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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:      
Net loss from continuing operations $ (18,671,528) $ (83,084,079) $ (7,219,611)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization expenses 895,935 1,054,088 924,112
Amortization of operating lease right of use assets 294,778 289,678 554,618
Impairment loss on goodwill 1,415,341 10,636,358
Expected credit loss expenses 19,409,914 5,467,941 9,080,967
Deferred income tax expense (benefit) (4,168,386) (1,413,789) 138,336
Investment income on short-term investments (76,768) (145,976)
Share-based compensation 454,380 16,693,135 1,480,087
Gain on disposal of a subsidiary (4,970) (402,044)
Bargain purchase gain (2,626,224)
Impairment loss from long term investment 24,005,161
Amortization of Convertible notes issuance costs 542,105
Changes in operating assets and liabilities:      
Accounts receivable (1,981,549) 7,682,935 (13,712,344)
Accounts receivable - related parties 628,274 (541,392)
Notes receivable 180,232 106,147 (184,984)
Prepayments 30,875 2,387,941 (3,402,031)
Prepayments - related parties (64,908) 289,748
Inventories (7,796,442) 851,902 (3,528,555)
Deferred contract costs 9,259,013
Prepaid expenses and other current assets, net (2,270,170) (576,297) (186,737)
Other non-current assets (127,476) 21,036,847 16,170
Accounts and notes payable (527,799) (13,107,548) 1,083,840
Accounts payable - related parties 70,989
Contract liabilities 6,981,311 870,667 2,346,272
Contract liabilities - related parties (70,834) (13,664)
Income tax payable (82,616) 1,300,178 58,856
Deferred revenue 399,431 522,156 (571,837)
Operating lease liabilities 8,124 34,825 (606,503)
Due to related parties 57,667 (1,114)
Accrued expenses and other liabilities (3,060,193) (1,733,392) (2,752,748)
Net cash used in operating activities of continuing operations (8,078,703) (6,501,715) (10,592,756)
Cash flows from investing activities      
Acquisition of property and equipment (19,370) (1,383) (63,457)
Capitalization of software development cost (524,563)
Purchases of short-term investments (7,280,539) (20,683,188)
Redemption of short-term investments 12,966,608 22,611,227
Cash paid for business combinations, net of cash acquired (70,011) (513,755)
Proceeds from disposal of a subsidiary, net of cash disposed of   212,641
Net cash provided by (used in) investing activities of continuing operations (19,370) 5,614,675 1,038,905
Cash flows from financing activities:      
Payment of deferred offering costs (478,480)
Contribution from the non-controlling shareholders 27,581
Acquisition of non-controlling interest (248,231)
Proceeds from issuance of convertible note 6,580,000    
(Repayment of) proceeds from issuance of convertible note (10,000,000) 10,000,000
Loans from related parties 30,000,000 15,000,000
Repayment of loans to related parties (30,000,000) (27,879,063)
Proceeds from short-term borrowings 6,281,758 11,283,576 5,530,043
Repayment of short-term borrowings (5,165,001) (5,517,944) (2,923,614)
Net cash (used in) provided by financing activities of continuing operations 7,696,757 (4,234,368) (971,764)
Effect of exchange rate changes on cash, cash equivalents and restricted cash of continuing operations 141,241 1,342,723 (1,596,656)
Net decrease in cash, cash equivalents and restricted cash of continuing operations (260,075) (3,778,685) (12,122,271)
Cash, cash equivalents and restricted cash at beginning of the year of continuing operations 9,078,491 12,857,176 24,979,447
Cash, cash equivalents and restricted cash at end of the year of continuing operations 8,818,416 9,078,491 12,857,176
Supplemental of cash flow information      
Cash paid for interest expense 248,122 839,083 93,299
Cash paid for income tax 20,374 89,114 36,969
Non-cash investing and financing activities      
Operating lease right of use assets obtained in exchange for operating lease liabilities 656,562 32,958
Remeasurement of operating lease liabilities and right of use assets due to lease modification 51,198
Accretion of convertible redeemable preferred shares 2,001,777
Issuance of shares in exchange for acquisition of non-controlling equity interest in a controlling subsidiary 1,019,772
Conversion of convertible redeemable preferred shares 69,253,178
Shares issued to acquire Fuwei Films (Holdings) Co., Ltd. 27,106,447
Shares allotment in connection with the reverse acquisition 12,676,378
Ordinary shares issued as part of consideration for business combination 13,877,605
Receivable arising from disposal of a subsidiary 30,000,000
Payable arising from acquisition of non-controlling equity interest in a controlling subsidiary 234,441
Payable arising from business combinations 413,088
Cash and cash equivalents 8,682,809 8,703,667 11,234,585
Restricted cash 135,607 374,824 1,622,591
Total cash, cash equivalents and restricted cash at end of the year $ 8,818,416 $ 9,078,491 $ 12,857,176