XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Unaudited Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (18,055,480) $ (3,935,055)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,033,752 1,812,893
Provision for losses on accounts receivable 16,970,555 9,329,683
Inventories impairment 3,969,293 1,691,679
Changes in operating assets    
Digital assets 175,585
Accounts receivable (15,259,021) (14,159,591)
Amount due from related parties 27,787 (2,696)
Other current assets 199,768 (9,295,056)
Inventories 6,312,446 (4,593,619)
Advances to suppliers (6,824,502) 12,028,741
Other assets 1,404,244 1,455,556
Deferred tax assets (10,828)
Changes in operating liabilities    
Accounts payable (199,488) 276,584
Customer deposits (335,612) (673,151)
Amount due to related parties (1,003) (3,751)
Tax payables (153,879) 7,826
Accrued expenses and other payables 2,430,107 1,328,059
Interest payable (739,631)
Net cash used in operating activities (7,316,276) (5,471,529)
Cash flows from investing activities    
Purchase of plant, property, and equipment (1,651,010) (309,514)
Investment (2,450,000)
Sales of discontinued operations 901,109
Net cash (used in) provided by investing activities (4,101,010) 591,595
Cash flows from financing activities    
Proceeds from the sale of common stock 16,757,130
Proceeds from loans 2,778,662 2,884,076
Repayment of loans (1,639,410) (58,200)
Advance from related party 191,000 320,000
Net cash provided by financing activities 1,330,251 19,903,006
Effect of exchange rate change on cash and cash equivalents 540,604 (1,032,771)
Net (decrease) increase in cash and cash equivalents (9,546,431) 13,990,301
Cash and cash equivalents, beginning balance 71,142,188 57,770,303
Cash and cash equivalents, ending balance 61,595,756 71,760,603
Supplement disclosure of cash flow information    
Interest expense paid 216,828 216,391
Income taxes paid $ 193,833 $ 330,861