XML 50 R31.htm IDEA: XBRL DOCUMENT
v3.24.3

Intangible Assets and Digital Assets (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2024
Intangible Assets and Digital Assets [Abstract] |
Schedule of Intangible Assets | Intangible assets consisted of the following:
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |
Land use rights, net |  | $ | 7,624,558 |  |  | $ | 7,862,624 |
Trademarks |  |  | 5,688,599 |  |  |  | 5,701,011 |
Total |  | $ | 13,313,157 |  |  | $ | 13,563,635 |
Schedule of Land Use Rights and Trademarks | The Land Use Rights consisted of the following:
|  | June 30, 2023 |  |  | Foreign Currency Adjustment |  |  | Amortization/ Subtraction |  |  | June 30, 2024 |
Land use rights |  | $ | 11,088,765 |  |  |  | (24,141 | ) |  |  | - |  |  | $ | 11,064,624 |
Less: accumulated amortization |  |  | (3,226,141 | ) |  |  | - |  |  |  | (213,925 | ) |  |  | (3,440,066 | )
Total land use rights, net |  | $ | 7,862,624 |  |  |  | (24,141 | ) |  |  | (213,925 | ) |  | $ | 7,624,558 |
On July 2, 2010, the Company acquired Gufeng and its wholly owned subsidiary Tianjuyuan. The preliminary fair value on the acquired trademarks and brand names was estimated to be RMB41,371,630 (or $5,688,599) and is subject to an annual impairment test.
|  | June 30, |  |  | Foreign Currency |  |  | June 30, |
|  | 2023 |  |  | Adjustment |  |  | 2024 |
Trademarks |  | $ | 5,752,592 |  |  |  | (12,524 | ) |  | $ | 5,740,068 |
Less: accumulated amortization |  |  | (51,581 | ) |  |  | 112 |  |  |  | (51,469 | )
Total trademarks, net |  | $ | 5,701,011 |  |  |  | (12,412 | ) |  | $ | 5,688,599 |
Schedule of Estimated Amortization Expenses of Intangible Assets | Estimated amortization expenses of intangible assets for the next five twelve months periods ended June 30, are as follows:
Years Ending June 30, |  | Expense ($) |
2025 |  |  | 248,022 |
2026 |  |  | 236,419 |
2027 |  |  | 220,949 |
2028 |  |  | 220,949 |
2029 |  |  | 220,949 |
Schedule of Company’s Significant Digital Asset Bitcoin Holding | The following table presents the Company’s significant digital asset Bitcoin holdings as of June 30, 2024:
|  | Quantity |  |  | Cost Basis |  |  | Fair Value |
Bitcoin |  |  | 0.86 |  |  |  | 56,394 |  |  |  | 53,693 |
Total Bitcoin held as of June 30, 2024 |  |  | 0.86 |  |  | $ | 56,394 |  |  | $ | 53,693 |
Schedule of Presents a Roll-Forward of Total Digital Assets (Including Digital Assets, Restricted) | The following table presents a roll-forward of total digital assets (including digital assets, restricted) for the year ended June 30, 2024, based on the fair value model under ASU 2023-08:
|  | Fair Value |
Beginning Balance: Digital assets at June 30, 2023 |  | $ | 210,342 |
Addition of digital assets, mining proceeds |  |  | 1,282,420 |
Addition of digital assets, other |  |  | 339,567 |
Disposition of digital assets |  |  | (1,825,770 | )
Realized gain (loss) on digital assets |  |  | 49,834 |
Unrealized gain (loss) on digital assets |  |  | (2,701 | )
Digital assets at June 30, 2024 |  | $ | 53,693 |

X
- Definition Tabular disclosure of information about activity for crypto asset. Excludes information about crypto asset held for platform user. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147476168/350-60-50-3 + Details
Name: | us-gaap_CryptoAssetActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about crypto asset. Includes, but is not limited to, name, cost basis, fair value, and number of units held. Excludes information about crypto asset held for platform user. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147476168/350-60-50-1 + Details
Name: | us-gaap_CryptoAssetHoldingTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration