Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2023

Restricted Net Assets [Abstract]

Schedule of Parent Company Condensed Balance Sheets

Condensed Balance Sheets

	As of June 30,
	2023			2022
ASSETS
Current Assets:
Cash and cash equivalents	$	49,598		$	52,485
Other current assets		169,071			169,071
Total Current Assets		218,668			221,555
Long-term equity investment		139,569,715			146,457,664
Total long-term assets		139,569,715			146,457,664
Total Assets	$	139,788,383		$	146,679,219
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		4,445,449			4,105,449
Other payables and accrued expenses		9,760,556			7,588,486
Total Current Liabilities		14,420,526			11,908,455
Stockholders’ Equity
Common stock, $.001 par value, 115,197,165 shares authorized, 13,380,914 and 12,141,467 shares issued and outstanding as of June 30, 2023 and June 30, 2022, respectively		13,381			12,141
Additional paid in capital		242,090,576			224,676,686
Accumulated other comprehensive (loss)		(26,950,493	)		(13,414,442	)
Retained earnings		(89,785,607	)		(76,503,621	)
Total Stockholders’ Equity		125,367,857			134,770,764
Total Liabilities and Stockholders’ Equity	$	139,788,383		$	146,679,219

Schedule of Parent Company Condensed Statements of Operations

Condensed Statements of Operations

	Year ended June 30,
	2023			2022
Revenue	$	-		$	-
General and administrative expenses		3,173,034			679,326
Interest income		1,076			4,513
Provision for tax		-			(1,291,828	)
Equity investment in subsidiaries		(10,110,028	)		(98,981,348	)
Net income	$	(13,281,986	)	$	(98,364,333	)

Schedule of Parent Company Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended June 30,
	2023			2022
Net cash used in operating activities	$	(17,100,265	)	$	(54,476,955	)
Net cash provided by investing activities		2,001,000			-
Net cash provided by financing activities		17,097,130			54,454,275
Cash and cash equivalents, beginning balance		52,484			75,165
Cash and cash equivalents, ending balance	$	2,050,350		$	52,484