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Subsequent Events | 12 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 23 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to June 30, 2021 to the date these consolidated financial statements were available to be issued and has determined that there were below significant subsequent events or transactions that would require recognition or disclosure in the consolidated financial statements. On August 30, 2021, at the Company’s annual shareholder meeting for fiscal year 2020, a majority of the Company’s shareholders approved a proposal for the issuance of the Company’s common stock to ten non-US investors in a private placement. The proposal includes offerings up to 13,142,857 shares of Common Stock with par value $0.001 per share. The proposed purchase price per share of the offering was $15.00 for total proceeds up to $197,142,855. The purpose of the stock issuance was to raise fund for expanding the Company’s business into that of blockchain applications including cryptocurrency mining. At the meeting, the Company’s majority shareholder also approved the nomination of Mr. Jian Huang and Mr. Xiaolai Li, who have extensive knowledge and experience within the blockchain and cryptocurrency industries, to the Company’s Board of Directors. Messrs. Zhuoyu Li, Jian Huang, Xiaolai Li, Shiyu Zhang, Daqing Zhu, Lianfu Liu, and Jinjun Lu were elected to serve as directors until the next annual shareholders meeting or until their successors are duly elected or appointed.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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