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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Jun. 30, 2019
Current assets:    
Cash and cash equivalents $ 28,161,644 $ 6,447,505
Certificates of deposit account 5,381,918 5,380,226
Accounts receivable 15,973,537 4,138,469
Other receivables, net 61,090 40,807
Inventories, net 11,783,403 1,052,740
Prepaid expenses and other current assets 21,588 28,042
Advance payments to vendors 27,838 51,340
Total current assets 61,411,018 17,139,129
Property and equipment, net 220,889 131,879
Intangible assets, net 1,125,152 1,109,911
Deferred tax assets, non-current 938,188 2,282,975
Goodwill 273,285 273,285
Right of use assets 1,139,670 0
Other assets 283,369 258,097
TOTAL ASSETS 65,391,571 21,195,276
Current liabilities:    
Accounts payable 42,083,255 5,672,514
Income tax payable 34,713 654
Accrued liabilities 466,021 247,658
Lease liabilities, current 400,508 0
Total current liabilities 42,984,497 5,920,826
Lease liabilities, non-current 784,233 0
Notes payable, payroll protection plan loan 487,300 0
Total liabilities 44,256,030 5,920,826
Parent Company stockholders' equity:    
Preferred stock, par value $0.001 per share, authorized 10,000,000 shares; No preferred stock issued and outstanding as of June 30, 2020 and 2019 0 0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 10,605,912 and 10,570,203 shares issued and outstanding as of June 30, 2020 and 2019, respectively 14,007 13,972
Additional paid-in capital 7,475,365 7,442,272
Retained earnings 18,028,059 12,477,441
Treasury stock, 3,472,286 shares as of June 30, 2020 and 2019 (4,513,479) (4,513,479)
Accumulated other comprehensive loss (650,426) (634,802)
Total Parent Company stockholders' equity 20,353,526 14,785,404
Non-controlling interests 782,015 489,046
Total stockholders' equity 21,135,541 15,274,450
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 65,391,571 $ 21,195,276