For the three months ended September 30, 2022 and 2021, our Company earned net revenues of $709,782 and $1,168,781 respectively. The vast majority of these revenues for the year ended June 30, 2022 and 2021 were derived from a large number of customers.

For the three months ended September 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 69.93% and 19.23% of the Company’s total inventory purchase for the three months ended September 30, 2022 and 25.5% and 16.2% of the Company’s total inventory purchase for the three months ended September 30, 2021, respectively.

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

2022 2021

For the Period Ended

September 30, 2022
September 30, 2021

Segment operating income

Paper and paper-based products $ 709,782 $ 438,543

Cannabis products delivery - 730,237

Total operating income $ 709,782 $ 1,168,781