Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)

v3.22.2.2
SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
SUMMARY OF IDENTIFIABLE ASSETS

The following table presents a summary of identifiable assets as of June 30, 2022 and 2021:

 SUMMARY OF IDENTIFIABLE ASSETS

      1       2  
    As of     As of  
    June 30, 2022     June 30, 2021  
Identifiable assets:                
Corporate headquarters   $ 844,178     $ 2,067,474  
North America     6,442,219       6,073,616  
Europe     8,727,530       10,363,611  
Asia - Pacific     56,594,705       68,101,560  
Consolidated   $ 72,608,632     $ 86,606,261  
SUMMARY OF INVESTMENT UNDER EQUITY METHOD

The following table presents a summary of investments under the equity method as of June 30, 2022 and 2021:

 SUMMARY OF INVESTMENT UNDER EQUITY METHOD

      1       2  
    As of     As of  
    June 30, 2022     June 30, 2021  
Investment in associates under equity method:                
Corporate headquarters   $ -     $ 396,403  
Asia - Pacific     1,059,368       2,759,449  
Consolidated   $ 1,059,368     $ 3,155,852  
SUMMARY OF OPERATING INFORMATION

The following table presents a summary of operating information for the years ended June 30:

 SUMMARY OF OPERATING INFORMATION

      1       2  
    For the Years  
    Ended June 30,  
    2022     2021  
Revenues from unaffiliated customers:                
North America   $ 4,288,008     $ 3,724,547  
Europe     10,428,203       11,283,499  
Asia - Pacific     42,531,768       39,863,794  
Revenues     57,247,979       54,871,840  
Revenue from affiliated customers                
Asia - Pacific     -       48,775  
Revenues     -       48,775  
Consolidated   $ 57,247,979     $ 54,920,615  
                 
Intercompany revenue                
Europe   $ 453,242     $ 549,031  
Asia - Pacific     9,612,755       11,678,429  
Eliminated   $ 10,065,997     $ 12,227,460  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ (1,027,044 )   $ 1,992,218  
North America     (116,199 )     (161,198 )
Europe     (1,407,252 )     (74,146 )
Asia - Pacific     3,651,298       504,758  
Consolidated   $ 1,100,803     $ 2,261,632  
                 
Depreciation and amortization:                
North America   $ 1,995     $ 4,310  
Europe     396,519       465,825  
Asia - Pacific     3,413,759       3,486,179  
Consolidated   $ 3,812,273     $ 3,956,314  
                 
Interest expense:                
Corporate headquarters   $ 32,915     $ 17,418  
Europe     10,335       11,426  
Asia - Pacific     326,551       365,445  
Consolidated   $ 369,801     $ 394,289  
                 
Income tax expense:                
Corporate headquarters   $ 800     $ 69,350  
North America     2,000       44,604  
Europe     15,862       190,730  
Asia - Pacific     970,276       721,933  
Consolidated   $ 988,938     $ 1,026,617  
SUMMARY OF CAPITAL EXPENDITURES

The following table presents a summary of capital expenditures for the years ended June 30:

 SUMMARY OF CAPITAL EXPENDITURES

      1       2  
    For the Years  
    Ended June 30,  
    2022     2021  
Capital expenditures:                
North America   $ -     $ 1,521  
Europe     151,378       441,672  
Asia - Pacific     2,457,827       2,108,090  
Consolidated   $ 2,609,205     $ 2,551,283  
SCHEDULE OF GEOGRAPHIC INFORMATION

Disclosed in the table below is geographic information for each country that comprised greater than five percent of total revenues for the years ended June 30, 2022 and 2021.

 SCHEDULE OF GEOGRAPHIC INFORMATION

    June 30, 2022   June 30, 2021  
    Revenue     Long-lived Assets     Revenue     Long-lived Assets  
                         
China   $ 20,533,170     $ 256,468     $ 22,716,598     $ 509,935  
Thailand     2,781,867       1,240,082       4,518,145       2,033,628  
USA     3,161,365       4,852,458       2,691,811       5,440,078  
UK     10,428,203       4,986,192       11,283,500       5,217,594  
Pakistan & India     3,751,603       11,836,992       1,478,071       17,618,325  
Australia & New Zealand     6,545,872       8,304       4,771,216       207,927  
Mexico     1,126,643       -       1,032,736       -  
Indonesia     2,957,354       -       3,221,342       -  
South Africa     2,057,608       -       924,316       -  
Other Countries     3,904,294       -       2,282,880       -  
Total   $ 57,247,979     $ 23,180,496     $ 54,920,615     $ 31,027,487  
SCHEDULE OF RECONCILIATION OF REVENUE

Disclosed in the table below is the geographic information of total revenues by country for the years ended June 30, 2022 and 2021.

 SCHEDULE OF RECONCILIATION OF REVENUE

    Revenues 2022  
    Total     China     Thailand     USA     UK     Pakistan
& India		     Australia
& New Zealand		     Mexico     Indonesia     South Africa     Other Countries  
                                                                   
North America:   $ 4,288,008     $ -     $ -     $ 3,161,365     $ -     $ -     $ -     $ 1,126,643     $ -     $ -     $ -  
Europe:     10,428,203       -       -       -       10,428,203       -       -       -       -       -       -  
Asia-Pacific:     42,531,768       20,533,170       2,781,867       -       -       3,751,603       6,545,872       -       2,957,354       2,057,608       3,904,294  
                                                                                         
Total   $ 57,247,979     $ 20,533,170     $ 2,781,867     $ 3,161,365     $ 10,428,203     $ 3,751,603     $ 6,545,872     $ 1,126,643     $ 2,957,354     $ 2,057,608     $ 3,904,294  

 

    Revenues 2021  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     Other Countries  
                                                                                         
North America:   $ 3,724,547     $ -     $ -     $ 2,691,811     $ -     $ -     $ -     $ 1,032,736     $ -     $ -     $ -  
Europe:     11,283,500       -       -       -       11,283,500       -       -       -       -       -       -  
Asia-Pacific:     39,912,568       22,716,598       4,518,145       -       -       1,478,071       4,771,216       -       3,221,342       924,316       2,282,880  
                                                                                         
Total   $ 54,920,615     $ 22,716,598     $ 4,518,145     $ 2,691,811     $ 11,283,500     $ 1,478,071     $ 4,771,216     $ 1,032,736     $ 3,221,342     $ 924,316     $ 2,282,880