditions therein) and manage all matters relating to the operations. The Company currently estimates that the acreage available under the IRU will provide approximately 5 years of sustained mining operations. As part of the IRU, the Company is responsible for all permitting costs (both for mining operation and for the right to sell the mined sand internationally) at both the state and federal levels of all applicable ministries and departments in Malaysia. As compensation for the IRU, the Company is obligated to remit to JHW on a quarterly basis, 25% of the profits from the mining activities, as defined within the agreement. The Company submitted the required environmental and engineering assessments as part of the permitting process for approximately 383 square kilometres, and in January 2019, JHW was issued by the government of Malaysia the first set of permits necessary to commence sea sand mining operations. The final approved area was 20.48km² within the jurisdiction of the state of Terengganu, Malaysia (the “Area”). The Company is required to prepay RM 500,000 of future royalty amounts due under the agreement with JHW, of which SBS funded RM 250,000 (approximately $60,000) as of June 30, 2021. On June 30, 2020 the Company determined that the recoverable amount of this prepayment was $0 and recorded an expense of $59,478 in cost of goods sold associated with the write-down. In April 2021, the Malaysia Ministry of Energy and Natural Resources granted JHW a license approval for the export of sea sand dredged from the current license area. The export license is restricted as follows (a) the license extends for so long as the dredging license remains active (b) exports may only occur to China, Japan and Hong Kong (c) limited to approximately 19.64 million in cubic meters of sea sand that may be exported and (d) the licensee is required to abide with the conditions and requirements under the Sea Sand Mining License clauses under the Continental Shelf Act of Malaysia of 1966, as prescribed by the Department of the Director General of Lands and Mines. In the third and 4 th In May 2022, the Company and OSC entered into a Sea Sand Sub-Operator Mining Agreement. Under this agreement, the Company has transferred all of its rights to dredge sea sand under the JHW licenses from its original contract in 2017 (see above) along with rights to any additional rights obtained in the future to OSC. In consideration for this, OSC agreed to remit to SBS a tribute fee in the amount of RM 11.50 per cubic meter of dredged sea sand. The Company will bear responsibility for payment of 25% to JHW and a royalty to the Ministry of Land and Natural Resources of MYR 0.70 per cubic meter dredged. In August 2022, the sea sand mining and dredging license was renewed for an additional three year period, commencing on August 2, 2022 and ending in August 1, 2025. On October 20, 2023 the Company, which is in a joint venture with JHW Holdings Sdn Bhd, a private limited company incorporated in Malaysia (“JHW”), received a second sea sand mining and dredging license from the Ministry of Energy and Natural Resources (Kementerian Tenaga dan Sumber Asli) (“KeTSA”). The license No. is 0146 and is a sea mining concession area of 21.10 square kilometers and includes an approved dredged sand volume of 31,650,000 cubic meters (m3). The mining and dredging license was granted for a term of three years from October 20, 2023, to October 19, 2026.

