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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Operating Activities        
Net loss $ (337,330) $ (1,168,543) $ (1,341,665) $ (3,583,539)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization     36,423 76,051
Non-cash lease expense     98,227 81,882
Provision for expected credit losses, net 6,992 55,610
Impairment loss of cryptocurrencies 72,179
Loss on disposal of fixed assets     1,042
Loss (Gain) on disposal of subsidiaries 1,030 (62,384) 1,030 (62,384)
Gain on disposal of ROU     (354,108)
Interest expenses related to convertible notes     21,917
Changes in assets and liabilities        
Accounts receivable     (93,944) (53,622)
Other receivables     (33,897) 97,982
Advances to suppliers - third parties     (13,870) 110,526
Prepaid expenses and other current assets     1,840 3,197
Other long-term assets – deposits     113,102 (2,496,197)
Deferred revenue     266 (1,602)
Refund payable    
Accounts payable     322,881 98,909
Taxes payable     102,986 (122,175)
Lease liabilities     45,590 (154,259)
Accrued expenses and other current liabilities     1,511,975 (32,232)
Net cash provided by (used in) operating activities     397,878 (5,887,757)
Investing Activities        
Acquisition of property and equipment     (589)
Repayment from related parties     (25,362)
Net cash used in investing activities     (25,951)
Financing Activities        
Repayment of convertible notes     (5,000,000)
Payment of accrued interest related to convertible notes     (403,424)
Net cash used in financing activities     (5,403,424)
Net increase (decrease) in cash and restricted cash     397,878 (11,317,132)
Cash at beginning of period     17,736,059 17,390,156
Effect of exchange rate fluctuations on cash and restricted cash     131,504 81,412
Cash and restricted cash at end of period 18,265,441 6,154,436 18,265,441 6,154,436
Representing:        
Cash, end of period 15,248,528 3,154,436 15,248,528 3,154,436
Restricted cash, end of period 3,016,913 3,000,000 3,016,913 3,000,000
Total cash and restricted cash, end of period $ 18,265,441 $ 6,154,436 18,265,441 6,154,436
Non-cash transactions of operating and investing activities