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Consolidated Statements of Cash Flows
12 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,165,029 $ 1,145,721
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 577,086 561,019
Bad debt expense 1,427 4,350
Impairment of inventory value and provision 2,698 10,509
Deferred taxes (36,474) 51,689
Stock-based compensation 83,517 0
Unrealized loss (gain) on investments 125,570 (28,474)
Gain on disposal of equipment 0 (17,455)
Operating lease right-of-use asset - non-cash lease cost 656,600 764,311
Decrease (increase) in current assets:    
Accounts receivable (411,175) 44,356
Accounts receivable - related party 556,979 (192,820)
Prepaid income taxes and tax receivable 172,592 (431,005)
Inventories (81,868) (379,905)
Other current assets (204,417) (287,750)
Accounts payable, accrued expenses and legal settlement (74,022) (1,048,279)
Operating lease liabilities (670,639) (777,082)
Expense waivers - related party (11,514) 515
Net cash provided by (used in) operating activities 1,851,389 (580,300)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for acquisition of business, net 0 (508,851)
Proceeds from sale of property, plant and equipment 0 31,612
Purchase of property, plant and equipment (94,730) (44,041)
Payment of purchase consideration payable (623,592) 0
Proceeds from sale of investments 9,281,197 508,122
Purchase of investments (15,855,058) (3,712,250)
Net cash used in investing activities (7,292,183) (3,725,408)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of related party loans 0 (603,500)
Repayment of property and equipment loans (14,732) (41,884)
Principal payments of finance lease liability (5,573) 0
Proceeds from issuance of common stock, net of issuance costs 0 2,984,260
Net cash (used in) provided by financing activities (20,305) 2,338,876
Effect of exchange rate change on cash and cash equivalents 118,410 (191,213)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (5,342,689) (2,158,045)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING BALANCE 13,928,899 16,086,944
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, ENDING BALANCE 8,586,210 13,928,899
Cash and cash equivalents 8,161,167 12,915,620
Restricted cash 425,043 1,013,279
Total cash, cash equivalents and restricted cash shown in statement of cash flows 8,586,210 13,928,899
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:    
Interest paid 15,493 16,401
Income taxes paid, net 231,693 1,704,970
NON CASH INVESTING AND FINANCING ACTIVITIES:    
Purchase consideration payable 0 1,237,207
Acquisition of operating right-of-use assets through operating lease liability 103,603 1,057,965
Fair value of warrants of common stock issued to underwriters 0 132,000
Acquisition of equipment through finance lease liability $ 0 $ 150,625