Color Star Technology (ADD) 20-F 13 Nov 20 2020 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information - shares	12 Months Ended
	Jun. 30, 2020	Nov. 12, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Color Star Technology Co., Ltd.
Entity Central Index Key	0001747661
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Document Type	20-F
Document Period End Date	Jun. 30, 2020
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity File Number	333-226308
Entity Emerging Growth Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	E9
Document Transition Report	false
Document Annual Report	true
Document Shell Company Report	false
Entity Common Stock Shares Outstanding		54,861,811

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2020	Jun. 30, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 988,696	$ 319,514
Other receivables	1,002,300	2,300
Prepayments and advances	1,170,000	25,000
Current assets of discontinued operations		52,158,699
Total current assets	3,160,996	52,505,513
OTHER ASSETS
Property, plant and equipment, net	3,958,335
Other assets of discontinued operations		1,659,520
Total other assets	3,958,335	1,659,520
Total assets	7,119,331	54,165,033
CURRENT LIABILITIES:
Other payables and accrued liabilities	518,122	353,292
Other payables - related parties	10,711	540,000
Loans payable - employee		308,089
Current liabilities of discontinued operations		52,442,854
Total current liabilities	528,833	53,644,235
Total liabilities	528,833	53,644,235
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Preferred shares, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding
Ordinary shares, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and 7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively	25,624	7,175
Additional paid-in-capital	69,689,789	54,237,082
Deferred stock compensation	(1,201,183)	(3,161,200)
Deficit	(61,923,732)	(64,031,446)
Statutory reserves		6,248,092
Accumulated other comprehensive income		7,221,095
Total shareholders' equity	6,590,498	520,798
Total liabilities and shareholders' equity	$ 7,119,331	$ 54,165,033

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Preferred shares, par value	$ 0.001	$ 0.001
Preferred shares, shares authorized	1,000,000	1,000,000
Preferred shares, shares issued
Preferred shares, shares outstanding
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	74,000,000	74,000,000
Ordinary shares, shares issued	25,623,822	7,174,626
Ordinary shares, shares outstanding	25,623,822	7,174,626

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	$ (1,598,984)	$ (2,065,829)	$ (918,605)
RESEARCH AND DEVELOPMENT EXPENSES	(120,000)
STOCK COMPENSATION EXPENSE	(3,444,617)	(4,592,200)	(1,388,501)
LOSS FROM OPERATIONS	(5,163,601)	(6,658,029)	(2,307,106)
OTHER INCOME (EXPENSE), NET
Interest income		84	13
Finance expense	(5,041)	(1,477)	(26)
TOTAL OTHER EXPENSE, NET	(5,041)	(1,393)	(13)
LOSS BEFORE PROVISION FOR INCOME TAXES	(5,168,642)	(6,659,422)	(2,307,119)
PROVISION FOR INCOME TAXES
LOSS FROM CONTINUING OPERATIONS	(5,168,642)	(6,659,422)	(2,307,119)
DISCONTINUED OPERATIONS:
Loss from discontinued operations, net of applicable income taxes	(12,245,168)	(7,729,108)	(5,092,846)
Net gain on sale of discontinued operations, net of applicable income taxes	5,787,213
LOSS FROM DISCONTINUED OPERATIONS	(6,457,955)	(7,729,108)	(5,092,846)
NET LOSS	(11,626,597)	(14,388,530)	(7,399,965)
COMPREHENSIVE LOSS
Net loss	(11,626,597)	(14,388,530)	(7,399,965)
Other comprehensive (loss) income - foreign currency translation (loss) gain		(335,080)	347,097
COMPREHENSIVE LOSS	$ (11,626,597)	$ (14,723,610)	$ (7,052,868)
Weighted average number of shares:
Basic	11,640,018	5,841,614	2,942,945
Diluted	11,640,018	5,841,614	2,942,945
Loss per share - basic and diluted
Continuing operations	$ (0.44)	$ (1.14)	$ (0.78)
Discontinued operations	(0.55)	(1.32)	(1.73)
Total	$ (0.99)	$ (2.46)	$ (2.51)

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Ordinary shares	Additional paid-in capital	Deferred share Compensation	Deficit	Statutory reserves	Accumulated other comprehensive income	Total
BALANCE at Jun. 30, 2017	$ 2,388	$ 38,662,377		$ (42,242,951)	$ 6,248,092	$ 7,209,078	$ 9,878,984
BALANCE, Shares at Jun. 30, 2017	2,387,658
Sale of ordinary shares	$ 300	599,700					600,000
