0001213900-24-092865 | 20-F | XBRL Viewer

Related Parties Transactions

12 Months Ended

Jun. 30, 2024

Related Parties Transactions

The table below sets forth the major related parties and their relationships with the Group as of June 30, 2024 and 2023:

No.	Related Parties	Relationship
1	Ufintek Group Pte. Ltd.	Wang Yizhou, Financial Director of Helport Singapore, serves as the Executive Director of Ufintek Group Pte. Ltd.
2	Stony Holdings Limited	Shareholder of Helport Limited
3	Ms. Fan Yu	Chairman of the Board of Directors of Helport Limited
4	Ms. Yizhou Wang	Financial Director of Helport Singapore

(a) The Group entered into the following transactions with related parties:

	For the years ended June 30,
	2024		2023		2022
Nature
Loan from related parties
Stony Holdings Limited	$	84,991	$	-	$	-
Ufintek Group Pte. Ltd.	$	-	$	561,703	$	18,229
Yu Fan	$	269,986	$	7,356	$	178,159

Advance payment from a related party
Wang Yizhou	$	-	$	1,524	$	-

Reimbursement for advance payment from a related party
Wang Yizhou	$	1,524	$	-	$	-

Service fees paid to a related party
Wang Yizhou	$	-	$	751	$	-

Loan repayment to related parties
Ufintek Group Pte. Ltd.	$	3,638	$	-	$	-
Yu Fan	$	-	$	45,102	$	114,465

(b) The Group had the following balances with related parties:

	As of June 30,
	2024		2023
Amount due to related parties:
Ufintek Group Pte. Ltd. ⁽¹⁾	$	604,084	$	584,558
Yu Fan ⁽¹⁾		276,701		6,715
Stony Holdings Limited ⁽²⁾		84,991		-
Wang Yizhou ⁽¹⁾		-		1,524
Total	$	965,776	$	592,797

(1)

The balance represents the advance funds received from related parties for daily operational purposes.

(2)

On March 15, 2024, the Group entered into Line of Credit Agreements with two existing shareholders, Hades Capital Limited and Stony Holdings Limited (collectively “Helport Shareholders”), which provides us with unsecured lines of credit in the principal maximum amount of $4,000,000 and $2,000,000, respectively. The principal indebtedness under the Line of Credit Agreements will mature on the third anniversary of the date the Line of Credit Agreements were entered into, at an interest rate of 0% per annum. As of June 30, 2024, an aggregate of $84,991 were drawn from such lines of credit.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Accounting Policies, by Policy (Policies)

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Basis of presentation

(a)

Basis of presentation

The combined financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Significant accounting policies followed by the Group in the preparation of the accompanying combined financial statements are summarized below.

Principle of consolidation

(b)

Principle of combination

The combined financial statements presented herein represent prior to the Business Combination which was consummated on August 2, 2024, the financial statements of Helport AI Limited and its subsidiaries. All intercompany transactions and balances among the Company and its subsidiary have been eliminated upon combination.

Use of estimates

(c)

Use of estimates

The preparation of the combined financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities at the balance sheet date, and the reported revenues and expenses during the reported periods in the combined financial statements and accompanying notes. Significant accounting estimates include, but not limited to allowance for doubtful accounts and useful lives and impairment of long-lived assets. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the combined financial statements.

Foreign currency translation

(d)

Foreign currency translation

The reporting currency of the Group is the U.S. dollar (“USD” or “$"). The functional currency of the Company and its subsidiary located in Singapore is the U.S. dollar.

Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred.

Deferred offering costs

(e)

Deferred offering costs

The Group complies with the requirement of the ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“SAB”) Topic 5A — “Expenses of Offering.” Deferred offering costs consist of legal, advisory, underwriting fees and other costs incurred through the balance sheet date that are directly related to the Business Combination transaction with Tristar for overseas listing. Deferred offering costs would be charged to shareholders’ equity upon the completion of the Business Combination. Should the Business Combination prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to operations. As of June 30, 2024, and 2023, the Group capitalized $817,871 and nil of deferred offering costs, respectively.

Cash

(f)

Cash

Cash consists of cash in bank only. As of June 30, 2024 and 2023, cash balances were $2,581,086 and $142,401, respectively.

Credit losses

(g)

Credit losses

On July 1, 2023, the Group adopted Accounting Standards Update (“ASU”) 2016-13 “Financial Instruments – Credit Losses” (Topic 326). Measurement of Credit Losses on Financial Instruments,” by using an aging schedule method in combination with current situation adjustment, which replaces the previous incurred loss impairment model. The expected credit loss impairment model requires the entity to recognize its estimate of expected credit losses for affected financial assets using an allowance for credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The adoption of ASU 2016-13 did not have a material impact on the Group’s financial statements.

The Group’s accounts receivable and other receivables included prepaid expenses and other current assets line item in the balance sheet are within the scope of ASC Topic 326. The Group uses an aging schedule method in combination with current situation adjustment, to determine the loss rate of receivable balances and evaluate the expected credit losses on an individual basis. When establishing the loss rate, the Group makes the assessment based on various factors, including aging of receivable balances, historical experience, credit-worthiness of debtor, current economic conditions, reasonable and supportable forecasts of future economic, and other factors that may affect the Group’s ability to collect form the debtors. The Group also applies current situation adjustment to provide specific provisions for allowance when facts and circumstances indicate that the receivable is unlikely to be collected.

Expected credit losses are indicated in general and administrative expenses in the combined statements of operations and comprehensive loss. After all attempts to collect a receivable have failed, the receivable is written off against the allowance.

Accounts receivable, net

(h)

Accounts receivable, net

Accounts receivable, net are stated at the original amount less an allowance for doubtful receivable. The Group reviews the accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. The Group considers factors in assessing the collectability of its receivables, such as historical bad debts, changes in customers’ payment patterns, credit-worthiness and financial conditions of the customers, current economic trends and other specific circumstances related to the accounts. An allowance for doubtful accounts is recorded in the period in which a loss is determined to be probable. Accounts receivable balances are written off after all collection efforts have been exhausted. No allowance for credit losses were recorded for the years ended June 30, 2024, 2023 and 2022.

Intangible assets, net

(i)

Intangible assets, net

Intangible assets with finite useful lives are carried at cost less accumulated amortization and any recorded impairment. Estimated useful lives by intangible asset classes are as follows:

Category		Estimated useful lives
Software		3 years

The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives may have changed.

Impairment of long-lived assets

(j)

Impairment of long-lived assets

The Group reviews for the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Group measures the carrying amount of the asset against the estimated undiscounted future cash flows associated with it. Should the sum of the expected future net cash flows be less than the carrying value of the asset being evaluated, an impairment loss would be recognized for the amount by which the carrying value of the asset exceeds its fair value. The evaluation of asset impairment requires the Group to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment and actual results may differ from assumed and estimated amounts. The Group did not record any impairment charge for the years ended June 30, 2024, 2023 and 2022.

Fair value measurement

(k)

Fair value measurement

The Group applies a three-level valuation hierarchy for fair value measurements. This hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability. Level 3 inputs are unobservable inputs based on management’s assumptions used to measure assets and liabilities at fair value. Financial assets and liabilities of the Group primarily consist of cash, accounts receivable, accounts payable, amounts due to related parties, and accrued expenses and other current liabilities. For the aforementioned financial instruments included in current assets and liabilities, their carrying amount approximate to their respective fair values because of the general short maturities.

Accounts and other payables

(l)

Accounts and other payables

Accounts and other payables represent liabilities for goods and services provided to the Group prior to the end of the financial year which are unpaid. They are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). Otherwise, they are presented as non-current liabilities. Accounts and other payables are initially recognized as fair value, and subsequently carried at amortized cost using the effective interest method.

Related party

(m)

Related party

A related party may be any of the following: a) an affiliate, which is a party that directly or indirectly controls, is controlled by, or is under common control with another party; b) a principle owner, owner of record or known beneficial owner of more than 10% of the voting interest of an entity; c) management, which are persons having responsibility for achieving objectives of the entity and requisite authority to make decision; d) immediate family of management or principal owners; e) a parent company and its subsidiaries; and f) other parties that have ability to significant influence the management or operating policies of the entity. The Group discloses all related party balance and transactions.

