2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Segment information by geographic areas

The following table contains certain financial information by geographic area: 

	Fiscal Year Ended June 30,
Net sales:	2021		2020
North America	$	183,771,146	$	74,839,778
Caribbean and South America		17,500		–
Asia		326,699		232,520
Totals	$	184,115,345	$	75,072,298

Long lived assets by geographic area

Long-lived assets, net (property and equipment and intangible assets):	June 30, 2021		June 30, 2020
United States	$	1,349,320	$	1,302,353
Asia		49,040		43,688
Totals	$	1,398,360	$	1,346,041

Schedule of receivables

The balances of our trade receivables are as follows:  

	June 30, 2021		June 30, 2020
Accounts Receivable	$	2,542,429	$	15,973,537

Schedule of contract liabilities

Our contract liabilities are as follows:

	June 30, 2021		June 30, 2020
Undelivered products	$	140,000	$	140,000

Useful lives of property and equipment

Depreciation is computed using the straight-line method over the estimated useful lives as follows:

Machinery	6 years
Office equipment	5 years
Molds	3 years
Vehicles	5 years
Computers and software	5 years
Furniture and fixtures	7 years
Facilities improvements	5 years or life of the lease, whichever is shorter

Intangible Assets

The definite lived intangible assets consisted of the following as of June 30, 2021:

Definite lived intangible assets:	Expected Life	Average Remaining life	Gross Intangible Assets		Less Accumulated Amortization		Net Intangible Assets
Complete technology	3 years	0.5 years		18,397		15,331		3,066
Technology in progress	Not Applicable	–		602,388		–		602,388
Software	5 years	3.0 years		399,811		268,495		131,316
Patents	10 years	3.9 years		21,105		12,951		8,154
Certifications & licenses	3 years	1.6 years		1,070,770		568,944		501,826
Total as of June 30, 2021			$	2,112,471	$	865,721	$	1,246,750

The definite lived intangible assets consisted of the following as of June 30, 2020:

Definite lived intangible assets:	Expected Life	Average Remaining life	Gross Intangible Assets		Less Accumulated Amortization		Net Intangible Assets
Complete technology	3 years	1.8 years		18,397		7,666		10,731
Technology in progress	Not Applicable	-		140,192		–		140,192
Software	5 years	2.9 years		525,930		338,593		187,337
Patents	10 years	7.0 years		20,734		10,821		9,913
Certifications & licenses	3 years	1.9 years		4,078,310		3,301,331		776,979
Total as of June 30, 2020			$	4,783,563	$	3,658,411	$	1,125,152

Schedule of Expected Amortization Expense

The amortization expenses of the definite lived intangible assets for the next five years and thereafter are as follows:  

	FY2022		FY2023		FY2024		FY2025		FY2026		Thereafter
Total	$	528,655	$	341,133	$	198,944	$	98,521	$	25,442	$	54,055