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Financial Information of the Parent Company (Tables)
12 Months Ended
Jun. 30, 2023
Financial Information of the Parent Company [Abstract]  
Schedule of Parent Company Balance Sheets
 

June 30,
2023

 

June 30,
2022

ASSETS

 

 

 

 

 

 

 

 

Non-current asset

 

 

 

 

 

 

 

 

Investment in subsidiaries and the VIE

 

$

15,544,196

 

 

$

10,494,915

 

Total assets

 

$

15,544,196

 

 

$

10,494,915

 

   

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

LIABILITIES

 

$

 

 

$

 

   

 

 

 

 

 

 

 

COMMITMENTS AND CONTINGENCIES

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Ordinary shares, US$0.16 par value, 35,000,000 shares authorized, 10,326,374 and 8,826,374 shares issued and outstanding as of June 30, 2023 and 2022, respectively: *

 

 

 

 

 

 

 

 

Class A shares, 30,000,000 shares authorized, 6,496,874 and 4,996,874 shares issued and outstanding

 

 

1,039,499

 

 

 

799,499

 

Class B shares, 5,000,000 shares authorized, 3,829,500 shares issued and outstanding

 

 

612,720

 

 

 

612,720

 

Additional paid-in capital

 

 

18,795,548

 

 

 

14,499,213

 

Accumulated deficit

 

 

(4,710,203

)

 

 

(6,461,373

)

Accumulated other comprehensive income(loss)

 

 

(193,368

)

 

 

1,044,856

 

Total shareholders’ equity

 

 

15,544,196

 

 

 

10,494,915

 

Total liabilities and shareholders’ equity

 

$

15,544,196

 

 

$

10,494,915

 

*        Retrospectively restated for effect of 1-for-4 reverse split on November 2020 and 1-for-2 reverse split on August 8, 2022 of the ordinary shares, see Note 16.

Schedule of Parent Company Statements of Comprehensive Income
 

For the Year Ended
June 30,

   

2023

 

2022

EQUITY IN EARNINGS OF SUBSIDIARIES AND VIE

 

$

1,751,170

 

 

$

2,569,810

NET INCOME

 

 

1,751,170

 

 

 

2,569,810

FOREIGN CURRENCY TRANSLATION ADJUSTMENTS

 

 

(1,238,224

)

 

 

817,991

COMPREHENSIVE INCOME ATTRIBUTABLE TO THE COMPANY

 

$

512,946

 

 

$

3,387,801

Schedule of Parent Company Statements of Cash Flows
 

For the Year Ended
June 30,

   

2023

 

2022

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net income

 

$

1,751,170

 

 

$

2,569,810

 

Adjustments to reconcile net cash flows from operating activities:

 

 

 

 

 

 

 

 

Equity in earnings of subsidiaries and VIE

 

 

(1,751,170

)

 

 

(2,569,810

)

Net cash used in operating activities

 

 

 

 

 

 

   

 

 

 

 

 

 

 

CHANGES IN CASH AND RESTRICTED CASH

 

 

 

 

 

 

CASH AND RESTRICTED CASH, beginning of year

 

 

 

 

 

 

CASH AND RESTRICTED CASH, end of year

 

$

 

 

$