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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net loss $ (4,552,967) $ (18,739,820)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 329,777
Depreciation and amortization 113,972 122,699
Non-cash lease expense 183,575 259,231 [1]
Provision (recovery) for doubtful accounts, net 65,915 (47,805)
Gain on disposal of ROU   (178,408)
Impairment loss of cryptocurrencies 72,179 14,801
Gain on disposal of fixed assets (6,481)
Impairment loss of investment   128,370
Investment (gain) loss from unconsolidated subsidiary (400,479) 34,459
Interest expenses related to convertible notes 21,917
Changes in assets and liabilities    
Accounts receivable (30,075) (70,173) [1]
Other receivables 151,703 102,996 [1]
Advances to suppliers - third parties (45,617) (65,863) [1]
Advances to suppliers - related party 6,153,546
Prepaid expenses and other current assets 6,861 (89,113)
Other long-term assets - deposits 3,769 (1,058) [1]
Deferred revenue (1,660) (6,750,100) [1]
Refund payable (13,000,000)
Accounts payable 130,577 (60,557) [1]
Taxes payable (121,838) 78,751 [1]
Lease liabilities (145,851) (442,296) [1]
Accrued expenses and other current liabilities 13,333 (101,900)
Net cash used in operating activities (4,534,686) (32,328,944) [1]
Investing Activities    
Acquisition of property and equipment (589) (154,500)
Proceeds from disposal of property and equipment 90,000
Loan receivable-related parties 587,612
Advance to related parties [1] (444,019)
Repayment from related parties 76,666 671,744 [1]
Net cash provided by investing activities 76,077 750,837 [1]
Financing Activities    
Proceeds from issuance of common stock 9,860,000
Repayment of convertible notes (5,000,000)
Payment of legal settlement to cancel shares (2,125,420)
Payment of accrued interest related to convertible notes (403,424)
Net cash provided by (used in) financing activities 4,456,576 (2,125,420)
Net decrease in cash and restricted cash (2,033) (33,703,527) [1]
Cash at beginning of period 17,390,156 55,833,282
Effect of exchange rate fluctuations on cash and restricted cash 341,441 (520,054) [1]
Cash and restricted cash at end of period 17,729,564 21,609,701
Representing:    
Cash, end of period 14,672,886 21,609,701
Restricted cash, end of period 3,056,678
Total cash and restricted cash, end of period 17,729,564 21,609,701
Non-cash transactions of operating and investing activities
[1] Revised