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SEGMENT REPORTING (Tables) | 3 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
SCHEDULE OF INFORMATION BY SEGMENT | The following table presents summarized information by segment for the three months ended September 30, 2022: SCHEDULE OF INFORMATION BY SEGMENT
|  | For the three months ended September 30, 2022 |
|  | Luobuma |  |  | Other agricultural |  |  | Freight |  |  |  |
|  | products |  |  | products |  |  | services |  |  | Total |
Segment revenue |  | $ | 5,574 |  |  | $ | 428,596 |  |  | $ | 101,528 |  |  | $ | 535,698 |
Cost of revenue and related business and sales tax |  |  | 206 |  |  |  | 548,942 |  |  |  | 77,427 |  |  |  | 626,575 |
Gross profit (loss) |  |  | 5,368 |  |  |  | (120,346 | ) |  |  | 24,101 |  |  |  | (90,877 | )
Gross profit (loss) % |  |  | 96.3 | % |  |  | (28.1 | )% |  |  | 23.7 | % |  |  | (17.0 | )%
The following table presents summarized information by segment for the three months ended September 30, 2021:
|  | For the three months ended September 30, 2021 |
|  | Luobuma |  |  | Other agricultural |  |  | Freight |  |  |  |
|  | products |  |  | products |  |  | services |  |  | Total |
Segment revenue |  | $ | 13,508 |  |  | $ | 452,387 |  |  | $ | 163,863 |  |  | $ | 629,758 |
Cost of revenue and related business and sales tax |  |  | 141,838 |  |  |  | 1,068,254 |  |  |  | 149,211 |  |  |  | 1,359,303 |
Gross profit (loss) |  |  | (128,330 | ) |  |  | (615,867 | ) |  |  | 14,652 |  |  |  | (729,545 | )
Gross profit (loss) % |  |  | (950.0 | )% |  |  | (136.1 | )% |  |  | 8.9 | % |  |  | (115.8 | )%
Total assets as of September 30, 2022 and June 30, 2022 were as follows:
|  | September 30, 2022 |  |  | June 30, 2022 |
Luobuma products |  | $ | 9,388,729 |  |  | $ | 10,982,562 |
Other agricultural products |  |  | 43,159,007 |  |  |  | 46,488,334 |
Freight services |  |  | 4,872,431 |  |  |  | 6,355,121 |
Total assets |  | $ | 57,420,167 |  |  | $ | 63,826,017 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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