Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)

v3.23.3
SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
SUMMARY OF IDENTIFIABLE ASSETS

The following table presents a summary of identifiable assets as of June 30, 2023 and 2022:

 

                 
    As of     As of  
    June 30, 2023     June 30, 2022  
Identifiable assets:                
Corporate headquarters   $ 878,899     $ 844,178  
North America     7,344,122       6,442,219  
Europe     8,716,656       8,727,530  
Asia - Pacific     41,439,733       56,594,705  
Consolidated   $ 58,379,410     $ 72,608,632  
SUMMARY OF INVESTMENT UNDER EQUITY METHOD

The following table presents a summary of investments under the equity method as of June 30, 2023 and 2022:

 

    As of     As of  
    June 30, 2023     June 30, 2022  
Investment in associates under equity method:                
Asia - Pacific   $ 25,396     $ 1,059,368  
 Consolidated   $ 25,396     $ 1,059,368  
SUMMARY OF REVENUE STREAMS

The following table presents a summary of revenue streams by segment for the years ended June 30, 2023 and 2022:

 

                                                 
    2023     2022  
    License fees     Subscription and support     Services     Total     License fees     Subscription and support     Services     Total  
                                                 
North America   $ 28,000     $ 4,398,429     $ 1,690,853     $ 6,117,282     $ 27,500     $ 3,744,605     $ 515,903     $ 4,288,008  
Europe     136,151       2,682,407       7,939,886       10,758,444       291,652       2,213,427       7,923,124       10,428,203  
Asia-Pacific     2,105,413       18,899,825       14,512,251       35,517,489       4,220,108       22,326,727       15,984,933       42,531,768  
Total   $ 2,269,564     $ 25,980,661     $ 24,142,990     $ 52,393,215     $ 4,539,260     $ 28,284,759     $ 24,423,960     $ 57,247,979  
SUMMARY OF OPERATING INFORMATION

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

 

                 
    For the Years  
    Ended June 30,  
    2023     2022  
Revenues from unaffiliated customers:                
North America   $ 6,117,282     $ 4,288,008  
Europe     10,758,444       10,428,203  
Asia - Pacific     35,517,489       42,531,768  
 Revenue from unaffiliated     52,393,215       57,247,979  
Revenue from affiliated customers                
Asia - Pacific     -       -  
 Revenue from affiliated     -       -  
Consolidated   $ 52,393,215     $ 57,247,979  
                 
Intercompany revenue                
Europe   $ 394,962     $ 453,242  
Asia - Pacific     9,075,861       9,612,755  
Eliminated   $ 9,470,823     $ 10,065,997  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ (501,560 )   $ (1,027,044 )
North America     92,674       (116,199 )
Europe     (949,214 )     (1,407,252 )
Asia - Pacific     (2,786,373 )     3,651,298  
Consolidated   $ (4,144,473 )   $ 1,100,803  
                 
Depreciation and amortization:                
North America   $ 2,523     $ 1,995  
Europe     303,907       396,519  
Asia - Pacific     2,938,108       3,413,759  
Consolidated   $ 3,244,538     $ 3,812,273  
                 
Interest expense:                
Corporate headquarters   $ 23,639     $ 32,915  
North America     -       -  
Europe     8,955       10,335  
Asia - Pacific     732,436       326,551  
Consolidated   $ 765,030     $ 369,801  
                 
Income tax expense:                
Corporate headquarters   $ 12,372     $ (43,354 )
North America     1,600       46,154  
Europe     46,747       15,862  
Asia - Pacific     865,841       970,276  
Consolidated   $ 926,560     $ 988,938  
SUMMARY OF CAPITAL EXPENDITURES

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

 

    2023     2022  
    For the Years  
    Ended June 30,  
    2023     2022  
Capital expenditures:                
North America   $ 4,881     $ -  
Europe     33,185       151,378  
Asia - Pacific     1,601,372       2,457,827  
Consolidated   $ 1,639,438     $ 2,609,205  
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, 2023 and 2022.

 

    June 30, 2023     June 30, 2022  
    Revenue     Long-lived Assets     Revenue     Long-lived Assets  
                         
China   $ 15,120,449     $ 631,713     $ 20,533,170     $ 256,468  
Thailand     2,260,699       207,280       2,781,867       1,240,082  
USA     5,057,470       4,805,841       3,161,365       4,852,458  
UK     10,758,444       4,276,754       10,428,203       4,986,192  
Pakistan & India     2,087,018       6,845,753       3,751,603       11,836,992  
Australia & New Zealand     7,018,095       8,202       6,545,872       8,304  
Mexico     1,059,812       -       1,126,643       -  
Indonesia     2,903,163       -       2,957,354       -  
South Africa     752,603       -       2,057,608       -  
South Korea     1,954,982       -        894,160       -   
Other Countries     3,420,480       -       3,010,134       -  
Total   $ 52,393,215     $ 16,775,543     $ 57,247,979     $ 23,180,496  
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, 2023 and 2022.

 

                                                                                                 
    Revenues 2023  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     South Korea     Other Countries  
North America:   $ 6,117,282     $ -     $ -     $ 5,057,470     $ -     $ -     $ -     $ 1,059,812     $ -     $ -     $ -     $ -  
Europe:     10,758,444       -       -       -       10,758,444       -       -       -       -       -       -       -  
Asia-Pacific:     35,517,489       15,120,449       2,260,699       -       -       2,087,018       7,018,095       -       2,903,163       752,603       1,954,982       3,420,480  
                                                                                                 
Total   $ 52,393,215     $ 15,120,449     $ 2,260,699     $ 5,057,470     $ 10,758,444     $ 2,087,018     $ 7,018,095     $ 1,059,812     $ 2,903,163     $ 752,603     $ 1,954,982     $ 3,420,480  

 

                                                                                                 
    Revenues 2022  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     South Korea     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       894,160       3,010,134  
                                                                                                 
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     $ 894,160     $ 3,010,134