Income Taxes (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2020 |
|
Income Taxes (Details) [Line Items] | |||
Federal statutory income tax rate | 21.00% | 21.00% | 21.00% |
State | 5.60% | 5.60% | 5.60% |
Effective tax rate | 0.00% | 0.00% | 0.00% |
Percentage of future taxable income for unlimited years | 80.00% | ||
Deferred tax asset allowance, percentage | (26.60%) | (26.60%) | (26.60%) |
Deferred tax assets | $ 442,000 | $ 279,000 | |
Increased decreased in valuation allowance | $ 11,716,701 | 373,784 | |
Maximum [Member] | |||
Income Taxes (Details) [Line Items] | |||
Increased decreased in valuation allowance | 11,342,917 | $ 239,269 | |
Minimum [Member] | |||
Income Taxes (Details) [Line Items] | |||
Increased decreased in valuation allowance | 373,784 | $ 134,515 | |
Hong Kong [Member] | |||
Income Taxes (Details) [Line Items] | |||
Federal statutory income tax rate | 16.50% | ||
Net operating loss carryforward | $ 300,000 | 600,000 | |
Business Combination [Member] | |||
Income Taxes (Details) [Line Items] | |||
Business combination, description | The net operating loss carry forwards are available to reduce future years’ taxable income for unlimited years. Management believes that the realization of the benefits from these losses appears uncertain due to the Company’s operating history and continued losses in Hong Kong. If the Company is unable to generate taxable income in its Hong Kong operations, it is more likely than not that it will not have sufficient income to utilize its deferred tax assets. Accordingly, the Company has provided a 100% valuation allowance on its net deferred tax assets of approximately $11.3 million and $95,000 related to its Hong Kong operations as of June 30, 2022 and 2021, respectively. | ||
CACM and Baytao [Member] | |||
Income Taxes (Details) [Line Items] | |||
Federal statutory income tax rate | 21.00% | ||
State | 7.10% | ||
Effective tax rate | 26.60% | ||
Net operating loss carryforward | $ 1,500,000 | $ 900,000 | |
Deferred tax asset allowance, percentage | 100.00% |