Sea Sand Dredging Project Finan

Sea Sand Dredging Project Financing	12 Months Ended
	Jun. 30, 2023
Sea Sand Dredging Project Financing
Sea Sand Dredging Project Financing	Note 10 – Sea Sand Dredging Project Financing Project advances In December 2020, the Company accepted an offer from Royal Resources PTE Ltd. (“Royal Resources”) related to a Sea Sand Dredging Project (the “Sea Sand Dredging Project”) located at Kawasan Luar Perairan Negeri Terengganu. In accordance with the offer, an advance payment (the “Advance”) of $49,236 (MYR 200,000) was required upon signing of the acceptance letter and was received during the nine months ended March 31, 2021. Until such time as a formal agreement is reached and signed, the Company has treated the amount received as a non-interest bearing, undocumented advance, due upon demand. Upon signing an agreement with Royal Resources, the Company will receive an additional approximate $410,500 (MYR 1,800,000) from Royal Resources. As of the date of issuance of these financial statements, no formal agreement has been entered into and the additional funding has not been received. In April 2021, the Company received advances from two investors (the “Investors”) related to this Sea Sand Dredging Project with total proceeds of $48,476 (MYR 200,000). Upon receipt of the funds, the Company had treated the amounts received as undocumented, non-interest bearing, due on demand advances. On August 3, 2021, the Company entered into agreements with the two investors and reclassified these deposits to project investment financing debt. During the year ended June 30, 2022, the Company was advanced approximately $410,000 (RM 1,805,000) by OSC on a non-interest bearing, undocumented, due on demand basis. During the year ended June 30, 2023, on a verbal basis, the Company and OSC agreed to amend the Sea Sand Sub-Operator Mining Agreement payment terms such that additional payments were added under the agreement consisting of (1) RM 2 million are required in advance of the startup of the mining operations and upon commencement an additional RM 3.15 million fee is payable. As of June 30, 2023 the RM 2 million has been received (approximately $428,000) and is included in project advances. In addition, the company has received approximately $264,000 (RM 1,233,300) in advances during the year ended June 30, 2023. Project Investment financing debt In May 2021, the Company received proceeds of approximately $484,760 (MYR 2,000,000) in exchange for a debt agreement with certain investors. As part of the financing agreement, in the event that the Company is unsuccessful in exporting for sale sea sand dredged from its license area, is required to repay the amount of the debt in full with 2% interest per annum, calculated on a daily basis. In the event that the Company is successful in obtaining an export license and upon obtaining an environmental management plan, the Company is required to begin 18 monthly payments with a guaranteed monthly payment of approximately $0.48 (RM 2) per cubic meter of dredged sand sold and 200,000 cubic meters per month, which is approximately $95,900 (MYR 400,000). As part of the agreement, certain directors of SBS and the Company guaranteed approximately $1,198,600 (MYR 5,000,000) to the investors. On August 3, 2021, the Company reached debt agreements with two investors who had provided financing of approximately $48,476 (MYR 200,000) to the Company in April 2021. As part of the financing agreement, in the event that the Company is unsuccessful in exporting for sale sea sand dredged from its license area, the Company will be required to repay the amount of the debt in full with 2% interest per annum, calculated on a daily basis. In the event that the Company is successful in obtaining an export license and upon obtaining an environmental management plan, the Company is required to begin 18 monthly payments with a guaranteed monthly payment of approximately $0.02 (RM 0.10) per cubic meter of dredged sand sold and 200,000 cubic meters per month, which is approximate $4,800 (MYR 20,000). The Company failed to make its first minimum payment to these investors in February 2022, which the Company believes constitutes a material breach of such agreement. As a result, the Company reclassified the outstanding combined balance of $60,241 to current liabilities. Through June 30, 2022 and the date these financial statements were issued, the investors have not yet demanded re-payment. The Company has accounted for the settlement feature that requires repayment based on a minimum of dredged sand as a derivative. The Company valued the alternate payment stream by computing the difference in discounted value of the debt instrument between the imputed rate of the payment stream to certain pricing services Junk debt in the United States (as there is no readily available widely used service in Malaysia) as of the inception dates in May 2021 and August 2021 of approximately 43% and 41%, respectively and estimating that payments would begin in February 2021 at inception and then accelerating repayment beginning in August 2021 as of June 30, 2021 for the May 2021 investment. At inception, the Company recorded derivative liabilities in the amount of $345,369 and $35,317, on May 2021 and August 2021 debt agreements, respectively, which have been recorded as a discount to the amount loaned to the Company. In June 2022, the Company determined that a change in estimate was required, that the likelihood of payment due to sales of dredged sea sand during the term of the financings has become very remote and therefore the Company reverted accounting for the notes to the required minimum payments under the respective financing agreements outstanding as of June 30, 2022, discounted at the rate for S&P rated CCC- notes at their inception. The following table shows the activity for the fair value of the contingent interest liability for June 30, 2022: Fair value at June 30, 2021 $ 208,969 Additions - Change in fair value due to change in estimate (201,291 ) Change in foreign exchange - Redemption (7,678 ) Fair value at June 30, 2022 $ - Additions - Fair value at June 30, 2023 $ -

Short-term loans

Short-term loans	12 Months Ended
	Jun. 30, 2023
Short-term loans
Short-term loans	Note 11 – Short-term loans (I) On August 25, 2021, the Company entered into a short-term loan agreement, in which the Company received approximately $47,700 (MYR 200,000), with principal and interest of approximately $2,385 (MYR 10,000) due in full on September 30, 2021. During the year ended June 30, 2022, the Company paid the principal and interest balances in full and recorded interest expense of $2,385 (MYR 10,000), and as of June 30, 2022 there were no remaining liabilities associated with this short-term loan agreement. (ii) On August 25, 2021, the Company entered into an additional short-term loan agreement, in which the Company received approximately $42,900 (MYR 180,000), with principal and interest of approximately $858 (MYR 3,600) due in full on September 30, 2021. The Company did not repay the balance prior to the deadline, and as of June 30, 2022, the Company had defaulted on this loan, resulting in a default interest rate of 2% per month until the debt has been repaid in full. During the year ended June 30, 2022, the Company recorded interest expense of $6,808 (MYR 29,748) associated with the loan. As of June 30, 2023, the principal balance of the loan principal was fully paid and accrued interest is approximately $6,808 (MYR 29,748). (iii) On April 1, 2022, the Company entered into a short-term loan agreement, in which the Company received approximately $7,100 (MYR 30,000). As of June 30, 2023, the remaining principal balance of the loan is approximately $6,804 (MYR 30,000).

