XML 43 R8.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Loss including noncontrolling interest $ (11,387,759) $ (9,698,015)
Adjustments to reconcile loss including noncontrolling interest to net cash used in operating activities:    
Gain on disposal of subsidiary (833,546)
Bad debt reversal (50,421)
Depreciation and amortization 494,480 701,430
Loss on disposal of fixed assets 2,979 2,443
Operating lease expense 167,969 620,696
Stock compensation expense 6,749,326 4,378,887
Investment loss 56,081
Changes in assets and liabilities:    
Accounts receivable (717,220) (15,387)
Inventory 91,076 (46,919)
Value-added tax prepayment (51,078) (29,212)
Prepaid expenses and other current assets (810,421) (141,545)
Accounts payable 597,744 839,735
Unearned revenue (472,584) 353,849
Accrued expenses and other payables (108,736) 523,534
Payment on operating lease liabilities (177,194) (575,156)
Net cash used in operating activities (6,398,883) (3,136,081)
Cash flows from investing activities:    
Acquisition of property and equipment (6,868) (3,881)
Acquisition of intangible assets (161,054) (80,438)
Cash disposed due to disposal of subsidiary (35)
Long-term investment (28,812)
Net cash used in investing activities (167,957) (113,131)
Cash flows from financing activities:    
Due to related parties 360,804 1,110,238
Proceeds from loan payables 2,197,400
Repayment of loan payables (1,582,513) (198,431)
Net proceeds from issuance of common stock 8,061,286
Net cash provided by financing activities 6,839,577 3,109,207
Effect of exchange rate changes on cash (111,203) (4,484)
Net increase (decrease) in cash 161,534 (144,489)
Cash, beginning of period 19,728 164,217
Cash, end of period 181,262 19,728
Supplemental disclosures of cash flow information:    
Cash paid for interest 20,516 25,501
Cash paid for income tax
Right-of-use assets obtained in exchange for operating lease liabilities 125,280 241,093
Transfer of debt owing to the Company’s’ CEO to Mr. Wanli Kuai $ 730,163