Sale of ordinary shares, shares	300,000
Cancellation of ordinary shares issued for services	$ (57)	57
Cancellation of ordinary shares issued for services	(56,859)
Ordinary shares issued for services		144,500					144,500
Ordinary shares issued for services, shares
Ordinary shares issued for acquisition of subsidiary
Ordinary shares issued for acquisition of equipment
Ordinary shares issued for compensation	$ 475	1,243,526					1,244,001
Ordinary shares issued for compensation, shares	475,195
Ordinary shares issued for debt repayment	$ 1,883	3,857,560					3,859,443
Ordinary shares issued for debt repayment, shares	1,882,655
Ordinary shares issued for services	$ 500	2,824,500	(2,825,000)
Ordinary shares issued for services, shares	500,000
Payments made by major shareholders for litigation		1,028,148					1,028,148
Net loss				(7,399,965)			(7,399,965)
Foreign currency translation gain						347,097	347,097
BALANCE at Jun. 30, 2018	$ 5,489	48,360,368	(2,825,000)	(49,642,916)	6,248,092	7,556,175	9,702,208
BALANCE, shares at Jun. 30, 2018	5,488,649
Sale of ordinary shares	$ 296	949,704					950,000
Sale of ordinary shares, shares	295,977
Ordinary shares issued for acquisition of subsidiary
Ordinary shares issued for acquisition of equipment
Ordinary shares issued for compensation	$ 550	1,319,450					1,320,000
Ordinary shares issued for compensation, shares	550,000
Ordinary shares issued for services	$ 600	1,757,400	(1,758,000)
Ordinary shares issued for services, shares	600,000
Unvested restricted ordinary shares issued to officers	$ 240	1,850,160	(1,850,400)
Unvested restricted ordinary shares issued to officers, shares	240,000
Stock compensation expense			3,272,200				3,272,200
Net loss				(14,388,530)			(14,388,530)
Foreign currency translation gain						(335,080)	(335,080)
BALANCE at Jun. 30, 2019	$ 7,175	54,237,082	(3,161,200)	(64,031,446)	6,248,092	7,221,095	520,798
BALANCE, shares at Jun. 30, 2019	7,174,626
Sale of ordinary shares	$ 7,327	4,495,574					4,502,901
Sale of ordinary shares, shares	7,327,274
Ordinary shares issued for services	$ 400	1,399,600	(1,400,000)
Ordinary shares issued for services, shares	400,000
Ordinary shares issued for debt conversion	$ 3,679	5,626,570					5,630,249
Ordinary shares issued for debt conversion, shares	3,679,327
Ordinary shares issued for acquisition of subsidiary	$ 1,989	1,887,810					1,889,799
Ordinary shares issued for acquisition of subsidiary, shares	1,989,262
Ordinary shares issued for acquisition of equipment	$ 4,634	1,958,973					1,963,607
Ordinary shares issued for acquisition of equipment, shares	4,633,333
Unvested restricted ordinary shares issued to officers	$ 420	84,180	(84,600)
Unvested restricted ordinary shares issued to officers, shares	420,000
Stock compensation expense			3,444,617				3,444,617
Net loss				(11,626,597)			(11,626,597)
Deconsolidation of discontinued operations				13,734,311	(6,248,092)	(7,486,219)
Foreign currency translation gain						265,124	265,124
BALANCE at Jun. 30, 2020	$ 25,624	$ 69,689,789	$ (1,201,183)	$ (61,923,732)			$ 6,590,498
BALANCE, shares at Jun. 30, 2020	25,623,822

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (11,626,597)	$ (14,388,530)	$ (7,399,965)
Net loss from discontinued operations	(6,457,955)	(7,729,108)	(5,092,846)
Net loss from continuing operations	(5,168,642)	(6,659,422)	(2,307,119)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Stock compensation expense	3,444,617	4,592,200	1,388,501
Changes in operating assets and liabilities
Other receivables			(2,300)
Prepayments and advances	(1,145,000)	15,458	(40,458)
Other payables and accrued liabilities	130,036	509,381	2,000
Other payables - related parties		540,000	720,000
Net cash used in operating activities from continuing operations	(2,738,989)	(1,002,383)	(239,376)
Net cash provided by (used in) operating activities from discontinued operations	203,854	(73,759)	2,689,394
Net cash (used in) provided by operating activities	(2,535,135)	(1,076,142)	2,450,018
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(2,000,000)
Cash acquired through acquisition of Color China	5,272
Proceeds from sales of discontinued operations	600,000
Net cash used in investing activities from continuing operations	(1,394,728)
