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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2023
Jun. 30, 2023
Current assets:    
Cash and cash equivalents $ 6,844,719 $ 12,241,286
Short-term investments 26,802,145 26,728,313
Accounts receivable 9,921,362 8,949,802
Other receivables 20,971 14,438
Inventories, net 2,262,358 3,741,637
Prepaid expenses and other current assets 58,811 36,687
Loan to an employee 92,080 91,057
Advance payments to vendors 88,970 53,875
Total current assets 46,091,416 51,857,095
Property and equipment, net 92,125 101,088
Intangible assets, net 1,958,466 2,180,884
Deferred tax assets, non-current 2,286,375 2,235,515
Goodwill 273,285 273,285
Right of use assets 76,730 152,665
Other assets 124,152 126,546
TOTAL ASSETS 50,902,549 56,927,078
Current liabilities:    
Accounts payable 7,149,702 12,950,497
Income tax payable 6,556
Contract liabilities 227,454 146,488
Accrued legal contingency expense 2,400,000 2,400,000
Accrued liabilities 989,697 849,605
Lease liabilities, current 79,949 159,104
Total current liabilities 10,846,802 16,512,250
Total liabilities 10,846,802 16,512,250
Commitments and contingencies (Note 6)
Parent Company stockholders’ equity    
Preferred stock, par value $0.001 per share, authorized 10,000,000 shares; none issued and outstanding as of September 30, and June 30, 2023 0 0
Common stock, par value $0.001 per share, authorized 50,000,000 shares; 11,784,280 shares issued and outstanding as of September 30, and June 30, 2023, respectively 14,263 14,263
Additional paid-in capital 14,489,785 14,438,196
Retained earnings 28,843,529 29,101,225
Treasury stock, 2,549,208 shares as of September 30, and June 30, 2023 (3,554,893) (3,554,893)
Accumulated other comprehensive loss (1,145,399) (1,071,930)
Total Parent Company stockholders’ equity 38,647,285 38,926,861
Noncontrolling interests 1,408,462 1,487,967
Total stockholders’ equity 40,055,747 40,414,828
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 50,902,549 $ 56,927,078