XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOW FROM OPERATING ACTIVITIES:    
Net loss $ (1,298,722) $ (3,005,937)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 41,341 68,105
Amortization of intangible assets 595,218 396,535
Stock based compensation 536,922 373,612
Bad debt expense 0 23,781
Forgiveness of debts (190,293) 0
Amortization of right of use assets 220,807 232,560
Deferred tax (benefit) (558,631) (1,171,345)
(Decrease) increase in cash due to change in:    
Accounts receivable (5,886,082) 477,155
Inventories (1,713,431) (6,676,070)
Prepaid expenses and other current assets (8,021) (144,099)
Prepaid income taxes (10,363) (102,055)
Loan to an employee (90,045) 0
Advance payments to vendors 117,436 (164,610)
Other assets 837 104,937
Accounts payable 1,214,246 2,533,695
Income tax payable (5,532) (176,599)
Unearned revenue from customers (65,202) 361,527
Lease liabilities (230,466) (242,218)
Advance payments from customers 2,237 0
Accrued liabilities 283,500 (185,376)
Net cash used in operating activities (7,044,244) (7,296,402)
CASH FLOW FROM INVESTING ACTIVITIES:    
Purchases of short-term investments (71,927) (1,240,376)
Purchases of property and equipment (45,212) (39,570)
Payments for capitalized product development costs (1,601,998) (475,366)
Purchases of intangible assets (12,570) (25,172)
Net cash used in investing activities (1,731,707) (1,780,484)
CASH FLOW FROM FINANCING ACTIVITIES:    
Cash received from exercise of stock options 134,000 21,595
Net cash provided by financing activities 134,000 21,595
Effect of foreign currency translation (65,713) (286,659)
Net decrease in cash and cash equivalents (8,707,664) (9,341,950)
Cash and cash equivalents, beginning of period 26,277,418 45,796,006
Cash and cash equivalents, end of period 17,569,754 36,454,056
Cash paid during the periods for:    
Income taxes $ (800) $ (316,355)