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Commitments and contingencies (Tables)
12 Months Ended
Jun. 30, 2020
Loss Contingencies [Line Items]  
Schedule of lease obligations

The five-year maturity of the Company’s lease obligations is presented below:

 

 

 

 

 

Twelve Months Ending June 30, 

    

Operating  Lease Amount

2021

 

$

216,033

2022

 

 

231,738

2023

 

 

240,099

2024

 

 

247,634

2025

 

 

148,825

Thereafter

 

 

328,749

Total lease payments

 

 

1,413,078

Less: Interest

 

 

(248,191)

Present value of lease liabilities

 

$

1,164,887

Less: present value of lease liabilities - discontinued operations

 

 

(534,633)

Present value of lease liabilities - continuing operations

 

 

630,254

 

Schedule of accrued potential losses

As of June 30, 2020, the amount of potential losses the Company accrued for are summarized as follows:

 

 

 

 

 

Dispute matter

    

Claim amount

Leases

 

$

45,867

 

Schedule of not accrued potential losses

As of June 30, 2020, the amount of potential losses the Company did not accrue for are summarized as follows:

 

 

 

 

 

Dispute matter

    

Claim amount

Guarantees

 

$

248,302

 

Chongqin Penglin Food Co., Ltd  
Loss Contingencies [Line Items]  
Schedule of Guarantees

 

 

 

 

 

 

 

 

Name of the party being guaranteed

    

Guaranteed amount

    

Guarantee expiration date

CQ Mingwen (borrower)

 

$

1,273,795

 

December 25, 2020