ACQUISITION (Tables)
|
9 Months Ended |
Mar. 31, 2024 |
Business Acquisition [Line Items] |
|
SUMMARIZES THE ALLOCATION OF ESTIMATED FAIR VALUES |
The
following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:
SUMMARIZES
THE ALLOCATION OF ESTIMATED FAIR VALUES
| |
| | |
Due from related party | |
$ | 108,296 | |
Inventory | |
| 18,115,423 | |
Other current assets | |
| 224,522 | |
Right of use assets | |
| 1,127,130 | |
Long-term investments and other non-current assets | |
| 166,107 | |
Other payables and other current liabilities | |
| (2,503,607 | ) |
Operating lease liabilities | |
| (1,013,492 | ) |
Total purchase price for acquisition, net of US$112,070 of cash | |
$ | 16,224,379 | |
|
Changzhou Biowin Pharmaceutical Co Ltd [Member] |
|
Business Acquisition [Line Items] |
|
SUMMARIZES THE ALLOCATION OF ESTIMATED FAIR VALUES |
The
following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:
SUMMARIZES
THE ALLOCATION OF ESTIMATED FAIR VALUES
| |
| | |
Accounts receivable, net | |
$ | 807,771 | |
Inventories, net | |
| 784,336 | |
Other current assets, net | |
| 49,979 | |
Property and equipment, net | |
| 138,252 | |
Intangible assets | |
| 12,683,656 | |
Operating lease right-of-use assets | |
| 173,831 | |
Goodwill | |
| 6,574,743 | |
Deferred tax assets, net | |
| 346,523 | |
Short-term bank loans | |
| (1,594,596 | ) |
Accounts payable | |
| (349,989 | ) |
Advances from customers | |
| (407,437 | ) |
Other current liabilities | |
| (446,729 | ) |
Operating lease liabilities - non-current | |
| (45,730 | ) |
Deferred tax liabilities | |
| (1,937,804 | ) |
Non-controlling interest | |
| (5,301,785 | ) |
Total purchase price for acquisition, net of US$621,979 of cash | |
$ | 11,475,021 | |
|
SCHEDULE OF INTANGIBLE ASSETS |
The
fair value of identified intangible assets, which are trademarks and patents, and its estimated useful lives as of March
31, 2024 is as follows:
SCHEDULE
OF INTANGIBLE ASSETS
| |
| | |
Average | |
| |
| | |
Useful Life | |
| |
| | |
(in Years) | |
| |
| | |
| |
Intangible assets | |
$ | 12,683,656 | | |
| 10 | |
Less: accumulated amortization | |
| (1,585,457 | ) | |
| | |
Total intangible assets, net | |
| 11,098,199 | | |
| | |
Less: intangible assets, net held for discontinued operations | |
| - | | |
| | |
Total intangible assets, net held for continuing operations | |
$ | 11,098,199 | | |
| | |
|
Chongqing Wintus Group [Member] |
|
Business Acquisition [Line Items] |
|
SUMMARIZES THE ALLOCATION OF ESTIMATED FAIR VALUES |
The
following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:
SUMMARIZES
THE ALLOCATION OF ESTIMATED FAIR VALUES
| |
| | |
Accounts receivable, net | |
$ | 12,507,353 | |
Advances to suppliers, net | |
| 3,513,448 | |
Inventories, net | |
| 1,782,180 | |
Derivative financial assets | |
| 6,212 | |
Other current assets, net | |
| 1,426,163 | |
Property and equipment, net | |
| 5,407,301 | |
Intangible assets | |
| 36,117,041 | |
Operating lease right-of-use assets | |
| 1,999 | |
Goodwill | |
| 21,440,360 | |
Short-term bank loans | |
| (12,021,992 | ) |
Accounts payable | |
| (6,686,700 | ) |
Advances from customers | |
| (78,677 | ) |
Tax payable | |
| (600,742 | ) |
Deferred income | |
| (77,007 | ) |
Other current liabilities | |
| (2,277,877 | ) |
Long-term bank loans | |
| (2,071,093 | ) |
Operating lease liabilities - non-current | |
| (1,847 | ) |
Deferred tax liabilities | |
| (9,186,376 | ) |
Non-controlling interest | |
| (8,197,473 | ) |
Total purchase price for acquisition, net of US$1,003,678 of cash | |
$ | 41,002,273 | |
Total purchase price for acquisition | |
$ | 41,002,273 | |
|
SCHEDULE OF INTANGIBLE ASSETS |
The
fair value of identified intangible assets, which are trademarks and patents, and its estimated useful lives as of March
31, 2024 is as follows:
SCHEDULE
OF INTANGIBLE ASSETS
| |
| | |
Average | |
| |
| | |
Useful Life | |
| |
| | |
(in Years) | |
| |
| | |
| |
Intangible assets | |
$ | 35,487,273 | | |
| 10 | |
Less: accumulated amortization | |
| (2,365,819 | ) | |
| | |
Total intangible assets, net | |
| 33,121,454 | | |
| | |
Less: intangible assets, net held for discontinued operations | |
| - | | |
| | |
Total intangible assets, net held for continuing operations | |
$ | 33,121,454 | | |
| | |
|