XML 14 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net Income $ 446,635 $ 2,366,627
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Allowance for doubtful accounts 1,038,762 147,505
Depreciation and amortization 129,203 117,086
Deferred tax benefit 39,388 (38,797)
Non-cash lease expense (1,105) 62,813
Loss from disposal of property and equipment (262,545)
Changes in assets and liabilities:    
Accounts receivable (2,093,244) (3,285,638)
Advance to suppliers (4,452,160) 1,178,486
Amounts due from related parties
Prepaid expenses and other current assets 2,111,735 (1,196,329)
Other non-current assets (740,197) 257,493
Accounts payable (661,891) 317,130
Deferred revenue (1,254,973) (419,123)
Taxes payable 311,741 665,261
Accrued liabilities and other payables 184,880 (32,207)
Due to a related party (225,000)
Operating lease liability (56,372) (63,208)
Net cash provided by (used in) operating activities (5,485,143) 77,099
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (74,411)
Net cash (used in) provided by investing activities (74,411)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short-term bank loans 1,569,218 4,200,348
Repayments of short-term bank loans (2,981,515) (1,448,396)
Proceeds from long-term bank loans (351,740)
Contribution from shareholders 34,069,438
Payment for deferred offering costs 82,440 (478,953)
Net cash provided by financing activities 32,387,841 2,272,999
Effect of exchange rate changes 362,729 190,760
Net increase (decrease) in cash 27,191,016 2,540,858
Cash at beginning of year 1,319,977 1,359,137
Cash at end of year 28,510,993 3,899,995
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Income tax paid 418,718 8,883
Interest expense paid $ 56,771 $ 98,163