Geographic Segment Reporting

Geographic Segment Reporting	12 Months Ended
	Jun. 30, 2023
Geographic Segment Reporting
Geographic Segment Reporting	Note 12 – Geographic Segment Reporting The following table shows operating activities information by geographic segment for the years ended June 30, 2023 and 2022: Year Ended June 30, 2023 USA Malaysia Total Revenue $ - $ - $ - Cost of Goods Sold - - - Depreciation of property, plant and equipment - (4,371 ) (4,371 ) General and administrative expenses (48,985 ) (144,109 ) (193,094 ) Professional fees (73,023 ) (7,412 ) (80,435 ) Exploration expenditures - (36,121 ) (36,121 ) Other expenses (60,512 ) (604,508 ) (665,020 ) Net loss $ (182,520 ) $ (796,521 ) $ (979,041 ) Year Ended June 30, 2022 USA Malaysia Total Revenue $ - $ - $ - Cost of Goods Sold - (47 ) (47 ) Depreciation of property, plant and equipment - (5,318 ) (5,318 ) General and administrative expenses (100,541 ) (113,629 ) (214,170 ) Professional fees (213,496 ) (2,506 ) (216,002 ) Exploration expenditures - (287,244 ) (287,244 ) Other expenses (84,200 ) (1,509,082 ) (1,593,282 ) Net loss $ (398,237 ) $ (1,917,826 ) $ (2,316,063 ) The following table shows assets information by geographic segment at June 30, 2023 and 2022: As of June 30, 2023 USA Malaysia Total Current assets $ - $ 28,093 $ 28,093 Property and equipment, net - 11,401 11,401 Total assets $ - $ 39,494 $ 39,494 As of June 30, 2022 USA Malaysia Total Current assets $ - $ 37,750 $ 37,750 Property and equipment, net - 16,473 16,473 Total assets $ - $ 54,223 $ 54,223

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2023
Income Taxes
Income Taxes	Note 13 – Income Taxes The Company uses the liability method, where deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. Since their inceptions, the Company and its wholly owned subsidiary incurred net losses and, therefore, have no tax liability, as the Company has recorded a valuation allowance fully covering all net deferred tax assets for itself and SBS for all periods presented. The cumulative net operating loss carry-forward in the US is approximately $4.1 million and approximately $5.1 million in Malaysia at June 30, 2023, respectively and will begin to expire in 2034 in Malaysia. Net deferred tax assets were made up of the following items as of June 30: 2023 2022 Deferred tax assets: Impairment of related party receivables $ - $ 94,000 Net operating loss carryforwards 1,789,400 1,580,600 Total long-term deferred tax asset 1,789,400 1,674,600 Deferred tax liabilities: Related party liabilities (28,900 ) (28,900 ) Total deferred tax liabilities (28,900 ) (28,900 ) Valuation Allowance (1,760,500 ) (1,645,700 ) Total Net Deferred Tax Assets $ - $ - The difference from the reported income tax benefit to that expected from the loss from operations computed using the United States statutory federal income tax rate of 21% compared to the Malay statutory federal income tax rate of 24%: 2023 2022 Expected income tax benefit $ (205,600 ) $ (486,000 ) Permanent timing difference (3,200 ) (8,100 ) Other - - Difference in tax rates between US and Malaysia (29,400 ) (70,000 ) Valuation allowance 238,200 564,100 Reported income tax expense (benefit) $ - $ -

