Document And Entity Information	3 Months Ended
Document And Entity Information	Sep. 30, 2025
Document And Entity Information
Document Type	S-1/A
Entity Registrant Name	ATLASCLEAR HOLDINGS, INC.
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001963088
Amendment Flag	true
Amendment Description	AMENDMENT NO. 1

CONSOLIDATED BALANCE SHEETS	Jun. 30, 2025 USD ($)
ASSETS
Cash and cash equivalents	$ 7,533,690
Cash segregated - customers	21,874,954
Cash segregated - PAB	200,575
Receivables - broker-dealers and clearing organizations	4,179,625
Receivables - customers, net of allowance for credit losses of $401,128	320,815
Other receivables	251,099
Prepaids	573,175
Trading securities, market value, net	5
Total Current Assets	34,933,938
Operating lease right to use lease asset	179,267
Customer list, net	12,932,106
Goodwill	6,142,525
Pacsquare asset purchase	1,785,104
Bank acquisition deposit	63,645
Cash deposits - broker-dealers and clearing organizations	4,265,000
Other assets	591,248
TOTAL ASSETS	60,892,833
LIABILITIES AND STOCKHOLDERS' DEFICIT
Payables to customers	23,935,348
Accounts and payables to officers/directors	199,088
Accounts payable and accrued expenses	6,194,311
Payables - broker-dealers and clearing organizations	497,660
Commissions, payroll and payroll taxes	395,214
Current portion of lease liability	111,983
Promissory notes	1,207,797
Current portion of long-term merger financing, net	980,106
Merger financing payable	1,618,575
Tau agreement	539,787
Subscription agreement	2,489,945
Excise tax payable	2,611,618
Total Current Liabilities	41,003,400
Accrued contingent liability	100,000
Long-term secured convertible note, net	8,909,070
Long-term convertible notes, net	718,866
Derivative liability - warrants	123,062
Earnout - liability	11,369,000
Deferred income tax liability	3,366,137
Subordinated borrowings	1,930,000
Trading account deposit	100,000
Long-term lease liability	70,746
TOTAL LIABILITIES	67,690,281
Commitments and Contingencies (Note 9)
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; none issued or outstanding
Common stock, $0.0001 par value; 500,000,000 shares authorized; 126,819,145 and 40,165,602 shares issued and outstanding at September 30, 2025 and June 30, 2025, respectively	4,016
Stock subscription receivable	(41,089)
Additional paid-in-capital	135,763,445
Accumulated Deficit	(142,523,820)
TOTAL STOCKHOLDERS' DEFICIT	(6,797,448)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	60,892,833
Customer list
ASSETS
Intangible assets, net	12,932,106
Developed technology
ASSETS
Intangible assets, net	1,785,104
Merger financing
LIABILITIES AND STOCKHOLDERS' DEFICIT
Derivative liability	63,696
Convertible notes
LIABILITIES AND STOCKHOLDERS' DEFICIT
Derivative liability	103,185
Related Party
LIABILITIES AND STOCKHOLDERS' DEFICIT
Stock payable	$ 55,087

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2024	Jun. 29, 2024	Jun. 30, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for credit losses	$ 401,128	$ 401,128		$ 401,128
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0		0
Preferred stock, shares outstanding	0	0		0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, shares issued	126,819,145	40,165,603		207,585	12,455,157
Common stock, shares outstanding	126,819,145	40,165,603		207,585	12,455,157

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025	Jun. 30, 2025
REVENUES
Commissions	$ 2,334,389	$ 1,383,828	$ 1,750,159		$ 2,679,673			$ 5,937,532
Vetting fees	371,700	365,383	340,050		499,125			1,459,321
Clearing fees	714,349	1,047,712	624,550		756,393			3,165,714
Net gain/(loss) on firm trading accounts	(111)	1,711	6,390		10,046			6,580
Other revenue	830,263	5,448	9,650		56,246			287,465
TOTAL REVENUES	4,250,590	2,804,082	2,730,799		4,001,483			10,856,612
EXPENSES
Compensation, payroll taxes and benefits	3,123,630	1,279,304	1,355,058		2,386,837			6,150,257
Data processing and clearing costs	584,250	611,646	843,824		1,299,527			2,104,107
Regulatory, professional fees and related expenses	250,573	1,095,819	112,216		11,649,470			4,137,631
Stock compensation - founder share transfer					1,462,650
Communications	218,869	152,754	172,018		254,608			650,560
Occupancy and equipment	36,751	54,004	54,765		76,324			211,347
Transfer fees	48,160	51,590	54,807		75,425			210,423
Bank charges	58,718	55,901	52,077		88,253			223,938
Bad debt	40	639			2,474			398,826
Intangible assets amortization	355,795	307,191	337,911		791,375			1,362,446
Other	295,631	136,975	147,042		185,840			324,358
TOTAL EXPENSES	5,127,828	3,745,184	3,129,718	$ 577,313	18,270,309	$ 1,485,122		15,773,893
Loss from operations	(877,238)	(941,102)	(398,919)	(577,313)	(14,268,826)	(1,485,122)		(4,917,281)
OTHER INCOME/(EXPENSE)
Interest income	486,357	606,758	587,637	8,458	1,195,081	8,458		1,996,399
Net gain on settlement				829,853	146,706	829,853
Loss on AtlasClear asset acquisition			(17,845,813)		(86,392,769)
Change in fair value, warrant liability derivative	(61,531)	246,125	307,656	(184,594)		(123,062)		184,594
Change in fair value, convertible note derivative	52,873	(3,167,309)	992,152		3,585,902			(3,990,385)
Change in fair value, long-term and short-term note derivative	103,185	11,152,870	(3,101,057)		(11,208,055)			12,369,120
Change in fair value, contingent guarantee		(839,775)	(3,256,863)		(3,256,863)		$ (839,775)	(839,775)
Change in fair value, non-redemption agreement					(164,626)
Change in fair value, WDCO sellers convertible notes								49,348
Change in fair value, earnout liability	(116,000)	(340,000)	(1,115,000)		(1,335,000)			929,000
Change in fair value, subscription agreement	1,798,624	(34,841)	(4,413,946)		(38,796)			(64,298)
Change in fair value, stock payable		(196,151)			(985,072)			(232,793)
Change in fair value, Tau agreement	(334,549)	833,984						357,435
Extinguishment of accrued expenses			114,199		879,473
Interest expense	(1,434,210)	(1,456,996)	(3,210,786)		(3,732,178)			(8,081,938)
TOTAL OTHER INCOME/(EXPENSE)	283,909	11,710,887	(31,794,347)	1,381,185	(106,507,857)	2,744,170		10,408,193
NET INCOME/(LOSS) BEFORE INCOME TAXES	(593,329)	10,769,785	(32,193,266)	803,872	(120,776,683)	1,259,048		5,490,912
Income tax (expense) benefit	(153,035)	21,752	(563,736)	318,313	(569,736)	581,118		(259,381)
NET INCOME/(LOSS)	$ (440,294)	$ 10,748,033	$ (31,629,530)	$ 485,559	$ (120,206,947)	$ 677,930		$ 5,750,293
Basic weighted average common stock outstanding (in shares)	59,947,249	256,405
Diluted weighted average shares outstanding (in shares)	59,947,249	1,892,470
Basic net income (loss) per share, common stock (in dollars per share)	$ (0.01)	$ 41.92
Diluted net loss per share, common stock (in dollars per share)	$ (0.01)	$ (1.9)
Redeemable Common Stock
OTHER INCOME/(EXPENSE)
Basic weighted average common stock outstanding (in shares)					18,500
Diluted weighted average shares outstanding (in shares)					18,500
Basic net income (loss) per share, common stock (in dollars per share)					$ (609.72)
Diluted net loss per share, common stock (in dollars per share)					$ (609.72)
Non-redeemable Common Stock
OTHER INCOME/(EXPENSE)
Basic weighted average common stock outstanding (in shares)					178,651			5,987,645
Diluted weighted average shares outstanding (in shares)					178,651			5,987,645
Basic net income (loss) per share, common stock (in dollars per share)					$ (696.05)			$ 0.96

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock ATLASCLEAR, INC	Common Stock Pacsquare	Common Stock Merger financing	Common Stock Secured convertible notes	Common Stock	Additional Paid-in Capital ATLASCLEAR, INC	Additional Paid-in Capital Pacsquare	Additional Paid-in Capital Merger financing	Additional Paid-in Capital Secured convertible notes	Additional Paid-in Capital	Subscription Receivable	Accumulated Deficit	ATLASCLEAR, INC	Pacsquare	Merger financing	Secured convertible notes	Tau Agreement	Total
Beginning balance at Dec. 31, 2023					$ 8							$ (11,512,884)						$ (11,512,876)
Beginning balance (in shares) at Dec. 31, 2023					83,854
Stock Compensation Expense - Founder Shares transferred at closing										$ 1,462,650								1,462,650
Founder Shares transferred at closing to non-redemption agreement holders										1,606,279								1,606,279
Founder Shares transferred at closing as consideration for Wilson Davis Acquisition										6,000,000								6,000,000
Founder Shares and warrants transferred to Secured convertible note holders										1,250,698								1,250,698
Shares issued to settle related party advances and promissory notes					$ 3					19,999,800		(15,422,234)						4,577,569
Shares issued to settle related party advances and promissory notes (in shares)					33,333
Common stock no longer subject to redemption										1,195,566								1,195,566
Common stock no longer subject to redemption (in shares)					1,825
Shares issued as purchase consideration for the assets	$ 7	$ 1				$ 44,399,993	$ 1,141,499						$ 44,400,000	$ 1,141,500
Shares issued as purchase consideration for the assets (in shares)	74,000	5,600
Earnout shares granted as purchase consideration for the assets of AtlasClear, Inc.						31,347,000							31,347,000
Accretion of Common Stock subject to Possible Redemption												592,577						592,577
Excise taxes related to redemptions												(539,471)						(539,471)
Shares issued to settled vendor obligations					$ 1					1,459,975								1,459,976
Shares issued to settled vendor obligations (in shares)					5,886
Shares issued as deposit for purchase of the Commercial Bank acquisition										91,200								91,200
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)					667
Shares issued as settlement of accrued interest					$ 1					210,549								210,550
Shares issued as settlement of accrued interest (in shares)					2,420
Net income (loss)												(120,206,947)						(120,206,947)
Ending balance at Jun. 30, 2024					$ 21					110,165,209		(148,274,113)						$ (38,108,883)
Ending balance (in shares) at Jun. 30, 2024					207,585													207,585
Common stock issued to for consulting services										2,578								$ 2,578
Common stock issued to for consulting services (in shares)					200
Shares transferred by related parties as settlement for Company obligations under various financial instruments see Note 8										2,412,930								2,412,930
Shares issued to related party as settlement in related party payable					$ 5					803,855								803,860
Shares issued to related party as settlement in related party payable. (in shares)					46,471
Shares issued to as additional consideration for delayed payment on merger financing notes										16,340								16,340
Shares issued to as additional consideration for delayed payment on merger financing notes (in shares)					1,267
Shares issued to settle related party advances and promissory notes (in shares)																	38,500
Shares issued as purchase consideration for the assets		$ 1					122,299							122,300
Shares issued as purchase consideration for the assets (in shares)		8,333
Shares issued under Tau agreement settled					$ 2					302,998	$ (154,619)							$ 148,381
Shares issued under Tau agreement settled (in shares)					24,092												24,092
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8)					$ 2					(2)
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8) (in shares)					22,292
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)																		1,234,990
Net income (loss)												10,748,033						$ 10,748,033
Ending balance at Sep. 30, 2024					$ 37					114,518,627	(154,619)	(137,526,080)						(23,162,035)
Ending balance (in shares) at Sep. 30, 2024					370,760
Beginning balance at Jun. 30, 2024					$ 21					110,165,209		(148,274,113)						$ (38,108,883)
Beginning balance (in shares) at Jun. 30, 2024					207,585													207,585
Common stock issued to for consulting services					$ 20					44,321								$ 44,341
Common stock issued to for consulting services (in shares)					203,625
Shares issued as conversion in principle on convertible notes			$ 3,493	$ 26	$ 273			$ 14,992,557	$ 509,523	4,574,727					$ 14,996,050	$ 509,549		4,575,000
Shares issued as conversion in principle on convertible notes (in shares)			34,931,855	258,678	2,736,391
Shares transferred by related parties as settlement for Company obligations under various financial instruments see Note 8							$ 2,412,930							$ 2,412,930
Shares issued to related party as settlement in related party payable					$ 5					803,855								803,860
Shares issued to related party as settlement in related party payable. (in shares)					46,471
Shares issued to as additional consideration for delayed payment on merger financing notes										16,340								16,340
Shares issued to as additional consideration for delayed payment on merger financing notes (in shares)					1,267
Shares issued to settle related party advances and promissory notes (in shares)																	1,566,885
Shares issued to settled vendor obligations					$ 1					66,503								66,504
Shares issued to settled vendor obligations (in shares)					11,085
Shares issued under stock promotion agreement					$ 10					19,040								19,050
Shares issued under stock promotion agreement (in shares)					100,000
Shares issued under Tau agreement settled					$ 156					1,911,314	(41,089)							1,870,381
Shares issued under Tau agreement settled (in shares)					1,566,885												1,574,263
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8)					$ 5					(5)
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8) (in shares)					49,574
Shares issued as deposit for purchase of the Commercial Bank acquisition					$ 4					43,641								$ 43,645
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)					36,070													1,234,990
Commitment fee shares settled under the Tau agreement	$ 1					81,191							81,192
Commitment fee shares settled under the Tau agreement (in shares)	7,698
Shares issued as purchase consideration for developed technology	$ 1					$ 122,299							$ 122,300
Shares issued as purchase consideration for developed technology (in shares)	8,333
Rounding up for fractional shares in reverse stock split					86
Net income (loss)												5,750,293						$ 5,750,293
Ending balance at Jun. 30, 2025					$ 4,016					135,763,445	(41,089)	(142,523,820)						$ (6,797,448)
Ending balance (in shares) at Jun. 30, 2025					40,165,603													40,165,603
Shares issued as conversion in principle on convertible notes			$ 1,592	$ 6,394				$ 2,678,845	$ 9,585,256						$ 2,680,437	$ 9,591,650
Shares issued as conversion in principle on convertible notes (in shares)			15,922,008	63,944,332
Stock Compensation Expense - Founder Shares transferred at closing										155,411								$ 155,411
Shares issued to settled vendor obligations					$ 20					39,980								40,000
Shares issued to settled vendor obligations (in shares)					200,000
Net income (loss)												(440,294)						(440,294)
Ending balance at Sep. 30, 2025					$ 12,681					$ 149,848,705	$ (41,089)	$ (142,964,114)						$ 6,856,183
Ending balance (in shares) at Sep. 30, 2025					126,819,145													126,819,145

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical)		3 Months Ended		12 Months Ended
	Dec. 31, 2024	Sep. 30, 2025 USD ($)	Sep. 30, 2024 USD ($)	Jun. 30, 2025 USD ($)
Shares issued to related party			$ 803,860	$ 803,860
Stock split	0.0167
Convertible notes
Conversion amount			325,000	4,580,000
Short-term Merger Financing
Principal amount			359,896	500,000
Interest amount			$ 7,530
Merger financing
Conversion amount		$ 2,680,437		14,990,000
Principal amount				1,439,586
Interest amount				$ 256,091

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income (loss)	$ (440,294)	$ 10,748,033	$ (120,206,947)		$ 5,750,293
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in fair value of warrant liability derivative	61,531	(246,125)		$ 123,062	(184,594)
Change in fair value, convertible note derivative	52,873	(3,167,309)	3,585,904		(3,990,385)
Change in fair value, long-term and short-term note derivative	(103,185)	(11,152,870)	11,208,055		(12,369,120)
Change in fair value, contingent guarantee		839,775	3,256,863		839,775
Change in fair value of non-redemption agreement			164,626
Change in fair value, WDCO sellers convertible notes					(49,348)
Change in fair value, earnout liability	116,000	340,000	1,335,000		(929,000)
Change in fair value, subscription agreement	(1,798,624)	34,841	38,796		64,298
Change in fair value, stock payable		(196,151)	259,893		(232,793)
Change in fair value, Tau agreement	(334,549)	833,984			357,435
Loss on AtlasClear asset acquisition			86,392,769
Fee on sellers notes		16,340			16,340
Interest expense on convertible notes			1,896,714		7,276,092
Transaction costs paid with stock			1,401,937
Stock based compensation	155,411	2,578	1,462,650		83,745
Other non-cash (gain) loss	61,438				693,552
Depreciation expense		4,569	7,565		16,080
Amortization of intangibles	355,795	307,191	791,375		1,362,446
Allowance for bad debt	40	639	2,474		398,826
Net lease payments	9	(249)	114		(2,432)
Interest earned on marketable securities held in Trust Account			(251,569)	(2,028,921)
Changes in operating assets and liabilities:
Marketable securities			6,820
Receivables from brokers & dealers	(9,469,913)	(583,869)	2,203,271		(2,846,319)
Receivables from customers	(660,213)	652,455	(303,486)		104,143
Receivables from others	(1,294)	(57,235)	(59,043)		18,981
Advances and Prepaid expenses	230,526	23,692	133,158	4,194	3,222
Cash deposits with clearing organization & other B/Ds	(750,000)		21,664		(750,000)
Other assets	(37,587)		49,041		(255,231)
Payables to customers	7,377,461	(153,100)	(5,124,740)		3,772,375
Payables to officers & directors	153,448	42,357	98,048		(487,491)
Payable to brokers & dealers	1,237,883	15,323	(12,903)		492,745
Accounts payable and accrued expenses	(920,453)	223,401	(1,066,430)	443,812	1,862,062
Commissions and payroll taxes payable	(8,625)	(51,617)	39,638		121,828
Trading deposits	(1,430)				50
Deferred tax liability	(160,986)	20,959	(43,484)		(315,549)
Net cash provided by (used for) operating activities	(2,500,236)	175,607	(11,212,227)	(785,611)	822,027
Cash Flows from Investing Activities:
Cash withdrawn from Trust Account to pay franchise and income taxes			68,418
Investment of cash into Trust Account			(160,000)	(875,000)
Cash withdrawn from Trust Account in connection with redemption			53,947,064	1,015,001
Cash paid for purchase of Pacsquare	(65,000)	(65,000)	(500,000)		(125,000)
Cash paid for extension of bankcorp agreement					(20,000)
Cash received from acquisition of Wilson-Davis			33,333,876
Cash withdrawn from Trust Account for working capital purposes			1,195,565	148,523,642
Cash paid to Wilson Davis shareholders			(8,092,568)
Net cash used for investing activities	(65,000)	(65,000)	79,792,355	148,663,643	(145,000)
Cash Flows from Financing Activities:
Proceeds from stock issuance		148,383			1,870,381
Proceeds from secured convertible note			6,000,000
Transaction costs financed			5,002,968
Repayment on subordinated debt					(20,000)
Repayment of promissory note	(249,555)				(226,075)
Advances from related party			1,052,300	1,948,950
Redemption of common stock			(53,947,064)	(148,523,642)
Net cash provided by financing activities	5,140,445	148,383	(41,891,796)	(146,874,692)	1,624,306
Net Change in Cash	2,575,209	258,990	26,688,332	1,003,340	2,301,333
Cash at beginning of period	29,609,219	27,307,886	619,554		27,307,886
Cash at end of period	32,184,428	27,566,876	27,307,886	1,132,900	29,609,219
Supplemental cash flow information:
Cash paid for income taxes				537,000
Supplemental disclosure of non-cash investing and financing activities:
Decrease in goodwill due to change in deferred tax liability		1,562,200			1,564,200
Shares issued under Tau agreement		441,524			205,238
Value of shares transferred by related parties to settle obligation		2,412,930			2,412,930
Shares issued to related party for settlement of accounts payable		803,860			803,860
Shares issued for commercial bank acquisition extension					43,645
Initial value of derivative included in merger financing		113,044			113,044
Shares issued for stock payable					27,100
Promissory note issued under insurance premium					489,381
Prepaid stock based compensation					19,050
Shares issued to settled advances from related party and notes payable related party, net of deemed dividend			4,577,569
Transaction cost settled with subscription payable			2,386,851
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition			31,347,000
Fair value of shares issued in AtlasClear, Inc asset acquisition			44,400,000
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition			10,963,000
Fair value of shares transferred to Wilson Davis shareholders			6,000,000
Short term notes issued to Wilson Davis shareholders			5,000,000
Long term notes issued to Wilson Davis shareholders			7,971,197
Initial value of derivative liability on convertible notes			1,668,731
Fair value of shares transferred to Secured convertible note holders			1,250,698
Redeemable shares transferred to permanent equity			1,195,566
Non-redemption agreement re-classed to permanent equity			1,606,279
Shares issued to purchase Pacsquare			1,226,500
Shares issued as deposit for Commercial bank acquisition			91,200
Excise tax related to redemptions			539,471	1,485,236
Accretion of common stock subject to possible redemption			592,577	2,217,201
Accounts payable settled with shares			64,376
Interest settled with shares			210,550
Interest settled with shares transferred by related party			48,750
Cancellation of admin fees				$ 120,000
Initial classification of non-redemption agreement liability			1,668,731
Common stock issued to settled vendor obligations			64,376
Convertible notes
Supplemental disclosure of non-cash investing and financing activities:
Shares issued for conversion					4,575,000
Secured convertible notes
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Fee on sellers notes			1,500,000
Supplemental disclosure of non-cash investing and financing activities:
Shares issued for conversion	9,591,650				509,549
Short-term Merger Financing
Supplemental disclosure of non-cash investing and financing activities:
Shares issued for conversion	1,014,055				5,366,979
Merger financing
Supplemental disclosure of non-cash investing and financing activities:
Shares issued for conversion	$ 1,666,382				1,695,676
Initial value of derivative included in merger financing		113,044
Long-Term Notes
Supplemental disclosure of non-cash investing and financing activities:
Shares issued for conversion					7,933,395
Pacsquare
Supplemental disclosure of non-cash investing and financing activities:
Shares issued to purchase Pacsquare		$ 137,300	$ 1,226,500		$ 77,300

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

AtlasClear Holdings, Inc. (formerly known as Calculator New Pubco, Inc.) (the “Company” or “AtlasClear Holdings”) is a Delaware corporation and, prior to the Business Combination (defined below), was a direct, wholly-owned subsidiary of Quantum FinTech Acquisition Corporation (“Quantum”). Quantum was incorporated in Delaware on October 1, 2020. Quantum was a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.

On February 9, 2024 (the “Closing Date”), the Company consummated the previously announced transactions pursuant to that certain Business Combination Agreement dated November 16, 2022 (as amended, the “Business Combination Agreement”), among the Company, Quantum, Atlas FinTech Holdings Corp. (“Atlas FinTech”) and certain other parties. The transactions consummated as a result of the Business Combination Agreement are hereinafter referred to as the “Business Combination.” In connection with the consummation of the Business Combination (the “Closing”), the Company changed its name from “Calculator New Pubco, Inc.” to “AtlasClear Holdings, Inc.” As a result, the operation history of Quantum survived the merger. Pursuant to the Business Combination Agreement, AtlasClear received certain assets from Atlas FinTech and Atlas Financial Technologies Corp., a Delaware corporation, and completed the acquisition of broker-dealer Wilson-Davis & Co., Inc. (“Wilson-Davis”).

On February 16, 2024, AtlasClear and Pacsquare Technologies, LLC (“Pacsquare”) entered into a Source Code Purchase and Master Services Agreement (the “Pacsquare Purchase Agreement”), pursuant to which AtlasClear purchased a proprietary trading platform with clearing and settlement capabilities that will be developed by Pacsquare, including certain software and source code (the “AtlasClear Platform”).

AtlasClear Holdings’ goal is to build a cutting-edge technology enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking, with evolving and innovative financial products that focus on financial services firms. AtlasClear Holdings is a fintech driven business-to-business platform that expects to power innovation in fintech, investing, and trading.

Wilson-Davis is a securities broker and dealer, dealing in over-the-counter and listed securities. Wilson-Davis is registered with the Securities and Exchange Commission (the “SEC”) and is a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”).

Revenue is derived principally from Wilson-Davis’ operations in three areas: commission revenue, fee revenue and interest revenue.

Wilson-Davis has operations in Utah, Arizona, California, Colorado, Florida, New York, Oklahoma and Texas. Transactions for customers are principally in the states where the Company operates, however, some customers are located in other states in which the Company is registered. Principal trading activities are conducted with other broker dealers throughout the United States.

Reverse Stock Split and Authorized Share Increase

On December 31, 2024, the Company effected a 1-for-60 reverse stock split of its common stock. As a result of the reverse stock split, every 60 shares of the Company’s issued and outstanding common stock were automatically combined into one share of common stock, with any fractional shares rounded up to the nearest whole share. The reverse stock split did not change the par value of the common stock; however, the Company increased the number of authorized shares of its capital stock to 525,000,000 shares, consisting of 500,000,000 shares of common stock, $0.0001 par value per share (“Common Stock”), and 25,000,000 shares of preferred stock, $0.0001 par value per share (“Preferred Stock”).

The reverse stock split has been applied retroactively in the accompanying consolidated financial statements and related disclosures for all periods presented. All share and per-share amounts, including earnings per share (“EPS”), have been adjusted accordingly to reflect the reverse stock split as if it had occurred at the beginning of the earliest period presented.

The impact of the reverse stock split is summarized as follows:

●

The total number of issued and outstanding shares of common stock decreased from 12,455,157 to 207,585 as of June 30, 2024.

●

EPS and other per-share data were adjusted proportionally to reflect the reverse stock split.

●

The reverse stock split had no impact on the Company’s total stockholders’ equity, net income, or overall financial condition.

Management believes that the reverse stock split was necessary to regain compliance with stock exchange listing requirements and improve marketability of the stock.

Liquidity and Going Concern Considerations

As of September 30, 2025, the Company had incurred recurring operating losses and negative cash flows from operations since inception. These conditions, when considered in the aggregate, previously raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued.

Subsequent to September 30, 2025, the Company completed a financing transaction that alleviated this substantial doubt. On October 8, 2025, the Company entered into an amended and restated securities purchase agreement (the “Restated SPA”) with Funicular Funds, LP (“Funicular”), pursuant to which the Company issued and sold, for a purchase price of $10.0 million, an amended and restated secured convertible promissory note (the “Restated Note”) in the principal amount of $10,097,782. The Restated Note amends and restates the Company’s original $6.0 million secured convertible note issued to Funicular in February 2024 (the “Secured Convertible Note”). The Restated Note bears interest at 11% per annum, payable semi-annually in cash or in-kind at the Company’s option, matures on October 8, 2030, and is secured by a perfected security interest in substantially all of the Company’s assets and the assets of its subsidiaries.

In addition, on October 8, 2025, the Company entered into a securities purchase agreement (the “Equity SPA”) with certain institutional investors, including Funicular, pursuant to which the Company issued and sold units (“Units”), each consisting of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $0.75 per share. The Units were sold at $0.60 per Unit for an aggregate sales price of $10 million, including $4.25 million converted from the Convertible Notes (as defined in Note 2 below). The closings of the issuances of the Restated Note and the Units occurred between October 9 and October 14, 2025.

The aggregate gross proceeds from these financings totaled approximately $15.75 million, after giving effect to the conversion of $4.25 million of Convertible Notes, and before deduction of placement agent fees and offering expenses. Management expects that these proceeds, together with projected cash flows from operations, will provide sufficient liquidity to fund the Company’s operations and satisfy its obligations as they become due for at least twelve months following the issuance of these condensed consolidated financial statements.

Accordingly, management has concluded that the conditions that previously raised substantial doubt about the Company’s ability to continue as a going concern have been alleviated as a result of the successful completion of these financing transactions.

Inflation Reduction Act of 2022

Any redemption or other repurchase of the Company’s Common Stock that occurs after December 31, 2022, including in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax payable under the Inflation Reduction Act of 1922. The Company has accrued for the estimated excise tax as a result of the redemptions that occurred after December 31, 2022. As of September 30, 2025 and June 30, 2025 the excise tax payable is $2,673,056 and $2,611,618, respectively. As of the date of filing the Company has not paid the excise tax and, as such, the Company may be subject to interest and penalties.

NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

AtlasClear Holdings, Inc. (formerly known as Calculator New Pubco, Inc.) (the “Company” or “AtlasClear Holdings”) is a Delaware corporation and prior to the Business Combination (defined below), was a direct, wholly-owned subsidiary of Quantum FinTech Acquisition Corporation (“Quantum”). Quantum was incorporated in Delaware on October 1, 2020. Quantum was a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.

On February 9, 2024 (the “Closing Date”), the Company consummated the previously announced transactions pursuant to that certain Business Combination Agreement, dated November 16, 2022 (as amended, the “Business Combination Agreement”), by and among the Company, Quantum, Calculator Merger Sub 1, Inc., a Delaware corporation and a wholly-owned subsidiary of the registrant (“Merger Sub 1”), Calculator Merger Sub 2, Inc., a Delaware corporation and a wholly-owned subsidiary of the registrant (“Merger Sub 2”), AtlasClear, Inc., a Wyoming corporation (“AtlasClear”), Atlas FinTech Holdings Corp., a Delaware corporation (“Atlas FinTech”) and Robert McBey. The transactions consummated as a result of the Business Combination Agreement are hereinafter referred to as the “Business Combination.” In connection with the consummation of the Business Combination (the “Closing”), the Company changed its name from “Calculator New Pubco, Inc.” to “AtlasClear Holdings, Inc.” As a result, the operation history of Quantum survived the merger. Pursuant to the Business Combination Agreement, AtlasClear received certain assets from Atlas FinTech and Atlas Financial Technologies Corp., a Delaware corporation, and the Broker-Dealer Acquisition Agreement (as defined in the Business Combination Agreement), AtlasClear completed the acquisition of broker-dealer, Wilson-Davis & Co., Inc. (“Wilson-Davis”).

On February 16, 2024, AtlasClear and Pacsquare Technologies, LLC (“Pacsquare”) entered into a Source Code Purchase and Master Services Agreement (the “Pacsquare Purchase Agreement”). On June 10, 2025, AtlasClear entered into an amended Software Development and License Agreement with Pacsquare, pursuant to which AtlasClear purchased a proprietary data management platform that was developed by Pacsquare, including certain software and source code (the “AtlasClear Platform”).

AtlasClear Holdings’ goal is to build a cutting-edge technology enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking, with evolving and innovative financial products such as crypto that focus on financial services firms. AtlasClear Holdings is a fintech driven business-to-business platform that expects to power innovation in fintech, investing, and trading.

AtlasClear does not meet the definition of a business and therefore was treated as an asset acquisition by AtlasClear Holdings. As such the assets contributed from Atlas FinTech and the net assets of AtlasClear were recognized at historical cost. ASC 350 prohibits the recognition of goodwill in an asset purchase with related parties.

Quantum was deemed the accounting acquirer based on the following factors: i) Quantum issued cash and shares of its common stock; ii) Quantum controlled the voting rights under the no redemption and the maximum contractual redemption scenarios; iii) Quantum had the largest minority voting interest; iv) Quantum has control over the board of directors of the post-combination company and most of senior management of the post-combination company are former officers of Quantum.

Wilson-Davis is a securities broker and dealer, dealing in over-the-counter and listed securities. Wilson-Davis is registered with the Securities and Exchange Commission (the “SEC”) and is a member of the Financial Industry Regulatory Authority.

Revenue is derived principally from Wilson-Davis’ operations in three areas: commission revenue, fee revenue and interest revenue.

Wilson-Davis has operations in Utah, Arizona, California, Colorado, Florida, New York, Oklahoma and Texas. Transactions for customers are principally in the states where the Company operates, however, some customers are located in other states in which the Company is registered. Principal trading activities are conducted with other broker dealers throughout the United States.

Reverse Stock Split and Authorized Share Increase

On December 31, 2024, the Company effected a 1-for-60 reverse stock split of its common stock. As a result of the reverse stock split, every 60 shares of the Company’s issued and outstanding common stock were automatically combined into one share of common stock, with any fractional shares rounded up to the nearest whole share. The reverse stock split did not change the par value of the common stock however the Company increased the number of authorized shares to 525,000,000 shares, consisting of 500,000,000 shares of Common Stock, $0.0001 par value per share (“Common Stock”), and 25,000,000 shares of Preferred Stock, $0.0001 par value per share (“Preferred Stock”).

The reverse stock split has been applied retroactively in the accompanying consolidated financial statements and related disclosures for all periods presented. All share and per-share amounts, including earnings per share (“EPS”), have been adjusted accordingly to reflect the reverse stock split as if it had occurred at the beginning of the earliest period presented.

The impact of the reverse stock split is summarized as follows:

●

The total number of issued and outstanding shares of common stock decreased from 12,455,157 to 207,585 as of June 30, 2024.

●

Earnings per share and other per-share data were adjusted proportionally to reflect the reverse stock split.

●

The reverse stock split had no impact on the Company’s total stockholders’ equity, net income, or overall financial condition.

Management believes that the reverse stock split was necessary to regain compliance with stock exchange listing requirements and improve marketability of the stock.

Going Concern

As of June 30, 2025, the Company had $29,609,219 in its bank accounts and a working capital deficit of $6,069,462.

The Company has raised and intends to raise additional capital through loans or additional investments from its stockholders, officers, directors, or third parties. The Company’s officers and directors may, but are not obligated to loan the Company funds, from time to time, in whatever amount they deem reasonable in their sole discretion, to meet the Company’s working capital needs.

In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s Accounting Standards Codification Subtopic 205-40, “Presentation of Financial Statements – Going Concern,” the liquidity of the Company raises substantial doubt about the Company’s ability to continue as a going concern through the twelve months following the issuance of the financial statements. If the Company is unable to raise additional capital, it may be required to take additional measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing operations and reducing overhead expenses. The Company cannot provide any assurance that new financing will be available to it on commercially acceptable terms, if at all. No adjustments have been made to the carrying amounts of assets or liabilities as a result of this uncertainty.

Inflation Reduction Act of 2022

On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise tax on certain repurchases of stock by publicly traded U.S. domestic corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations occurring on or after January 1, 2023. The excise tax is imposed on the repurchasing corporation itself, not its shareholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares repurchased at the time of the repurchase. However, for purposes of calculating the excise tax, repurchasing corporations are permitted to net the fair market value of certain new stock issuances against the fair market value of stock repurchases during the same taxable year. In addition, certain exceptions apply to the excise tax. The U.S. Department of the Treasury (the “Treasury”) has been given authority to provide regulations and other guidance to carry out and prevent the abuse or avoidance of the excise tax.

Any redemption or other repurchase that occurs after December 31, 2022, in connection with a Business Combination, extension vote or otherwise, may be subject to the excise tax. As such the Company has accrued for the estimated excise tax as a result of the redemptions that occurred after December 31, 2022. As of June 30, 2025, and June 30, 2024, the excise tax payable is $2,611,618 and $2,067,572, respectively. The June 30, 2025 balance includes $544,046 in penalties due to late filing and non payment of taxes as of June 30, 2025. As of the date of filing the Company has not paid the excise tax and as such the Company may be subject to interest and penalties which have been estimated and accrued.

Transition Period Comparative Data

On August 9, 2024, the board of directors of AtlasClear Holdings, Inc. (the “Company”) determined to change the Company’s fiscal year end from December 31 to June 30. Below is a summary of financial statements for the six-month transition period from January 1, 2024 to June 30, 2024 compared to the six month period ended June 30, 2023.

1.Consolidated Balance Sheets


	June 30,		June 30,
	2024		2023
ASSETS			(Unaudited)
Current assets
Cash and cash equivalents	$	6,558,176	$	1,132,900
Cash segregated - customers		20,548,972		—
Cash segregated - PAB		200,738		—
Receivables - broker-dealers and clearing organizations		1,333,306		—
Receivables - customers, net		823,784		—
Other receivables		64,842		—
Prepaid expenses		67,967		29,458
Trading securities, market value, net		55		—
Due from Atlas Clear		—		49,806
Total Current Assets		29,597,840		1,212,164

Operating lease right to use lease asset		326,336		—
Property and equipment, net		16,080		—
Customer list, net		14,150,856		—
Goodwill		7,706,725		—
Pacsquare asset purchase		1,726,500		—
Bank acquisition deposit		91,200		—
Cash deposits - broker-dealers and clearing organizations		3,515,000		—
Other assets		336,017		—
Marketable securities held in Trust Account		—		57,409,747
TOTAL ASSETS	$	57,466,554	$	58,621,911

LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities
Payables to customers	$	20,162,973	$	—
Accounts and payables to officers/directors		686,579		—
Accounts payable and accrued expenses		5,393,912		5,181,488
Payables - broker-dealers and clearing organizations		4,915		—
Commissions, payroll and payroll taxes		273,386		—
Current portion of lease liability		149,499		—
Stock payable		259,893		—
Convertible notes, net		3,783,437		—
Secured convertible note, net		6,857,101		—
Promissory notes		852,968		—
Short-term merger financing, net		5,092,083		—
Contingent gurantee		3,256,863		—
Subscription agreement		2,425,647		—
Excise tax payable		2,067,572		—
Excise taxes payable		—		1,485,236
Stock payable - related party		55,087		—
Advance from related parties		—		1,968,116
Promissory note – related party		—		480,000
Total Current Liabilities		51,321,915		9,114,840

Accrued contingent liability		100,000		—
Long-term merger financing, net		7,606,561		—
Derivative liability - convertible notes		16,462,690		—
Derivative liability - warrants		307,656		307,656
Earnout - liability		12,298,000		—
Deferred income tax liability		5,245,886		—
Subordinated borrowings		1,950,000		—
Trading account deposit		100,000		—
Long-term lease liability		182,729		—
Total Liabilities		95,575,437		9,422,496

Commitments and Contingencies

Common stock subject to possible redemption		—		57,113,761

Stockholders’ Deficit
Preferred stock, $0.0001 par value;		—		—
Common stock, $0.0001 par value;		1,246		503
Additional paid-in capital		110,164,676		—
Accumulated deficit		(148,274,805)		(7,914,849)
Total Stockholders’ Deficit		(38,108,883)		(7,914,346)
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ DEFICIT	$	57,466,554	$	58,621,911

2.Statements of consolidated Net Income (loss)


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
REVENUES
Commissions	$	1,750,159	$	—	$	2,679,673	$	—
Vetting fees		340,050		—		499,125		—
Clearing fees		624,550		—		756,393		—
Net gain/(loss) on firm trading accounts		6,390		—		10,046		—
Other revenue		9,650		—		56,246		—
TOTAL REVENUES		2,730,799		—		4,001,483		—

EXPENSES
Compensation, payroll taxes and benefits		1,355,058		—		2,386,837		—
Data processing and clearing costs		843,824		—		1,299,527		—
Regulatory, professional fees and related expenses		112,216		—		11,649,470		—
Stock compensation - founder share transfer		—		—		1,462,650		—
Communications		172,018		—		254,608		—
Occupancy and equipment		54,765		—		76,324		—
Transfer fees		54,807		—		75,425		—
Bank charges		52,077		—		88,253		—
Intangible assets amortization		337,911		—		791,375		—
Other		147,042		—		185,840		—
Operating and formation costs		—		577,313		—		1,485,122
TOTAL EXPENSES		3,129,718		577,313		18,270,309		1,485,122

LOSS FROM OPERATIONS		(398,919)		(577,313)		(14,268,826)		(1,485,122)

OTHER INCOME/(EXPENSE)
Interest income		587,637		8,458		938,802		8,458
Interest earned on marketable securities held in Trust Account		—		727,468		256,279		2,028,921
Gain on sale of assets		146,706		—		146,706		—
Net gain on settlement		—		829,853		—		829,853
Loss on AtlasClear asset acquisition		(17,845,813)		—		(86,392,769)		—
Change in fair value of warrant liability derivative		307,656		(184,594)		—		(123,062)
Change in fair value, convertible note derivative		(992,152)		—		(3,585,902)		—
Change in fair value, long-term and short-term note derivative		(3,101,057)		—		(11,208,055)		—
Change in fair value of non-redemption agreement		—		—		(164,626)		—
Change in fair value of Contingent guarantee		(3,256,863)		—		(3,256,863)		—
Change in fair value of earnout liability		(1,115,000)		—		(1,335,000)		—
Change in fair value of subscription agreement		(4,413,946)		—		(38,796)		—
Extinguishment of stock payable		985,072		—		985,072		—
Extinguishment of accrued expenses		114,199		—		879,473		—
Interest expense		(3,210,786)		—		(3,732,178)		—
TOTAL OTHER INCOME/(EXPENSE)		(31,794,347)		1,381,185		(106,507,857)		2,744,170

Income before provision for income taxes		(32,193,266)		803,872		(120,776,683)		1,259,048
Provision for income taxes		563,736		(318,313)		569,736		(581,118)
Net income	$	(31,629,530)	$	485,559	$	(120,206,947)	$	677,930

3.Statements of consolidated cash flow


	Six Months Ended June 30,
	2024		2023

Cash Flows from Operating Activities:
Net income (loss)	$	(120,206,947)	$	677,930
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in fair value of warrant liability derivative		—		123,062
Change in fair value of non-redemption agreement		164,626		—
Loss on AtlsClear asset acquisition		86,392,769		—
Change in fair value, convertible note derivative		3,585,904		—
Change in fair value, long-term and short-term note derivative		11,208,055		—
Interest expense on convertible notes		1,896,714		—
Transaction costs paid with stock		1,401,937		—
Stock based compensation		1,462,650		—
Change in fair value, earnout liability		1,335,000		—
Fee on Secured convertible note		1,500,000		—
Change in operating lease expense		68,727		—
Change in fair value, contingent guarantee		3,256,863		—
Interest earned on marketable securities held in Trust Account		(251,569)		(2,028,921)
Change in fair value, subscription agreement		38,796		—
Depreciation expense		7,565		—
Amortization of intangibles		791,375		—
Bad debt expense		2,474		—
Changes in operating assets and liabilities:
Due from Atlas Clear		—		(49,806)
Income taxes payable		—		44,118
Marketable securities		6,820		—
Receivables from brokers & dealers		2,203,271		—
Receivables from customers		(303,486)		—
Receivables from others		(59,043)		—
Advances and Prepaid expenses		133,158		4,194
Cash deposits with clearing organization & other B/Ds		21,664		—
Change in operating lease right-of-use assets		(11,713)		—
Other assets		49,041		—
Payables to customers		(5,124,740)		—
Payables to officers & directors		98,048		—
Payable to brokers & dealers		(12,903)		—
Deferred tax liability		(43,484)		—
Accounts payable and accrued expenses		(1,066,430)		443,812
Commissions and payroll taxes payable		39,638		—
Stock Loan		259,893		—
Change in operatin lease right-of-use asset		(56,900)		—
Receivables from brokers & dealers		—		—
Receivables from customers		—		—
Net cash provided by (used in) operating activities		(11,212,227)		(785,611)

Cash Flows from Investing Activities:
Cash withdrawn from Trust Account to pay franchise and income taxes		68,418		—
Investment of cash into Trust Account		(160,000)		(875,000)
Cash withdrawn from Trust Account in connection with redemption		53,947,064		1,015,001
Cash paid for purchase of Pacsquare		(500,000)		—
Cash received from acquisition of Wilson-Davis		33,333,876		—
Cash withdrawn from Trust Account for working capital purposes		1,195,565		148,523,642
Cash paid to Wilson Davis shareholders		(8,092,568)		—
Net cash provided by (used in) investing activities		79,792,355		148,663,643

Cash Flows from Financing Activities:
Proceeds from secured convertible note		6,000,000		—
Transaction costs financed		5,002,968		—
Repayment of advances from related party		—		(300,000)
Advances from related party		1,052,300		1,948,950
Redemption of common stock		(53,947,064)		(148,523,642)
Net cash provided by (used in) financing activities		(41,891,796)		(146,874,692)

Net Change in Cash		26,688,332		1,003,340
Cash – Beginning		619,554		129,560
Cash – Ending	$	27,307,886	$	1,132,900

Supplementary cash flow information:
Cash paid for income taxes	$	—	$	537,000

Supplemental disclosure of non-cash investing and financing activities:
Shares issued to settled advances from related party and notes payable related party	$	4,577,569	$	—
Transaction cost settled with subscription payable	$	2,386,851	$	—
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition	$	31,347,000	$	—
Fair value of shares issued in AtlasClear, Inc asset acquisition	$	44,400,000	$	—
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition	$	10,963,000	$	—
Fair value of shares transferred to Wilson Davis shareholders	$	6,000,000	$	—
Short term notes issued to Wilson Davis shareholders	$	5,000,000	$	—
Long term notes issued to Wilson Davis shareholders	$	7,971,197	$	—
Common stock issued to settled vendor obligations	$	64,376	$	—
Fair value of shares transferred to Secured convertible note holders	$	1,250,698	$	—
Redeemable shares transferred to permanent equity	$	1,195,566	$	—
Non-redemption agreement re-classed to permanent equity	$	1,606,279	$	—
Shares issued to purchase Pacsquare	$	1,226,500	$	—
Shares issued as deposit for Commercial bank acquisition	$	91,200	$	—
Initial Classification of derivative liability – convertible notes	$	1,668,731	$	—
Interes settled with shares	$	210,550	$	—
Interest settled with shares transferred by related party	$	48,750	$	—
Cancellation of admin fees	$	—	$	120,000
Excise tax related to redemptions	$	539,471	$	1,485,236
Accretion of common stock subject to possible redemption	$	592,577	$	2,217,201

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K/A, as filed with the SEC on September 30, 2025. The accompanying condensed balance sheet as of June 30, 2025

has been derived from the audited financial statements included in the Form 10-K/A. The interim results for the three months ended September 30, 2025 are not necessarily indicative of the results to be expected for the year ending June 30, 2026 or for any future periods.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Impairment of Long-lived and Intangible Assets

The Company had no impairment charges during the three-month periods ended September 30, 2025 and 2024.

