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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]    
Net income $ (136,752,136) $ 11,590,395
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Issuance of common stock and stock options for compensation 130,000
Depreciation and amortization 4,698,482 4,920,779
Provision for losses on accounts receivable 118,362,520 9,906,681
Gain (Loss) on disposal of property, plant and equipment 38,223 4,525
Amortization of debt discount 41,707 411,743
Goodwill impairment 607,677
Inventories impairment 39,643,198  
Change in fair value of derivative liability (17,736) (45,917)
Changes in operating assets    
Accounts receivable (82,782,877) 13,277,343
Amount due from related parties (66) 228,629
Other current assets (873,111) 63,973
Inventories 19,170,514 (110,880,651)
Advances to suppliers (33,450,217) 731,013
Other assets 1,889,043 1,977,942
Changes in operating liabilities    
Accounts payable (759,998) (7,209,214)
Customer deposits 1,016,311 (481,166)
Tax payables 355,567 1,448,673
Accrued expenses and other payables 2,590,822 2,237,401
Interest payable 25,593 277,003
Net cash provided by (used in) operating activities (66,196,484) (71,410,847)
Cash flows from investing activities    
Purchase of plant, property, and equipment (97,483) (63,610)
Change in construction in process 16,215
Net cash provided by (used in) investing activities (97,483) (47,395)
Cash flows from financing activities    
Proceeds from the sale of common stock 10,252,000 8,270,000
Proceeds from loans 3,537,500 3,640,000
Repayment of loans (3,537,500) (4,557,280)
Repayment of convertible notes (1,100,735)  
Advance from related party 600,000 409,230
Net cash provided by (used in) financing activities 9,751,265 7,761,950
Effect of exchange rate change on cash and cash equivalents (3,782,324) (14,849,542)
Net increase (decrease) in cash and cash equivalents (60,325,026) (78,545,834)
Cash and cash equivalents, beginning balance 72,259,804 150,805,639
Cash and cash equivalents, ending balance 11,934,778 72,259,804
Interest expense paid 304,071 318,122
Income taxes paid 2,889,673 5,129,686
Supplement non-cash activities    
Common stock issued to repay accrued expense 330,000 240,500
Convertible notes payments 6,863,250
Nonmonetary sales and purchases $ 43,537,582 $ 134,655,878