Net cash used in investing activities from discontinued operations		(135,705)	(138,151)
Net cash used in investing activities	(1,394,728)	(135,705)	(138,151)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings from shareholders	300,000
Proceeds from sale of ordinary shares, net of offering costs	4,502,901	950,000	600,000
Net cash provided by financing activities from continuing operations	4,802,901	950,000	600,000
Net cash used in financing activities from discontinued operations	(7,294)	(427,333)	(6,395,823)
Net cash provided by (used in) financing activities	4,795,607	522,667	(5,795,823)
EFFECTS OF EXCHANGE RATE CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(1,943)	(62,025)	149,203
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	863,801	(751,205)	(3,334,753)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year	347,486	1,098,691	4,433,444
CASH AND CASH EQUIVALENTS, end of year	1,211,287	347,486	1,098,691
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of year	319,514	1,098,691	224,679
Restricted cash at beginning of year			4,208,765
Cash, cash equivalents and restricted cash at beginning of year	347,486	1,098,691	4,433,444
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest expense		2,038,291	1,360,608
Cash paid for income tax
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:
Property, plant and equipment additions accrued			99,125
Customer deposits reclassified to other payables - shareholders upon execution of tri-party agreements			692,387
Accrued liabilities reclassified to other payables - shareholders upon execution of tri-party agreements			259,105
Accrued liabilities reclassified to loans payable - employees upon execution of tri-party agreements		308,089
Forgiveness of payable to shareholder as a capital contribution			691,731
Litigation liability paid by related party			354,921
Accrued related party’s litigation liabilities			1,422,186
Ordinary shares issued to repay other payables - related parties and service providers	5,630,249	4,928,400	3,859,443
Ordinary shares issued for acquisition of subsidiary	1,889,799
Ordinary shares issued for acquisition of equipment	1,963,607
Other receivables from disposal of subsidiary	1,000,000
Other receivables - related party offset with contingent liabilities upon litigation payments made by related party		1,189,285
OTHER NON-CASH TRANSACTIONS:
Reconciliation of operating lease right-of-use assets and lease liabilities	1,375,181
Accounts receivable offset with accounts payable upon execution of debt obligation transfer agreements	7,029,929	3,221,736	6,945,445
Accounts receivable assigned to prepayments and advances upon execution of accounts receivable assignment agreements		5,008,417
Reclassification from accounts payable to loans payable upon payment made by employees of the Company on its behalf		$ 4,311,234

Organization and Description of

Organization and Description of Business	12 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	Note 1 – Organization and description of business Color Star Technology Co., Ltd. (the "Company" or "Color Star") is an entertainment and education company which provides online entertainment performances and online music education services via its wholly-owned subsidiary, Color China Entertainment Limited ("Color China"). The Company (formerly known as Huitao Technology Co., Ltd.) was founded as an unincorporated business on September 1, 2005, under the name TJS Wood Flooring, Inc., and became a C-corporation in the State of Delaware on February 15, 2007. On April 29, 2008, TJS Wood Flooring, Inc. changed its name to China Advanced Construction Materials Group, Inc. ("CADC Delaware"). On August 1, 2013, CADC Delaware consummated a reincorporation merger with its newly formed wholly-owned subsidiary, China Advanced Construction Materials Group, Inc. ("CADC Nevada"), a Nevada corporation, with CADC Delaware merging into CADC Nevada and CADC Nevada being the surviving company, for the purpose of changing CADC Delaware's state of incorporation from Delaware to Nevada. On December 27, 2018, CADC Nevada was merged with and into China Advanced Construction Materials Group, Inc. ("CADC Cayman"), a Cayman Islands corporation, whereupon the separate existence of CADC Nevada ceased and CADC Cayman continued as the surviving