| 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. |
|