v3.19.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (396,985) $ (371,659)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 6,969 12,162
Expenses paid by president
Changes in current assets and current liabilities:    
Prepaid expenses and other assets (378,368) 5,556
Right-of-use assets (1,219,937)
Accrued expenses and other payables (176,000) (81,449)
Operating lease liabilities 1,219,937
Net cash used in operating activities (944,384) (435,390)
Cash flows from investing activities:    
Acquisition of office equipment (1,408) (4,881)
Acquisition of intangible assets (1,688,575) (14,703)
Net cash used in investing activities (1,689,983) (19,584)
Cash flows from financing activities:    
Payment of loan payable - shareholder, net (84,855) (26,471)
Net proceeds from sale of common stock 246,944
Net cash provided by financing activities (84,855) 220,473
Effect of exchange rate changes on cash (35,261) 35,092
Net increase in cash (2,754,482) (199,408)
Cash - beginning of period 6,072,637 1,031,486
Cash - end of period 3,318,155 832,078
Supplemental disclosures of cash flow information:    
Cash paid for interest
Cash paid for income tax

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