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Non-current prepayments | 9 Months Ended
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Mar. 31, 2022
Non-current Prepayments |
Non-current prepayments | Note 9 – Non-current prepayments Non-current prepayments included $955,416 for product sourcing, marketing research and promotion, and other management advisory and consulting services to companies owned by an employee and minority shareholder and by relatives of a minority shareholder of the Company. The terms of these services are from two years to five years. In addition, there was a $78,125 down payment on a four-year car lease. As of March 31, 2022 and June 30, 2021, total non-current prepayments were $1,033,541 and $1,357,292, respectively. For the three and nine months ended March 31, 2022, the Company recorded amortization expenses of $107,917 and $323,751, respectively. For the three and nine months ended March 31, 2021, the Company recorded amortization expenses of $0.

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