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1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Segment information by geographic areas

The following table contains certain financial information by geographic area:

 

   Three Months Ended   Nine Months Ended 
   March 31,   March 31, 
Net sales:  2021   2020   2021   2020 
North America  $44,054,824   $15,444,110   $172,853,744   $37,342,577 
Caribbean and South America   –    –    17,500    – 
Asia   276,130    102,072    276,738    337,735 
Totals  $44,330,954   $15,546,182   $173,147,982   $37,680,312 

 

 

Long-lived assets, net (property and equipment and intangible assets):  March 31, 2021   June 30, 2020 
North America  $1,494,008   $1,302,353 
Asia   44,582    43,688 
Totals  $1,538,590   $1,346,041 
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