entity. As a result of the reincorporation, the Company is governed by the laws of the Cayman Islands. On July 16, 2019, CADC Cayman changed its name from "China Advanced Construction Materials Group, Inc." to "Huitao Technology Co., Ltd." On April 27, 2020, Huitao Technology Co., Ltd. changed its name to "Color Star Technology Co., Ltd." CACM Group NY, Inc. On August 20, 2018, CACM Group NY, Inc. ("CACM") was incorporated in the State of New York and is 100% owned by the Company. As of the date of this report, CACM has not commenced any business operations and the Company is currently using CACM as its headquarters in the United States of America. Baytao LLC ("Baytao") On March 10, 2020, CACM entered into a joint venture agreement (the "JV Agreement") with Baydolphin, Inc. ("Baydolphin"), a company organized under the laws of New York. Pursuant to the JV Agreement, ● CACM and Baydolphin established a limited liability company under the laws of New York, Baytao, which will be the 100% owner of one or more operating entities in the U.S. to engage in the business of online and offline after-school education. ● The business of Baytao shall be managed by the Board of Managers of Baytao. ● CACM shall appoint three designees to the Board of Managers of Baytao and Baydolphin shall appoint two designees. The General Manager of Baytao shall be appointed by CACM and report to the Board of Managers. ● CACM shall contribute necessary capital for the operating entities to fund their operations and obtain the right to use the software platform and other technologies from Color Star, which will be provided to the JV and its operating entities for no charge to facilitate their operations and provide online classes to their registered students, and Baydolphin shall be responsible for managing these entities with its expertise in after-school education, including but not limited to recruiting and training personnel and implementing all promotional and marketing activities. ● Eighty percent (80%) of the net profits or net loss of the joint venture will be distributed to or assigned to CACM and the remaining twenty percent (20%) to Baydolphin. As of the date of this report, Baytao has no business operations as it is still in the process of developing its online and offline after-school education business. Color China The ongoing COVID-19 pandemic has claimed hundreds of thousands of lives and caused massive global health and economic crisis, while also causing large-scale social and behavioral changes in societies. Online entertainment and online education are experiencing enormous growth which the Company believes will last long after the pandemic. In order to expand the Company's global reach and to enter into an online business, on May 7, 2020, the Company entered into a Share Exchange Agreement ("Exchange Agreement") with Color China, a Hong Kong limited company, and shareholders of Color China (the "Sellers"), pursuant to which, among other things and subject to the terms and conditions contained therein, the Company acquired all of the outstanding issued shares in Color China from the sellers (the "Acquisition"). Pursuant to the Exchange Agreement, in exchange for all of the outstanding shares of Color China, the Company agreed to issue 4,633,333 ordinary shares of the Company and pay an aggregate of $2,000,000 to the Sellers. On June 3, 2020, the Acquisition was consummated and the Company issued 4,633,333 ordinary shares of the Company to the Sellers and closed on the same date. Since Color China had no business operations other than holding a significant collection of music performance specific equipment, the transaction has been treated as an acquisition of assets, as it did not meet the definition of a business. The Company plans to make Color China an emerging online performance and online music education provider with a significant collection of performance specific assets -- leveraging professional experience of the Company's new Chief Executive Officer ("CEO") who has established good relationships with major record companies, renowned artists and entertainment agencies around the world. Color China is in the process of building an online entertainment and music education platform featuring artists and