Revenue recognition

(n)

Revenue recognition

On July 1, 2020, the Group adopted Accounting Standards Codification (“ASC”) 606 using the modified retrospective approach.

The Group recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. The core principle of the new revenue standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. The following five steps are applied to achieve that core principle:

Step 1: Identify the contract with the customer

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to the performance obligations in the contract

Step 5: Recognize revenue when the company satisfies a performance obligation

These criteria as they relate to each of the following major revenue generating activities are described below.

Revenues are presented net of value added taxes (“VAT”).

	For the years ended June 30,
	2024		2023		2022
AI services	$	29,575,625	$	12,689,750	$	2,566,418
Others		-		38,563		101,496
Total revenues	$	29,575,625	$	12,728,313	$	2,667,914

AI services

The Group signs System Information Technology Service Agreement with the customers, to provide a series of services including system functional modules, efficiency management services, custom development services and operation outsourcing services in the form of integrated AI service tools —— AI Assist. The Group identifies one performance obligation in the licensed usage of AI Assist because a series of services are delivered through the ultimate integrated functions within AI Assist, and cannot be distinct from each other. The service consideration is reconciled on a monthly basis, which is calculated based on the monthly average subscribed seats. The Group usually grant the customers a credit term between 180 days and 365 days in the payment arrangement. Since the customers simultaneously receive and consume the benefits through the usage of AI Assist as the Group maintains technical support and ensure the normal function of AI Assist, revenues are recognized ratably over the contract term.

Certain contracts with promises of additional customization or request may include multiple performance obligations when the promises are separately identifiable with one another and are indicated with standalone selling price. For such arrangements, the Group allocates transaction price to each performance obligation based on its relative standalone selling price. The Group generally determines the standalone selling prices based on the prices charged to customers. Revenues from such additional customization or request are recognized at a point in time when the service deliverables are completed and achieve the requirements of the customers.

Others

The Group also provide medical consulting services to customers. The Group identifies one performance obligation in each request order and recognizes revenues as the service fee stated in the revenue statement over the service period.

(n)

Revenue recognition (continued)

Principal versus agent considerations

The Group signs contract with a third-party service provider for outsourced operation, in which the third-party service provider is obliged to conduct certain technical supporting activities including IT environment maintenance, software module optimization, industrial database update, servers setting and etc. The Group has evaluated the terms with the third-party service provider and considers itself a principal and recognizes revenue on a gross basis in AI services as it controls the services through the following key considerations:

	●	The Group owns its brand and intellectual property, directs the third-party service provider to conduct a series of outsourced operation activities on its behalf, and reserves the right to accept or reject any customer contracts without involvement of the third-party service provider. The Group assumes primary responsibility for controlling the quality of AI service deliverables.

	●	The Group has discretion in setting up the price. The third-party service provider is only entitled to the fixed outsourced operation fees settled monthly for their performance obligation and do not participate in profit share for the revenues from AI services.

Contract balance

When the obligation in service contract has been performed, the Group presents the contract in the combined balance sheet as a contract asset or a contract liability, depending on the relationship between the Group’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer. The Group did not have any contract assets as of June 30, 2024 and 2023.

The contract liability represents the billings or cash received for services in advance of revenue recognition and is recognized as revenue when all of the Group’s revenue recognition criteria are met. The Group did not have any contract liabilities as of June 30, 2024 and 2023.

Cost of revenues

(o)

Cost of revenues

Cost of revenues primarily consists of amortization of software, payment to a third-party service provider for outsourced operation and server costs.

Selling expenses

(p)

Selling expenses

Selling expenses mainly consist of payroll expense, marketing and promotion expense and etc.

General and administrative expenses

(q)

General and administrative expenses

General and administrative expenses mainly consist of withholding tax, professional service fees, payroll expense, and other office miscellaneous fees.

Research and development expenses

(r)

Research and development expenses

Research and development expenses consist primarily consist of AI training service fee, product development fee, and technology service fees paid to external consultant.

Income taxes

(s)

Income taxes

The Group accounts for income taxes under ASC 740. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases.

Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities.

The provisions of ASC 740-10-25, “Accounting for Uncertainty in Income Taxes,” prescribe a more-likely-than-not threshold for financial statements recognition and measurement of a tax position taken (or expected to be taken) in a tax return. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and related disclosures.

Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Group did not accrue any liability, interest or penalties related to uncertain tax positions in its provision for income taxes line of its statements of income for the years ended June 30, 2024, 2023 and 2022.

The Group does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months.

Commitments and contingencies

(t)

Commitments and contingencies

In the normal course of business, the Group is subject to commitments and contingencies, including operating lease commitments, legal proceedings and claims arising out of its business that relate to a wide range of matters, such as government investigations and tax matters. The Group recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Group may consider many factors in making these assessments on liability for contingencies, including historical and the specific facts and circumstances of each matter.

Earnings per share

(u)

Earnings per share

The Group computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260"). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS are computed by dividing income available to ordinary shareholders of the Group by the weighted average ordinary shares outstanding during the period. Diluted EPS takes into account the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised and converted into ordinary shares. For the years ended June 30, 2024, 2023 and 2022, there were no dilution impact.

Segment reporting

(v)

Segment reporting

ASC 280, Segment Reporting, establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for internal reporting. As the Group’s long-lived assets are substantially located in Singapore, no segment geographical information is presented.

Recent accounting pronouncements

(w)

Recent accounting pronouncements

The Group is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies.

In March 2023, the FASB issued new accounting guidance, ASU 2023-01, for leasehold improvements associated with common control leases, which is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for both interim and annual financial statements that have not yet been made available for issuance. The new guidance introduced two issues: terms and conditions to be considered with leases between related parties under common control and accounting for leasehold improvements. The goals for the new issues are to reduce the cost associated with implementing and applying Topic 842 and to promote diversity in practice by entities within the scope when applying lease accounting requirements. ASU 2023-01 is effective for the Group for annual and interim reporting periods beginning January 1, 2024. The Group expects that no material effect of the adoption of this ASU.

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements — codification amendments in response to SEC’s disclosure Update and Simplification initiative which amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows — Overall, 250-10 Accounting Changes and Error Corrections — Overall, 260-10 Earnings Per Share — Overall, 270-10 Interim Reporting — Overall, 440-10 Commitments — Overall, 470-10 Debt — Overall, 505-10 Equity — Overall, 815-10 Derivatives and Hedging — Overall, 860-30 Transfers and Servicing — Secured Borrowing and Collateral, 932-235 Extractive Activities — Oil and Gas — Notes to Financial Statements, 946-20 Financial Services — Investment Companies — Investment Company Activities, and 974-10 Real Estate — Real Estate Investment Trusts — Overall. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in the Codification with the SEC’s regulations. For entities subject to existing SEC disclosure requirements or those that must provide financial statements to the SEC for securities purposes without contractual transfer restrictions, the effective date aligns with the date when the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is not allowed. For all other entities, the amendments will be effective two years later from the date of the SEC’s removal. The Group is in the process of evaluating the effect of the adoption of this ASU.

In November 2023, the FASB issued ASU 2023-07, which is an update to Topic 280, Segment Reporting. The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this update: (1) require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss (collectively referred to as the “significant expense principle”), (2) Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss, (3) Require that a public entity provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, and (4) Clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s combined financial statements. In other words, in addition to the measure that is most consistent with the measurement principles under generally accepted accounting principles (GAAP), a public entity is not precluded from reporting additional measures of a segment’s profit or loss that are used by the CODM in assessing segment performance and deciding how to allocate resources, (5) Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (6) Require that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this Update and all existing segment disclosures in Topic 280. The amendments in this Update also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. A public entity should apply the amendments in this Update retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Group expects the adoption of this ASU will not have a material effect on the combined financial statements.

In December 2023, the FASB issued ASU 2023-09, Improvement to Income Tax Disclosure. This standard requires more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This standard also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for public business entities, for annual periods beginning after December 15, 2024. For entities other than public business entities, the amendments are effective for annual periods beginning after December 15, 2025. The Group expects the adoption of this ASU will not have a material effect on the combined financial statements.