Net (Loss) Income per Common Stock

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net (loss) income per share of common stock is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding for the period.

The calculation of diluted net (loss) income per share does not consider the effect of the warrants issued and outstanding. For the three months ended September 30, 2025 and 2024, the calculation excludes the dilutive impact of warrants because none would be issued under the treasury method. For the three months ended September 30, 2025, the dilutive shares were excluded as including them would be antidilutive. For the three months ended September 30, 2024, the convertible financial instrument and other share obligations were included in the dilutive calculation under the as converted method, as such the number of shares were included as if the shares were issued on July 1, 2024 and the interest expense and the change in fair value associated with the financial instruments was adjusted from net income to determine the numerator and denominator.

The following table reflects the calculation of basic net (loss) income per share of common stock (in dollars, except share amounts):


	Three Months Ended		Three Months Ended
	September 30, 2025		September 30, 2024
Basic net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Denominator:
Basic weighted average common stock outstanding		59,947,249		256,405
Basic net (loss) income per common stock	$	(0.01)	$	41.92

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	Three Months Ended-		Three Months Ended-
	September 30, 2025		September 30, 2024
Diluted net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Change in fair value of financial instruments		—		(12,655,000)
Interest on dilutive instruments		—		1,419,843
Allocation of net (loss) income, as adjusted	$	(440,294)	$	(487,124)
Denominator:
Dilutive weighted average common stock outstanding		59,947,249		256,405
If converted shares		—		1,636,065
		59,947,249		1,892,470
Diluted net (loss) income per common stock	$	(0.01)	$	(1.90)

Below is a summary of the potentially dilutive instruments as of September 30, 2025 and 2024:


Description	September 30, 2025	September 30, 2024
Short Term Notes	—	817,513
Convertible notes - Chardan	—	321,066
Secured convertible note	670,307	436,705
Subscription agreement	1,195,986	46,978
Tau agreement	—	20,892
Stock payable	—	4,167
Debenture	3,888,887	—
Stock Based Compensation	1,973,684	—
Promissory note	576,616	5,691
Total Shares issuable under Convertible Note obligations – if converted total dilutive	8,305,480	1,653,012

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625

During the three months period ended September 30, 2025, the Company issued convertible promissory notes (the “Convertible Notes”) with an aggregate principal amount of $6,000,000. Under the terms of the Convertible Notes, if not sooner repaid, all outstanding principal and accrued but unpaid interest was to automatically convert, at the election of the holder, into shares of the same class of equity securities issued in the Company’s next qualified equity financing (“Qualified Financing”). A Qualified Financing was defined as the issuance and sale of the Company’s capital stock resulting in gross proceeds of at least $10.0 million, excluding any indebtedness converted in such financing.

Upon a Qualified Financing, the Convertible Notes were convertible into that number of shares of equity securities equal to (x) the outstanding principal and accrued interest divided by (y) the price per share of the equity securities issued in the Qualified Financing, and otherwise on the same terms as those securities.

As of September 30, 2025, no Qualified Financing had occurred, and therefore no shares were issuable or outstanding related to the Convertible Notes. The conversion feature represents a contingent right to receive shares upon a future event. Accordingly, shares issuable upon conversion of the Convertible Notes have been excluded from the computation of diluted net loss per share because the contingency had not been satisfied as of the reporting date. In October 2025, upon the consummation of the transactions contemplated by the Equity SPA, $4.25 million payable by the Company under the Convertible Notes was converted into Units, and the remaining balance of the Convertible Notes was paid in full.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Coverage of $250,000. The Company has not experienced losses on these accounts. The Company’s cash is deposited at two financial institutions. At September 30, 2025, the Company had no amounts in excess of the FDIC limit.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for warrant liabilities, convertible notes derivative liability and the earnout out liability (see Note 12).

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments

should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Recent Accounting Standards

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

On August 9, 2024, the Company changed its fiscal year-end from December 31 to June 30. As a result, the prior year reflects a transition period of six months, from January 1, 2024, to June 30, 2024, as previously reported in our Form 10-KT filed with the SEC on October 16, 2024.

The current fiscal year covers the twelve-month period from July 1, 2024, to June 30, 2025. As such, the periods presented in this Form 10-K are not directly comparable due to the difference in reporting periods.

Where appropriate, we have included supplemental unaudited pro forma information and comparative commentary to aid in understanding period-over-period performance trends.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. The more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the private warrant liabilities, the fair value of the Subscription Agreement, the fair value of the derivatives included in the convertible notes, the secured convertible note, the merger financing, the short-term merger financing, the long-term merger financing, the fair value of the earnout liability, realization of deferred tax assets and the useful life of its intangible assets. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all operating accounts that hold money market funds held and short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

Trading Securities

Securities held in the Company’s trading account and trading securities sold not yet purchased, consist primarily of over-the-counter securities and are valued based upon quoted market prices. The value of securities that are not readily marketable are estimated by management based upon quoted prices, the number of market makers, trading volume and number of shares held. Unrealized gains and losses are reflected in income in the financial statements.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation on property and equipment is provided using accelerated and straight-line methods over expected useful lives of three to seven years.

Leases

The Company leases office space under the terms of several operating leases. The determination of whether an arrangement is a lease is made at the lease’s inception. Under ASC 842, a contract is (or contains) a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined under the standard as having both the right to obtain substantially all of the economic benefits from use of the asset and the right to direct the use of the asset. Management only reassesses its determination if the terms and conditions of the contract are changed.

Right-of-use assets (“ROU assets”) represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses the implicit rate when it is readily determinable. Since the Company’s leases do not provide implicit rates, to determine the present value of lease payments, management uses the Company’s estimated incremental borrowing rate based on the information available at lease commencement.

Goodwill

Goodwill represents the excess of purchase price in a business combination over the fair value of the net identifiable assets acquired. The Company evaluated goodwill for impairment at the reporting unit level by assessing whether it is more likely than not that the fair value of a reporting unit exceeds its carrying value. If this assessment concludes that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, then goodwill is not considered impaired and no further impairment testing is required. Conversely, if the assessment concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, a goodwill impairment test is performed to compare the fair value of the reporting unit to its carrying value. The Company determines fair value of the reporting unit using income models. The models contain significant assumptions and accounting estimates about discount rates, future cash flows, that could materially affect operating results or financial position if they were to change significantly in the future and could result in an impairment. The Company perform our goodwill impairment assessment whenever events or changes in facts or circumstances indicate that impairment may exist and during the fourth quarter each year. The cash flow estimates and discount rates incorporate management’s best estimates, using appropriate and customary assumptions and projections at the date of evaluation. As of June 30, 2025 and 2024, the carrying value of goodwill was $6,142,525 and $7,706,725, respectively, as described in Note 10.

Intangible Assets

Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets comprise of developed technology and customer relationships (See Note 10 and 12). Developed technology and customer list are amortized using the straight-line method over the ten-year and twelve-year estimated useful lives of the assets, respectively. As of June 30, 2025 and 2024, the carrying value of developed technology was $1,785,104 and $1,726,500, respectively. The carrying value of customer list was $12,932,106 and $14,150,856, respectively, as described in Note 10 and Note 12.

Impairment of Long-lived and Intangible Assets

In accordance with ASC 360-10 Property Plant and Equipment and ASC 350-10 Intangibles, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on the appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. The Company had no impairment charges during the year ended June 30, 2025. The Company recorded $17,845,813 of impairment charges included in loss on AtlasClear asset acquisition during the period ended June 30, 2024.

Warrant Liabilities

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants that do not meet all the criteria for equity classification are recognized as a non-cash gain or loss on the consolidated statements of operations. The fair value of the private warrants was estimated using a Black-Scholes model approach (see Note 17).

Income Taxes

The Company utilizes the asset and liability method to account for income taxes. The objective of this method is to establish deferred tax assets and liabilities for the temporary differences between net income for financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized.

Income tax expense or benefit is provided based upon the financial statement earnings of the Company. The allowance for doubtful accounts is deductible for financial statement purposes, but not for tax purposes. Depreciation expense is recognized in different periods for tax and financial accounting purposes due to the use of accelerated depreciation methods for income tax purposes. The tax effects of such differences are reported as deferred income taxes in the financial statements.

Revenue Recognition

Wilson-Davis, a subsidiary of the Company, recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, using the modified retrospective method. This revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to: (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when the entity satisfies a performance obligation.

Wilson-Davis acts as an agent by selling securities to customers and collecting commissions. Wilson-Davis recognizes commissions on a trade date basis, which is the day the transaction is executed. Wilson-Davis believes that the performance obligation is satisfied on the trade date because that is when the security is selected, the price is determined, the trade is executed, and the risks and rewards of ownership have been transferred to/from the customer.

Wilson-Davis also receives commissions on mutual funds purchased by customers. Wilson-Davis believes that the performance obligation is not satisfied until the mutual funds are purchased by customers and recognizes the commission revenue upon receipt from fund.

Wilson-Davis performs vetting services to customers that wish to convert restricted stock to eligible trading stock. In addition, Wilson-Davis charges clearing fees to another broker-dealer for which it clears trades. Wilson-Davis recognizes revenue as the related performance obligations are satisfied.

Wilson-Davis charges customers for wires and transfer agent fees. The customer is also charged for blue sheet fees, corporate actions, and ACATS fees. Wilson-Davis recognizes revenue as the related performance obligations are satisfied.

Wilson-Davis performs underwriting services for companies going public. The Company enters into an agreement detailing the services to be performed. The Company recognizes revenue when the shares of stock have been delivered and wire payments have been processed.

Wilson-Davis earns interest on its balances with its financial institution. Wilson-Davis recognizes the interest income at month end when the income ha been earned.

Net Income (Loss) per Common Stock

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period. Income (loss) is allocated between redeemable and non-redeemable shares based on relative amounts of weighted average shares outstanding. Accretion associated with the redeemable shares of common stock is excluded from income (loss) per share as the redemption value approximates fair value.

The calculation of diluted net income (loss) per share does not consider the effect of the warrants issued and outstanding. For the year ended June 30, 2025 and the transition period ended June 30, 2024, the calculation excludes the dilutive impact of warrants because none would be issued under treasury method as the warrants exercise price is greater than the current price of the stock. For the transition period ended June 30, 2024, the dilutive shares were excluded as including them would be antidilutive. For the year ended June 30, 2025, the convertible financial instrument and other share obligations were included in the dilutive calculation under the as converted method, as such the number of shares were included as if the shares were issued on July 1, 2024 and the interest expense and the change in fair value associated with the financial instruments was adjusted from net income to determine the numerator and denominator.

The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	Redeemable		Redeemable		redeemable
Basic and diluted net income (loss) per share of Common Stock
Numerator:
Net income (loss)	$	5,750,820	$	(11,279,605)	$	(108,927,342)
Deemed dividend		—		—		(15,422,431)
Allocation of net income (loss)	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Denominator:
Basic and diluted weighted average shares outstanding		5,987,645		18,500		178,651
Basic net income (loss) per share of Common Stock	$	0.96	$	(609.72)	$	(696.05)

For the year ended June 30, 2025 and for the transition perioded ended June 30, 2024 the diluted net income (loss) per share of common stock was excluded as including them would result in anti-dilution.

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	redeemable		Redeemable		redeemable
Diluted net income (loss) per common stock
Numerator:
Allocation of net income (loss),	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Change in fair value of financial instruments		(15,147,345)		—		—
Interest on dilutive instruments		7,148,116		—		—
Allocation of net income (loss), as adjusted	$	(2,248,409)	$	(11,279,605)	$	(124,349,773)
Denominator:
Dilutive weighted average common stock outstanding		5,987,645		18,500		178,651
If converted shares		—		—		—
		5,987,645		18,500		178,651
Diluted net income (loss) per common stock	$	(0.38)	$	(609.72)	$	(696.05)

For the year ended June 30, 2025, the numerator is adjusted for the interest expenses and other components to include the effect of the convertible securities under the as converted method at the beginning of the period. The adjustment to the numerator resulted in a net loss position. As such including the effect of convertible securities in a loss situation would make the loss per share smaller, which is misleading and considered antidilutive under U.S. GAAP. For the transition period ended June 30, 2024 the diluted net income (loss) per share of common stock was excluded as including them would result in anti-dilution.

Below is a summary of the dilutive instruments as of June 30, 2025 and 2024:


Description	June 30, 2025	June 30, 2024
Sellers Notes	15,103,895	14,012,965
Convertible notes	5,317,252	4,722,875
Secured convertible note	49,230,040	9,801,273
Subscription agreement	4,354,048	938,967
Tau agreement	35,282	—
Promissory note	6,215	379,375
Total Shares issuable under Convertible Note obligations – if converted total dilutive	74,046,732	29,855,455

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Coverage of $250,000. The Company has not experienced losses on these accounts. The Company’s cash is deposited at two financial institutions. At June 30, 2025, the Company had approximately $7,278,320 in excess of the FDIC limit.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for warrant liabilities, convertible notes derivative liability and the earnout out liability (see Note 17).

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Risk Management

Transactions involving financial instruments involve varying degrees of market, credit and operating risk. The Company monitors its exposure to risk on a daily basis.

Market Risk

Market risk is the potential change in value of the financial instrument caused by unfavorable changes in interest rates and equity prices. Management is responsible for reviewing trading positions, exposure limits, profits and losses, and trading strategies. In the normal course of business, the Company purchases, and makes markets in non-investment grade securities. These activities expose the Company to a higher degree of market risk than is associated with investing or trading in investment grade instruments.

Operating Risk

Operating risk focuses on the Company’s ability to accumulate, process and communicate information necessary to conduct its daily operations. Deficiencies in technology, financial systems and controls and losses attributable to operational problems all pose potential operating risks. In order to mitigate these risks, the Company has established and maintains an internal control environment which incorporates various control mechanisms throughout the organization. In addition, the Company periodically monitors its technological needs and makes changes as deemed appropriate.

Credit Risk

Wilson-Davis’s transactions with customers and other broker dealers are recorded on a trade date basis and are collateralized by the underlying securities. Wilson-Davis’s exposure to credit risk associated with nonperformance by customers or contra brokers is impacted by volatile or illiquid trading markets. Should either the customers or other broker dealers fail to perform, Wilson-Davis may be required to complete the transactions at prevailing market prices. Wilson-Davis manages credit risk by monitoring net exposure to individual counterparties on a regular basis. Historically, reserve requirements arising from instruments with off-balance sheet risk have not been material.

Receivables and payables with clearing and other broker dealers are generally collateralized by cash deposits. Additional cash deposits are requested when considered necessary by the clearing organization or contra broker dealer.

Customer transactions are primarily entered in cash accounts. Wilson-Davis maintains a few customer margin accounts which exposes the company to credit and market risks. However, this risk is minimized by Wilson-Davis requirement that margin accounts must maintain at least a 4:1 ratio of securities to margin obligations.

Concentrations of credit risk that arise from financial instruments (whether on or off-balance sheet) exist for groups of counterparties when they have similar economic characteristics that would cause their ability to meet obligations to be similarly affected by economic, industry or geographic factors.

Recent Accounting Standards

Beginning in 2025 annual reporting, the Company adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) that was issued by the Financial Accounting Standards Board (FASB). This new standard requires an enhanced disclosure of significant segment expenses on an annual basis. Management has determined that there is only one reportable operating segment. The segment information aligns with how the Company’s Chief Operating Decision Maker (“CODM”) reviews and manages our business. The Company’s CODM is the Company’s Chief Executive Officer who reviews the assets, operating results, and financial metrics for the company.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): “Improvements to Income Tax Disclosures” (“ASU 2023-09”), which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. ASU 2023-09 will become effective for annual periods beginning after December 15, 2024. The Company is still reviewing the impact of ASU 2023-09. We are currently evaluating the provisions of this.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures, a new standard to expand disclosures about income statement expenses. The guidance requires disaggregation of certain costs and expenses included in each relevant expense caption on the income statements in a separate note to the financial statements at each interim and annual reporting period, including amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The standard will be effective for annual periods beginning after December 15, 2027. We are currently evaluating the provision of this ASU.

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS

CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS

NOTE 3. CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS

Wilson-Davis is required by Rule 15c3-3 of the SEC to maintain a cash reserve with respect to customers’ transactions and credit balances, on a settlement date basis. Such a reserve is computed weekly using a formula provided by the rule, and the reserve account must be separate from all other bank accounts of Wilson-Davis. The required reserve as of September 30, 2025 and June 30, 2025, was calculated to be $29,793,711 and $20,890,603, respectively. As of such dates, Wilson-Davis had $29,189,001 and $21,175,129, respectively, cash which was $604,710 less than and $284,526 more than the amount required, respectively. On October 1, 2025, Wilson-Davis deposited $1,200,000 into the reserve account in accordance with the rule, which resulted in an excess of $595,291.

Wilson-Davis is also required by Rule 15c3-3 of the SEC to maintain a cash reserve with respect to broker-dealer transactions and credit balances. Such a reserve is computed weekly using a formula provided by the rule, and the reserve account must be separate from all other bank accounts of Wilson-Davis. The required reserve as of each of September 30, 2025 and June 30, 2025 was calculated to be $100,000. As of September 30, 2025 and June 30, 2025, Wilson-Davis had $200,563 and $200,575, respectively, cash on deposit in the reserve account, which was $100,563 and $100,575, respectively, more than the amount required.

NOTE 3. CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS

The Wilson-Davis is required by Rule 15c3-3 of the Securities and Exchange Commission to maintain a cash reserve with respect to customers’ transactions and credit balances, on a settlement date basis. Such a reserve is computed weekly using a formula provided by the rule and the reserve account must be separate from all other bank accounts of Wilson-Davis. The required reserve as of June 30, 2025 and 2024, was calculated to be $20,890,603 and $19,326,300, respectively. Wilson-Davis had $21,175,129 and $19,677,378, respectively, cash on deposit in the reserve account, which was $284,526 and $351,078, respectively, more than the amount required. On July 1, 2025, Wilson-Davis deposited $225,000 to the reserve account in accordance with the rule which resulted in an excess of $509,526.

Wilson-Davis is required by Rule 15c3-3 of the Securities and Exchange Commission to maintain a cash reserve with respect to broker-dealer transactions and credit balances. Such a reserve is computed weekly using a formula provided by the rule and the reserve account must be separate from all other bank accounts of Wilson-Davis. The required reserve as of June 30, 2025 and 2024, was calculated to be $100,000. As of June 30, 2025 and 2024, Wilson-Davis had $200,575 and $200,738, respectively, cash on deposit in the reserve account, which was $100,575 and $100,738, respectively, more than the amount required.

NET CAPITAL REQUIREMENTS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

NET CAPITAL REQUIREMENTS

NET CAPITAL REQUIREMENTS

NOTE 4. NET CAPITAL REQUIREMENTS

As a broker-dealer, Wilson-Davis is subject to the uniform net capital rule adopted and administered by the SEC. The rule requires maintenance of minimum net capital and prohibits a broker-dealer from engaging in securities transactions at a time when its net capital falls below minimum requirements, as those terms are defined by the rule. Under the alternative method permitted by this rule, net capital shall not be less than the greater of $250,000 or 2% of aggregate debit items arising from customer transactions, as defined. Also, Wilson-Davis has a minimum requirement based upon the number of securities markets that it maintains. On September 30, 2025 and June 30, 2025, Wilson-Davis’s net capital was $12,281,941 and $11,190,362, respectively, which was $12,031,941 and $10,940,362, respectively, in excess of the minimum required.

NOTE 4. NET CAPITAL REQUIREMENTS

As a broker dealer, Wilson-Davis is subject to the uniform net capital rule adopted and administered by the Securities and Exchange Commission. The rule requires maintenance of minimum net capital and prohibits a broker dealer from engaging in securities transactions at a time when its net capital falls below minimum requirements, as those terms are defined by the rule. Under the alternative method permitted by this rule, net capital shall not be less than the greater of $250,000 or 2% of aggregate debit items arising from customer transactions, as defined. Also, the Wilson-Davis has a minimum requirement based upon the number of securities’ markets that the Company maintains. At June 30, 2025 and 2024, the Company’s net capital was $11,190,362 and $10,437,312, respectively which was $10,940,362 and $10,187,312, respectively in excess of the minimum required.

CASH AND RESTRICTED CASH

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

CASH AND RESTRICTED CASH

CASH AND RESTRICTED CASH

NOTE 5 – CASH AND RESTRICTED CASH

Reconciliation of cash and restricted cash as shown in the condensed statements of cash flows is presented in the table below:


	September 30, 2025		June 30, 2025
Cash and cash equivalents	$	2,692,063	$	7,533,690
Cash segregated - customers		29,291,802		21,874,954
Cash segregated - PAB		200,563		200,575
Total cash and restricted cash shown in the statement of cash flows.	$	32,184,428	$	29,609,219

NOTE 5 – CASH AND RESTRICTED CASH

Reconciliation of cash and restricted cash as shown in the statements of cash flows is presented in the table below:


	June 30, 2025		June 30, 2024
Cash and cash equivalents	$	7,533,690	$	6,558,176
Cash segregated - customers		21,874,954		20,548,972
Cash segregated - PAB		200,575		200,738
Total cash and restricted cash shown in the statement of cash flows.	$	29,609,219	$	27,307,886

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

12 Months Ended

Jun. 30, 2025

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

NOTE 6 – RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

Amounts receivable and payable with broker dealers and the clearing organization include:


	June 30, 2025		June 30, 2024
Due from clearing organizations, net	$	4,021,151	$	1,094,453
Fails to deliver and receive		158,474		238,853
Total receivables	$	4,179,625	$	1,333,306

Due from clearing organizations, net	$	481,006	$	3,003
Fails to deliver and receive		16,654		1,912
Total payables	$	497,660	$	4,915

No losses were recognized on the receivables from broker dealers or clearing organizations during the year ended June 30, 2025 or during the transition period ended June 30, 2024.

Accounts receivable from and payable to customers at June 30, 2025, include cash and margin accounts. Securities owned by customers are held as collateral for any unpaid amounts. Such collateral is not reflected in the financial statements. The Company provides an allowance for credit losses, as needed, for accounts in which collection is uncertain. Management periodically evaluates each account on a case-by-case basis to determine impairment. Accounts that are deemed uncollectible are written off to bad debt expense. Bad debt expense net of bad debt recoveries and trading error adjustments for the year ended June 30, 2025 was $396,826, and for the transition

period ended June 30, 2024 was $15,000.

PROPERTY AND EQUIPMENT

12 Months Ended

Jun. 30, 2025

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

Depreciation expense for the year ended June 30, 2025, was $16,080 and for the transition period ended June 30, 2024 was $7,565. The Company acquired the below on February 9, 2024, in connection with the closing of the business combination with Wilson-Davis, see Note 11 for further detail. Property and equipment are summarized by major classifications as follows:


	June 30, 2025		June 30, 2024
Equipment	$	150,202	$	150,202
Leasehold improvements		89,087		89,087
Software		85,042		85,042
Furniture and fixtures		51,717		51,717
		376,048		376,048
Less: Accumulated depreciation and Amortization		(376,048)		(359,968)
	$	—	$	16,080

RELATED PARTY TRANSACTIONS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 6. RELATED PARTY TRANSACTIONS

Related Party Share Issuance/Transfers

During the month of July 2024, Quantum Ventures LLC (“Quantum Ventures” or the “Sponsor”) and AtlasFinTech transferred 25,982 and 16,528 shares, respectively, for total contributed shares of 42,510 shares recorded as contributed capital for $2,412,930 to various debt holders as described below. The Company recorded contributed capital for the value of the liabilities settled with their personal shareholdings. The contributed capital recognized was $21,299 in interest paid in shares for promissory notes, $217,397 in interest for Secured Convertible Note, $400,000 of principal under a convertible note (the “Chardan Note”) payable to Chardan Capital Markets LLC (“Chardan”) along with $212,803 in interest paid for the Chardan Note, $351,141 in interest for short and long term Notes and $1,210,290 for payment under contingent obligation to Wilson-Davis sellers.

On August 9, 2024, the Company entered into a Satisfaction of Discharge of Indebtedness Agreement with Atlas FinTech. Pursuant to the agreement, the Company issued 46,471 shares of Common Stock in satisfaction of $803,860 included in accounts payable. In addition, the Company issued 22,292 shares of Common Stock as reimbursement for shares that were transferred by AtlasFinTech, as described above, to satisfy the Company’s requirements to pay interest on various loans with unrestricted shares. As such, a total of 68,763 shares of Common Stock were transferred to Atlas FinTech in satisfaction.

Advances from Related Parties

On May 9, 2024, Quantum Ventures, a related party, transferred 935 shares of Common Stock to pay for the $47,750 of interest in connection with the Short-Term Notes (as defined in Note 8 below). The shares are to be reimbursed applying at a 13% interest, as such a payable of $55,087 is due and payable to Quantum Ventures.

During the three months ended September 30, 2025, $5,000 was advanced by the Executive Chairman to the Company to cover vendor obligations. As of September 30, 2025, amounts due to the Executive Chairman is $20,000.

During the three months ended September 30, 2025 $7,300 was advanced by the President to the Company to cover vendor obligations. As of September 30, 2025, amounts due to the President is $27,300.

On July 17, 2025, the Company issued 800,000 shares of Common Stock to Sandip I. Patel, P.A., a law firm that is wholly owned by Sandip I. Patel, the Company’s General Counsel, Chief Financial Officer and a member of the Company’s board of directors, as consideration for legal and consulting services provided to the Company prior to his employment. The shares were valued based on the closing price of the date of issuance of $0.21 for a total value of $169,920.

Note Financing

In September 2025, the Company entered into the September-Securities Purchase Agreements, as defined and described in Note 8 below. $1,050,000 and $1,000,000, respectively, of the aggregate principal amount of the Convertible Notes sold pursuant to the September-Securities Purchase Agreements were sold to Sixth Borough Capital Fund, LP, an entity controlled by Robert D. Keyser, Jr., who is a member of the Company’s board of directors, and to Sandip Patel, a member of the Company’s board of directors.

NOTE 8. RELATED PARTY TRANSACTIONS

Related Party Share Issuance/Transfers

During the month of July 2024, Quantum Ventures LLC (“Quantum Ventures” or the “Sponsor”) and AtlasFinTech transferred 1,558,923 and 991,665 pre reverse split shares, respectively for total contributed shares of 2,550,588 or 42,510 post reverse split shares recorded as contributed capital for $2,412,930. The Company recorded contributed capital for the value of the liabilities settled with their personal shareholding. The contributed capital recognized was$21,299 in interest paid in shares for Promissory Notes, $217,397 in interest for Secured Convertible Note, $400,000 of principal under the Chardan convertible note along with $212,803 in interest paid for the Chardan convertible note, $351,141 in interest for Short and long term Notes and $1,210,290 for payment under the contingent obligation to sellers.

On August 9, 2024, the Company entered into a Satisfaction of Discharge of indebtedness agreement with Atlas FinTech. Pursuant to the agreement the Company issued 2,788,276 pre reverse split or 46,471 post reverse split shares in satisfaction of $803,860 included in accounts payable. In addition, the Company issued 1,337,500 pre reverse split or 22,292 post reverse split shares as reimbursement for 991,665 pre reverse split or 16,528 post reverse split shares that were transferred by AtlasFinTech, as stated above, to satisfy the Company requirements to pay interest on various loans with unrestricted shares. As such a total of 4,125,776 pre reverse split or 68,763 post reverse split shares of common stock of the Company, par value $0.0001 per share (the “Common Stock”) were transferred to Atlas FinTech in satisfaction.

In the quarter ended March 31, 2025, AtlasFinTech transferred some of its shares to Tau to provide the Company with funding as the Company no longer had registered shares available. The value of the shares resulted in $177,334 of value contributed to the Company. As a result, the board approved the issuance of 27,282 shares to renumerate AtlasFinTech resulting in a net zero impact to the Company.

Advances from Related Parties

As of December 31, 2023 and 2022, a related party had advanced $3,104,097 and $319,166, respectively, to the Company. Through February 9, 2024, the Co-Sponsors advanced an additional $1,052,300 for an aggregate of $4,156,397 advanced to the Company and offset the balance by $58,828 in receivable from Co-Sponsor. On February 9, 2024, upon the Closing of the Business Combination, the advances from related party, the related party loan of $480,000 as described below and the $58,828 receivable from related party was settled with the issuance of 33,333 shares post reverse-split settling a total of $4,636,397 in liabilities and $58,828 in receivables. The value of the shares granted was based on $60 per share resulting in a deemed dividend to the related party of $15,422,431.

Atlas FinTech, a related party and shareholder, incurred expenditures of $803,860 in connection with the business combination. The amount is included in accounts payable and accrued liabilities as of June 30, 2024. On August 9, 2024, the Company issued 2,788,276 pre reverse split or 46,471 post reverse split shares to Atlas FinTech as full settlement of this payable as described above.

On December 27, 2024, a director of the Company advanced $9,000 to cover the Company registration statement filing fees. The amount remains unpaid and is included in account payable.

On March 21, 2025, a director of the Company advanced $6,000 to cover the Company registration statement filing fees. The amount remains unpaid and is included in account payable.

On June 30, 2025, a director of the Company advanced $20,000 to cover the Company Bancorp acquisition extensions payments. The amount remains unpaid and is included in account payable.

As of June 30, 2025 $164,088 of payables to former officers and directors prior to the Business Combination are included in Advances to from related party.

Founder Shares

The sale of the Founders Shares to the Company’s directors and director nominees is in the scope of FASB ASC Topic 718, “Compensation-Stock Compensation” (“ASC 718”). Under ASC 718, stock-based compensation associated with equity-classified awards is measured at fair value upon the grant date. The fair value of the 4,083 post reverse-split shares granted to the Company’s directors and director nominees was $1,462,650 or $358.2 per share post split. The Founders Shares were granted subject to a performance condition (i.e., the occurrence of a Business Combination). Compensation expense related to the Founders Shares is recognized only when the performance condition is probable of occurrence under the applicable accounting literature in this circumstance. The transaction closed on February 9, 2024 the transaction was recognized as of February 9, 2024.

Related Party Loans

On March 14, 2022, the Company issued an unsecured promissory note, effective as of January 3, 2022, in the amount of up to $480,000 to Quantum Ventures to evidence the Working Capital Loans. The note bore no interest and was payable in full upon the earlier (i) February 9, 2023 and (ii) the effective date of the consummation of an initial business combination. The note was required to be repaid in cash at the Closing and was not convertible into Private Warrants. The promissory note was past due as of December 31, 2023 and on February 9, 2024, upon the Closing of the Business Combination, the unsecured promissory note was settled with the issuance of 33,333 shares post reverse-split (see above.)

- 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 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 5
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 6
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-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
-SubTopic 220
-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
-Publisher FASB
-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

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2025

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES

NOTE 9. NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES

Registration Rights

The Company filed two registration statements on Form S-1 to register the resale of up to 77,577,099 shares of Common Stock (on a pre-split basis) and up to 34,532,737 shares of Common Stock (on a post-split basis) by the selling stockholders named in the respective registration statements, which became effective on August 14, 2024 and March 6, 2025, respectively. The Company did not and will not receive any of the proceeds from these sales.

Earnout Liability

In connection with the Closing, and pursuant to the terms of the Business Combination Agreement, stockholders of AtlasClear (the “AtlasClear Stockholders”) received merger consideration (the “Merger Consideration Shares”) consisting of 4,440,000 shares pre reverse split or 74,000 post reverse split of common stock of the Company, par value $0.0001 per share (the “Common Stock”). In addition, the AtlasClear Stockholders will receive up to 5,944,444 shares of Common Stock (the “Earn Out Shares”) upon certain milestones (based on the achievement of certain price targets of Common Stock following the Closing). In the event such milestones are not met within the first 18 months following the Closing, the Earn Out Shares will not be issued. Atlas FinTech will also receive up to $20 million of shares of Common Stock (“Software Products Earn Out Shares”), which will be issued to Atlas FinTech upon certain milestones based on the achievement of certain revenue targets of software products contributed to AtlasClear by Atlas FinTech and Atlas Financial Technologies Corp. following the Closing. The revenue targets will be measured yearly for five years following the Closing, with no catch-up between the years. The Earn Out provision was analyzed under ASC 480 and ASC 815. The Software Products Earn Out Shares Payments in this transaction are within the scope of ASC 480 and therefore will be accounted for as a liability and included in the purchase price consideration. The revenue earnout was estimated using a Monte Carlo simulation to determine if and when the revenue hurdles would be achieved. The revenue volatility and revenue to equity correlation was based upon the same guideline public companies. The Monte Carlo simulation was performed simultaneously on both the share price and revenue to account for the correlation between revenue and equity. As of June 30, 2025 and 2024 the fair value of the earnout liability was $11,369,000 and $12,298,000, respectively. See Note 17 Fair Value Measurements for additional information.

Business Combination Marketing Agreement and Chardan Note

In connection with the Closing on February 9, 2024, the Company and Chardan agreed that the fee, in the amount of $7,043,750, payable by the Company to Chardan upon the Closing pursuant to the terms of the business combination marketing agreement entered into in connection with Quantum’s initial public offering, would be waived in exchange for the issuance by the Company to Chardan of a convertible promissory note in the aggregate principal amount of $4,150,000. Additionally, the Company entered into a settlement and mutual release with Chardan which amended the original note to a principal amount of $5,209,764. As of June 30, 2025 $4,250,000 of the amount were converted to shares of Common Stock and subsequently through September 19, 2025 the remaining $959,764 in principal was converted to Common Stock and settled paid in full.

Also on February 9, 2024, the Company entered into a registration rights agreement with Chardan (the “Chardan Registration Rights Agreement”), pursuant to which the Company agreed, among other things, to file with the SEC within 45 days after the Closing Date a registration statement registering the resale of the shares of Common Stock issuable upon exercise of the Original Chardan Note and to use its reasonable best efforts to have such registration statement declared effective as soon as possible after filing. If the registration statement was not filed within 45 days after the Closing or was not effective within a specified period after the Closing (or if effectiveness is subsequently suspended or terminated for at least 15 days, subject to certain exceptions), then the interest rate of the Original Chardan Note increased by 2% for each week that such event continued. The Chardan Registration Rights Agreement also provided that the Company was obligated to file additional registration statements under certain circumstances, and provided Chardan with customary “piggyback” registration rights.

On May 7, 2024, Chardan Capital Markets LLC (“Chardan”) filed a complaint in the Court of Chancery of the State of Delaware in an action entitled Chardan Capital Markets LLC v. AtlasClear Holdings, Inc., C.A. No. 2024-0480-LWW, for alleged breach of contract, breach of the implied covenant of good faith and fair dealing, and specific performance, alleging that the Company breached the Chardan Registration Rights Agreement, by failing to file a registration statement with the SEC to permit the public resale of certain registerable securities in an amount sufficient to cover the Original Chardan Note. Chardan alleged that the Company’s failure to file the registration statement left Chardan without the ability to convert and sell shares of the Company’s Common Stock as allowed for under the Original Chardan Note.

On October 23, 2024, the Company, Quantum Ventures, Chardan and Chardan Quantum LLC entered into an agreement pursuant to which they settled the claim referenced above, and any and all related claims (the “Settlement Agreement”). In connection with the Settlement Agreement, Chardan exchanged the Original Chardan Note for an amended non-interest bearing, convertible note in the aggregate principal amount of $5,209,764 (as amended the “Chardan Note”). While the Chardan Note does not bear interest, it can be converted from time to time by Chardan, in whole or in part, into shares of Common Stock at the election of the holder at any time at a conversion price equal to 90% of the VWAP of the Common Stock for the trading day immediately preceding the applicable conversion date which was on terms substantially similar to the conversion provisions in the Original Chardan Note, and any remaining outstanding principal is to be repaid in full on the same maturity date as the Original Chardan Note.

In connection with the Settlement Agreement, on October 23, 2024, the Company and Chardan entered into an amendment (the “Chardan Amended RRA”) to the registration rights agreement, dated February 9, 2024, pursuant to which the Company registered the resale of shares of Common Stock issuable upon conversion of the Chardan Note.

The Chardan Note is a Troubled Debt Restructuring (“TDR”) in scope of ASC 470-60, as the Company is both experiencing financial difficulty and Chardan has granted a concession. Since the debt restructuring involves a modification of terms of the note, it is accounted for prospectively from the time of restructuring (i.e., a new effective interest rate is established based on the carrying value of the Original Note and the revised cash flows). In addition, the maximum total undiscounted future cash payments $5,209,764 exceed the carrying amount of the Original Note $3,282,518; therefore, no adjustment to the carrying amount of the restructured debt is required and no restructuring gain is recognized. Any new fees to Chardan should be capitalized and amortized, while fees paid to third parties should be expensed. Any changes to the terms of the bifurcated derivative will go through income as a change in fair value.

During the year ended June 30, 2025, the Company received conversion notices for an aggregate principal amount of $4,975,000, and received a total of 2,744,623 post reverse split shares of Common Stock, of which 6,113 post reverse split were registered shares transferred from Quantum Ventures and 2,119 post reverse split were registered shares transferred from Atlas FinTech, (see Note 8 Relate Party Transactions- related party shares issuance/transfers above), and 2,736,391 post reverse split were newly issued registered shares. During the year ended June 30, 2025, Quantum Ventures transferred 2,427 post reverse split and Atlas Fintech transferred 877 post reverse split registered shares to pay for accrued interest of $212,803.

During year ended June 30, 2025, the Company recognized $137,872 in interest expense on the principal and $1,772,558, of interest related to the amortization of the debt discount created with the derivative liability.

As of June 30, 2025, the principal balance on the note was $959,764 and $240,897 of unamortized remaining discount for total carrying balance of $718,867. See Note 17 for additional information on the fair value and change in fair value related to the derivative.

Commercial Bancorp

On November 14, 2024, the Company and Commercial Bancorp agreed to amend the agreement and plan of merger, dated November 16, 2022 (as amended, the “Bank Acquisition Agreement”), to extend the termination date of the Bank Acquisition Agreement from November 16, 2024, to May 14, 2025. Pursuant to the amendment, the parties expect to enter into a new and mutually agreed agreement for the Company to acquire the shares held by such shareholders of Commercial Bancorp. No Commercial Bancorp shareholder is required to agree to such amended or new agreement. Failure to enter into a new agreement or amendment to the Bank Acquisition Agreement shall constitute termination of the Bank Acquisition Agreement without liability. The Company was to issue to the shareholders of Commercial Bancorp, without additional compensation, 8,333 shares of common stock and the previously issued 667 shares to the Commercial Bancorp shareholders were to be cancelled. The shares were not issued timely and as a result the Company agreed to issue 36,070 shares due to the drop in stock value during the delay. The 36,070 shares were issued on March 13, 2025 and were valued at $43,645 based on the trading price of the Common Stock of $1.21 on March 13, 2025. The value of the shares issued was recorded as a deposit towards the acquisition of Commercial Bancorp. The extension period terminated on May 14, 2025, as such the Company has agreed to pay $5,000 cash payment for each two-week extension. As of June 30, 2025, the Company paid $20,000 in cash and extended the agreement until July 9, 2025. As of the date of filing the Company has paid and additional $30,000 to extend until October 1, 2025.

Expense Settlements

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Carriage House Capital, Inc. – up to 5,833 shares of Common Stock that were issued, or may become issuable, to Carriage House Capital, Inc. (“Carriage”), pursuant to the Consulting Agreement, dated as of February 19, 2024, between Carriage and the Company (the “Carriage Agreement”), as partial consideration for consulting services rendered to the Company, at the price per share of $298.80 on the day of issuance. The total consideration due under the Consulting Agreement is 5,833 shares of Common Stock, 1,6677 shares of which were due upon signing of the contract and 4,166 shares of which were due. On February 9, 2024, 1,667 shares were issued, and were valued at $298.80 per share as agreed upon consideration. As of June 30, 2024 the 4,166 unissued shares were recorded at fair value of $259,893 at $62.38 per share based on the closing price on June 30, 2025. On January 15, 2025 the Company issued the remaining 4,166 shares under the agreement and valued at the closing price on the date of issuance of $6.50 per share resulting in settlement of the stock payable at $27,100, and recognized the change in fair value of the stock payable of $232,793.

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Interest Solutions, LLC –2,408 shares of Common Stock that may become issuable to Interest Solutions, LLC (“Interest Solutions”), pursuant to a convertible promissory note, dated as of February 9, 2024, in the aggregate principal amount of $275,000 (the “Interest Solutions Note”) at a price per share of $120. Accrued interest on the Interest Solutions Note is payable monthly, beginning on June 30, 2024, at a rate of 13% per annum and mature on February 9, 2026. Until all payments have been made to the Wilson-Davis Sellers, interest on the Interest Solutions Note may be paid in cash or shares of Common Stock valued at the then-current conversion price. Thereafter, all accrued interest must be paid in cash. During the year ended June 30, 2025 the Company recognized $35,652 in interest expenses. Quantum Ventures transferred registered shares to pay for $9,011 in accrued interest. As of June 30, 2025 and June 30, 2024, there is $315,549 and $288,908 included in Promissory note payable.

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JonesTrading Institutional Services LLC –3,283 shares of Common Stock that may become issuable to JonesTrading Institutional Services LLC (“JonesTrading”), pursuant to a convertible promissory note, dated as of February 9, 2024, in the aggregate principal amount of $375,000 (the “JonesTrading Note”) at a price per share of $120. Accrued interest on the JonesTrading Note is payable monthly, beginning on June 30, 2024, at a rate of 13% per annum and mature on February 9, 2026. Until all payments have been made to the Wilson-Davis Sellers, interest on the Interest Solutions Note may be paid in cash or shares of Common Stock valued at the then-current conversion price. Thereafter, all accrued interest must be paid in cash. During the year ended June 30, 2025 the Company recognized $48,617 in interest expenses and the Quantum Ventures transferred 101 registered shares to pay for $12,288 in accrued interest. As of June 30, 2025 and June 30, 2024, there is $430,295 and $393,966 included in Promissory note payable.

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Toppan Merrill LLC – the Company issued to Toppan Merrill LLC (“Toppan”) a promissory note, dated as of February 9, 2024, in the aggregate principal amount of $160,025 (the “Toppan Note”). The maturity date of the Toppan Note is February 8, 2026 and the note accrues interest at a rate of 13% per annum. The principal and interest payments due under the note is not payable in shares of Common Stock. During the year ended June 30, 2025 the Company recognized $15,694 in interest expenses. As of June 30, 2025 and June 30, 2024, there was $185,788 and $170,094, respectively, included in Promissory note payable.

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Winston & Strawn LLP – up to $2,500,000 in shares of Common Stock that may become issuable to Winston & Strawn LLP (“Winston & Strawn”), pursuant to a subscription agreement, dated as of February 9, 2024, between Winston & Strawn and the Company (the “Winston & Strawn Agreement”). Pursuant to the Winston Agreement, the Company may issue $2,500,000 worth of shares of Common Stock as payment for legal services, in three equal installments of $833,333 beginning on August 9, 2024. As of June 30, 2025 and June 30, 2024, the amount is included in Subscription agreement as an liability of $2,489,945 and $2,425,647, respectively. Due to the nature of the settlement terms, the subscription agreement was deemed to be a derivative liability to the Company as of June 30, 2024 under ASC 480. Change in fair value of the subscription agreement are measured at each reporting period with change reported in earnings. See valuation approach and further disclosure on Note 17.

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Outside The Box Capital Inc. –6,919 shares of Common Stock that were issued to Outside The Box Capital Inc. (“OTB”), pursuant to a Marketing Services Agreement, as payment in shares for services rendered to the Company the shares were valued at the closing price on the date of issuance of $5.70 per share resulting in compensation expense of $39,404.

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Locbox Technologies, Inc. – 203,425 shares of Common Stock that were issued to Lockbox Holdings (“LCBX”), pursuant to a Software As A Services License Agreement, as payment in shares for services rendered through June 30, 2025. The shares were valued at the closing price on the date of issuance of $0.2053 per share resulting in compensation expense of $41,763. The Company shall pay LCBX $20,000 per month, of which the Company has the option to pay in cash or stock. If paid in

stock the company shall use 90% of the five day VWAP of the last trading of the preceding month. The parties agreed to a 9.9% blocker for maximum equity ownership, if LCBX is blocked from receiving shares as payment cash must be paid. In the event cash is not paid timely a 13% interest charge will apply on the amount outstanding. At the end of the twelve month term, the Company shall have the right to acquire 5% of LCBX at a $10,000,000 valuation, approximately a $500,000 investment by the Company. LCBX agrees to credit 50% of the total license fees paid by ATCH through the term towards the acquisition.

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Stock Promotion Agreement. – On June 23, 2025, 100,000 shares of Common Stock were issued to an individual third party pursuant to a Stock Promotion Agreement for a six month service period. The shares were valued at the closing price on the date of issuance of $0.1905 per share resulting in value of $19,050 which was recorded as a prepaid and will be expensed over the six months service period. There are no performance obligations and upon termination of agreement compensation remains due as such the valuation date was deemed to be the date of issuance.