professional producers as its lead instructors. Color China officially launched its online cultural entertainment platform, Color World, globally on September 10, 2020. Sunway Kids International Education Group Ltd. ("Sunway Kids") Sunway Kids is an education and health service provider to day-care and preschools in China. Sunway Kids has a highly skilled professional team experienced in early childhood development. It provides a well-structured system for early childhood education, including artificial intelligence and robotic technologies, intellectual campus administration software as a service system ("SAAS system") and online education courses for kids and parents. With the introduction of the national two-child policy in China since 2015, birth rate in China has been increasing and thus provides an increase in service opportunities for the preschool education industry. With the deepening of China's economic reforms, the disposable income of urban residents has continued to increase. With the improvement of living standards of urban residents, families are more willing to invest in education, training, and other services for their children starting at a young age. In order to expand the Company's revenue capacity, on December 31, 2019, the Company entered into a Share Exchange Agreement ("Share Exchange Agreement") with Sunway Kids International Education Group Ltd. ("Sunway Kids"), a British Virgin Islands company, and the shareholders of Sunway Kids (the "Sellers of SK"), pursuant to which the Company will acquire all of the outstanding issued shares of Sunway Kids (the "SK Acquisition"). Pursuant to the Share Exchange Agreement, in exchange for all of the outstanding shares of Sunway Kids, the Company will issue 1,989,262 ordinary shares of the Company and pay two million U.S. dollars. On February 11, 2020, the Company, Sunway Kids and the Sellers of SK entered into an Amendment No. 1 ("Amendment 1") to the Share Exchange Agreement. Pursuant to Amendment 1, the cash consideration will be payable to the Sellers of SK according to an earn-out schedule. On February 14, 2020, the SK Acquisition was closed and the Company issued 1,989,262 ordinary shares to the Sellers of SK. The shares had a fair value of approximately $1.9 million based on the closing market price of $0.95 per share on February, 14, 2020, the acquisition date. The total consideration was valued at approximately $3.6 million, which include approximately $1.7 million based upon a 5.8% discount rate of the $2.0 million earn-out payment schedule, and approximately $1.9 million for the shares issued. On June 25, 2020, the Company and the former shareholders of Sunway Kids entered into an Amendment No. 2 ("Amendment 2") to the Share Exchange Agreement dated December 31, 2019. Pursuant to Amendment 2, the Company shall not make any the earn-out payment to the former shareholders of Sunway Kids since Sunway Kids has been unable to conduct its normal operations due to the COVID-19 pandemic and management of Sunway Kids believes it will be very difficult to achieve its projected financial results. On the same day, Sunway Kids and Yanliang Han (the "SK Purchaser"), an unrelated third party, entered into certain share purchase agreement (the "Disposition SPA"). Pursuant to the Disposition SPA, the SK Purchaser agreed to purchase Sunway Kids for cash consideration of $2.4 million consisting of $400,000 which shall be paid within a month of closing, and $2,000,000 to be paid in monthly installments of $200,000 over 10 months. On June 25, 2020, the transaction closed and as a result, the SK Purchaser acquired Sunway Kids and all the subsidiaries and variable interest entities owned or controlled them. Sunway Kids had no operations from February 14, 2020 to June 25, 2020 as management had been unable to conduct its normal operations due to the COVID-19 pandemic. The SK Purchaser subsequently settled $1.0 million of the total $2.4 million payment obligation. Although the SK Purchaser is current with its installment payment, the Company will recognize the installment payment on a cash basis as collectability of the remaining $1.4 million cannot be reasonably assured. The disposition of Sunway Kids resulted in the recognition of a loss of approximately $0.8 million that is recorded in the accompanying consolidated statements of operations and comprehensive income (loss) in the caption of "loss from discontinued operations." The disposition of Sunway Kids was classified as a discontinued operation because it represented a strategic shift that had a major effect on the Company's operation on artificial intelligence education for preschool kids and financial results in accordance with ASC 205-20-45. BVI-ACM Prior to acquisition of Sunway Kids in February 2020, the Company's core business had been the concrete business in China. The Company had a wholly-owned subsidiary in the British Virgin Islands, Xin Ao Construction Materials, Inc. ("BVI-ACM"), which was a holding company with no operations. BVI-ACM had a wholly-owned foreign subsidiary, Beijing Ao Hang Construction Material Technology Co., Ltd. ("China-ACMH"), and China-ACMH had contractual agreements with Beijing XinAo Concrete Group ("Xin Ao") and therefore Xin Ao was considered a variable interest entity of China-ACMH. The Company, through BVI-ACM and its variable interest entities ("VIEs"), was engaged in producing general ready-mix concrete, customized mechanical refining concrete, and other concrete-related products that are only sold in the People's Republic of China (the "PRC"). The Company's concrete business was negatively affected by the economic cycle and government policies. The concrete industry was influenced by the decline in the macro economy in recent years. The entire concrete industry in the PRC's Beijing area experienced a slowdown in industry production and economic growth in the last few years as the Beijing government continues to enforce concrete production reformation and tightened environmental laws from late 2017 to date. The reformation causes great uncertainties for local enterprises in the construction market. Since 2017, the pressure on small concrete companies has further increased and many have been shut down. Also, the Beijing government ordered the suspension of construction job sites during winters to reduce air pollution since 2017. The operations of Xin Ao were also severely affected. As a result of Xin Ao's deteriorating cash position, it defaulted on bank loans and experienced a substantial increase in contingent liabilities. The Company believed it would be very difficult, if not impossible, to turn around the concrete business. As such, the Company had been actively seeking to dispose of the concrete business after the acquisition of Sunway Kids. On March 31, 2020, the Company, BVI-ACM, and Mr. Xianfu Han and Mr. Weili He (the "XA Purchasers") who collectively held less than 5% ordinary shares of the Company currently), entered into a share purchase agreement (the "XA Disposition SPA"). Pursuant to the XA Disposition SPA, the XA Purchasers agreed to purchase BVI-ACM for cash consideration of $600,000. Upon the closing of the transaction (the "XA Disposition") contemplated by the XA Disposition SPA, the XA Purchasers will become the sole shareholders of BVI-ACM and assume all assets and liabilities of all the subsidiaries and VIE entities owned or controlled by BVI-ACM. The closing of the XA Disposition was subject to certain closing conditions including the payment of the $600,000, the receipt of a fairness opinion from ViewTrade Securities Inc. and the approval of the Company's shareholders. On May 6, 2020, the Company completed the disposition of BVI-ACM after obtaining its shareholders' approval on April 27, 2020 and satisfaction or waiver of all other closing conditions. Upon the closing of the XA Disposition, the XA Purchases became the sole shareholders of BVI-ACM and assumed all assets and liabilities of all the subsidiaries and variable interest entities owned or controlled by BVI-ACM. The assets and liabilities and the results of operations of BVI-ACM had been presented as discontinued operations in the accompanying consolidated balance sheets and the statements of operations and comprehensive income (loss). The disposal of BVI-ACM resulted in a gain of approximately $6.6 million that is recognized in the accompanying consolidated statements of operations and comprehensive income (loss) under the caption of "loss from discontinued operations".