The Group did not identify other recent accounting pronouncements that could potentially have a material impact to the Group’s combined results of operations or financial position.

Related Parties Transactions (Details) - Schedule of Due to Related Parties - USD ($)

Jun. 30, 2024

Jun. 30, 2023

Ufintek Group Pte. Ltd. [Member]

Amount due to related parties

^[1]

$ 604,084

$ 584,558

Yu Fan [Member]

Amount due to related parties

^[1]

276,701

6,715

Stony Holdings Limited [Member]

Amount due to related parties

^[2]

84,991

Wang Yizhou [Member]

Amount due to related parties

^[1]

1,524

Related Party [Member]

Amount due to related parties

$ 965,776

$ 592,797

[1]

The balance represents the advance funds received from related parties for daily operational purposes.

[2]

Concentration (Details) - Schedule of Customer Concentration Risk - Customer Concentration Risk [Member]	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Accounts Payable [Member] \| Supplier A [Member]
Concentration Risk [Line Items]
Concentration risk percentage	100.00%	100.00%
Accounts Payable [Member] \| Supplier [Member]
Concentration Risk [Line Items]
Concentration risk percentage	100.00%	100.00%
Customer A [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	35.30%	47.10%
Customer A [Member] \| Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage	37.50%	46.30%	51.40%
Customer B [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	27.50%	29.20%
Customer B [Member] \| Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage	26.90%	28.40%	34.00%
Customer [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	62.80%	76.30%
Customer [Member] \| Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage	64.40%	74.70%	85.40%

Combined Statements of Changes in Equity - USD ($)

Ordinary Shares

Additional paid-in capital

Subscription receivables

Retained earnings

Total

Balance at beginning at Jun. 30, 2021

$ 156

$ 7,556

$ (156)

$ 39,860

$ 47,416

Balance at beginning (in Shares) at Jun. 30, 2021

156

Net income

821,960

Balance at Ending at Jun. 30, 2022

$ 156

7,556

(156)

861,820

869,376

Balance at Ending (in Shares) at Jun. 30, 2022

156

Net income

4,814,703

Balance at Ending at Jun. 30, 2023

$ 156

7,556

(156)

5,676,523

$ 5,684,079

Balance at Ending (in Shares) at Jun. 30, 2023

156

^[1]

Net income

7,369,119

$ 7,369,119

Balance at Ending at Jun. 30, 2024

$ 156

$ 7,556

$ (156)

$ 13,045,642

$ 13,053,198

Balance at Ending (in Shares) at Jun. 30, 2024

156

^[1]

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Subsequent Event

12 Months Ended

Jun. 30, 2024

Subsequent Event [Abstract]

Subsequent Event

14.

Subsequent Event

Reversal Merger

On August 2, 2024 (the “Closing Date”), Helport Limited consummated the transaction pursuant to the First Amendment to the Business Combination Agreement, dated December 18, 2023, (and as may be further amended, collectively “Business Combination Agreement”) with Tristar Acquisition I Corp. (“Tristar”), Merger I Limited, a British Virgin Islands business company and a wholly-owned subsidiary of PubCo (the “First Merger Sub”), Merger II Limited, an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned subsidiary of PubCo (the “Second Merger Sub”).

The merger was carried out in two steps:

(3)

First Merger: The First Merger Sub will merge with and into Helport Limited (the “First Merger”), with Helport Limited surviving the First Merger as a wholly-owned subsidiary of PubCo and the outstanding securities of Helport Limited being converted into the right to receive securities of PubCo.

(4)

Second Merger: Following the First Merger, the Second Merger Sub will merge with and into Tristar (the “Second Merger”, and together with the First Merger, the “Mergers”), with Tristar surviving the Second Merger as a wholly-owned subsidiary of PubCo and the outstanding securities of Tristar being converted into the right to receive securities of PubCo

Consideration of $355 million was paid to Helport Limited’s shareholders, subject to net debt and working capital adjustments, and will be paid entirely in newly issued ordinary shares of PubCo, with each share valued at the Per Share Price. After the closing of the Business Combination on August 2, 2024, PubCo has 37,132,968 ordinary shares and 18,844,987 warrants issued and outstanding.

Lease Commitments

As of the date of issuance of the combined financial statements, the Group entered into two long-term operating leases for office spaces subsequently. One is located in the Philippines, with a lease term from October 16, 2024 to October 31, 2030, and an annual rental payment of PHP3,454,080 ($59,064). The other lease is located in the United States, with a lease term from October 1, 2024 to September 30, 2029, and the calculation of rental payments, as stipulated in the lease agreement, will totally amount to $710,034 during the entire lease term.

Subsequent Collection of Accounts Receivable

As of the date of issuance of the combined financial statements, the Group has collected $10,057,693 in the balance of accounts receivable from customers. The uncollected balance of accounts receivable accounts for 52.81% of the total balance of accounts receivable as of June 30, 2024, which are all aged within six months and the credit term granted to the customers. The collection of accounts receivable has immediately used to settle the accounts payable, mainly include the contract fee payable for the development of intangible assets.

The Group has evaluated subsequent events through June 30, 2024, the date of issuance of the combined financial statements, other than the events as disclosed above, and did not identify any other subsequent events with material financial impact on the Group’s combined financial statements.

Taxation (Details)	12 Months Ended
Taxation (Details)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 SGD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Taxation [Line Items]
Income tax	$ 1,601,933		$ 970,755	$ 152,917
Singapore [Member]
Taxation [Line Items]
Tax rate percentage	17.00%	17.00%
Tax First Year [Member]
Taxation [Line Items]
Tax rate percentage	75.00%	75.00%
Tax First Year [Member] \| Singapore [Member]
Taxation [Line Items]
Income tax	$ 7,379	$ 10,000
Tax Next Year [Member]
Taxation [Line Items]
Tax rate percentage	50.00%	50.00%
Tax Next Year [Member] \| Singapore [Member]
Taxation [Line Items]
Income tax	$ 140,201	$ 190,000

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

Earnings Per Share (Tables)

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share is calculated as follows:

	For the years ended June 30,
	2024		2023		2022
Numerator:
Net income	$	7,369,119	$	4,814,703	$	821,960
Denominator:
Weighted average number of ordinary shares outstanding
Basic		156		156		156
Diluted		156		156		156

Earnings per ordinary share
Basic	$	47,238	$	30,863	$	5,269
Diluted	$	47,238	$	30,863	$	5,269

Earnings Per Share

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

11.

Earnings Per Share

Basic and diluted earnings per share is calculated as follows:

	For the years ended June 30,
	2024		2023		2022
Numerator:
Net income	$	7,369,119	$	4,814,703	$	821,960
Denominator:
Weighted average number of ordinary shares outstanding
Basic		156		156		156
Diluted		156		156		156

Earnings per ordinary share
Basic	$	47,238	$	30,863	$	5,269
Diluted	$	47,238	$	30,863	$	5,269

Summary of Significant Accounting Policies (Details) - Schedule of Revenues - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Schedule of Revenues [Line Items]
Total revenues	$ 29,575,625	$ 12,728,313	$ 2,667,914
AI services [Member]
Schedule of Revenues [Line Items]
Total revenues	29,575,625	12,689,750	2,566,418
Others [Member]
Schedule of Revenues [Line Items]
Total revenues		$ 38,563	$ 101,496

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Convertible Promissory Notes

12 Months Ended

Jun. 30, 2024

Convertible Promissory Notes [Abstract]

Convertible Promissory Notes

Convertible Promissory Notes

The balance of convertible promissory notes as of June 30, 2024 and 2023 consisted of the following:

	As of June 30,
	2024		2023
Debt from SIS SPAC INVESTMENT FUND PTE. LTD.	$	1,000,000	$	-
Debt from Song Diego Corporation		1,000,000		-
Debt from Shan Ling Ge		850,000		-
Debt from Kia Hong Lim		550,000		-
Debt from SIS GLOBAL FUND VCC		500,000		-
Debt from Simon Meng		335,000		-
Debt from Ling Fei Yen		250,000		-
Debt from Lik Qi Lim		200,000		-
Debt from Ah Lian Ng		104,074		-
Debt from Hwee Hai Lim		100,000		-
Total Convertible Promissory Notes	$	4,889,074	$	-

On March 6, 2024, March 8, 2024, March 12, 2024, May 15, 2024, May 17, 2024 and May 26, 2024, the Group successively issued $1,550,000, $550,000, $1,000,000, $2,000,000, $500,000 and $ 439,074 (a total of $6,039,074) convertible promissory notes, respectively, to total ten lenders. The principal plus interest accrued (“Outstanding Balance”) of such convertible promissory notes is automatically converted into the Ordinary Shares of the Company at a price of $10.80 per share upon consummation of the Business Combination with Tristar. The convertible promissory notes are all subject to an interest rate of 8% per annum, with a maturity date on December 31, 2024.