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Longside Ventures LLC – 200,000 shares of Common Stock that were issued or to be issued to Longside Ventures LLC. (“Longside”), pursuant to a Services Agreement, dated as of August 29, 2025 as payment in shares for strategic communications, and corporate advisory services to be rendered to the Company. 100,000 shares were issued upon execution of the agreement and the other 100,000 will be paid on the one-month anniversary thereof.

Secured Convertible Note Financing

On February 9, 2024, Wilson-Davis and Quantum entered into a securities purchase agreement (the “Purchase Agreement”) with Funicular Funds, LP, a Delaware limited partnership (“Funicular”), pursuant to which the Company sold and issued to Funicular, on that date, a secured convertible promissory note in the principal amount of $6,000,000 (the “Funicular Note”) for a purchase price of $6,000,000, in a private placement (the “Secured Note Financing”). The proceeds raised in the Note Financing were used to pay a portion of the purchase price paid at Closing to the Wilson-Davis Sellers.

The Funicular Note has a stated maturity date of November 9, 2025. Interest accrues at a rate per annum equal to 12.5%, and is payable semi-annually on each June 30 and December 31. On each interest payment date, the accrued and unpaid interest shall, at the election of the Company in its sole discretion, be either paid in cash or paid in-kind by increasing the principal amount of the Funicular Note. In the event of an Event of Default (as defined in the Funicular Note), in addition to Funicular’s other rights and remedies, the interest rate would increase to 20% per annum. The Funicular Note is convertible, in whole or in part, into shares of Common Stock at the election of the holder at any time at an initial conversion price of $10.00 per share pre reverse split or $600 post reverse split (the “Conversion Price”). The Conversion Price is subject to adjustment monthly to a price equal to the trailing five-day VWAP, subject to a floor of $2.00 per share pre reverse split or $120 post reverse split (provided that if the Company sells stock at an effective price below $2.00 per share pre reverse split or $120 post reverse split, such floor would be reduced to such effective price, which is now determined to be $0.15), and is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like. The Company has the right to redeem the Funicular Note upon 30 days’ notice after the earlier of August 7, 2024 and the effectiveness of the Registration Statement (as defined in the Funicular Note), and Funicular would have the right to require the Company to redeem the Note in connection with a Change of Control (as defined in the Note), in each case for a price equal to 101% of the outstanding principal amount of the Note plus accrued and unpaid interest. The Funicular Note contains covenants which, among other things, limit the ability of the Company and its subsidiaries to incur additional indebtedness, incur additional liens and sell its assets or properties.

The Funicular Note is secured by a perfected security interest in substantially all of the existing and future assets of the Company and each Grantor (as defined in the Security Agreement, as defined below), including a pledge of all of the capital stock of each of the Grantors, subject to certain exceptions, as evidenced by (i) a security agreement, dated as of February 9, 2024 (the “Security Agreement”), entered into among the Company, each of the Company’s subsidiaries and Funicular, and (ii) a guaranty, dated as of February 9, 2024 (the “Guaranty”), executed by each of the Company’s subsidiaries pursuant to which each of them has agreed to guaranty the obligations of the Company under the Funicular Note and the other Loan Documents (as defined in the Funicular Note).

As a result of the delay in filing the registration statement the Company incurred $1,500,000 in fees through June 30, 2024 which has been added to the principal of the note.

Funicular Amendment

On January 7, 2025, the Company and Funicular Funds, LP (“Funicular”) entered into an Amendment, Waiver and Consent (the “Amendment”). Pursuant to the Amendment, the Company and Funicular agreed to certain amendments to the secured promissory note, in the original principal amount of $6 million (the “Secured Note”), and the registration rights agreement (the “Funicular RRA”), in

each case entered into between them on February 9, 2024, including an extension of the maturity date of the Secured Note from November 9, 2025 to January 31, 2028. In addition, Funicular agreed to waive certain defaults by the Company under the Secured Note and the Funicular RRA and consented to the transactions contemplated by the Purchase Agreement. The Company and the Investor agree that (a) as of December 31, 2024, the aggregate principal amount of the Note, including all accrued interest through such date (all of which has been added to the principal amount as payment-in-kind) and the aggregate amount of all Registration Delay Payments through such date, is $9,357,195, and (b) effective as of January 1, 2025, the Note will accrue interest at the rate of 12.5% per annum specified in the Note, and not at the default rate of 20% per annum.

As of January 7, 2025, AtlasClear Holdings, Inc. accounted for the Amendment as a restructuring under troubled debt restructuring in accordance with ASC 470-60 (“TDR”) of the outstanding liabilities related to the Amendment. The Amendment results in the future undiscounted cash flows of the modified debt being greater than the net carrying value of the original debt, as the only change to cash flows is the additional interest for the period from old maturity date to the new maturity date. Since the maximum total undiscounted future cash payments exceeds the carrying amount of the payable, no adjustment to the carrying amount of the restructured debt is required and no restructuring gain is recognized.

During the year ended June 30, 2025, the Company received notice to convert principal and interest totaling $509,549 resulting in the issuance of 258,678 shares.

During the year ended June 30, 2025, the Company incurred an additional $600,000 in fees due to delays in the registration statement and the unpaid interest of $1,831,819 was applied to the principal balance for a total principal balance of $9,422,271 as of June 30, 2025.

For the year ended June 30, 2025, the Company recognized $1,720,449, of interest expense on the principal and $457,922 of interest related to the amortization of the debt discount issued with the note. As of June 30, 2025, the carrying value of the notes was $8,909,070 net of discount of $513,201. During the year ended June 30, 2025 the Quantum Ventures transferred 368,004 pre reverse split or 6,133 post reverse split registered shares to pay for interest of $217,373.

As a result of the Company’s lack of authorized shares to satisfy its share obligations, the note now falls under ASC 815 and is required to be accounted for at fair value with change in fair value recorded in the statement of operations. See valuation approach and further disclosure on Note 14.

Sellers Note

As a result of the acquisition of Wilson-Davis the company issued (i) $5,000,000 in aggregate principal amount of notes due 90 days after the Closing Date (the “Short-Term Notes”) and (ii) $7,971,000 in aggregate principal amount of notes due 24 months after the Closing Date (the “Long-Term Notes” and, together with the Short-Term Notes, the “Seller Notes”). The Short-Term Notes accrue interest at a rate of 9% per annum, payable quarterly in arrears, in shares of Common Stock at a rate equal to 90% of the trailing seven-trading day VWAP prior to payment (or, at the Company’s option, cash), and are convertible at the option of the holder at any time during the continuance of an event of default, at a rate equal to 90% of the trailing seven-trading day VWAP prior to conversion. The Long-Term Notes accrue interest at a rate of 13% per annum, payable quarterly in arrears, in shares of Common Stock at a rate equal to 90% of the trailing seven-trading day VWAP prior to payment (or, at the Company’s option, in cash), and are convertible at the option of the holder at any time commencing six months after the Closing Date, at a rate equal to 90% of the trailing seven-trading day VWAP prior to conversion (or 85% if an event of default occurs and is continuing).

During the year ended June 30, 2025, the Company received conversion notice for a total $5,000,000 in short term loan principal and $366,979 of short term loan interest, and long term loan principal of $6,995,624 and $937,773 of long term interest. In addition the Company received conversion notice for a total of $1,439,586 in Merger Financing as discussed below and $256,091 of Merger Financing interest receiving a total of approximately 34,931,855 shares of common stock newly issued registered shares. During the year ended June 30, 2025, the company recognized $366,978 in interest expense on the short-term principal, $969,473 in interest expense on the long-term principal and $594,370 of interest related to the amortization of the debt discount on long-term loan created with the derivative liability. During the year ended June 30, 2025 the Quantum Ventures transferred 6,133 registered shares to pay for accrued interest of $92,083 on short-term loan and $98,483 on long-term loan. As of June 30, 2025 the principal balance and accrued interest of short-term loan was fully settled with shares in agreed upon conversion terms. As of June 30, 2025 the principal balance on the long-term loan was $975,573 and $31,706 in accrued interest less of $27,167 of unamortized debt discount for total principal balance of $980,112 in long-term loans. The loan matures on February 9, 2026, as such the long term loan has been included in current liabilities.

As of September 19, 2025 both the short term and long terms Seller’s Notes have been paid in full. See subsequent event Note 19 for further detail.

Contingent Guarantee

In connection with the acquisition of Wilson-Davis, Founder shares were transferred to cover a cash deficit of $4,000,000. The agreement has a make-whole provision that is required to be accounted for under ASC 480. The Company has valued the obligation as of June 30, 2024 based on the cash value that would need to be renumerated by the Company. The value of the cash that would be paid was deemed to be the fair value of the contingent guarantee. As of February 9, 2024, the 885,010 shares transferred by the Founder were valued at $8,850,100 which was greater than the $4,000,000 guaranteed value as such the value of the guarantee was deemed to be zero on February 9, 2024. As a result of the decrease in stock prices through June 30, 2024, the Sellers recovered $743,137 in cash through sales of the shares transferred resulting in the value of the liability as of June 30, 2024 to be $3,256,863.

During the year ended June 30, 2025, the Atlas FinTech agreed to transfer 1,234,990 in registered shares to the sellers under the contingent guarantee, resulting in a reduction in the contingent guarantee of $1,210,290 based on the fair value of the shares transferred on the transfer date.

On August 9, 2024, the Company entered into an agreement to modify the terms of the contingent guarantee where the Company agreed to enter into a convertible note on the amount that has not yet been recovered through share issuances of $2,886,347 plus a 5% convenience fee applied resulting in the Company issuing a convertible note of $3,030,665 due February 9, 2026. This Convertible Promissory Note (this “Merger Financing”) is being issued pursuant to that certain Post-Closing Agreement dated effective August 9, 2024 (the “Agreement”), by and between the Company and the former stockholders of Wilson-Davis, to address the remaining Gross Proceeds Shortfall that cannot be remedied by the transfer of Additional Shares. Capitalized terms used but not defined herein shall have the meanings given to them in the Stock Purchase Agreement, as defined in the Agreement. The note was analyzed under ASC 480 and ASC 815, as a result of the Company not having sufficient shares authorized to settle the convertible note, the Merger Financing note falls under ASC 815.

During the year ended June 30, 2025, the Company received notice to convert $1,439,586 in principal and $256,091 in interest, see Sellers Note above for total shares issued to convert principal and interest on all conversion notices received from the Sellers.

Under ASC 815 the conversion feature was bifurcated resulting in a conversion liability of $113,044 for the Merger Financing and at issuance. For the year ended June 30, 2025, the Company recognized $307,801 in interest expense on the principal and $88,830 of interest related to the amortization of the debt discount created with the derivative liability. The carrying balance as of June 30, 2025, net of principal converted to shares of $1,439,586, is $1,618,575, net of $24,215 in unamortized debt discount. See Note 17 for additional information on the fair value of the derivative.

Line of Credit

Wilson-Davis has a $10,000,000 revolving line of credit with BMO Harris Bank N.A. The interest rate is determined at the time of borrowing as agreed by the Company and the bank. The line of credit currently provides for interest at the bank’s overnight rate plus 1.5% and is secured by Wilson-Davis’ assets. In addition, the line of credit carries an interest rate of 0.5% on its unused portion. The interest cost was $50,833 for the year ended June 30, 2025. The Company did not have an outstanding balance on the line of credit as of June 30, 2025. The line of credit contains certain loan covenants and advances on the line of credit are payable on demand. Management believes the Company was in compliance with applicable covenants as of June 30, 2025.

The line of credit agreement requires Wilson-Davis to maintain line of credit collateral with value, as determined by the bank, in an amount at least equal to a percentage of the loan amount as specified by the bank. Advances on the line of credit are payable on demand. The entire amount of this credit facility is available to be drawn and used to meet Wilson-Davis’ liquidity requirements for NSCC clearing margin deposits.

Tau Agreement - ELOC

On July 31, 2024, the Company and Tau Investment Partners LLC (“Tau”) entered into an at-the-market agreement (the “ELOC”). Pursuant to the ELOC, upon the terms of and subject to the satisfaction of certain conditions, the Company has the right from time to time at its option to direct Tau to purchase up to a specified maximum amount of shares of the Common Stock, up to a maximum aggregate purchase price of $10 million (the “Aggregate Limit”), over a 24-month term commencing on the date of the ELOC. The

Company may request, on dates determined by it, individual advances up to the greater of 100,000 shares or such amount as is equal to 50% of the average daily volume traded of the Common Stock during the 30 trading days immediately prior to the date the Company requests each advance, subject to the Aggregate Limit. Any such advance will reduce amounts that the Company can request for future advances and draw downs. The purchase price payable for the shares sold pursuant to any advance will be equal to 97% of the lowest volume weighted average price of the Common Stock during a pricing period of three consecutive trading days following Tau’s receipt of the applicable advance notice. Tau’s obligation to purchase the shares the Company requests to sell pursuant to any advance is conditioned upon, in addition to certain other customary closing conditions, the continued effectiveness of a registration statement pursuant to which Tau may freely sell the shares to be received.

The issuance and sale of the shares of Common Stock pursuant to the ELOC will be exempt from the registration requirements of the Securities Act of 1933, as amended, in accordance with Section 4(a)(2) thereof. The Company filed a registration statement with the Securities and Exchange Commission for the resale by Tau of at least 10,000,000 pre reverse split or 166,667 post reverse split shares of Common Stock (the “Commitment Amount”).

The Company sold to Tau the Common Stock at a Purchase Price equal to 97% of the lowest VWAP of the Common Stock during a pricing period of 3 consecutive trading days commencing on the trading day the Advance Notice is received by the Investor. If the VWAP on any trading day during a pricing period under was below a minimum price set by the Company in connection with each Advance Notice (the “MAP”) then for each such trading day (i) the requested Advance amount was automatically reduced by an amount equal to 33% of the original requested Advance amount and (ii) such day was not be factored into the determination of the Market Price.

Second ELOC Agreement

On February 5, 2025, the Company and Tau entered into an at-the-market agreement (“Second ELOC Agreement”). Pursuant to the Second ELOC Agreement, upon the terms thereof and subject to the satisfaction of certain conditions, we have the right from time to time at our option to direct Tau to purchase up to a specified maximum amount of shares of our Common Stock, up to a maximum aggregate purchase price of $12.25 million (the “Aggregate Limit”), over the 24-month term of the Second ELOC Agreement. We may request, on dates determined by us, individual advances up to the greater of 2,000 shares or such amount as is equal to 50% of the average daily volume traded of the Common Stock during the 30 trading days immediately prior to the date we request each advance, subject to the Aggregate Limit. Any such advance will reduce amounts that we can request for future advances and draw downs. The purchase price payable for the shares sold pursuant to any advance will be equal to 97% of the lowest VWAP of the Common Stock during a pricing period of three consecutive trading days following Tau’s receipt of the applicable advance notice. Tau’s obligation to purchase the shares we request to sell pursuant to any advance is conditioned upon, in addition to certain other customary closing conditions, the continued effectiveness of a registration statement pursuant to which Tau may freely sell the shares to be received.

The Company analyzed both the Commitment Amount and the Commitment fee under ASC 480 and ASC 815. The Commitment Amount is classified as a liability and is initially measured at fair value. The Commitment Amount is subsequently measured at fair value at each reporting period with subsequent changes in fair value recorded in earnings. ASC 815-40-35-8 through 35-9 require an issuer to reassess the classification of both freestanding equity contracts and embedded equity features at each balance sheet date. If the classification changes because of events occurring during the reporting period, the instrument is reclassified as of the date of the event that caused the reclassification.

As consideration the Company was to issue to the Investor a fee equal to 1.25% of the Commitment Amount (the “Commitment Fee”) due in shares upon closing based on the closing price on the day prior to approval of the S-1. As the Commitment Fee is a variable share obligation within the scope of ASC 480, it must be initially and subsequently measured at fair value through earnings at each reporting period.

When estimating the fair value, the Company has followed the guidance in ASC 820 Fair Value Measurement.

As both the Commitment Amount and Commitment Fee were issued in a single transaction and are both remeasured to fair value through earnings in each subsequent reporting period, the proceeds received should be allocated to each freestanding financial instrument on a relative fair value basis. As such, as of June 30, 2025 the Company requested advance notices for a total of $2,093,822 which resulted in approximately 1,615,168 shares to be sold by Tau. Tau sold and settled 1,574,263 shares, of which 7,378 were shares transferred by a related party and 1,566,885 were shares issued by the Company, under the ELOC resulting in $1,911,472 of proceeds under the ELOC of which $41,089 remain as stock receivable. Tau purchased the shares from the Company at $2,116,710 resulting in a realized gain of $22,888. As of June 30, 2025, 35,282 all shares issued to Tau towards have been settled.

See Note 17 for additional information regarding the fair value method applied to the ELOC agreement and related disclosures.

Subordinated Loan Agreements

Previously, the Company entered into six subordinated loan agreements totaling $650,000, all of which are payable to former officers and directors of the Company. The agreements renew annually and provide for interest at 5% per annum.

To provide the additional capital needed, Wilson-Davis’ former officers and directors, and investors, funded $1,300,000 in subordinated demand notes in October 2023. The notes matured in October 2024 and were renewed to mature in October 2025 at an interest rate of 8% per annum, payable quarterly. One of the notes ($20,000) was not renewed and paid in full during October 2024.

The Company anticipates that all remaining notes will be renewed for additional one-year periods, unless circumstances or Company requirements change. The loan principal is unsecured and subordinated in right of payment to all claims of present and future creditors of the Company.

The subordinated loan agreements have been approved by the Financial Industry Regulatory Authority (FINRA) and are available for computing net capital under the Securities and Exchange Commission’s uniform net capital rule (see note 4). To the extent that the borrowings are required for compliance with the minimum net capital requirements, they may not be repaid.

Hanire Purchase Agreement

On December 31, 2024, the Company and Hanire, LLC (“Hanire”) entered into a securities purchase agreement (the “Hanire Purchase Agreement”) for the purchase and sale, in a private placement, of (i) up to 333,333 shares (the “Shares”) of Common Stock, at a purchase price of $15.00 per share (after giving effect to the 1-for-60 reverse stock split), and (ii) a convertible promissory note (the “Hanire Note”) in the principal amount of up to $40 million (plus any amount by which the aggregate purchase price paid by Hanire for the Shares is less than $5 million as a result of the Share Limit, as defined below). To the extent the number of Shares to be purchased by Hanire at the Hanire Closing would cause Hanire to own more than 19.9% of the Company’s outstanding voting stock, the number of Shares will be reduced such that the number of Shares is equal to 19.9% of the total outstanding voting stock (the “Share Limit”). The consummation of the issuance and sale of the Shares and the Hanire Note (the “Hanire Closing”) was to occur at such time as agreed to by the Company and Hanire on or before January 31, 2025 (subject to extension by up to 15 days by Hanire), subject to customary closing conditions. On June 30, 2025, the note was amended so that closing shall occur no later than June 30, 2025 (subject to extension by up to 7 days of written notice of the Investors given on or prior to June 30, 2025). As of June 30, 2025, Hanire had not yet been funded under this agreement and thereby did not close. The agreement is contingent on funding and therefore has no accounting implications until funded.

The Hanire Note will provide for Hanire to loan funds, up to the aggregate maximum principal amount of the Hanire Note, in tranches, as follows: (i) $5 million (plus any amount by which the aggregate purchase price paid by Hanire for the Shares is less than $5 million as a result of the Share Limit) at the Hanire Closing, (ii) $12.5 million upon the Company securing a settlement of amounts outstanding to the principal owners of Wilson-Davis, (iii) $7.5 million at such time as the Company files a quarterly report on Form 10-Q or annual report on Form 10-K that shows that the Company has achieved positive net income on a consolidated basis in the most recent reporting period, and (iv) $15.0 million at such time as the Company receives approval from all regulatory authorities to acquire Commercial Bancorp. Unpaid principal amounts under the Hanire Note will accrue simple interest at a rate of 12.0% per annum, payable commencing three months after the initial draw and thereafter quarterly until the maturity date of January 31, 2028. The unpaid principal amount and all accrued interest under the Hanire Note is convertible at any time after certain conditions are met (including receipt of stockholder approval for the issuance of shares upon conversion), at the option of Hanire, into shares of Common Stock (the “Conversion Shares”) at a conversion rate equal to 60% of the volume-weighted average price of the Common Stock for the 20-consecutive trading day period immediately prior to the conversion date. The Company registered the resale by Hanire of up to 333,333 shares of Common Stock.

On September 12, 2025, the Company received $100,000 as a good faith deposit towards the Hanire Purchase Agreement. An amendment to the Hanire Purchase Agreement is currently being negotiated. See subsequent event Note 19 for further detail.

Indemnification Agreements

On the Closing Date, in connection with the Closing, the Company entered into indemnification agreements with each of its directors and executive officers, which provide for indemnification and advancements by the Company of certain expenses and costs under certain circumstances. The indemnification agreements provide that AtlasClear Holdings will indemnify each of its directors and executive officers against any and all expenses incurred by that director or executive officer because of his or her status as a director or officer of AtlasClear Holdings, to the fullest extent permitted by Delaware law, the Amended and Restated Certificate of Incorporation and the Amended and Restated Bylaws.

Wilson-Davis

On February 27, 2018, an extended hearing panel of the Department of Enforcement of the Financial Industry Regulatory Authority, Inc. (“FINRA”), Office of Hearing Officers, issued its decision ordering fines aggregating $1.47 million for violations of the applicable short sales and anti-money laundering rules. Wilson-Davis appealed the decision to the National Adjudicatory Council (“NAC”). On December 19, 2019, NAC issued its decision ordering that the fines be reduced by $205,000 to an aggregate $1.265 million. Wilson-Davis made a timely appeal to the SEC to hear the case. On December 28, 2023, the SEC issued a ruling affirming the findings of violations and remanding the matter back to FINRA to reconsider the appropriate sanctions in light of the SEC decision. On July 10, 2025, the National Adjudicatory Counsil reduced the fines to an aggregate of $490,000. The Company made a timely appeal of the decision to the SEC. Pursuant to FINRA Rules, the Company’s timely appeal of the decision to the SEC deferred the effectiveness of the findings and sanctions. Due to the disparity in the range of fines of similar cases, the Company believes that the final amount is not reasonably estimable. The Company has booked a contingent liability totaling $100,000 which represents the estimated low end of the possible range of fines.

Software Development and License agreement

On June 10, 2025, the Company and Pacsquare entered into a Software Development and License agreement, where the parties agreed to supersede and replace the Pacsquare Purchase Agreement and to fully release one another form any and all obligations or claims arising from or pursuant to the prior agreement. Therefore as a result of entering into the agreement the parties agreed to a 36 month term software development and licensing service where Pacquire will continue to develop the Online Account Application (“OLA”) provide updates, bug fixes, patches or other error corrections and ongoing maintenance and support throughout the term of the agreement. Pacquare will deliver the existing source code and provide up to 80 hours of developer-to developer support for knowledge transfer to new developers of the Company for a six month period. The OLA license shall be held by the Company perpetually can be transferred and will be royalty free to modify and develop the platform for internal use or for white-label deployment, to charge correspondents a fee for use and transfer and assign such license in connection with the sale of WDCO or Atlas. Payment shall be $375,00 payable over the 36 month term as follows: $20,000 upon effective date of agreement, $15,000 first month payment and $10,000 for the remaining 34 months.

ACQUISITION OF WILSON-DAVIS

12 Months Ended

Jun. 30, 2025

ACQUISITION OF WILSON-DAVIS

ACQUISITION OF WILSON-DAVIS

NOTE 10. ACQUISITION OF WILSON-DAVIS

Prior to the Closing, AtlasClear and the Company entered into two amendments to the Broker-Dealer Acquisition Agreement with Wilson-Davis and the then-owners of Wilson-Davis.

As a result of the closing of the business combination the Company allocated the purchase price with the acquisition of Wilson-Davis under the acquisition method of accounting. The final allocation of the purchase consideration for the merger was determined and is summarized below.

As such the allocation of the purchase price is as follows:


Cash paid to Wilson-Davis shareholders	$	8,092,569
Short-term notes		5,000,000
Long-term notes		7,971,197
Value of shares transferred from sponsor		6,000,000
Total consideration paid		27,063,766

Allocated to:
Cash	$	11,333,271
Cash segregated		22,000,605
Receivables		4,065,148
Trading Securities, market value		6,875
Prepaid Income Tax		201,125
Accounts payable, accrued expenses and other current liabilities		(28,045,034)
Current portion of lease liability		(161,212)
Property and equipment		23,645
Cash deposit BDs and Clearing Organizations		3,536,664
Operating Lease Right-to-Use Lease Assets		395,063
Other Assets		385,058
Stock loan		(1,431,068)
Long-term Lease liability		(239,629)
Subordinated Borrowing		(1,950,000)
Deferred tax liability		(3,724,270)
Trading Account deposit		(100,000)
Net assets acquired		6,296,241
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	$	20,767,525

The fair value of property and equipment was determined using the indirect cost approach which utilizes fixed asset record information including historical costs, acquisition dates, and asset descriptions and applying asset category specific nationally recognized indices to the historical cost of each asset to derive replacement cost new less depreciation. Management has also made the initial determination that all other assets and liabilities to be acquired are primarily estimated to be stated at their fair values, which approximates their recorded cost. While a final determination of the value of the identifiable intangibles has not been completed, management has made an initial determination that approximately $20.77 million of the excess of the purchase price over the net assets acquired should be allocated to identifiable intangible assets.


			Estimated
			Useful Life
	Amount		(Years)
Customer Lists (a)	$	14,625,000	12
Excess of purchase price		20,767,525	—
Goodwill	$	6,142,525	—

(a)

The Wilson Davis customer relationships were valued using the Multi-Period Excess Earnings Method (“MPEEM”). The MPEEM reflects the present value of the operating cash flows generated by existing customer relationships after taking into account the cost to realize the revenue and an appropriate discount rate to reflect the time value and risk associated with the cash flows.

Pro Forma Financial Information

The unaudited pro forma financial information in the table below summarizes the combined results of Wilson-Davis operations and AtlasClear Holdings’s operations, as though the acquisition of Wilson Davis had been completed as of the beginning of fiscal 2024. The pro forma financial information for the transition period ended June 30, 2024 combines our results for these periods with that of AtlasClear Holdings’s results for transition perioded ended June 30, 2024.

The following table summarizes the unaudited pro forma financial information:


	June 30, 2024
Total revenue	$	5,247,150
Net loss		(23,878,060)

Weighted average shares
Basic and diluted		196,696
Net loss per shares:
Basic and diluted	$	(121.40)

The unaudited pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition and the cost of financing the acquisition had taken place at the beginning of fiscal 2024. The financial information for the periods presented above includes pro forma adjustments as follows:


	June 30, 2024
Transaction cost	$	(9,008,053)
Amortization of intangibles	$	—
Loss on AtlasClear acquisition	$	86,392,769
Interest earned on investments held in trust	$	(256,279)

- Definition

The entire disclosure for business combination.

+ References

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+ Details

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC

12 Months Ended

Jun. 30, 2025

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC

NOTE 11. ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC

In connection with the Closing, and pursuant to the terms of the Business Combination Agreement, stockholders of AtlasClear (the “AtlasClear Stockholders”) received merger consideration (the “Merger Consideration Shares”) consisting of 74,000 shares post reverse split of common stock of the Company, par value $0.0001 per share (the “Common Stock”). In addition, the AtlasClear Stockholders will receive up to 5,944,444 shares of Common Stock (the “Earn Out Shares”) upon certain milestones (based on the achievement of certain price targets of Common Stock following the Closing). In the event such milestones are not met within the first 18 months following the Closing, the Earn Out Shares will not be issued. Atlas FinTech will also receive up to $20 million of shares of Common Stock (“Software Products Earn Out Shares”), which will be issued to Atlas FinTech upon certain milestones based on the achievement of certain revenue targets of software products contributed to AtlasClear by Atlas FinTech and Atlas Financial Technologies Corp. following the Closing. The revenue targets will be measured yearly for five years following Closing, with no catch-up between the years.

To reflect the purchase of Developed Technology identified under the Assignment and Assumption Agreement and Bill of Sale (the “Contribution Agreement”) between AtlasClear, Atlas FinTech and Atlas Financial Technologies Corp., pursuant to which Atlas FinTech and Atlas Financial Technologies Corp. contributed to AtlasClear all rights, title and interest in certain intellectual property, among other things. There are no historical revenues for the Developed Technology and AtlasClear’s management determined the fair

value based on their experience and expectations from running similar models in previous companies. The value was derived based on the purchase price allocation as follows: (the table below is expressed in thousands).


Total Purchase Price(a)	$	44,400,000
Fair value of Software Product Earn Out Shares(b)		10,963,000
Fair value of Earn Out Shares(c)		31,347,000
Purchase price allocated to Contribution Agreement	$	86,710,000
SURFACExchange	$	381,461
Bond Quantum		32,284
Atlas		7,749,299
Rubicon		10,000,000
Total Developed Technology acquired(d)	$	18,163,044
Transaction cost(e)	$	68,546,956

Technology acquired	$	18,163,044
Amortization recognized		(317,231)
Carrying balance of Technology acquired written off		17,845,813
Total loss on AtlasClear technology acquired	$	86,392,769

(a)	The closing consideration of $44.40 million is to be delivered in common stock. As such 74,000 post reverse - splits shares were delivered based on $60 per share post reverse - split presumed value of common stock.

(b)

Atlas FinTech will receive up to $20.00 million of Common Stock (“Software Products Earn Out Shares”), which will be issued to Atlas FinTech upon certain milestones (based on the achievement of certain revenue targets of software products contributed to AtlasClear by Atlas FinTech and Atlas Financial Technologies Corp. following the Closing). The revenue targets will be measured yearly for the five years following Closing, with no catch-up between the years. The value was determined based on projected revenue based on a discount factor. The Earn Out provision was analyzed under ASC 480 and ASC 815. the Software Products Earn Out Shares Payments in this transaction are within the scope of ASC 480 and therefore will be accounted for as a liability and included in the purchase price consideration. The revenue earnout was estimated using a Monte Carlo simulation to determine if and when the revenue hurdles would be achieved. The revenue volatility and revenue to equity correlation was based upon the same guideline public companies. The Monte Carlo simulation was performed simultaneously on both the share price and revenue to account for the correlation between revenue and equity.

(c)

Atlas FinTech will receive up to 5,944,444 shares of Common Stock (the “Earn Out Shares”). The Earn Out Shares will be issued to AtlasClear Stockholders upon certain milestones (based on the achievement of certain price targets of Common Stock following the Closing). In the event such milestones are not met within the first 18 months following the Closing, the Earn Out Shares will be cancelled. The Earn Out provision was analyzed under ASC 480 and ASC 815. The earnout provision was deemed to be indexed to the Company’s own stock and therefore equity classified. The share based earnout was estimated using a Monte Carlo simulation to determine if and when the stock price hurdles would be achieved. The expected stock price volatility was based upon guideline public companies.

(d)

Under SAB topic 5G transfers of nonmonetary assets for stock prior to an initial offering should be recorded at predecessor cost in accordance with GAAP. As such the value of the Developed Technology was based on the carrying value of Atlas FinTech of $18.16 million. The estimated useful life was determined to be eight years. There are no historical revenues for the Developed Technology and AtlasClear’s management determined the fair value based on their experience and expectations from running similar models in previous companies.

(e)	ASC 350 prohibits the recognition of goodwill in an asset purchase. As such the difference between the purchase price of $86.98 million was charged as transactions and recorded under accumulated deficit of $68.55 million.

Pursuant to the Contribution Agreement, Atlas FinTech and Atlas Financial Technologies Corp. contributed to AtlasClear all their rights, title and interest to the above stated software products and intellectual property assets upon the closing of the Business Combination (the “FinTech Assets”). At present, none of the FinTech assets are in production. Further, due to limited capital contributions from the Quantum’s trust account, management views timelines for revenue recognition from the FinTech Assets to be unknowable and therefore has decided to write down the assets.

INTANGIBLE ASSETS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 9. INTANGIBLE ASSETS

Amortization expense was $355,795 and $307,191 for the three month period ended September 30, 2025 and September 30, 2024, respectively.

Intangible Assets of the company at September 30, 202 and June 30, 2025 are summarized as follows:


		September 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net
Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Pacsquare assets – Proprietary Software	10 years		1,928,800		(192,299)		—		1,736,501
Customer Lists	12 years		14,625,000		(2,000,086)		—		12,624,914
Intangible Assets		$	22,696,325	$	(2,192,385)	$	—	$	20,503,940


		June 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net
Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,928,800		(143,696)		—		1,785,104
Customer Lists	12 years		14,625,000		(1,692,894)		—		12,932,106
Intangible Assets		$	22,696,325	$	(1,836,590)	$	—	$	20,859,735

Below is a summary of the amortization of intangible assets for the next five years:


Fiscal Year	Amount
June 30, 2026	$	1,055,782
June 30, 2027		1,411,577
June 30, 2028		1,414,916
June 30, 2029		1,414,577
June 30, 2030		1,411,577
Thereafter		7,655,985

NOTE 12. INTANGIBLE ASSETS

Pacsquare Purchase Agreement

Pursuant to the transactions contemplated by a letter of intent, on February 16, 2024, AtlasClear and Pacsquare entered into a Source Code Purchase Agreement and Master Services Agreement (the “Pacsquare Purchase Agreement”), pursuant to which AtlasClear acquired the AtlasClear Platform. Pursuant to the Pacsquare Purchase Agreement, Pacsquare will develop, implement and launch the AtlasClear Platform and provide maintenance and support services as described in the agreement. The Pacsquare Purchase Agreement provides that Pacsquare will develop and deliver to AtlasClear the Level 1 equities trading platform and that it will develop and deliver all modules of the clearing platform within 12 months of signing the Pacsquare Purchase Agreement. AtlasClear owns all the intellectual property relating to the AtlasClear Platform, including the software and source code. The Pacsquare Purchase Agreement also granted AtlasClear a right of first refusal to any products or services that relate to trading, settlement, clearance or any other business of AtlasClear that Pacsquare proposes to offer to other persons. The purchase price for the assets was $4.8 million as follows: (i) $1.9 million, consisting of (A) $100,000 payable in a cash upon delivery of the source code and execution of the Pacsquare Purchase Agreement; (B) $850,000 payable in shares of Common Stock at a price of $6.00 per share; and (C) $950,000 to be paid in four monthly installments of $237,500, payable in shares of Common Stock at the price per share on the day of issuance and (ii) $2.7 million to be paid ratably on a module-by-module basis upon delivery and acceptance of each of the AtlasClear Platform modules. AtlasClear has sole discretion to determine whether any of the foregoing payments will be made in cash or shares of Common Stock. On June 10, 2025 the Company and Pacsquare entered into a Software Development and License agreement, where the parties agreed to supersede and replace the Pacsquare Purchase Agreement and to fully release one another form any and all obligations or claims arising from or pursuant to the prior agreement. Refer to Note 9 for additional discussion related to the Software Development and License agreement.

As of June 30, 2024, the Company has issued 5,600 shares of Common Stock, 2,361 of which were valued at $360 per share valued at $850,000, per agreed upon terms. 3,239 valued at $90 per share valued at $291,500 based on the fair value of common stock on March 12, 2024, the date the shares were issued pursuant to the terms of the Pacsquare Purchase Agreement. The Company paid $500,000 in cash and accrued $85,000 in accounts payable for total carrying value of $1,726,500. During year ended June 30, 2025, the Company issued 8,333 shares valued at $122,300 on issuance date to Pacsquare as additional consideration towards the AtlasClear platform and accrued and additional $80,000 in accrued invoices received, bringing the balance to $1,928,800 as of June 30, 2025. Of the $165,000 accrued as of March 31, 2025, the Company paid $125,000 in cash leaving $40,000 payable included in accounts payable. The AtlasClear platform commenced utilization as of the quarter ended December 31, 2024 as such amortization expense for the year ended June 30, 2025 is $143,696 and zero for the transition period ended June 30, 2024. The Company anticipates a useful life of 10 years.

Intangible Assets of the Company at June 30, 2025 are summarized as follows:


		June 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net

Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,928,800		(143,696)		—		1,785,104
Customer Lists	12 years		14,625,000		(1,692,894)		—		12,932,106
Intangible Assets		$	22,696,325	$	(1,836,590)	$	—	$	20,859,735


		June 30, 2024
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net

Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,726,500		—		—		1,726,500
Technology acquired	zero years		18,163,044		(317,231)		(17,845,813)		—
Customer Lists	12 years		14,625,000		(474,144)		—		14,150,856
Intangible Assets		$	40,657,069	$	(791,375)	$	(17,845,813)	$	22,019,881

Below is a summary of the amortization of intangible assets for the next five years:


Year	Amount
June 30, 2026	$	1,411,577
June 30, 2027		1,411,577
June 30, 2028		1,414,916
June 30, 2029		1,411,577
June 30, 2030		1,411,577
Thereafter		7,655,985

LEASES

12 Months Ended

Jun. 30, 2025

LEASES

LEASES

NOTE 13. LEASES

The Company has operating lease obligations for office space at its headquarters location.

The various leases have the following characteristics:

The Company renewed a three-year operating lease for office space in February 2024, which will expire January 31, 2027. The terms of the agreement call for an annual 3% escalation in rents and one three-year renewal option at market rates.

The Company entered into a 63- month operating lease for office space in April 2020, which will expire June 30, 2025.

Rent expense under the three operating agreements totaling $195,266 for the year ended June 30, 2025 and $203,227 for the transition period ended June 30, 2024 was charged to operations during the fiscal year ended June 30, 2025 and the transition period ended June 30, 2024, respectively. The following is the future minimum payments required by the office lease agreements in effect at June 30, 2025:


2026		118,597
2027		70,377
Total minimum lease payments		188,974
Less interest factor		(6,245)
Total operating lease liability		182,729
Less operating lease liability - current portion		(111,983)
Operating lease liability - long term portion	$	70,746

As disclosed in Note 2, the Company adopted ASU No. 2016-02, Leases (Topic 842), which requires leases with durations greater than 12 months to be recognized on the statement of financial condition. The Company uses its estimated cost-of-capital at lease commencement as its interest rate, as the operating leases do not provide readily determinable implicit interest rates.

The following table presents the Company’s lease-related assets and liabilities as of June 30, 2025:


	June 30,		June 30,
	2025		2024

Operating lease ROU Asset - February 9, 2024	$	179,267	$	395,063
Increase		—		—
Decrease		—		(68,727)
Operating lease ROU Asset - Ending Balance	$	179,267	$	326,336

Operating lease liability - Short Term	$	111,983	$	149,499
Operating lease liability - Long Term		70,746		182,729
Operating lease liability - Total	$	182,729	$	332,228

The following table presents the weighted-average remaining lease term and weighted-average discount rates related to the Company’s operating leases as of June 30, 2025 and 2024:


	June 30,		June 30,
	2025		2024
Weighted average remaining lease term	1.58	years	2.35	years
Weighted average discount rate	5.00	%	4.97	%

STOCKHOLDERS' EQUITY (DEFICIT)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' EQUITY (DEFICIT)

NOTE 10. STOCKHOLDERS’ DEFICIT

Preferred Stock — The Company is authorized to issue 25,000,000 shares of Preferred Stock with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At September 30, 2025 and June 30, 2025, there were no shares of Preferred Stock issued or outstanding.

Common stock — The Company is authorized to issue 500,000,000 shares of Common Stock. Holders of the Company’s Common Stock are entitled to one vote for each share. At September 30, 2025 and June 30, 2025, there were 126,819,145 and 40,165,603 shares of Common Stock outstanding, respectively.

The Common Stock commenced trading on the NYSE American LLC (“NYSE American”) under the symbol “ATCH” on February 12, 2024. AtlasClear Holdings’ public warrants (the “Public Warrants”) commenced trading on the over-the-counter market (the “OTC”) under the symbol “ATCH WS” on February 12, 2024.

On July 17, 2025, the Company issued 800,000 shares of Common Stock to Sandip I. Patel, P.A., a law firm that is wholly owned by Sandip I. Patel, the Company’s General Counsel, Chief Financial Officer and a member of the Company’s board of directors, as consideration for legal and consulting services provided to the Company prior to his employment. The shares were valued based on the closing price of the date of issuance of $0.21 for a total value of $169,920.

On August 11, 2025, the Company issued 200,000 shares of Common Stock as consideration for $40,000 in open invoices to a service provider.

Pursuant to a Software As A Services License Agreement, as payment in shares for services rendered during the three months period ended September 30, 2025, the Company issued 356,901 shares of Common Stock valued at the closing price on the date of issuance of $0.162 per share, resulting in compensation expense of $57,821.

Refer to Notes 6 and 8 for details regarding shares issued during the three months ended September 30, 2025 and 2024.

NOTE 14. STOCKHOLDERS’ EQUITY (DEFICIT)

Preferred Stock — The Company is authorized to issue 25,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At June 30, 2025 and June 30, 2024, there were no shares of preferred stock issued or outstanding.

Common stock — The Company is authorized to issue 500,000,000 shares of common stock with a par value of $0.0001 per share. Holders of the Company’s common stock are entitled to one vote for each share. At June 30, 2025 and June 30, 2024, there were 40,165,603 and 207,585, respectively.

In connection with the Closing, each share of Quantum’s common stock (“Quantum Common Stock” or “Public Shares”) that was outstanding and had not been redeemed was converted into one share of Common Stock. Each outstanding public warrant to purchase Quantum Common Stock became a warrant to purchase one-half of a share of Common Stock. Each outstanding warrant to purchase Quantum Common Stock initially issued in a private placement in connection with Quantum’s initial public offering became a warrant to purchase one share of Common Stock.

The Common Stock commenced trading on the NYSE American LLC (“NYSE”) under the symbol “ATCH” on February 12, 2024. AtlasClear Holdings’ warrants commenced trading on the over-the-counter market (the “OTC”) under the symbol “ATCH WS” on February 12, 2024.

Refer to Note 8, 9, 11 and 12 for details regarding shares issued during the year ended June 30, 2025.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

WARRANTS

12 Months Ended

Jun. 30, 2025

WARRANTS

WARRANTS

NOTE 15. WARRANTS

As of June 30, 2025 and June 30, 2024, there are 20,125,000 Public Warrants outstanding, each Public Warrant entitles the holder to purchase one-half of one share of common stock at an exercise price of $690 post reverse split per whole share, that are classified and accounted for as equity instruments. The Public Warrants are now exercisable. No Public Warrants will be exercisable for cash unless the Company has an effective and current registration statement covering the shares of common stock issuable upon exercise of the warrants and a current prospectus relating to such shares of common stock. Notwithstanding the foregoing, if a registration statement covering the shares of common stock issuable upon exercise of the Public Warrants is not effective within 120 days from the closing of a Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.

Once the warrants become exercisable, the Company may redeem the Public Warrants:

●

in whole and not in part;

●

at a price of $0.60 per warrant;

●

at any time after the warrants become exercisable;

●

upon not less than 30 days’ prior written notice of redemption;

●

if, and only if, the reported last sale price of the shares of common stock equals or exceeds $990 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations), for any 20 trading days within a 30 trading day period ending on the third business day prior to the notice of redemption to warrant holders; and

●

if, and only if, there is a current registration statement in effect with respect to the shares of common stock underlying the warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption.

If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuance of common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants.

In addition, if (x) the Company issues additional common stock or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $552 per share of common stock (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the initial stockholders or their affiliates, without taking into account any Founder Shares or Private Warrants held by the initial stockholders or their affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and income thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of its common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates its Business Combination (such price, the “Market Value”) is below $570 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of, the Market Value and Newly Issued Price, and the $990 per share redemption trigger price will be adjusted (to the nearest cent) to be equal to 165% of the higher of the Market Value and the Newly Issued Price.

As of June 30, 2025 and June 30, 2024, there are 6,153,125 Private Warrants to purchase an equal number of common shares that are outstanding that are classified and accounted for as derivative liabilities. Under this accounting treatment, the Company is required to measure the fair value of the Private Warrants at the end of each reporting period as well as re-evaluate the treatment of the Private Warrants and recognize changes in the fair value from the prior period in the Company’s operating results for the current period. The Private Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that (i) each private warrant is exercisable for one share of common stock at an exercise price of $690 post reverse split per share, and (ii) the Private Warrants will be non-redeemable and may be exercised on a cashless basis, in each case so long as they continue to be held by the initial purchasers or their permitted transferees. Additionally, the Private Warrants will be exercisable for cash or on a cashless basis, at the holder’s option, and will be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

On the Closing Date, the Company, AtlasClear Holdings and CST entered into that certain Assignment, Assumption and Amendment Agreement (the “New Warrant Agreement”). The New Warrant Agreement amends that certain Warrant Agreement, dated as of February 4, 2021, by and between the Company and CST (the “Existing Warrant Agreement”), to provide for the assignment by the Company of all its rights, title and interest in the warrants of the Company to AtlasClear Holdings. Pursuant to the New Warrant Agreement, all Company warrants under the Existing Warrant Agreement will no longer be exercisable for shares of Quantum Common Stock, but instead will be exercisable for shares of Common Stock.

