Concentration

9 Months Ended

Mar. 31, 2021

Risks and Uncertainties [Abstract]

Concentration

3. Concentration

Customers

For the nine months ended March 31, 2021 and 2020, our Company earned net revenues of $2,851,822 and $1,891,140 respectively. The vast majority of these revenues for the period ended March 31, 2021 were derived from a large number of customers, whereas the vast majority of these revenues for the period ended March 31, 2020 were derived from a limited number of customers. There was one customer that accounted for approximately 11.6% of the Company’s total revenues for the period ended March 31, 2021.

Suppliers

For the period ended March 31, 2021, we purchased products for sale by the Company’s subsidiary from several contract manufacturers located in Asia and the U.S. A substantial portion of the Company’s inventory was purchased from two (2) suppliers. The two suppliers accounted for 33.2% and 19.40%, respectively, of the Company’s total inventory purchase for the period ended March 31, 2021.

For the period ended March 31, 2020, we purchased products for sale by the company’s subsidiaries from several contract manufacturers located in Asia and the U.S. A substantial portion of the Company’s inventory is purchased from two (2) suppliers. The two (2) suppliers accounted as follows: Two suppliers accounted for 31.21% and 17.80% of the Company’s total inventory purchase for the period ended March 31, 2020, respectively.