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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net loss $ (1,004,335) $ (2,414,996)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17,919 38,127
Non-cash lease expense 41,575 97,437
Provision for doubtful accounts, net 48,618
Impairment loss of cryptocurrencies 72,179
Interest expenses related to convertible note 21,917
Changes in assets and liabilities    
Accounts receivable (355,203) 48,656
Other receivables (25,872) 142,854
Advances to suppliers - third parties 73,735
Prepaid expenses and other current assets 1,380 1,330
Other long-term assets - deposits 103,019 49,999
Deferred revenue 330 (1,849)
Accounts payable 585,260 122,777
Taxes payable 24,866 (130,215)
Lease liabilities (64,250) (128,825)
Accrued expenses and other current liabilities 666,166 (41,712)
Net cash used in operating activities (9,145) (1,999,968)
Investing Activities    
Repayment from related parties 49,969
Net cash provided by investing activities 49,969
Financing Activities    
Repayment of convertible notes (5,000,000)
Repayment of interest expenses related to convertible notes (403,424)
Net cash used in financing activities (5,403,424)
Net decrease in cash (9,145) (7,353,423)
Cash at beginning of period 17,736,059 17,390,156
Effect of exchange rate fluctuations on cash 13,994 17,919
Cash at end of period 17,740,908 10,054,652
Non-cash transactions of operating and investing activities    
Initial recognition of right-of-use assets and lease liabilities