XML 19 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net (loss) $ (15,077,208) $ (30,952,914)
Adjustments to reconcile Net (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 812,559 920,432
Provision for losses on accounts receivable 5,831,528 17,562,141
Gain (Loss) on disposal of property, plant and equipment 84 1,528
Inventories impairment 10,845,543 12,910,479
Changes in operating assets    
Accounts receivable (2,008,214) (16,826,575)
Amount due from related parties (50,941) (157,905)
Other current assets 161,210 (328,204)
Inventories 1,084,711 (17,809,274)
Advances to suppliers 657,064 29,023,657
Other assets 519,911 486,453
Changes in operating liabilities    
Accounts payable (3,307,633) 1,090,518
Customer deposits 1,565,825 1,556,349
Amount due to related parties 244,000
Tax payables 7,219 428,007
Accrued expenses and other payables 229,298 441,796
Net cash provided by (used in) operating activities 1,514,956 (1,653,512)
Cash flows from investing activities    
Purchase of plant, property, and equipment (69,792) (21,112)
Change in construction in process 32,277 (8,855)
Sales of discontinued operations 1,830,683
Net cash provided by (used in) investing activities 1,793,168 (29,967)
Cash flows from financing activities    
Proceeds from loans 294,400
Net cash provided by financing activities 294,400
Effect of exchange rate change on cash and cash equivalents 120,495 2,286,224
Net increase in cash and cash equivalents 3,428,619 897,144
Cash and cash equivalents, beginning balance 18,593,944 11,934,778
Cash and cash equivalents, ending balance 22,022,563 12,831,922
Supplement disclosure of cash flow information    
Interest expense paid 72,099 56,768
Income taxes paid $ 96,089 $ 78,562