INCOME TAX

12 Months Ended

Jun. 30, 2025

INCOME TAX

INCOME TAX

NOTE 16. INCOME TAX

The Company accounts for income taxes using an asset and liability approach. Under this method, the tax provision includes taxes currently due plus the net change in deferred tax assets and liabilities. Deferred tax assets and liabilities arise from temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated financial statements, as well as from net operating loss and tax credit carryforwards. Deferred tax amounts are determined by using the tax rates expected to be in effect when the taxes will actually be paid or refund received, as provided for under currently enacted tax law. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, is not expected to be realized.

The benefit (provision) for income taxes consisted of the following for the periods indicated:


	June 30, 2025		June 30, 2024
Current Tax:
Federal	$	—	$	—
State		1,556		3,170
Total current		1,556		3,170

Deferred Tax:
Federal		(209,219)		(546,276)
State		(51,718)		(26,630)
Total deferred		(260,937)		(572,906)

Total benefit on income taxes	$	(259,381)	$	(569,736)

The benefit from or provision for income taxes differs from the amount computed by applying the federal statutory income tax rate to the Company’s loss or income before income taxes as follows for the periods indicated:


	June 30, 2025		Rate
Tax at Statutory rate (21%)	$	1,153,091	21.00	%

Permanent Differences:
Change in fair value of warrant liability	$	(38,765)	(0.71)	%
Meals		2,836	0.05	%
Entertainment		34	0.00	%
Chane in fair value of convertible note		(837,981)	(15.26)	%
Change in fair value of Long-Term and Short-Term Investor Notes		(2,597,515)	(47.31)	%
Change in fair value of Earnout Liability		(195,090)	(3.55)	%
Change in fair value of Subscription Agreement		13,503	0.25	%
Change in fair value of Stock Payable		(48,887)	(0.89)	%
Change in fair value of Tau Agreement		85,597	1.56	%
Change in fair value of Tau commitment fee		(10,536)	(0.19)	%
Change in fair value of WDCO sellers convertible note		(10,363)	(0.19)	%
Change in fair value of WDCO Share payable		176,353	3.21	%
Change in statutory rate		13,123	0.24	%
Return To Provision		(1,477,734)	(26.91)	%
State Tax – Net of Federal Benefit		(400,312)	(7.29)	%
State Minimum Tax – Net of Federal Benefit		1,229	0.02	%
Chang in Valuation Allowance – State		441,782	8.05	%
Chang in Valuation Allowance - Federal		1,752,730	31.92	%
Net adjustments - Federal		181,158	3.30	%
–Goodwill intangible DTA recognized as part of acquisition		1,536,366	27.98	%
Income tax benefit	$	(259,381)	(4.72)	%


	June 30, 2024		Rate
Tax at Statutory rate (21%)	$	(25,376,496)	21.00	%

Permanent Differences:
Change in fair value of NRA liability	$	34,571	(0.03)	%
Meals		1,769	0.00	%
Entertainment		161	0.00	%
Nondeductible transaction costs		1,891,691	(1.57)	%
Change in fair value of Long-Term and Short-Term Investor Notes		2,353,692	(1.95)	%
Change in fair value of Secured Convertible Note		753,039	(0.62)	%
Change in fair value of Earnout Liability		280,350	(0.23)	%
Change in fair value of Subscription Agreement		8,147	(0.01)	%
Change in fair value of Stock Payable		(206,865)	0.17	%
Loss on AtlasClear acquisition		18,142,481	(15.01)	%
Stock Compensation Expense		307,157	(0.25)	%
Extinguishment of Accrued Liabilities		(184,689)	0.15	%
Change in fair value of WDCO Share payable		683,941	(0.57)	%
Return To Provision		(477,461)	0.40	%
State Tax – Net of Federal Benefit		(220,234)	0.18	%
State Minimum Tax – Net of Federal Benefit		2,504	0.00	%
Chang in Valuation Allowance – State		499,331	(0.41)	%
Chang in Valuation Allowance - Federal		937,175	(0.78)	%
Income tax benefit	$	(569,736)	0.47	%

The change in the Company’s effective tax rate in the current year, as compared to the prior year, was primarily due to the addition of the state tax provision.

Deferred income taxes reflect the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities were as follows for the periods indicated:


	June 30, 2025		June 30, 2024
Deferred Tax Assets:
Fixed Assets	$	3,881	$	261
Business Combination Expenses		533,602		530,560
IRC Sec. 195 Start-Up Costs		896,917		956,768
Allowance for Bad Debt		102,733		3,820
Accrued Contingent Liability		25,611		25,465
Lease Liability (ASC 842)		46,799		84,602
IRC Sec. 1231 Losses		1,775		1,774
Net Operating Loss		3,612,862		1,361,541
Total Deferred Tax Asset		5,224,180		2,964,791

Deferred Tax Liabilities:
Intangible Assets		3,312,054		5,167,729
ROU Lease Asset (ASC 842)		45,912		83,102
State Tax - Current		526		526
State Tax - Deferred		89,732		110,452
Total Deferred Tax Liability		3,448,224		5,361,809
Net Deferred Tax Asset/(Liability) before Valuation allowance		1,775,956		(2,397,018)
Valuation Allowance		(5,043,381)		(2,848,868)
Net Deferred Tax Asset/(Liability)	$	(3,267,425)	$	(5,245,886)

Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets (“DTA”). Under ASC 740, the guidance requires an analysis of deferred tax assets to determine the realizability of deferred tax assets. Deferred tax assets require a valuation allowance if its more-likely-than-not, greater than 50% likelihood that some portion, or all, of the deferred tax assets will not be realized in the near future. The analysis is based on the weight of all available evidence, both positive and negative evidence. Management has considered all available positive and negative evidence in performing an assessment as to the need for a deferred tax asset valuation allowance.

The negative evidence considered included:

●

Tax net operating loss carryforwards generated in the current year.

●

The Company has deemed to begin business operations in the current year and is no longer considered a startup company pursuant to IRC Sec. 195. As a result, the company is eligible to start amortizing previously capitalized startup costs for income tax purposes, which will generate current and future tax deductions.

The positive evidence considered included:

●

The company has had taxable income in the most recent previous tax years.

On the basis of this evaluation, as of June 30, 2025, a valuation allowance of $5.03 million has been recorded because management has concluded that it is more likely than not that such DTA will ultimately not be realized in the near future. The amount of the DTA considered realizable, however, could be adjusted in future years if estimates of future taxable income during the carryforward period are reduced or increased, or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as projections for growth.

The Company’s policy is to record interest and penalties related to unrecognized tax benefits in general and administrative expenses. The Company has not recorded any unrecognized tax benefits, or related interest and penalties, as of the period ended June 30, 2025. Per discussions with the management, there are no significant fines/penalties for the period ended June 30, 2025 and there are no new audits or any open audits as of June, 30 2025.

For financial statement disclosure of tax positions taken or expected to be taken on a tax return, the impact of an uncertain income tax position on the income tax return is recognized at the largest amount that is more-likely than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. There was no recognition of uncertain tax positions required for the period ended June 30, 2025. Based upon review of the federal and state return for the open years and review of the draft financial statements for the period ended June 30, 2024, there are no material uncertain tax positions that require financial statement disclosure. The Company has federal income tax net operating loss (“NOL”) carryforwards of $13.95 million as of June 30, 2025. The net operating losses can be carried forward indefinitely. The Company also has various state NOL carryforwards of $14.82 million as of June 30, 2025 which are expected to expire beginning in 2044. The Company’s NOLs may be limited under Section 382 of the Internal Revenue Code (“IRC”). NOLs are limited when there is a significant ownership change as defined by the IRC Section 382. The Company has not yet determined whether an ownership change has occurred that could limit the availability of its net operating loss carryforwards into 2026.

- Definition

The entire disclosure for income tax.

+ References

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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

FAIR VALUE MEASUREMENTS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

NOTE 12. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

●

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●

Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

●

Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2025 and June 30, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


		September 30,		June 30,
Description	Level	2025		2025
Assets:
Trading securities	1	$	5	$	5

Liabilities:
Subscription agreement	3	$	691,321	$	2,489,945
Warrant liability – Private Warrants	3	$	184,594	$	123,062
Earnout liability	3	$	11,485,000	$	11,369,000
Convertible notes Chardan derivative	3	$	—	$	103,185
Merger financing derivative	3	$	—	$	63,696
Tau agreement	3	$	—	$	539,787
Debentures – derivative	3	$	1,189,955	$	—
Convertible Notes – derivative	3	$	435,027	$	—

Subscription Agreement

On February 9, 2024, the Registrant entered into the Winston & Strawn Agreement, as described in Note 8.

The Winston & Strawn Agreement is considered a variable-share obligation under ASC Topic 480 (“Distinguishing Liabilities from Equity”). The Winston & Strawn Agreement meets the requirements for classification under ASC 480 and as a result is required to be accounted for as a liability under ASC 480 and is presented as such on the Condensed Consolidated Balance Sheets. The Company will record a change in fair value on each reporting period until settlement in its Condensed Consolidated Statement of Operations. See Note 8 for further discussion.

As of September 30, 2025 the Company had not issued the shares as stipulated under the agreement and, as such, the Company determined that utilizing a Monte Carlo model was no longer appropriate considering the economic nature of the contract. The Company anticipates making cash payments to settled the obligations. As such, the Winston & Strawn Agreement was valued using the Discounted Cash flow approach to better determine the fair value of the Winston & Strawn Agreement. The agreement does not have any specific provision regarding default. The key valuation input under the discounted cash flow approach was 11% discount rate applied to the anticipated cash out flows over a year.

The key inputs into the Monte Carlo model for the Subscription Agreement were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Equity volatility		167.7	%
Risk-free rate		4.21	%

Warrant Liability

The private placement warrants originally issued by Quantum and assumed by the Company in connection with the Business Combination (the “Private Warrants”) were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liability in the consolidated statements of operations.

The Private Warrants were, initially and as of the end of each subsequent reporting period, valued using a lattice model, specifically a Black-Scholes model, which is considered to be a Level 3 fair value measurement. The primary unobservable input utilized in

determining the fair value of the Private Warrants is the expected volatility of the Company’s Common Stock. The expected volatility of the Company’s Common Stock was determined based on the implied volatility of the publicly traded Public Warrants.

The key inputs into the Black-Scholes model for the Private Warrants were as follows:


	September 30,			June 30,
Input	2025			2025
Market price of public shares	$	0.51		$	0.19
Risk-free rate		3.59	%		3.67	%
Dividend yield		0.00	%		0.00	%
Volatility		149.4	%		167.7	%
Exercise price	$	689.86		$	689.86
Effective expiration date		February 2029			February 2029

Earnout Liability

The liability associated with the Earnout Shares was, initially as of February 9, 2024, valued using a Monte Carlo simulation to determine if and when the revenue hurdles would be achieved. The revenue volatility and revenue to equity correlation was based upon the same guideline public companies. The Monte Carlo simulation was performed simultaneously on both the share price and revenue to account for the correlation between revenue and equity.

The key inputs into the Monte Carlo model for the Earnout liability were as follows:


	September 30,			June 30,
Input	2025			2025
Market price of public shares	$	0.51		$	0.19
Revenue volatility		12.00	%		12.00	%
Discount factor for revenue		9.95	%		9.31	%

Convertible Note Derivatives

The conversion derivative, associated with Short-Term Notes, Long-Term Notes and the Chardan Note was accounted for as a liability in accordance with ASC 815-40. The conversion derivative liability was measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of conversion derivative liability in the consolidated statements of operations. The convertible note derivative is made up of the fair value of the embedded conversion option included in the Long-Term Notes and the Chardan Note with a fair value as of September 30, 2025 of $0, and $0. The fair value of the embedded conversion option included in the Long-Term Notes and the Chardan Note with a fair value as of June 30, 2025 of $103,185 and $0, respectively, totaling $103,185.

Long-Term Notes

As of June 30, 2025 the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Long-Term Notes at $103,185. During the three months ended September 30, 2025 the Long-Term Notes were settled in full as such the derivative was settled in full with a zero value as of September 30, 2025.

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026

Chardan Note

As of June 30, 2025 the conversion feature of the Chardan Note was valued using Monte Carlo model resulting in the fair value of the conversion option at $0. During the three months ended September 30, 2025 the Chardan Note was fully converted into shares and was settled in full as such the derivative was settled in full with a zero value as of September 30, 2025.

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.32	%
Discount rate		12.43	%
Probability of default		5.9	%
Recovery rate		47.6	%
Effective expiration date		September 30, 2025

Secured Convertible Note

As a result of the changes in stock price, the limitation on authorized shares to comply with the conversion option, the Company determined that as of June 30, 2025 valuation of the Secured Convertible Note conversion feature now was required to be bifurcated under ASC 815 and, as such, the Company fair valued the embedded derivative. As of June 30, 2025, the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Secured Convertible Note at $0. See Note 9 for additional information. The Company has sufficient shares authorized and, as such, as of September 30, 2025 the Company no longer requires bifurcation of the conversion feature.

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		3.63	%
Discount rate		12.02	%
Probability of default		44.0	%
Recovery rate		47.6	%
Volatility		167.7	%
Effective expiration date		January 2028

Merger Financing Note

As of June 30, 2025 the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Merger Financing Note at $63,696. During the three months ended September 30, 2025, the Merger Financing Note was settled in full as such the derivative was settled in full with a zero value as of September 30, 2025.


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026

Tau Agreement

As discussed in Note 8 the Tau Agreement no longer has share available to utilize and management does not intend to utilize the ELOC. As such as of September 30 2025 was deemed to be zero. As of June 30, 2025 both the Commitment Amount and the Commitment Fee were valued using Monte Carlo model resulting in the fair value of the Commitment Amount at $539,448 and the Commitment Fee at $337.

The key inputs into the Monte-Carlo model for the Commitment Amount as of issuance date of June 30, 2025 was as follows:


	June 30,
Input	2025
Anticipated Monthly Advance Amounts	$	40,000
Risk-free rate		3.75	%
Volatility		167.7	%
Effective expiration date		July 2026

Debenture Derivative

On August 4, 2024 the Company issued the Debenture as discussed in Note 8. The Company determined that the conversion feature was required to be bifurcated under ASC 815 and, as such, the Company fair valued the embedded derivative. As of September 30, 2025 and August 4, 2025, the issuance date, the Debenture was valued using Scenario Based Methodology model resulting in the fair value of the conversion option included in the Debenture embedded derivative at $1,189,955 and $352,067, respectively. See Note 8 for additional information.

The key inputs into the Monte-Carlo model for the conversion derivative as of September 30, 2025 and August 4, 2025 were as follows:


	September 30,			August 4,
Input	2025			2025
Market price of public shares	$	0.51		$	0.22
Risk-free rate		3.66	%		3.75	%
Discount rate		10.99	%		15.41	%
Probability of default		15.0	%		15.0	%
Recovery rate		42.9	%		42.9	%
Volatility		149.4	%		165.9	%
Effective expiration date		August 2026			August 2026

Convertible Note Derivative

On September 16, 2024 the Company issued Convertible Notes as discussed in Note 8. The Company determined that the conversion feature was required to be bifurcated under ASC 815 and, as such, the Company fair valued the embedded derivative. As of September 30, 2025 and September 16, 2025, the issuance date, the Convertible Notes derivative was valued using a Scenario Based methodology model resulting in the fair value of the embedded derivatives included in the Convertible Notes at $435,027 and $382,154, respectively. See Note 8 for additional information.

The key inputs into Scenario Based Method for the conversion derivative as of September 30, 2025 and September 16, 2025 were as follows:


	September 30,		September 16,
Input	2025		2025
Discount rate	10.96	%	11.21	%
Probability of default	8.27	%	8.98	%
Recovery rate	42.90	%	42.90	%
Effective expiration date	March 2026		March 2026

The following table presents the changes in the fair value of the following:


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2025	$	123,062	$	539,787
Write of receivable		—		(205,238)
Change in valuation inputs or other assumptions		61,531		(334,549)
Fair value as of September 30, 2025	$	184,593	$	—


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2024	$	307,656	$	—
Initial measurement		—		1,090,949
Transferred to equity		—		(303,000)
Change in valuation inputs or other assumptions		(246,125)		184,559
Fair value as of September 30, 2024	$	61,531	$	972,508


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2025	$	103,185	$	11,369,000
Change in valuation inputs or other assumptions		(103,185)		116,000
Fair value as of September 30, 2025	$	—	$	11,485,000


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2024	$	16,462,690	$	12,298,000
Change in valuation inputs or other assumptions		(14,320,179)		340,000
Fair value as of September 30, 2024	$	2,142,511	$	12,638,000


	Subscription		Merger Financing
	Agreement		Derivative
Fair value as of June 30, 2025	$	2,489,945	$	63,696
Change in valuation inputs or other assumptions		(1,798,624)		(63,696)
Fair value liability as of September 30, 2025	$	691,321	$	—


	Subscription		Merger Financing
	Agreement		Derivative
Fair value as of June 30, 2024	$	2,425,647	$	—
Initial measurement		—		113,044
Change in valuation inputs or other assumptions		34,841		63,195
Fair value liability as of September 30, 2024	$	2,460,488	$	176,239


			Secured
	Contingent		Convertible
	Guarantee		Derivative
Fair value as of June 30, 2024	$	3,256,863	$	—
Shares issued as partial payment		(1,210,290)		—
Change in valuation inputs or other assumptions		839,774		89,535
Exchange to Merger financing note		(2,886,347)		—
Fair value as of September 30, 2024	$	—	$	89,535


			Convertible
	Debenture		Notes
	Derivative		Derivative
Fair value as of June 30, 2024	$	—	$	—
Initial measurement		352,067		382,154
Change in valuation inputs or other assumptions		837,888		52,873
Fair value as of June 30, 2025	$	1,189,955	$	435,027

There were no transfers between levels during the three months ended September 30, 2025 and 2024.

NOTE 17. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

●

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

●

Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

●

Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2025 and June 30, 2024, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


		June 30,		June 30,
Description	Level	2025		2024
Assets:
Trading securities	1	$	5	$	—

Liabilities:
Subscription agreement	3	$	2,489,945	$	2,425,647
Contingent Guarantee	3	$	—	$	3,256,863
Warrant liability – Private Warrants	3	$	123,062	$	307,656
Earnout liability	3	$	11,369,000	$	12,298,000
Convertible notes derivative	3	$	103,185	$	16,462,690
Merger financing derivative	3	$	63,696	$	—
Tau agreement	3	$	539,787	$	—

Subscription Agreement

On February 9, 2024, the Registrant entered into a Subscription Agreement and Discharge Agreement with Winston & Strawn LLP (“Winston”) Calculator New Pubco, Inc. and Quantum, as described in Note 9.

The Subscription Agreement is considered a variable-share obligation under ASC Topic 480 (“Distinguishing Liabilities from Equity”). The Subscription Agreement meets the requirements for classification under ASC 480 and as a result is required to be accounted for as a liability under ASC 480 and is presented as such on the Consolidated Balance Sheets. The Company will record a change in fair value on each reporting period until settlement in its Consolidated Statement of Operations. See note 9 for further discussion.

The key inputs into the Monte Carlo model for the Subscription Agreement were as follows:


	June 30,			June 30,
Input	2025			2024
Market price of public shares	$	0.19		$	62.40
Equity volatility		167.7	%		26.2	%
Risk-free rate		4.21	%		5.05	%

Contingent Guarantee

In connection with the acquisition of Wilson-Davis, Founder shares were transferred to cover a cash deficit of $4,000,000. The share has a make-whole provision that require to be accounted for under ASC 480. The Company has valued the obligation as of June 30, 2024 of $3,256,863 based on the cash value that would need to be renumerated by the Company. The value of the cash that would be paid was deemed to be the fair value of the contingent guarantee. The Company issued shares valued at $1,210,290 during the nine months ended June 30, 2025 and based on the value of shares sold as of August 8, 2024 the Company was obligated to repay $2,886,347 under the contingent guarantee, resulting in a change in fair value of $839,775. On August 9, 2024 the Company issued convertible note to modify the repayment conditions, resulting in the extinguishment of the contingent liability and recognizing the fair value of the convertible note agreement referred to as Merger financing, see Note 9 for further discussion and below.

Warrant liability

The Private Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on the consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liability in the consolidated statements of operations. See note 15 for further discussion.

The Private Placement Warrants were, initially and as of the end of each subsequent reporting period, valued using a lattice model, specifically a Black-Scholes model, which is considered to be a Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the Private Placement Warrants is the expected volatility of the Company’s common stock. The expected volatility of the Company’s common stock was determined based on the implied volatility of the publicly traded Public Warrants.

The key inputs into the Black-Scholes model for the Private Warrants were as follows:


	June 30,		June 30,
Input	2025		2024
Market price of public shares	$	0.19	$	62.40
Risk-free rate		3.67		4.27	%
Dividend yield		0.00		0.00	%
Volatility		167.7		58.7	%
Exercise price	$	689.86	$	689.86
Effective expiration date		February 29		February 29

Earnout Liability

The Earnout liability was, initially and as of February 9, 2024, valued using a Monte Carlo simulation to determine if and when the revenue hurdles would be achieved. The revenue volatility and revenue to equity correlation was based upon the same guideline public companies. The Monte Carlo simulation was performed simultaneously on both the share price and revenue to account for the correlation between revenue and equity.

The key inputs into the Monte Carlo model for the Earnout liability were as follows:


	June 30,			June 30,
Input	2025			2024
Market price of public shares	$	0.19		$	62.40
Revenue volatility		12.00	%		15.00	%
Discount factor for revenue		9.31	%		9.69	%

Convertible Note Derivatives

The Conversion derivative, associated with Short-term notes, Long-Term notes, and the Chardan Note was accounted for as a liability in accordance with ASC 815-40. The Conversion derivative liability was measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of Conversion derivative liability in the consolidated statements of operations. The Convertible note derivative is made up of the fair value of the embedded conversion option included in the Short-term notes, Long-Term notes, and the Chardan Note with a fair value as of June 30, 2025 of $0, $103,185 and $0, respectively, totaling $103,185. As of June 30, 2024 of $4,807,692, $7,664,613 and $3,990,385, respectively, totaling $16,462,690.

Short-Term Note

On February 9, 2024, the Company issued short-term notes to the former officers and directors of Wilson-Davis. The short-term notes have a conversion feature that qualifies for derivative treatment in accordance with ASC 815-40. On February 9, 2024, and June 30, 2024, the Company valued the derivatives using a Black-Scholes model which is considered to be a Level 3 fair value measurement. The conversion feature is deemed to include an embedded derivative that requires bifurcation and separate account. As such, the Company ascertained the value of the conversion option as if separate from the convertible issuance and appropriately recorded that value as a derivative liability with the offset being a discount to the note. The discount will be amortized as interest expense over the term of the short-term note(s). The derivative liability will be revalued at each reporting period with the change being charged to the income statement. The original derivative liability – for the short term note notes was valued at $487,329. On June 30, 2024, a Black-Scholes calculation was performed (see below chart) and the value of the fair value of the derivative liability – convertible notes increased $4,320,363 to $4,807,692. The original $487,929 discount was amortized over the 90-day maturity. As of June 30, 2024, the Company did not repay the short-term notes, as such has incurred penalty interest from 9% to 13% until the note is repaid. The note was due on demand.

As of June 30, 2025, the sellers requested conversion of all principal and interest as such the shorth term loan was fully settled. See Note 9 for additional information.

The key inputs into the Black-Scholes model for the Conversion derivative were as follows:




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		5.49	%
Dividend yield		0.00	%
Volatility		14,643.0	%
Exercise price	$	0.99
Effective expiration date		May 2024

Long-Term Note

On February 9, 2024, the Company issued long-term notes to the former officers and directors of Wilson-Davis. The long-term notes have a conversion feature that qualifies for derivative treatment in accordance with ASC 815-40. On February 9, 2024 and June 30, 2024, the Company valued the derivatives using a Black-Scholes model which is considered to be a Level 3 fair value measurement.The conversion feature is deemed to include an embedded derivative that required bifurcation and separate accounting. As such, the Company ascertained the value of the conversion option as if separate from the convertible issuance and appropriately recorded that value as a derivative liability with the offset being a discount to the notes. The discount will be amortized as interest expense over the term of the notes. The derivative liability will be revalued at each reporting period with the change being charged to Derivative liability – convertible notes. The original derivative liability – for the long term note notes was valued at $776,919. On June 30, 2024, a Black-Scholes calculation was performed (see below chart) and the value of the fair value of the derivative liability – convertible notes increased $6,887,694 to $7,664,613. The original $776,919 discount will be amortized over the maturity.

As a result of the changes in stock price, the Company determined that as of June 30, 2025 valuation of the convertible note conversion feature under Black-Scholes was no longer appropriate as it does not take into account the probability of multiple components. As such as of June 30, 2025 the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the long term loan at $103,185. See Note 9 for additional information.

The key inputs into the Monte-Carlo model for the Conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026

The key inputs into the Black-Scholes model for the Conversion derivative were as follows:




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		4.90	%
Dividend yield		0.00	%
Volatility		14,461	%
Exercise price	$	0.99
Effective expiration date		February 2026

Chardan Note

In connection with the Closing, AtlasClear Holdings and Chardan agreed that the fee, in the amount of $7,043,750, payable by Quantum to Chardan upon the Closing pursuant to the terms of the business combination marketing agreement entered into in connection with Quantum’s initial public offering, would be waived in exchange for the issuance by AtlasClear Holdings to Chardan of the Original Chardan Note in the aggregate principal amount of $4,150,000. The Original Chardan Note was issued by AtlasClear Holdings at the Closing. The Original Chardan Note had a stated maturity date of February 9, 2028. Interest accrued at a rate per annum equal to 13%, and was payable quarterly on the first day of each calendar quarter. On each interest payment date, the accrued and unpaid interest would have been, at the election of AtlasClear Holdings, either paid in cash or, subject to the satisfaction of certain conditions, in shares of Common Stock, at a rate equal to 85% of the VWAP for the trading day immediately prior to the applicable interest payment date. On October 23, 2024, the Company, Quantum Ventures, Chardan and Chardan Quantum LLC entered into the Settlement Agreement. In connection with the Settlement Agreement, Chardan exchanged the Chardan Note for an amended non-interest bearing, convertible note in the aggregate principal amount of $5,209,764 (as amended, the “Chardan Note”). While the Chardan Note does not bear interest, it can be converted from time to time by Chardan into shares of Common Stock, on terms substantially similar to the conversion provisions in the Original Chardan Note, and any remaining outstanding principal is to be repaid in full on the same maturity date as the Original Chardan Note.

The Chardan Note qualifies for derivative treatment in accordance with ASC 815-40. On February 9, 2024, the Company valued the derivatives using a Black-Scholes model which is considered to be a Level 3 fair value measurement. The original derivative liability – for the Chardan Note was valued at $404,483. On June 30, 2024, a Black-Scholes calculation was performed (see below chart) and the value of the fair value of the derivative liability – convertible notes increased $3,585,901 to $3,990,385. The original $404,483 discount will be amortized over the maturity. See Note 9 for additional information.

In addition, on each conversion date AtlasClear Holdings was required to pay to Chardan in cash (or, at AtlasClear Holding’s option and subject to certain conditions, a combination of cash and Common Stock) all accrued interest on the Chardan Note and all interest that would otherwise accrue on the amount of the Note being converted if such converted amount would be held to three years after the applicable conversion date.

As a result of the changes in stock price, the limitation on authorized shares to comply with the conversion option, the Company determined that as of March 31, 2025, valuation of the convertible note conversion feature under Black-Scholes was no longer appropriate as it does not take into account the probability of multiple components. As such, as of June 30, 2025, the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Chardan Note at $0. See Note 9 for additional information.

The key inputs into the Monte-Carlo model for the Conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.32	%
Discount rate		12.43	%
Probability of default		5.9	%
Recovery rate		47.6	%
Effective expiration date		September 30, 2025

The key inputs into the Black-Scholes model for the conversion derivative are as follows:




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		4.52	%
Dividend yield		0.00	%
Volatility		166,681.0	%
Exercise price	$	0.84
Effective expiration date		February 2028

Secured Convertible Note

As a result of the changes in stock price, the limitation on authorized shares to comply with the conversion option, the Company determined that as of June 30, 2025 valuation of the secured convertible note conversion feature now was required to be bifurcated under ASC 815 as such the Company fair valued the embedded derivative. As such as of June 30, 2025 the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Secured Convertible Note at $0. See Note 9 for additional information.

The key inputs into the Monte-Carlo model for the Conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		3.63	%
Discount rate		12.02	%
Probability of default		44.0	%
Recovery rate		47.6	%
Volatility		167.7	%
Effective expiration date		January 2028

Merger Financing

As discussed above under Contingent Guarantee, on August 9, 2024 the Company issued convertible note to modify the repayment conditions, resulting in the extinguishment of the contingent liability and recognizing the fair value of the convertible note agreement. As a result of the changes in stock price, the limitation on authorized shares to comply with the conversion option, the Company determined that the merger financing notes conversion feature was required to be bifurcated under ASC 815 as such the Company fair valued the embedded derivative. As such as of June 30, 2025 and August 9, 2024 the issuance date the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Merger financing notes at $63,696 and $113,044, respectively. See Note 9 for additional information.

The key inputs into the Monte-Carlo model for the Conversion derivative as of June 30, 2025 and August 9, 2024 were as follows:


	June 30,			August 9,
Input	2025			2024
Market price of public shares	$	0.19		$	16.20
Risk-free rate		4.13	%		4.78	%
Discount rate		15.63	%		16.98	%
Probability of default		14.3	%		25.4	%
Recovery rate		28.9	%		28.9	%
Volatility		167.7	%		37.2	%
Effective expiration date		February 2026			February 2026

Tau Agreement

As discussed in Note 9 the Tau Agreement has both a Commitment Amount and a Commitment fee that requires to be fair valued under ASC 815 and ASC 480, respectively. As such as of June 30 2025 and July 31, 2024 the issuance date both the Commitment Amount and the Commitment Fee were valued using Monte Carlo model resulting in the fair value of the Commitment Amount at $539,448 and $966,153, respectively and the Commitment Fee at $337 and $124,796, respectively.

The key inputs into the Monte-Carlo model for the Commitment Amount as of issuance date of June 30, 2025 and July 31, 2024 were as follows:


	June 30,			July 31
Input	2025			2024
Anticipated Monthly Advance Amounts	$	40,000		$	40,000
Risk-free rate		3.75	%		4.20	%
Volatility		167.7	%		40.3	%
Effective expiration date		July 2026			February 2027

The key inputs into the Monte-Carlo model for the Commitment Fee as of issuance date of, June 30, 2025 and July 31, 2024were as follows:


	June 30,			July 31,
Input	2025			2024
Market price of public shares	$	0.19		$	16.20
Risk-free rate		3.75	%		4.20	%
Volatility		167.7	%		40.3	%
Effective expiration date		February 2027			July 2026

The following table presents the changes in the fair value of the following:


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2024	$	307,656	$	—
Initial measurement		—		1,090,949
Fair value of advance requests		—		1,652,300
Transferred to equity		—		(1,911,472)
Change in valuation inputs or other assumptions		(184,594)		(291,990)
Fair value as of June 30, 2025	$	123,062	$	539,787


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2024	$	16,462,690	$	12,298,000
Change in valuation inputs or other assumptions		(16,359,505)		(929,000)
Fair value as of June 30, 2025	$	103,185	$	11,369,000


	Subscription		Contingent
	Agreement		Guarantee
Fair value as of June 30, 2024	$	2,425,647	$	3,256,863
Shares issued as partial payment		—		(1,210,290)
Change in valuation inputs or other assumptions		64,298		839,774
Exchanged to Merger financing note		—		(2,886,347)
Fair value as of June 30, 2025	$	2,489,945	$	—


	Merger		Secured
	Financing		Convertible
	Derivative		Derivative
Fair value as of June 30, 2024	$	—	$	—
Initial measurement		113,044		89,535
Change in valuation inputs or other assumptions		(49,348)		(89,535)
Fair value as of June 30, 2025	$	63,696	$	—

There were no transfers between levels during the year ended June 30, 2025 and the six months transition period ended June 30, 2024.

SEGMENT REPORTING

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SEGMENT REPORTING

SEGMENT REPORTING

NOTE 13. SEGMENT REPORTING

The Company operates as one reportable segment in accordance with ASC 280, Segment Reporting. The single reportable segment reflects the Company’s core business operations of securities broker and dealer, dealing in over-the-counter and listed securities.

The Chief Operating Decision Maker (CODM), identified as the Chief Financial Officer, who reviews financial performance and allocates resources on a consolidated basis. The Company’s internal reporting is prepared and reviewed as a single operating unit, without disaggregated information by product line, region, or customer type. Accordingly, the Company has determined that it operates in a single reportable segment.

The following table presents revenue and operating income (loss) for the periods presented:


	Three Months Ended		Three Months Ended
	September 30, 2025		September 30, 2024
Commissions	$	2,334,389	$	1,383,828
Vetting fees		371,700		365,383
Clearing fees		714,349		1,047,712
Net gain/(loss) on firm trading accounts		(111)		1,711
Other revenue		830,263		5,448
Total revenue	$	4,250,590	$	2,804,082
Loss from operations	$	(877,238)	$	(941,102)
Total assets	$	73,634,759	$	55,994,817

Corporate general and administrative expenses are not allocated to any specific operating component and are included within total operating income.

Segment Assets

The Company does not report separate asset information by segment to the CODM. However, in accordance with ASC 280-10-50-30, the Company has elected to disclose total segment assets, which are equal to consolidated total assets. The table above summarizes total assets.

NOTE 18. SEGMENT REPORTING

The Company operates as one reportable segment in accordance with ASC 280, Segment Reporting. The single reportable segment reflects the Company’s core business operations of securities broker and dealer, dealing in over-the-counter and listed securities.

The Chief Operating Decision Maker (CODM), identified as the Chief Executive Officer, who reviews financial performance and allocates resources on a consolidated basis. The Company’s internal reporting is prepared and reviewed as a single operating unit, without disaggregated information by product line, region, or customer type. Accordingly, the Company has determined that it operates in a single reportable segment.

The following table presents revenue and operating income (loss) for the periods presented:


			For the Transition
	Year Ended		Period Ended
	June 30, 2025		June 30, 2024
Commissions	$	5,937,532	$	2,679,673
Vetting fees		1,459,321		499,125
Clearing fees		3,165,714		756,393
Net gain/(loss) on firm trading accounts		6,580		10,046
Other revenue		287,465		56,246
Total revenue	$	10,856,612	$	4,001,483
Loss from operations	$	(4,917,281)	$	(14,268,826)
Total assets	$	60,892,833	$	57,466,554

Corporate general and administrative expenses are not allocated to any specific operating component and are included within total operating income.

Segment Assets

The Company does not report separate asset information by segment to the CODM. However, in accordance with ASC 280-10-50-30, the Company has elected to disclose total segment assets, which are equal to consolidated total assets. The table above summarizes total assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

SUBSEQUENT EVENTS

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 14. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the condensed consolidated financial statements were issued. Based upon this review the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, other than as described below.

Convertible Note Financing

On October 8, 2025, the Company entered into the Restated SPA with Funicular, which amended and restated in its entirety the securities purchase agreement, dated February 9, 2024, pursuant to which the Company had issued and sold to Funicular, in a private placement, the Secured Convertible Note, in the original principal amount of $6,000,000. Pursuant to the Restated SPA, the Company issued and sold to Funicular, for a purchase price of $10,000,000, the Restated Note, which amends and restates the Secured Convertible Note in its entirety. The principal amount of the Restated Note is $10,097,782, consisting of the $10,000,000 purchase price plus $97,782 in remaining outstanding principal under the Secured Convertible Note.

The Restated Note has a stated maturity date of October 8, 2030. Interest accrues at a rate per annum equal to 11%, and is payable semi-annually on each June 30 and December 31. On each interest payment date, the accrued and unpaid interest shall, at the election of the Company in its sole discretion, be either paid in cash or paid in-kind by increasing the principal amount of the Restated Note. In the event of an Event of Default (as defined in the Restated Note), in addition to Funicular’s other rights and remedies, the interest rate would increase to 14% per annum. The Restated Note is convertible, in whole or in part, into shares of the Company’s common stock at the election of the holder at any time at an initial conversion price of $0.75 per share (the “Conversion Price”). The Conversion Price is subject to adjustment if the Company issues or is deemed to issue shares of common stock at a price below the then-current conversion price (subject to certain exceptions), and is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like. The Restated Note contains covenants which, among other things, limit the ability of the Company and its subsidiaries to incur additional indebtedness, incur additional liens and sell its assets or properties.

The Restated Note is secured by a perfected security interest in substantially all of the existing and future assets of the Company and each Grantor (as defined in the Security Agreement, as defined below), including a pledge of all of the capital stock of each of the Grantors, subject to certain exceptions, as evidenced by (i) the security agreement, dated as of February 9, 2024 (the “Security Agreement”), among the Company, each of the Company’s subsidiaries and Funicular, and (ii) the guaranty, dated as of February 9, 2024 (the “Guaranty”), executed by each of the Company’s subsidiaries pursuant to which each of them has agreed to guaranty the obligations of the Company under the Restated Note and the other Loan Documents (as defined in the Restated Note), each of which was entered into in connection with the Funicular Note.

Pursuant to the Restated SPA, the Company agreed, among other things, that if the Restated Note becomes convertible into a number of shares of common stock in excess of 19.9% of the Company’s total number of shares of common stock outstanding, to seek the approval of its stockholders for the issuance of all shares of common stock issuable upon conversion of the Restated Note in excess of that amount, in accordance with the rules of the NYSE American.

Equity Financing

On October 8, 2025, the Company entered into the Equity SPA with certain institutional investors (each, an “Investor”), including Funicular, pursuant to which the Company agreed to issue and sell, in a private placement, 16,666,666 Units for a purchase price of $0.60 per Unit. Each Unit consists of one share of the Company’s common stock and one warrant (each, a “2025 Warrant”) to purchase common stock.

The 2025 Warrants are immediately exercisable on a cash basis or exchangeable on a cashless basis and will expire five years from the date of issuance. Each 2025 Warrant will be initially exercisable for one share of common stock at an initial exercise price of $0.75 per share, subject to adjustment for stock splits, distributions and the like (the “Initial Exercise Price”). The Initial Exercise Price is also subject to potential increase if the Company completes certain subsequent offerings at a price greater than the Initial Exercise Price while the 2025 Warrants remain outstanding. At any time after the issuance of the 2025 Warrants, the holder of the 2025 Warrants may exchange the 2025 Warrants on a cashless basis for a number of shares of common stock determined by multiplying the total number of shares with respect to which the 2025 Warrant is then being exercised by the Black Scholes Value (as defined in the 2025 Warrant) divided by the lower of the two closing bid prices of the common stock in the two days prior the time of such exercise.

In the event of a Fundamental Transaction (as defined in the 2025 Warrants), the holders of the 2025 Warrants will be entitled to receive upon exercise of the 2025 Warrants the kind and amount of securities, cash or other property that the holders would have received had they exercised the 2025 Warrants immediately prior to such Fundamental Transaction. Additionally, as more fully described in the 2025 Warrants, the holders of the 2025 Warrants will be entitled to receive consideration in an amount equal to the Black Scholes value of the 2025 Warrant in connection with a Fundamental Transaction. If the Company fails to timely deliver the shares of common stock issuable upon exercise of the 2025 Warrants, the Company will be subject to liquidated damages.

Subject to the provisions of the Equity SPA, if, during the 12-month period commencing on the date of the closing, the Company carries out one or more Subsequent Financings (as defined in the Equity SPA), each Investor that purchases $50,000 or more of Units will have the right to participate in an amount up to 100% of such Investor’s investment amount under the Equity SPA in any such securities offered by the Company, subject to certain exceptions.

The Company engaged Dawson James Securities, Inc. as the placement agent (the “Placement Agent”) with respect to the offering of the Note and the Units. The Company agreed to pay the Placement Agent’s fees totaling (i) 4.5% of the aggregate gross from the sale of the Restated Note, (ii) 6% of the aggregate gross proceeds from the sale of the Units to current or previous investors not introduced to the Company by the Placement Agent and (iii) 7% of the aggregate gross proceeds from the sale of the Units to investors introduced to the Company by the Placement Agent, and to reimburse the Placement Agent’s expenses (subject to a cap). The Company also agreed to issue warrants to purchase up to an aggregate of 1,000,000 shares of Common Stock to the Placement Agent and its designees.

$500,000 of the Units sold pursuant to the Equity SPA were purchased by Sixth Borough Capital Fund, LP, an entity controlled by Robert D. Keyser, Jr., who is a member of the Company’s board of directors and the Chief Executive Officer of the Placement Agent.

The closings of the issuance and sale of the Note and the Units occurred on October 9 through October 14, 2025, and the Company issued an aggregate of 16,666,666 shares of Common Stock.

At the closings, the Company entered into a registration rights agreement with the Investors (the “Registration Rights Agreement”), pursuant to which the Company agreed, among other things, to file one or more registration statements covering the resale of the shares of common stock included as part of the Units, as well as the shares issuable upon conversion of the Restated Note or exercise of the Warrants. The Company will be subject to liquidated damages if it fails to meet certain conditions set forth in the Registration Rights Agreement.

Issuances of Common Stock

On October 1, 2025, the Company and Interest Solutions entered into an amendment to the Interest Solutions Note whereby the conversion price floor of $2.00 was amended to $0.5627. As a result, on October 1, 2025, the Company issued 576,616 shares of Common Stock at a conversion price of $0.5627 in full settlement of $275,000 in principal and $49,462 of accrued interest.

On October 13, 2025, the Company and a vendor entered into a settlement agreement and release, whereas the Company agreed to issue 192,744 shares of Common Stock in settlement of $34,000 of a vendor payable balance.

On October 13, 2025 the Company issued 325,000 shares of Common Stock to consultants for services rendered. The shares were valued based on the date the date shares were issued for total compensation expenses of $132,372.

NOTE 19. SUBSEQUENT EVENTS

The Company evaluated subsequent events and transactions that occurred after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, other than described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements, other than as described below.

On August 4, 2025, the Company entered into a securities purchase agreement (“August-Securities Purchase Agreement”) with an institutional investor under which the Company agreed to issue and sell, in a private placement, Series A convertible debentures (, a “Debenture”) for an aggregate principal amount of $500,000, for a gross purchase price of $490,000, net of legal fees. The Debenture bear a 10% interest and mature on August 3, 2026. The holder is entitled to convert the unpaid Face Amount of this Debenture, plus accrued interest and penalties, any time following a Closing Date, at $0.15 per share. If, at any time after Closing, the Company receives financing from third party (excluding the Holder), the Company is required to pay to the Holder, in the form of cash, equity, or a combination of the two, solely at the discretion of the Holder, one hundred percent (100%) of the proceeds raised from the third party in excess of an aggregate amount of $10,000,000 (the “Threshold Amount”) until such time as the Face Amount of the Debenture has been paid in full. The Company agrees that, within sixty (60) calendar days after the Closing Date, the Company will file with the Securities and Exchange Commission (the “SEC”) (at the Company’s sole cost and expense) a registration statement, or an amendment to a previously-filed registration statement (as applicable, a “Registration Statement”) registering the resale of the Conversion Shares underlying the Debenture sold at such Closing.

On September 12, 2025, the Company received $100,000 as a good faith deposit towards the Hanire Purchase Agreement. The amendment to the agreement is currently being negotiated until fully consummated.

On September 16, 2025, September 19, 2025 and September 23, 2025, the Company entered into separate securities purchase agreements (each, a “September-Securities Purchase Agreement”) with certain institutional investors (each, an “Investor”) under which the Company agreed to issue and sell, in a private placement, convertible promissory notes (each, a “Note” and collectively, the “Notes”) for an aggregate principal amount of $6,000,000, for a gross purchase price of $5,000,000, reflecting a 20% original issue discount, before fees and other expenses. The Notes do not bear interest, and mature on the earlier of six months from issuance or the date that the Company completes a Qualified Financing (meaning an issuance and sale of capital stock raising gross proceeds of at least $10 million, as defined in the Notes). The Notes may be converted into equity, at each holder’s option, at the closing of a Qualified Financing, at the same per share price as the securities sold in the Qualified Financing. The Company intends to use the proceeds from the sale of the Notes for general corporate purposes and working capital. The Notes are subject to customary events of default and related remedies.

On September 19, 2025, the Company entered into employment agreements and amendments to employment agreements with each of John Schaible, the Company’s Executive Chairman, and Craig Ridenhour, the Company’s President, and on September 24, 2025, the Company entered into second amendments to such agreements with each such officer.

The employment agreements with Mr. Schaible and Mr. Ridenhour, as amended by such amendments (as so amended, the “Schaible Employment Agreement” and the “Ridenhour Employment Agreement,” respectively) provide for the employment of Mr. Schaible and Mr. Ridenhour as Executive Chairman and President, respectively, reporting to the Board, for an initial term of three years, subject to automatic successive one-year renewals unless either party provides written notice of non-renewal at least 60 days’ prior to the end of the then-current term. Each executive is entitled to receive an initial annual base salary of $400,000, subject to review at least annually and increase to $450,000 and $500,000 in the second and third years of the term, respectively. In addition, each executive is entitled to receive (i) a one-time cash signing bonus of $300,000, of which one-third is payable immediately and the balance is payable upon the earlier of (a) a minimum qualified cumulative financing of $5 million or (b) one-third at the end of the fourth quarter of 2025 and one-third at the end of the first quarter of 2026; and (ii) one-time stock grants of 700,000 shares and 286,842 shares on signing and July 1, 2026, respectively, in each case to vest on June 30 of the year following the grant. Each executive is also entitled to receive an annual bonus, provided that the Company is profitable and determined at the discretion of the Board, annual equity awards under the Company’s equity incentive plan, and up to five stock awards, each in an amount equal to 1% of the total number of the Company’s outstanding shares, vesting over three years, in the event the Company’s stock trading price reaches the following 10-day volume weighted average prices: $0.75, $1.00, $1.24, $1.49 and $1.74.

