Company: STAK
Filing Date: 2025-02-26
Form Type: 424B4
Source: 0001493152-25-008310
Chunk: 178

Company: STAK Inc.
Filing Date: 2025-02-26
Form: 424B4
Chunk 178
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-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Group is currently evaluating the impact of adopting ASU 2023-09.

Other accounting standards that have been issued by FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

NOTE 3 - ACCOUNTS RECEIVABLE, NET

Accounts receivable, net was summarized as follows:

|                                   |     | As of June 30, |      2024 |   |     |   |      2023 |   |
|:----------------------------------|:----|:---------------|----------:|:--|:----|:--|----------:|:--|
| Accounts receivable               |     | $              | 3,578,741 |   |     | $ | 4,114,299 |   |
| Less: provision for credit losses |     |                |   (93,218 | ) |     |   |   (97,526 | ) |
| Accounts receivable, net          |     | $              | 3,485,523 |   |     | $ | 4,016,773 |   |

The changes in the provision for credit losses were as follows:

|                                   |     | For the Years Ended June 30, |   2024 |   |     |   |   2023 |   |
|:----------------------------------|:----|:-----------------------------|-------:|:--|:----|:--|-------:|:--|
| Balance at  beginning of the year |     | $                            | 97,526 |   |     | $ |  4,974 |   |
| (Reversal)/Additions              |     |                              | (4,118 | ) |     |   | 96,910 |   |
| Foreign exchange effect           |     |                              |   (190 | ) |     |   | (4,358 | ) |
| Balance at  end of the year       |     | $                            | 93,218 |   |     | $ | 97,526 |   |

For the year ended June 30, 2024, the Company reversed bad debt expense of $4,118