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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities    
Net (loss) $ (47,060,144) $ (70,989,577)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 1,631,019 1,867,471
Provision for losses on accounts receivable 25,279,928 38,475,657
Gain (Loss) on disposal of property, plant and equipment 34 1,562
Inventories impairment 10,999,380 30,791,832
Changes in operating assets    
Accounts receivable (588,426) (27,015,611)
Amount due from related parties (42,248) (172,434)
Other current assets 1,199,981 (251,484)
Inventories 11,209,817 (15,219,180)
Advances to suppliers (2,947,592) 34,718,741
Other assets 1,046,057 994,332
Changes in operating liabilities    
Accounts payable (6,343,299) (1,558,575)
Customer deposits 543,423 909,131
Tax payables 244,000 580,112
Accrued expenses and other payables (58,685) 630,812
Interest payable 6,527,291
Net cash used in operating activities (1,640,536) (6,237,210)
Cash flows from investing activities    
Purchase of plant, property, and equipment (83,816) (92,801)
Change in construction in process 32,471  
Sales of discontinued operations 1,841,677 (119,489)
Net cash provided by (used in) investing activities 1,790,332 (212,290)
Cash flows from financing activities    
Proceeds from loans 306,000
Net cash provided by financing activities 306,000
Effect of exchange rate change on cash and cash equivalents 1,582,358 4,035,108
Net increase in cash and cash equivalents 5,013,226 (2,108,392)
Cash and cash equivalents, beginning balance 18,593,944 11,934,778
Cash and cash equivalents, ending balance 23,607,170 9,826,386
Supplement disclosure of cash flow information    
Interest expense paid 138,518 123,953
Income taxes paid $ 240,265 $ 239,711