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Shareholders' Equity | 6 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Shareholders' equity | Note 12 – Shareholders’ equity Restricted Stock Grants Restricted stock grants are measured based on the market price on the grant date. The Company has granted restricted ordinary shares to the members of the board of directors (the “Board”), senior management and consultants. In March 2019, the Board granted an aggregate of 720,000 restricted ordinary shares, which were issued with a fair value of $1,850,400 to the new CEO and CFO. These shares will vest over the required service period of three years starting from March 28, 2019. In July 2019, a total of 240,000 restricted ordinary shares were issued to them. For the six months ended December 31, 2019 and 2018, the Company recognized $0.3 million and $0 compensation expense related to restricted stock grants, respectively. Following is a summary of the restricted stock grants:
Restricted stock grants |  | Shares |  |  | Weighted Average Grant Date Fair Value Per Share |  |  | Aggregate Intrinsic Value |
Unvested as of June 30, 2018 |  |  | - |  |  | $ | - |  |  | $ | - |
Granted |  |  | 720,000 |  |  | $ | 2.57 |  |  |  | - |
Vested |  |  | (60,000 | ) |  | $ | 2.57 |  |  |  | - |
Unvested as of June 30, 2019 |  |  | 660,000 |  |  | $ | 2.57 |  |  |  | 607,200 |
Vested |  |  | (120,000 | ) |  | $ | 2.57 |  |  |  | - |
Unvested as of December 31, 2019 (unaudited) |  |  | 540,000 |  |  | $ | 2.57 |  |  | $ | 783,000 |
Ordinary Shares Issued for Debt Repayment In December 2019, the Company issued 276,290 ordinary shares, with a fair value of $389,570 determined using the closing price of $1.41 on December 30, 2019, to Hou Sing, the Company’s shareholder, to repay the debt owed to him. Ordinary Shares Issued for Compensation In April 2019, the Board granted an aggregate of 550,000 ordinary shares, which were issued with a fair value of $1,320,000, determined using the closing price of $2.40 on May 28, 2018, to three employees under the 2018 Plan. The 2018 Plan was authorized to issue 550,000 shares of the Company’s common shares. There are no remaining shares available to be issued under 2018 Plan. Ordinary Shares Issued for Services In May 2019, the Board granted an aggregate of 600,000 ordinary shares with a fair value of $1,758,000, determined using the closing price of $2.93 on May 8, 2019, to three service providers. The value of these shares are being amortized over the service period of one year starting from May 15, 2019. In July 2019, the Board granted an aggregate of 400,000 ordinary shares with a fair value of $1,400,000, determined using the closing price of $3.5 on July 19, 2019, to two service providers. The value of these shares are being amortized over the service period of one year starting from July 1, 2019. For the six months ended December 31, 2019 and 2018, the Company amortized approximately $1.5 million and $1.4 million deferred stock compensations, respectively. Sale of Ordinary Shares In May 2019, the Company sold 200,000 ordinary shares at $2.50 per share for total proceeds of $500,000 to a third-party individual. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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