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Condensed Financial Information of the Parent Company (Tables)
12 Months Ended
Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]  
Schedule of parent company balance sheets
   June 30,
2021
   June 30,
2020
 
ASSETS
CURRENT ASSETS:        
Cash  $26,636   $793,234 
Other receivables   8,900    1,002,300 
Prepayments and advances   4,300    150,000 
Total current assets   39,836    1,945,534 
           
OTHER ASSETS:          
Intercompany receivable   74,858,613    1,709,710 
Investment in subsidiaries   2,459,560    3,457,764 
Total other assets   77,318,173    5,167,474 
           
Total assets  $77,358,009   $7,113,008 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
           
CURRENT LIABILITIES:          
Other payables and accrued liabilities  $396,797   $511,799 
Other payables - shareholders   10,711    10,711 
Total current liabilities   407,508    552,510 
           
Total liabilities   407,508    552,510 
           
COMMITMENTS AND CONTINGENCIES   
 
    
 
 
           
SHAREHOLDERS’ EQUITY:          
Preferred share, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding   
-  
    
-  
 
Ordinary share, $0.001 par value, 200,000,000 shares authorized, 110,356,629 and 25,623,822 shares issued and outstanding as of June 30, 2021 and 2020, respectively   110,357    25,624 
Additional paid-in-capital   147,684,772    69,689,789 
Deferred stock compensation   (682,383)   (1,201,183)
Deficit   (70,162,245)   (61,923,732)
Total shareholders’ equity   76,950,501    6,590,498 
Total liabilities and shareholders’ equity  $77,358,009   $7,113,008 

 

Schedule of parent company statements of operations and comprehensive loss
    For the Years Ended June 30,  
    2021     2020     2019  
GENERAL AND ADMINISTRATIVE EXPENSES   $ (2,821,121 )   $ (1,402,044 )   $ (1,756,972 )
STOCK COMPENSATION EXPENSE     (5,717,900 )     (3,444,617 )     (4,592,200 )
LOSS FROM OPERATIONS     (8,539,021 )     (4,846,661 )     (6,349,172 )
                         
OTHER INCOME (EXPENSE), NET                        
Interest income    
-
     
-
      84  
Finance expense     (6,480 )     (5,007 )     (1,465 )
Equity loss of subsidiaries     (1,118,204 )     (12,562,142 )     (8,037,977 )
Gain on debt settlement     25,092      
-
     
-
 
Gain on sale of subsidiaries     1,400,100       5,787,213      
-
 
TOTAL OTHER INCOME (EXPENSE), NET     300,508       (6,779,936 )     (8,039,358 )
                         
NET LOSS     (8,238,513 )     (11,626,597 )     (14,388,530 )
                         
OTHER COMPREHENSIVE LOSS:                        
Foreign currency translation loss    
-
     
-
      (335,080 )
                         
COMPREHENSIVE LOSS   $ (8,238,513 )   $ (11,626,597 )   $ (14,723,610 )

 

Schedule of parent company statements of cash flows
   For the Years Ended June 30, 
   2021   2020   2019 
CASH FLOWS FROM OPERATING ACTIVITIES:            
Net loss  $(8,238,513)  $(11,626,597)  $(14,388,530)
Adjustments to reconcile net loss to cash used in operating activities:               
Stock compensation expense   5,717,900    3,444,617    4,592,200 
Equity loss of subsidiaries   1,118,204    12,562,142    8,037,977 
Gain on debt settlement   (25,092)   
-
    
-
 
Gain on sale of discontinued operations   (1,400,100)   (5,787,213)   
-
 
Changes in operating assets and liabilities               
Other receivables   (6,600)   
-
    
-
 
Prepayments and advances   (4,300)   (125,000)   15,458 
Intercompany receivables   (65,500,903)   (1,231,449)   (575,094)
Other payables and accrued liabilities   60,090    93,711    509,381 
Other payables – related parties   
-
    
-
    540,000 
Net cash used in operating activities   (68,279,314)   (2,669,789)   (1,268,608)
                
CASH FLOWS FROM INVESTING ACTIVITIES:               
Purchase of equipment   
-
    (2,000,000)   
-
 
Proceeds from disposal of subsidiaries   100    600,000    
-
 
Net cash provided by (used in) investing activities   100    (1,400,000)   
-
 
                
CASH FLOWS FROM FINANCING ACTIVITIES:               
Borrowings from shareholders   
-
    300,000    
-
 
Proceeds from sale of ordinary shares   62,341,025    4,502,901    950,000 
Proceeds from exercise of warrants   5,171,591    
-
    
-
 
Net cash provided by financing activities   67,512,616    4,802,901    950,000 
                
NET CHANGE IN CASH   (766,598)   733,112    (318,608)
                
CASH, beginning of year   793,234    60,122    378,730 
                
CASH, end of year  $26,636   $793,234   $60,122 
                
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:               
Accrued liabilities reclassified to loans payable – employees upon tri-party agreements  $
-
   $
-
   $308,089 
Ordinary shares issued to repay other payables – related parties and service providers  $
-
   $1,137,378   $4,928,400 
Ordinary shares issued to repay debt in subsidiary  $
-
   $5,240,679   $
-
 
Ordinary share issued for acquisition of subsidiary  $
-
   $1,889,799   $
-
 
Ordinary share issued for acquisition of equipment  $3,818,000   $1,963,607   $
-
 
Ordinary share issued for acquisition of intangible assets held in a subsidiary  $1,550,000   $
-
   $
-
 
Other receivables outstanding from disposal of subsidiary  $
-
   $1,000,000   $
-
 
Forgiveness of former subsidiary’s receivable upon disposal of subsidiary  $120,000   $
-
   $
-
 
Recognition of accrued liabilities from subsidiary  $
-
   $214,792   $
-
 
Derecognition of intercompany balance upon disposal of subsidiary  $
-
   $23,164,488   $
-
 
Proceeds from disposal of subsidiary received by intercompany  $1,400,000   $
-
   $
-