On June 20, 2024, the Group (“Borrower”) amended one Form of Convertible Promissory Note (“the Note” and collectively, “the Notes”) of $2,000,000 issued on May 15, 2024, to one lender named Shanling Ge (“Lender”), pursuant to which, by mutual consent, the Borrower and the Lender agree that the issuance amount of the Note shall change to $850,000 from $2,000,000, with all the other terms previously stipulated in the Note remaining the same (“Amendment to the Note”). As of June 20, 2024, the Group has received all the funds of $4,889,074 from the issuance of convertible promissory notes subject to the Notes as well as the Amendment to the Note. The Group accounted for these convertible debt as a liability, which is stated at amortized cost with any difference between the initial carrying value and the debt issuance costs using the effective interest method over the period from the issuance date to the maturity date.

Interest expense accrued for convertible promissory notes was $95,326, nil and nil for the years ended June 30, 2024, 2023 and 2022.

On August 2, upon consummation of the Business Combination with Tristar, the outstanding balance of the total convertible promissory notes is automatically converted into the 464,838 Ordinary Shares of the Company at a price of $10.80 per share.

Related Parties Transactions (Details) - Schedule of Transactions with Related Parties: - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Stony Holdings Limited [Member]
Related Party Transaction [Line Items]
Loan from related parties	$ 84,991
Ufintek Group Pte. Ltd. [Member]
Related Party Transaction [Line Items]
Loan from related parties		561,703	18,229
Loan repayment to related parties	3,638
Yu Fan [Member]
Related Party Transaction [Line Items]
Loan from related parties	269,986	7,356	178,159
Loan repayment to related parties		45,102	114,465
Wang Yizhou [Member]
Related Party Transaction [Line Items]
Advance payment from a related party		1,524
Reimbursement for advance payment from a related party	1,524
Service fees paid to a related party		$ 751

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Jun. 30, 2024

Accrued Expenses and Other Liabilities [Abstract]

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:

	As of June 30,
	2024		2023
Payables to third parties	$	3,793,161	$	297,700
VAT payable ⁽¹⁾		1,333,470		909,710
Interest payable		95,326		-
Payroll payable		41,282		5,575
Accrued expenses and other liabilities	$	5,263,239	$	1,212,985

(1)	The balance of VAT payable is due to the service revenues generated in the PRC, which is subject to 6% of VAT rate.

Accounts Receivable (Tables)

12 Months Ended

Jun. 30, 2024

Accounts Receivable [Abstract]

Schedule of Accounts Receivable

Accounts receivable consists of the following:

	As of June 30,
	2024		2023
Accounts receivable	$	21,313,735	$	14,545,921
Accounts receivable	$	21,313,735	$	14,545,921

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(a)

Basis of presentation

(b)

Principle of combination

(c)

Use of estimates

(d)

Foreign currency translation

The reporting currency of the Group is the U.S. dollar (“USD” or “$"). The functional currency of the Company and its subsidiary located in Singapore is the U.S. dollar.

(e)

Deferred offering costs

(f)

Cash

Cash consists of cash in bank only. As of June 30, 2024 and 2023, cash balances were $2,581,086 and $142,401, respectively.

(g)

Credit losses

(h)

Accounts receivable, net

(i)

Intangible assets, net

Intangible assets with finite useful lives are carried at cost less accumulated amortization and any recorded impairment. Estimated useful lives by intangible asset classes are as follows:

Category		Estimated useful lives
Software		3 years

The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives may have changed.

(j)

Impairment of long-lived assets

(k)

Fair value measurement

(l)

Accounts and other payables

(m)

Related party

(n)

Revenue recognition

On July 1, 2020, the Group adopted Accounting Standards Codification (“ASC”) 606 using the modified retrospective approach.

Step 1: Identify the contract with the customer

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to the performance obligations in the contract

Step 5: Recognize revenue when the company satisfies a performance obligation

These criteria as they relate to each of the following major revenue generating activities are described below.

Revenues are presented net of value added taxes (“VAT”).

	For the years ended June 30,
	2024		2023		2022
AI services	$	29,575,625	$	12,689,750	$	2,566,418
Others		-		38,563		101,496
Total revenues	$	29,575,625	$	12,728,313	$	2,667,914

AI services

Others

(n)

Revenue recognition (continued)

Principal versus agent considerations

	●	The Group owns its brand and intellectual property, directs the third-party service provider to conduct a series of outsourced operation activities on its behalf, and reserves the right to accept or reject any customer contracts without involvement of the third-party service provider. The Group assumes primary responsibility for controlling the quality of AI service deliverables.

	●	The Group has discretion in setting up the price. The third-party service provider is only entitled to the fixed outsourced operation fees settled monthly for their performance obligation and do not participate in profit share for the revenues from AI services.

Contract balance

(o)

Cost of revenues

Cost of revenues primarily consists of amortization of software, payment to a third-party service provider for outsourced operation and server costs.

(p)

Selling expenses

Selling expenses mainly consist of payroll expense, marketing and promotion expense and etc.

(q)

General and administrative expenses

General and administrative expenses mainly consist of withholding tax, professional service fees, payroll expense, and other office miscellaneous fees.

(r)

Research and development expenses

Research and development expenses consist primarily consist of AI training service fee, product development fee, and technology service fees paid to external consultant.

(s)

Income taxes

The Group does not expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months.

(t)

Commitments and contingencies

(u)

Earnings per share

(v)

Segment reporting

(w)

Recent accounting pronouncements

The Group did not identify other recent accounting pronouncements that could potentially have a material impact to the Group’s combined results of operations or financial position.

Prepaid Expenses and Other Receivables (Details) - Schedule of Prepaid Expenses and Other Receivables - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Prepaid Expenses and Other Receivables [Abstract]
Prepaid operation expenses	$ 27,396
Deposits	13,198
Others	1,372
Prepaid expenses and other receivables	$ 41,966

Commitments and Contingencies (Details) - Schedule of Future Minimum Lease Payments under Short-Term Lease - Short-term office rental fees [Member]	Jun. 30, 2024 USD ($)
Schedule of Future Minimum Lease Payments under Short-Term Lease [Line Items]
Future minimum lease payments, Less than one year	$ 169,902
Future minimum lease payments, Total	$ 169,902

Concentration (Tables)

12 Months Ended

Jun. 30, 2024

Concentration [Abstract]

Schedule of Customer Concentration Risk

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total accounts receivable:

	As of June 30,
	2024			2023
Customer A		35.3	%		47.1	%
Customer B		27.5	%		29.2	%
Total		62.8	%		76.3	%

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total revenue:

	For the years ended June 30,
	2024			2023			2022
Customer A		37.5	%		46.3	%		51.4	%
Customer B		26.9	%		28.4	%		34.0	%
Total		64.4	%		74.7	%		85.4	%

The following table sets forth a summary of single supplier who represent 10% or more of the Group’s total accounts payable:

	As of June 30,
	2024			2023
Supplier A		100.0	%		100.0	%
Total		100.0	%		100.0	%

Accounts Receivable (Details) - USD ($)	12 Months Ended
Accounts Receivable (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable [Line Items]
Accounts receivable from customers	$ 21,313,735	$ 14,545,921
Accounts receivable percentage	52.81%
Accounts Receivable [Member]
Accounts Receivable [Line Items]
Accounts receivable from customers	$ 10,057,693

Prepaid Expenses and Other Receivables (Tables)

12 Months Ended

Jun. 30, 2024

Prepaid Expenses and Other Receivables [Abstract]

Schedule of Prepaid Expenses and Other Receivables

Prepaid expenses and other receivables consists of the following:

	As of June 30,
	2024		2023
Prepaid operation expenses	$	27,396	$	-
Deposits		13,198		-
Others		1,372		-
Prepaid expenses and other receivables	$	41,966	$	-

Intangible Assets, Net

12 Months Ended

Jun. 30, 2024

Intangible Assets, Net [Abstract]

Intangible Assets, Net

Intangible Assets, Net

Intangible assets, net, consists of the following:

	As of June 30,
	2024			2023
Software	$	7,695,000		$	7,000,000
Accumulated amortization		(5,269,306	)		(2,916,667	)
Intangible assets, net	$	2,425,694		$	4,083,333

Amortization expense was $2,352,639, $2,333,334 and $583,333 for the years ended June 30, 2024, 2023 and 2022.

