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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:

 

      
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:

 

      
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:

 

       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:

 

      
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 
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:

       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