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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 18,396,182 $ 5,918,587
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 90,322 92,736
Amortization of intangible assets 435,571 482,792
Stock based compensation 380,758 0
Bad debt expense 338,185 0
Forgiveness of payroll protection plan loan (487,300) 0
Disposal of intangible assets 140,192 38,498
Amortization of right of use assets 386,407 361,533
Deferred tax (benefit) 550,640 1,344,787
Increase (decrease) in cash due to change in:    
Accounts receivable 13,103,973 (11,855,351)
Inventories 10,807,884 (10,730,663)
Prepaid expenses and other current assets (23,396) 6,454
Advance payments to vendors (12,792) 23,502
Other assets 142,830 (25,272)
Accounts payable (32,364,266) 36,410,741
Income tax payable 298,790 34,059
Lease liabilities (399,285) (316,462)
Accrued liabilities 319,504 218,363
Net cash provided by operating activities 12,104,199 22,004,304
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchases of short-term investments (4,116) (1,692)
Purchases of shares of a subsidiary 0 (75,000)
Purchases of property and equipment (21,043) (181,746)
Payments for capitalized product development costs (694,909) (343,360)
Purchases of intangible assets (2,452) (193,171)
Net cash used in investing activities (722,520) (794,969)
CASH FLOW FROM FINANCING ACTIVITIES:    
Proceeds of payroll protection plan loan 0 487,300
Sales of common stock sold from treasury stock 6,000,008 0
Cash received from exercise of stock options 74,751 33,128
Net cash provided by financing activities 6,074,759 520,428
Effect of foreign currency translation 177,924 (15,624)
Net increase in cash and cash equivalents 17,634,362 21,714,139
Cash and cash equivalents, beginning of year 28,161,644 6,447,505
Cash and cash equivalents, end of year 45,796,006 28,161,644
Supplemental disclosure of cash flow information:    
Cash paid during the periods for: Income taxes (4,124,485) (800)
Non-cash investing and financing activities:    
Initial adoption of right to use assets 0 1,501,203
Initial adoption of lease liabilities $ 0 $ 1,501,203