Deferred Revenue

Deferred Revenue	12 Months Ended
	Jun. 30, 2023
Deferred Revenue
Deferred Revenue	Note 14 – Deferred Revenue During the year ended June 30, 2022, the Company received approximately $124,739 (MYR 550,000) from OSC in advance of the contract entered into May 27, 2022, where the Company entered into an operator agreement with OSC, in which OSC has been provided with the ability to carry out all dredging activities, all transportation, insurance, risk management and export in an area comprised of 21.10 sq/km. within the Company’s 325.3 sq/km concession area. As part of this transaction, the Company and OSC have executed a power of attorney and exclusive sole marketing agent agreement. The power of attorney allows OSC to act as the Company’s sub-operator within the concession area; in the exclusive sole marketing agent agreement the Company appoints OSC to act as exclusive sole marketing agent to promote and negotiate the sale of sea sands and to seek funding for the Company’s sea sand projects. The Company has recorded the amount received to date as deferred revenue as it is yet to transfer control of dredged sea sand production but expects to do so in the near term.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2023
Subsequent Events
Subsequent Events	Note 15 – Subsequent Events In November of 2024 the Company’s ticker symbol “NINK” was suspended for trading in the OTC Markets by FINRA due to inactivity. The Company is currently working with is securities counsel to engage a market maker and reinstate trading of its shares.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2023
Organization and Summary of Significant Accounting Policies
Fiscal Year	The Company’s fiscal year end is June 30.
Basis of Presentation	The financial statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles (“GAAP”) of the United States.
Principles of Consolidation	The accompanying consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary SBS Mining Corp. Malaysia Sdn. Bhd. All significant intercompany accounts and transactions have been eliminated.
Reclassifications	Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications had no effect on reported net (loss).
Use of Estimates and Assumptions	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company has significant estimates in regards to the inputs used for valuation of the derivative associated with the contingent interest of its Project Investment Financing debt. Actual results when ultimately realized could differ from these estimates.
Revenue Recognition	The Company recognizes revenue from the sale of mined sand from the Sea Sand Mining Project (see Note 10) in accordance with ASC 606 “ Revenue Recognition Step 1: Identify the contract(s) with customers Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to performance obligations Step 5: Recognize revenue when the entity satisfies a performance obligation The Company’s sales are derived from the sale of mined sand to our customers. The Company recognizes revenue at a point in time when it satisfies its obligation by transferring control of the mined sand to the customer. The cost of sales includes dredging cost, rental of land, docket fees and site expenses. During the years ended June 30, 2023 and 2022, the Company did not record any revenue and recorded cost of sales and gross loss of $0 and $47, respectively.
Cash and Cash Equivalents	The company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2023 and 2022, cash includes cash on hand and cash in the bank. The Company operates in Malaysia where deposit insurance for deposits is provided up to RM 250,000 (approximately US $60,000). From time to time the Company’s account balances may exceed that limit.
Inventories	Inventories are stated at lower of cost or net realizable value, with cost being determined on the weighted average method. No reserves are considered necessary for slow moving or obsolete inventory as no inventory was on hand at year-end. The Company continuously evaluates the adequacy of these reserves and makes adjustments to these reserves as required. During the years ended June 30, 2023 and 2022, the Company did not produce any mined sand. Additionally, the Company did not hold any inventories as of June 30, 2023 and 2022.
Fair Value of Financial Instruments	The Company’s financial instruments consist primarily of cash and equivalents, other receivables and deposits, due from related party, accounts payable, other payables and accruals, due to related party, due to unrelated party, project advances and royalty obligation. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments. The Company adopted ASC Topic 820, Fair Value Measurements (“ASC Topic 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The standard provides a consistent definition of fair value which focuses on an exit price that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standard also prioritizes, within the measurement of fair value, the use of market-based information over entity specific information and establishes a three-level hierarchy for fair value measurements based on the nature of inputs used in the valuation of an asset or liability as of the measurement date. The three-level hierarchy for fair value measurements is defined as follows: Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; liabilities in active markets; Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability other than quoted prices, either directly or indirectly, including inputs in markets that are not considered to be active; or directly or indirectly including inputs in markets that are not considered to be active; Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement
Foreign Currencies	Functional and Presentation Currency - Transactions and Balances
Plant and Equipment Depreciation	Plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated on a straight-line basis to write off the cost of plant and equipment over their expected useful lives at the following annual rates: Motor Vehicles 20 % Office equipment 33 % Tools and equipment 33 % Computer and software 33 % Leasehold improvements Term of lease Furniture and Fixtures 33 %
Mineral Properties	The Company is engaged in the business of the acquiring, exploring, developing, mining, and producing mineral properties and or resources, with a current emphasis on sea sand mining (see Note 9) and previous emphasis on iron ore, bauxite and tin. Mineral claims and other property acquisition costs are capitalized as incurred. Such costs are carried as an asset of the Company and JHW until it becomes apparent through exploration activities that the cost of such properties will not be realized through mining operations. Mineral exploration costs are expensed as incurred, and when it becomes apparent that a mineral property can be economically developed as a result of establishing proven or probable reserve, the exploration costs, along with mine development costs, are capitalized. The costs of acquiring mineral claims, capitalized exploration costs, and mine development costs are recognized for depletion and amortization purposes under the units-of-production method over the estimated life of the probable and proven reserves. If mineral properties, exploration, or mine development activities are subsequently abandoned or impaired, any capitalized costs are charged to operations in the current period.
Exploration Expenditures	Exploration, acquisition (except for property purchase costs), and general and administrative costs related to exploration projects and prospecting activities are charged to expense as incurred. During the years ended June 30, 2023 and 2022, the Company recorded exploration expenditures of $36,121 and $287,244, respectively. Such expenditures have been incurred in order to provide the information necessary to the Malaysian Department of the Environment to work towards the renewal of its dredging license for three additional years, to expand the potential cubic meters available to dredge within its current license area from the current 19.1 km to 40 km and acquire additional licenses. The Company’s policy is to expense these costs as incurred. As part of the agreement with One Standard Continent SDH, Bhd. (“OSC”) (see Note 9), OSC agreed to reimburse the Company for expenditures associated with certain costs directly attributable to the Company acquiring and maintaining dredging rights in the ocean waters off the coast of Malaysia. For the year ended June 30, 2023, OSC has provided project advances of approximately $264,000 (RM 1,233,300) (Note 10). For the year ended June 30, 2022, OCS reimbursed the Company approximately $290,000 (RM 1,263,000) related to those costs. The Company has accounted for those reimbursements as a direct reduction of its exploration costs.
Impairment of Long-Lived Assets	Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company did not record any impairment of long-lived assets during the years ended June 30, 2023 and 2022.
Leases	FASB ASC 842 “Leases” requires lessees to record lease assets and liabilities for operating leases and disclose key information about leasing arrangements. Upon entering into an arrangement, the Company evaluates whether the arrangement provides the Company with the ability to control the use of the asset over the term of the lease. If an arrangement contains a lease, upon commencement of the arrangement, the Company recognizes an operating lease right-of-use asset and a corresponding operating lease liability. The amount of the operating lease right-of-use asset is measured utilizing the present value of the future minimum lease payments over the lease term. The Company has not recognized any right-of-use assets or lease liabilities as of June 30, 2023 and 2022.
Segment Reporting	FASB ASC 820 “Segments Reporting” establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organization structure as well as information about geographical areas, business segments and major customers in financial statements. Our proposed future business segments are expected to span more than one geographical area. Specifically, the Company intends to generate revenue through mineral trading and exploration activities. See Note 12.
Income Taxes	On July 1, 2021, the Company adopted Accounting Standard Update No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (ASU 2019-12), which simplifies the accounting for income taxes. This standard has been adopted on a prospective basis and the adoption of this standard does not have a material impact on the Company’s financial statements. The asset and liability method is used in the Company’s accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. Deferred tax assets and liabilities are determined based on the temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities using the enacted tax rates in effect in the years in which the differences are expected to reverse. In estimating future tax consequences, all expected future events are considered other than enactment of changes in the tax law or rates. The Company adopted ASC 740 “Income Taxes,” The determination of recording or releasing tax valuation allowance is made, in part, pursuant to an assessment performed by management regarding the likelihood that the Company will generate future taxable income against which benefits of its deferred tax assets may or may not be realized.
Loss Per Share	The Company follows the provisions of ASC Topic 260, Earnings per Share Basic earnings per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock or conversion of notes into shares of the company’s common stock that could increase the number of shares outstanding and lower the earnings per share of the company’s common stock. This calculation is not done for periods in a loss position as this would be antidilutive. As of June 30, 2023 and 2022, there were 0 and approximately 42,336 potentially diluted common shares outstanding from 280,000 shares of preferred stock, respectively.
Stock-based compensation	Effective July 1, 2020, the Company adopted the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Update (“ASU”) ASU 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. This update addresses several aspects of the accounting for nonemployee share-based payment transactions and expands the scope of ASC 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The main provisions of the update change the way nonemployee awards are measured in the financial statements. Under the simplified standards, nonemployee options will be valued once at the date of grant, as compared to at each reporting period end under ASC 505-50. Companies are permitted to make elections to establish the expected term and either recognize forfeitures as they occur or apply a forfeiture rate.
Recently issued accounting pronouncements	There are several new accounting pronouncements issued by the Financial Accounting Standards Board (“FASB”) which are not yet effective. Each of these pronouncements, as applicable, has been or will be adopted by the Company. As of June 30, 2023, none of these pronouncements are expected to have a material effect on the financial position, results of operations or cash flows of the Company.

