Concentration

6 Months Ended

Dec. 31, 2022

Risks and Uncertainties [Abstract]

Concentration

4. Concentration

Customers

For the six months ended December 31, 2022 and 2021, our Company earned net revenues of $1,209,222 and $2,404,606 respectively. The vast majority of these revenues for the periods ended December 31, 2022 and 2021 were derived from a large number of customers.

Suppliers

For the six months ended December 31, 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 75.89% and 16.36% of the Company’s total inventory purchase for the six months ended December 31, 2022 and 75.56% and 18.76% of the Company’s total inventory purchase for the six months ended December 31, 2021, respectively.

Segment reporting information

A reconciliation of the Company’s segment operating income to the Consolidated Statements of Operations for the three and six months ended December 31, 2022 and 2021 is as follows:

	For the Three Months Ended
	December 31, 2022		December 31, 2021
Segment operating income
Paper and paper-based products	$	499,441	$	538,815
Total operating income	$	499,441	$	538,815

	For the Six Months Ended
	December 31, 2022		December 31, 2021
Segment operating income
Paper and paper-based products	$	1,209,222	$	977,358
Total operating income	$	1,209,222	$	977,358