Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)

v3.24.3
SEGMENT INFORMATION AND GEOGRAPHIC AREAS (Tables)
 12 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SUMMARY OF IDENTIFIABLE ASSETS

The following table presents a summary of identifiable assets as of June 30, 2024 and 2023:

 

    As of     As of  
    June 30, 2024     June 30, 2023  
Identifiable assets:                
Corporate headquarters   $ 808,385     $ 878,899  
North America     6,114,142       7,344,122  
Europe     9,410,098       8,716,656  
Asia - Pacific     47,853,817       41,439,733  
Consolidated   $ 64,186,442     $ 58,379,410  
SUMMARY OF REVENUE STREAMS

The following table presents a summary of revenue streams by segment for the years ended June 30, 2024 and 2023:

 

    License fees     Subscription and support     Services     Total     License fees     Subscription and support     Services     Total  
    2024     2023  
    License fees     Subscription and support     Services     Total     License fees     Subscription and support     Services     Total  
                                                 
North America   $ -     $ 4,693,618     $ 1,240,179     $ 5,933,797     $ 28,000     $ 4,398,429     $ 1,690,853     $ 6,117,282  
Europe     112,524       3,383,312       8,471,966       11,967,802       136,151       2,682,407       7,939,886       10,758,444  
Asia-Pacific     5,337,467       19,875,838       18,278,187       43,491,492       2,105,413       18,899,825       14,512,251       35,517,489  
Total   $ 5,449,991     $ 27,952,768     $ 27,990,332     $ 61,393,091     $ 2,269,564     $ 25,980,661     $ 24,142,990     $ 52,393,215  
SUMMARY OF OPERATING INFORMATION

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

 

    2024     2023  
    For the Years  
    Ended June 30,  
    2024     2023  
Revenues from unaffiliated customers:                
North America   $ 5,933,797     $ 6,117,282  
Europe     11,967,802       10,758,444  
Asia - Pacific     43,491,492       35,517,489  
Revenues from unaffiliated customers     61,393,091       52,393,215  
Revenue from affiliated customers                
Asia - Pacific     -       -  
      -       -  
Consolidated   $ 61,393,091     $ 52,393,215  
                 
Intercompany revenue                
Europe   $ 391,921     $ 394,962  
Asia - Pacific     11,550,233       9,075,861  
Eliminated   $ 11,942,154     $ 9,470,823  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ (1,433,734 )   $ (501,560 )
North America     (286,924 )     92,674  
Europe     (761,600 )     (949,214 )
Asia - Pacific     4,560,187       (2,786,373 )
Consolidated   $ 2,077,929     $ (4,144,473 )
                 
Depreciation and amortization:                
North America   $ 1,712     $ 2,523  
Europe     231,018       303,907  
Asia - Pacific     1,489,070       2,938,108  
Consolidated   $ 1,721,800     $ 3,244,538  
                 
Interest expense:                
Corporate headquarters   $ 34,906     $ 23,639  
North America     -       -  
Europe     9,297       8,955  
Asia - Pacific     1,097,963       732,436  
Consolidated   $ 1,142,166     $ 765,030  
                 
Income tax expense:                
Corporate headquarters   $ 800     $ 12,372  
North America     800       1,600  
Europe     333,071       46,747  
Asia - Pacific     810,847       865,841  
Consolidated   $ 1,145,518     $ 926,560  
SUMMARY OF CAPITAL EXPENDITURES

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

 

    2024     2023  
    For the Years  
    Ended June 30,  
    2024     2023  
Capital expenditures:                
North America   $ -     $ 4,881  
Europe     179,102       33,185  
Asia - Pacific     336,302       1,601,372  
Consolidated   $ 515,404     $ 1,639,438  
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, 2024 and 2023.

 

    June 30, 2024     June 30, 2023  
    Revenue     Long-lived Assets     Revenue     Long-lived Assets  
                         
China   $ 20,747,744     $ 354,122     $ 15,120,449     $ 631,713  
Thailand     3,636,153       929,651       2,260,699       207,280  
USA     4,853,541       5,001,527       5,057,470       4,805,841  
UK     12,175,959       4,454,940       10,758,444       4,276,754  
Pakistan & India     2,229,067       5,787,820       2,087,018       6,845,753  
Australia & New Zealand     5,454,383       7,168       7,018,095       8,202  
Mexico     1,080,256       -       1,059,812       -  
Indonesia     4,475,356       189,131       2,903,163       -  
South Africa     857,218       -       752,603       -  
South Korea     2,491,606       -       1,954,982       -  
Other Countries     3,391,808       -       3,420,480       -  
Total   $ 61,393,091     $ 16,724,359     $ 52,393,215     $ 16,775,543  
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, 2024 and 2023.

 

    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     South Korea     Other Countries  
    Revenues 2024  
    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     South Korea     Other Countries  
                                                                         
North America:   $ 5,933,797     $ -     $ -     $ 4,853,541     $ -     $ -     $ -     $ 1,080,256     $ -     $ -     $ -     $ -  
Europe:     11,967,800       -       -       -       11,967,800       -       -       -       -       -       -       -  
Asia-Pacific:     43,491,494       20,747,744       3,636,153       -       208,159       2,229,067       5,454,383       -       4,475,356       857,218       2,491,606       3,391,808  
                                                                                                 
Total   $ 61,393,091     $ 20,747,744     $ 3,636,153     $ 4,853,541     $ 12,175,959     $ 2,229,067     $ 5,454,383     $ 1,080,256     $ 4,475,356     $ 857,218     $ 2,491,606     $ 3,391,808  

 

    Total     China     Thailand     USA     UK     Pakistan & India     Australia & New Zealand     Mexico     Indonesia     South Africa     South Korea     Other Countries  
    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