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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net loss $ (5,360,965) $ (6,314,972)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,252,756
Depreciation and amortization 258,176 320,272
Non-cash lease expense 121,198 113,985
Provision for doubtful accounts, net of recovery 1,254,274 4,289,170
Impairment loss of fixed assets and intangible asset 327,632
Gain from loan forgiveness (124,570)
Changes in assets and liabilities    
Cryptocurrencies (153,205)
Notes receivable 386,233
Accounts receivable (95,961) 1,051,299
Other receivables (938,250) (5,882,569)
Advances to suppliers - third parties (555,146) 11,820
Prepaid expenses and other current assets (132,457) 165,939
Other long-term assets - deposits (194,871) 89,274
Due from related parties 100,000 413,408
Deferred revenue 402,647
Advances from customers (1,496)
Accounts payable 172,386 72,772
Taxes payable 156,822 116,520
Lease liabilities (133,802) (118,256)
Accrued expenses and other current liabilities (931,353) 65,094
Net cash used in operating activities (6,155,077) (3,641,119)
Investing Activities    
Acquisition of property and equipment (922,438) (6,979)
Net cash used in investing activities (922,438) (6,979)
Financing Activities    
Proceeds from issuance of preferred stock 1,427,600
Proceeds from issuance of common stock 52,772,977 885,946
Net cash provided by financing activities 54,200,577 885,946
Effect of exchange rate fluctuations on cash 530,033 (237,386)
Net increase (decrease) in cash 47,653,095 (2,999,538)
Cash at the beginning of period 131,182 3,142,650
Cash at the end of period 47,784,277 143,112
Supplemental information    
Income taxes paid 38,557
Non-cash transactions of investing and financing activities    
Transfer of prepayment to intangible asset 218,678
Initial recognition of right-of-use assets and lease liabilities $ 452,119