v3.21.2
Segment Reporting
 3 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT REPORTING

Note 19. SEGMENT REPORTING

 

ASC 280, “Segment Reporting”, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in unaudited condensed consolidated financial statements for detailing the Company’s business segments. 

 

The Company’s chief operating decision maker is the Chief Executive Officer, who reviews the financial information of the separate operating segments when making decisions about allocating resources and assessing the performance of the group. The Company has determined that it has three operating segments: (1) shipping agency and management services; (2) freight logistics services and (3) container trucking services.

   

The following tables present summary information by segment for the three months ended September 30, 2021 and 2020, respectively:

 

   For the Three Months Ended
September 30,
2021		 
   Shipping
Agency and
Management
Services		   Freight
Logistics
Services		   Total 
Net revenues  $
                     -
    $1,796,210   $1,796,210 
Cost of revenues  $
-
   $1,626,868   $1,626,868 
Gross profit  $
-
   $169,342   $169,342 
Depreciation and amortization  $
-
   $122,270   $122,270 
Total capital expenditures  $
-
   $634,206   $634,206 
Gross margin%   
-
%   9.4%   9.4%

  

   For the Three Months Ended
September 30,
2020		 
   Shipping
Agency and Management Services		   Freight
Logistics
Services		   Total 
Net revenues  $206,845   $929,954   $1,136,799 
Cost of revenues  $176,968   $918,258   $1,095,226 
Gross profit  $29,877   $11,696   $41,573 
Depreciation and amortization  $80,269   $3,450   $83,719 
Total capital expenditures  $
-
   $
-
   $
-
 
Gross margin%   14.4%   1.3%   3.7%

 

Total assets as of:

 

   September 30,   June 30, 
   2021   2021 
Shipping Agency and Management Services  $45,324,671   $47,347,418 
Freight Logistic Services   8,363,167    5,453,848 
Container Trucking Services   1,315    1,851 
Total Assets  $53,689,153   $52,803,117 

  

The Company’s operations are primarily based in the PRC and U.S, where the Company derives all of their revenues. Management also review consolidated financial results by business locations.

 

Disaggregated information of revenues by geographic locations are as follows:

 

   For the Three Months Ended 
   September 30,   September 30, 
   2021   2020 
PRC   725,078    929,954 
U.S.   1,071,132    206,845 
Total revenues  $1,796,210   $1,136,799