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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Jun. 30, 2020
Current assets:    
Cash and cash equivalents $ 45,796,006 $ 28,161,644
Certificates of deposit account 5,386,034 5,381,918
Accounts receivable 2,542,429 15,973,537
Other receivables, net 50,040 61,090
Inventories, net 975,519 11,783,403
Prepaid expenses and other current assets 44,984 21,588
Advance payments to vendors 40,630 27,838
Total current assets 54,835,642 61,411,018
Property and equipment, net 151,610 220,889
Intangible assets, net 1,246,750 1,125,152
Deferred tax assets, non-current 387,548 938,188
Goodwill 273,285 273,285
Right of use assets 753,263 1,139,670
Other assets 140,539 283,369
TOTAL ASSETS 57,788,637 65,391,571
Current liabilities:    
Accounts payable 9,718,989 42,083,255
Income tax payable 333,503 34,713
Accrued liabilities 785,525 466,021
Lease liabilities, current 317,519 400,508
Total current liabilities 11,155,536 42,984,497
Lease liabilities, non-current 467,937 784,233
Notes payable, payroll protection plan loan 0 487,300
Total liabilities 11,623,473 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 June 30, 2021, and 2020 0 0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 11,590,281 and 10,605,912 shares issued and outstanding as of June 30, 2021, and 2020, respectively 14,069 14,007
Additional paid-in capital 12,972,234 7,475,365
Retained earnings 35,727,094 18,028,059
Treasury stock, 2,549,208 and 3,472,286 shares as of June 30, 2021, and 2020, respectively (3,554,893) (4,513,479)
Accumulated other comprehensive loss (472,502) (650,426)
Total Parent Company stockholders' equity 44,686,002 20,353,526
Non-controlling interests 1,479,162 782,015
Total stockholders' equity 46,165,164 21,135,541
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 57,788,637 $ 65,391,571