v3.22.2.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Jun. 30, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 872,313 $ 174,189
Accounts receivable 2,507,981 3,191,711
Other receivables 6,819,050 8,900
Prepayments 17,666,664 4,267,827
Total current assets 27,866,008 7,642,627
NON-CURRENT ASSETS    
Prepayments 52,000,000
Property, plant and equipment, net 30,228 9,160,214
Intangible assets, net 25,566,958 12,272,326
Total non-current assets 25,597,186 73,432,540
Total assets 53,463,194 81,075,167
CURRENT LIABILITIES:    
Accounts payable 3,770,945
Other payables and accrued liabilities 885,601 517,134
Other payables - related parties 362,884 10,711
Deferred revenue 3,596,821
Total current liabilities 5,019,430 4,124,666
Total liabilities 5,019,430 4,124,666
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:    
Ordinary shares, $0.04 par value, 800,000,000 shares authorized, 4,819,700 and 2,758,920 shares issued and outstanding as of June 30, 2022 and 2021, respectively [1] 192,788 110,357
Additional paid-in-capital 195,654,317 147,684,772
Deferred stock compensation (32,978) (682,383)
Deficit (147,370,363) (70,162,245)
Total shareholders’ equity 48,443,764 76,950,501
Total liabilities and shareholders’ equity $ 53,463,194 $ 81,075,167
[1] Giving retroactive effect to the 40-for-1 reverse share split on September 26, 2022.