Convertible Promissory Notes (Tables)

12 Months Ended

Jun. 30, 2024

Convertible Promissory Notes [Abstract]

Schedule of Convertible Promissory Notes

The balance of convertible promissory notes as of June 30, 2024 and 2023 consisted of the following:

	As of June 30,
	2024		2023
Debt from SIS SPAC INVESTMENT FUND PTE. LTD.	$	1,000,000	$	-
Debt from Song Diego Corporation		1,000,000		-
Debt from Shan Ling Ge		850,000		-
Debt from Kia Hong Lim		550,000		-
Debt from SIS GLOBAL FUND VCC		500,000		-
Debt from Simon Meng		335,000		-
Debt from Ling Fei Yen		250,000		-
Debt from Lik Qi Lim		200,000		-
Debt from Ah Lian Ng		104,074		-
Debt from Hwee Hai Lim		100,000		-
Total Convertible Promissory Notes	$	4,889,074	$	-

Accrued Expenses and Other Liabilities (Details) - Schedule of Accrued Expenses and Other Liabilities - USD ($)

Jun. 30, 2024

Jun. 30, 2023

Schedule of Accrued Expenses and Other Liabilities [Abstract]

Payables to third parties

$ 3,793,161

$ 297,700

VAT payable

^[1]

1,333,470

909,710

Interest payable

95,326

Payroll payable

41,282

5,575

Accrued expenses and other liabilities

$ 5,263,239

$ 1,212,985

[1]	The balance of VAT payable is due to the service revenues generated in the PRC, which is subject to 6% of VAT rate.

Earnings Per Share (Details) - Schedule of Basic and Diluted Earnings Per Share - USD ($)

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2022

Numerator:

Net income

$ 7,369,119

$ 4,814,703

$ 821,960

Weighted average number of ordinary shares outstanding

Basic

^[1]

156

Diluted

^[1]

156

Earnings per ordinary share

Basic

$ 47,238

$ 30,863

$ 5,269

Diluted

$ 47,238

$ 30,863

$ 5,269

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Pay vs Performance Disclosure - USD ($)	12 Months Ended
Pay vs Performance Disclosure - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 7,369,119	$ 4,814,703	$ 821,960

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Combined Balance Sheets - USD ($)

Jun. 30, 2024

Jun. 30, 2023

Cash

$ 2,581,086

$ 142,401

Accounts receivable

21,313,735

14,545,921

Deferred offering costs

817,871

Prepaid expenses and other receivables

41,966

Total current assets

24,754,658

14,688,322

Intangible assets, net

2,425,694

4,083,333

Total non-current asset

2,425,694

4,083,333

Total assets

27,180,352

18,771,655

Accounts payable

284,067

10,158,729

Income tax payable

2,724,998

1,123,065

Convertible promissory notes

4,889,074

Accrued expenses and other liabilities

5,263,239

1,212,985

Total current liabilities

14,127,154

13,087,576

Total liabilities

14,127,154

13,087,576

Commitments and contingencies

Ordinary shares (US$1 par value per share; 50,000 authorized as of June 30, 2024, and 2023; 156 issued and outstanding as of June 30, 2024 and 2023, respectively)*

^[1]

156

Additional paid-in capital

7,556

Subscription receivables

(156)

Retained earnings

13,045,642

5,676,523

Shareholders’ equity

13,053,198

5,684,079

Total liabilities and shareholders’ equity

27,180,352

18,771,655

Related Party

Amount due to related parties

$ 965,776

$ 592,797

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

Related Parties Transactions (Details) - USD ($)	Mar. 15, 2024	Jun. 30, 2024
Related Party Transaction [Line Items]
Interest rate	0.00%
Lines of credit		$ 84,991
Maximum [Member]
Related Party Transaction [Line Items]
Unsecured line of credit	$ 4,000,000
Minimum [Member]
Related Party Transaction [Line Items]
Unsecured line of credit	$ 2,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Combined Balance Sheets (Parentheticals) - $ / shares

Jun. 30, 2024

Jun. 30, 2023

Statement of Financial Position [Abstract]

Common stock, par value (in Dollars per share)

^[1]

$ 1

Common stock, shares authorized

^[1]

50,000

Common stock, shares issued

^[1]

156

Common stock, shares outstanding

^[1]

156

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

Accrued Expenses and Other Liabilities (Details)	12 Months Ended
Accrued Expenses and Other Liabilities (Details)	Jun. 30, 2024
Accrued Expenses and Other Liabilities [Abstract]
VAT rate percentage	6.00%

Related Parties Transactions (Tables)

12 Months Ended

Jun. 30, 2024

Schedule of Related Parties

The table below sets forth the major related parties and their relationships with the Group as of June 30, 2024 and 2023:

No.	Related Parties	Relationship
1	Ufintek Group Pte. Ltd.	Wang Yizhou, Financial Director of Helport Singapore, serves as the Executive Director of Ufintek Group Pte. Ltd.
2	Stony Holdings Limited	Shareholder of Helport Limited
3	Ms. Fan Yu	Chairman of the Board of Directors of Helport Limited
4	Ms. Yizhou Wang	Financial Director of Helport Singapore

Schedule of Transactions with Related Parties:

The Group entered into the following transactions with related parties:

	For the years ended June 30,
	2024		2023		2022
Nature
Loan from related parties
Stony Holdings Limited	$	84,991	$	-	$	-
Ufintek Group Pte. Ltd.	$	-	$	561,703	$	18,229
Yu Fan	$	269,986	$	7,356	$	178,159

Advance payment from a related party
Wang Yizhou	$	-	$	1,524	$	-

Reimbursement for advance payment from a related party
Wang Yizhou	$	1,524	$	-	$	-

Service fees paid to a related party
Wang Yizhou	$	-	$	751	$	-

Loan repayment to related parties
Ufintek Group Pte. Ltd.	$	3,638	$	-	$	-
Yu Fan	$	-	$	45,102	$	114,465

Schedule of Due to Related Parties

The Group had the following balances with related parties:

	As of June 30,
	2024		2023
Amount due to related parties:
Ufintek Group Pte. Ltd. ⁽¹⁾	$	604,084	$	584,558
Yu Fan ⁽¹⁾		276,701		6,715
Stony Holdings Limited ⁽²⁾		84,991		-
Wang Yizhou ⁽¹⁾		-		1,524
Total	$	965,776	$	592,797

(1)

The balance represents the advance funds received from related parties for daily operational purposes.

