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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 18,350,070 $ 2,083,786
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 67,593 67,829
Amortization of intangible assets 342,070 344,382
Deferred tax 195,115 358,364
Amortization of right of use assets 286,273 48,290
Compensation expense related to stock options granted 282,116 0
Bad debt expense 338,485 0
Forgiveness of payroll protection plan loan (487,300) 0
Increase (decrease) in cash due to change in:    
Accounts receivable 2,534,938 (7,108,734)
Inventories 10,353,900 234,208
Prepaid expenses and other current assets (27,656) 13,683
Advance payments to vendors (20,276) 23,116
Other assets 142,779 (23,305)
Accounts payable (14,230,479) 5,685,328
Income tax payable 2,307,543 49,145
Lease liabilities (295,931) 0
Accrued liabilities 322,567 103,444
Net cash provided by operating activities 20,461,807 1,879,536
CASH FLOWS FROM INVESTING ACTIVITIES:    
Short-term investments (3,345) 22,172
Purchases of shares of a subsidiary 0 (75,000)
Purchases of property and equipment (12,741) (157,688)
Payments for capitalized development costs (587,246) (343,360)
Purchases of intangible assets (2,225) (151,218)
Net cash used in investing activities (605,557) (705,094)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Sales of treasury stock 6,000,008 0
Cash received from exercise of stock options 74,750 27,769
Net cash provided by financing activities 6,074,758 27,769
Effect of foreign currency translation 264,265 (35,590)
Net increase in cash and cash equivalents 26,195,273 1,166,621
Cash and cash equivalents, beginning of year 28,161,644 6,447,505
Cash and cash equivalents, end of year 54,356,917 7,614,126
Cash paid during the periods for:    
Income taxes $ 2,800,825 $ 800