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Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Jun. 30, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 4,593,634 $ 1,845,232
Accounts receivable, net 163,169
Inventories 400,543 216,069
Other receivables and other current assets 613,125 8,780
Other receivable, a related party 12,379
Prepayments 248,551 203,020
Total current assets 6,031,401 2,273,101
NON-CURRENT ASSETS    
Property and equipment, net 279,600 337,645
Operating lease right-of-use assets 61,377
Deferred offering costs 93,536
Total non-current assets 340,977 431,181
TOTAL ASSETS 6,372,378 2,704,282
CURRENT LIABILITIES    
Related party loan, current portion 5,323 4,505
Insurance loan 160,292
Convertible notes payable, net of unamortized discounts of $358,284 and $717,260 as of June 30, 2023 and 2022, respectively 4,791,716 10,954,042
Convertible notes payable, related parties 2,437,574
Loans from third parties 1,417,647
Accounts payable 42,853 25,397
Accounts payable, related parties 14,326
Customer deposits 161,475 73,317
Contract liabilities 157,080 56,757
Other payables and accrued liabilities 723,396 1,161,860
Other payables, related parties 1,660
Amount due to related parties 320,960 2,060,088
Operating lease liabilities 40,274  
Income tax payables 67,546 16,445
Total current liabilities 6,472,575 18,221,958
NON-CURRENT LIABILITIES    
Operating lease liabilities, non-current 22,036
Related party loan, non-current portion 8,099 13,883
Senior note 65,000
Total non-current liabilities 30,135 78,883
TOTAL LIABILITIES 6,502,710 18,300,841
COMMITMENTS AND CONTINGENCIES (Note 15)
Common stock, par value $0.00001; 170,000,000 shares authorized, 17,901,353 and 10,545,251 shares issued and outstanding as of June 30, 2023 and 2022, respectively 180 105
Additional paid-in capital 31,485,556 4,020,552
Accumulated deficits (31,443,451) (19,715,740)
Accumulated other comprehensive (loss) income (172,617) 98,524
TOTAL STOCKHOLDERS’ DEFICIENCY (130,332) (15,596,559)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIENCY $ 6,372,378 $ 2,704,282