| Schedule of Condensed Consolidating Balance Sheets Information |
The following financial statement amounts and balances of the VIE were included in the accompanying CFS as of
September 30, 2023 and June 30, 2023, and for the three months ended September 30, 2023 and 2022, respectively.
| | |
September 30,
2023 | | |
June 30,
2023 | |
| Cash | |
$ | 198,224 | | |
$ | 13,717 | |
| Accounts receivable | |
| 388,101 | | |
| 255,725 | |
| Inventory | |
| 250,711 | | |
| 241,380 | |
| Other current assets | |
| 590,607 | | |
| 649,433 | |
| Total current assets | |
| 1,427,643 | | |
| 1,160,255 | |
| Property and equipment, net | |
| 32,620 | | |
| 42,886 | |
| Intangible asset, net | |
| 379,793 | | |
| 757,700 | |
| Right-of-use asset, net | |
| 52,864 | | |
| 60,348 | |
| Other non-current assets | |
| 55,712 | | |
| 55,358 | |
| Total non-current assets | |
| 520,989 | | |
| 916,292 | |
| Total assets | |
$ | 1,948,632 | | |
$ | 2,076,547 | |
| | |
| | | |
| | |
| Accounts payable | |
$ | 512,451 | | |
$ | 650,406 | |
| Accrued liabilities and other payables | |
| 650,978 | | |
| 1,480,947 | |
| Lease liability | |
| 30,798 | | |
| 39,223 | |
| Loans payable | |
| 2,375,747 | | |
| 594,906 | |
| Other current liabilities | |
| 830,579 | | |
| 1,639,410 | |
| Total current liabilities | |
| 4,400,553 | | |
| 4,404,892 | |
| Lease liability - noncurrent | |
| 15,557 | | |
| 26,449 | |
| Long term long payable | |
| 20,560 | | |
| 1,401,521 | |
| Total non-current liabilities | |
| 36,117 | | |
| 1,427,970 | |
| Total liabilities | |
$ | 4,436,670 | | |
$ | 5,832,862 | |
|
| Schedule of Condensed Consolidating Statements of Income Information |
| | |
For the
Three Months
Ended
September 30,
2023 | | |
For the
Three Months
Ended
September 30,
2022 | |
| Revenues | |
$ | 6,880,743 | | |
$ | 1,164,305 | |
| Gross profit | |
$ | 74,735 | | |
$ | 150,198 | |
| Net loss | |
$ | (419,473 | )* | |
$ | (757,146 | )** |
| * | exclude the gain from disposal of Zhangxun of $0.83 million. |
| ** | include the operation of Zhangxun |
|
| Schedule of Revenue Sources |
The following table shows the Company’s
revenue by revenue sources:
| | |
For the
Three Months
Ended
September 30,
2023 | | |
For the
Three Months
Ended
September 30,
2022 | |
| 5G Messaging | |
$ | 6,880,463 | | |
$ | - | |
| 5G messaging | |
| 6,880,463 | | |
| - | |
| Cloud platform construction cooperation project | |
| - | | |
| - | |
| Acoustic Intelligence Business | |
| 280 | | |
| - | |
| Ultrasonic Sound Air Disinfection Equipment | |
| 280 | | |
| - | |
| Smart City business | |
| - | | |
| - | |
| Smart community | |
| - | | |
| - | |
| | |
| | | |
| | |
| Total revenue | |
$ | 6,880,743 | | |
$ | - | |
|