Other Receivables, Net (Tables)

6 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of other receivables

	December 31,			June 30,
	2020			2020
Advances to customers*	$	11,375,759		$	10,004,893
Employee business advances		4,241			51,334
Total		11,380,000			10,056,227
Less: allowances for doubtful accounts		(10,796,084	)		(10,005,193	)
Other receivables, net	$	583,916		$	51,034

* As of December 31, 2020 and June 30, 2020, the Company entered into certain contracts with customers (state-owned entities) where the Company’s services included freight costs and cost of commodities to be shipped to customers’ designated locations. The Company prepaid the costs of commodities and recognized as advance payments on behalf of its customers. These advance payments on behalf of the customers will be repaid to the Company when either the contract terms are expired or the contracts are terminated by the Company. As aforementioned customers were negatively impacted by the pandemic and required additional time to execute existing contracts, they required additional time to pay. Due to significant uncertainty on whether the delayed contracts will be executed timely. As such, the Company had provided an allowance due to contract delay and recorded allowances of approximately $11.0 million. On December 31, 2020, the Company entered another contract to advance $580,000 as deposit on behalf of customer and it will be repaid to the Company when the contract is fulfilled.

Schedule of movement of allowance for doubtful accounts

	December 31, 2020			June 30, 2020
Beginning balance	$	10,005,193		$	-
Provision for doubtful accounts, net of recovery		(18,500	)		10,055,203
Less: write-off		(11,673	)		(1,763	)
Exchange rate effect		821,064			(48,247	)
Ending balance	$	10,796,084		$	10,005,193