v3.22.2.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net (loss) income $ (2,046,030) $ 2,978,948
operating activities:    
Depreciation and amortization 2,733,455 1,030,021
Inventory write-offs 1,044,607 375,000
Gain on settlement of cancelled lease 0 (387,860)
Gain on change in deferred tax allowance (1,061,238) (1,282,815)
Amortization of beneficial conversion feature on convertible notes   342,813
Shares issued for services 0 127,500
Bad debt expense 131,968 78,185
Gain on sale of equipment (5,500) (8,708)
Gain on forgiveness of SBA PPP loan (300,995) (403,277)
Stock based compensation 3,331,586 611,432
Changes in assets and liabilities, net of acquired amounts    
Accounts receivable (17,312) (1,138,228)
Inventory (2,447,038) (846,659)
Prepaid expenses and other assets 217,824 (313,206)
Accounts payable and accrued liabilities (430,506) 1,966,806
Accrued liabilities related to acquisition 0 (90,876)
Deferred revenue (629,153) (99,770)
Net cash provided by operating activities 521,872 2,939,306
Cash flows from investing activities    
Acquisition of Infusionz, Inc., net of cash acquired 0 62,122
Acquisition of VitaMedica, Inc., net of cash acquired (2,574,589) 0
Acquisition of Interactive Offers, Inc., net of cash acquired (1,854,193) 0
Acquisition of Cygnet, Inc., net of cash acquired (1,028,763) 0
Proceeds from sale of property and equipment 6,000 79,000
Acquisition of property and equipment (6,154,476) (1,422,129)
Net cash used in investing activities (11,606,021) (1,281,007)
Cash flows from financing activities    
Proceeds from issuance of common stock 0 10,950,315
Stock repurchase program (1,975,888) 0
Proceeds from issuance of preferred stock 0 50,000
Proceeds from issuance of related party note payable 0 750,000
Repayment of related party note payable 0 (750,000)
Payment of note payable (1,002,874) (12,000)
Proceeds from issuance of notes payable 6,678,506 1,000,080
Net cash provided by financing activities 3,699,744 11,988,395
Net (decrease) increase in cash (7,384,405) 13,646,694
Cash, beginning of period 14,534,211 887,517
Cash, end of period 7,149,806 14,534,211
Supplemental cash flow disclosures    
Interest paid 64,460 0
Income tax paid 656,000 0
Issuance of common stock for acquisition of Infusionz 1,764,876 650,255
Issuance of common stock for conversion of notes payable and accrued interest 482,000 3,085,273
Repayment of Infusionz LLC debt to Upexi, Inc. 0 72,000
Liabilities assumed from acquisition of Infusionz 0 (680,480)
Liabilities assumed from acquisition of VitaMedica (309,574)  
Issuance of stock for acquisition of Interactive 2,733,628  
Issuance of stock for acquisition of Cygnet 2,965,756  
Liabilities assumed from acquisition of Cygnet 9,472,438  
Stock issued for construction services $ 140,700 $ 0