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2023
Organization and Summary of Significant Accounting Policies
Schedule Depreciation of plant and equipment	Motor Vehicles 20 % Office equipment 33 % Tools and equipment 33 % Computer and software 33 % Leasehold improvements Term of lease Furniture and Fixtures 33 %

Plant and Equipment (Tables)

Plant and Equipment (Tables)	12 Months Ended
	Jun. 30, 2023
Plant and Equipment
Schedule of plant and equipment	June 30, June 30, 2023 2022 Cost Motor Vehicles $ 9,638 $ 14,742 Office equipment 8,983 24,143 Computers and software 11,655 12,816 Tools and equipment 454 481 Furniture and Fixture 33,205 35,161 63,935 87,343 Accumulated Depreciation (52,534 ) (70,870 ) Plant and Equipment, Net $ 11,401 $ 16,473

Other receivable and deposits (

Other receivable and deposits (Tables)	12 Months Ended
	Jun. 30, 2023
Other receivable and deposits
Schedule of other receivable and deposits	June 30, June 30, 2023 2022 Sundry receivables $ 16,192 $ 23,367 Other receivable 5,676 6,011 Deposits, including utility, security deposits 835 885 $ 22,703 $ 30,263

Related party advances and ex_2

Related party advances and expenses (Tables)	12 Months Ended
	Jun. 30, 2023
Related party advances and expenses
Schedule of advances from related parties	June 30, June 30, 2023 2022 Advances from its Directors $ 1,179,482 $ 1,093,752 Advances from related party 1,742,978 1,799,611 Advances from holding company 639,057 677,341 Total $ 3,561,517 $ 3,570,704

Sea Sand Dredging Project Fin_2

Sea Sand Dredging Project Financing (Tables)	12 Months Ended
	Jun. 30, 2023
Sea Sand Dredging Project Financing
Fair value of contingent interest liability	Fair value at June 30, 2021 $ 208,969 Additions - Change in fair value due to change in estimate (201,291 ) Change in foreign exchange - Redemption (7,678 ) Fair value at June 30, 2022 $ - Additions - Fair value at June 30, 2023 $ -

