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Unaudited Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net loss $ (7,154,196) $ (4,124,660)
Adjustments to reconcile Net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 1,342,287 1,225,024
Provision for losses on accounts receivable 2,653,360 1,694,887
Inventories impairment 4,017,664 1,684,703
Changes in operating assets    
Digital assets 165,942
Accounts receivable (6,702,559) (1,434,613)
Amount due from related parties 27,707 2,550
Other current assets 202,270 (9,385,507)
Inventories 3,877,331 (6,496,098)
Advances to suppliers (2,242,010) 12,684,175
Other assets 932,385 964,237
Deferred tax assets (16,355)
Changes in operating liabilities    
Accounts payable (545,901) 297,553
Customer deposits (213,643) (237,629)
Amount due to related parties (1,000) (10,969)
Tax payables (160,178) 48,130
Accrued expenses and other payables 1,750,222 1,019,323
Interest payable (734,953)
Net cash used in operating activities (2,066,674) (2,803,847)
Cash flows from investing activities    
Purchase of plant, property, and equipment (1,607,163) (305,689)
Sales of discontinued operations 895,411
Net cash (used in) provided by investing activities (1,607,163) 589,722
Cash flows from financing activities    
Proceeds from the sale of common stock 16,757,130
Proceeds from loans 2,770,707 2,865,315
Repayment of loans (1,579,303)
Advance from related party 191,000 250,000
Net cash provided by financing activities 1,382,404 19,872,445
Effect of exchange rate change on cash and cash equivalents 1,551,981 (1,309,475)
Net (decrease) increase in cash and cash equivalents (739,452) 16,348,845
Cash and cash equivalents, beginning balance 71,142,188 57,770,303
Cash and cash equivalents, ending balance 70,402,736 74,119,148
Supplement disclosure of cash flow information    
Interest expense paid 141,367 149,983
Income taxes paid $ 164,822 $ 211,167