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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net loss $ (6,974,874) $ (7,154,196)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities    
Depreciation and amortization 1,325,454 1,342,287
Provision for losses on accounts receivable 5,418,948 2,653,360
Gain (Loss) on disposal of property, plant and equipment 68,041
Inventories impairment 2,144,297 4,017,664
Changes in operating assets    
Digital assets 53,693 165,942
Accounts receivable (8,639,122) (6,702,559)
Amount due from related parties 27,707
Other current assets 165,213 202,270
Inventories 1,989,082 3,877,331
Advances to suppliers (3,842,089) (2,242,010)
Other assets 938,664 932,385
Deferred tax assets (49,272) (16,355)
Changes in operating liabilities    
Accounts payable (133,422) (545,901)
Customer deposits 2,712,825 (213,643)
Amount due to related parties (1,000)
Tax payables (49,474) (160,178)
Accrued expenses and other payables 1,093,772 1,750,222
Net cash used in operating activities (3,778,264) (2,066,674)
Cash flows from investing activities    
Purchase of plant, property, and equipment (245,048) (1,607,163)
Long-term equity investment (8,495,862)
Net cash used in investing activities (8,740,910) (1,607,163)
Cash flows from financing activities    
Proceeds from loans 7,107,895 2,770,707
Repayment of loans (3,839,657) (1,579,303)
Advance from related party 191,000
Net cash provided by financing activities 3,268,238 1,382,404
Effect of exchange rate change on cash and cash equivalents (380,296) 1,551,981
Net decrease in cash and cash equivalents (9,631,232) (739,452)
Cash and cash equivalents, beginning balance 58,772,587 71,142,188
Cash and cash equivalents, ending balance 49,141,355 70,402,736
Supplement disclosure of cash flow information    
Interest expense paid 226,172 141,367
Income taxes paid $ 144,165 $ 164,822