Organization and Description of Business [Abstract]

VIE assessment

A VIE is an entity (1) that has total equity at risk that is not sufficient to finance its activities without additional subordinated financial support from other entities, (2) where the group of equity holders does not have the power to direct the activities of the entity that most significantly impact the entity’s economic performance, or the obligation to absorb the entity’s expected losses or the right to receive the entity’s expected residual returns, or both, or (3) where the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor that has disproportionately few voting rights. In order to determine if an entity is considered a VIE, the Company first performs a qualitative analysis, which requires certain subjective decisions regarding its assessments, including, but not limited to, the design of the entity, the variability that the entity was designed to create and pass along to its interest holders, the rights of the parties, and the purpose of the arrangement. If the Company cannot conclude after a qualitative analysis whether an entity is a VIE, it performs a quantitative analysis. The qualitative analysis considered the design of the entity, the risks that cause variability, the purpose for which the entity was created, and the variability that the entity was designed to pass along to its variable interest holders. When the primary beneficiary could not be identified through a qualitative analysis, we used internal cash flow models to compute and allocate expected losses or expected residual returns to each variable interest holder based upon the relative contractual rights and preferences of each interest holder in the VIE’s capital structure.

Leases

The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease right-of-use assets and lease liabilities are recognized at commencement based on the present value of lease payments over the lease term. As the implicit rate is typically not readily determinable in the Company’s lease agreements, the Company uses its incremental borrowing rate as of the lease commencement date to determine the present value of the lease payments. The incremental borrowing rate is based on the Company’s specific rate of interest to borrow on a collateralized basis, over a similar term and in a similar economic environment as the lease. Lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recognized on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Additionally, the Company accounts for lease and non-lease components as a single lease component for its identified asset classes. As of March 31, 2023, the Company does not have any material leases for the implementation of ASC 842.

Accounts receivable

Management regularly reviews the composition of accounts receivable and analyzes customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves at each year-end. Accounts considered uncollectible are provisioned for /written off based upon management’s assessment. As of March 31, 2023, and June 30, 2022, the Company had accounts receivable of $ 32,934,268 and $28,792,891, net of allowance for doubtful accounts of $61,627,460 and $58,000,266, respectively. The impact of COVID-19 caused the difficulty of accounts receivable collection from 2020 as numerous distributors encountered significant difficulties and/or hardships in their businesses amid the pandemic. The company recorded bad debt expense in the amount of $9 million and $40 million (included bad debt expense from discontinuing operations) for nine months ended March 31, 2023 and 2022, respectively. The Company adopts no policy to accept product returns after the sales delivery.

Intangible Assets

The Company records intangible assets acquired individually or as part of a group at fair value. Intangible assets with definitive lives are amortized over the useful life of the intangible asset, which is the period over which the asset is expected to contribute directly or indirectly to the entity’s future cash flows. The Company evaluates intangible assets for impairment at least annually and more often whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company has not recorded impairment of intangible assets as of March 31, 2023 and 2022, respectively.

Earnings per share

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted earnings per share consist of the following:

	Three Months Ended
	March 31
	2023		2022
Income (Loss) from continuing operations for Basic Earnings Per Share	$	189,605	$	(30,595,680	)
(Loss) from discontinued operations for Basic Earnings Per Share		-		(7,483,147	)
Income (Loss) for Basic Earnings Per Share		189,605		(38,078,827	)
Basic Weighted Average Number of Shares		13,380,914		8,487,629
Income (Loss) from continuing operations Per Share – Basic	$	0.02	$	(3.60	)
(Loss) from discontinued operations Per Share – Basic	$	-	$	(0.88	)
Net income (Loss) Per Share – Basic	$	0.02	$	(4.49	)
Income (Loss) from continuing operations for Diluted Earnings Per Share	$	189,605	$	(30,595,680	)
(Loss) from discontinued operations for Diluted Earnings Per Share	$	-	$	(7,483,147	)
Income (Loss) for Diluted Earnings Per Share	$	189,605	$	(38,078,827	)
Diluted Weighted Average Number of Shares		13,380,914		8,487,629
Income (Loss) from continuing operations Per Share – Diluted	$	0.02		(3.60	)
(Loss) from discontinued operations Per Share – Diluted	$	-	$	(0.88	)
Net income (Loss) Per Share – Diluted	$	0.02	$	(4.49	)

	Nine Months Ended
	March 31
	2023			2022
(Loss) from continuing operations for Basic Earnings Per Share	$	(3,935,055	)	$	(67,155,404	)
(Loss) from discontinued operations for Basic Earnings Per Share		-			(17,983,567	)
(Loss) for Basic Earnings Per Share		(3,935,055	)		(85,138,971	)
Basic Weighted Average Number of Shares		13,204,768			8,487,629
(Loss) from continuing operations Per Share – Basic	$	(0.30	)	$	(7.91	)
(Loss) from discontinued operations Per Share – Basic	$	-		$	(2.12	)
Net (Loss) Per Share – Basic	$	(0.30	)	$	(10.03	)
(Loss) from continuing operations for Diluted Earnings Per Share	$	(3,935,055	)	$	(67,155,404	)
(Loss) from discontinued operations for Diluted Earnings Per Share	$	-		$	(17,983,567	)
(Loss) for Diluted Earnings Per Share	$	(3,935,055	)	$	(85,138,971	)
Diluted Weighted Average Number of Shares		13,204,768			8,487,629
(Loss) from continuing operations Per Share – Diluted	$	(0.30	)		(7.91	)
(Loss) from discontinued operations Per Share – Diluted	$	-		$	(2.12	)
Net (Loss) Per Share – Diluted	$	(0.30	)	$	(10.03	)