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Consolidated Statements of Cash Flows (unaudited) - USD ($)
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOW FROM OPERATING ACTIVITIES:    
Net (loss) income $ (3,005,937) $ 18,350,070
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 68,105 67,593
Amortization of intangible assets 396,535 342,070
Stock based compensation 373,612 282,116
Bad debt expense 23,781 338,485
Forgiveness of payroll protection plan loan 0 (487,300)
Amortization of right of use assets 232,560 286,273
Deferred tax (benefit) (1,171,345) 195,115
(Decrease) increase in cash due to change in:    
Accounts receivable 477,155 2,534,938
Inventories (6,676,070) 10,353,900
Prepaid expenses and other current assets (144,099) (27,656)
Prepaid income taxes (102,055) 0
Advance payments to vendors (164,610) (20,276)
Other assets 104,937 142,779
Accounts payable 2,533,695 (14,230,479)
Income tax payable (176,599) 2,307,543
Unearned revenue from customers 361,527 0
Lease liabilities (242,218) (295,931)
Accrued liabilities (185,376) 322,567
Net cash (used) provided by operating activities (7,296,402) 20,461,807
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchases of short-term investments (1,240,376) (3,345)
Purchases of property and equipment (39,570) (12,741)
Payments for capitalized product development costs (475,366) (587,246)
Purchases of intangible assets (25,172) (2,225)
Net cash used in investing activities (1,780,484) (605,557)
CASH FLOW FROM FINANCING ACTIVITIES:    
Sales of common stock sold from treasury stock 0 6,000,008
Cash received from exercise of stock options 21,595 74,750
Net cash provided by financing activities 21,595 6,074,758
Effect of foreign currency translation (286,659) 264,265
Net (decrease) increase in cash and cash equivalents (9,341,950) 26,195,273
Cash and cash equivalents, beginning of period 45,796,006 28,161,644
Cash and cash equivalents, end of period 36,454,056 54,356,917
Cash paid during the periods for:    
Income taxes $ (316,355) $ (2,800,825)