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Non-current prepayments | 6 Months Ended
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Dec. 31, 2023
Non-current Prepayments |
Non-current prepayments | Note 9 – Non-current prepayments Non-current prepayments included $356,241 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 $34,371 down payment on a four-year car lease. As of December 31, 2023 and June 30, 2023, total non-current prepayments were $390,612 and $531,456, respectively. For the three and six months ended December 31, 2023, the Company recorded $70,422 and $140,844 amortization of prepayments in the operating expenses, respectively. For the three and six months ended December 31, 2022, the Company recorded $107,917 and $215,834 amortization of prepayments in the operating expenses, respectively.

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