v3.21.2

Property and Equipment, Net | 12 Months Ended
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Jun. 30, 2021
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | Note 9. PROPERTY AND EQUIPMENT, NET The Company’s net property and equipment as follows:
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |
Buildings |  | $ |  |  |  | $ | 190,518 |
Motor vehicles* |  |  | 332,124 |  |  |  | 516,999 |
Computer equipment* |  |  | 86,831 |  |  |  | 97,172 |
Office equipment* |  |  | 34,747 |  |  |  | 43,587 |
Furniture and fixtures* |  |  | 205,303 |  |  |  | 71,697 |
System software* |  |  | 115,722 |  |  |  | 107,911 |
Leasehold improvements |  |  | 860,626 |  |  |  | 786,745 |
Total |  |  | 1,635,353 |  |  |  | 1,814,629 |
Less: Accumulated depreciation and amortization |  |  | (878,096 | ) |  |  | (1,291,339 | )
Property and equipment, net |  | $ | 757,257 |  |  | $ | 523,290 |
Depreciation and amortization expenses for the years ended June 30, 2021 and 2020 were $406,553 and $320,737, respectively.
| * | For the year ended June 30, 2021 and 2020, impairment of $855,230 and $127,177 was recorded due to continued decrease in revenues from the inland transportation management and container trucking segments and mining equipment which were not in use since June 2021 due to recent regulation change. In addition, the Company disposed of one vehicle resulting in a loss from disposal of $6,312.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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