v3.19.3.a.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:    
Net loss $ (1,148,018) $ (743,937)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 13,186 19,319
Changes in current assets and current liabilities:    
Inventory (2,121) 278
Prepaid expenses and other assets (271,654) 1,409
Right-of-use assets (1,097,886)
Accrued expenses and other payables (163,636) (71,915)
Operating lease liabilities 1,097,886
Net cash used in operating activities (1,572,243) (794,846)
Cash flows from investing activities:    
Acquisition of office equipment (208,538) (15,754)
Acquisition of intangible assets (1,400,000) (14,583)
Net cash used in investing activities (1,608,538) (30,337)
Cash flows from financing activities:    
Payment of loan payable - shareholder, net (84,227) (17,508)
Net proceeds from sale of common stock 4,748,422
Net proceeds from issuance of common stock 307,724
Net cash provided by financing activities (84,227) 5,038,638
Effect of exchange rate changes on cash (2,890) 28,567
Net (decrease) increase in cash (3,267,897) 4,242,022
Cash - beginning of period 6,072,637 1,031,486
Cash - end of period 2,804,740 5,273,508
Supplemental disclosures of cash flow information:    
Cash paid for interest
Cash paid for income tax

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