v3.21.2

Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party - USD ($)

Sep. 30, 2021

Jun. 30, 2021

Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]

Less: allowance for doubtful accounts

$ (384,331)

Total

$ 1,902,624

430,902

Tianjin Zhiyuan Investment Group Co., Ltd [Member]

Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]

Due from related parties

^[1]

384,331

Zhejiang Jinbang Fuel Energy Co., Ltd [Member]

Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]

Due from related parties

^[2]

431,702

430,902

Shanghai Baoyin Industrial Co., Ltd [Member]

Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]

Due from related parties

^[3]

$ 1,470,922

[1]	In June 2013, the Company signed a five-year global logistic service agreement with Tianjin Zhiyuan Investment Group Co., Ltd. (“Zhiyuan Investment Group”) and TEWOO Chemical& Light Industry Zhiyuan Trade Co., Ltd. (together with Zhiyuan Investment Group, “Zhiyuan”). Zhiyuan Investment Group is owned by Mr. Zhong Zhang. In September 2013, the Company executed an inland transportation management service contract with the Zhiyuan Investment Group whereby it would provide certain advisory services and help control potential commodities loss during the transportation process.Starting in late 2020, Mr, Zhang started selling off his shares of the Company and does not own shares of the Company as of June 30, 2021 and no longer a related party. Management’s reassessed the collectability and decided to provide full allowance for doubtful accounts as of June 30, 2021. The Company wrote off the balance for the three months ended September 30, 2021.
[2]	The Company advanced Zhejiang Jinbang Fuel Energy Co., Ltd (“Zhejiang Jinbang”) which is owned by Mr. Wang Qinggang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd., $477,278 and Zhejiang Jinbang return $46,376 for the year ended June 30, 2021. The rest of the advance is non-interest bearing and due on demand. There has been no change in the balance other than exchange difference.
[3]	The Company advanced Shanghai Baoyin Industrial Co., Ltd. which is 30% owned by Wang Qinggang, CEO and legal representative of Trans Pacific Logistic Shanghai Ltd., $1,470,922 for the three months end September 30, 2021. The advance is non-interest bearing and due on demand.

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