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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (7,850,097) $ (18,055,480)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 1,883,391 2,033,752
Provision for losses on accounts receivable 7,122,447 16,970,555
Gain (Loss) on disposal of property, plant and equipment 67,750
Inventories impairment 2,248,187 3,969,293
Changes in operating assets    
Digital assets 53,693 175,585
Accounts receivable (13,056,367) (15,259,021)
Amount due from related parties (6,385) 27,787
Other current assets (2,850,360) 199,768
Inventories 2,908,106 6,312,446
Advances to suppliers (3,335,930) (6,824,502)
Other assets 1,401,758 1,404,244
Deferred tax assets (49,527) (10,828)
Changes in operating liabilities    
Accounts payable (142,410) (199,488)
Customer deposits 2,498,889 (335,612)
Amount due to related parties (1,003)
Tax payables (78,304) (153,879)
Accrued expenses and other payables 1,844,050 2,430,107
Interest payable 1,141
Net cash used in operating activities (7,339,968) (7,316,276)
Cash flows from investing activities    
Purchase of plant, property, and equipment (245,364) (1,651,010)
Long-term equity investment (5,497,981) (2,450,000)
Net cash used in investing activities (5,743,345) (4,101,010)
Cash flows from financing activities    
Proceeds from loans 7,077,439 2,778,662
Repayment of loans (3,845,409) (1,639,410)
Other payable 99,117
Advance from related party 310,000 191,000
Repurchases of common stock (398,526)
Net cash provided by financing activities 3,242,621 1,330,251
Effect of exchange rate change on cash and cash equivalents (139,166) 540,604
Net decrease in cash and cash equivalents (9,979,858) (9,546,431)
Cash and cash equivalents, beginning balance 58,772,587 71,142,188
Cash and cash equivalents, ending balance 48,792,729 61,595,756
Supplement disclosure of cash flow information    
Interest expense paid 346,833 216,828
Income taxes paid $ 213,135 $ 193,833