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Non-current prepayments | 3 Months Ended
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Sep. 30, 2022
Non-current Prepayments |
Non-current prepayments | Note 9 – Non-current prepayments Non-current prepayments included $752,082 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 $65,625 down payment on a four-year car lease. As of September 30, 2022 and June 30, 2022, total non-current prepayments were $817,707 and $925,624, respectively. For the three months ended September 30, 2022 and 2021, the Company recorded amortization expenses of $107,917 and $107,917, respectively.

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