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CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Income Statement [Abstract]        
Net sales $ 11,851,971 $ 6,687,287 $ 28,944,554 $ 11,852,936
Cost of goods sold 9,806,461 5,327,957 24,359,140 9,636,662
Gross profit 2,045,510 1,359,330 4,585,414 2,216,274
Operating expenses:        
Selling, general and administrative 1,463,433 1,390,719 4,039,035 3,493,328
Research and development 1,052,672 1,050,180 2,999,207 3,179,221
Total operating expenses 2,516,105 2,440,899 7,038,242 6,672,549
Loss from operations (470,595) (1,081,569) (2,452,828) (4,456,275)
Other income, net:        
Interest income 158,418 1,745 281,155 5,555
Income from governmental subsidy 7,197 (871) 41,510 93,109
Gain from the forgiveness of accounts payable and accrued liabilities 25,293 0 190,293 0
Gain (loss) from foreign currency transactions (199,226) 54,540 (75,004) 223,785
Other income, net 111,888 707 152,971 1,029
Total other income, net 103,570 56,121 590,925 323,478
Loss before benefit for income taxes (367,025) (1,025,448) (1,861,903) (4,132,797)
Income tax benefit (578,664) (238,852) (563,181) (1,126,860)
Net income (loss) 211,639 (786,596) (1,298,722) (3,005,937)
Less: non-controlling interests in net income (loss) of subsidiary at 33.7% (35,990) (15,778) (41,036) 54,083
Net income (loss) attributable to Parent Company $ 247,629 $ (770,818) $ (1,257,686) $ (3,060,020)
Basic income (loss) per share attributable to Parent Company stockholders $ 0.02 $ (0.07) $ (0.11) $ (0.26)
Diluted income (loss) per share attributable to Parent Company stockholders $ 0.02 $ (0.07) $ (0.11) $ (0.26)
Weighted average common shares outstanding – basic 11,784,280 11,594,280 11,720,776 11,593,857
Weighted average common shares outstanding – diluted 11,784,280 11,594,280 11,720,776 11,593,857
Comprehensive income (loss)        
Net income (loss) $ 211,639 $ (786,596) $ (1,298,722) $ (3,005,937)
Translation adjustments (139,752) (85,973) (65,713) (286,659)
Comprehensive income (loss) 71,887 (872,569) (1,364,435) (3,292,596)
Less: comprehensive income (loss) attributable to non-controlling interest (35,990) (15,778) (41,036) 54,083
Comprehensive income (loss) attributable to controlling interest $ 107,877 $ (856,791) $ (1,323,399) $ (3,346,679)