On September 24, 2025, the Company entered into an employment agreement with Sandip Patel (the “Patel Employment Agreement”), a member of the Board, pursuant to which Mr. Patel will be employed as the Company’s General Counsel and Chief Financial Officer, reporting to the Board, for an initial term of three years, subject to automatic successive one-year renewals unless either party provides written notice of non-renewal at least 60 days’ prior to the end of the then-current term. Mr. Patel is entitled to receive an initial annual base salary of $350,000, subject to review at least annually and increase to $400,000 and $450,000 in the second and third years of the term, respectively. In addition, Mr. Patel is entitled to receive a one-time cash signing bonus of $250,000, of which one-third is payable immediately and the balance is payable upon the earlier of (a) a minimum qualified cumulative financing of $5 million or (b) one-third at the end of the fourth quarter of 2025 and one-third at the end of the first quarter of 2026. Mr. Patel is also entitled to receive an annual bonus, provided that the Company is profitable and determined at the discretion of the Board, annual equity awards under the Company’s equity incentive plan, and up to five stock awards, each in an amount equal to 0.5% of the total number of the Company’s outstanding shares, vesting over three years, in the event the Company’s stock trading price reaches the following 10-day volume weighted average prices: $0.75, $1.00, $1.24, $1.49 and $1.74.

Issuances of Common Stock

On July 17, 2025, the Company issued 800,000 shares of Common Stock to Sandip I. Patel, P.A., a law firm that is wholly owned by Sandip I. Patel, our director, as consideration for legal and consulting services provided to the Company. The shares were valued based on the closing price of the date of issuance of $0.21 for total retainer value amount of $169,920.

On August 11, 2025, the Company issued 200,000 shares of Common Stock as consideration for $40,000 in open invoices to a service provider.

Subsequent to June 30, 2025, and through September 19, 2025, the Company issued a total of 15,922,008 shares of Common Stock to the Wilson - Davis Sellers under the Long - Term Note, the Merger Financing for total of $2,565,931 in Principal and $113,791 of interest. Conversion rate of 90% of the trailing seven - trading day VWAP prior to payment was between $0.16 and $0.18 per share.

Subsequent to June 30, 2025, and through September 19, 2025, the Company issued a total of 63,944,332 shares of Common Stock to Funicular under the Securities Convertible Note for total of $9,324,489 in Principal and $267,161 of interest. Conversion rate of $0.15 which is the floor established under the agreement.

Subsequent to June 30, 2025, and through September 19, 2025, the Company issued a total of 4,845,072 shares of Common Stock to Chardan under the Convertible Note, for total of $959,764 in principal. Conversion rate of 90% of the trailing seven-trading day VWAP prior to payment was between $0.16 and $0.18 per share.

On September 16, 2025, the Company and JonesTrading entered into an amendment to the Promissory note agreement, whereas the conversion price floor of $2.00 was amended to $0.75. As a result, on September 16, 2025, the Company issued 585,229 shares of Common Stock with a conversion price of $0.75 in full settlement of $375,000 in principal and $63,922 of accrued interest.

Pursuant to a Software As A Services License Agreement, as payment in shares for services rendered subsequent to June 30, 2025, resulting in the issuance of 356,901 shares valued at the closing price on the date of issuance of $0.162 per share resulting in compensation expense of $57,821.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K/A, as filed with the SEC on September 30, 2025. The accompanying condensed balance sheet as of June 30, 2025

has been derived from the audited financial statements included in the Form 10-K/A. The interim results for the three months ended September 30, 2025 are not necessarily indicative of the results to be expected for the year ending June 30, 2026 or for any future periods.

Basis of Presentation

The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

On August 9, 2024, the Company changed its fiscal year-end from December 31 to June 30. As a result, the prior year reflects a transition period of six months, from January 1, 2024, to June 30, 2024, as previously reported in our Form 10-KT filed with the SEC on October 16, 2024.

The current fiscal year covers the twelve-month period from July 1, 2024, to June 30, 2025. As such, the periods presented in this Form 10-K are not directly comparable due to the difference in reporting periods.

Where appropriate, we have included supplemental unaudited pro forma information and comparative commentary to aid in understanding period-over-period performance trends.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.

The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. The more significant accounting estimates included in these consolidated financial statements is the determination of the fair value of the private warrant liabilities, the fair value of the Subscription Agreement, the fair value of the derivatives included in the convertible notes, the secured convertible note, the merger financing, the short-term merger financing, the long-term merger financing, the fair value of the earnout liability, realization of deferred tax assets and the useful life of its intangible assets. Such estimates may be subject to change as more current information becomes available and accordingly the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all operating accounts that hold money market funds held and short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

Trading Securities

Securities held in the Company’s trading account and trading securities sold not yet purchased, consist primarily of over-the-counter securities and are valued based upon quoted market prices. The value of securities that are not readily marketable are estimated by management based upon quoted prices, the number of market makers, trading volume and number of shares held. Unrealized gains and losses are reflected in income in the financial statements.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation on property and equipment is provided using accelerated and straight-line methods over expected useful lives of three to seven years.

Leases

The Company leases office space under the terms of several operating leases. The determination of whether an arrangement is a lease is made at the lease’s inception. Under ASC 842, a contract is (or contains) a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is defined under the standard as having both the right to obtain substantially all of the economic benefits from use of the asset and the right to direct the use of the asset. Management only reassesses its determination if the terms and conditions of the contract are changed.

Right-of-use assets (“ROU assets”) represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company uses the implicit rate when it is readily determinable. Since the Company’s leases do not provide implicit rates, to determine the present value of lease payments, management uses the Company’s estimated incremental borrowing rate based on the information available at lease commencement.

Goodwill

Goodwill represents the excess of purchase price in a business combination over the fair value of the net identifiable assets acquired. The Company evaluated goodwill for impairment at the reporting unit level by assessing whether it is more likely than not that the fair value of a reporting unit exceeds its carrying value. If this assessment concludes that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, then goodwill is not considered impaired and no further impairment testing is required. Conversely, if the assessment concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, a goodwill impairment test is performed to compare the fair value of the reporting unit to its carrying value. The Company determines fair value of the reporting unit using income models. The models contain significant assumptions and accounting estimates about discount rates, future cash flows, that could materially affect operating results or financial position if they were to change significantly in the future and could result in an impairment. The Company perform our goodwill impairment assessment whenever events or changes in facts or circumstances indicate that impairment may exist and during the fourth quarter each year. The cash flow estimates and discount rates incorporate management’s best estimates, using appropriate and customary assumptions and projections at the date of evaluation. As of June 30, 2025 and 2024, the carrying value of goodwill was $6,142,525 and $7,706,725, respectively, as described in Note 10.

Intangible Assets

Intangible assets are presented at fair value, net of amortization. The fair value is determined based on the appraised value of the asset. Intangible assets comprise of developed technology and customer relationships (See Note 10 and 12). Developed technology and customer list are amortized using the straight-line method over the ten-year and twelve-year estimated useful lives of the assets, respectively. As of June 30, 2025 and 2024, the carrying value of developed technology was $1,785,104 and $1,726,500, respectively. The carrying value of customer list was $12,932,106 and $14,150,856, respectively, as described in Note 10 and Note 12.

Impairment of Long-lived and Intangible Assets

The Company had no impairment charges during the three-month periods ended September 30, 2025 and 2024.

Impairment of Long-lived and Intangible Assets

In accordance with ASC 360-10 Property Plant and Equipment and ASC 350-10 Intangibles, the Company, on a regular basis, reviews the carrying amount of long-lived assets for the existence of facts or circumstances, both internally and externally, that suggest impairment. The Company determines if the carrying amount of a long-lived asset is impaired based on anticipated undiscounted cash flows, before interest, from the use of the asset. In the event of impairment, a loss is recognized based on the amount by which the carrying amount exceeds the fair value of the asset. Fair value is determined based on the appraised value of the assets or the anticipated cash flows from the use of the asset, discounted at a rate commensurate with the risk involved. The Company had no impairment charges during the year ended June 30, 2025. The Company recorded $17,845,813 of impairment charges included in loss on AtlasClear asset acquisition during the period ended June 30, 2024.

Warrant Liabilities

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants that do not meet all the criteria for equity classification are recognized as a non-cash gain or loss on the consolidated statements of operations. The fair value of the private warrants was estimated using a Black-Scholes model approach (see Note 17).

Income Taxes

The Company utilizes the asset and liability method to account for income taxes. The objective of this method is to establish deferred tax assets and liabilities for the temporary differences between net income for financial reporting basis and the tax basis of the Company’s assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized.

Income tax expense or benefit is provided based upon the financial statement earnings of the Company. The allowance for doubtful accounts is deductible for financial statement purposes, but not for tax purposes. Depreciation expense is recognized in different periods for tax and financial accounting purposes due to the use of accelerated depreciation methods for income tax purposes. The tax effects of such differences are reported as deferred income taxes in the financial statements.

Revenue Recognition

Wilson-Davis, a subsidiary of the Company, recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers, using the modified retrospective method. This revenue recognition guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to: (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when the entity satisfies a performance obligation.

Wilson-Davis acts as an agent by selling securities to customers and collecting commissions. Wilson-Davis recognizes commissions on a trade date basis, which is the day the transaction is executed. Wilson-Davis believes that the performance obligation is satisfied on the trade date because that is when the security is selected, the price is determined, the trade is executed, and the risks and rewards of ownership have been transferred to/from the customer.

Wilson-Davis also receives commissions on mutual funds purchased by customers. Wilson-Davis believes that the performance obligation is not satisfied until the mutual funds are purchased by customers and recognizes the commission revenue upon receipt from fund.

Wilson-Davis performs vetting services to customers that wish to convert restricted stock to eligible trading stock. In addition, Wilson-Davis charges clearing fees to another broker-dealer for which it clears trades. Wilson-Davis recognizes revenue as the related performance obligations are satisfied.

Wilson-Davis charges customers for wires and transfer agent fees. The customer is also charged for blue sheet fees, corporate actions, and ACATS fees. Wilson-Davis recognizes revenue as the related performance obligations are satisfied.

Wilson-Davis performs underwriting services for companies going public. The Company enters into an agreement detailing the services to be performed. The Company recognizes revenue when the shares of stock have been delivered and wire payments have been processed.

Wilson-Davis earns interest on its balances with its financial institution. Wilson-Davis recognizes the interest income at month end when the income ha been earned.

Net Income (Loss) per Common Stock

Net (Loss) Income per Common Stock

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net (loss) income per share of common stock is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding for the period.

The calculation of diluted net (loss) income per share does not consider the effect of the warrants issued and outstanding. For the three months ended September 30, 2025 and 2024, the calculation excludes the dilutive impact of warrants because none would be issued under the treasury method. For the three months ended September 30, 2025, the dilutive shares were excluded as including them would be antidilutive. For the three months ended September 30, 2024, the convertible financial instrument and other share obligations were included in the dilutive calculation under the as converted method, as such the number of shares were included as if the shares were issued on July 1, 2024 and the interest expense and the change in fair value associated with the financial instruments was adjusted from net income to determine the numerator and denominator.

The following table reflects the calculation of basic net (loss) income per share of common stock (in dollars, except share amounts):


	Three Months Ended		Three Months Ended
	September 30, 2025		September 30, 2024
Basic net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Denominator:
Basic weighted average common stock outstanding		59,947,249		256,405
Basic net (loss) income per common stock	$	(0.01)	$	41.92

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	Three Months Ended-		Three Months Ended-
	September 30, 2025		September 30, 2024
Diluted net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Change in fair value of financial instruments		—		(12,655,000)
Interest on dilutive instruments		—		1,419,843
Allocation of net (loss) income, as adjusted	$	(440,294)	$	(487,124)
Denominator:
Dilutive weighted average common stock outstanding		59,947,249		256,405
If converted shares		—		1,636,065
		59,947,249		1,892,470
Diluted net (loss) income per common stock	$	(0.01)	$	(1.90)

Below is a summary of the potentially dilutive instruments as of September 30, 2025 and 2024:


Description	September 30, 2025	September 30, 2024
Short Term Notes	—	817,513
Convertible notes - Chardan	—	321,066
Secured convertible note	670,307	436,705
Subscription agreement	1,195,986	46,978
Tau agreement	—	20,892
Stock payable	—	4,167
Debenture	3,888,887	—
Stock Based Compensation	1,973,684	—
Promissory note	576,616	5,691
Total Shares issuable under Convertible Note obligations – if converted total dilutive	8,305,480	1,653,012

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625

During the three months period ended September 30, 2025, the Company issued convertible promissory notes (the “Convertible Notes”) with an aggregate principal amount of $6,000,000. Under the terms of the Convertible Notes, if not sooner repaid, all outstanding principal and accrued but unpaid interest was to automatically convert, at the election of the holder, into shares of the same class of equity securities issued in the Company’s next qualified equity financing (“Qualified Financing”). A Qualified Financing was defined as the issuance and sale of the Company’s capital stock resulting in gross proceeds of at least $10.0 million, excluding any indebtedness converted in such financing.

Upon a Qualified Financing, the Convertible Notes were convertible into that number of shares of equity securities equal to (x) the outstanding principal and accrued interest divided by (y) the price per share of the equity securities issued in the Qualified Financing, and otherwise on the same terms as those securities.

As of September 30, 2025, no Qualified Financing had occurred, and therefore no shares were issuable or outstanding related to the Convertible Notes. The conversion feature represents a contingent right to receive shares upon a future event. Accordingly, shares issuable upon conversion of the Convertible Notes have been excluded from the computation of diluted net loss per share because the contingency had not been satisfied as of the reporting date. In October 2025, upon the consummation of the transactions contemplated by the Equity SPA, $4.25 million payable by the Company under the Convertible Notes was converted into Units, and the remaining balance of the Convertible Notes was paid in full.

Net Income (Loss) per Common Stock

The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share”. Net income (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period. Income (loss) is allocated between redeemable and non-redeemable shares based on relative amounts of weighted average shares outstanding. Accretion associated with the redeemable shares of common stock is excluded from income (loss) per share as the redemption value approximates fair value.

The calculation of diluted net income (loss) per share does not consider the effect of the warrants issued and outstanding. For the year ended June 30, 2025 and the transition period ended June 30, 2024, the calculation excludes the dilutive impact of warrants because none would be issued under treasury method as the warrants exercise price is greater than the current price of the stock. For the transition period ended June 30, 2024, the dilutive shares were excluded as including them would be antidilutive. For the year ended June 30, 2025, the convertible financial instrument and other share obligations were included in the dilutive calculation under the as converted method, as such the number of shares were included as if the shares were issued on July 1, 2024 and the interest expense and the change in fair value associated with the financial instruments was adjusted from net income to determine the numerator and denominator.

The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	Redeemable		Redeemable		redeemable
Basic and diluted net income (loss) per share of Common Stock
Numerator:
Net income (loss)	$	5,750,820	$	(11,279,605)	$	(108,927,342)
Deemed dividend		—		—		(15,422,431)
Allocation of net income (loss)	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Denominator:
Basic and diluted weighted average shares outstanding		5,987,645		18,500		178,651
Basic net income (loss) per share of Common Stock	$	0.96	$	(609.72)	$	(696.05)

For the year ended June 30, 2025 and for the transition perioded ended June 30, 2024 the diluted net income (loss) per share of common stock was excluded as including them would result in anti-dilution.

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	redeemable		Redeemable		redeemable
Diluted net income (loss) per common stock
Numerator:
Allocation of net income (loss),	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Change in fair value of financial instruments		(15,147,345)		—		—
Interest on dilutive instruments		7,148,116		—		—
Allocation of net income (loss), as adjusted	$	(2,248,409)	$	(11,279,605)	$	(124,349,773)
Denominator:
Dilutive weighted average common stock outstanding		5,987,645		18,500		178,651
If converted shares		—		—		—
		5,987,645		18,500		178,651
Diluted net income (loss) per common stock	$	(0.38)	$	(609.72)	$	(696.05)

For the year ended June 30, 2025, the numerator is adjusted for the interest expenses and other components to include the effect of the convertible securities under the as converted method at the beginning of the period. The adjustment to the numerator resulted in a net loss position. As such including the effect of convertible securities in a loss situation would make the loss per share smaller, which is misleading and considered antidilutive under U.S. GAAP. For the transition period ended June 30, 2024 the diluted net income (loss) per share of common stock was excluded as including them would result in anti-dilution.

Below is a summary of the dilutive instruments as of June 30, 2025 and 2024:


Description	June 30, 2025	June 30, 2024
Sellers Notes	15,103,895	14,012,965
Convertible notes	5,317,252	4,722,875
Secured convertible note	49,230,040	9,801,273
Subscription agreement	4,354,048	938,967
Tau agreement	35,282	—
Promissory note	6,215	379,375
Total Shares issuable under Convertible Note obligations – if converted total dilutive	74,046,732	29,855,455

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Coverage of $250,000. The Company has not experienced losses on these accounts. The Company’s cash is deposited at two financial institutions. At September 30, 2025, the Company had no amounts in excess of the FDIC limit.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which, at times may exceed the Federal Deposit Insurance Coverage of $250,000. The Company has not experienced losses on these accounts. The Company’s cash is deposited at two financial institutions. At June 30, 2025, the Company had approximately $7,278,320 in excess of the FDIC limit.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for warrant liabilities, convertible notes derivative liability and the earnout out liability (see Note 12).

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the accompanying balance sheets, primarily due to their short-term nature, except for warrant liabilities, convertible notes derivative liability and the earnout out liability (see Note 17).

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments

should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC 815. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the issuance date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Risk Management

Transactions involving financial instruments involve varying degrees of market, credit and operating risk. The Company monitors its exposure to risk on a daily basis.

Market Risk

Market risk is the potential change in value of the financial instrument caused by unfavorable changes in interest rates and equity prices. Management is responsible for reviewing trading positions, exposure limits, profits and losses, and trading strategies. In the normal course of business, the Company purchases, and makes markets in non-investment grade securities. These activities expose the Company to a higher degree of market risk than is associated with investing or trading in investment grade instruments.

Operating Risk

Operating risk focuses on the Company’s ability to accumulate, process and communicate information necessary to conduct its daily operations. Deficiencies in technology, financial systems and controls and losses attributable to operational problems all pose potential operating risks. In order to mitigate these risks, the Company has established and maintains an internal control environment which incorporates various control mechanisms throughout the organization. In addition, the Company periodically monitors its technological needs and makes changes as deemed appropriate.

Credit Risk

Wilson-Davis’s transactions with customers and other broker dealers are recorded on a trade date basis and are collateralized by the underlying securities. Wilson-Davis’s exposure to credit risk associated with nonperformance by customers or contra brokers is impacted by volatile or illiquid trading markets. Should either the customers or other broker dealers fail to perform, Wilson-Davis may be required to complete the transactions at prevailing market prices. Wilson-Davis manages credit risk by monitoring net exposure to individual counterparties on a regular basis. Historically, reserve requirements arising from instruments with off-balance sheet risk have not been material.

Receivables and payables with clearing and other broker dealers are generally collateralized by cash deposits. Additional cash deposits are requested when considered necessary by the clearing organization or contra broker dealer.

Customer transactions are primarily entered in cash accounts. Wilson-Davis maintains a few customer margin accounts which exposes the company to credit and market risks. However, this risk is minimized by Wilson-Davis requirement that margin accounts must maintain at least a 4:1 ratio of securities to margin obligations.

Concentrations of credit risk that arise from financial instruments (whether on or off-balance sheet) exist for groups of counterparties when they have similar economic characteristics that would cause their ability to meet obligations to be similarly affected by economic, industry or geographic factors.

Recent Accounting Standards

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

Recent Accounting Standards

Beginning in 2025 annual reporting, the Company adopted Accounting Standards Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (ASU 2023-07) that was issued by the Financial Accounting Standards Board (FASB). This new standard requires an enhanced disclosure of significant segment expenses on an annual basis. Management has determined that there is only one reportable operating segment. The segment information aligns with how the Company’s Chief Operating Decision Maker (“CODM”) reviews and manages our business. The Company’s CODM is the Company’s Chief Executive Officer who reviews the assets, operating results, and financial metrics for the company.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): “Improvements to Income Tax Disclosures” (“ASU 2023-09”), which will require the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. ASU 2023-09 will also require the Company to disaggregate its income taxes paid disclosure by federal, state and foreign taxes, with further disaggregation required for significant individual jurisdictions. ASU 2023-09 will become effective for annual periods beginning after December 15, 2024. The Company is still reviewing the impact of ASU 2023-09. We are currently evaluating the provisions of this.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures, a new standard to expand disclosures about income statement expenses. The guidance requires disaggregation of certain costs and expenses included in each relevant expense caption on the income statements in a separate note to the financial statements at each interim and annual reporting period, including amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The standard will be effective for annual periods beginning after December 15, 2027. We are currently evaluating the provision of this ASU.

Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed consolidated financial statements.

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS- Transition Period Comparative Data (Tables)

12 Months Ended

Jun. 30, 2025

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS

Schedule of transition period comparative data


	June 30,		June 30,
	2024		2023
ASSETS			(Unaudited)
Current assets
Cash and cash equivalents	$	6,558,176	$	1,132,900
Cash segregated - customers		20,548,972		—
Cash segregated - PAB		200,738		—
Receivables - broker-dealers and clearing organizations		1,333,306		—
Receivables - customers, net		823,784		—
Other receivables		64,842		—
Prepaid expenses		67,967		29,458
Trading securities, market value, net		55		—
Due from Atlas Clear		—		49,806
Total Current Assets		29,597,840		1,212,164

Operating lease right to use lease asset		326,336		—
Property and equipment, net		16,080		—
Customer list, net		14,150,856		—
Goodwill		7,706,725		—
Pacsquare asset purchase		1,726,500		—
Bank acquisition deposit		91,200		—
Cash deposits - broker-dealers and clearing organizations		3,515,000		—
Other assets		336,017		—
Marketable securities held in Trust Account		—		57,409,747
TOTAL ASSETS	$	57,466,554	$	58,621,911

LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities
Payables to customers	$	20,162,973	$	—
Accounts and payables to officers/directors		686,579		—
Accounts payable and accrued expenses		5,393,912		5,181,488
Payables - broker-dealers and clearing organizations		4,915		—
Commissions, payroll and payroll taxes		273,386		—
Current portion of lease liability		149,499		—
Stock payable		259,893		—
Convertible notes, net		3,783,437		—
Secured convertible note, net		6,857,101		—
Promissory notes		852,968		—
Short-term merger financing, net		5,092,083		—
Contingent gurantee		3,256,863		—
Subscription agreement		2,425,647		—
Excise tax payable		2,067,572		—
Excise taxes payable		—		1,485,236
Stock payable - related party		55,087		—
Advance from related parties		—		1,968,116
Promissory note – related party		—		480,000
Total Current Liabilities		51,321,915		9,114,840

Accrued contingent liability		100,000		—
Long-term merger financing, net		7,606,561		—
Derivative liability - convertible notes		16,462,690		—
Derivative liability - warrants		307,656		307,656
Earnout - liability		12,298,000		—
Deferred income tax liability		5,245,886		—
Subordinated borrowings		1,950,000		—
Trading account deposit		100,000		—
Long-term lease liability		182,729		—
Total Liabilities		95,575,437		9,422,496

Commitments and Contingencies

Common stock subject to possible redemption		—		57,113,761

Stockholders’ Deficit
Preferred stock, $0.0001 par value;		—		—
Common stock, $0.0001 par value;		1,246		503
Additional paid-in capital		110,164,676		—
Accumulated deficit		(148,274,805)		(7,914,849)
Total Stockholders’ Deficit		(38,108,883)		(7,914,346)
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS’ DEFICIT	$	57,466,554	$	58,621,911


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
REVENUES
Commissions	$	1,750,159	$	—	$	2,679,673	$	—
Vetting fees		340,050		—		499,125		—
Clearing fees		624,550		—		756,393		—
Net gain/(loss) on firm trading accounts		6,390		—		10,046		—
Other revenue		9,650		—		56,246		—
TOTAL REVENUES		2,730,799		—		4,001,483		—

EXPENSES
Compensation, payroll taxes and benefits		1,355,058		—		2,386,837		—
Data processing and clearing costs		843,824		—		1,299,527		—
Regulatory, professional fees and related expenses		112,216		—		11,649,470		—
Stock compensation - founder share transfer		—		—		1,462,650		—
Communications		172,018		—		254,608		—
Occupancy and equipment		54,765		—		76,324		—
Transfer fees		54,807		—		75,425		—
Bank charges		52,077		—		88,253		—
Intangible assets amortization		337,911		—		791,375		—
Other		147,042		—		185,840		—
Operating and formation costs		—		577,313		—		1,485,122
TOTAL EXPENSES		3,129,718		577,313		18,270,309		1,485,122

LOSS FROM OPERATIONS		(398,919)		(577,313)		(14,268,826)		(1,485,122)

OTHER INCOME/(EXPENSE)
Interest income		587,637		8,458		938,802		8,458
Interest earned on marketable securities held in Trust Account		—		727,468		256,279		2,028,921
Gain on sale of assets		146,706		—		146,706		—
Net gain on settlement		—		829,853		—		829,853
Loss on AtlasClear asset acquisition		(17,845,813)		—		(86,392,769)		—
Change in fair value of warrant liability derivative		307,656		(184,594)		—		(123,062)
Change in fair value, convertible note derivative		(992,152)		—		(3,585,902)		—
Change in fair value, long-term and short-term note derivative		(3,101,057)		—		(11,208,055)		—
Change in fair value of non-redemption agreement		—		—		(164,626)		—
Change in fair value of Contingent guarantee		(3,256,863)		—		(3,256,863)		—
Change in fair value of earnout liability		(1,115,000)		—		(1,335,000)		—
Change in fair value of subscription agreement		(4,413,946)		—		(38,796)		—
Extinguishment of stock payable		985,072		—		985,072		—
Extinguishment of accrued expenses		114,199		—		879,473		—
Interest expense		(3,210,786)		—		(3,732,178)		—
TOTAL OTHER INCOME/(EXPENSE)		(31,794,347)		1,381,185		(106,507,857)		2,744,170

Income before provision for income taxes		(32,193,266)		803,872		(120,776,683)		1,259,048
Provision for income taxes		563,736		(318,313)		569,736		(581,118)
Net income	$	(31,629,530)	$	485,559	$	(120,206,947)	$	677,930


	Six Months Ended June 30,
	2024		2023

Cash Flows from Operating Activities:
Net income (loss)	$	(120,206,947)	$	677,930
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in fair value of warrant liability derivative		—		123,062
Change in fair value of non-redemption agreement		164,626		—
Loss on AtlsClear asset acquisition		86,392,769		—
Change in fair value, convertible note derivative		3,585,904		—
Change in fair value, long-term and short-term note derivative		11,208,055		—
Interest expense on convertible notes		1,896,714		—
Transaction costs paid with stock		1,401,937		—
Stock based compensation		1,462,650		—
Change in fair value, earnout liability		1,335,000		—
Fee on Secured convertible note		1,500,000		—
Change in operating lease expense		68,727		—
Change in fair value, contingent guarantee		3,256,863		—
Interest earned on marketable securities held in Trust Account		(251,569)		(2,028,921)
Change in fair value, subscription agreement		38,796		—
Depreciation expense		7,565		—
Amortization of intangibles		791,375		—
Bad debt expense		2,474		—
Changes in operating assets and liabilities:
Due from Atlas Clear		—		(49,806)
Income taxes payable		—		44,118
Marketable securities		6,820		—
Receivables from brokers & dealers		2,203,271		—
Receivables from customers		(303,486)		—
Receivables from others		(59,043)		—
Advances and Prepaid expenses		133,158		4,194
Cash deposits with clearing organization & other B/Ds		21,664		—
Change in operating lease right-of-use assets		(11,713)		—
Other assets		49,041		—
Payables to customers		(5,124,740)		—
Payables to officers & directors		98,048		—
Payable to brokers & dealers		(12,903)		—
Deferred tax liability		(43,484)		—
Accounts payable and accrued expenses		(1,066,430)		443,812
Commissions and payroll taxes payable		39,638		—
Stock Loan		259,893		—
Change in operatin lease right-of-use asset		(56,900)		—
Receivables from brokers & dealers		—		—
Receivables from customers		—		—
Net cash provided by (used in) operating activities		(11,212,227)		(785,611)

Cash Flows from Investing Activities:
Cash withdrawn from Trust Account to pay franchise and income taxes		68,418		—
Investment of cash into Trust Account		(160,000)		(875,000)
Cash withdrawn from Trust Account in connection with redemption		53,947,064		1,015,001
Cash paid for purchase of Pacsquare		(500,000)		—
Cash received from acquisition of Wilson-Davis		33,333,876		—
Cash withdrawn from Trust Account for working capital purposes		1,195,565		148,523,642
Cash paid to Wilson Davis shareholders		(8,092,568)		—
Net cash provided by (used in) investing activities		79,792,355		148,663,643

Cash Flows from Financing Activities:
Proceeds from secured convertible note		6,000,000		—
Transaction costs financed		5,002,968		—
Repayment of advances from related party		—		(300,000)
Advances from related party		1,052,300		1,948,950
Redemption of common stock		(53,947,064)		(148,523,642)
Net cash provided by (used in) financing activities		(41,891,796)		(146,874,692)

Net Change in Cash		26,688,332		1,003,340
Cash – Beginning		619,554		129,560
Cash – Ending	$	27,307,886	$	1,132,900

Supplementary cash flow information:
Cash paid for income taxes	$	—	$	537,000

Supplemental disclosure of non-cash investing and financing activities:
Shares issued to settled advances from related party and notes payable related party	$	4,577,569	$	—
Transaction cost settled with subscription payable	$	2,386,851	$	—
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition	$	31,347,000	$	—
Fair value of shares issued in AtlasClear, Inc asset acquisition	$	44,400,000	$	—
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition	$	10,963,000	$	—
Fair value of shares transferred to Wilson Davis shareholders	$	6,000,000	$	—
Short term notes issued to Wilson Davis shareholders	$	5,000,000	$	—
Long term notes issued to Wilson Davis shareholders	$	7,971,197	$	—
Common stock issued to settled vendor obligations	$	64,376	$	—
Fair value of shares transferred to Secured convertible note holders	$	1,250,698	$	—
Redeemable shares transferred to permanent equity	$	1,195,566	$	—
Non-redemption agreement re-classed to permanent equity	$	1,606,279	$	—
Shares issued to purchase Pacsquare	$	1,226,500	$	—
Shares issued as deposit for Commercial bank acquisition	$	91,200	$	—
Initial Classification of derivative liability – convertible notes	$	1,668,731	$	—
Interes settled with shares	$	210,550	$	—
Interest settled with shares transferred by related party	$	48,750	$	—
Cancellation of admin fees	$	—	$	120,000
Excise tax related to redemptions	$	539,471	$	1,485,236
Accretion of common stock subject to possible redemption	$	592,577	$	2,217,201

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of basic and diluted net income (loss) per share of Common Stock

The following table reflects the calculation of basic net (loss) income per share of common stock (in dollars, except share amounts):


	Three Months Ended		Three Months Ended
	September 30, 2025		September 30, 2024
Basic net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Denominator:
Basic weighted average common stock outstanding		59,947,249		256,405
Basic net (loss) income per common stock	$	(0.01)	$	41.92

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	Three Months Ended-		Three Months Ended-
	September 30, 2025		September 30, 2024
Diluted net (loss) income per common stock
Numerator:
Net (loss) income	$	(440,294)	$	10,748,033
Change in fair value of financial instruments		—		(12,655,000)
Interest on dilutive instruments		—		1,419,843
Allocation of net (loss) income, as adjusted	$	(440,294)	$	(487,124)
Denominator:
Dilutive weighted average common stock outstanding		59,947,249		256,405
If converted shares		—		1,636,065
		59,947,249		1,892,470
Diluted net (loss) income per common stock	$	(0.01)	$	(1.90)

The following table reflects the calculation of basic and diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	Redeemable		Redeemable		redeemable
Basic and diluted net income (loss) per share of Common Stock
Numerator:
Net income (loss)	$	5,750,820	$	(11,279,605)	$	(108,927,342)
Deemed dividend		—		—		(15,422,431)
Allocation of net income (loss)	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Denominator:
Basic and diluted weighted average shares outstanding		5,987,645		18,500		178,651
Basic net income (loss) per share of Common Stock	$	0.96	$	(609.72)	$	(696.05)

The following table reflects the calculation of diluted net income (loss) per share of common stock (in dollars, except share amounts):


	FOR THE YEAR ENDED		FOR THE TRANSITION PERIOD ENDED
	June 30, 2025		June 30, 2024
	Non-				Non-
	redeemable		Redeemable		redeemable
Diluted net income (loss) per common stock
Numerator:
Allocation of net income (loss),	$	5,750,820	$	(11,279,605)	$	(124,349,773)
Change in fair value of financial instruments		(15,147,345)		—		—
Interest on dilutive instruments		7,148,116		—		—
Allocation of net income (loss), as adjusted	$	(2,248,409)	$	(11,279,605)	$	(124,349,773)
Denominator:
Dilutive weighted average common stock outstanding		5,987,645		18,500		178,651
If converted shares		—		—		—
		5,987,645		18,500		178,651
Diluted net income (loss) per common stock	$	(0.38)	$	(609.72)	$	(696.05)

Schedule of dilutive instruments


Description	September 30, 2025	September 30, 2024
Short Term Notes	—	817,513
Convertible notes - Chardan	—	321,066
Secured convertible note	670,307	436,705
Subscription agreement	1,195,986	46,978
Tau agreement	—	20,892
Stock payable	—	4,167
Debenture	3,888,887	—
Stock Based Compensation	1,973,684	—
Promissory note	576,616	5,691
Total Shares issuable under Convertible Note obligations – if converted total dilutive	8,305,480	1,653,012

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625


Description	June 30, 2025	June 30, 2024
Sellers Notes	15,103,895	14,012,965
Convertible notes	5,317,252	4,722,875
Secured convertible note	49,230,040	9,801,273
Subscription agreement	4,354,048	938,967
Tau agreement	35,282	—
Promissory note	6,215	379,375
Total Shares issuable under Convertible Note obligations – if converted total dilutive	74,046,732	29,855,455

Public Warrants	10,062,500	10,062,500
Private Warrants	5,553,125	5,553,125
Secured convertible note warrants	600,000	600,000
Total excluded under treasury method – out of the money	16,215,625	16,215,625

CASH AND RESTRICTED CASH (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

CASH AND RESTRICTED CASH

Schedule of reconciliation of cash and restricted cash as shown in the statements of cash flows


	September 30, 2025		June 30, 2025
Cash and cash equivalents	$	2,692,063	$	7,533,690
Cash segregated - customers		29,291,802		21,874,954
Cash segregated - PAB		200,563		200,575
Total cash and restricted cash shown in the statement of cash flows.	$	32,184,428	$	29,609,219


	June 30, 2025		June 30, 2024
Cash and cash equivalents	$	7,533,690	$	6,558,176
Cash segregated - customers		21,874,954		20,548,972
Cash segregated - PAB		200,575		200,738
Total cash and restricted cash shown in the statement of cash flows.	$	29,609,219	$	27,307,886

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION (Tables)

12 Months Ended

Jun. 30, 2025

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION

Schedule of amounts receivable and payable with broker dealers and the clearing organization


	June 30, 2025		June 30, 2024
Due from clearing organizations, net	$	4,021,151	$	1,094,453
Fails to deliver and receive		158,474		238,853
Total receivables	$	4,179,625	$	1,333,306

Due from clearing organizations, net	$	481,006	$	3,003
Fails to deliver and receive		16,654		1,912
Total payables	$	497,660	$	4,915

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jun. 30, 2025

PROPERTY AND EQUIPMENT

Summary of major classifications of property and equipment


	June 30, 2025		June 30, 2024
Equipment	$	150,202	$	150,202
Leasehold improvements		89,087		89,087
Software		85,042		85,042
Furniture and fixtures		51,717		51,717
		376,048		376,048
Less: Accumulated depreciation and Amortization		(376,048)		(359,968)
	$	—	$	16,080

ACQUISITION OF WILSON-DAVIS (Tables)

12 Months Ended

Jun. 30, 2025

ACQUISITION OF WILSON-DAVIS

Summary of preliminary allocation of the purchase price


Cash paid to Wilson-Davis shareholders	$	8,092,569
Short-term notes		5,000,000
Long-term notes		7,971,197
Value of shares transferred from sponsor		6,000,000
Total consideration paid		27,063,766

Allocated to:
Cash	$	11,333,271
Cash segregated		22,000,605
Receivables		4,065,148
Trading Securities, market value		6,875
Prepaid Income Tax		201,125
Accounts payable, accrued expenses and other current liabilities		(28,045,034)
Current portion of lease liability		(161,212)
Property and equipment		23,645
Cash deposit BDs and Clearing Organizations		3,536,664
Operating Lease Right-to-Use Lease Assets		395,063
Other Assets		385,058
Stock loan		(1,431,068)
Long-term Lease liability		(239,629)
Subordinated Borrowing		(1,950,000)
Deferred tax liability		(3,724,270)
Trading Account deposit		(100,000)
Net assets acquired		6,296,241
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	$	20,767,525

Summary of identifiable intangible assets acquired


			Estimated
			Useful Life
	Amount		(Years)
Customer Lists (a)	$	14,625,000	12
Excess of purchase price		20,767,525	—
Goodwill	$	6,142,525	—

(a)

The Wilson Davis customer relationships were valued using the Multi-Period Excess Earnings Method (“MPEEM”). The MPEEM reflects the present value of the operating cash flows generated by existing customer relationships after taking into account the cost to realize the revenue and an appropriate discount rate to reflect the time value and risk associated with the cash flows.

Summary the pro forma financial information


	June 30, 2024
Total revenue	$	5,247,150
Net loss		(23,878,060)

Weighted average shares
Basic and diluted		196,696
Net loss per shares:
Basic and diluted	$	(121.40)

Summary of pro forma adjustments


	June 30, 2024
Transaction cost	$	(9,008,053)
Amortization of intangibles	$	—
Loss on AtlasClear acquisition	$	86,392,769
Interest earned on investments held in trust	$	(256,279)

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC (Tables)

12 Months Ended

Jun. 30, 2025

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC

Schedule of asset purchase price allocation

The value was derived based on the purchase price allocation as follows: (the table below is expressed in thousands)


Total Purchase Price(a)	$	44,400,000
Fair value of Software Product Earn Out Shares(b)		10,963,000
Fair value of Earn Out Shares(c)		31,347,000
Purchase price allocated to Contribution Agreement	$	86,710,000
SURFACExchange	$	381,461
Bond Quantum		32,284
Atlas		7,749,299
Rubicon		10,000,000
Total Developed Technology acquired(d)	$	18,163,044
Transaction cost(e)	$	68,546,956

Technology acquired	$	18,163,044
Amortization recognized		(317,231)
Carrying balance of Technology acquired written off		17,845,813
Total loss on AtlasClear technology acquired	$	86,392,769

(a)	The closing consideration of $44.40 million is to be delivered in common stock. As such 74,000 post reverse - splits shares were delivered based on $60 per share post reverse - split presumed value of common stock.

(b)

Atlas FinTech will receive up to $20.00 million of Common Stock (“Software Products Earn Out Shares”), which will be issued to Atlas FinTech upon certain milestones (based on the achievement of certain revenue targets of software products contributed to AtlasClear by Atlas FinTech and Atlas Financial Technologies Corp. following the Closing). The revenue targets will be measured yearly for the five years following Closing, with no catch-up between the years. The value was determined based on projected revenue based on a discount factor. The Earn Out provision was analyzed under ASC 480 and ASC 815. the Software Products Earn Out Shares Payments in this transaction are within the scope of ASC 480 and therefore will be accounted for as a liability and included in the purchase price consideration. The revenue earnout was estimated using a Monte Carlo simulation to determine if and when the revenue hurdles would be achieved. The revenue volatility and revenue to equity correlation was based upon the same guideline public companies. The Monte Carlo simulation was performed simultaneously on both the share price and revenue to account for the correlation between revenue and equity.

(c)

Atlas FinTech will receive up to 5,944,444 shares of Common Stock (the “Earn Out Shares”). The Earn Out Shares will be issued to AtlasClear Stockholders upon certain milestones (based on the achievement of certain price targets of Common Stock following the Closing). In the event such milestones are not met within the first 18 months following the Closing, the Earn Out Shares will be cancelled. The Earn Out provision was analyzed under ASC 480 and ASC 815. The earnout provision was deemed to be indexed to the Company’s own stock and therefore equity classified. The share based earnout was estimated using a Monte Carlo simulation to determine if and when the stock price hurdles would be achieved. The expected stock price volatility was based upon guideline public companies.

(d)

Under SAB topic 5G transfers of nonmonetary assets for stock prior to an initial offering should be recorded at predecessor cost in accordance with GAAP. As such the value of the Developed Technology was based on the carrying value of Atlas FinTech of $18.16 million. The estimated useful life was determined to be eight years. There are no historical revenues for the Developed Technology and AtlasClear’s management determined the fair value based on their experience and expectations from running similar models in previous companies.

(e)	ASC 350 prohibits the recognition of goodwill in an asset purchase. As such the difference between the purchase price of $86.98 million was charged as transactions and recorded under accumulated deficit of $68.55 million.

