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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net (loss) $ (85,138,971) $ (85,804,365)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization 2,424,425 2,850,502
Provision for losses on accounts receivable 40,069,195 61,056,089
Gain (Loss) on disposal of property, plant and equipment 34 1,584
Inventories impairment 10,999,380 30,711,331
Gain (Loss) on sales of discontinued operations (1,762,864)  
Changes in operating assets    
Accounts receivable 14,059,798 (72,590,519)
Amount due from related parties 40,003 (162,868)
Other current assets (12,496,618) (714,599)
Inventories (4,101,489) 11,171,731
Advances to suppliers (13,895,949) 36,166,189
Other assets 1,575,544 1,512,648
Changes in operating liabilities    
Accounts payable (8,515,619) 3,084,590
Customer deposits (80,238) (539,919)
Amount due to related parties 94,000
Tax payables (41,894) 952,179
Accrued expenses and other payables 11,001,661 1,720,890
Net cash used in operating activities (45,769,602) (10,584,537)
Cash flows from investing activities    
Purchase of plant, property, and equipment (92,931) (263,711)
Change in construction in process 32,605 (205,679)
Sales of discontinued operations 5,115,534
Net cash provided by (used in) investing activities 5,055,208 (469,390)
Cash flows from financing activities    
Proceeds from loans 305,200
Other payables-investors 70,774,275
Advance from related party 150,000 50,000
Net cash provided by financing activities 70,924,275 355,200
Effect of exchange rate change on cash and cash equivalents 2,632,571 3,839,537
Net increase in cash and cash equivalents 32,842,451 (6,859,191)
Cash and cash equivalents, beginning balance 18,593,944 11,934,778
Cash and cash equivalents, ending balance 51,436,395 5,075,587
Supplement disclosure of cash flow information    
Interest expense paid 203,796 181,269
Income taxes paid $ 308,157 $ 283,618