Segment Reporting

3 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

SEGMENT REPORTING

Note 18. 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, 2020 and 2019, respectively:

	For the Three Months Ended September 30, 2020
	Shipping Agency and Management Services			Freight Logistics Services			Container Trucking 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	%

	For the Three Months Ended September 30, 2019
	Shipping Agency and Management Services			Freight Logistics Services			Container Trucking Services			Total
Net revenues	$	500,000		$	1,242,142	*	$	44,084		$	1,786,226
Cost of revenues	$	95,822		$	547,684	*	$	39,898		$	683,404
Gross profit	$	404,178		$	694,458		$	4,186		$	1,102,822
Depreciation and amortization	$	102,774		$	7,702		$	44,101		$	154,577
Total capital expenditures	$	4,538		$	-		$	-		$	4,538
Gross margin%		80.8	%		55.9	%		9.5	%		61.7	%

* For certain freight logistics contracts that the Company entered into with customers starting from first quarter of fiscal year 2020, the Company (i) acts as an agent in arranging the relationship between the customer and the third-party service provider and (ii) does not control the services rendered to the customers, revenues related to these contracts are presented net of related costs. For the three months ended September 30, 2019, gross revenues and gross cost of revenues related to these contracts amounted to approximately $9.1 million and $8.5 million, respectively. There was no such transaction for the three months ended September 30, 2020.

Total assets as of:

	September 30,		June 30,
	2020		2020
Shipping Agency and Management Services	$	3,153,654	$	2,531,074
Freight Logistic Services		8,473,180		3,176,165
Container Trucking Services		21,567		30,863
Total Assets	$	11,648,401	$	5,738,102

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

Disaggregated information of revenues by geographic locations are as follows:

	September 30,		September 30,
	2020		2019
PRC	$	929,954	$	1,242,142
U.S.		206,845		544,084
Total revenues	$	1,136,799	$	1,786,226