INTANGIBLE ASSETS (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

INTANGIBLE ASSETS

Summary of intangible assets


		September 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net
Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Pacsquare assets – Proprietary Software	10 years		1,928,800		(192,299)		—		1,736,501
Customer Lists	12 years		14,625,000		(2,000,086)		—		12,624,914
Intangible Assets		$	22,696,325	$	(2,192,385)	$	—	$	20,503,940


		June 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net
Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,928,800		(143,696)		—		1,785,104
Customer Lists	12 years		14,625,000		(1,692,894)		—		12,932,106
Intangible Assets		$	22,696,325	$	(1,836,590)	$	—	$	20,859,735


		June 30, 2025
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net

Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,928,800		(143,696)		—		1,785,104
Customer Lists	12 years		14,625,000		(1,692,894)		—		12,932,106
Intangible Assets		$	22,696,325	$	(1,836,590)	$	—	$	20,859,735


		June 30, 2024
	Est useful			Accumulated		Impairment
	life	Cost		Amortization		of Asset		Net

Goodwill	Indefinite	$	6,142,525	$	—	$	—	$	6,142,525
Developed technology	10 years		1,726,500		—		—		1,726,500
Technology acquired	zero years		18,163,044		(317,231)		(17,845,813)		—
Customer Lists	12 years		14,625,000		(474,144)		—		14,150,856
Intangible Assets		$	40,657,069	$	(791,375)	$	(17,845,813)	$	22,019,881

Summary of amortization intangible assets


Fiscal Year	Amount
June 30, 2026	$	1,055,782
June 30, 2027		1,411,577
June 30, 2028		1,414,916
June 30, 2029		1,414,577
June 30, 2030		1,411,577
Thereafter		7,655,985


Year	Amount
June 30, 2026	$	1,411,577
June 30, 2027		1,411,577
June 30, 2028		1,414,916
June 30, 2029		1,411,577
June 30, 2030		1,411,577
Thereafter		7,655,985

LEASES (Tables)

12 Months Ended

Jun. 30, 2025

LEASES

Schedule of future minimum payments required by the lease agreements


2026		118,597
2027		70,377
Total minimum lease payments		188,974
Less interest factor		(6,245)
Total operating lease liability		182,729
Less operating lease liability - current portion		(111,983)
Operating lease liability - long term portion	$	70,746

Schedule of other information related to the company's operating leases


	June 30,		June 30,
	2025		2024

Operating lease ROU Asset - February 9, 2024	$	179,267	$	395,063
Increase		—		—
Decrease		—		(68,727)
Operating lease ROU Asset - Ending Balance	$	179,267	$	326,336

Operating lease liability - Short Term	$	111,983	$	149,499
Operating lease liability - Long Term		70,746		182,729
Operating lease liability - Total	$	182,729	$	332,228

Schedule of weighted-average remaining lease term and weighted-average discount rates related to the company's operating leases


	June 30,		June 30,
	2025		2024
Weighted average remaining lease term	1.58	years	2.35	years
Weighted average discount rate	5.00	%	4.97	%

INCOME TAX (Tables)

12 Months Ended

Jun. 30, 2025

INCOME TAX

Schedule of income tax benefit (provision)


	June 30, 2025		June 30, 2024
Current Tax:
Federal	$	—	$	—
State		1,556		3,170
Total current		1,556		3,170

Deferred Tax:
Federal		(209,219)		(546,276)
State		(51,718)		(26,630)
Total deferred		(260,937)		(572,906)

Total benefit on income taxes	$	(259,381)	$	(569,736)

Schedule of federal income tax rate to the company's effective tax rate


	June 30, 2025		Rate
Tax at Statutory rate (21%)	$	1,153,091	21.00	%

Permanent Differences:
Change in fair value of warrant liability	$	(38,765)	(0.71)	%
Meals		2,836	0.05	%
Entertainment		34	0.00	%
Chane in fair value of convertible note		(837,981)	(15.26)	%
Change in fair value of Long-Term and Short-Term Investor Notes		(2,597,515)	(47.31)	%
Change in fair value of Earnout Liability		(195,090)	(3.55)	%
Change in fair value of Subscription Agreement		13,503	0.25	%
Change in fair value of Stock Payable		(48,887)	(0.89)	%
Change in fair value of Tau Agreement		85,597	1.56	%
Change in fair value of Tau commitment fee		(10,536)	(0.19)	%
Change in fair value of WDCO sellers convertible note		(10,363)	(0.19)	%
Change in fair value of WDCO Share payable		176,353	3.21	%
Change in statutory rate		13,123	0.24	%
Return To Provision		(1,477,734)	(26.91)	%
State Tax – Net of Federal Benefit		(400,312)	(7.29)	%
State Minimum Tax – Net of Federal Benefit		1,229	0.02	%
Chang in Valuation Allowance – State		441,782	8.05	%
Chang in Valuation Allowance - Federal		1,752,730	31.92	%
Net adjustments - Federal		181,158	3.30	%
–Goodwill intangible DTA recognized as part of acquisition		1,536,366	27.98	%
Income tax benefit	$	(259,381)	(4.72)	%


	June 30, 2024		Rate
Tax at Statutory rate (21%)	$	(25,376,496)	21.00	%

Permanent Differences:
Change in fair value of NRA liability	$	34,571	(0.03)	%
Meals		1,769	0.00	%
Entertainment		161	0.00	%
Nondeductible transaction costs		1,891,691	(1.57)	%
Change in fair value of Long-Term and Short-Term Investor Notes		2,353,692	(1.95)	%
Change in fair value of Secured Convertible Note		753,039	(0.62)	%
Change in fair value of Earnout Liability		280,350	(0.23)	%
Change in fair value of Subscription Agreement		8,147	(0.01)	%
Change in fair value of Stock Payable		(206,865)	0.17	%
Loss on AtlasClear acquisition		18,142,481	(15.01)	%
Stock Compensation Expense		307,157	(0.25)	%
Extinguishment of Accrued Liabilities		(184,689)	0.15	%
Change in fair value of WDCO Share payable		683,941	(0.57)	%
Return To Provision		(477,461)	0.40	%
State Tax – Net of Federal Benefit		(220,234)	0.18	%
State Minimum Tax – Net of Federal Benefit		2,504	0.00	%
Chang in Valuation Allowance – State		499,331	(0.41)	%
Chang in Valuation Allowance - Federal		937,175	(0.78)	%
Income tax benefit	$	(569,736)	0.47	%

Schedule of net deferred tax assets (liability)


	June 30, 2025		June 30, 2024
Deferred Tax Assets:
Fixed Assets	$	3,881	$	261
Business Combination Expenses		533,602		530,560
IRC Sec. 195 Start-Up Costs		896,917		956,768
Allowance for Bad Debt		102,733		3,820
Accrued Contingent Liability		25,611		25,465
Lease Liability (ASC 842)		46,799		84,602
IRC Sec. 1231 Losses		1,775		1,774
Net Operating Loss		3,612,862		1,361,541
Total Deferred Tax Asset		5,224,180		2,964,791

Deferred Tax Liabilities:
Intangible Assets		3,312,054		5,167,729
ROU Lease Asset (ASC 842)		45,912		83,102
State Tax - Current		526		526
State Tax - Deferred		89,732		110,452
Total Deferred Tax Liability		3,448,224		5,361,809
Net Deferred Tax Asset/(Liability) before Valuation allowance		1,775,956		(2,397,018)
Valuation Allowance		(5,043,381)		(2,848,868)
Net Deferred Tax Asset/(Liability)	$	(3,267,425)	$	(5,245,886)

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

FAIR VALUE MEASUREMENTS

Schedule of Company's assets and liabilities that are measured at fair value on a recurring basis


		September 30,		June 30,
Description	Level	2025		2025
Assets:
Trading securities	1	$	5	$	5

Liabilities:
Subscription agreement	3	$	691,321	$	2,489,945
Warrant liability – Private Warrants	3	$	184,594	$	123,062
Earnout liability	3	$	11,485,000	$	11,369,000
Convertible notes Chardan derivative	3	$	—	$	103,185
Merger financing derivative	3	$	—	$	63,696
Tau agreement	3	$	—	$	539,787
Debentures – derivative	3	$	1,189,955	$	—
Convertible Notes – derivative	3	$	435,027	$	—


		June 30,		June 30,
Description	Level	2025		2024
Assets:
Trading securities	1	$	5	$	—

Liabilities:
Subscription agreement	3	$	2,489,945	$	2,425,647
Contingent Guarantee	3	$	—	$	3,256,863
Warrant liability – Private Warrants	3	$	123,062	$	307,656
Earnout liability	3	$	11,369,000	$	12,298,000
Convertible notes derivative	3	$	103,185	$	16,462,690
Merger financing derivative	3	$	63,696	$	—
Tau agreement	3	$	539,787	$	—

Schedule of key inputs into the models

The key inputs into the Monte Carlo model for the Subscription Agreement were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Equity volatility		167.7	%
Risk-free rate		4.21	%

The key inputs into the Black-Scholes model for the Private Warrants were as follows:


	September 30,			June 30,
Input	2025			2025
Market price of public shares	$	0.51		$	0.19
Risk-free rate		3.59	%		3.67	%
Dividend yield		0.00	%		0.00	%
Volatility		149.4	%		167.7	%
Exercise price	$	689.86		$	689.86
Effective expiration date		February 2029			February 2029

The key inputs into the Monte Carlo model for the Earnout liability were as follows:


	September 30,			June 30,
Input	2025			2025
Market price of public shares	$	0.51		$	0.19
Revenue volatility		12.00	%		12.00	%
Discount factor for revenue		9.95	%		9.31	%

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.32	%
Discount rate		12.43	%
Probability of default		5.9	%
Recovery rate		47.6	%
Effective expiration date		September 30, 2025

The key inputs into the Monte-Carlo model for the conversion derivative as of June 30, 2025 were as follows:


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		3.63	%
Discount rate		12.02	%
Probability of default		44.0	%
Recovery rate		47.6	%
Volatility		167.7	%
Effective expiration date		January 2028

As of June 30, 2025 the conversion feature was valued using Monte Carlo model resulting in the fair value of the conversion option included in the Merger Financing Note at $63,696.


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026

The key inputs into the Monte-Carlo model for the Commitment Amount as of issuance date of June 30, 2025 was as follows:


	June 30,
Input	2025
Anticipated Monthly Advance Amounts	$	40,000
Risk-free rate		3.75	%
Volatility		167.7	%
Effective expiration date		July 2026

The key inputs into the Monte-Carlo model for the conversion derivative as of September 30, 2025 and August 4, 2025 were as follows:


	September 30,			August 4,
Input	2025			2025
Market price of public shares	$	0.51		$	0.22
Risk-free rate		3.66	%		3.75	%
Discount rate		10.99	%		15.41	%
Probability of default		15.0	%		15.0	%
Recovery rate		42.9	%		42.9	%
Volatility		149.4	%		165.9	%
Effective expiration date		August 2026			August 2026

The key inputs into Scenario Based Method for the conversion derivative as of September 30, 2025 and September 16, 2025 were as follows:


	September 30,		September 16,
Input	2025		2025
Discount rate	10.96	%	11.21	%
Probability of default	8.27	%	8.98	%
Recovery rate	42.90	%	42.90	%
Effective expiration date	March 2026		March 2026


	June 30,			June 30,
Input	2025			2024
Market price of public shares	$	0.19		$	62.40
Equity volatility		167.7	%		26.2	%
Risk-free rate		4.21	%		5.05	%


	June 30,		June 30,
Input	2025		2024
Market price of public shares	$	0.19	$	62.40
Risk-free rate		3.67		4.27	%
Dividend yield		0.00		0.00	%
Volatility		167.7		58.7	%
Exercise price	$	689.86	$	689.86
Effective expiration date		February 29		February 29


	June 30,			June 30,
Input	2025			2024
Market price of public shares	$	0.19		$	62.40
Revenue volatility		12.00	%		15.00	%
Discount factor for revenue		9.31	%		9.69	%




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		5.49	%
Dividend yield		0.00	%
Volatility		14,643.0	%
Exercise price	$	0.99
Effective expiration date		May 2024


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.13	%
Discount rate		15.63	%
Probability of default		14.3	%
Recovery rate		28.9	%
Volatility		167.7	%
Effective expiration date		February 2026




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		4.90	%
Dividend yield		0.00	%
Volatility		14,461	%
Exercise price	$	0.99
Effective expiration date		February 2026


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		4.32	%
Discount rate		12.43	%
Probability of default		5.9	%
Recovery rate		47.6	%
Effective expiration date		September 30, 2025




	June 30,
Input	2024
Market price of public shares	$	62.40
Risk-free rate		4.52	%
Dividend yield		0.00	%
Volatility		166,681.0	%
Exercise price	$	0.84
Effective expiration date		February 2028


	June 30,
Input	2025
Market price of public shares	$	0.19
Risk-free rate		3.63	%
Discount rate		12.02	%
Probability of default		44.0	%
Recovery rate		47.6	%
Volatility		167.7	%
Effective expiration date		January 2028


	June 30,			August 9,
Input	2025			2024
Market price of public shares	$	0.19		$	16.20
Risk-free rate		4.13	%		4.78	%
Discount rate		15.63	%		16.98	%
Probability of default		14.3	%		25.4	%
Recovery rate		28.9	%		28.9	%
Volatility		167.7	%		37.2	%
Effective expiration date		February 2026			February 2026


	June 30,			July 31
Input	2025			2024
Anticipated Monthly Advance Amounts	$	40,000		$	40,000
Risk-free rate		3.75	%		4.20	%
Volatility		167.7	%		40.3	%
Effective expiration date		July 2026			February 2027


	June 30,			July 31,
Input	2025			2024
Market price of public shares	$	0.19		$	16.20
Risk-free rate		3.75	%		4.20	%
Volatility		167.7	%		40.3	%
Effective expiration date		February 2027			July 2026

Schedule of changes in the fair value


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2025	$	123,062	$	539,787
Write of receivable		—		(205,238)
Change in valuation inputs or other assumptions		61,531		(334,549)
Fair value as of September 30, 2025	$	184,593	$	—


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2024	$	307,656	$	—
Initial measurement		—		1,090,949
Transferred to equity		—		(303,000)
Change in valuation inputs or other assumptions		(246,125)		184,559
Fair value as of September 30, 2024	$	61,531	$	972,508


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2025	$	103,185	$	11,369,000
Change in valuation inputs or other assumptions		(103,185)		116,000
Fair value as of September 30, 2025	$	—	$	11,485,000


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2024	$	16,462,690	$	12,298,000
Change in valuation inputs or other assumptions		(14,320,179)		340,000
Fair value as of September 30, 2024	$	2,142,511	$	12,638,000


	Subscription		Merger Financing
	Agreement		Derivative
Fair value as of June 30, 2025	$	2,489,945	$	63,696
Change in valuation inputs or other assumptions		(1,798,624)		(63,696)
Fair value liability as of September 30, 2025	$	691,321	$	—


	Subscription		Merger Financing
	Agreement		Derivative
Fair value as of June 30, 2024	$	2,425,647	$	—
Initial measurement		—		113,044
Change in valuation inputs or other assumptions		34,841		63,195
Fair value liability as of September 30, 2024	$	2,460,488	$	176,239


			Secured
	Contingent		Convertible
	Guarantee		Derivative
Fair value as of June 30, 2024	$	3,256,863	$	—
Shares issued as partial payment		(1,210,290)		—
Change in valuation inputs or other assumptions		839,774		89,535
Exchange to Merger financing note		(2,886,347)		—
Fair value as of September 30, 2024	$	—	$	89,535


			Convertible
	Debenture		Notes
	Derivative		Derivative
Fair value as of June 30, 2024	$	—	$	—
Initial measurement		352,067		382,154
Change in valuation inputs or other assumptions		837,888		52,873
Fair value as of June 30, 2025	$	1,189,955	$	435,027


	Private		Tau
	Placement		Agreement
	Warrants		Liability
Fair value as of June 30, 2024	$	307,656	$	—
Initial measurement		—		1,090,949
Fair value of advance requests		—		1,652,300
Transferred to equity		—		(1,911,472)
Change in valuation inputs or other assumptions		(184,594)		(291,990)
Fair value as of June 30, 2025	$	123,062	$	539,787


	Conversion		Earnout
	Derivative		Liability
Fair value as of June 30, 2024	$	16,462,690	$	12,298,000
Change in valuation inputs or other assumptions		(16,359,505)		(929,000)
Fair value as of June 30, 2025	$	103,185	$	11,369,000


	Subscription		Contingent
	Agreement		Guarantee
Fair value as of June 30, 2024	$	2,425,647	$	3,256,863
Shares issued as partial payment		—		(1,210,290)
Change in valuation inputs or other assumptions		64,298		839,774
Exchanged to Merger financing note		—		(2,886,347)
Fair value as of June 30, 2025	$	2,489,945	$	—


	Merger		Secured
	Financing		Convertible
	Derivative		Derivative
Fair value as of June 30, 2024	$	—	$	—
Initial measurement		113,044		89,535
Change in valuation inputs or other assumptions		(49,348)		(89,535)
Fair value as of June 30, 2025	$	63,696	$	—

SEGMENT REPORTING (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2025

Jun. 30, 2025

SEGMENT REPORTING

Schedule of revenue and operating income (loss) of the segment


	Three Months Ended		Three Months Ended
	September 30, 2025		September 30, 2024
Commissions	$	2,334,389	$	1,383,828
Vetting fees		371,700		365,383
Clearing fees		714,349		1,047,712
Net gain/(loss) on firm trading accounts		(111)		1,711
Other revenue		830,263		5,448
Total revenue	$	4,250,590	$	2,804,082
Loss from operations	$	(877,238)	$	(941,102)
Total assets	$	73,634,759	$	55,994,817


			For the Transition
	Year Ended		Period Ended
	June 30, 2025		June 30, 2024
Commissions	$	5,937,532	$	2,679,673
Vetting fees		1,459,321		499,125
Clearing fees		3,165,714		756,393
Net gain/(loss) on firm trading accounts		6,580		10,046
Other revenue		287,465		56,246
Total revenue	$	10,856,612	$	4,001,483
Loss from operations	$	(4,917,281)	$	(14,268,826)
Total assets	$	60,892,833	$	57,466,554

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS (Details)	Dec. 31, 2024 $ / shares shares	Sep. 30, 2025 USD ($) $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 29, 2024 shares	Jun. 30, 2023 USD ($) $ / shares
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Stock split	0.0167
Shares authorized	525,000,000
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000	25,000,000
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares issued		126,819,145	40,165,603	207,585	12,455,157
Common stock, shares outstanding		126,819,145	40,165,603	207,585	12,455,157
Cash in bank account \| $			$ 29,609,219
Working capital deficit \| $			6,069,462
Excise tax payable \| $		$ 2,673,056	2,611,618	$ 2,067,572		$ 1,485,236
Penalties due to late filing and non payment of taxes \| $			$ 544,046

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS - Transition Period Comparative Data - Consolidated Balance Sheets (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Feb. 09, 2025	Sep. 30, 2024	Jun. 30, 2024	Feb. 09, 2024	Dec. 31, 2023	Jun. 30, 2023
Current assets
Cash and cash equivalents	$ 2,692,063	$ 7,533,690			$ 6,558,176			$ 1,132,900
Cash segregated - customers	29,291,802	21,874,954			20,548,972
Cash segregated - PAB	200,563	200,575			200,738
Receivables - broker-dealers and clearing organizations	13,649,538	4,179,625			1,333,306
Receivables - customers, net of allowance for credit losses of $401,128	980,988	320,815			823,784
Other receivables	47,155	251,099			64,842
Prepaid expenses					67,967			29,458
Trading securities, market value, net	1,435	5			55
Due from Atlas Clear								49,806
Total Current Assets	47,206,193	34,933,938			29,597,840			1,212,164
Operating lease right to use lease asset	152,146	179,267	$ 179,267		326,336	$ 395,063
Property and equipment, net					16,080
Customer list, net	12,624,914	12,932,106			14,150,856
Goodwill	6,142,525	6,142,525			7,706,725
Pacsquare asset purchase	1,736,501	1,785,104			1,726,500
Bank acquisition deposit					91,200
Cash deposits - broker-dealers and clearing organizations					3,515,000
Other assets	628,835	591,248			336,017
Marketable securities held in Trust Account								57,409,747
TOTAL ASSETS	73,634,759	60,892,833			57,466,554			58,621,911
Current liabilities
Payables to customers	31,312,809	23,935,348			20,162,973
Accounts and payables to officers/directors	352,536	199,088			686,579
Accounts payable and accrued expenses	5,329,871	6,194,311			5,393,912			5,181,488
Payables - broker-dealers and clearing organizations	1,735,543	497,660			4,915
Commissions, payroll and payroll taxes	386,589	395,214			273,386
Current portion of lease liability	114,271	111,983			149,499
Convertible notes, net	4,458,025				3,783,437
Secured convertible note, net					6,857,101
Promissory notes	691,240	1,207,797			852,968
Short-term merger financing, net					5,092,083
Contingent guarantee					3,256,863	$ 3,256,863		3,256,863
Subscription agreement	691,321	2,489,945			2,425,647
Excise tax payable	2,673,056	2,611,618			2,067,572			1,485,236
Advance from related parties								1,968,116
Total Current Liabilities	49,631,940	41,003,400			51,321,915			9,114,840
Accrued contingent liability	100,000	100,000			100,000
Long-term merger financing, net					7,606,561
Derivative liability - convertible notes					16,462,690
Derivative liability - warrants	184,593	123,062			307,656			307,656
Earnout - liability	11,485,000	11,369,000			12,298,000
Deferred income tax liability					5,245,886
Subordinated borrowings	1,930,000	1,930,000			1,950,000
Trading account deposit	100,000	100,000			100,000
Long-term lease liability	41,346	70,746			182,729
TOTAL LIABILITIES	66,778,576	67,690,281			95,575,437			9,422,496
Commitments and Contingencies
Common stock subject to possible redemption								57,113,761
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value;
Common stock, value	12,681	4,016			21			503
Additional paid-in capital	149,848,705	135,763,445			110,165,209
Accumulated deficit	(142,964,114)	(142,523,820)			(148,274,113)			(7,914,849)
TOTAL STOCKHOLDERS' DEFICIT	6,856,183	(6,797,448)		$ (23,162,035)	(38,108,883)		$ (11,512,876)	(7,914,346)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 73,634,759	$ 60,892,833			57,466,554			58,621,911
Nonrelated Party
Current liabilities
Stock payable					259,893
Related Party
Current liabilities
Stock payable					$ 55,087
Promissory notes								$ 480,000

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS -Transition Period Comparative Data - Consolidated Balance Sheets Parentheticals (Details) - $ / shares	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS - Transition Period Comparative Data - Statements of consolidated Net Income (loss) (Details) - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025	Jun. 30, 2025
REVENUES
Commissions	$ 2,334,389	$ 1,383,828	$ 1,750,159		$ 2,679,673			$ 5,937,532
Vetting fees	371,700	365,383	340,050		499,125			1,459,321
Clearing fees	714,349	1,047,712	624,550		756,393			3,165,714
Net gain/(loss) on firm trading accounts	(111)	1,711	6,390		10,046			6,580
Other revenue	830,263	5,448	9,650		56,246			287,465
TOTAL REVENUES	4,250,590	2,804,082	2,730,799		4,001,483			10,856,612
EXPENSES
Compensation, payroll taxes and benefits	3,123,630	1,279,304	1,355,058		2,386,837			6,150,257
Data processing and clearing costs	584,250	611,646	843,824		1,299,527			2,104,107
Regulatory, professional fees and related expenses	250,573	1,095,819	112,216		11,649,470			4,137,631
Stock compensation - founder share transfer					1,462,650
Communications	218,869	152,754	172,018		254,608			650,560
Occupancy and equipment	36,751	54,004	54,765		76,324			211,347
Transfer fees	48,160	51,590	54,807		75,425			210,423
Bank charges	58,718	55,901	52,077		88,253			223,938
Intangible assets amortization	355,795	307,191	337,911		791,375			1,362,446
Other	295,631	136,975	147,042		185,840			324,358
Other operating and formation cost				$ 577,313		$ 1,485,122
TOTAL EXPENSES	5,127,828	3,745,184	3,129,718	577,313	18,270,309	1,485,122		15,773,893
LOSS FROM OPERATIONS	(877,238)	(941,102)	(398,919)	(577,313)	(14,268,826)	(1,485,122)		(4,917,281)
OTHER INCOME/(EXPENSE)
Interest income	486,357	606,758	587,637	8,458	1,195,081	8,458		1,996,399
Interest earned on marketable securities held in Trust Account				727,468	256,279	2,028,921
Gain on sale of assets			146,706		146,706
Net gain on settlement				829,853	146,706	829,853
Loss on AtlasClear asset acquisition			(17,845,813)		(86,392,769)
Change in fair value, warrant liability derivative	(61,531)	246,125	307,656	(184,594)		(123,062)		184,594
Change in fair value, convertible note derivative	(52,873)	3,167,309	(992,152)		(3,585,902)			3,990,385
Change in fair value, long-term and short-term note derivative	103,185	11,152,870	(3,101,057)		(11,208,055)			12,369,120
Change in fair value, non-redemption agreement					(164,626)
Change in fair value, contingent guarantee		(839,775)	(3,256,863)		(3,256,863)		$ (839,775)	(839,775)
Change in fair value, earnout liability	(116,000)	(340,000)	(1,115,000)		(1,335,000)			929,000
Change in fair value, subscription agreement	1,798,624	(34,841)	(4,413,946)		(38,796)			(64,298)
Extinguishment of stock payable			985,072		985,072
Extinguishment of accrued expenses			114,199		879,473
Interest expense	(1,434,210)	(1,456,996)	(3,210,786)		(3,732,178)			(8,081,938)
TOTAL OTHER INCOME/(EXPENSE)	283,909	11,710,887	(31,794,347)	1,381,185	(106,507,857)	2,744,170		10,408,193
NET INCOME/(LOSS) BEFORE INCOME TAXES	(593,329)	10,769,785	(32,193,266)	803,872	(120,776,683)	1,259,048		5,490,912
Provision for income taxes	153,035	(21,752)	563,736	(318,313)	569,736	(581,118)		259,381
NET INCOME/(LOSS)	$ (440,294)	$ 10,748,033	$ (31,629,530)	$ 485,559	$ (120,206,947)	$ 677,930		$ 5,750,293

DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS - Transition Period Comparative Data - Statements of consolidated cash flow (Details) - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
Cash Flows from Operating Activities:
Net income (loss)	$ (440,294)	$ 10,748,033	$ (31,629,530)	$ 485,559	$ (120,206,947)	$ 677,930		$ 5,750,293
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in fair value of warrant liability	61,531	(246,125)	(307,656)	184,594		123,062		(184,594)
Change in fair value of non-redemption agreement liability					164,626
Loss on AtlasClear asset acquisition					86,392,769
Change in fair value, convertible note derivative	52,873	(3,167,309)			3,585,904			(3,990,385)
Change in fair value, long-term and short-term note derivative	(103,185)	(11,152,870)	3,101,057		11,208,055			(12,369,120)
Interest expense on convertible notes					1,896,714			7,276,092
Transaction costs paid with stock					1,401,937
Stock based compensation	155,411	2,578			1,462,650			83,745
Change in fair value, earnout liability	116,000	340,000	1,115,000		1,335,000			(929,000)
Fee on Secured convertible note					1,500,000
Change in operating lease expense					68,727
Change in fair value, contingent guarantee		839,775	3,256,863		3,256,863		$ 839,775	839,775
Interest earned on marketable securities held in Trust Account					(251,569)	(2,028,921)
Change in fair value, subscription agreement	(1,798,624)	34,841	4,413,946		38,796			64,298
Depreciation expense		4,569			7,565			16,080
Amortization of intangibles	355,795	307,191	337,911		791,375			1,362,446
Bad debt	40	639			2,474			398,826
Changes in operating assets and liabilities:
Payable to brokers & dealers	1,237,883	15,323			(12,903)			492,745
Income taxes payable						44,118
Marketable securities					6,820
Receivables from brokers & dealers	(9,469,913)	(583,869)			2,203,271			(2,846,319)
Receivables from customers	(660,213)	652,455			(303,486)			104,143
Receivables from others	(1,294)	(57,235)			(59,043)			18,981
Advances and Prepaid expenses	230,526	23,692			133,158	4,194		3,222
Cash deposits with clearing organization & other B/Ds	(750,000)				21,664			(750,000)
Change in operating lease right-of-use asset					(11,713)
Other assets	(37,587)				49,041			(255,231)
Payables to customers	7,377,461	(153,100)			(5,124,740)			3,772,375
Payables to officers & directors	153,448	42,357			98,048			(487,491)
Deferred tax liability					(43,484)
Accounts payable and accrued expenses	(920,453)	223,401			(1,066,430)	443,812		1,862,062
Commissions and payroll taxes payable	(8,625)	(51,617)			39,638			121,828
Stock Loan					259,893
Change in operatin lease right-of-use asset					(56,900)
Net cash provided by (used for) operating activities	(2,500,236)	175,607			(11,212,227)	(785,611)		822,027
Cash Flows from Investing Activities:
Cash withdrawn from Trust Account to pay franchise and income taxes					68,418
Investment of cash into Trust Account					(160,000)	(875,000)
Cash withdrawn from Trust Account in connection with redemption					53,947,064	1,015,001
Cash paid for purchase of Pacsquare	(65,000)	(65,000)			(500,000)			(125,000)
Cash received from acquisition of Wilson-Davis					33,333,876
Cash withdrawn from Trust Account for working capital purposes					1,195,565	148,523,642
Cash paid to Wilson Davis shareholders					(8,092,568)
Net cash used for investing activities	(65,000)	(65,000)			79,792,355	148,663,643		(145,000)
Cash Flows from Financing Activities:
Gross purchase price	4,700,000				6,000,000
Transaction costs financed					5,002,968
Repayment of advances from related party						(300,000)
Advances from related party					1,052,300	1,948,950
Redemption of common stock					(53,947,064)	(148,523,642)
Net cash provided by financing activities	5,140,445	148,383			(41,891,796)	(146,874,692)		1,624,306
Net Change in Cash	2,575,209	258,990			26,688,332	1,003,340		2,301,333
Cash at beginning of period	29,609,219	27,307,886			619,554		27,566,876	27,307,886	$ 1,132,900
Cash at end of period	$ 32,184,428	$ 27,566,876	$ 27,307,886	$ 1,132,900	27,307,886	1,132,900	$ 29,609,219	29,609,219	$ 27,307,886
Supplemental cash flow information:
Cash paid for income taxes						537,000
Supplemental disclosure of non-cash investing and financing activities:
Shares issued to settled advances from related party and notes payable related party					4,577,569
Transaction cost settled with subscription payable					2,386,851
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition					31,347,000
Fair value of shares issued in AtlasClear, Inc asset acquisition					44,400,000
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition					10,963,000
Fair value of shares transferred to Wilson Davis shareholders					6,000,000
Short term notes issued to Wilson Davis shareholders					5,000,000
Long term notes issued to Wilson Davis shareholders					7,971,197
Common stock issued to settled vendor obligations					64,376
Fair value of shares transferred to Secured convertible note holders					1,250,698
Redeemable shares transferred to permanent equity					1,195,566
Non-redemption agreement re-classed to permanent equity					1,606,279
Shares issued to purchase Pacsquare					1,226,500
Shares issued as deposit for Commercial bank acquisition					91,200
Initial value of derivative liability on convertible notes					1,668,731
Interest settled with shares					210,550
Interest settled with shares transferred by related party					48,750
Cancellation of admin fees						120,000
Excise tax related to redemptions					539,471	1,485,236
Accretion of common stock subject to possible redemption					$ 592,577	2,217,201
ATLASCLEAR, INC
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization of intangibles								(317,231)
Changes in operating assets and liabilities:
Payable to brokers & dealers						$ (49,806)
Supplemental disclosure of non-cash investing and financing activities:
Fair value of equity treated earnout in AtlasClear, Inc asset acquisition								31,347,000
Fair value of liability treated earnout in AtlasClear, Inc asset acquisition								$ 10,963,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		6 Months Ended	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2025 USD ($) segment item	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2025 USD ($) item segment
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Goodwill	$ 6,142,525		$ 7,706,725	$ 6,142,525
Impairment charges	$ 0	$ 0	17,845,813	$ 0
Number of financial institutions in cash deposit \| item	2			2
Excess amount of the FDIC limit	$ 0			$ 7,278,320
Minimum securities to margin obligations ratio				4
Number of reportable segment \| segment	1			1
Minimum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Useful lives				3 years
Maximum
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Useful lives				7 years
Developed technology
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Useful lives				10 years
Intangible assets, net			1,726,500	$ 1,785,104
Customer list
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Useful lives				12 years
Intangible assets, net			$ 14,150,856	$ 12,932,106

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of basic and diluted net income (loss) per share of common stock (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025
Numerator:
Net income (loss)	$ (440,294)	$ 10,748,033	$ (31,629,530)	$ 485,559	$ (120,206,947)	$ 677,930	$ 5,750,293
Denominator:
Basic weighted average common stock outstanding (in shares)	59,947,249	256,405
Diluted weighted average shares outstanding (in shares)	59,947,249	1,892,470
Basic net (loss) income per common stock (in dollars per share)	$ (0.01)	$ 41.92
Redeemable
Numerator:
Net income (loss)					(11,279,605)
Allocation of net income (loss)					$ (11,279,605)		$ 5,750,820
Denominator:
Basic weighted average common stock outstanding (in shares)					18,500		5,987,645
Diluted weighted average shares outstanding (in shares)					18,500		5,987,645
Basic net (loss) income per common stock (in dollars per share)					$ (609.72)
Non-redeemable
Numerator:
Net income (loss)					$ (108,927,342)		$ 5,750,820
Deemed dividend					(15,422,431)
Allocation of net income (loss)					$ (124,349,773)		$ 5,750,820
Denominator:
Basic weighted average common stock outstanding (in shares)					178,651		5,987,645
Diluted weighted average shares outstanding (in shares)					178,651		5,987,645
Basic net (loss) income per common stock (in dollars per share)					$ (696.05)		$ 0.96

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of diluted net income (loss) per share of common stock (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
Numerator:
Change in fair value of financial instruments		$ (12,655,000)
Interest on dilutive instruments		1,419,843
Allocation of net income (loss), as adjusted	$ (440,294)	$ (487,124)
Denominator:
Dilutive weighted average common stock outstanding (in shares)	59,947,249	256,405
If converted shares		1,636,065
Diluted weighted average shares outstanding (in shares)	59,947,249	1,892,470
Diluted net (loss) income per common stock (in dollars per share)	$ (0.01)	$ (1.9)
Redeemable
Numerator:
Allocation of net income (loss),			$ (11,279,605)	$ 5,750,820
Change in fair value of financial instruments				(15,147,345)
Interest on dilutive instruments				7,148,116
Allocation of net income (loss), as adjusted			$ (11,279,605)	$ (2,248,409)
Denominator:
Dilutive weighted average common stock outstanding (in shares)			18,500	5,987,645
Diluted weighted average shares outstanding (in shares)			18,500	5,987,645
Diluted net (loss) income per common stock (in dollars per share)			$ (609.72)	$ (0.38)
Non-redeemable
Numerator:
Allocation of net income (loss),			$ (124,349,773)	$ 5,750,820
Allocation of net income (loss), as adjusted			$ (124,349,773)
Denominator:
Dilutive weighted average common stock outstanding (in shares)			178,651	5,987,645
Diluted weighted average shares outstanding (in shares)			178,651	5,987,645
Diluted net (loss) income per common stock (in dollars per share)			$ (696.05)	$ (0.38)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of dilutive instruments (Details) - shares	3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive		1,636,065
Total excluded under treasury method - out of the money	16,215,625	16,215,625	16,215,625	16,215,625
Sellers Notes
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive		817,513	14,012,965	15,103,895
Convertible notes
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive			4,722,875	5,317,252
Secured convertible note
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive	670,307	436,705	9,801,273	49,230,040
Subscription agreement
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive	1,195,986	46,978	938,967	4,354,048
Tau agreement
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive		20,892		35,282
Promissory note
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive	576,616	5,691	379,375	6,215
Total Shares issuable under Convertible Note obligations
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total Shares issuable under Convertible Note obligations - if converted total dilutive	8,305,480	1,653,012	29,855,455	74,046,732
Public Warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total excluded under treasury method - out of the money	10,062,500	10,062,500	10,062,500	10,062,500
Private Warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total excluded under treasury method - out of the money	5,553,125	5,553,125	5,553,125	5,553,125
Secured convertible note warrants
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total excluded under treasury method - out of the money	600,000	600,000	600,000	600,000

CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS (Details) - USD ($)	Oct. 01, 2025	Sep. 30, 2025	Jul. 01, 2025	Jun. 30, 2025	Jun. 30, 2024
Customers transactions and credit balances
CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS
Calculated required reserve		$ 29,793,711		$ 20,890,603	$ 19,326,300
Cash on deposit in the reserve account		29,189,001		21,175,129	19,677,378
Cash reserve deposit more than amount required		604,710		284,526	351,078
Customers transactions and credit balances \| Subsequent Event
CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS
Amount deposited to reserve account in accordance with the rule	$ 1,200,000		$ 225,000
Cash on deposit in the reserve account in excess of the amount required	$ 595,291		$ 509,526
Broker-dealer transactions and credit balances
CASH SEGREGATED IN ACCORDANCE WITH FEDERAL REGULATIONS
Calculated required reserve		100,000		100,000	100,000
Cash on deposit in the reserve account		200,563		200,575	200,738
Cash reserve deposit more than amount required		$ 100,563		$ 100,575	$ 100,738

NET CAPITAL REQUIREMENTS (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
NET CAPITAL REQUIREMENTS
Net capital	$ 12,281,941	$ 11,190,362	$ 10,437,312
Net capital in excess of the minimum required	$ 12,031,941	$ 10,940,362	$ 10,187,312

CASH AND RESTRICTED CASH (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
CASH AND RESTRICTED CASH
Cash and cash equivalents	$ 2,692,063	$ 7,533,690			$ 6,558,176		$ 1,132,900
Cash segregated - customers	29,291,802	21,874,954			20,548,972
Cash segregated - PAB	200,563	200,575			200,738
Total cash and restricted cash shown in the statement of cash flows.	$ 32,184,428	$ 29,609,219	$ 619,554	$ 27,566,876	$ 27,307,886	$ 619,554	$ 1,132,900

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
Receivable from broker dealers and the clearing organization
Due from clearing organizations, net		$ 4,021,151	$ 1,094,453
Fails to deliver and receive		158,474	238,853
Total receivables	$ 13,649,538	4,179,625	1,333,306
Payables to broker dealers and the clearing organization
Due from clearing organizations, net		481,006	3,003
Fails to deliver and receive		16,654	1,912
Total payables	$ 1,735,543	$ 497,660	$ 4,915

RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION - Additional information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2025
RECEIVABLES & PAYABLES WITH BROKER DEALERS AND CLEARING ORGANIZATION
Losses on receivables from broker dealers or clearing organizations	$ 0	$ 0
Bad debt expense	$ 15,000	$ 396,826

PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
PROPERTY AND EQUIPMENT
Depreciation expense	$ 4,569	$ 7,565	$ 16,080

PROPERTY AND EQUIPMENT - Summary of major classifications of property and equipment (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Property, Plant and Equipment
Property and equipment, gross	$ 376,048	$ 376,048
Less: Accumulated depreciation and Amortization	(376,048)	(359,968)
Property and equipment, net		16,080
Equipment
Property, Plant and Equipment
Property and equipment, gross	150,202	150,202
Leasehold improvements
Property, Plant and Equipment
Property and equipment, gross	89,087	89,087
Software
Property, Plant and Equipment
Property and equipment, gross	85,042	85,042
Furniture and fixtures
Property, Plant and Equipment
Property and equipment, gross	$ 51,717	$ 51,717

RELATED PARTY TRANSACTIONS - Related Party Share Issuance/Transfers (Details) - USD ($)				1 Months Ended	3 Months Ended			12 Months Ended
	Aug. 11, 2025	Aug. 09, 2024	Feb. 09, 2024	Jul. 31, 2024	Sep. 30, 2025	Mar. 31, 2025	Sep. 30, 2024	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
RELATED PARTY TRANSACTIONS
Conversion, shares transferred				42,510
Conversion, capital transferred				2,412,930
Shares issued as payment towards contingent guarantee				$ 1,210,290
Common stock, value					$ 12,681			$ 4,016		$ 21	$ 503
Common stock issued to for consulting services (in shares)	200,000
Common stock, par value (in dollars per share)					$ 0.0001			$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Shares issued under Tau agreement settled							$ 148,381	$ 1,870,381
Post Reverse Split
RELATED PARTY TRANSACTIONS
Shares issued under Tau agreement settled			$ 1,462,650
Promissory Notes
RELATED PARTY TRANSACTIONS
Shares issued to pay interest on convertible notes				21,299
Principal amount					$ 438,922
Secured convertible notes
RELATED PARTY TRANSACTIONS
Shares issued to pay interest on convertible notes				217,397
Chardan Note
RELATED PARTY TRANSACTIONS
Shares issued to pay interest on convertible notes				212,803
Principal amount				400,000	$ 959,764
Shares transferred							37,717	4,250,000
Chardan Note \| Pre Reverse Split
RELATED PARTY TRANSACTIONS
Shares transferred								2,744,623
Short and Long Term Notes
RELATED PARTY TRANSACTIONS
Shares issued to pay interest on convertible notes				$ 351,141
Quantum Ventures LLC \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred								6,113
Quantum Ventures LLC \| Chardan Note
RELATED PARTY TRANSACTIONS
Conversion, shares transferred							6,113
Quantum Ventures LLC \| Chardan Note \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred								2,427
Quantum Ventures LLC \| Sponsor \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, capital transferred				2,550,588
Quantum Ventures LLC \| Sponsor \| Shares issuable pursuant to Short Term and Long Term Notes
RELATED PARTY TRANSACTIONS
Conversion, shares transferred				25,982
Quantum Ventures LLC \| Sponsor \| Shares issuable pursuant to Short Term and Long Term Notes \| Pre Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred				1,558,923
Atlas FinTech
RELATED PARTY TRANSACTIONS
Shares transferred		46,471
Common stock, value		$ 803,860
Reimbursement shares transferred		22,292
Common stock issued to for consulting services (in shares)		68,763
Common stock, par value (in dollars per share)		$ 0.0001
Atlas FinTech \| Pre Reverse Split
RELATED PARTY TRANSACTIONS
Shares transferred		2,788,276
Reimbursement shares transferred								1,337,500
Number of additional shares issued		991,665
Common stock issued to for consulting services (in shares)		4,125,776
Atlas FinTech \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred								2,119
Shares transferred		46,471
Reimbursement shares transferred		22,292
Number of additional shares issued		16,528
Common stock issued to for consulting services (in shares)		68,763
Atlas FinTech \| Chardan Note
RELATED PARTY TRANSACTIONS
Conversion, shares transferred							2,119
Atlas FinTech \| Chardan Note \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred								877
Atlas FinTech \| Sponsor \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, capital transferred				42,510
Atlas FinTech \| Sponsor \| Shares issuable pursuant to Short Term and Long Term Notes
RELATED PARTY TRANSACTIONS
Conversion, shares transferred				16,528
Atlas FinTech \| Sponsor \| Shares issuable pursuant to Short Term and Long Term Notes \| Pre Reverse Split
RELATED PARTY TRANSACTIONS
Conversion, shares transferred				991,665
Atlas FinTech \| Related Party
RELATED PARTY TRANSACTIONS
Value of shares transferred						$ 177,334
Shares issued under Tau agreement settled						$ 27,282

RELATED PARTY TRANSACTIONS - Advances from Related Parties (Details) - USD ($)				6 Months Ended
	Aug. 09, 2024	Jun. 30, 2024	Feb. 09, 2024	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2025	Jun. 30, 2025	Mar. 21, 2025	Dec. 27, 2024	Dec. 31, 2023	Dec. 31, 2022
RELATED PARTY TRANSACTIONS
Advances from related parties					$ 1,968,116
Advance amount		$ 686,579		$ 686,579		$ 352,536	$ 199,088
Related party loan				$ 1,052,300	$ 1,948,950
Sale price per share (in dollars per share)			$ 60
Number of shares issued for settlement			33,333
Liabilities settled			$ 4,636,397
Receivables settled			58,828
Deemed dividend to the related party			15,422,431
Director
RELATED PARTY TRANSACTIONS
Advance amount							20,000	$ 6,000	$ 9,000
Former officer and director
RELATED PARTY TRANSACTIONS
Advance amount							$ 164,088
Co-Sponsors
RELATED PARTY TRANSACTIONS
Advances from related parties			4,156,397							$ 3,104,097	$ 319,166
Proceeds from related party			1,052,300
Co-sponsors have advanced			58,828
Related Party Loan
RELATED PARTY TRANSACTIONS
Related party loan			$ 480,000
AtlasFintech Holdings Corp
RELATED PARTY TRANSACTIONS
Business combination expense		$ 803,860
AtlasFintech Holdings Corp \| Pre Reverse Split
RELATED PARTY TRANSACTIONS
Shares issued as settlement in related party payable	2,788,276
AtlasFintech Holdings Corp \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Shares issued as settlement in related party payable	46,471

RELATED PARTY TRANSACTIONS - Founder Shares (Details) - USD ($)		3 Months Ended	12 Months Ended
	Feb. 09, 2024	Sep. 30, 2024	Jun. 30, 2025
RELATED PARTY TRANSACTIONS
Shares issued under Tau agreement settled		$ 148,381	$ 1,870,381
Sale price per share (in dollars per share)	$ 60
Post Reverse Split
RELATED PARTY TRANSACTIONS
Shares issued under Tau agreement settled	$ 1,462,650
Director
RELATED PARTY TRANSACTIONS
Sale price per share (in dollars per share)	$ 358.2
Director \| Post Reverse Split
RELATED PARTY TRANSACTIONS
Common Stock issued during period (in shares)	4,083

- 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

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
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-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
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-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

+ Details

- Definition

Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.

