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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 14,153,272 $ 1,023,922
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 45,339 43,871
Amortization of intangible assets 240,535 198,268
Deferred tax 252,908 125,169
Amortization of right of use assets 183,938 11,267
Compensation expense related to stock options granted 184,229 0
Bad debt expense 335,935 0
Forgiveness of payroll protection plan loan (487,300) 0
Increase (decrease) in cash due to change in:    
Accounts receivable (718,138) (3,302,551)
Inventories (1,392,737) (1,933,989)
Prepaid expenses and other current assets 7,539 (683)
Advance payments to vendors (14,275) 37,229
Other assets 138,405 (29,541)
Accounts payable 21,856,374 7,201,760
Income tax payable 1,935,576 49,145
Lease liabilities (190,377) 0
Advance payments from customers 688,572 0
Accrued liabilities (149,501) (10,725)
Net cash provided by operating activities 37,070,294 3,413,142
CASH FLOWS FROM INVESTING ACTIVITIES:    
Short-term investments (2,578) 4,607
Purchases of property and equipment (10,013) (138,090)
Payments for capitalized development costs (533,146) (333,668)
Purchases of intangible assets (1,403) (26,760)
Net cash used in investing activities (547,140) (493,911)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Sales of treasury stock 6,000,008 0
Cash received from exercise of stock options 55,990 0
Net cash provided by financing activities 6,055,998 0
Effect of foreign currency translation 284,520 18,750
Net increase in cash and cash equivalents 42,863,672 2,937,981
Cash and cash equivalents, beginning of year 28,161,644 6,447,505
Cash and cash equivalents, end of year 71,025,316 9,385,486
Cash paid during the periods for:    
Interest 0 0
Income taxes $ 1,940,825 $ 800