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v3.23.1

OPERATING SEGMENTS (Tables) | 9 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting [Abstract] |
SUMMARY OF IDENTIFIABLE ASSETS | The following table presents a summary of identifiable assets as of March 31, 2023 and June 30, 2022: SUMMARY OF IDENTIFIABLE ASSETS
|  | As of |  |  | As of |
|  | March 31, 2023 |  |  | June 30, 2022 |
Identifiable assets: |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 1,633,771 |  |  | $ | 844,178 |
North America |  |  | 6,332,955 |  |  |  | 6,442,219 |
Europe |  |  | 8,351,282 |  |  |  | 8,727,530 |
Asia - Pacific |  |  | 43,231,859 |  |  |  | 56,594,705 |
Consolidated |  | $ | 59,549,867 |  |  | $ | 72,608,632 |
SUMMARY OF INVESTMENT UNDER EQUITY METHOD | The following table presents a summary of investment under equity method as of March 31, 2023 and June 30, 2022: SUMMARY OF INVESTMENT UNDER EQUITY METHOD
|  | As of |  |  | As of |
|  | March 31, 2023 |  |  | June 30, 2022 |
Investment in associates under equity method: |  |  |  |  |  |  |  |
Asia - Pacific |  | $ | 1,066,878 |  |  | $ | 1,059,368 |
Consolidated |  | $ | 1,066,878 |  |  | $ | 1,059,368 |
SUMMARY OF OPERATING INFORMATION | The following table presents a summary of operating information for the three and nine months ended March 31: SUMMARY OF OPERATING INFORMATION
|  | For the Three Months |  |  | For the Nine Months |
|  | Ended March 31, |  |  | Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Revenues from unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 1,365,556 |  |  | $ | 1,113,820 |  |  | $ | 4,088,696 |  |  | $ | 3,104,433 |
Europe |  |  | 2,550,372 |  |  |  | 2,088,918 |  |  |  | 7,643,408 |  |  |  | 7,483,911 |
Asia - Pacific |  |  | 9,590,461 |  |  |  | 11,607,088 |  |  |  | 26,870,762 |  |  |  | 33,115,205 |
|  |  | 13,506,389 |  |  |  | 14,809,826 |  |  |  | 38,602,866 |  |  |  | 43,703,549 |
Revenue from affiliated customers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia - Pacific |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consolidated |  | $ | 13,506,389 |  |  | $ | 14,809,826 |  |  | $ | 38,602,866 |  |  | $ | 43,703,549 |
Intercompany revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Europe |  | $ | 103,249 |  |  | $ | 105,668 |  |  | $ | 292,210 |  |  | $ | 349,345 |
Asia - Pacific |  |  | 2,985,506 |  |  |  | 3,104,913 |  |  |  | 7,260,557 |  |  |  | 6,439,377 |
Eliminated |  | $ | 3,088,755 |  |  | $ | 3,210,581 |  |  | $ | 7,552,767 |  |  | $ | 6,788,722 |
Net income (loss) after taxes and before non-controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 289,652 |  |  | $ | (394,375 | ) |  | $ | 919,914 |  |  | $ | (127,742 | )
North America |  |  | (3,702 | ) |  |  | (86,722 | ) |  |  | 82,677 |  |  |  | (213,730 | )
Europe |  |  | (103,219 | ) |  |  | (575,533 | ) |  |  | (586,607 | ) |  |  | (973,972 | )
Asia - Pacific |  |  | 4,059,800 |  |  |  | 1,039,158 |  |  |  | 986,613 |  |  |  | 4,287,015 |
Consolidated |  | $ | 4,242,531 |  |  | $ | (17,472 | ) |  | $ | 1,402,597 |  |  | $ | 2,971,571 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 657 |  |  | $ | 451 |  |  | $ | 1,866 |  |  | $ | 1,544 |
Europe |  |  | 65,584 |  |  |  | 88,987 |  |  |  | 207,186 |  |  |  | 288,481 |
Asia - Pacific |  |  | 716,725 |  |  |  | 858,495 |  |  |  | 2,310,417 |  |  |  | 2,579,646 |
Consolidated |  | $ | 782,966 |  |  | $ | 947,933 |  |  | $ | 2,519,469 |  |  | $ | 2,869,671 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | 7,834 |  |  | $ | 8,105 |  |  | $ | 16,226 |  |  | $ | 28,111 |
North America |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Europe |  |  | 1,806 |  |  |  | 1,766 |  |  |  | 8,146 |  |  |  | 8,050 |
Asia - Pacific |  |  | 178,497 |  |  |  | 76,045 |  |  |  | 487,738 |  |  |  | 241,576 |
Consolidated |  | $ | 188,137 |  |  | $ | 85,916 |  |  | $ | 512,110 |  |  | $ | 277,737 |
Income tax expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate headquarters |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | (43,354 | )
North America |  |  | 1,600 |  |  |  | 400 |  |  |  | 1,600 |  |  |  | 46,154 |
Europe |  |  | 2,822 |  |  |  | - |  |  |  | 2,822 |  |  |  | 9,524 |
Asia - Pacific |  |  | 223,296 |  |  |  | 157,204 |  |  |  | 636,700 |  |  |  | 514,413 |
Consolidated |  | $ | 227,718 |  |  | $ | 157,604 |  |  | $ | 641,122 |  |  | $ | 526,737 |
SUMMARY OF CAPITAL EXPENDITURES | The following table presents a summary of capital expenditures for the nine months ended March 31: SUMMARY OF CAPITAL EXPENDITURES
|  | For the Nine Months |
|  | Ended March 31, |
|  | 2023 |  |  | 2022 |
Capital expenditures: |  |  |  |  |  |  |  |
North America |  | $ | 4,880 |  |  | $ | - |
Europe |  |  | 31,519 |  |  |  | 134,450 |
Asia - Pacific |  |  | 1,538,660 |  |  |  | 1,546,406 |
Consolidated |  | $ | 1,575,059 |  |  | $ | 1,680,856 |

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