(2)

Organization and Principal Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Dec. 22, 2023
Organization and Principal Activities [Line Items]
Consideration amount	$ 355
Helport Singapore [Member]
Organization and Principal Activities [Line Items]
Percentage of equity interest		100.00%

Convertible Promissory Notes (Details) - Schedule of Convertible Promissory Notes - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	$ 4,889,074
Debt from SIS SPAC INVESTMENT FUND PTE. LTD. [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	1,000,000
Debt from Song Diego Corporation [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	1,000,000
Debt from Shan Ling Ge [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	850,000
Debt from Kia Hong Lim [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	550,000
Debt from SIS GLOBAL FUND VCC [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	500,000
Debt from Simon Meng [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	335,000
Debt from Ling Fei Yen [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	250,000
Debt from Lik Qi Lim [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	200,000
Debt from Ah Lian Ng [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	104,074
Debt from Hwee Hai Lim [Member]
Schedule of Convertible Promissory Notes [Line Items]
Convertible promissory notes	$ 100,000

Cover	12 Months Ended
Cover	Jun. 30, 2024 shares
Document Information [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Document Shell Company Report	false
Entity Interactive Data Current	Yes
Document Accounting Standard	U.S. GAAP
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Information [Line Items]
Entity Registrant Name	Helport AI Limited
Entity Central Index Key	0002001699
Entity File Number	000-000000
Entity Incorporation, State or Country Code	D8
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	9 Temasek Boulevard #07-00
Entity Address, Address Line Two	Suntec Tower Two
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	038989
Ordinary Shares
Entity Listings [Line Items]
Title of 12(b) Security	Ordinary Shares
Trading Symbol	HPAI
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	37,132,968
Warrants to purchase Ordinary Shares
Entity Listings [Line Items]
Title of 12(b) Security	Warrants to purchase Ordinary Shares
Trading Symbol	HPAIW
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	18,844,987
Business Contact [Member]
Entity Contact Personnel [Line Items]
Contact Personnel Name	Mr. Guanghai Li
Contact Personnel Email Address	Email: liguanghai@HELPORT.AI
Entity Address, Address Line One	9 Temasek Boulevard #07-00
Entity Address, Address Line Two	Suntec Tower Two
Entity Address, City or Town	Singapore
Entity Address, Country	SG
Entity Address, Postal Zip Code	038989
Entity Phone Fax Numbers [Line Items]
City Area Code	+65
Local Phone Number	82336584

Commitments and Contingencies

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and contingencies

13.

Commitments and contingencies

Lease Commitments

The total future minimum lease payments under the short-term lease with respect to the office as of June 30, 2024 are payable as follows:

	Payment due to schedule
	Less than one year		Total
	US$		US$
Short-term office rental fees		169,902		169,902

Contingencies

In the ordinary course of business, the Group may be subject to legal proceedings regarding contractual and employment relationships and a variety of other matters. The Group records contingent liabilities resulting from such claims, when a loss is assessed to be probable and the amount of the loss is reasonably estimable. In the opinion of management, there were no pending or threatened claims and litigation as of June 30, 2024 and through the issuance date of these combined financial statements.

Taxation

12 Months Ended

Jun. 30, 2024

Taxation [Abstract]

Taxation

Taxation

British Virgin Islands (“BVI”)

Helport AI Limited and its subsidiaries, Helport Limited and Helport BVI, are incorporated in the British Virgin Islands. Under the current laws of the British Virgin Islands, Helport Limited is not subject to tax on income or capital gains. Additionally, upon payments of dividends by Helport AI Limited to its shareholders, no BVI withholding tax will be imposed.

Singapore

Helport Singapore is incorporated in Singapore and is subject to Singapore Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Singapore tax laws. The applicable tax rate is 17% in Singapore, with 75% of the first $7,379 (SGD10,000) taxable income and 50% of the next $140,201 (SGD190,000) taxable income are exempted from income tax.

United States

Helport AI is incorporated in the United States is subject to state income tax and federal income tax depending upon taxable income levels. It did not have taxable income and no income tax expense was provided for the years ended June 30, 2024, 2023 and 2022.

The following table sets forth current and deferred portion of income tax expense of the Company’s subsidiaries:

	2024		2023		2022
Current income tax expense	$	1,601,933	$	970,755	$	152,917
Deferred income tax		-		-		-
Total income tax expense	$	1,601,933	$	970,755	$	152,917

A reconciliation between the Group’s actual provision for income taxes and the provision at the Singapore statutory rate is as follows:

	For the years ended June 30,
	2024			2023			2022
Income before income tax expenses	$	8,971,052		$	5,785,458		$	974,877
Income tax expenses at the Singapore statutory rate		1,525,079			983,528			165,729
Impact of different tax rates in other jurisdictions		95,670			-			-
Effect of preferential tax rate		(18,816	)		(12,773	)		(12,812	)
Total income tax expenses	$	1,601,933		$	970,755		$	152,917

The Group did not recognize any deferred tax assets as of June 30, 2024 and 2023.

Uncertain tax positions

The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of June 30, 2024, the Group did not have any significant unrecognized uncertain tax positions. The Group does not believe that its uncertain tax benefits position will materially change over the next twelve months. As of June 30, 2024, income for tax returns for the tax years from 2020 to 2023 remain open for statutory examination.

- Definition

The entire disclosure for income tax.

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+ Details

Insider Trading Policies and Procedures	3 Months Ended
Insider Trading Policies and Procedures	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Taxation (Details) - Schedule of Current and Deferred Portion of Income Tax Expense - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Schedule of Current and Deferred Portion of Income Tax Expense [Abstract]
Current income tax expense	$ 1,601,933	$ 970,755	$ 152,917
Deferred income tax
Income tax expense	$ 1,601,933	$ 970,755	$ 152,917

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

Combined Statements of Cash Flows - USD ($)	12 Months Ended
Combined Statements of Cash Flows - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 7,369,119	$ 4,814,703	$ 821,960
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	2,352,639	2,333,334	583,333
Changes in operating assets and liabilities:
Accounts receivable	(6,813,674)	(12,079,780)	(2,463,761)
Prepaid expenses and other receivables	(41,966)
Accounts payable	(3,158,729)	2,547,916	610,813
Amount due to related parties	21,640	7,626	16,450
Accrued expenses and other liabilities	3,702,668	951,932	194,508
Income tax payable	1,601,933	970,148	152,917
Net cash provided by/(used in) operating activities	5,033,630	(454,121)	(83,780)
CASH FLOWS FORM INVESTING ACTIVITY
Purchase of intangible assets	(7,410,933)
Net cash used in investing activity	(7,410,933)
CASH FLOWS FORM FINANCING ACTIVITIES
Payment for listing costs	(817,871)
Proceeds from convertible promissory notes	4,889,074
Loan from a third party	977,156	66,545
Repayment of loan from a third party	(629,570)
Loan from related parties	354,977	569,059	196,388
Repayment of loan from related parties	(3,638)	(45,102)	(114,465)
Net cash provided by financing activities	4,770,128	590,502	81,923
Effect of exchange rate changes	45,860	(2,380)
Net change in cash	2,438,685	134,001	(1,857)
Cash at the beginning of the year	142,401	8,400	10,257
Cash at the end of the year	$ 2,581,086	$ 142,401	$ 8,400

- Definition

Repayment of loan from a third party.

+ References + Details

Convertible Promissory Notes (Details) - USD ($)			12 Months Ended
Convertible Promissory Notes (Details) - USD ($)	Aug. 02, 2024	May 15, 2024	Jun. 30, 2024	Mar. 26, 2024	Mar. 17, 2024	Mar. 15, 2024	Mar. 12, 2024	Mar. 08, 2024	Mar. 06, 2024	Jun. 30, 2023	Jun. 30, 2022
Convertible Promissory Notes [Line Items]
Convertible promissory notes			$ 4,889,074
Issued note payable		$ 2,000,000
Interest expense			95,326
Convertible Debt [Member]
Convertible Promissory Notes [Line Items]
Convertible promissory notes		4,889,074	$ 6,039,074	$ 439,074	$ 500,000	$ 2,000,000	$ 1,000,000	$ 550,000	$ 1,550,000
Interest expense		95,326
Convertible Notes Payable [Member]
Convertible Promissory Notes [Line Items]
Converted price (in Dollars per share)			$ 10.8
Interest rate			8.00%
Maturity date			Dec. 31, 2024
Subsequent Event [Member]
Convertible Promissory Notes [Line Items]
Converted price (in Dollars per share)	$ 10.8
converted shares (in Shares)	464,838
Maximum [Member]
Convertible Promissory Notes [Line Items]
Issued note payable		850,000
Minimum [Member]
Convertible Promissory Notes [Line Items]
Issued note payable		$ 2,000,000

Taxation (Details) - Schedule of Income Taxes and the Provision at the Statutory Rate - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Schedule of Income Taxes and the Provision at the Statutory Rate [Abstract]
Income before income tax expenses	$ 8,971,052	$ 5,785,458	$ 974,877
Income tax expenses at the Singapore statutory rate	1,525,079	983,528	165,729
Impact of different tax rates in other jurisdictions	95,670
Effect of preferential tax rate	(18,816)	(12,773)	(12,812)
Income tax expense	$ 1,601,933	$ 970,755	$ 152,917

