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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Jun. 30, 2023
Current assets    
Cash and cash equivalents $ 1,488,027 $ 3,735,642
Accounts receivable, net 11,765,833 14,071,543
Inventories, net 15,782,322 20,593,889
Prepayments and other current assets 1,483,209 2,858,196
Total current assets 30,519,391 41,259,270
Non-current assets    
Right of use - non-current 7,141,633 7,837,345
Property and equipment, net 456,006 536,418
Deferred tax assets 3,122,363 2,155,250
Non-current prepayments 390,612 531,456
Goodwill 3,034,110 3,034,110
Investment in joint venture 31,287 33,113
Intangible assets, net 3,955,385 4,280,071
Other non-current assets 419,289 427,254
Total non-current assets 18,550,685 18,835,017
Total assets 49,070,076 60,094,287
Current liabilities    
Accounts payable 13,931,800 13,244,957
Credit cards payable 340,912 366,781
Customer deposit 340,876 350,595
Other payables and accrued liabilities 3,715,996 4,831,067
Advance from shareholders 87,305 85,200
Lease liability - current 2,065,177 2,159,173
Short-term loan payable - related party 1,032,189 0
Long-term promissory note payable - current portion 1,150,508 2,017,852
Revolving loan payable, net 2,862,857 0
Income taxes payable 283,519 276,683
Total current liabilities 25,811,139 23,332,308
Non-current liabilities    
Long-term revolving loan payable, net 0 9,791,191
Lease liability - non-current 5,503,365 6,106,047
Total non-current liabilities 5,503,365 15,897,238
Total liabilities 31,314,504 39,229,546
Commitments and contingency
Stockholders' Equity    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2023 and June 30, 2023 0 0
Common stock, $0.001 par value; 180,000,000 shares authorized; 29,710,939 and 29,710,939 shares issued and outstanding at December 31, 2023 and June 30, 2023 29,712 29,712
Additional paid in capital 29,883,647 29,624,520
Accumulated deficits (11,903,785) (8,702,442)
Non-controlling interest (30,906) (24,915)
Accumulated other comprehensive loss (223,096) (62,134)
Total stockholders’ equity 17,755,572 20,864,741
Total liabilities and stockholders’ equity $ 49,070,076 $ 60,094,287