XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (2,558,128) $ 5,342,124  
Net income from discontinued operations, net of tax 8,855,247  
NET LOSS FROM CONTINUING OPERATIONS (2,558,128) (3,513,123)  
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation and amortization 1,344,146 1,044,646  
Gain from disposal of property and equipment (769)  
Allowance for credit losses and doubtful accounts 548,366 29,670  
Reversal of inventory reserve (30,893) (26,232)  
Deferred tax benefit (293,432) (251,366)  
Amortization of right of use assets 39,460 17,550  
Common stock issued for management and employees 140,132 540,310  
Amortization of debt issuance and other costs 188,712 166,823  
Accrued interest expense for convertible notes 196,702 233,281  
Accrued interest income from third parties (192,172)  
Changes in operating assets and liabilities:      
Accounts receivable 35,218 3,989,078  
Advances to suppliers (6,411,163) 736,974  
Inventories (739,576) (24,869)  
Other current assets (119,341) 221,111  
Accounts payable 679,982 (5,061,341)  
Contract liabilities 6,311,658 87,085  
Deferred income 1,289 136,808  
Other payables and accrued expenses (1,161,835) 383,923  
Other long-term payable (35,238)  
Operating lease liabilities (6,005) 694  
Taxes payable (57,583) (16,908)  
Net cash used in operating activities from continuing operations (2,085,232) (1,341,124)  
Net cash used in operating activities from discontinued operations (162,009)  
Net cash used in operating activities (2,085,232) (1,503,133)  
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of property and equipment (16,064) (4,106)  
Proceeds from disposal of property and equipment 869  
Payment made for loans to third parties (535,779) (103,642)  
Payment made for loans to related parties 47,826 96,888  
Payment for derivative financial assets (21,873) (9,121)  
Redemption of derivative financial assets 21,873 8,844  
Acquisition of subsidiaries, net of cash 1,003,678  
Prepayment for business acquisition (2,630,000)  
Disposal of VIEs - Tenet-Jove, net of cash (13,889,752)  
Net cash used in investing activities from continuing operations (3,133,148) (12,897,211)  
Net cash used in investing activities from discontinued operations  
Net cash used in investing activities (3,133,148) (12,897,211)  
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term loans 4,959,924 4,002,118  
Repayment of short-term loans (5,229,438) (3,631,568)  
Proceeds from long-term loans 628,369  
Repayment of long-term loans (635,351) (13,772)  
Repayment of loan from third party (524,464)  
Repayment of convertible note (400,000)  
Proceeds from issuance of common stock 6,427,554 340,010  
Repayments of advances from related parties (160,113) (83,233)  
Net cash provided by financing activities from continuing operations 5,066,481 613,555  
Net cash provided by financing activities from discontinued operations 292,548  
Net cash provided by financing activities 5,066,481 906,103  
EFFECT OF EXCHANGE RATE CHANGE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH 15,577 202,508  
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (136,322) (13,291,733)  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of the period 395,036 14,166,759 $ 14,166,759
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of the period 258,714 875,026 $ 395,036
SUPPLEMENTAL CASH FLOW DISCLOSURES:      
Cash paid for interest 151,016 118,851  
SUPPLEMENTAL NON-CASH OPERATING, INVESTING AND FINANCING ACTIVITIES:      
Issuance of common shares for convertible notes redemption 2,554,999 1,330,000  
Issuance of common shares for proceeds received in prior year 6,728,291  
Issuance of common shares for business acquisition 2,300,000  
Transferal of equity interest of Tenet Jove for business acquisition of Wintus 37,705,951  
Right-of-use assets obtained in exchange for operating lease obligations $ 42,077 $ 32,666