XML 44 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 165,565 $ 4,587,911 $ 7,019,215
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Share-based compensation 2,478,295 7,184,862 5,128,696
Depreciation and amortization 1,219,812 912,248 677,241
Deferred tax expenses (benefits) 264,027 245,830 (413,609)
Lease expense to reduce operating lease right-of -use assets 1,070,385
Loss/(gain) on disposal of a long-term investment (138,479)
Share of (income) loss in equity investees, net of tax (70,263) 50,297 44,121
Loss/(gain) on disposal of subsidiaries 38,674 (9,022)
(Reversal of) provision for doubtful accounts (10,525) (178,010) 197,740
Loss from disposal of property and equipment 19,188 26,399
Impairment of long-term investments 85,326 102,155
Impairment of goodwill 2,382,538
Others (258,262) 25,615
Changes in assets and liabilities:      
Accounts receivable 454,071 (12,317,416) (16,712,597)
Prepayment, deposits and other assets 3,457,373 (123,268) (728,562)
Prepaid income tax 15,780
Amounts due from related parties 27,836 222,553 (224,429)
Accounts payable 346,438 (215,853) 363,697
Accrued expenses and other current liabilities 3,850 106,994 (18,349)
Contract liabilities 331,330 260,228 (378,628)
Tax payables 148,309 640,057 279,413
Amounts due to related parties (291,087) (115,260) 183,148
Salaries and benefits payable (769,939) 174,100 309,914
Operating lease liabilities (1,101,526)
Unrecognized tax benefit (266,276) 1,782,752 1,604,444
Net cash provided by (used in) operating activities 9,705,951 3,200,889 (2,609,773)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of property and equipment (519,282) (20,750,110) (1,072,389)
Proceeds from disposal of property and equipment 158,365 552
Acquisition of intangible assets (9,076) (6,521)
Payments for business acquisitions, net of cash acquired from acquisitions (304,476)
Acquisition of long-term investments (409,625) (331,036)
Disposition of long-term investments 111,066 786,427
Disposition of subsidiaries 13,806 (191,839)
Maturities of short-term investments 14,130,000
Purchases of short-term investments (14,130,000)
Maturities (purchases) of short-term investments, net 4,159,309 (3,375,521)
Repayments from a related party 204,211 15,491
Loans provided to a third party (185,906)
Loans provided to a related party (274,212) (83,651) (151,783)
Net cash used in investing activities (306,046) (16,290,683) (5,619,471)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term bank loans 23,388,911 21,955,625 13,301,775
Repayments of short-term bank loans (26,325,471) (14,484,851) (8,270,611)
Capital contributions from private placement and warrants, net of issuance costs 14,682,877
Proceeds from exercise of options 3,867 116,230
Purchase of noncontrolling interests (455,546)
Dividends paid to shareholders (1,175,684)
Dividends paid to noncontrolling interests (207,087) (34,137)
Net cash (used in) provided by financing activities (4,319,331) 7,474,641 19,340,588
Effect of exchange rate changes on cash (1,175,928) (727,242) 975,918
Net increase (decrease) in cash 3,904,646 (6,342,395) 12,087,262
Cash and cash equivalents and restricted cash at the beginning of the year 18,396,987 24,739,382 12,652,120
Cash, cash equivalents and restricted cash at the end of the year 22,301,633 18,396,987 24,739,382
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Income tax paid 1,619,792 676,179 1,746,327
Interest paid 365,893 342,144 154,516
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 22,214,029 18,396,987 24,739,382
Restricted cash 87,604
Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 22,301,633 $ 18,396,987 $ 24,739,382