Geographic Segment Reporting (T

Geographic Segment Reporting (Tables)	12 Months Ended
	Jun. 30, 2023
Geographic Segment Reporting
Schedule of Operating activities information	Year Ended June 30, 2023 USA Malaysia Total Revenue $ - $ - $ - Cost of Goods Sold - - - Depreciation of property, plant and equipment - (4,371 ) (4,371 ) General and administrative expenses (48,985 ) (144,109 ) (193,094 ) Professional fees (73,023 ) (7,412 ) (80,435 ) Exploration expenditures - (36,121 ) (36,121 ) Other expenses (60,512 ) (604,508 ) (665,020 ) Net loss $ (182,520 ) $ (796,521 ) $ (979,041 ) Year Ended June 30, 2022 USA Malaysia Total Revenue $ - $ - $ - Cost of Goods Sold - (47 ) (47 ) Depreciation of property, plant and equipment - (5,318 ) (5,318 ) General and administrative expenses (100,541 ) (113,629 ) (214,170 ) Professional fees (213,496 ) (2,506 ) (216,002 ) Exploration expenditures - (287,244 ) (287,244 ) Other expenses (84,200 ) (1,509,082 ) (1,593,282 ) Net loss $ (398,237 ) $ (1,917,826 ) $ (2,316,063 )
Schedule of Assets information	As of June 30, 2023 USA Malaysia Total Current assets $ - $ 28,093 $ 28,093 Property and equipment, net - 11,401 11,401 Total assets $ - $ 39,494 $ 39,494 As of June 30, 2022 USA Malaysia Total Current assets $ - $ 37,750 $ 37,750 Property and equipment, net - 16,473 16,473 Total assets $ - $ 54,223 $ 54,223

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2023
Income Taxes
Schedule of net deferred tax assets	2023 2022 Deferred tax assets: Impairment of related party receivables $ - $ 94,000 Net operating loss carryforwards 1,789,400 1,580,600 Total long-term deferred tax asset 1,789,400 1,674,600 Deferred tax liabilities: Related party liabilities (28,900 ) (28,900 ) Total deferred tax liabilities (28,900 ) (28,900 ) Valuation Allowance (1,760,500 ) (1,645,700 ) Total Net Deferred Tax Assets $ - $ -
Schedule of statutory federal income tax benefit	2023 2022 Expected income tax benefit $ (205,600 ) $ (486,000 ) Permanent timing difference (3,200 ) (8,100 ) Other - - Difference in tax rates between US and Malaysia (29,400 ) (70,000 ) Valuation allowance 238,200 564,100 Reported income tax expense (benefit) $ - $ -

Organization and Summary of S_4

Organization and Summary of Significant Accounting Policies (Details)	12 Months Ended
	Jun. 30, 2023
Office Equipment [Member]
Plant and equipment, rate of depreciation	33%
Tools and Equipment [Member]
Plant and equipment, rate of depreciation	33%
Computer and Software [Member]
Plant and equipment, rate of depreciation	33%
Furniture and Fixtures [Member]
Plant and equipment, rate of depreciation	33%
Motor Vehicles [Member]
Plant and equipment, rate of depreciation	20%
Leasehold Improvements [Member]
Plant and equipment, description for rate of depreciation	Term of lease

Organization and Summary of S_5

Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($)		1 Months Ended	12 Months Ended
	Jul. 12, 2018	Jul. 19, 2018	Jun. 30, 2023	Jun. 30, 2022
Gross loss			$ 0	$ (47)
Cash insured amount			$ 60,000	$ 60,000
Preferred stock outstanding			0	280,000
Potentially diluted common shares outstanding			0	42,336
Exploration expenditures			$ 36,121	$ 287,244
Reimbursements exploration costs			$ 264,000	$ 290,000
GMCI [Member]
Common stock issuance	720,802,346
Outstanding shares acquired	100%
Pre-merger issued and outstanding shares	102.08%
Description for dividend declared by GMCI		the Company was notified that the Board of GMCI deemed it to be in the best interests of GMCI and its stockholders for GMCI to approve and declare a dividend of restrictive shares of Nami to the stockholders of GMCI, on a pro rata basis, determined in accordance with the number of shares of capital stock of GMCI held by such stockholders, thereby transferring ownership of 100% of the outstanding restricted shares of Nami owned directly by GMCI to the stockholders of GMCI (collectively, the “Nami Stock Dividend”)

Going Concern (Details Narrativ

Going Concern (Details Narrative)	12 Months Ended
	Jun. 30, 2023 USD ($)
Going Concern
Working capital deficit	$ 7,100,000
Cash in hand	5,400
Net loss	$ 1,000,000

Plant and Equipment (Details)

Plant and Equipment (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Plant and Equipment, Gross	$ 63,935	$ 87,343
Accumulated Depreciation	(52,534)	(70,870)
Plant and Equipment, Net	11,401	16,473
Office Equipment [Member]
Plant and Equipment, Gross	8,983	24,143
Tools and Equipment [Member]
Plant and Equipment, Gross	454	481
Computer and Software [Member]
Plant and Equipment, Gross	11,655	12,816
Furniture and Fixtures [Member]
Plant and Equipment, Gross	33,205	35,161
Motor Vehicles [Member]
Plant and Equipment, Gross	$ 9,638	$ 14,742

