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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Jun. 30, 2022
CURRENT ASSETS:    
Cash and cash equivalents $ 24,238,173 $ 15,165,231
Accounts receivable, net 1,961,372 1,821,554
Due from related parties 6,274,484 6,794,987
Inventories, net 18,056,220 18,718,524
Advances to suppliers, net 3,551
Other current assets 3,255,748 17,231,578
TOTAL CURRENT ASSETS 53,785,997 59,735,425
Property and equipment, net 1,265,393 1,375,472
Investments 611,142 617,446
Long-term deposit and other noncurrent assets 7,972 9,525
Right of use assets 1,749,663 2,088,149
TOTAL ASSETS 57,420,167 63,826,017
CURRENT LIABILITIES:    
Accounts payable 1,457 1,547
Advances from customers 6,286 6,676
Due to related parties 2,480,548 2,798,800
Other payables and accrued expenses 2,444,050 10,272,194
Operating lease liabilities - current 586,553 959,909
Convertible note payable 14,283,239 14,416,956
Taxes payable 569,135 584,220
TOTAL CURRENT LIABILITIES 20,371,268 29,040,302
Income tax payable - noncurrent portion 446,860 446,860
Operating lease liabilities - non-current 873,173 1,025,967
TOTAL LIABILITIES 21,691,301 30,513,129
Commitments and contingencies
EQUITY:    
Common stock; par value $0.001, 100,000,000 shares authorized; 16,397,356 and 10,983,863 shares issued and outstanding at September 30, 2022 and June 30, 2022 16,397 10,984
Additional paid-in capital 60,891,487 52,998,924
Subscription receivable (3,782,340) (3,024,000)
Statutory reserve 4,198,107 4,198,107
Accumulated deficit (20,811,745) (18,372,023)
Accumulated other comprehensive loss (4,405,440) (2,100,756)
Total Stockholders’ equity of Shineco, Inc. 36,106,466 33,711,236
Non-controlling interest (377,600) (398,348)
TOTAL EQUITY 35,728,866 33,312,888
TOTAL LIABILITIES AND EQUITY $ 57,420,167 $ 63,826,017