Quarterly report pursuant to Section 13 or 15(d)

OPERATING SEGMENTS (Tables)

v3.21.2
OPERATING SEGMENTS (Tables)
3 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SUMMARY OF IDENTIFIABLE ASSETS

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

 

    As of     As of  
   

September 30,

2021

   

June 30,

2021

 
Identifiable assets:                
Corporate headquarters   $ 2,089,513     $ 2,067,474  
North America     5,890,236       6,073,616  
Europe     10,294,197       10,363,611  
Asia - Pacific     62,614,718       68,101,560  
Consolidated   $ 80,888,664     $ 86,606,261  
SUMMARY OF INVESTMENT UNDER EQUITY METHOD

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

 

    As of     As of  
   

September 30,

2021

   

June 30,

2021

 
Investment in associates under equity method:                
Corporate headquarters   $ 367,512     $ 396,403  
Asia - Pacific     2,627,592       2,759,449  
Consolidated   $ 2,995,104     $ 3,155,852  
SUMMARY OF OPERATING INFORMATION

The following table presents a summary of operating information for the three months ended September 30:

 

    For the Three Months  
    Ended September 30,  
    2021     2020  
Revenues from unaffiliated customers:                
North America   $ 930,234     $ 812,878  
Europe     3,272,899       3,151,891  
Asia - Pacific     9,217,628       8,682,609  
      13,420,761       12,647,378  
Revenue from affiliated customers                
Asia - Pacific     -       -  
      -       -  
Consolidated   $ 13,420,761     $ 12,647,378  
                 
Intercompany revenue                
Europe   $ 127,198     $ 139,156  
Asia - Pacific     2,560,100       2,158,628  
Eliminated   $ 2,687,298     $ 2,297,784  
                 
Net income (loss) after taxes and before non-controlling interest:                
Corporate headquarters   $ 128,544     $ 1,167,795  
North America     (68,093 )     (281,797 )
Europe     191,443       603,016  
Asia - Pacific     298,601       (365,537 )
Consolidated   $ 550,495     $ 1,123,477  
                 
Depreciation and amortization:                
North America   $ 566     $ 1,954  
Europe     98,848       108,008  
Asia - Pacific     880,592       819,077  
Consolidated   $ 980,006     $ 929,039  
                 
Interest expense:                
Corporate headquarters   $ 10,441     $ 6,034  
North America     -       1,209  
Europe     3,796       2,066  
Asia - Pacific     86,776       94,018  
Consolidated   $ 101,013     $ 103,327  
                 
Income tax expense:                
Corporate headquarters   $ 800     $ -  
North America     1,600       -  
Europe     -       111,678  
Asia - Pacific     165,227       152,616  
Consolidated   $ 167,627     $ 264,294  
SUMMARY OF CAPITAL EXPENDITURES

The following table presents a summary of capital expenditures for the three months ended September 30:

 

    For the Three Months  
    Ended September 30,  
    2021     2020  
Capital expenditures:                
North America   $ -     $ 1,521  
Europe     54,380       57,429  
Asia - Pacific     161,732       430,339  
Consolidated   $ 216,112     $ 489,289