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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2019
Jun. 30, 2018
CURRENT ASSETS:    
Cash $ 194,488 $ 19,564
Accounts receivable, net 7,384,640 2,122,803
Deposits 570,204 362,549
Deferred offering costs 1,403,604 0
Advances to suppliers 22,862 2,518
Prepaid expenses and other receivables 96,499 29,985
Assets, Current 9,672,297 2,537,419
Inventories, net 332,542 291,509
Property and equipment, net 1,015,959 0
Deferred tax assets 78,222 64,581
TOTAL ASSETS 11,099,020 2,893,509
CURRENT LIABILITIES:    
Accounts payable 449,058 997
Deferred revenue 189,268 219,936
Taxes payable 2,726,821 1,616,184
Accrued expense and other payables 1,173,555 162,777
Due to related parties 567,346 25,541
TOTAL CURRENT LIABILITIES 5,106,048 2,025,435
TOTAL LIABILITIES 5,106,048 2,025,435
Commitments and contingencies
SHAREHOLDERS? EQUITY:    
Ordinary Shares, $0.00284 par value 50,000,000 shares authorized; 16,021,126.7606 and 17,605,633.8028 shares issued and outstanding as of June 30, 2019 and June 30, 2018, respectively * [1] 45,500 50,000
Additional paid-in capital 421,398 416,898
Statutory reserve 875,271 356,336
Accumulated other comprehensive income (loss) (54,021) 10,000
Retained earnings 4,704,824 34,840
TOTAL SHAREHOLDERS' EQUITY [2] 5,992,972 868,074
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 11,099,020 $ 2,893,509
[1] Retrospectively restated for effect of reverse split. Prior to the reverse split, the authorized share capital was US$50,000 and consisted of 50,000 ordinary shares of US$0.001 par value.
[2] Retrospectively restated for effect of reverse split.