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

Intangible Assets, Net (Details) - USD ($)	12 Months Ended
Intangible Assets, Net (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Intangible Assets, Net [Abstract]
Amortization expense	$ 2,352,639	$ 2,333,334	$ 583,333

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Schedule of Future Minimum Lease Payments under Short-Term Lease

The total future minimum lease payments under the short-term lease with respect to the office as of June 30, 2024 are payable as follows:

	Payment due to schedule
	Less than one year		Total
	US$		US$
Short-term office rental fees		169,902		169,902

Taxation (Tables)

12 Months Ended

Jun. 30, 2024

Taxation [Abstract]

Schedule of Current and Deferred Portion of Income Tax Expense

The following table sets forth current and deferred portion of income tax expense of the Company’s subsidiaries:

	2024		2023		2022
Current income tax expense	$	1,601,933	$	970,755	$	152,917
Deferred income tax		-		-		-
Total income tax expense	$	1,601,933	$	970,755	$	152,917

Schedule of Income Taxes and the Provision at the Statutory Rate

A reconciliation between the Group’s actual provision for income taxes and the provision at the Singapore statutory rate is as follows:

	For the years ended June 30,
	2024			2023			2022
Income before income tax expenses	$	8,971,052		$	5,785,458		$	974,877
Income tax expenses at the Singapore statutory rate		1,525,079			983,528			165,729
Impact of different tax rates in other jurisdictions		95,670			-			-
Effect of preferential tax rate		(18,816	)		(12,773	)		(12,812	)
Total income tax expenses	$	1,601,933		$	970,755		$	152,917

Audit Information	12 Months Ended
Audit Information	Jun. 30, 2024
Auditor [Table]
Auditor Name	Enrome LLP
Auditor Firm ID	6907
Auditor Location	Singapore

Accounts Receivable (Details) - Schedule of Accounts Receivable - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Schedule of Accounts Receivable [Abstract]
Accounts receivable	$ 21,313,735	$ 14,545,921
Accounts receivable	$ 21,313,735	$ 14,545,921

Organization and Principal Activities (Details) - Schedule of Subsidiaries	12 Months Ended
	Jun. 30, 2024
Helport Limited (“Helport”) [Member]
Schedule of Subsidiaries [Line Items]
Date of incorporation	Jun. 05, 2023
Place of incorporation	British Virgin Islands
Percentage of direct or indirect ownership	100.00%
Principal activities	Holding company
Helport Group Limited (“Helport BVI”) [Member]
Schedule of Subsidiaries [Line Items]
Date of incorporation	Nov. 14, 2023
Place of incorporation	British Virgin Islands
Percentage of direct or indirect ownership	100.00%
Principal activities	Holding company
Helport Pte. Ltd. (“Helport Singapore”) [Member]
Schedule of Subsidiaries [Line Items]
Date of incorporation	Sep. 27, 2020
Place of incorporation	Singapore
Percentage of direct or indirect ownership	100.00%
Principal activities	Development of software and applications
Helport AI Inc. (“Helport AI”) [Member]
Schedule of Subsidiaries [Line Items]
Date of incorporation	Sep. 15, 2023
Place of incorporation	United States
Percentage of direct or indirect ownership	100.00%
Principal activities	Development of software and applications

Intangible Assets, Net (Details) - Schedule of Intangible Assets, Net - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Intangible Assets, Net [Abstract]
Software	$ 7,695,000	$ 7,000,000
Accumulated amortization	(5,269,306)	(2,916,667)
Intangible assets, net	$ 2,425,694	$ 4,083,333

Accrued Expenses and Other Liabilities

12 Months Ended

Jun. 30, 2024

Accrued Expenses and Other Liabilities [Abstract]

Accrued Expenses and Other Liabilities

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:

	As of June 30,
	2024		2023
Payables to third parties	$	3,793,161	$	297,700
VAT payable ⁽¹⁾		1,333,470		909,710
Interest payable		95,326		-
Payroll payable		41,282		5,575
Accrued expenses and other liabilities	$	5,263,239	$	1,212,985

(1)	The balance of VAT payable is due to the service revenues generated in the PRC, which is subject to 6% of VAT rate.

Related Parties Transactions (Details) - Schedule of Related Parties	12 Months Ended
	Jun. 30, 2024
Ufintek Group Pte. Ltd. [Member]
Related Party Transaction [Line Items]
Related Parties Relationship	Wang Yizhou, Financial Director of Helport Singapore, serves as the Executive Director of Ufintek Group Pte. Ltd.
Stony Holdings Limited [Member]
Related Party Transaction [Line Items]
Related Parties Relationship	Shareholder of Helport Limited
Ms. Fan Yu [Member]
Related Party Transaction [Line Items]
Related Parties Relationship	Chairman of the Board of Directors of Helport Limited
Ms. Yizhou Wang [Member]
Related Party Transaction [Line Items]
Related Parties Relationship	Financial Director of Helport Singapore

- Definition

A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates.

+ References + Details

Ordinary Shares (Details) - $ / shares

Jun. 30, 2024

^[1]

Dec. 22, 2023

Jun. 30, 2023

^[1]

Ordinary Shares [Abstract]

Ordinary shares issued

156

Ordinary share, par value

$ 1

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Schedule of Estimated Useful Lives by Intangible Assets

Intangible assets with finite useful lives are carried at cost less accumulated amortization and any recorded impairment. Estimated useful lives by intangible asset classes are as follows:

Category		Estimated useful lives
Software		3 years

Schedule of Revenues

Revenues are presented net of value added taxes (“VAT”).

	For the years ended June 30,
	2024		2023		2022
AI services	$	29,575,625	$	12,689,750	$	2,566,418
Others		-		38,563		101,496
Total revenues	$	29,575,625	$	12,728,313	$	2,667,914

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Summary of Significant Accounting Policies [Line Items]
Deferred offering costs	$ 817,871
Cash in bank	$ 2,581,086	$ 142,401	$ 8,400	$ 10,257
Voting interest percentage	10.00%
Unrecognized Tax	12 months
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Customers credit term	180 days
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Customers credit term	365 days

Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful Lives by Intangible Assets	Jun. 30, 2024
Software [Member]
Schedule of Estimated Useful Lives by Intangible Assets [Line Items]
Estimated useful lives	3 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Organization and Principal Activities

12 Months Ended

Jun. 30, 2024

Organization and Principal Activities [Abstract]

Organization and Principal Activities

Organization and Principal Activities

Description of Business and Corporate History

Helport Limited (“Helport”) was incorporated under the law of the British Virgin Island (“BVI”) as an exempted company with limited liability on June 5, 2023. Helport Limited, through its Singapore-based wholly-owned subsidiary, Helport Pte. Ltd. (collectively, the “Group”), is principally engaged in the development of software and applications and mainly providing software-as-a-service (“SaaS”) platform and artificial intelligent (“AI”) tools to customers in the contact center industry currently.

History of the Group

The Group’s history began in September 2020 with the establishment of Helport Pte. Ltd. (“Helport Singapore”), a limited liability company established in the Singapore by Ms. Fan Yu (known as the “Founding Shareholder”).

2023 Reorganization

In 2023, the Founding Shareholder undertook an equity restructuring in order to re-domicile its business from Singapore to the British Virgin Islands (the “2023 Reorganization”), which was executed in the following steps:

1)	In June 2023, Helport Limited was incorporated in the British Virgin Islands to be the holding company of the Group. On November 14, 2023, Helport established Helport Group Limited (“Helport BVI”) also in the British Virgin Islands, a wholly owned subsidiary to be the intermediate holding company.

2)	Effective on December 22, 2023, Helport Limited through Helport BVI acquired 100% of the equity interest of Helport Singapore from the Founding Shareholder, thus Helport Singapore became a wholly owned subsidiary of Helport Limited.