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of significant accounting policies	Note 2 – Summary of significant accounting policies Liquidity In assessing the Company's liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company's liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. As of June 30, 2020, the Company's working capital was approximately $2.6 million with cash on-hand of approximately $1.0 million. Subsequent to June 30, 2020, the Company completed a series of equity financing transactions follows: ● On July 20, 2020, the Company sold 3,225,000 ordinary shares at the offering price of $1.30 per share for gross proceeds of approximately $4.2 million. ● In August and September 2020, the Company's Warrant holders converted a total of 5,227,274 warrants into a total of 5,227,274 ordinary shares at a weighted exercise price of $0.11 per share for gross proceeds of approximately $0.6 million. ● On September 8, 2020, the Company sold 793,651 ordinary shares at the offering price of $0.63 per share for gross proceeds of approximately $0.5 million. The Company also agreed to issue 31,746 ordinary shares as additional consideration for the purchase of these shares. ● On September 15, 2020, the Company issued and sold 13,200,000 ordinary shares at the offering price of $0.50 per share for gross proceeds of approximately $6.6 million. ● Sales from July 1, 2020 to the date of this report of approximately $2.0 million. Subsequent to June 30, 2020, the Company has entered into a number of contractual and business arrangements as follows: ● On August 21, 2020, the Company entered into an Asset Purchase Agreement with a non-affiliated third party ("Asset Seller") pursuant to which the Company purchased certain machinery and equipment for stage performance for a total purchase price of $6,818,000, of which $3,000,000 shall be paid in cash and the remaining $3,818,000 shall be paid in the form of 6,060,318 ordinary shares. $2,000,000 of the cash consideration was paid in August 2020 and the remaining $1,000,000 was settled in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. ● Payments of approximately $2.1 million to the online concert agent and performing artists for the Company's "Color World Online Concert" held on September 10, 2020. ● Payments of approximately $3.8 million to the star agent and participating celebrities for contracting those celebrities to teach on Color World app. ● Payments of approximately $1.4 million for capital expenditure and other generated and administrative expenses. As a result of the aforementioned transactions, the Company's management is of the opinion that it has sufficient funds to meet the Company's working capital requirements and contractual commitments and related obligations as they become due starting from one year from the date of this report. Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). These consolidated financial statements include the accounts of all the directly and indirectly owned subsidiaries and VIEs listed below. Principles of consolidation The consolidated financial statements reflect the activities of the following subsidiaries and VIEs. All material intercompany transactions and balances have been eliminated. Subsidiaries and VIEs Place incorporated Ownership CACM New York, USA 100 % Baytao New York, USA 80 % Color China Hong Kong 100 % BVI-ACM (1) British Virgin Island 100 % China-ACMH (1) Beijing, China 100 % Xin Ao (1) Beijing, China VIE Sunway Kids (2) British Virgin Island 100 % (1) The Company sold BVI-ACM and its subsidiaries to two former officers (CEO and CFO) who collectively held less than 5% ordinary shares of the Company currently for $600,000. See Note 4 – Discontinued operations for details. (2) The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020. See Note 4 – Discontinued operations for details. Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company's consolidated financial statements include the allowance for doubtful accounts of other receivables, prepayments and advances and deferred income taxes, stock-based compensation, and fair value and useful lives of property, plant and equipment. Actual results could be materially different from those estimates. Foreign currency translation The reporting currency of the Company, CACM, Baytao, and Color China is the U.S. dollar ("US$"). The functional currency of BVI-ACM is the U.S. dollar. China-ACMH and Xin Ao use their local currency, the Chinese Renminbi ("RMB") as their functional currency. In accordance with U.S. GAAP guidance on Foreign Currency Translation, the Company's results of discontinued operations and cash flows are translated at the average exchange rates during the period, assets and liabilities of discontinued operations are translated at the exchange rates at the balance sheet date, and equity is translated at historical exchange rates. Asset and liability accounts of discontinued operations at May 6, 2020 and June 30, 2019 were translated at RMB 7.06 and RMB 6.87 to US$1.00. Equity accounts are translated at their historical rate. The average translation rates applied to the consolidated statements of discontinued operations and comprehensive loss and cash flows from July 1, 2019 to May 6, 2020 and for the year ended June 30, 2019 were RMB 7.02 and RMB 6.83 to US$1.00, respectively. Translation gains (losses) that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations. There were no foreign currency transaction gains or losses for the years ended June 30, 2020 and 2019. The effects of foreign currency translation adjustments are included in shareholders' equity as a component of accumulated other comprehensive income (loss). Discontinued