XML 27 R7.htm IDEA: XBRL DOCUMENT v3.25.3
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net loss $ (15,602,160) $ (28,405,315)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 2,444,392 2,721,154
Provision for losses on accounts receivable 8,755,672 17,739,516
Gain (Loss) on disposal of property, plant, and equipment 67,685
Inventories impairment 2,347,291 13,539,221
Fixed assets impairment 1,817,991
Change in fair value of Bitcoin 2,701
Changes in operating assets    
Digital assets 53,693 153,948
Accounts receivable (11,339,277) (17,813,409)
Amount due from related parties 27,560
Other current assets (7,965,284) 169,821
Inventories (930,859) (4,926,296)
Advances to suppliers (76,840) 2,216,094
Other assets 13,211,004 1,831,922
Deferred tax assets (49,835) (410,651)
Changes in operating liabilities    
Accounts payable 30,257 (411,430)
Customer deposits (482,922) (546,035)
Amount due to related parties (1,003)
Tax payables (216,967) (296,952)
Accrued expenses and other payables 7,190,305 2,718,381
Interest payable 2,623
Net cash used in operating activities (2,561,222) (9,872,781)
Cash Flows from Investing Activities    
Purchase of plant, property, and equipment (256,641) (1,662,763)
Change in construction in process 9,860
Long-term equity investment (5,497,981) (4,450,000)
Net cash used in investing activities (5,754,622) (6,102,903)
Cash Flows from Financing Activities    
Proceeds from loans 11,756,720 8,471,483
Repayment of loans (8,631,763) (5,388,419)
Other payables 99,117
Advance from related party 359,926 191,000
Repurchases of common stock (398,526)
Net cash provided by financing activities 3,185,474 3,274,064
Effect of exchange rate change on cash and cash equivalents (1,122,799) 332,020
Net decrease in cash and cash equivalents (6,253,169) (12,369,600)
Cash and cash equivalents, beginning balance 58,772,587 71,142,188
Cash and cash equivalents, ending balance 52,519,418 58,772,587
Supplement disclosure of cash flow information    
Interest expense paid 468,000 292,186
Income taxes paid 212,932 426,079
Supplement Non-Cash Activities    
Common stock issued to repay accrued expense 2,736,680
Nonmonetary sales and purchases $ 30,124,309 $ 34,074,750