+ References + Details

RELATED PARTY TRANSACTIONS - Related Party Loans (Details) - USD ($)	Feb. 09, 2024	Mar. 14, 2022
RELATED PARTY TRANSACTIONS
Working capital loans		$ 480,000
Qvent, LLC \| Affiliate of sponsor
RELATED PARTY TRANSACTIONS
Shares issued in settlement of obligations (in shares)	33,333

- 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

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Registration Rights (Details)	Aug. 14, 2024 shares
Pre-Split Basis
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Maximum number of shares can be resale as per registration statement	77,577,099
Post-Split Basis
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Maximum number of shares can be resale as per registration statement	34,532,737

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Earnout liability (Details) - USD ($)		12 Months Ended
	Feb. 09, 2024	Jun. 30, 2025	Sep. 30, 2025	Dec. 31, 2024	Aug. 09, 2024	Jun. 30, 2024	Jun. 30, 2023
COMMITMENTS AND CONTINGENCIES
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares		18 months
Period for measurement of revenue targets (in years)		5 years
Earnout - liability		$ 11,369,000	$ 11,485,000			$ 12,298,000
Atlas FinTech
COMMITMENTS AND CONTINGENCIES
Common stock, par value (in dollars per share)					$ 0.0001
Earn Out Shares, maximum shares issuable to stockholders (in shares)		5,944,444
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares		18 months
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders		$ 20,000,000
Period for measurement of revenue targets (in years)		5 years
ATLASCLEAR, INC
COMMITMENTS AND CONTINGENCIES
Shares issued as purchase consideration for the assets (in shares)	74,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Earn Out Shares, maximum shares issuable to stockholders (in shares)	5,944,444	5,944,444
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares	18 months
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders		$ 20,000,000
ATLASCLEAR, INC \| Pre Reverse Split
COMMITMENTS AND CONTINGENCIES
Shares issued as purchase consideration for the assets (in shares)	4,440,000
ATLASCLEAR, INC \| Post Reverse Split
COMMITMENTS AND CONTINGENCIES
Shares issued as purchase consideration for the assets (in shares)	74,000	74,000
ATLASCLEAR, INC \| Atlas FinTech
COMMITMENTS AND CONTINGENCIES
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders	$ 20,000,000
Period for measurement of revenue targets (in years)	5 years

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Business Combination Marketing Agreement and Chardan Note (Details) - USD ($)							1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	Oct. 01, 2025	Sep. 19, 2025	Jul. 01, 2025	Oct. 23, 2024	Aug. 09, 2024	Feb. 09, 2024	Jul. 31, 2024	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025	Oct. 08, 2025
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Marketing fees payable to underwriters						$ 7,043,750
Convertible notes, net								$ 4,458,025		$ 3,783,437
Conversion, shares transferred							42,510
Interest expense										$ 1,896,714	$ 7,276,092
Amortization of discount								513,201
Unamortized discount											27,167
Total carrying balance											$ 980,112
Quantum Ventures LLC \| Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion, shares transferred											6,113
Atlas FinTech
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares transferred					46,471
Atlas FinTech \| Pre Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares transferred					2,788,276
Atlas FinTech \| Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares transferred					46,471
Conversion, shares transferred											2,119
Subsequent event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount												$ 10,097,782
Interest amount	$ 57,821		$ 57,821
Chardan Note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount				$ 5,209,764		$ 4,150,000
Shares transferred									37,717		4,250,000
Period to file registration statement with SEC						45 days
Minimum period for which the registration statement with SEC is suspended, considered for increase in interest rate						15 days
Incremental weekly interest rate, if the registration statement is not filed or is not effective or terminated or suspended (in percent)						2.00%
Conversion amount				$ 5,209,764				959,764	$ 725,000
Conversion rate, as a percentage of trailing specified trading day VWAP (in percent)				90.00%
Convertible notes, net											$ 3,282,518
Shares issued as conversion in principle on convertible notes (in shares)									29,485
Interest amount									$ 212,803		212,803
Interest expense									137,872		137,872
Amortization of discount								$ 240,897	$ 86,209		1,772,558
Principal balance											959,764
Unamortized discount											240,897
Total carrying balance											718,867
Chardan Note \| Contractual Interest Rate Reduction
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Financing receivable excluding accrued interest											$ 5,209,764
Chardan Note \| Pre Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares transferred											2,744,623
Conversion amount											$ 4,975,000
Shares issued as conversion in principle on convertible notes (in shares)											2,736,391
Chardan Note \| Quantum Ventures LLC
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion, shares transferred									6,113
Chardan Note \| Quantum Ventures LLC \| Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion, shares transferred											2,427
Chardan Note \| Atlas FinTech
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion, shares transferred									2,119
Chardan Note \| Atlas FinTech \| Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion, shares transferred											877
Chardan Note \| Subsequent event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares transferred		959,764

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Commercial Bancorp (Details) - USD ($)					3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2025	May 14, 2025	Mar. 13, 2025	Nov. 14, 2024	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
Loss Contingencies [Line Items]
Number of shares issued in the acquisition					1,234,990		1,234,990
Shares issued as deposit for the Commercial Bank acquisition						$ 91,200	$ 43,645
Commercial Bancorp
Loss Contingencies [Line Items]
Common Stock issued during period (in shares)				8,333
Number of shares				667
Number of shares issued in the acquisition			36,070				36,070
Shares issued as deposit for the Commercial Bank acquisition			$ 43,645
Market price of public shares (in Dollars per share)			$ 1.21
Termination extension fee		$ 5,000
Termination extension term		14 days
Payment of termination extension fee							$ 20,000
Commercial Bancorp \| Subsequent event
Loss Contingencies [Line Items]
Payment of termination extension fee	$ 30,000

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Expense Settlements (Details)												1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	Oct. 13, 2025 USD ($) shares	Oct. 08, 2025 USD ($)	Oct. 01, 2025 $ / shares shares	Aug. 29, 2025 shares	Aug. 11, 2025 USD ($) shares	Jul. 01, 2025 $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Jun. 23, 2025 USD ($) $ / shares shares	Jan. 15, 2025 USD ($) $ / shares shares	Feb. 19, 2024 $ / shares shares	Feb. 09, 2024 USD ($) installment $ / shares shares	Oct. 31, 2025 USD ($)	Sep. 30, 2025 USD ($) $ / shares	Sep. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2025 USD ($) $ / shares shares	Dec. 31, 2024 $ / shares	Jun. 30, 2023 $ / shares
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares					200,000
Sale price per share (in dollars per share) \| $ / shares											$ 60
Stock subscription receivable							$ 41,089						$ 41,089			$ 41,089
Common stock, par value (in dollars per share) \| $ / shares							$ 0.0001						$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Value of stock issued for services					$ 40,000									$ 2,578		$ 44,341
Change in fair value, stock payable														$ (196,151)	$ (985,072)	(232,793)
Interest expense on convertible notes															1,896,714	7,276,092
Promissory notes							$ 1,207,797						$ 691,240		852,968	1,207,797
Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares	325,000		356,901		200,000	356,901
Sale price per share (in dollars per share) \| $ / shares			$ 0.162			$ 0.162
Value of stock issued for services	$ 132,372				$ 40,000
Convertible amount		$ 4,250,000										$ 4,250,000
Aggregate principal amount		$ 10,097,782
Interest Solutions, LLC
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Sale price per share (in dollars per share) \| $ / shares											$ 120
Number of shares issuable upon debt conversion \| shares											2,408
Convertible amount											$ 275,000
Interest rate (in percent)											13.00%
Interest expense on convertible notes													8,913			35,652
Transferred registered shares \| shares														9,011
Accrued interest net							9,011							$ 9,011		9,011
Promissory notes							315,549						324,462		288,908	315,549
JonesTrading Institutional Services LLC
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Sale price per share (in dollars per share) \| $ / shares											$ 120
Number of shares issuable upon debt conversion \| shares											3,283
Convertible amount											$ 375,000
Interest rate (in percent)											13.00%
Interest expense on convertible notes													8,627	12,288		$ 48,617
Transferred registered shares \| shares																101
Accrued interest net							12,288							$ 12,288		$ 12,288
Promissory notes							430,295						0		393,966	430,295
Toppan Merrill LLC
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Interest rate (in percent)											13.00%
Interest expense on convertible notes																15,694
Promissory notes							185,788						55,025		$ 170,094	185,788
Aggregate principal amount											$ 160,025
Carriage House Capital, Inc
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares									4,166	5,833	1,667
Sale price per share (in dollars per share) \| $ / shares										$ 298.8	$ 298.8
Number of unissued shares \| shares															4,166
Stock subscription receivable															$ 259,893
Common stock, par value (in dollars per share) \| $ / shares															$ 62.38
Market price of public shares (in Dollars per share) \| $ / shares									$ 6.5
Value of stock issued for services									$ 27,100
Change in fair value, stock payable									$ 232,793
Carriage House Capital, Inc \| Due upon signing of the contract
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares										16,677
Carriage House Capital, Inc \| Due, signing of the contract
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares										4,166
Carriage House Capital, Inc \| Maximum
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares										5,833
Winston & Strawn LLP
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Value of shares issuable for services											$ 2,500,000
Number of installments \| installment											3
Value of shares issuable for services in each installment											$ 833,333
Subscription payable, liability							$ 2,489,945						$ 691,321		$ 2,425,647	$ 2,489,945
Winston & Strawn LLP \| Maximum
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Number of shares issuable for services \| shares											2,500,000
Outside The Box Capital Inc
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares																6,919
Market price of public shares (in Dollars per share) \| $ / shares							$ 5.7									$ 5.7
Value of stock issued for services																$ 39,404
Locbox Technologies, Inc
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares							203,425
Market price of public shares (in Dollars per share) \| $ / shares							$ 0.2053									$ 0.2053
Value of stock issued for services							$ 41,763
Payment for software services, Monthly payment							$ 20,000
Payment for software services in stock (in percent)							90.00%
Issuance of stock for payment of services							9.90%
Payment for services, Non-Payment of cash, Interest rate																13.00%
Payment for services, Right to acquire, Ownership percentage							5.00%
Payment for services, valuation amount							$ 10,000,000									$ 10,000,000
Payment for services right to acquire, investment amount							$ 500,000									$ 500,000
License fee paid considered as contribution (in percent)																50.00%
Individual Third Party
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares								100,000
Market price of public shares (in Dollars per share) \| $ / shares								$ 0.1905
Value of stock issued for services								$ 19,050
Stock promotion agreement, Performance of service period								6 months
Stock promotion agreement, Expense recognition period								6 months
Longside Ventures LLC \| Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares				200,000
Longside Ventures LLC \| Execution of the agreement, issued \| Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares				100,000
Longside Ventures LLC \| One-month anniversary \| Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock issued for services \| shares				100,000

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Secured Convertible Note Financing and Funicular Amendment (Details)			3 Months Ended		6 Months Ended	12 Months Ended
	Jan. 07, 2025 USD ($)	Feb. 09, 2024 USD ($) D $ / shares	Sep. 30, 2025 USD ($) $ / shares	Sep. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($)	Jun. 30, 2025 USD ($) $ / shares shares	Jun. 30, 2024 USD ($)	Dec. 31, 2024 USD ($)	Feb. 24, 2024 USD ($)
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Fee on Secured Convertible Note					$ 1,500,000
Interest expense on convertible notes					1,896,714	$ 7,276,092
Amortization of discount			$ 513,201
Secured convertible note, net					$ 6,857,101		$ 6,857,101
Unamortized discount (Premium), Net						27,167
Funicular Note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 6,000,000	$ 6,000,000				$ 9,422,271		$ 9,357,195	$ 6,000,000
Purchase price of notes		$ 6,000,000
Interest rate (in percent)	12.50%	12.50%
Interest rate in the event of default (in percent)	20.00%	20.00%
Restructuring gains	$ 0
Conversion price (in dollars per share) \| $ / shares			$ 0.15
Threshold trading days over which VWAP is considered to make monthly adjustments to the Conversion price \| D		5
Floor on Conversion price (in dollars per share) \| $ / shares						$ 0.15
Number of days notice required for redemption of notes		30 days
Redemption price as a percentage of the outstanding principal amount (in percent)		101.00%
Fee on Secured Convertible Note						$ 600,000	$ 1,500,000
Conversion amount						$ 509,549
Conversion, shares issued \| shares						258,678
Accrued amount						$ 1,831,819
Interest expense on convertible notes			$ 269,925	$ 246,660		1,720,449
Amortization of discount				180,085		457,922
Secured convertible note, net						8,909,070
Unamortized discount (Premium), Net			$ 0	$ 791,581		513,201
Shares transferred by related party for conversion (in shares) \| shares				368,004
Pay for accrued interest				$ 217,373		$ 217,373
Funicular Note \| Pre Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion price (in dollars per share) \| $ / shares		$ 10
Floor on Conversion price (in dollars per share) \| $ / shares		2
Market price of public shares (in Dollars per share) \| $ / shares		2
Shares transferred by related party for conversion (in shares) \| shares						368,004
Funicular Note \| Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Conversion price (in dollars per share) \| $ / shares		600
Floor on Conversion price (in dollars per share) \| $ / shares		120
Market price of public shares (in Dollars per share) \| $ / shares		$ 120
Shares transferred by related party for conversion (in shares) \| shares						6,133

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Sellers Note (Details) - USD ($)		3 Months Ended		6 Months Ended	12 Months Ended
	Feb. 07, 2024	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Interest expense on convertible notes				$ 1,896,714	$ 7,276,092
Amortization of discount		$ 513,201
Unamortized discount (Premium), Net					$ 27,167
Short-term merger financing, net				$ 5,092,083
Short Term Notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 5,000,000
Maturity due	90 days
Interest rate (in percent)	9.00%
Interest payable in shares, as a percentage of trailing specified trading day VWAP (in percent)	90.00%
Conversion rate, as a percentage of trailing seven-trading day VWAP, if an event of default occurs and is continuing (in percent)	90.00%
Long-Term Notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 7,971,000
Maturity due	24 months
Interest rate (in percent)	13.00%
Conversion rate, as a percentage of trailing seven-trading day VWAP, if an event of default occurs and is continuing (in percent)	85.00%
Conversion rate, as a percentage of trailing specified trading day VWAP (in percent)	90.00%
Sellers note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares issued as conversion in principle on convertible notes (in shares)			31,035		34,931,855
Shares transferred by related party for conversion (in shares)			6,133		6,133
Short term, seller notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Principal amount			$ 359,896		$ 5,000,000
Interest amount			7,530		366,979
Principal balance			$ 4,640,104
Shares transferred by related party for conversion (in shares)			92,083
Interest expense on convertible notes			$ 158,333		366,978
Pay for accrued interest					92,083
Accrued interest net			150,803
Unamortized discount (Premium), Net			0
long term, seller notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 7,971,000
Maturity due	24 months
Interest rate (in percent)	13.00%
Conversion rate, as a percentage of trailing seven-trading day VWAP, if an event of default occurs and is continuing (in percent)	85.00%
Principal amount					6,995,624
Interest amount					937,773
Principal balance			$ 7,971,197		975,573
Shares transferred by related party for conversion (in shares)			259,058
Interest expense on convertible notes			$ 259,063		969,473
Amortization of discount			99,890		594,370
Pay for accrued interest					98,483
Accrued interest net			259,064		31,706
Unamortized discount (Premium), Net			$ 521,646		27,167
Long-term merger financing, net					980,112
Merger financing
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Principal amount					1,439,586
Interest amount					$ 256,091

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Contingent Guarantee (Details) - USD ($)				3 Months Ended		5 Months Ended	9 Months Ended	12 Months Ended
	Aug. 09, 2024	Feb. 09, 2024	Feb. 07, 2024	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2023
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Value of founder shares transferred to cover cash deficit		$ 6,000,000	$ 4,000,000
Contingent guarantee		$ 3,256,863				$ 3,256,863			$ 3,256,863	$ 3,256,863
Shares of Founder Shares Transferred		885,010
Value of founder shares transferred		$ 4,000,000					$ 1,210,290
Contingent Guarantee Deemed Value		0
Amount of cash recovered through transfer of shares						743,137
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)					1,234,990			1,234,990
Reduction in the contingent guarantee					$ 1,210,290			$ 1,210,290
Stock Issued for Contingent Guarantee	$ 2,886,347
Percentage of convenience fees	5.00%
Amount of convertible notes issued	$ 3,030,665
Principal amount of guarantee to be converted								$ 1,439,586	1,439,586
Shares issued upon conversion of guarantee								256,091
Initial value of derivative included in merger financing					113,044			$ 113,044
Interest expense on the principal				$ 23,599	56,909			307,801
Amortization of debt discount				$ 24,215	$ 10,707			88,830
Derivative liability, carrying balance						$ 1,618,575	$ 1,618,575	1,618,575	1,618,575
Unamortized debt discount								$ 24,215	$ 24,215
Short term
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Value of founder shares transferred		$ 8,850,100
Chardan Note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares issued as conversion in principle on convertible notes (in shares)					29,485
Sellers note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Shares issued as conversion in principle on convertible notes (in shares)					31,035			34,931,855

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Line of Credit (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2025
Loss Contingencies [Line Items]
Interest expense on convertible notes	$ 1,896,714	$ 7,276,092
Line of Credit		0
Line of Credit
Loss Contingencies [Line Items]
Aggregate principal amount		$ 10,000,000
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		us-gaap:SecuredOvernightFinancingRateSofrMember
Credit carries an interest rate		1.50%
Debt instrument, Interest rate, Unused portion (as precent)		0.50%
Interest expense on convertible notes		$ 50,833

- 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

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Tau Agreement - ELOC and Second ELOC Agreement (Details)			3 Months Ended	12 Months Ended
	Feb. 05, 2025 USD ($) D shares	Jul. 31, 2024 USD ($) D shares	Sep. 30, 2024 USD ($) shares	Jun. 30, 2025 USD ($) loan shares	Sep. 30, 2025 USD ($)
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Stock subscription receivable \| $				$ 41,089	$ 41,089
Six subordinated loan agreements
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Number of subordinated loan agreement \| loan				6
Subordinated demand notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Extension term of debt instrument				1 year
Pre Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Common Stock that may be issuable				10,000,000
Post Reverse Split
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Common Stock that may be issuable				166,667
ELOC Agreement
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Maximum Aggregate Purchase Price \| $	$ 12,250,000	$ 10,000,000
Agreement Term		24 months
Number of shares of individual advances requested	2,000	100,000
Advances requested, percentage of average daily volume of Common Stock traded	50.00%	50.00%
Threshold trading days \| D	30	30
Shares price payable as percentage of VWAP of the Common Stock	97.00%	97.00%		97.00%
Threshold consecutive trading days \| D	3	3
Common Stock that may be issuable				1,615,168
Shares issued under Tau agreement settled (in shares)			24,092	1,574,263
Pricing period of consecutive trading days				3 days
Reduction in advance amount, percentage				33.00%
Commitment fee, percentage				1.25%
Number of shares transferred by related party				7,378
Shares issued to settle related party advances and promissory notes (in shares)			38,500	1,566,885
Stock subscription receivable \| $			$ 154,619	$ 41,089
Amount of advance notices \| $			441,524	$ 2,093,822
Number of shares settled				35,282
shares sold under the share purchase agreement \| $			303,001	$ 22,888
Shares purchased during the period under the agreement \| $			272,440	1,911,472
Shares purchased under the share purchase agreement \| $			$ 30,562	$ 2,116,710

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Subordinated Loan Agreements (Details)	12 Months Ended
	Jun. 30, 2025 USD ($) loan
Six subordinated loan agreements
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Number of subordinated loan agreement \| loan	6
Aggregate principal amount	$ 650,000
Interest rate (in percent)	5.00%
Subordinated demand notes
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 1,300,000
Interest rate (in percent)	8.00%
Repayments of debt	$ (20,000)
Extension term of debt instrument	1 year

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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+ Details

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Hanire Purchase Agreement (Details)		12 Months Ended
	Dec. 31, 2024 USD ($) D $ / shares shares	Jun. 30, 2025	Oct. 08, 2025 USD ($)	Oct. 01, 2025 $ / shares	Sep. 30, 2025 USD ($)	Sep. 12, 2025 USD ($)	Jul. 01, 2025 $ / shares	Feb. 09, 2024 $ / shares
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Sale price per share (in dollars per share) \| $ / shares								$ 60
Stock split	0.0167
Deposit					$ 200,000
Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Sale price per share (in dollars per share) \| $ / shares				$ 0.162			$ 0.162
Aggregate principal amount			$ 10,097,782
Deposit						$ 100,000
Hanire, LLC
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Common Stock that may be issuable \| shares	333,333
Sale price per share (in dollars per share) \| $ / shares	$ 15
Stock split		0.0167
Maximum aggregate purchase price	$ 5,000,000
Threshold number of shares for purchase by investor as percentage of outstanding voting stock	19.90%
Threshold number of days available to investor to complete the purchase and sale transaction of securities under the securities purchase agreement \| D	15
Hanire, LLC \| Harine Note
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Interest rate (in percent)	12.00%
Conversion rate as a percentage of specified trading days volume weighted average share price	60.00%
Debt instrument, threshold consecutive trading days \| D	20
Hanire, LLC \| Harine Note \| Upon closing of securities purchase transaction
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 5,000,000
Hanire, LLC \| Harine Note \| Upon securing settlement amounts outstanding to principal owners of securities broker
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	12,500,000
Hanire, LLC \| Harine Note \| Upon achievement of positive net income in most recent reporting period
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	7,500,000
Hanire, LLC \| Harine Note \| Upon receival of approvals for acquisition of Commercial Bancorp of Wyoming
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	15,000,000
Hanire, LLC \| Harine Note \| Maximum
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Aggregate principal amount	$ 40,000,000

NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Wilson-Davis (Details) - Wilson Davis Co Inc - USD ($)	Jul. 10, 2025	Dec. 19, 2019	Feb. 27, 2018
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Amount of damages awarded to the plaintiff in the legal matter	$ 490,000	$ 1,265,000	$ 1,470,000
Damage reduced		205,000
Accrued contingent liability		$ 100,000
Subsequent Event
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Amount of damages awarded to the plaintiff in the legal matter	490,000
Accrued contingent liability	$ 100,000

- 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.

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NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES - Software Development and License agreement (Details)	Jun. 10, 2025 USD ($) item
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Agreement term	36 months
Knowledge transfer period	6 months
Amount payable	$ 37,500
Upfront fees payable	20,000
Amount payable for first month	15,000
Remaining monthly payable	$ 10,000
Maximum
NOTES PAYABLE AND COMMITMENTS AND CONTINGENCIES
Hours of knowledge transfer \| item	80

- Definition

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+ Details

ACQUISITION OF WILSON-DAVIS - Allocation of the purchase price (Details)		6 Months Ended
	Feb. 07, 2024 USD ($) item	Jun. 30, 2024 USD ($)	Sep. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)
ACQUISITION OF WILSON-DAVIS
Number of amendments to the Broker-Dealer Acquisition Agreement \| item	2
Cash paid to Wilson-Davis shareholders		$ 8,092,568
Allocated to:
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill		$ 22,019,881	$ 20,503,940	$ 20,859,735
WILSON-DAVIS
ACQUISITION OF WILSON-DAVIS
Cash paid to Wilson-Davis shareholders	$ 8,092,569
Value of shares transferred from sponsor	6,000,000
Total consideration paid	27,063,766
Allocated to:
Cash	11,333,271
Cash segregated	22,000,605
Receivables	4,065,148
Trading Securities, market value	6,875
Prepaid Income Tax	201,125
Accounts payable, accrued expenses and other current liabilities	(28,045,034)
Current portion of lease liability	(161,212)
Property and equipment	23,645
Cash deposit BDs and Clearing Organizations	3,536,664
Operating Lease Right-to-Use Lease Assets	395,063
Other Assets	385,058
Stock loan	(1,431,068)
Long-term Lease liability	(239,629)
Subordinated Borrowing	(1,950,000)
Deferred tax liability	(3,724,270)
Trading Account deposit	(100,000)
Net assets acquired	6,296,241
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	20,767,525
WILSON-DAVIS \| Short term
ACQUISITION OF WILSON-DAVIS
Short-term and long-term notes	5,000,000
WILSON-DAVIS \| Long term
ACQUISITION OF WILSON-DAVIS
Short-term and long-term notes	$ 7,971,197

ACQUISITION OF WILSON-DAVIS - Identified excess of the purchase price over the fair value of the net assets acquired recorded as goodwill (Details) - USD ($)	Feb. 07, 2024	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
ACQUISITION OF WILSON-DAVIS
Excess of purchase price		$ 20,503,940	$ 20,859,735	$ 22,019,881
Goodwill		$ 6,142,525	$ 6,142,525	$ 7,706,725
WILSON-DAVIS
ACQUISITION OF WILSON-DAVIS
Customer Lists	$ 14,625,000
Excess of purchase price	20,767,525
Goodwill	$ 6,142,525
Estimated Useful Life (Years)	12 years

- Definition

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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

ACQUISITION OF WILSON-DAVIS - Pro forma financial information (Details)	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
ACQUISITION OF WILSON-DAVIS
Total revenue \| $	$ 5,247,150
Net loss \| $	$ (23,878,060)
Weighted average shares, Basic \| shares	196,696
Net loss per shares: Basic \| $ / shares	$ (121.4)
Weighted average shares, Diluted \| shares	196,696
Net loss per shares: Diluted \| $ / shares	$ (121.4)

ACQUISITION OF WILSON-DAVIS - Pro forma adjustments (Details)	12 Months Ended
	Jun. 30, 2024 USD ($)
ACQUISITION OF WILSON-DAVIS
Transaction cost	$ (9,008,053)
Loss on AtlasClear acquisition	86,392,769
Interest earned on investments held in trust	$ (256,279)

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC - Purchase price allocation (Details) - USD ($)	3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Fair value of Software Product Earn Out Shares				$ 10,963,000
Fair value of Earn Out Shares				31,347,000
Amortization of intangibles	$ 355,795	$ 307,191	$ 337,911	$ 791,375	$ 1,362,446
ATLASCLEAR, INC
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Total Purchase Price					44,400,000
Fair value of Software Product Earn Out Shares					10,963,000
Fair value of Earn Out Shares					31,347,000
Purchase price allocated to Contribution Agreement					86,710,000
Total Developed Technology acquired					18,163,044
Transaction cost					68,546,956
Amortization of intangibles					(317,231)
Carrying balance of Technology acquired written off					17,845,813
Total loss on AtlasClear technology acquired					86,392,769
ATLASCLEAR, INC \| SURFACExchange
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Total Developed Technology acquired					381,461
ATLASCLEAR, INC \| Bond Quantum
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Total Developed Technology acquired					32,284
ATLASCLEAR, INC \| Atlas
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Total Developed Technology acquired					7,749,299
ATLASCLEAR, INC \| Rubicon
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Total Developed Technology acquired					$ 10,000,000

ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC - Additional information (Details) - USD ($)		12 Months Ended
	Feb. 09, 2024	Jun. 30, 2025	Sep. 30, 2025	Dec. 31, 2024	Aug. 09, 2024	Jun. 30, 2024	Jun. 30, 2023
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares		18 months
Period for measurement of revenue targets (in years)		5 years
Price per public share (in Dollars per share)	$ 60
Atlas FinTech
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Common stock, par value (in dollars per share)					$ 0.0001
Earn Out Shares, maximum shares issuable to stockholders (in shares)		5,944,444
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares		18 months
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders		$ 20,000,000
Period for measurement of revenue targets (in years)		5 years
Total Developed Technology acquired		$ 18,160,000
Estimated Useful Life (Years)		8 years
Purchase price		$ 86,980,000
Transaction cost		$ 68,550,000
ATLASCLEAR, INC
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Shares issued as purchase consideration for the assets (in shares)	74,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Earn Out Shares, maximum shares issuable to stockholders (in shares)	5,944,444	5,944,444
Threshold period from Closing to achieve milestones considered for issuance of Earn Out Shares	18 months
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders		$ 20,000,000
Total Purchase Price		44,400,000
Total Developed Technology acquired		18,163,044
Transaction cost		$ 68,546,956
ATLASCLEAR, INC \| Post-Split Basis
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Shares issued as purchase consideration for the assets (in shares)	74,000	74,000
Price per public share (in Dollars per share)		$ 60
ATLASCLEAR, INC \| Atlas FinTech
ACQUISITION OF THE ASSETS OF ATLASCLEAR, INC
Software Products Earn Out Shares, maximum amount of shares issuable to stockholders	$ 20,000,000
Period for measurement of revenue targets (in years)	5 years

INTANGIBLE ASSETS - Pacsquare Purchase Agreement (Details)	3 Months Ended			6 Months Ended	12 Months Ended
	Sep. 30, 2025 USD ($) $ / shares shares	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2025 USD ($) installment $ / shares shares	Mar. 31, 2025 USD ($)	Dec. 31, 2024 $ / shares	Jun. 29, 2024 shares	Jun. 30, 2023 $ / shares
INTANGIBLE ASSETS
Common stock, shares issued \| shares	126,819,145		207,585	207,585	40,165,603			12,455,157
Common stock, par value (in dollars per share) \| $ / shares	$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Amortization of intangibles	$ 355,795	$ 307,191	$ 337,911	$ 791,375	$ 1,362,446
Pacsquare assets - Proprietary Software
INTANGIBLE ASSETS
Total carrying value	$ 1,736,501
Amortization of intangibles				0	$ 143,696
Useful life (in years)	10 years				10 years
AtlasClear Platform \| Pacsquare
INTANGIBLE ASSETS
Threshold period to receive level 1 equities trading platform from signing of agreement					12 months
Purchase price					$ 4,800,000
Payable in cash and in shares of common stock					1,900,000
Payable in cash upon delivery of source code and execution of purchase agreement					100,000
Total Purchase Price					$ 850,000
Market price of public shares (in Dollars per share) \| $ / shares					$ 6
Four monthly installments payable					$ 950,000
Number of monthly installments \| installment					4
Monthly installments payable					$ 237,500
Payable ratably on module-by-module basis upon delivery and acceptance of each of platform modules					2,700,000
Cash consideration				500,000	125,000
Accrued in accounts payable			$ 85,000	85,000	40,000
Purchase price allocated to Contribution Agreement				$ 1,726,500
Shares issued as purchase consideration for the assets					122,300
Asset acquisition, additional consideration payable					80,000
Accrued payable						$ 165,000
Total carrying value					$ 1,928,800
AtlasClear Platform \| Pacsquare \| Post Reverse Split
INTANGIBLE ASSETS
Common stock, shares issued \| shares			5,600	5,600
Shares issued as purchase consideration for the assets (in shares) \| shares					8,333
AtlasClear Platform \| Pacsquare \| Post-reverse split, Share price at $360
INTANGIBLE ASSETS
Common stock, shares issued \| shares			2,361	2,361
Common stock, par value (in dollars per share) \| $ / shares			$ 360	$ 360
Shares issued as purchase consideration for the assets				$ 850,000
AtlasClear Platform \| Pacsquare \| Post-reverse split, Share price at $90
INTANGIBLE ASSETS
Common stock, shares issued \| shares			3,239	3,239
Common stock, par value (in dollars per share) \| $ / shares			$ 90	$ 90
Shares issued as purchase consideration for the assets				$ 291,500

INTANGIBLE ASSETS - Schedule of Intangible assets (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
Cost
Goodwill	$ 6,142,525	$ 6,142,525	$ 6,142,525
Intangible assets, gross including goodwill	22,696,325	22,696,325	40,657,069
Accumulated Amortization	(2,192,385)	(1,836,590)	(791,375)
Impairment of Asset
Finite lived intangible assets (including goodwill), accumulated impairment loss			(17,845,813)
Net
Goodwill, Total	6,142,525	6,142,525	7,706,725
Excess of purchase price over net liabilities assumed before allocation to identifiable intangible assets and goodwill	$ 20,503,940	$ 20,859,735	$ 22,019,881
Developed technology
INTANGIBLE ASSETS
Est useful life		10 years	10 years
Cost
Finite lived intangible assets, gross		$ 1,928,800	$ 1,726,500
Accumulated Amortization		(143,696)
Net
Intangible assets, net		$ 1,785,104	$ 1,726,500
Technology acquired
INTANGIBLE ASSETS
Est useful life			0 days
Cost
Finite lived intangible assets, gross			$ 18,163,044
Accumulated Amortization			(317,231)
Impairment of Asset
Intangible assets excluding goodwill accumulated impairment loss			$ (17,845,813)
Customer Lists
INTANGIBLE ASSETS
Est useful life	12 years	12 years	12 years
Cost
Finite lived intangible assets, gross	$ 14,625,000	$ 14,625,000	$ 14,625,000
Accumulated Amortization	(2,000,086)	(1,692,894)	(474,144)
Net
Intangible assets, net	$ 12,624,914	$ 12,932,106	$ 14,150,856
Pacsquare assets - Proprietary Software
INTANGIBLE ASSETS
Est useful life	10 years	10 years
Cost
Accumulated Amortization	$ (192,299)
Net
Intangible assets, net	$ 1,736,501

INTANGIBLE ASSETS - Amortization of intangible assets (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025
INTANGIBLE ASSETS
June 30, 2026	$ 1,411,577	$ 1,411,577
June 30, 2027	1,414,916	1,411,577
June 30, 2028	1,414,577	1,414,916
June 30, 2029	$ 1,411,577	1,411,577
June 30, 2030		1,411,577
Thereafter		$ 7,655,985

LEASES - Narrative (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
LEASES - Narrative (Details) - USD ($)	Feb. 29, 2024	Jun. 30, 2024	Jun. 30, 2025	Apr. 30, 2020
LEASES
Term of lease	3 years			63 months
Lease renewal term	3 years
Operating lease, expense		$ 203,227	$ 195,266
Annual rent escalation (in percent)	3.00%

LEASES - Schedule of future minimum payments required by the lease agreements (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
LEASES
2026		$ 118,597
2027		70,377
Total minimum lease payments		188,974
Less interest factor		(6,245)
Operating lease liability - Total		182,729	$ 332,228
Less operating lease liability - current portion	$ (114,271)	(111,983)	(149,499)
Operating lease liability - long term portion	$ 41,346	$ 70,746	$ 182,729

LEASES - Schedule of other information related to the company's operating leases (Details) - USD ($)	5 Months Ended		6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2024	Sep. 30, 2025
LEASES
Operating lease ROU Asset	$ 179,267
Increase	0	$ 0
Decrease	0	(68,727)
Amortization			$ (68,727)
Operating lease ROU Asset - Ending Balance	179,267	326,336	326,336
Increase			(56,900)
Operating lease liability - Short Term	111,983	149,499	149,499	$ 114,271
Operating lease liability - Long Term	70,746	182,729	182,729	$ 41,346
Operating lease liability - Total	$ 182,729	$ 332,228	$ 332,228

LEASES - Schedule of weighted-average remaining lease term and weighted-average discount rates related to the company's operating leases (Details)	Jun. 30, 2025	Jun. 30, 2024
LEASES
Weighted average remaining lease term	1 year 6 months 29 days	2 years 4 months 6 days
Weighted average discount rate	5.00%	4.97%

STOCKHOLDERS' EQUITY (DEFICIT) (Details)		3 Months Ended		12 Months Ended
STOCKHOLDERS' EQUITY (DEFICIT) (Details)	Feb. 09, 2024 shares	Sep. 30, 2025 $ / shares shares	Sep. 30, 2024 USD ($)	Jun. 30, 2025 USD ($) $ / shares shares	Dec. 31, 2024 $ / shares shares	Jun. 30, 2024 $ / shares shares	Jun. 29, 2024 shares	Jun. 30, 2023 $ / shares
STOCKHOLDERS' DEFICIT
Preferred stock, shares authorized		25,000,000		25,000,000	25,000,000	25,000,000
Preferred stock, par value (in dollars per share) \| $ / shares		$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares issued		0		0		0
Preferred stock, shares outstanding		0		0		0
Common stock, shares authorized		500,000,000		500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share) \| $ / shares		$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, voting rights		one		one
Common stock, shares issued		126,819,145		40,165,603		207,585	12,455,157
Common stock, shares outstanding		126,819,145		40,165,603		207,585	12,455,157
Proceeds from stock issuance \| $			$ 148,383	$ 1,870,381
Quantum Fintech Acquisition Corp
STOCKHOLDERS' DEFICIT
Share exchange ratio	1
Quantum Fintech Acquisition Corp \| Warrants issued in exchange for public warrants to purchase Quantum Common Stock
STOCKHOLDERS' DEFICIT
Number of shares called by each warrant	0.5
Quantum Fintech Acquisition Corp \| Warrants issued in exchange for private warrants to purchase Quantum Common Stock
STOCKHOLDERS' DEFICIT
Number of shares called by each warrant	1

WARRANTS (Details)	12 Months Ended
WARRANTS (Details)	Jun. 30, 2025 D $ / shares shares	Jun. 30, 2024 $ / shares shares
WARRANTS
Price of the entity's common stock (in dollars per share)	$ 990
Issue price per share (in dollars per share)	$ 552
Equity proceeds	60.00%
Trading days for determining volume weighted average price \| D	20
Exercise price per share (in dollars per share)	$ 570
Warrant percentage	115.00%
Market value percentage	165.00%
Public Warrants
WARRANTS
Public warrants outstanding (in shares) \| shares	20,125,000	20,125,000
Number of shares called by each warrant \| shares	0.5	0.5
Number of days within which the registration statement should be declared effective	120 days
Expire term	5 years
Redemption price per warrant (in dollars per share)	$ 0.6
Notice period redemption	30 days
Price of the entity's common stock (in dollars per share)	$ 990
Threshold number of specified trading days \| D	20
Threshold consecutive number of specified trading days \| D	30
Public Warrants \| Post Reverse Split
WARRANTS
Exercise price of warrants	$ 690	$ 690
Private Warrants
WARRANTS
Public warrants outstanding (in shares) \| shares	6,153,125	6,153,125
Number of shares called by each warrant \| shares	1
Private Warrants \| Post Reverse Split
WARRANTS
Exercise price of warrants	$ 690

INCOME TAX - Benefit (provision) for income taxes (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025
Current Tax:
State					$ 3,170		$ 1,556
Total current					3,170		1,556
Deferred Tax:
Federal					(546,276)		(209,219)
State					(26,630)		(51,718)
Total deferred					(572,906)		(260,937)
Income tax benefit	$ (153,035)	$ 21,752	$ (563,736)	$ 318,313	$ (569,736)	$ 581,118	$ (259,381)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

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+ Details

INCOME TAX - Reconciliation (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
INCOME TAX - Reconciliation (Details) - USD ($)	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025
Effective Income Tax Reconciliation, Amount
Tax at Statutory rate (21%)					$ (25,376,496)		$ 1,153,091
Change in fair value of NRA liability					34,571
Change in fair value of warrant liability							(38,765)
Meals					1,769		2,836
Entertainment					161		34
Chane in fair value of convertible note							(837,981)
Nondeductible transaction costs					1,891,691
Change in fair value of Long-Term and Short-Term Investor Notes					2,353,692		(2,597,515)
Change in fair value of Secured Convertible Note		$ 89,535			753,039
Change in fair value of Earnout Liability					280,350		(195,090)
Change in fair value of Subscription Agreement					8,147		13,503
Change in fair value of Stock Payable					(206,865)		(48,887)
Change in fair value of Tau Agreement							85,597
Change in fair value of Tau commitment fee							(10,536)
Change in fair value of WDCO sellers convertible note							(10,363)
Loss on AtlasClear acquisition					18,142,481
Stock Compensation Expense					307,157
Extinguishment of Accrued Liabilities					(184,689)
Change in fair value of WDCO Share payable					683,941		176,353
Change in statutory rate							13,123
Return To Provision					(477,461)		(1,477,734)
State Tax - Net of Federal Benefit					(220,234)		(400,312)
State Minimum Tax - Net of Federal Benefit					2,504		1,229
Chang in Valuation Allowance - State					499,331		441,782
Chang in Valuation Allowance - Federal					937,175		1,752,730
Net adjustments - Federal							181,158
-Goodwill intangible DTA recognized as part of acquisition							1,536,366
Income tax benefit	$ (153,035)	$ 21,752	$ (563,736)	$ 318,313	$ (569,736)	$ 581,118	$ (259,381)
Effective Income Tax Reconciliation, Rate
Statutory tax rate					21.00%		21.00%
Change in fair value of NRA liability					(0.03%)
Change in fair value of warrant liability							(0.71%)
Meals					0.00%		0.05%
Entertainment					0.00%		0.00%
Chane in fair value of convertible note							(15.26%)
Nondeductible transaction costs					(1.57%)
Change in fair value of Long-Term and Short-Term Investor Notes					(1.95%)		(47.31%)
Change in fair value of Secured Convertible Note					(0.62%)
Change in fair value of Earnout Liability					(0.23%)		(3.55%)
Change in fair value of Subscription Agreement					(0.01%)		0.25%
Change in fair value of Stock Payable					0.17%		(0.89%)
Change in fair value of Tau Agreement							1.56%
Change in fair value of Tau commitment fee							(0.19%)
Change in fair value of WDCO sellers convertible note							(0.19%)
Loss on AtlasClear acquisition					(15.01%)
Business combination expenses					(0.25%)
Extinguishment of Accrued Liabilities					0.15%
Change in fair value of WDCO Share payable					(0.57%)		3.21%
Change in statutory rate							0.24%
Return To Provision					0.40%		(26.91%)
State Tax - Net of Federal Benefit					0.18%		(7.29%)
State Minimum Tax - Net of Federal Benefit					0.00%		0.02%
Chang in Valuation Allowance - State					(0.41%)		8.05%
Chang in Valuation Allowance - Federal					(0.78%)		31.92%
Net adjustments - Federal							3.30%
-Goodwill intangible DTA recognized as part of acquisition							27.98%
Income tax benefit					0.47%		(4.72%)

INCOME TAX - Deferred tax assets and liabilities (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Deferred Tax Assets:
Fixed Assets	$ 3,881	$ 261
Business Combination Expenses	533,602	530,560
IRC Sec. 195 Start-Up Costs	896,917	956,768
Allowance for Bad Debt	102,733	3,820
Accrued Contingent Liability	25,611	25,465
Lease Liability (ASC 842)	46,799	84,602
IRC Sec. 1231 Losses	1,775	1,774
Net Operating Loss	3,612,862	1,361,541
Total Deferred Tax Asset	5,224,180	2,964,791
Deferred Tax Liabilities:
Intangible Assets	3,312,054	5,167,729
ROU Lease Asset (ASC 842)	45,912	83,102
State Tax - Current	526	526
State Tax - Deferred	89,732	110,452
Total Deferred Tax Liability	3,448,224	5,361,809
Net Deferred Tax Asset/(Liability) before Valuation allowance	1,775,956	(2,397,018)
Valuation Allowance	(5,043,381)	(2,848,868)
Net Deferred Tax Asset/(Liability)	$ (3,267,425)	$ (5,245,886)

INCOME TAX - Additional information (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
INCOME TAX
Valuation Allowance	$ 5,043,381	$ 2,848,868
Federal
INCOME TAX
Net operating loss carryovers	13,950,000
State
INCOME TAX
Net operating loss carryovers	$ 14,820,000

FAIR VALUE MEASUREMENTS - Schedule of Company's assets and liabilities that are measured at fair value on a recurring basis (Details) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
FAIR VALUE MEASUREMENTS
Trading securities	$ 1,435	$ 5	$ 55
Level 1
FAIR VALUE MEASUREMENTS
Trading securities		5
Level 3
FAIR VALUE MEASUREMENTS
Subscription agreement	691,321	2,489,945	2,425,647
Contingent Guarantee			3,256,863
Warrant liability - Private Warrants	184,594	123,062	307,656
Earnout liability	$ 11,485,000	11,369,000	12,298,000
Convertible notes derivative		$ 103,185	$ 16,462,690
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Embedded Derivative, Fair Value of Embedded Derivative Liability, Current, Embedded Derivative, Fair Value of Embedded Derivative Liability, Noncurrent	Embedded Derivative, Fair Value of Embedded Derivative Liability, Current, Embedded Derivative, Fair Value of Embedded Derivative Liability, Noncurrent
Merger financing derivative		$ 63,696
Tau agreement		$ 539,787

FAIR VALUE MEASUREMENTS - Schedule of key inputs into the Monte Carlo model for the Subscription Agreement (Details)	Jun. 30, 2025 $ / shares	Jun. 30, 2024 $ / shares
Market price of public shares
FAIR VALUE MEASUREMENTS
Subscription agreement	0.19	62.4
Equity volatility
FAIR VALUE MEASUREMENTS
Subscription agreement	1.677	0.262
Risk-free rate
FAIR VALUE MEASUREMENTS
Subscription agreement	0.0421	0.0505

FAIR VALUE MEASUREMENTS - Contingent Guarantee (Details) - USD ($)			1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
	Feb. 09, 2024	Feb. 07, 2024	Jul. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2025	Jun. 30, 2023
FAIR VALUE MEASUREMENTS
Value of founder shares transferred to cover cash deficit	$ 6,000,000	$ 4,000,000
Contingent guarantee	3,256,863				$ 3,256,863	$ 3,256,863			$ 3,256,863
Value of founder shares transferred	$ 4,000,000						$ 1,210,290
Value of shares issued as payment towards contingent guarantee			$ 1,210,290
Repayment obligation of contingent guarantee							2,886,347
Change in fair value, contingent guarantee				$ 839,775	$ 3,256,863	$ 3,256,863	$ 839,775	$ 839,775

FAIR VALUE MEASUREMENTS - Schedule of Key Inputs into the Black-Scholes model for the Private Warrants (Details)	Sep. 30, 2025 $ / shares	Jun. 30, 2025 $ / shares	Jun. 30, 2024 $ / shares
Market price of public shares
FAIR VALUE MEASUREMENTS
Private warrants	0.51	0.19	62.4
Risk-free rate
FAIR VALUE MEASUREMENTS
Private warrants	0.0359	0.0367	0.0427
Dividend yield
FAIR VALUE MEASUREMENTS
Private warrants	0	0	0
Volatility
FAIR VALUE MEASUREMENTS
Private warrants	1.494	1.677	0.587
Exercise price
FAIR VALUE MEASUREMENTS
Private warrants	689.86	689.86	689.86

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

FAIR VALUE MEASUREMENTS - Schedule of key inputs into the Monte Carlo model for the Earnout liability (Details)	Sep. 30, 2025 $ / shares	Jun. 30, 2025 $ / shares	Jun. 30, 2024 $ / shares
Market price of public shares
FAIR VALUE MEASUREMENTS
Earnout liability	0.51	0.19	62.4
Revenue volatility
FAIR VALUE MEASUREMENTS
Earnout liability	0.12	0.12	0.15
Discount factor for revenue
FAIR VALUE MEASUREMENTS
Earnout liability	0.0995	0.0931	0.0969

