XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Jun. 30, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 243,033 $ 366,140
Restricted cash 15,681 28,896
Accounts receivable, net 808,556 1,215,114
Inventories, net 2,431,753 1,588,525
Advances to suppliers, net 16,781,110 10,020,707
Derivative financial assets 6,610 6,380
Other current assets, net 11,052,078 7,294,454
TOTAL CURRENT ASSETS 31,687,558 20,903,961
Property and equipment, net 6,320,643 6,279,759
Land use right, net 616,133 615,607
Intangible assets, net 41,837,606 43,043,733
Goodwill 13,190,284 13,190,284
Operating lease right-of-use assets 161,693 146,035
TOTAL ASSETS 93,813,917 84,179,379
CURRENT LIABILITIES:    
Short-term loans 14,251,420 14,538,525
Long-term loans - current portion 14,255 632,959
Accounts payable 1,536,368 812,914
Contract liabilities 6,699,226 246,850
Other payables and accrued expenses 1,880,598 2,528,355
Operating lease liabilities - current 301,980 272,787
Convertible note payable - current 10,562,428 4,194,841
Deferred income 76,541 72,610
Taxes payable 1,355,110 1,387,630
TOTAL CURRENT LIABILITIES 38,993,149 27,562,855
Income tax payable - non-current portion 186,191 186,191
Operating lease liabilities - non-current 25,182
Convertible note payable - non-current 8,937,173
Long-term loans - non-current 1,753,416 1,080,159
Deferred tax liability 9,526,021 9,835,306
TOTAL LIABILITIES 50,483,959 47,601,684
Commitments and contingencies
EQUITY:    
Common stock; par value $0.001, 150,000,000 shares authorized; 1,481,197 and 332,215 shares issued and outstanding at September 30, 2024 and June 30, 2024 [1] 1,481 332
Additional paid-in capital 89,182,090 69,476,805
Subscription receivable (3,855,458)
Subscribed common stock 6,728,291
Statutory reserve 4,350,297 4,350,297
Accumulated deficit (56,359,471) (54,336,629)
Accumulated other comprehensive loss (38,004) (218,163)
Total Stockholders’ equity of Shineco, Inc. 33,280,935 26,000,933
Non-controlling interest 10,049,023 10,576,762
TOTAL EQUITY 43,329,958 36,577,695
TOTAL LIABILITIES AND EQUITY 93,813,917 84,179,379
Related Party [Member]    
CURRENT ASSETS:    
Due from related parties 348,737 383,745
Operating lease right-of-use assets 63,062 80,746
CURRENT LIABILITIES:    
Due to related parties $ 2,315,223 $ 2,875,384
[1] Retrospectively restated for effect of the Reverse Stock Split on November 12, 2024.