Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 41

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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     6,385 
  
    Charge to allowance 
     1,353,239  
     102,514 
  
    Less: disposal of VIEs 
     -  
     (10,325,224)
  
    Foreign currency translation adjustments 
     (22,965) 
     160,360 
  
    Ending balance 
    $1,441,757  
    $111,483 

NOTE 7 – OTHER CURRENT ASSETS,
NET

Other current assets, net consisted of
the following:

SCHEDULE
OF OTHER CURRENT ASSETS 

    December 31, 2024  
    June 30, 2024 

    Loans to third parties (1) 
    $9,986,234  
    $9,445,164 
  
    Other receivables (2) 
     3,644,993  
     2,464,188 
  
    Prepayment for business acquisition (3) 
     2,630,000  
     - 
  
    Short-term deposits 
     43,906  
     39,966 
  
    Prepaid expenses 
     1,765  
     1,658 
  
    Subtotal 
     16,306,898  
     11,950,976 
  
    Less: allowance for credit losses 
     (4,319,884) 
     (4,656,522)
  
    Total other current assets, net 
    $11,987,014  
    $7,294,454 

    1)
    Loans to third-parties are mainly used for
    short-term funding to support the Company’s external business partners or employees of the Company. These loans bear interest
    or no interest and have terms of no more than one year. As of December 31, 2024, loans that amounted to US$688,642 were
    carried forward from fiscal year 2023. On September 20, 2023, the Company lent a loan amounting to US$102,761 to
    a third party for one year, with a maturity date of September
    19, 2024. The loan was extended for one year upon maturity. On
    December 31, 2023, the Company lent a loan amounting to US$1,420,573 to
    two third parties for