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ACQUISITION (Tables)
 9 Months Ended
Mar. 31, 2023
Business Acquisition [Line Items]  
SUMMARIZES THE ALLOCATION OF ESTIMATED FAIR VALUES

The following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:

 

      
Due from related party  $108,296 
Inventory   18,115,423 
Other current assets   224,522 
Right of use assets   1,127,130 
Long-term investments and other non-current assets   166,107 
Other payables and other current liabilities   (2,503,607)
Operating lease liabilities   (1,013,492)
Total purchase price for acquisition, net of US$112,070 of cash  $16,224,379 
SCHEDULE OF INTANGIBLE ASSETS

The fair value of identified intangible assets, which are trademarks and patents, and its estimated useful lives as of March 31, 2023 is as follows:

 

        
       Average
   U.S. Dollars   Useful Life
   (Unaudited)   (in Years)
        
Intangible assets  $12,683,655   10
Less: accumulated amortization   (317,091)   
Total intangible assets, net as of March 31, 2023  $12,366,564    
Changzhou Biowin Pharmaceutical Co Ltd [Member]  
Business Acquisition [Line Items]  
SUMMARIZES THE ALLOCATION OF ESTIMATED FAIR VALUES

The following table summarizes the allocation of estimated fair values of net assets acquired and liabilities assumed:

 

      
Accounts receivable, net  $807,771 
Inventories, net   784,336 
Other current assets, net   49,979 
Property and equipment, net   138,252 
Intangible assets   12,683,656 
Operating lease right-of-use assets   173,831 
Goodwill   6,574,743 
Deferred tax assets, net   346,523 
Short-term bank loans   (1,594,596)
Accounts payable   (349,989)
Deferred revenue   (407,437)
Other current liabilities   (446,729)
Operating lease liabilities - non-current   (45,730)
Deferred tax liabilities   (1,937,804)
Non-controlling interest   (5,301,785)
Total purchase price for acquisition, net of US$621,979 of cash  $11,475,021