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Segment Information and Geographic Areas
 12 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information and Geographic Areas

NOTE 21 – SEGMENT INFORMATION AND GEOGRAPHIC AREAS

 

The Company has identified three segments for its products and services; North America, Europe and Asia-Pacific. The reportable segments are business units located in different global regions. Each business unit provides similar products and services; license fees for leasing and asset-based software, related maintenance fees, and implementation and IT consulting services. Separate management of each segment is required because each business unit is subject to different operational issues and strategies due to their particular regional location. The Company accounts for intra-company sales and expenses as if the sales or expenses were to third parties and eliminates them in the consolidation.

 

The following table presents a summary of identifiable assets as of June 30, 2020 and 2019:

 

    As of     As of  
    June 30, 2020     June 30, 2019  
Identifiable assets:                
Corporate headquarters   $ 4,508,724     $ 2,947,727  
North America     5,949,653       5,730,928  
Europe     10,856,814       8,399,033  
Asia - Pacific     67,157,898       70,419,331  
Consolidated   $ 88,473,089     $ 87,497,019  

 

The following table presents a summary of investments under the equity method as of June 30, 2020 and 2019:

 

    As of     As of  
    June 30, 2020     June 30, 2019  
Investment in associates under equity method:                
Corporate headquarters   $ 473,692     $ 686,504  
Asia - Pacific     1,914,000       1,967,265  
Consolidated   $ 2,387,692     $ 2,653,769  

 

    For the Years  
    Ended June 30,  
    2020     2019  
Revenues from unaffiliated customers:                
North America   $ 4,444,862     $ 3,947,407  
Europe     11,914,071       9,148,165  
Asia - Pacific     39,712,565       54,019,594  
      56,071,498       67,115,166  
Revenue from affiliated customers                
Asia - Pacific     300,821       704,017  
      300,821       704,017  
Consolidated   $ 56,372,319     $ 67,819,183  
                 
Intercompany revenue                
Europe   $ 585,250     $ 574,517  
Asia - Pacific     7,045,640       7,511,236  
Eliminated   $ 7,630,890     $ 8,085,753  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ (408,016 )   $ (2,296,409 )
North America     (241,444 )     (756,510 )
Europe     1,766,434       1,473,274  
Asia - Pacific     75,049       13,597,185  
Consolidated   $ 1,192,023     $ 12,017,540  
                 
Depreciation and amortization:                
North America   $ 11,828     $ 26,275  
Europe     353,862       329,671  
Asia - Pacific     3,366,264       4,067,711  
Consolidated   $ 3,731,954     $ 4,423,657  
                 
Interest expense:                
Corporate headquarters   $ 33,710     $ 14,074  
Europe     9,905       6,876  
Asia - Pacific     303,241       290,848  
Consolidated   $ 346,856     $ 311,798  
                 
Income tax expense:                
Corporate headquarters   $ 1,075     $ 1,837  
North America     1,200       -  
Europe     326,524       320,263  
Asia - Pacific     812,269       735,684  
Consolidated   $ 1,141,068     $ 1,057,784  

 

The following table presents a summary of capital expenditures for the years ended June 30:

 

    For the Years  
    Ended June 30,  
    2020     2019  
Capital expenditures:                
North America   $ 3,904     $ 1,384  
Europe     763,308       502,823  
Asia - Pacific     609,933       2,222,351  
Consolidated   $ 1,377,145     $ 2,726,558  

 

Geographic Information

 

Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2020 and 2019.

 

    June 30, 2020     June 30, 2019  
    Revenue     Long-lived Assets     Revenue     Long-lived Assets  
                         
China   $ 20,065,572     $ 843,694     $ 31,622,024     $ 58,058  
Thailand     3,807,648       900,514       3,304,119       771,992  
USA     3,457,676       5,689,067       2,911,195       5,385,230  
UK     12,275,903       5,528,801       9,852,180       4,549,676  
Pakistan & India     2,008,907       19,103,687       2,006,934       22,125,464  
Australia & New Zealand     3,149,715       261,615       5,684,487       14,783  
Mexico     987,190       -       1,036,213       -  
Indonesia     5,611,454       -       3,909,304       -  
South Africa     496,480       -       2,135,027       -  
Other Countries     4,511,774       -       5,357,700       -  
Total   $ 56,372,319     $ 32,327,378     $ 67,819,183     $ 32,905,203  

 

Disclosed in the table below is the reconciliation of revenue by each entity and country disclosed above for the years ended June 30, 2020 and 2019.

 

    Revenues 2020  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     Other Countries  
                                                                   
North America:   $ 4,444,863     $ -     $ -     $ 3,457,673     $ -     $ -     $ -     $ 987,190     $ -     $ -     $ -  
Europe:     11,914,070       -       -       -       11,914,070       -       -       -       -       -       -  
Asia-Pacific:     40,013,386       20,065,572       3,807,648       -       361,833       2,008,910       3,149,715       -       5,611,454       496,480       4,511,774  
                                                                                         
Total   $ 56,372,319     $ 20,065,572     $ 3,807,648     $ 3,457,673     $ 12,275,903     $ 2,008,910     $ 3,149,715     $ 987,190     $ 5,611,454     $ 496,480     $ 4,511,774  

 

    Revenues 2019  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     Other Countries  
                                                                   
North America:   $ 3,947,408     $ -     $ -     $ 2,911,195     $ -     $ -     $ -     $ 1,036,213     $ -     $ -     $ -  
Europe:     9,148,164       -       -       -       9,148,164       -       -       -       -       -       -  
Asia-Pacific:     54,723,611       31,622,024       3,304,119       -       704,016       2,006,934       5,684,487       -       3,909,304       2,135,027       5,357,700  
                                                                                         
Total   $ 67,819,183     $ 31,622,024     $ 3,304,119     $ 2,911,195     $ 9,852,180     $ 2,006,934     $ 5,684,487     $ 1,036,213     $ 3,909,304     $ 2,135,027     $ 5,357,700