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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net loss $ (2,352,361) $ (4,552,967)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 48,871 113,972
Non-cash lease expense 355,768 183,575
Allowance for credit losses, net 370,479 65,915
Impairment loss of cryptocurrencies 72,179
Loss on disposal of property and equipment 133,769
Loss (gain) on disposal of subsidiaries 1,030 (400,479)
Reversal of impairment for right-of-use assets (354,108)
Interest expenses related to convertible notes 21,917
Changes in assets and liabilities    
Accounts receivable (92,631) (30,075)
Other receivables (575,823) 151,703
Advances to suppliers - third parties 257,732 (45,617)
Prepaid expenses and other current assets 231,707 6,861
Due to related parties 162,907
Other long-term assets – deposits 149,411 3,769
Deferred revenue (567) (1,660)
Accounts payable 338,659 130,577
Taxes payable 1,533 (121,838)
Lease liabilities (211,951) (145,851)
Accrued expenses and other current liabilities 1,188,209 13,333
Net cash used in operating activities (347,366) (4,534,686)
Investing Activities    
Acquisition of property and equipment (589)
Repayment from related parties 76,666
Net cash provided by investing activities 76,077
Financing Activities    
Proceeds from issuance of common stock 1,141,000 9,860,000
Repayment of convertible notes (5,000,000)
Payment of accrued interest related to convertible notes (403,424)
Net cash provided by financing activities 1,141,000 4,456,576
Net increase (decrease) in cash and restricted cash 793,634 (2,033)
Cash at beginning of period 17,736,059 17,390,156
Effect of exchange rate fluctuations on cash and restricted cash (607,542) 341,441
Cash and restricted cash at end of period 17,922,151 17,729,564
Representing:    
Cash, end of period 14,873,924 14,672,886
Restricted cash, end of period 3,048,227 3,056,678
Total cash and restricted cash, end of period 17,922,151 17,729,564
Non-cash transactions of operating and investing activities