Plant and Equipment (Details Na

Plant and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Depreciation	$ 4,371	$ 5,318
Plant And Equipment [Member]
Depreciation	$ 4,371	$ 5,318

Other receivable and deposits_2

Other receivable and deposits (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Other receivable and deposits
Sundry receivables	$ 16,192	$ 23,367
Other receivable	5,676	6,011
Deposits, including utility, security deposits	835	885
Other receivable and deposits	$ 22,703	$ 30,263

Related party advances and ex_3

Related party advances and expenses (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Total	$ 3,561,517	$ 3,570,704
Advances from related party [Member]
Total	1,742,978	1,799,611
Advances from holding company [Member]
Total	639,057	677,341
Advances from all company [Member]
Total	3,561,517	3,570,704
Advances from Its Directors [Member]
Total	$ 1,179,482	$ 1,093,752

Related party advances and ex_4

Related party advances and expenses (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Imputed interest rate	6.50%	6.50%
Imputed interest	$ 215,136	$ 239,932
Advances received from related parties	79,382	155,608
Director [Member]
Advances received from related parties	79,382	155,608
Repayments of related party expenses	156
Repayments of related party advances	$ 14,659	$ 26,664

Due to unrelated parties (Detai

Due to unrelated parties (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Due to unrelated parties
Advances received from unrelated parties	$ 3,811	$ 640,194
Repayment of advances received from unrealted party	45,870	47,993
Liability due to unrelated party	1,062,142	1,139,770
Oprating expenses	$ 0	$ 5,262

Share Capital (Details Narrativ

Share Capital (Details Narrative) - USD ($)		1 Months Ended		12 Months Ended
	Jul. 04, 2018	Aug. 31, 2018	Jul. 19, 2018	Jun. 30, 2023	Jun. 30, 2022
Common stock, shares authorized				5,000,000,000	5,000,000,000
Ownership percentage	50.51%
Common stock, par value				$ 0.001	$ 0.001
Common stock, shares issued	720,802,346			1,426,927,346	1,426,927,346
Common stock, shares outstanding				1,426,927,346	1,426,927,346
Ownership interest transferred			100%
Preferred stock, shares outstanding				0	280,000
First subscription [Member]
Subscription received		$ 59,530
Redeemable cumulative preference shares, interest rate		12%
Second subscription [Member]
Subscription received		$ 8,878
Redeemable cumulative preference shares, interest rate		12%
SBS [Member]
Preferred stock, shares outstanding				280,000
Redeemable Preferred Stock Dividends				$ 63,560
Issue of common share				46,667
Preferred dividend distributed to holder				$ 0	$ 3,861
Preferred shares description		SBS authorized the issuance of up to 50 million shares at the issue price of RM 1.0 per share. The new preferred equity carries a cumulative 12% preferred dividend, payable on a quarterly basis, based on the issue price of the preferred security. The preferred dividend will have priority to any payment of dividends on the common equity. The preferred shares automatically convert to NAMI Corp common shares two years after issuance if not converted earlier at the rate of USD $1.50 on then value translated into USD of each 12% redeemable cumulative preference share. In the event of the liquidation or winding up of SBS, the preferred shares are entitled to distributions prior to any amounts distributed to the common equity holders. The holders of the preferred shares, so long as the cumulative preferred dividend is timely paid each quarter, have no general voting rights, but have rights to vote on any matters that effect the provisions of the preference shares
Number of preferred shares held		1 for 1 basis
Debt converted into common shares					42,336
Dividends in arrears				$ 0	$ 19,051
Ownership percentage	100%

Sea Sand Mining Project (Detail

Sea Sand Mining Project (Details Narrative) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2020
Second sea sand mining and dredging licence, description	the Company, which is in a joint venture with JHW Holdings Sdn Bhd, a private limited company incorporated in Malaysia (“JHW”), received a second sea sand mining and dredging license from the Ministry of Energy and Natural Resources (Kementerian Tenaga dan Sumber Asli) (“KeTSA”). The license No. is 0146 and is a sea mining concession area of 21.10 square kilometers and includes an approved dredged sand volume of 31,650,000 cubic meters (m3). The mining and dredging license was granted for a term of three years from October 20, 2023, to October 19, 2026
Rcoverable amount of prepayment	$ 0
Expense of cost of goods sold			$ 59,478
Description for irrevocable right use of asset	The Company submitted the required environmental and engineering assessments as part of the permitting process for approximately 383 square kilometres, and in January 2019, JHW was issued by the government of Malaysia the first set of permits necessary to commence sea sand mining operations. The final approved area was 20.48km² within the jurisdiction of the state of Terengganu, Malaysia (the “Area”). The Company is required to prepay RM 500,000 of future royalty amounts due under the agreement with JHW, of which SBS funded RM 250,000 (approximately $60,000) as of June 30, 2021
SBS [Member]
Incurring Cost	$ 36,121	$ 287,244