The main purpose of the 2023 Reorganization was to establish a BVI holding company for the existing business in preparation for an overseas initial public offering. Immediately before and after the 2023 Reorganization as described above, Helport together with its subsidiaries were effectively under common control; therefore, the 2023 Reorganization was accounted for as a recapitalization, and thus the current capital structure has been retroactively presented in prior periods as if such structure existed at that time, the entities under common control are presented on a combined and consolidated basis for all periods to which such entities were under common control. The consolidation of Helport Limited and its subsidiaries, has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying combined financial statements.

Reversal Merger

On August 2, 2024 (the “Closing Date”), Helport Limited consummated the transaction pursuant to the First Amendment to the Business Combination Agreement, dated December 18, 2023, (and as may be further amended, collectively “Business Combination Agreement”) with Tristar Acquisition I Corp. (“Tristar”), Merger I Limited, a British Virgin Islands business company and a wholly-owned subsidiary of Helport AI Limited (“the Company” or “PubCo”) (the “First Merger Sub”), Merger II Limited, an exempted company incorporated with limited liability in the Cayman Islands and a wholly-owned subsidiary of PubCo (the “Second Merger Sub”).

The merger was carried out in two steps:

(1)

(2)

Details of the Group’s subsidiaries are as follows:

Name:	Date of incorporation	Place of incorporation	Percentage of direct or indirect ownership	Principal activities

Helport Limited (“Helport”)	June 5, 2023	British Virgin Islands	100%	Holding company
Helport Group Limited (“Helport BVI”)	November 14, 2023	British Virgin Islands	100%	Holding company
Helport Pte. Ltd. (“Helport Singapore”)	September 27, 2020	Singapore	100%	Development of software and applications
Helport AI Inc. (“Helport AI”)	September 15, 2023	United States	100%	Development of software and applications

Subsequent Event (Details)

12 Months Ended

60 Months Ended

73 Months Ended

Jun. 30, 2024

USD ($)

Sep. 30, 2029

USD ($)

Oct. 31, 2030

USD ($)

Oct. 31, 2030

PHP (₱)

Dec. 22, 2023

Jun. 30, 2023

USD ($)

Subsequent Event [Line Items]

Consideration amount | $

$ 355,000,000

Common stock, shares, issued (in Shares)

156

^[1]

156

^[1]

Accounts receivable from customers | $

$ 21,313,735

$ 14,545,921

Accounts receivable percentage

52.81%

Warrants [Member]

Subsequent Event [Line Items]

Warrants issued (in Shares)

18,844,987

Warrants outstanding (in Shares)

18,844,987

Accounts Receivable [Member]

Subsequent Event [Line Items]

Accounts receivable from customers | $

$ 10,057,693

Ordinary Shares [Member]

Subsequent Event [Line Items]

Common stock, shares, issued (in Shares)

37,132,968

Forecast [Member]

Subsequent Event [Line Items]

Rental payment

$ 710,034

$ 59,064

₱ 3,454,080

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

Organization and Principal Activities (Tables)

12 Months Ended

Jun. 30, 2024

Organization and Principal Activities [Abstract]

Schedule of Subsidiaries

Details of the Group’s subsidiaries are as follows:

Name:	Date of incorporation	Place of incorporation	Percentage of direct or indirect ownership	Principal activities

Helport Limited (“Helport”)	June 5, 2023	British Virgin Islands	100%	Holding company
Helport Group Limited (“Helport BVI”)	November 14, 2023	British Virgin Islands	100%	Holding company
Helport Pte. Ltd. (“Helport Singapore”)	September 27, 2020	Singapore	100%	Development of software and applications
Helport AI Inc. (“Helport AI”)	September 15, 2023	United States	100%	Development of software and applications

Concentration

12 Months Ended

Jun. 30, 2024

Concentration [Abstract]

Concentration

12.

Concentration

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of accounts receivable. The Group conducts credit evaluations of its customers, and generally does not require collateral or other security from them. The Group evaluates its collection experience and long outstanding balances to determine the need for an allowance for doubtful accounts. The Group conducts periodic reviews of the financial condition and payment practices of its customers to minimize collection risk on accounts receivable.

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total accounts receivable:

	As of June 30,
	2024			2023
Customer A		35.3	%		47.1	%
Customer B		27.5	%		29.2	%
Total		62.8	%		76.3	%

The following table sets forth a summary of single customer who represent 10% or more of the Group’s total revenue:

	For the years ended June 30,
	2024			2023			2022
Customer A		37.5	%		46.3	%		51.4	%
Customer B		26.9	%		28.4	%		34.0	%
Total		64.4	%		74.7	%		85.4	%

The following table sets forth a summary of single supplier who represent 10% or more of the Group’s total accounts payable:

	As of June 30,
	2024			2023
Supplier A		100.0	%		100.0	%
Total		100.0	%		100.0	%

Intangible Assets, Net (Tables)

12 Months Ended

Jun. 30, 2024

Intangible Assets, Net [Abstract]

Schedule of Intangible Assets, Net

Intangible assets, net, consists of the following:

	As of June 30,
	2024			2023
Software	$	7,695,000		$	7,000,000
Accumulated amortization		(5,269,306	)		(2,916,667	)
Intangible assets, net	$	2,425,694		$	4,083,333

Combined Statements of Operations and Comprehensive Income - USD ($)

12 Months Ended

Jun. 30, 2024

Jun. 30, 2023

Jun. 30, 2022

Income Statement [Abstract]

Revenues

$ 29,575,625

$ 12,728,313

$ 2,667,914

Cost of revenues

(10,998,011)

(4,882,792)

(1,246,701)

Gross profit

18,577,614

7,845,521

1,421,213

Selling expenses

(97,984)

(50,830)

(99,817)

General and administrative expenses

(4,979,382)

(1,625,887)

(340,625)

Research and development expenses

(4,303,490)

(375,410)

Total operating expenses

(9,380,856)

(2,052,127)

(440,442)

Income from operation

9,196,758

5,793,394

980,771

Financial expenses, net

(226,713)

(7,936)

(5,894)

Other income, net

1,007

Income before income tax expense

8,971,052

5,785,458

974,877

Income tax expense

(1,601,933)

(970,755)

(152,917)

Net income

7,369,119

4,814,703

821,960

Total comprehensive income

$ 7,369,119

$ 4,814,703

$ 821,960

Earnings per ordinary share

Basic (in Dollars per share)

$ 47,238

$ 30,863

$ 5,269

Diluted (in Dollars per share)

$ 47,238

$ 30,863

$ 5,269

Weighted average number of ordinary shares outstanding*

Basic (in Shares)

^[1]

156

Diluted (in Shares)

^[1]

156

[1]	The shares and per share information are presented on a retroactive basis to reflect the shares reorganization (Note 10).

Accounts Receivable

12 Months Ended

Jun. 30, 2024

Accounts Receivable [Abstract]

Accounts Receivable

Accounts Receivable

Accounts receivable consists of the following:

	As of June 30,
	2024		2023
Accounts receivable	$	21,313,735	$	14,545,921
Accounts receivable	$	21,313,735	$	14,545,921

Ordinary Shares

12 Months Ended

Jun. 30, 2024

Ordinary Shares [Abstract]

Ordinary Shares

10.

Ordinary Shares

Upon the establishment of Helport Limited on December 22, 2023, Helport Limited issued 156 ordinary shares, par value $1 per share to seven BVI companies, which were wholly-owned by a group of individual shareholders, who were the proportionate former individual shareholders of Helport Singapore before the Reorganization.

As a result of the recapitalization, all share and per share data in the combined financial statements have been retrospectively adjusted to all periods presented.

The subscription receivables present the receivable for the issuance of ordinary shares of Helport Limited and is reported as a deduction of equity and presented on a retroactive basis before the incorporation of Helport Limited. Subscription receivables have no payment terms nor any interest receivables accrual.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

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-SubTopic 40
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
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-Publisher FASB
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-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 505
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Prepaid Expenses and Other Receivables

12 Months Ended

Jun. 30, 2024

Prepaid Expenses and Other Receivables [Abstract]

Prepaid Expenses and Other Receivables

Prepaid Expenses and Other Receivables

Prepaid expenses and other receivables consists of the following:

	As of June 30,
	2024		2023
Prepaid operation expenses	$	27,396	$	-
Deposits		13,198		-
Others		1,372		-
Prepaid expenses and other receivables	$	41,966	$	-