FAIR VALUE MEASUREMENTS - Schedule of key inputs into the Black-Scholes model for the Conversion derivative (Details)	Sep. 30, 2025 $ / shares	Jun. 30, 2025 $ / shares	Jun. 30, 2025	Aug. 09, 2024 $ / shares	Jun. 30, 2024 $ / shares
Short Term Notes \| Market price of public shares
FAIR VALUE MEASUREMENTS
Convertible derivative					62.4
Short Term Notes \| Risk-free rate
FAIR VALUE MEASUREMENTS
Convertible derivative					0.0549
Short Term Notes \| Dividend yield
FAIR VALUE MEASUREMENTS
Convertible derivative					0
Short Term Notes \| Volatility
FAIR VALUE MEASUREMENTS
Convertible derivative					146.43
Short Term Notes \| Exercise price
FAIR VALUE MEASUREMENTS
Convertible derivative					0.99
Long-Term Notes \| Market price of public shares
FAIR VALUE MEASUREMENTS
Convertible derivative		0.19			62.4
Long-Term Notes \| Risk-free rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.0413		0.049
Long-Term Notes \| Discount rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.1563
Long-Term Notes \| Probability of default
FAIR VALUE MEASUREMENTS
Convertible derivative			0.143
Long-Term Notes \| Recovery rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.289
Long-Term Notes \| Dividend yield
FAIR VALUE MEASUREMENTS
Convertible derivative					0
Long-Term Notes \| Volatility
FAIR VALUE MEASUREMENTS
Convertible derivative		167.7	1.677		144.61
Long-Term Notes \| Exercise price
FAIR VALUE MEASUREMENTS
Convertible derivative					0.99
Chardan Note \| Market price of public shares
FAIR VALUE MEASUREMENTS
Convertible derivative		0.19			62.4
Chardan Note \| Risk-free rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.0432		0.0452
Chardan Note \| Discount rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.1243
Chardan Note \| Probability of default
FAIR VALUE MEASUREMENTS
Convertible derivative			0.059
Chardan Note \| Recovery rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.476
Chardan Note \| Dividend yield
FAIR VALUE MEASUREMENTS
Convertible derivative					0
Chardan Note \| Volatility
FAIR VALUE MEASUREMENTS
Convertible derivative					1,666.81
Chardan Note \| Exercise price
FAIR VALUE MEASUREMENTS
Convertible derivative					0.84
Secured Convertible Note \| Market price of public shares
FAIR VALUE MEASUREMENTS
Convertible derivative	0.19	0.19
Secured Convertible Note \| Risk-free rate
FAIR VALUE MEASUREMENTS
Convertible derivative	0.0363		0.0363
Secured Convertible Note \| Discount rate
FAIR VALUE MEASUREMENTS
Convertible derivative	0.1202		0.1202
Secured Convertible Note \| Probability of default
FAIR VALUE MEASUREMENTS
Convertible derivative	0.44		0.44
Secured Convertible Note \| Recovery rate
FAIR VALUE MEASUREMENTS
Convertible derivative	0.476		0.476
Secured Convertible Note \| Volatility
FAIR VALUE MEASUREMENTS
Convertible derivative	1.677		1.677
Merger Financing \| Market price of public shares
FAIR VALUE MEASUREMENTS
Convertible derivative		0.19		16.2
Merger Financing \| Risk-free rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.0413	0.0478
Merger Financing \| Discount rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.1563	0.1698
Merger Financing \| Probability of default
FAIR VALUE MEASUREMENTS
Convertible derivative			0.143	0.254
Merger Financing \| Recovery rate
FAIR VALUE MEASUREMENTS
Convertible derivative			0.289	0.289
Merger Financing \| Volatility
FAIR VALUE MEASUREMENTS
Convertible derivative			1.677	0.372

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($)				3 Months Ended		12 Months Ended
	Jun. 29, 2024	Feb. 09, 2024	Feb. 07, 2024	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2025	Oct. 23, 2024	Aug. 09, 2024	Jun. 30, 2024
Short-Term Debt [Line Items]
Derivative liability - convertible notes									$ 16,462,690
Penalty interest rate	9.00%								13.00%
Marketing fees payable to underwriters		$ 7,043,750
Conversion derivative
Short-Term Debt [Line Items]
Increase in fair value of derivative liability				$ (103,185)	$ (14,320,179)	$ (16,359,505)
Short Term Notes
Short-Term Debt [Line Items]
Fair value of embedded derivative						0			$ 4,807,692
Aggregate principal amount			$ 5,000,000
Maturity due			90 days
Interest rate (in percent)			9.00%
Interest payable in shares, as a percentage of trailing specified trading day VWAP (in percent)			90.00%
Short Term Notes \| Conversion derivative
Short-Term Debt [Line Items]
Increase in fair value of derivative liability	$ 4,320,363
Unamortized discount						487,929
Increased fair value									4,807,692
Short Term Notes \| Wilson-Davis Sellers
Short-Term Debt [Line Items]
Maturity due		90 days
Derivative liability		$ 487,329
Long-Term Notes
Short-Term Debt [Line Items]
Fair value of embedded derivative						103,185			7,664,613
Aggregate principal amount			$ 7,971,000
Maturity due			24 months
Interest rate (in percent)			13.00%
Long-Term Notes \| Conversion derivative
Short-Term Debt [Line Items]
Increase in fair value of derivative liability	6,887,694
Unamortized discount						776,919
Derivative liability		776,919
Increased fair value									7,664,613
Chardan Note
Short-Term Debt [Line Items]
Fair value of embedded derivative						$ 0			3,990,385
Aggregate principal amount		4,150,000					$ 5,209,764
Number of years up to which the converted amount is to be held for payment of interest						3 years
Chardan Note \| Conversion derivative
Short-Term Debt [Line Items]
Increase in fair value of derivative liability	$ 3,585,901
Unamortized discount									404,483
Derivative liability		$ 404,483
Increased fair value									3,990,385
Chardan Note \| Chardan Capital Market LLC
Short-Term Debt [Line Items]
Aggregate principal amount						$ 4,150,000
Marketing fees payable to underwriters						$ 7,043,750
Interest rate (in percent)						13.00%
Interest payable in shares, as a percentage of trailing specified trading day VWAP (in percent)						85.00%
Convertible notes
Short-Term Debt [Line Items]
Derivative liability - convertible notes									$ 16,462,690
Aggregate principal amount						$ 103,185
Secured Convertible Note
Short-Term Debt [Line Items]
Fair value of embedded derivative						0
Merger Financing
Short-Term Debt [Line Items]
Fair value of embedded derivative						$ 63,696		$ 113,044

FAIR VALUE MEASUREMENTS - Tau Agreement (Details) - Tau Agreement	Sep. 30, 2025 USD ($)	Jun. 30, 2025 USD ($) $ / shares	Sep. 30, 2024 USD ($)	Jul. 31, 2024 USD ($) $ / shares
FAIR VALUE MEASUREMENTS
Initial fair value, commitment amount			$ 391,017
Subsequent fair value of commitment amount			966,153
Initial fair value commitment fee			50,506
Subsequent fair value of commitment fee			$ 124,796
Tau Investment Partners LLC
FAIR VALUE MEASUREMENTS
Initial fair value, commitment amount	$ 0	$ 539,448
Subsequent fair value of commitment amount				$ 966,153
Initial fair value commitment fee		$ 337
Subsequent fair value of commitment fee				$ 124,796
Tau Investment Partners LLC \| Anticipated Monthly Advance Amounts
FAIR VALUE MEASUREMENTS
Commitment amount		40,000		40,000
Tau Investment Partners LLC \| Market price of public shares
FAIR VALUE MEASUREMENTS
Commitment fee \| $ / shares		0.19		16.2
Tau Investment Partners LLC \| Risk-free rate
FAIR VALUE MEASUREMENTS
Commitment amount		0.0375		0.042
Commitment fee		0.0375		0.042
Tau Investment Partners LLC \| Volatility
FAIR VALUE MEASUREMENTS
Commitment amount		1.677		0.403
Commitment fee		1.677		0.403

FAIR VALUE MEASUREMENTS - Schedule of changes in the fair value (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2025
Shares issuable pursuant to Subscription agreement
Fair value asset
Fair value	$ 2,489,945	$ 2,425,647	$ 2,425,647
Change in valuation inputs or other assumptions			64,298
Fair value			2,489,945
Private Placement Warrants
Fair value liability
Fair value	123,062	307,656	307,656
Change in valuation inputs or other assumptions	61,531	(246,125)	(184,594)
Fair value	184,593	61,531	123,062
Tau Agreement Liability
Fair value liability
Fair value	539,787
Initial measurement		1,090,949	1,090,949
Fair value of advance requests			1,652,300
Transferred to equity		(303,000)	(1,911,472)
Change in valuation inputs or other assumptions	(334,549)	184,559	(291,990)
Fair value		972,508	539,787
Conversion Derivative
Fair value liability
Fair value	103,185	16,462,690	16,462,690
Change in valuation inputs or other assumptions	(103,185)	(14,320,179)	(16,359,505)
Fair value		2,142,511	103,185
Earnout Liability
Fair value liability
Fair value	11,369,000	12,298,000	12,298,000
Change in valuation inputs or other assumptions	116,000	340,000	(929,000)
Fair value	11,485,000	12,638,000	11,369,000
Contingent Guarantee
Fair value liability
Fair value		3,256,863	3,256,863
Shares issued as partial payment		1,210,290	(1,210,290)
Change in valuation inputs or other assumptions		839,774	839,774
Exchanged to Merger financing note		2,886,347	(2,886,347)
Merger Financing Derivative
Fair value liability
Fair value	63,696
Initial measurement		113,044	113,044
Shares issued as partial payment	(63,696)
Change in valuation inputs or other assumptions		63,195	(49,348)
Fair value		176,239	63,696
Secured Convertible Derivative
Fair value liability
Fair value
Initial measurement			89,535
Change in valuation inputs or other assumptions		89,535	(89,535)
Fair value		$ 89,535

FAIR VALUE MEASUREMENTS - Fair value Assets and Liabilities Transfer Amount (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2025
FAIR VALUE MEASUREMENTS
Asset transfers from level 1 to level 2	$ 0	$ 0	$ 0	$ 0
Asset transfers from level 2 to level 1	0	0	0	0
Liability transfers from level 1 to level 2	0	0	0	0
Liability transfers from level 2 to level 1	0	0	0	0
Asset transfers into or out of level 3	0	0	0	0
Liability transfers into or out of level 3	$ 0	$ 0	$ 0	$ 0

SEGMENT REPORTING (Details) - segment	3 Months Ended	12 Months Ended
SEGMENT REPORTING (Details) - segment	Sep. 30, 2025	Jun. 30, 2025
SEGMENT REPORTING
Number of reportable segment	1	1
Number of operating segment		1

SEGMENT REPORTING - Revenue and operating income (loss) (Details) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025
SEGMENT REPORTING
Commissions	$ 2,334,389	$ 1,383,828	$ 1,750,159		$ 2,679,673		$ 5,937,532
Vetting fees	371,700	365,383	340,050		499,125		1,459,321
Clearing fees	714,349	1,047,712	624,550		756,393		3,165,714
Net gain/(loss) on firm trading accounts	(111)	1,711	6,390		10,046		6,580
Other revenue	830,263	5,448	9,650		56,246		287,465
TOTAL REVENUES	4,250,590	2,804,082	2,730,799		4,001,483		10,856,612
Loss from operations	(877,238)	(941,102)	(398,919)	$ (577,313)	(14,268,826)	$ (1,485,122)	(4,917,281)
Total assets	73,634,759		57,466,554	$ 58,621,911	57,466,554	$ 58,621,911	60,892,833
Single reportable segment
SEGMENT REPORTING
Commissions	2,334,389	1,383,828			2,679,673		5,937,532
Vetting fees	371,700	365,383			499,125		1,459,321
Clearing fees	714,349	1,047,712			756,393		3,165,714
Net gain/(loss) on firm trading accounts	(111)	1,711			10,046		6,580
Other revenue	830,263	5,448			56,246		287,465
TOTAL REVENUES	4,250,590	2,804,082			4,001,483		10,856,612
Loss from operations	(877,238)	(941,102)			(14,268,826)		(4,917,281)
Total assets	$ 73,634,759	$ 55,994,817	$ 57,466,554		$ 57,466,554		$ 60,892,833

SUBSEQUENT EVENTS (Details)							3 Months Ended	6 Months Ended
SUBSEQUENT EVENTS (Details)	Oct. 08, 2025 USD ($)	Sep. 24, 2025 USD ($) item D $ / shares	Sep. 23, 2025 USD ($)	Sep. 19, 2025 USD ($) D item $ / shares shares	Sep. 16, 2025 USD ($)	Aug. 04, 2025 USD ($) $ / shares	Sep. 30, 2025 USD ($)	Jun. 30, 2024 USD ($)	Sep. 12, 2025 USD ($)
SUBSEQUENT EVENTS
Gross purchase price							$ 4,700,000	$ 6,000,000
Deposit							200,000
Annual base salary, year one				$ 400,000
Annual base salary, year two				450,000
Annual base salary, year three				500,000
Cash signing bonus				$ 300,000
John Schaible and Craig Ridenhour
SUBSEQUENT EVENTS
Term of employment				3 years
Renewal term				1 year
Threshold period of written notice of non renewal				60 days
Minimum qualified cumulative financing				$ 5,000,000
Number of stock awards \| item				5
Threshold percentage of outstanding shares for determining stock award				1.00%
Vesting period				3 years
Threshold trading days over which volume weighted average stock price considered calculating stock trading price \| D				10
John Schaible and Craig Ridenhour \| Payable immediately
SUBSEQUENT EVENTS
Percentage of bonus payable				0.0033%
John Schaible and Craig Ridenhour \| Payable at the end of fourth quarter 2025
SUBSEQUENT EVENTS
Percentage of bonus payable				0.0033%
John Schaible and Craig Ridenhour \| Payable at the end of the first quarter 2026
SUBSEQUENT EVENTS
Percentage of bonus payable				0.0033%
John Schaible and Craig Ridenhour \| Granted on signing
SUBSEQUENT EVENTS
Stock grants \| shares				700,000
John Schaible and Craig Ridenhour \| Granted on July 1, 2026
SUBSEQUENT EVENTS
Stock grants \| shares				286,842
John Schaible and Craig Ridenhour \| Stock price milestone one
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				$ 0.75
John Schaible and Craig Ridenhour \| Stock price milestone two
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1
John Schaible and Craig Ridenhour \| Stock price milestone three
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1.24
John Schaible and Craig Ridenhour \| Stock price milestone four
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1.49
John Schaible and Craig Ridenhour \| Stock price milestone five
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				$ 1.74
Sandip Patel
SUBSEQUENT EVENTS
Term of employment		3 years
Renewal term		1 year
Threshold period of written notice of non renewal		60 days
Annual base salary, year one		$ 350,000
Annual base salary, year two		400,000
Annual base salary, year three		450,000
Cash signing bonus		250,000
Minimum qualified cumulative financing		$ 5,000,000
Number of stock awards \| item		5
Threshold percentage of outstanding shares for determining stock award		0.50%
Vesting period		3 years
Threshold trading days over which volume weighted average stock price considered calculating stock trading price \| D		10
Sandip Patel \| Payable immediately
SUBSEQUENT EVENTS
Percentage of bonus payable		0.0033%
Sandip Patel \| Payable at the end of fourth quarter 2025
SUBSEQUENT EVENTS
Percentage of bonus payable		0.0033%
Sandip Patel \| Payable at the end of the first quarter 2026
SUBSEQUENT EVENTS
Percentage of bonus payable		0.0033%
Sandip Patel \| Stock price milestone one
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		$ 0.75
Sandip Patel \| Stock price milestone two
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1
Sandip Patel \| Stock price milestone three
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1.24
Sandip Patel \| Stock price milestone four
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1.49
Sandip Patel \| Stock price milestone five
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		$ 1.74
Series A convertible debentures
SUBSEQUENT EVENTS
Aggregate principal amount						$ 500,000	362,067
Gross purchase price						$ 490,000
Interest rate (in percent)						10.00%
Conversion price (in dollars per share) \| $ / shares						$ 0.15
Percentage of proceeds raised in excess of threshold amount						100.00%
Threshold amount						$ 10,000,000
Threshold period to file registration statement						60 days
Convertible promissory notes
SUBSEQUENT EVENTS
Aggregate principal amount			$ 6,000,000				6,000,000
Purchase price of notes			$ 5,000,000
Debt discount percentage			20.00%
Qualified Financing, threshold gross proceeds					$ 10,000,000		$ 10,000,000
Subsequent Event
SUBSEQUENT EVENTS
Aggregate principal amount	$ 10,097,782
Deposit									$ 100,000
Annual base salary, year one		$ 400,000
Annual base salary, year two		450,000
Annual base salary, year three		500,000
Cash signing bonus		$ 300,000
Subsequent Event \| John Schaible and Craig Ridenhour
SUBSEQUENT EVENTS
Term of employment				3 years
Renewal term				1 year
Threshold period of written notice of non renewal				60 days
Annual base salary, year one				$ 400,000
Annual base salary, year two				450,000
Annual base salary, year three				500,000
Cash signing bonus				300,000
Minimum qualified cumulative financing				$ 5,000,000
Number of stock awards \| item				5
Threshold percentage of outstanding shares for determining stock award				1.00%
Vesting period				3 years
Threshold trading days over which volume weighted average stock price considered calculating stock trading price \| D				10
Subsequent Event \| John Schaible and Craig Ridenhour \| Payable immediately
SUBSEQUENT EVENTS
Percentage of bonus payable				0.33%
Subsequent Event \| John Schaible and Craig Ridenhour \| Payable at the end of fourth quarter 2025
SUBSEQUENT EVENTS
Percentage of bonus payable				0.33%
Subsequent Event \| John Schaible and Craig Ridenhour \| Payable at the end of the first quarter 2026
SUBSEQUENT EVENTS
Percentage of bonus payable				0.33%
Subsequent Event \| John Schaible and Craig Ridenhour \| Granted on signing
SUBSEQUENT EVENTS
Stock grants \| shares				700,000
Subsequent Event \| John Schaible and Craig Ridenhour \| Granted on July 1, 2026
SUBSEQUENT EVENTS
Stock grants \| shares				286,842
Subsequent Event \| John Schaible and Craig Ridenhour \| Stock price milestone one
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				$ 0.75
Subsequent Event \| John Schaible and Craig Ridenhour \| Stock price milestone two
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1
Subsequent Event \| John Schaible and Craig Ridenhour \| Stock price milestone three
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1.24
Subsequent Event \| John Schaible and Craig Ridenhour \| Stock price milestone four
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				1.49
Subsequent Event \| John Schaible and Craig Ridenhour \| Stock price milestone five
SUBSEQUENT EVENTS
Weighted average price \| $ / shares				$ 1.74
Subsequent Event \| Sandip Patel
SUBSEQUENT EVENTS
Term of employment		3 years
Renewal term		1 year
Threshold period of written notice of non renewal		60 days
Annual base salary, year one		$ 350,000
Annual base salary, year two		400,000
Annual base salary, year three		450,000
Cash signing bonus		250,000
Minimum qualified cumulative financing		$ 5,000,000
Number of stock awards \| item		5
Threshold percentage of outstanding shares for determining stock award		0.50%
Vesting period		3 years
Threshold trading days over which volume weighted average stock price considered calculating stock trading price \| D		10
Subsequent Event \| Sandip Patel \| Payable immediately
SUBSEQUENT EVENTS
Percentage of bonus payable		0.33%
Subsequent Event \| Sandip Patel \| Payable at the end of fourth quarter 2025
SUBSEQUENT EVENTS
Percentage of bonus payable		0.33%
Subsequent Event \| Sandip Patel \| Payable at the end of the first quarter 2026
SUBSEQUENT EVENTS
Percentage of bonus payable		0.33%
Subsequent Event \| Sandip Patel \| Stock price milestone one
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		$ 0.75
Subsequent Event \| Sandip Patel \| Stock price milestone two
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1
Subsequent Event \| Sandip Patel \| Stock price milestone three
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1.24
Subsequent Event \| Sandip Patel \| Stock price milestone four
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		1.49
Subsequent Event \| Sandip Patel \| Stock price milestone five
SUBSEQUENT EVENTS
Weighted average price \| $ / shares		$ 1.74
Subsequent Event \| Series A convertible debentures
SUBSEQUENT EVENTS
Aggregate principal amount						$ 500,000
Gross purchase price						$ 490,000
Interest rate (in percent)						10.00%
Conversion price (in dollars per share) \| $ / shares						$ 0.15
Percentage of proceeds raised in excess of threshold amount						100.00%
Threshold amount						$ 10,000,000
Threshold period to file registration statement						60 days
Subsequent Event \| Convertible promissory notes
SUBSEQUENT EVENTS
Aggregate principal amount			$ 6,000,000	$ 6,000,000	6,000,000
Interest rate (in percent)	11.00%
Purchase price of notes	$ 10,000,000		$ 5,000,000	$ 5,000,000	$ 5,000,000
Debt discount percentage			20.00%	20.00%	20.00%
Qualified Financing, threshold gross proceeds					$ 10,000,000

SUBSEQUENT EVENTS - Issuances of Common Stock (Details)							1 Months Ended	3 Months Ended			12 Months Ended
SUBSEQUENT EVENTS - Issuances of Common Stock (Details)	Oct. 13, 2025 USD ($) shares	Oct. 01, 2025 USD ($) $ / shares shares	Sep. 16, 2025 USD ($) $ / shares shares	Aug. 11, 2025 USD ($) shares	Jul. 17, 2025 USD ($) $ / shares shares	Jul. 01, 2025 USD ($) $ / shares shares	Jul. 31, 2024 USD ($)	Sep. 30, 2025 USD ($) D $ / shares shares	Sep. 19, 2025 USD ($) D $ / shares shares	Sep. 30, 2024 USD ($)	Jun. 30, 2025 USD ($)	Sep. 15, 2025 $ / shares	Feb. 09, 2024 $ / shares
SUBSEQUENT EVENTS
Common stock issued to for consulting services (in shares) \| shares				200,000
Sale price per share (in dollars per share) \| $ / shares													$ 60
Common stock issued to for consulting services				$ 40,000						$ 2,578	$ 44,341
Funicular Note
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares								63,944,332
Principal amount								$ 9,324,489
Interest amount								$ 267,161
Conversion price (in dollars per share) \| $ / shares								$ 0.15
Chardan Note
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares								4,845,072
Principal amount							$ 400,000	$ 959,764
Interest amount										$ 212,803	$ 212,803
Conversion rate as a percentage of specified trading days volume weighted average share price								90.00%
Threshold trading days \| D								7
Chardan Note \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares								$ 0.16
Chardan Note \| Maximum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares								$ 0.18
Jones Trading Note
SUBSEQUENT EVENTS
Sale price per share (in dollars per share) \| $ / shares													$ 120
Common Stock issued during period (in shares) \| shares			585,229
Principal amount			$ 375,000
Interest amount			$ 63,922
Conversion price (in dollars per share) \| $ / shares			$ 0.75									$ 2
Jones Trading Note \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares			$ 0.75
Sandip I. Patel, P.A.
SUBSEQUENT EVENTS
Common stock issued to for consulting services (in shares) \| shares					800,000
Sale price per share (in dollars per share) \| $ / shares					$ 0.21
Common stock issued to for consulting services					$ 169,920
Wilson-Davis Sellers
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares								15,922,008
Principal amount								$ 2,565,931
Interest amount								$ 113,791
Conversion rate as a percentage of specified trading days volume weighted average share price								90.00%
Threshold trading days \| D								7
Wilson-Davis Sellers \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares								$ 0.16
Wilson-Davis Sellers \| Maximum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares								$ 0.18
Subsequent Event
SUBSEQUENT EVENTS
Common stock issued to for consulting services (in shares) \| shares	325,000	356,901		200,000		356,901
Sale price per share (in dollars per share) \| $ / shares		$ 0.162				$ 0.162
Common stock issued to for consulting services	$ 132,372			$ 40,000
Interest amount		$ 57,821				$ 57,821
Subsequent Event \| Funicular Note
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares									63,944,332
Principal amount									$ 9,324,489
Interest amount									$ 267,161
Conversion price (in dollars per share) \| $ / shares									$ 0.15
Subsequent Event \| Chardan Note
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares									4,845,072
Principal amount									$ 959,764
Conversion rate as a percentage of specified trading days volume weighted average share price									90.00%
Threshold trading days \| D									7
Subsequent Event \| Chardan Note \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares									$ 0.16
Subsequent Event \| Chardan Note \| Maximum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares									$ 0.18
Subsequent Event \| Jones Trading Note
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares			585,229
Principal amount			$ 375,000
Interest amount			$ 63,922
Conversion price (in dollars per share) \| $ / shares			$ 0.75
Subsequent Event \| Jones Trading Note \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares			$ 0.75									$ 2
Subsequent Event \| Sandip I. Patel, P.A.
SUBSEQUENT EVENTS
Common stock issued to for consulting services (in shares) \| shares					800,000
Sale price per share (in dollars per share) \| $ / shares					$ 0.21
Common stock issued to for consulting services					$ 169,920
Subsequent Event \| Wilson-Davis Sellers
SUBSEQUENT EVENTS
Common Stock issued during period (in shares) \| shares									15,922,008
Principal amount									$ 2,565,931
Interest amount									$ 113,791
Conversion rate as a percentage of specified trading days volume weighted average share price									90.00%
Threshold trading days \| D									7
Subsequent Event \| Wilson-Davis Sellers \| Minimum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares									$ 0.16
Subsequent Event \| Wilson-Davis Sellers \| Maximum
SUBSEQUENT EVENTS
Conversion price (in dollars per share) \| $ / shares									$ 0.18

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Jun. 30, 2024
ASSETS
Cash and cash equivalents	$ 2,692,063	$ 7,533,690	$ 6,558,176
Cash segregated - customers	29,291,802	21,874,954	20,548,972
Cash segregated - PAB	200,563	200,575	200,738
Receivables - broker-dealers and clearing organizations	13,649,538	4,179,625	1,333,306
Receivables - customers, net, net of allowance for credit losses of $401,128 and $401,128 as of September 30, 2025 and June 30, 2025, respectively	980,988	320,815	823,784
Other receivables	47,155	251,099	64,842
Prepaids	342,649	573,175	67,967
Trading securities, market value, net	1,435	5	55
Total Current Assets	47,206,193	34,933,938	29,597,840
Operating lease right to use lease asset	152,146	179,267	326,336
Customer list, net	12,624,914	12,932,106	14,150,856
Goodwill	6,142,525	6,142,525	7,706,725
Pacsquare asset purchase	1,736,501	1,785,104	1,726,500
Cash deposits - broker-dealers and clearing organizations	5,015,000	4,265,000	3,515,000
Bank acquisition deposit	128,645	63,645	91,200
Other assets	628,835	591,248	336,017
Property and equipment, net			16,080
TOTAL ASSETS	73,634,759	60,892,833	57,466,554
LIABILITIES AND STOCKHOLDERS' DEFICIT
Payables to customers	31,312,809	23,935,348	20,162,973
Accounts and payables to officers/directors	352,536	199,088	686,579
Accounts payable and accrued expenses	5,329,871	6,194,311	5,393,912
Payables - broker-dealers and clearing organizations	1,735,543	497,660	4,915
Commissions, payroll and payroll taxes	386,589	395,214	273,386
Current portion of lease liability	114,271	111,983	149,499
Promissory notes	691,240	1,207,797	852,968
Current portion of long-term merger financing, net		980,106
Merger financing payable		1,618,575
Tau agreement liability		539,787
Debenture	206,610
Convertible Notes, net	4,458,025		3,783,437
Convertible notes derivative			16,462,690
Subscription agreement	691,321	2,489,945	2,425,647
Excise tax payable	2,673,056	2,611,618	2,067,572
Secured convertible note, net			6,857,101
Short-term merger financing, net			5,092,083
Contingent guarantee			3,256,863
Total Current Liabilities	49,631,940	41,003,400	51,321,915
Accrued contingent liability	100,000	100,000	100,000
Secured convertible note, net	100,546	8,909,070
Long-term convertible note Chardan, net		718,866
Derivative liability - Warrants	184,593	123,062	307,656
Earnout - liability	11,485,000	11,369,000	12,298,000
Deferred income tax liability	3,205,151	3,366,137	5,245,886
Subordinated borrowings	1,930,000	1,930,000	1,950,000
Trading account deposit	100,000	100,000	100,000
Long-term lease liability	41,346	70,746	182,729
Long-term merger financing, net			7,606,561
TOTAL LIABILITIES	66,778,576	67,690,281	95,575,437
Commitments and Contingencies (Note 9)
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value; 25,000,000 shares authorized; none issued or outstanding
Common stock, $0.0001 par value; 500,000,000 shares authorized; 126,819,145 and 40,165,602 shares issued and outstanding at September 30, 2025 and June 30, 2025, respectively	12,681	4,016	21
Additional paid-in-capital	149,848,705	135,763,445	110,165,209
Stock subscription receivable	(41,089)	(41,089)
Accumulated Deficit	(142,964,114)	(142,523,820)	(148,274,113)
TOTAL STOCKHOLDERS' DEFICIT	6,856,183	(6,797,448)	(38,108,883)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	73,634,759	60,892,833	57,466,554
Merger financing
LIABILITIES AND STOCKHOLDERS' DEFICIT
Derivative liability		63,696
Chardan Note
LIABILITIES AND STOCKHOLDERS' DEFICIT
Convertible Notes, net		3,282,518
Long-term convertible note Chardan, net	0	718,866
Debenture
LIABILITIES AND STOCKHOLDERS' DEFICIT
Derivative liability	1,189,955
Derivative
LIABILITIES AND STOCKHOLDERS' DEFICIT
Convertible notes derivative	435,027	103,185
Nonrelated Party
LIABILITIES AND STOCKHOLDERS' DEFICIT
Stock payable			259,893
Related Party
LIABILITIES AND STOCKHOLDERS' DEFICIT
Stock payable	$ 55,087	$ 55,087	$ 55,087

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2025	Jun. 30, 2025	Dec. 31, 2024	Jun. 30, 2024	Jun. 29, 2024	Jun. 30, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for credit losses	$ 401,128	$ 401,128		$ 401,128
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0		0
Preferred stock, shares outstanding	0	0		0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	500,000,000
Common stock, shares issued	126,819,145	40,165,603		207,585	12,455,157
Common stock, shares outstanding	126,819,145	40,165,603		207,585	12,455,157

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended	12 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2025	Jun. 30, 2025
REVENUES
Commissions	$ 2,334,389	$ 1,383,828	$ 1,750,159		$ 2,679,673			$ 5,937,532
Vetting fees	371,700	365,383	340,050		499,125			1,459,321
Clearing fees	714,349	1,047,712	624,550		756,393			3,165,714
Net gain/(loss) on firm trading accounts	(111)	1,711	6,390		10,046			6,580
Other revenue	830,263	5,448	9,650		56,246			287,465
TOTAL REVENUES	4,250,590	2,804,082	2,730,799		4,001,483			10,856,612
EXPENSES
Compensation, payroll taxes and benefits	3,123,630	1,279,304	1,355,058		2,386,837			6,150,257
Data processing and clearing costs	584,250	611,646	843,824		1,299,527			2,104,107
Regulatory, professional fees and related expenses	250,573	1,095,819	112,216		11,649,470			4,137,631
Stock compensation expense	155,411
Communications	218,869	152,754	172,018		254,608			650,560
Occupancy and equipment	36,751	54,004	54,765		76,324			211,347
Transfer fees	48,160	51,590	54,807		75,425			210,423
Bank charges	58,718	55,901	52,077		88,253			223,938
Bad debt	40	639			2,474			398,826
Intangible assets amortization	355,795	307,191	337,911		791,375			1,362,446
Other	295,631	136,975	147,042		185,840			324,358
Stock compensation - founder share transfer					1,462,650
TOTAL EXPENSES	5,127,828	3,745,184	3,129,718	$ 577,313	18,270,309	$ 1,485,122		15,773,893
LOSS FROM OPERATIONS	(877,238)	(941,102)	(398,919)	(577,313)	(14,268,826)	(1,485,122)		(4,917,281)
OTHER INCOME/(EXPENSE)
Interest income	486,357	606,758	587,637	8,458	1,195,081	8,458		1,996,399
Change in fair value of warrant liability derivative	(61,531)	246,125	307,656	(184,594)		(123,062)		184,594
Change in fair value, convertible note derivative	(52,873)	3,167,309	(992,152)		(3,585,902)			3,990,385
Change in fair value of long-term and short-term note derivative	103,185	11,152,870	(3,101,057)		(11,208,055)			12,369,120
Change in fair value of contingent guarantee		(839,775)	(3,256,863)		(3,256,863)		$ (839,775)	(839,775)
Change in fair value of secured convertible note		(89,535)			(753,039)
Change in fair value of merger financing	63,696	(63,195)
Change in fair value of earnout liability	(116,000)	(340,000)	(1,115,000)		(1,335,000)			929,000
Change in fair value of subscription agreement	1,798,624	(34,841)	(4,413,946)		(38,796)			(64,298)
Change in fair value of debenture derivative	(837,888)
Change in fair value, stock payable		196,151			985,072			232,793
Change in fair value, Tau agreement	334,549	(833,984)						(357,435)
Interest expense	(1,434,210)	(1,456,996)	(3,210,786)		(3,732,178)			(8,081,938)
Net gain on settlement				829,853	146,706	829,853
Loss on AtlasClear asset acquisition			(17,845,813)		(86,392,769)
Change in fair value, non-redemption agreement					(164,626)
Change in fair value, WDCO sellers convertible notes								49,348
Extinguishment of accrued expenses			114,199		879,473
TOTAL OTHER INCOME/(EXPENSE)	283,909	11,710,887	(31,794,347)	1,381,185	(106,507,857)	2,744,170		10,408,193
NET INCOME/(LOSS) BEFORE INCOME TAXES	(593,329)	10,769,785	(32,193,266)	803,872	(120,776,683)	1,259,048		5,490,912
Income tax (expense) benefit	(153,035)	21,752	(563,736)	318,313	(569,736)	581,118		(259,381)
NET INCOME/(LOSS)	$ (440,294)	$ 10,748,033	$ (31,629,530)	$ 485,559	$ (120,206,947)	$ 677,930		$ 5,750,293
Basic weighted average common stock outstanding (in shares)	59,947,249	256,405
Diluted weighted average shares outstanding, common stock (in shares)	59,947,249	1,892,470
Basic net income (loss) per share, common stock (in dollars per share)	$ (0.01)	$ 41.92
Diluted net loss per share, common stock (in dollars per share)	$ (0.01)	$ (1.9)
Redeemable Common Stock
OTHER INCOME/(EXPENSE)
Basic weighted average common stock outstanding (in shares)					18,500
Diluted weighted average shares outstanding, common stock (in shares)					18,500
Basic net income (loss) per share, common stock (in dollars per share)					$ (609.72)
Diluted net loss per share, common stock (in dollars per share)					$ (609.72)
Non-redeemable Common Stock
OTHER INCOME/(EXPENSE)
Basic weighted average common stock outstanding (in shares)					178,651			5,987,645
Diluted weighted average shares outstanding, common stock (in shares)					178,651			5,987,645
Basic net income (loss) per share, common stock (in dollars per share)					$ (696.05)			$ 0.96

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)	Common Stock Pacsquare	Common Stock Convertible notes	Common Stock Short-term Merger Financing	Common Stock Merger financing	Common Stock Secured convertible notes	Common Stock Promissory Notes	Common Stock Chardan Note	Common Stock	Additional Paid-in Capital Pacsquare	Additional Paid-in Capital Short-term Merger Financing	Additional Paid-in Capital Merger financing	Additional Paid-in Capital Secured convertible notes	Additional Paid-in Capital Promissory Notes	Additional Paid-in Capital Chardan Note	Additional Paid-in Capital	Subscription Receivable	Accumulated Deficit	Pacsquare	Short-term Merger Financing	Merger financing	Secured convertible notes	Promissory Notes	Chardan Note	Total
Beginning balance at Dec. 31, 2023								$ 8									$ (11,512,884)							$ (11,512,876)
Beginning balance (in shares) at Dec. 31, 2023								83,854
Shares issued as purchase consideration for the assets	$ 1								$ 1,141,499									$ 1,141,500
Shares issued as purchase consideration for the assets (in shares)	5,600
Vested portion of stock based compensation															$ 1,462,650									1,462,650
Founder Shares transferred at closing to non-redemption agreement holders															1,606,279									1,606,279
Founder Shares transferred at closing as consideration for Wilson Davis Acquisition															6,000,000									6,000,000
Founder Shares and warrants transferred to Secured convertible note holders															1,250,698									1,250,698
Shares issued to settle related party advances and promissory notes								$ 3							19,999,800		(15,422,234)							4,577,569
Shares issued to settle related party advances and promissory notes (in shares)								33,333
Common stock no longer subject to redemption															1,195,566									1,195,566
Common stock no longer subject to redemption (in shares)								1,825
Accretion of Common Stock subject to Possible Redemption																	592,577							592,577
Excise taxes related to redemptions																	(539,471)							(539,471)
Shares issued to settled vendor obligations								$ 1							1,459,975									1,459,976
Shares issued to settled vendor obligations (in shares)								5,886
Shares issued as deposit for purchase of the Commercial Bank acquisition															91,200									91,200
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)								667
Shares issued as settlement of accrued interest								$ 1							210,549									210,550
Shares issued as settlement of accrued interest (in shares)								2,420
Net (loss) income																	(120,206,947)							(120,206,947)
Ending balance at Jun. 30, 2024								$ 21							110,165,209		(148,274,113)							$ (38,108,883)
Ending balance (in shares) at Jun. 30, 2024								207,585																207,585
Common stock issued to for consulting services															2,578									$ 2,578
Common stock issued to for consulting services (in shares)								200
Shares issued as purchase consideration for the assets	$ 1								122,299									122,300
Shares issued as purchase consideration for the assets (in shares)	8,333
Shares issued as conversion in principle on convertible notes			$ 3				$ 3			$ 367,423				$ 324,997					$ 367,426				$ 325,000
Shares issued as conversion in principle on convertible notes (in shares)			31,035				29,485																29,485
Shares transferred by related parties as settlement for Company obligations under various financial instruments															2,412,930									2,412,930
Shares issued to related party as settlement in related party payable.								$ 5							803,855									803,860
Shares issued to related party as settlement in related party payable. (in shares)								46,471
Shares issued to as additional consideration for delayed payment on merger financing notes															16,340									16,340
Shares issued to as additional consideration for delayed payment on merger financing notes (in shares)								1,267
Shares issued under Tau agreement settled								$ 2							302,998	$ (154,619)								$ 148,381
Shares issued under Tau agreement settled (in shares)								24,092
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8)								$ 2							(2)
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8) (in shares)								22,292
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)																								1,234,990
Net (loss) income																	10,748,033							$ 10,748,033
Ending balance at Sep. 30, 2024								$ 37							114,518,627	(154,619)	(137,526,080)							(23,162,035)
Ending balance (in shares) at Sep. 30, 2024								370,760
Beginning balance at Jun. 30, 2024								$ 21							110,165,209		(148,274,113)							$ (38,108,883)
Beginning balance (in shares) at Jun. 30, 2024								207,585																207,585
Common stock issued to for consulting services								$ 20							44,321									$ 44,341
Common stock issued to for consulting services (in shares)								203,625
Shares issued as conversion in principle on convertible notes				$ 3,493	$ 26			$ 273			$ 14,992,557	$ 509,523			4,574,727					$ 14,996,050	$ 509,549			4,575,000
Shares issued as conversion in principle on convertible notes (in shares)				34,931,855	258,678			2,736,391
Shares transferred by related parties as settlement for Company obligations under various financial instruments									$ 2,412,930									$ 2,412,930
Shares issued to related party as settlement in related party payable.								$ 5							803,855									803,860
Shares issued to related party as settlement in related party payable. (in shares)								46,471
Shares issued to as additional consideration for delayed payment on merger financing notes															16,340									16,340
Shares issued to as additional consideration for delayed payment on merger financing notes (in shares)								1,267
Shares issued under Tau agreement settled								$ 156							1,911,314	(41,089)								1,870,381
Shares issued under Tau agreement settled (in shares)								1,566,885
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8)								$ 5							(5)
Shares issued for shares transferred by related party as repayment of shares transferred to cover Company obligations as noted above net of contributed capital for debt assumed (see Note 8) (in shares)								49,574
Shares issued to settled vendor obligations								$ 1							66,503									66,504
Shares issued to settled vendor obligations (in shares)								11,085
Shares issued under stock promotion agreement								$ 10							19,040									19,050
Shares issued under stock promotion agreement (in shares)								100,000
Shares issued as deposit for purchase of the Commercial Bank acquisition								$ 4							43,641									$ 43,645
Shares issued as deposit for purchase of the Commercial Bank acquisition (in shares)								36,070																1,234,990
Rounding up for fractional shares in reverse stock split								86
Net (loss) income																	5,750,293							$ 5,750,293
Ending balance at Jun. 30, 2025								$ 4,016							135,763,445	(41,089)	(142,523,820)							$ (6,797,448)
Ending balance (in shares) at Jun. 30, 2025								40,165,603																40,165,603
Shares issued as conversion in principle on convertible notes				$ 1,592	$ 6,394	$ 58	$ 485				$ 2,678,845	$ 9,585,256	$ 438,864	$ 959,279						$ 2,680,437	$ 9,591,650	$ 438,922	$ 959,764
Shares issued as conversion in principle on convertible notes (in shares)		4,845,072		15,922,008	63,944,332	585,229
Shares issued under Software as a Service License Agreement								$ 36							57,785									$ 57,821
Shares issued under Software as a Service License Agreement (In shares)								356,901
Shares issued for consulting services provided by director.								$ 80							169,840									169,920
Shares issued for consulting services provided by director. (In shares)								800,000
Shares issued under Tau agreement settled (in shares)																							4,845,072
Vested portion of stock based compensation															155,411									155,411
Shares issued to settled vendor obligations								$ 20							39,980									40,000
Shares issued to settled vendor obligations (in shares)								200,000
Shares issued for consulting services								$ 80							169,840									169,920
Shares issued for consulting services provided by director. (In shares)								800,000
Net (loss) income																	(440,294)							(440,294)
Ending balance at Sep. 30, 2025								$ 12,681							$ 149,848,705	$ (41,089)	$ (142,964,114)							$ 6,856,183
Ending balance (in shares) at Sep. 30, 2025								126,819,145																126,819,145

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT (Parenthetical)	3 Months Ended
	Sep. 30, 2025 USD ($)
Merger financing
Conversion amount	$ 2,680,437
Secured convertible notes
Conversion amount	9,591,650
Promissory Notes
Principal amount	438,922
Chardan Note
Conversion amount	959,764
Principal amount	$ 959,764

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows from Operating Activities:
Net income (loss)	$ (440,294)	$ 10,748,033
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in fair value of warrant liability derivative	61,531	(246,125)
Change in fair value of convertible note derivative	52,873	(3,167,309)
Change in fair value of long-term and short-term note derivative	(103,185)	(11,152,870)
Change in fair value of contingent guarantee		839,775
Change in fair value of debenture derivative	837,888
Change in fair value of secured convertible note		89,535
Change in fair value of merger financing	(63,696)	63,195
Change in fair value of earnout liability	116,000	340,000
Change in fair value of subscription agreement	(1,798,624)	34,841
Change in fair value of stock payable		(196,151)
Change in fair value of Tau agreement	(334,549)	833,984
Late fee paid in shares to sellers		16,340
Non-cash interest in expense on financial instruments	1,342,569	1,403,503
Realized gain on Tau agreement		30,562
Other non-cash (gain) loss	61,438
Consulting expense paid with stock	267,741
Stock based compensation	155,411	2,578
Bank acquisition deposit write off		91,200
Depreciation expense		4,569
Amortization of intangibles	355,795	307,191
Allowance for bad debt	40	639
Net lease payments	9	(249)
Changes in operating assets and liabilities:
Cash deposits with clearing organization & other B/Ds	(750,000)
Receivables from brokers & dealers	(9,469,913)	(583,869)
Receivables from customers	(660,213)	652,455
Receivables from others	(1,294)	(57,235)
Advances & prepaid expenses	230,526	23,692
Other assets	(37,587)
Payables to customers	7,377,461	(153,100)
Payables to officers & directors	153,448	42,357
Payable to brokers & dealers	1,237,883	15,323
Accounts payable and accrued expenses	(920,453)	223,401
Commissions and payroll taxes payable	(8,625)	(51,617)
Deferred taxes	(160,986)	20,959
Trading deposits	(1,430)
Net cash provided by (used for) operating activities	(2,500,236)	175,607
Cash Flows from Investing Activities
Cash paid for purchase of Pacsquare	(65,000)	(65,000)
Net cash used for investing activities	(65,000)	(65,000)
Cash Flows from Financing Activities
Proceeds from Tau agreement		148,383
Proceeds from Convertible Notes, net of transaction cost	4,700,000
Proceeds from debenture, net of transaction cost	490,000
Proceeds from third party advances	200,000
Repayment of promissory notes	(249,555)
Net cash provided by financing activities	5,140,445	148,383
Net Change in Cash	2,575,209	258,990
Cash at beginning of period	29,609,219	27,307,886
Cash at end of period	32,184,428	27,566,876
Supplementary cash flow information:
Cash paid for interest	33,725	24,375
Supplemental cash flow information non-cash investing and financing activities:
Decrease in goodwill due to change in deferred tax liability		1,562,200
Initial shares issued under Tau agreement		441,524
Value of shares transferred by related parties to settle obligations		2,412,930
Shares issued to related party for settlement of accounts payable		803,860
Receivable from shares advanced under Tau agreement	205,238	154,619
Original issued discount included in convertible note	1,000,000
Initial value of derivative		113,044
Secured convertible notes
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	9,591,650
Promissory Notes
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	438,922
Short-term Merger Financing
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	1,014,055
Merger financing
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	1,666,382
Initial value of derivative		113,044
Sellers Notes
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion		367,426
Chardan Note
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	959,764	325,000
Convertible note derivative
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	352,067
Debenture derivative
Supplemental cash flow information non-cash investing and financing activities:
Shares issued for conversion	$ 382,154
Pacsquare
Supplemental cash flow information non-cash investing and financing activities:
Shares issued to purchase amounts included in accounts payable		$ 137,300