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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Jun. 30, 2020
Accounting Policies [Abstract] |
Segment information by geographic areas | The following table contains certain financial information by geographic area:
|  | Fiscal Year Ended June 30, |
Net sales: |  | 2020 |  |  | 2019 |
United States |  | $ | 74,839,778 |  |  | $ | 36,217,387 |
Europe, the Middle East and Africa ("EMEA") |  |  | – |  |  |  | 224,427 |
Asia |  |  | 232,520 |  |  |  | 27,086 |
Totals |  | $ | 75,072,298 |  |  | $ | 36,468,900 |
Long lived assets by geographic area |
Long-lived assets, net (property and equipment and intangible assets): |  | June 30, 2020 |  |  | June 30, 2019 |
United States |  | $ | 1,302,353 |  |  | $ | 1,209,159 |
Asia |  |  | 43,688 |  |  |  | 32,631 |
Totals |  | $ | 1,346,041 |  |  | $ | 1,241,790 |
Schedule of receivables | The balances of our trade receivables are as follows:
|  | June 30, 2020 |  |  | June 30, 2019 |
Accounts Receivable |  | $ | 15,973,537 |  |  | $ | 4,138,469 |
Schedule of contract liabilities | Our contract liabilities are as follows:
|  | June 30, 2020 |  |  | June 30, 2019 |
Undelivered products |  | $ | 140, 000 |  |  | $ | 140,000 |
Useful lives of property and equipment | Depreciation is computed using the straight-line method over the estimated useful lives as follows:
Machinery |  | 6 years
Office equipment |  | 5 years
Molds |  | 3 years
Vehicles |  | 5 years
Computers and software |  | 5 years
Furniture and fixtures |  | 7 years
Facilities improvements |  | 5 years or life of the lease, whichever is shorter
Intangible Assets | The definite lived intangible assets consisted of the following as of June 30, 2020:
Definite lived intangible assets: |  | Expected Life |  | Average Remaining life |  | Gross Intangible Assets |  |  | Less Accumulated Amortization |  |  | Net Intangible Assets |
Complete technology |  | 3 years |  | 1.8 years |  |  | 18,397 |  |  |  | 7,666 |  |  |  | 10,731 |
Technology in progress |  | Not Applicable |  | - |  |  | 140,192 |  |  |  | – |  |  |  | 140,192 |
Software |  | 5 years |  | 2.9 years |  |  | 525,930 |  |  |  | 338,593 |  |  |  | 187,337 |
Patents |  | 10 years |  | 7.0 years |  |  | 20,734 |  |  |  | 10,821 |  |  |  | 9,913 |
Certifications & licenses |  | 3 years |  | 1.9 years |  |  | 4,078,310 |  |  |  | 3,301,331 |  |  |  | 776,979 |
Total as of June 30, 2020 |  |  |  |  |  | $ | 4,783,563 |  |  | $ | 3,658,411 |  |  | $ | 1,125,152 |
The definite lived intangible assets consisted of the following as of June 30, 2019:
Definite lived intangible assets: |  | Expected Life |  | Average Remaining life |  | Gross Intangible Assets |  |  | Less Accumulated Amortization |  |  | Net Intangible Assets |
Complete technology |  | 3 years |  | 3.0 years |  |  | 18,397 |  |  |  | – |  |  |  | 18,397 |
Technology in progress |  | Not Applicable |  | – |  |  | 465,352 |  |  |  | – |  |  |  | 465,352 |
Software |  | 5 years |  | 2.7 years |  |  | 423,436 |  |  |  | 278,266 |  |  |  | 145,170 |
Patents |  | 10 years |  | 6.3 years |  |  | 58,884 |  |  |  | 8,729 |  |  |  | 50,155 |
Certifications & licenses |  | 3 years |  | 0.8 years |  |  | 3,319,461 |  |  |  | 2,888,624 |  |  |  | 430,837 |
Total as of June 30, 2019 |  |  |  |  |  | $ | 4,285,530 |  |  | $ | 3,175,619 |  |  | $ | 1,109,911 |
Schedule of Expected Amortization Expense | The amortization expenses of the definite lived intangible assets for the next five years and thereafter are as follows:
| FY2021 |  | FY2022 |  | FY2023 |  | FY2024 |  | FY2025 |  | Thereafter |
Total | $ | 406,945 |  | $ | 338,496 |  | $ | 142,776 |  | $ | 26,993 |  | $ | 26,993 |  | $ | 42,757 |

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