Concentration

12 Months Ended

Jun. 30, 2022

Risks and Uncertainties [Abstract]

Concentration

4. Concentration

Customers

For the year ended June 30, 2022 and 2021, our Company earned net revenues of $2,815,325 and $1,825,738 respectively. The vast majority of these revenues for the year ended June 30, 2022 and 2021 were derived from a large number of customers.

Suppliers

For the year ended June 30, 2022 and 2021, we purchased products for sale by SWC, the Company’s wholly owned subsidiary from several contract manufacturers located in Asia and the U.S. A substantial portion of the Company’s inventory was purchased from two suppliers which accounted over 10% of the total purchases. The two suppliers accounted for 71.46% and 21.99%, respectively, of the Company’s total inventory purchase for the year ended June 30, 2022.

Segment reporting information

A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for June 30, 2022 and 2021 is as follows:

	For the Year Ended
	June 30, 2022		June 30, 2021
Segment operating income
Paper and paper-based products	$	2,455,574	$	1,748,700
Cannabis products delivery		2,260,248		2,230,349
Total operating income	$	4,715,822	$	3,979,049