Sea Sand Dredging Project Fin_3

Sea Sand Dredging Project Financing (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Sea Sand Dredging Project Financing
Fair value, beginning balance	$ 0	$ 208,969
Additions	0	0
Change in fair value due to change in estimate		(201,291)
Change in foreign exchange		0
Redemption		(7,678)
Fair value, ending balance	$ 0	$ 0

Sea Sand Dredging Project Fin_4

Sea Sand Dredging Project Financing (Details Narrativee) - USD ($)		1 Months Ended			12 Months Ended
	Aug. 03, 2021	May 31, 2021	Apr. 30, 2021	Dec. 31, 2020	Jun. 30, 2023	Jun. 30, 2022	Aug. 31, 2021
Advance payment				$ 49,236
Description of inception					the inception dates in May 2021 and August 2021 of approximately 43% and 41%
Additional amount received				$ 410,500	$ 428,000
Received advances from two investors			$ 48,476		$ 264,000
Proceeds from related party debt from investor	$ 48,476	$ 484,760
Debt interest rate percentage per annum	2%	2%
Guaranteed monthly payment per share	$ 0.02	$ 0.48
Guaranteed monthly payment to investors	$ 4,800	$ 95,900
Advances from non-interest bearing due on demand						$ 410,000
Project investment financing debt		1,198,600
Project Investment Financing Debt [Member]
Derivative liability		$ 345,369					$ 35,317
Current liabilities	$ 60,241

Short-term loans (Details Narra

Short-term loans (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 25, 2021	Jun. 30, 2022	Jun. 30, 2023	Apr. 01, 2022	Sep. 30, 2021
Principal and interest balances recorded interest expense		$ 6,808
Short term loan	$ 42,900
Principal and interest					$ 858
Additional short-term loan				$ 7,100
Unpaid accrued interest			$ 6,808
Remaining principal balance of loan			$ 6,804
Interest rate	2%
August 25 2021 [Member]
Principal and interest balances recorded interest expense		$ 2,385
Short term loan	$ 47,700
Principal and interest					$ 2,385

Geographic Segment Reporting (D

Geographic Segment Reporting (Details) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue	$ 0	$ 0
Cost of Goods Sold	0	(47)
Depreciation of property, plant and equipment	(4,371)	(5,318)
General and administrative expenses	(193,094)	(214,170)
Professional fees	(80,435)	(216,002)
Exploration Expenditure	(36,121)	(287,244)
Other income (expenses)	(665,020)	(1,593,282)
Net Loss	(979,041)	(2,316,063)
USA [Member]
Revenue	0	0
Cost of Goods Sold	0	0
Depreciation of property, plant and equipment	0	0
General and administrative expenses	(48,985)	(100,541)
Professional fees	(73,023)	(213,496)
Exploration Expenditure	0	0
Other income (expenses)	(60,512)	(84,200)
Net Loss	(182,520)	(398,237)
Malaysia [Member]
Revenue	0	0
Cost of Goods Sold	0	(47)
Depreciation of property, plant and equipment	(4,371)	(5,318)
General and administrative expenses	(144,109)	(113,629)
Professional fees	(7,412)	(2,506)
Exploration Expenditure	(36,121)	(287,244)
Other income (expenses)	(604,508)	(1,509,082)
Net Loss	$ (796,521)	$ (1,917,826)

Geographic Segment Reporting _2

Geographic Segment Reporting (Details 1) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Current Assets	$ 28,093	$ 37,750
Property and equipment, net	11,401	16,473
Total assets	39,494	54,223
USA [Member]
Current Assets	0	0
Property and equipment, net	0	0
Total assets	0	0
Malaysia [Member]
Current Assets	28,093	37,750
Property and equipment, net	11,401	16,473
Total assets	$ 39,494	$ 54,223

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022
Deferred tax assets:
Impairment of related party receivables	$ 0	$ 94,000
Net operating loss carryforwards	1,789,400	1,580,600
Total long-term deferred tax asset	1,789,400	1,674,600
Deferred tax liabilities:
Related party liabilities	(28,900)	(28,900)
Total deferred tax liabilities	(28,900)	(28,900)
Valuation Allowance	(1,760,500)	(1,645,700)
Total Net Deferred Tax Assets	$ 0	$ 0

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Taxes
Expected income tax benefit	$ (205,600)	$ (486,000)
Permanent timing differences	(3,200)	(8,100)
Other	0	0
Difference in tax rates between US and Malaysia	(29,400)	(70,000)
Valuation allowance	238,200	564,100
Reported income tax expense (benefit)	$ 0	$ 0

Income Taxes (Details Narrative

Income Taxes (Details Narrative) $ in Millions	12 Months Ended
	Jun. 30, 2023 USD ($)
Net operating loss carry-forward, expiration year	2034
Malaysia [Member]
Net operating loss carry-forward	$ 4.1
Statutory federal income tax rate	24%
US [Member]
Net operating loss carry-forward	$ 5.1
Statutory federal income tax rate	21%

Deferred Revenue (Details Narra

Deferred Revenue (Details Narrative)	Jun. 30, 2022 USD ($)
Deferred Revenue
Deferred revenue and customer advances	$ 124,739