v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net loss $ (315,432) $ (6,961,144)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 18,290 8,659
Amortization 325
Operating lease expense 23,373 19,705
Stock compensation expense 6,739,128
Changes in operating assets and liabilities:    
Other receivables 15,620 (34,668)
Prepayments 18,864 (41,552)
Inventories 1,035
Due from related parties (34,390) 183,390
Accounts payable (25,457) (52,016)
Deposits received 73,581 85,910
Accrued expenses (29,680) (13,103)
Due to related parties 28,899 50,848
Security deposits 156,605
Other payables 225,101 (95,136)
Payment of operating lease liabilities (16,069) (6,182)
Other current liabilities 509 1,158
Net cash provided by (used in) operating activities 141,174 (115,003)
Cash Flows from Investing Activities    
Purchase of property, plant and equipment (49,447) (107,027)
Purchase of intangible asset (5,843)
Net cash used in investing activities (55,290) (107,027)
Cash Flows from Financing Activities    
Shares issued for cash 30,909
Proceeds from short-term borrowing from third party 37,981
Net cash provided by financing activities 37,981 30,909
Effect of exchange rate fluctuation on cash and cash equivalents (23,768) (379)
Net increase (decrease) in cash and cash equivalents 100,097 (191,500)
Cash and cash equivalents, beginning of period 356,672 273,116
Cash and cash equivalents, end of period 456,769 81,616
Supplemental Non-Cash Investing and Financing Activities    
Share issuance for lease payment 106,680
Share issuance in exchange for equipment 15,240
Right-of-use assets obtained in exchange for new operating lease liabilities 70,914
Supplemental disclosure of cash flow information    
Cash paid for income taxes 11,355
Cash paid for interest expense