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Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party - USD ($)
Mar. 31, 2022
Jun. 30, 2021
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]    
Due from related parties [1] $ 3,299,815
Less: allowance for doubtful accounts (2,488,509) (384,331)
Total 3,200,000 430,902
Tianjin Zhiyuan Investment Group Co., Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]    
Due from related parties [2] 384,331
Zhejiang Jinbang Fuel Energy Co., Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]    
Due from related parties [3] 438,886 430,902
Shanghai Baoyin Industrial Co., Ltd [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]    
Due from related parties [4] 1,379,808
LSM Trading Inc [Member]    
Related Party Balance and Transactions (Details) - Schedule of outstanding amounts due from related party [Line Items]    
Due from related parties [5] $ 570,000
[1] As of March 31, 2022, the Company entered into a project cooperation agreement with Rich Trading Co. Ltd USA (“Rich Trading”) for the trading of computer equipment. Rich Trading’s bank account was controlled by now-terminated members of the Company’s management and was, at the time, an undisclosed related party. According to the agreement, the Company was  to invest $4.5 million in the trading business operated by Rich Trading and the Company would  be entitled to 90% of profit generated by the trading business. As of March 31, 2022, the Company has advanced $3,299,815 for this project. As of the date of the report, $3,200,000 has been returned to the Company and the Company expects the remaining amount to be uncollectible and decided to provide allowance for doubtful accounts as of March 31, 2022.
[2] In June 2013, the Company signed a five-year global logistic service agreement with Tianjin Zhiyuan Investment Group Co., Ltd. (“Zhiyuan Investment Group”) and TEWOO Chemical& Light Industry Zhiyuan Trade Co., Ltd. (together with Zhiyuan Investment Group, “Zhiyuan”). Zhiyuan Investment Group is owned by Mr. Zhong Zhang, a former shareholder of the Company. In September 2013, the Company executed an inland transportation management service contract with the Zhiyuan Investment Group whereby it would provide certain advisory services and help control potential commodities loss during the transportation process. Starting in late 2020, Mr. Zhang started selling off his shares of the Company and does not own shares of the Company as of June 30, 2021 and no longer a related party. Management’s reassessed the collectability and decided to provide full allowance for doubtful accounts as of June 30, 2021. The Company wrote off the balance for the three and nine months ended March 31, 2022.
[3] The Company advanced $477,278 to Zhejiang Jinbang Fuel Energy Co., Ltd (“Zhejiang Jinbang”) which is owned by Mr. Wang Qinggang, CEO and legal representative of Trans Pacific Shanghai Ltd. and Zhejiang Jinbang returned $39,356 for the year ended June 30, 2021. The advance is non-interest bearing and due on demand. There has been no change in the balance other than changes as a result of changes in exchange rates. Management’s reassessed the collectability and decided to provide full allowance for doubtful accounts as of March 31, 2022.
[4] The Company advanced $1,619119 to Shanghai Baoyin Industrial Co., Ltd. which is 30% owned by Wang Qinggang, CEO and legal representative of Trans Pacific Shanghai for the nine months end March 31, 2022. Shanghai Baoyin Industrial Co., Ltd repaid $239,311. The advance is non-interest bearing and due on demand. Management’s reassessed the collectability and decided to provide full allowance for doubtful accounts as of March 31, 2022.
[5] The Company advanced $570,000 to LSM Trading Ltd, which is 40% owned by the Company for the nine months ended March 31, 2022. The advance is non-interest bearing and due on demand. Management’s reassessed the collectability and decided to provide full allowance for doubtful accounts as of March 31, 2022.