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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net loss $ (17,928,647) $ (7,012,113)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,576,756 2,267,833
Depreciation and amortization 402,294 130,920
Non-cash lease expense 151,866
Provision for doubtful accounts, net of recovery 14,910,502 3,978,893
Impairment loss of fixed assets and intangible asset 327,632
Impairment loss of deposit for leasehold improvement 425,068
Deferred tax provision 634,500
Changes in assets and liabilities    
Notes receivable 386,233 (386,233)
Accounts receivable 1,078,261 (2,553,973)
Other receivables (5,806,997) 161,057
Advances to suppliers - third parties 75,815 (3,671,931)
Advances to suppliers - related party 3,312,666
Prepaid expenses and other current assets 315,398 1,407,599
Other long-term assets - deposits 84,713 (2,928,775)
Due from related parties 413,408 1,422,254
Deferred revenue (1,601) (353,432)
Accounts payable (80,420) (2,709,194)
Taxes payable 91,025 487,197
Lease liabilities (114,840)
Accrued expenses and other current liabilities 222,068 1,114,597
Net cash used in operating activities (3,896,534) (4,273,067)
Investing Activities    
Acquisition of property and equipment (6,984) (143,493)
Proceeds from disposal of property and equipment 5,626
Net cash used in investing activities (1,358) (143,493)
Financing Activities    
Proceeds from issuance of common stock 940,131 850,000
Loan payable 280,470
Net cash provided by financing activities 1,220,601 850,000
Effect of exchange rate fluctuations on cash (334,177) (389,049)
Net decrease in cash (3,011,468) (3,955,609)
Cash at beginning of year 3,142,650 7,098,259
Cash at end of year 131,182 3,142,650
Supplemental information    
Income taxes paid 38,602 166,960
Non-cash transactions of operating and investing activities    
Transfer of prepayment to intangible asset 218,678
Initial recognition of right-of-use assets and lease liabilities $ 452,042