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Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Jun. 30, 2021
Current assets:    
Cash and cash equivalents $ 36,454,056 $ 45,796,006
Certificates of deposit account 6,626,410 5,386,034
Accounts receivable 2,026,963 2,542,429
Other receivables, net 64,570 50,040
Inventories, net 7,651,589 975,519
Prepaid income taxes 102,055 0
Prepaid expenses and other current assets 189,083 44,984
Advance payments to vendors 205,240 40,630
Total current assets 53,319,966 54,835,642
Property and equipment, net 123,075 151,610
Intangible assets, net 1,350,753 1,246,750
Deferred tax assets, non-current 1,558,893 387,548
Goodwill 273,285 273,285
Right of use assets 520,703 753,263
Other assets 35,602 140,539
TOTAL ASSETS 57,182,277 57,788,637
Current liabilities:    
Accounts payable 12,252,684 9,718,989
Income tax payable 156,904 333,503
Unearned revenue from customers 361,527 0
Accrued liabilities 600,149 785,525
Lease liabilities, current 305,766 317,519
Total current liabilities 13,677,030 11,155,536
Lease liabilities, non-current 237,472 467,937
Total liabilities 13,914,502 11,623,473
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 March 31, 2022 and June 30, 2021 0 0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 11,594,280 and 11,590,281 shares issued and outstanding as of March 31, 2022 and June 30, 2021, respectively 14,073 14,069
Additional paid-in capital 13,367,437 12,972,234
Retained earnings 32,667,074 35,727,094
Treasury stock, 2,549,208 shares as of March 31, 2022 and June 30, 2021 (3,554,893) (3,554,893)
Accumulated other comprehensive loss (759,161) (472,502)
Total Parent Company stockholders’ equity 41,734,530 44,686,002
Non-controlling interests 1,533,245 1,479,162
Total stockholders’ equity 43,267,775 46,165,164
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 57,182,277 $ 57,788,637