XML 31 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 7,019,215 $ 3,079,378 $ (3,432,589)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:      
Share-based compensation 5,128,696 4,004,080 7,016,089
Depreciation and amortization 677,241 593,173 403,700
Deferred tax (benefits) expenses (413,609) 172,740 100,109
Remeasurement loss of the previously held equity interest 19,682
Gain on disposal of a long-term investment (433,490)
Share of loss (income) in equity investees, net of tax 44,121 (207,363) 145,329
Gain on disposal of subsidiaries (9,022) (57,588)
Provision (reversal of) for doubtful accounts 197,740 231,133 (70,893)
Loss from disposal of property and equipment 26,399 633 9,689
Others 25,615    
Changes in assets and liabilities:      
Accounts receivable (16,712,597) (6,603,589) (3,055,040)
Prepayment, deposits and other assets (728,562) 206,054 (37,026)
Prepaid income tax 15,780 615,010 (442,498)
Amounts due from related parties (224,429)
Accounts payable 363,697 89,427 (417,801)
Accrued expenses and other current liabilities (18,349) 56,935 (425,109)
Contract liabilities (378,628) 69,278
Tax payables 279,413 408,007 102,408
Amounts due to related parties 183,148
Deferred subsidies   (109,250) (27,138)
Deferred revenue (69,241)
Salaries and benefits payable 309,914 3,564,029 639,024
Other non-current liabilities 1,604,444 194,939
Net cash (used in) provided by operating activities (2,609,773) 5,931,124 401,107
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of property and equipment (1,072,389) (167,701) (499,554)
Acquisition of intangible assets (6,521) (63,855)
Payments for business acquisitions, net of cash acquired from acquisitions (304,476) (1,556,910) (401,062)
Acquisition of long-term investments (331,036) (143,299) (1,093,274)
Disposition of a long-term investment 995,605
Disposition of subsidiaries (191,839) (65,242)
Maturities (purchases) of short-term investments (3,375,521) 1,109,389 (1,803,228)
Repayments from a related party 177,787 820,982
Loans provided to a third party (185,906)
Loans provided to related parties (151,783) (177,787) (820,982)
Net cash (used in) provided by investing activities (5,619,471) 173,229 (3,862,360)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term bank loans 13,301,775 3,821,602 3,641,661
Repayments of short-term bank loans (8,270,611) (3,896,240) (3,918,427)
Capital contributions from IPO and over-allotment, net 1,472,592
Capital contributions from private placement and warrants, net of issuance costs 14,682,877
Proceeds from exercise of options 116,230
Escrow receivable 200,000
Purchase of noncontrolling interests (455,546) (582,440)
Amounts due to related parties (146,604)
Dividends paid to noncontrolling interests (34,137)
Net cash provided by financing activities 19,340,588 125,362 466,782
Effect of exchange rate changes on cash 975,918 (178,930) (147,080)
Net increase (decrease) in cash 12,087,262 6,050,785 (3,141,551)
Cash and cash equivalents, at the beginning of the year 12,652,120 6,601,335 9,742,886
Cash, cash equivalents at the end of the year 24,739,382 12,652,120 6,601,335
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Income tax paid 1,746,327 1,169,717 768,956
Interest paid $ 154,516 $ 89,503 $ 69,602