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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:      
Net (Loss) Income $ (12,632,115) $ (25,257,696) $ 687,888
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Allowance for doubtful accounts 8,330,357 2,795,662 1,307,518
Impairment loss 5,200,000 1,109,194
Depreciation and amortization 399,873 2,140,976 310,343
Non-cash lease expenses 50,881 120,261 84,552
Loss from equity method investments 31,208
Deferred tax expense (benefit) 440,832 (334,045)
Gain on disposal of subsidiaries (1,242,400)
Gain on disposal of property and equipment (1,237)
Changes in assets and liabilities:      
Accounts receivable (15,051,073) 2,034,125 (3,001,954)
Advances to suppliers (5,877,685) 148,432 (7,542,591)
Prepaid expenses and other current assets (905,077) 8,334,953 1,533,471
Digital assets (740,586)
Other non-current assets (195,684) 36,432 (2,061,939)
Accounts payable 11,434,763 1,881,259 (898,452)
Contract liability 2,919,807 363,871 (1,599,990)
Taxes payable (243,369) 295,333
Accrued liabilities and other payables 3,425,010 (13,439) 156,840
Due to a related party (225,000)
Operating lease liability (60,756) (97,343) (86,933)
Net cash used in operating activities (5,156,846) (5,962,481) (11,376,196)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (16,794) (623,280) (82,733)
Prepayment for intangible items (7,988,850)
Advances paid for brand authorization (4,600,000)
Investments in film, net (535,834) (885,824)
Cash disposed on disposal of subsidiaries (4,791)
Proceeds from related party on disposal of subsidiary 13,841
Repayments from related party 13,329
Lending to related party (98,273) (13,849)
Investment of equity method investments (44,292) (43,143) (720,000)
Net cash used in investing activities (672,814) (6,166,096) (8,791,583)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term bank loans 4,318,459 4,141,736 3,433,810
Repayments of short-term bank loans (4,027,793) (3,307,636) (4,956,629)
Proceeds from long-term bank loans 2,090,023 (245,791)
Repayments of long-term bank loans (1,307,303) (345,145)
Contribution from shareholders 4,290,000 338,132 33,630,162
Repayments of related party loan (143,810)
Payment for offering costs (1,989,777) 1,197,380
Net cash provided by financing activities 3,373,609 683,277 33,058,932
Effect of exchange rate changes (64,695) (199,423) 184,902
Net (decrease) increase in cash (2,520,746) (11,644,723) 13,076,055
Cash at beginning of year 2,751,309 14,396,032 1,319,977
Cash at end of year 230,563 2,751,309 14,396,032
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Income tax paid 204,001 389,732 398,370
Interest expenses paid 241,604 226,296 56,733
Payment for R&D services received in the current period, funded through a prior period deposit designated as an investment. 7,988,018
Proceeds on disposal of a subsidiary not received by a related party $ 261,114