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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (4,185,181) $ 887,528
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Depreciation and amortization expense 191,934 4,056
Inventory reserve 74,998 0
Loss on equity method investment 3,390 0
Impairment loss - goodwill 3,060,034 0
Stock-based compensation expense 137,882 103,054
Non-cash operating lease expense 10,172 (4,246)
Amortization of debt premium / discount and non-cash financing costs 53,623 0
Change in operating assets and liabilities    
Accounts receivable (1,557,682) (5,187,599)
Inventories 45,084 (1,528,337)
Deferred tax liabilities (668,075) 0
Prepayments and other current assets 2,280,700 (1,550,930)
Non-current prepayments 107,917 107,917
Other non-current assets (5,894) (228,998)
Accounts payable 5,284,843 2,245,483
Credit cards payable (656,562) 202,865
Customer deposit 75,491 (49,023)
Other payables and accrued liabilities (3,856,115) 202,723
Income taxes payable (17,534) (413,678)
Net cash provided by (used in) operating activities 379,025 (5,209,185)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (57,989) (50,423)
Net cash used in investing activities (57,989) (50,423)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in receivable from related parties (82,500) 0
Proceeds from short-term loans 31,385 1,604,292
Payments on short-term loans 0 (1,767,061)
Proceeds from long-term loans 2,811,729 0
Payments on long-term loans 0 (9,748)
Net cash provided by (used in) financing activities 2,760,614 (172,517)
EFFECT OF EXCHANGE RATE ON CASH (61,451) 0
CHANGES IN CASH 3,020,199 (5,432,125)
CASH AND CASH EQUIVALENT, beginning of period 1,821,947 6,651,705
CASH AND CASH EQUIVALENT, end of period 4,842,146 1,219,580
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for income tax 55,000 756,653
Cash paid for interest $ 0 $ 0