Quarterly report pursuant to Section 13 or 15(d)

OPERATING SEGMENTS (Tables)

v3.22.0.1
OPERATING SEGMENTS (Tables)
 6 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SUMMARY OF IDENTIFIABLE ASSETS

The following table presents a summary of identifiable assets as of December 31, 2021 and June 30, 2021:

SUMMARY OF IDENTIFIABLE ASSETS

    As of     As of  
    December 31,
2021		     June 30,
2021		  
Identifiable assets:                
Corporate headquarters   $ 2,147,024     $ 2,067,474  
North America     5,978,111       6,073,616  
Europe     9,763,859       10,363,611  
Asia - Pacific     63,609,797       68,101,560  
Consolidated   $ 81,498,791     $ 86,606,261  
SUMMARY OF INVESTMENT UNDER EQUITY METHOD

The following table presents a summary of investment under equity method as of December 31, 2021 and June 30, 2021:

SUMMARY OF INVESTMENT UNDER EQUITY METHOD

    As of     As of  
    December 31,
2021		     June 30,
2021		  
Investment in associates under equity method:                
Corporate headquarters   $ 346,491     $ 396,403  
Asia - Pacific     2,575,176       2,759,449  
Consolidated   $ 2,921,667     $ 3,155,852  
SUMMARY OF OPERATING INFORMATION

The following table presents a summary of operating information for the three and six months ended December 31:

SUMMARY OF OPERATING INFORMATION

    For the Three Months     For the Six Months  
    Ended December 31,     Ended December 31,  
    2021     2020     2021     2020  
Revenues from unaffiliated customers:                                
North America   $ 1,060,379     $ 1,016,556     $ 1,990,613     $ 1,829,434  
Europe     2,122,094       2,726,206       5,394,993       5,878,097  
Asia - Pacific     12,290,489       9,378,698       21,508,117       18,061,307  
      15,472,962       13,121,460       28,893,723       25,768,838  
Revenue from affiliated customers                                
Asia - Pacific     -       -       -       -  
      -       -       -       -  
Consolidated   $ 15,472,962     $ 13,121,460     $ 28,893,723     $ 25,768,838  
                                 
Intercompany revenue                                
Europe   $ 116,479     $ 126,757     $ 243,677     $ 265,913  
Asia - Pacific     774,364       3,125,729       3,334,464       5,284,357  
Eliminated   $ 890,843     $ 3,252,486     $ 3,578,141     $ 5,550,270  
                                 
Net income (loss) after taxes and before non-controlling interest:                                
Corporate headquarters   $ 138,089     $ 1,173,146     $ 266,633     $ 2,340,941  
North America     (58,915 )     (47,019 )     (127,008 )     (328,816 )
Europe     (589,882 )     173,085       (398,439 )     776,101  
Asia - Pacific     2,949,256       (1,378,400 )     3,247,857       (1,743,937 )
Consolidated   $ 2,438,548     $ (79,188 )   $ 2,989,043     $ 1,044,289  
                                 
Depreciation and amortization:                                
North America   $ 527     $ 998     $ 1,093     $ 2,952  
Europe     100,646       108,929       199,494       216,937  
Asia - Pacific     840,559       825,394       1,721,151       1,644,471  
Consolidated   $ 941,732     $ 935,321     $ 1,921,738     $ 1,864,360  
                                 
Interest expense:                                
Corporate headquarters   $ 9,565     $ 4,897     $ 20,006     $ 10,931  
North America     -       726       -       1,935  
Europe     2,488       1,961       6,284       4,027  
Asia - Pacific     78,755       86,657       165,531       180,675  
Consolidated   $ 90,808     $ 94,241     $ 191,821     $ 197,568  
                                 
Income tax expense:                                
Corporate headquarters   $ -     $ -     $ 800     $ -  
North America     -       -       1,600       -  
Europe     9,524       92,359       9,524       204,037  
Asia - Pacific     191,982       153,075       357,209       305,691  
Consolidated   $ 201,506     $ 245,434     $ 369,133     $ 509,728  
SUMMARY OF CAPITAL EXPENDITURES

The following table presents a summary of capital expenditures for the six months ended December 31:

SUMMARY OF CAPITAL EXPENDITURES

    For the Six Months  
    Ended December 31,  
    2021     2020  
Capital expenditures:                
North America   $ -     $ 1,521  
Europe     89,451       301,233  
Asia - Pacific     684,502       947,141  
Consolidated   $ 773,953     $ 1,249,895