v3.21.2
Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities    
Net loss $ (2,921,662) $ (748,456)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,927,400
Depreciation and amortization 140,710 83,719
Non-cash lease expense 118,178 37,918
(Recovery) provision for doubtful accounts, net (1,929,715) 18,353
Loss on disposal of fixed assets 52,489
Changes in assets and liabilities    
Accounts receivable 20,239 13,664
Other receivables 1,663,024 (114,571)
Advances to suppliers - third parties 573,818 (8,678)
Prepaid expenses and other current assets 112,449 19,171
Other long-term assets - deposits (20,061) (52,243)
Due from related parties 100,000
Deferred revenue (399,085) 758
Accounts payable (33,147) 67,788
Taxes payable 87,413 51,265
Lease liabilities (109,237) (18,855)
Accrued expenses and other current liabilities (11,572) 152,690
Net cash provided by (used in) operating activities 271,241 (397,477)
Investing Activities    
Acquisition of property and equipment (617,147)
Investment in unconsolidated entity (210,000)  
Advance to related parties (1,475,301)
Net cash used in investing activities (2,302,448)
Financing Activities    
Proceeds from issuance of common stock 1,111,069
Repayment of loan payable (1,776)
Net cash (used in) provided by financing activities (1,776) 1,111,069
Effect of exchange rate fluctuations on cash 144,540 179,015
Net increase (decrease) in cash (1,888,443) 892,607
Cash at beginning of period 44,837,317 131,182
Cash at end of period 42,948,874 1,023,789
Supplemental information    
Income taxes paid
Interest paid 1,445
Non-cash transactions of operating and investing activities    
Transfer of prepayment to intangible asset
Initial recognition of right-of-use assets and lease liabilities $ 1,384,721