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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2020
Jun. 30, 2020
Current assets:    
Cash and cash equivalents $ 43,317,586 $ 28,161,644
Certificates of deposit account 5,383,539 5,381,918
Accounts receivable, net of allowance for bad debt of $93,151 and $0, respectively 27,782,709 15,973,537
Other receivables, net 104,698 61,090
Inventories, net 2,765,366 11,783,403
Prepaid expenses and other current assets 12,396 21,588
Advance payments to vendors 37,708 27,838
Total current assets 79,404,002 61,411,018
Property and equipment, net 204,187 220,889
Intangible assets, net 1,076,792 1,125,152
Deferred tax assets, non-current 853,317 938,188
Goodwill 273,285 273,285
Right of use assets 1,047,019 1,139,670
Other assets 286,294 283,369
TOTAL ASSETS 83,144,896 65,391,571
Current liabilities:    
Accounts payable 44,850,184 42,083,255
Income tax payable 1,917,886 34,713
Accrued liabilities 317,828 466,021
Lease liabilities, current 397,267 400,508
Total current liabilities 47,483,165 42,984,497
Lease liabilities, non-current 691,603 784,233
Notes payable, payroll protection plan loan 487,300 487,300
Total liabilities 48,662,068 44,256,030
Commitments and contingencies (Note 8)
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 September 30, 2020 and June 30, 2020 0 0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 11,541,990 and 10,605,912 shares issued and outstanding as of September 30, 2020, and June 30, 2020, respectively 14,020 14,007
Additional paid-in capital 12,620,181 7,475,365
Retained earnings 24,948,419 18,028,059
Treasury stock, 2,549,208 and 3,472,286 shares as of September 30, 2020 and June 30, 2020 (3,554,893) (4,513,479)
Accumulated other comprehensive loss (584,002) (650,426)
Total Parent Company stockholders' equity 33,443,725 20,353,526
Non-controlling interests 1,039,103 782,015
Total stockholders' equity 34,482,828 21,135,541
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 83,144,896 $ 65,391,571