operations In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-1E to be classified as discontinued operations. When all of the criteria to be classified as discontinued operations are met, including management having the authority to approve the action and committing to a plan to sell the entity or the components, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from the balances of the continuing operations. At the same time, the results of discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. See Note 4 – Discontinued operations. Revenue recognition On July 1, 2018, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. The core principle underlying this ASU is that the Company recognizes its revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This requires the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company's revenue streams are primarily recognized at a point in time, principally upon music performance performed or education services provided. The ASU requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition. The Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration to collect is substantially probable. With the acquisition of Color China, the Company plans to offer the following services: (a) Online education academy The Company plans to earn revenue from its customers for subscription and tuition fees in connection with online courses to be instructed by individuals with extensive experience in the entertainment and/or music industries. (b) Online concert The Company holds online concerts with its star partners. Sale of online concert via subscription fee is accounted for as a single performance obligation which is satisfied at a point in time on the day of the event. Online concert subscription fees are generally collected in advance and are initially recorded as deferred revenue. All ticket sales are final upon payment. (c) Online store The Company plans to hold an online marketplace for merchants to sell celebrity licensed or cobranded merchandise such as fashions, cosmetics, souvenirs, among others. The Company plans to charge commission fees to e-commerce merchants for selling in the Company's online marketplace platform when the sales transaction is completed. The Company serves as an agent and its performance obligation is to arrange for the provision of the specified goods by those e-commerce merchants, and is not responsible for fulfilling the promise to provide the specified goods or services, and it does not have the ability to control the related shipping services. Upon completion of the sales transaction, the Company will charge the e-commerce merchants a fixed rate commission fee based on the sales amount. Commission fee revenues are recognized on a net basis at the point of delivery of products, net of a return allowance, if applicable. For the year ended June 30, 2020, the Company did not earn any revenues from the aforementioned services. As a practical expedient, the Company elects to record the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less. Financial instruments US GAAP specifies a hierarchy of valuation techniques for determining the fair value of financial instruments and related fair value measurements based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). The valuation hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with FASB ASC 820, the following summarizes the fair value hierarchy: The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; Level 3 inputs to the valuation methodology are unobservable. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. Cash and cash equivalents The Company considers all highly liquid investments with the original maturity of three months or less at the date of purchase to be cash equivalents. Other receivables Other receivables primarily include security deposit and receivable from the disposal of its discontinued operation. Management regularly reviews the age of these receivables and changes in payment trends and will record an allowance for uncollectible when management believes collection of amounts due is at risk. Accounts considered uncollectible are written off against the allowance after exhaustive efforts at collection are made. Prepayments and advances Prepayments include funds deposited or advanced to outside vendors for future performance obligations, program license fees, vehicle purchase and service fees. As a standard practice in the music performance industry, many of the Company's vendors require a certain amount to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. The Company has legally binding contracts with its vendors, the prepayments will be used to offset performance fees, program license fees, purchase price or service fees, and the amounts are refundable and bear no interest if outside vendors breach the contracts. Property, plant and equipment Property, plant and equipment are stated at cost or at fair value of the identifiable assets acquired on the acquisition date less accumulated depreciation and impairment loss. Expenditures for maintenance and repairs are charged to operations as incurred while additions, renewals and improvements are capitalized. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method with 0%-5% residual value. The estimated useful lives of assets are as follows: Useful life Performance equipment 10 years Office equipment 5 years Accounting for long-lived assets The Company classifies its long-lived assets into: (i) performance equipment; and (ii) office equipment. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technological or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. If the value of an asset is determined to be impaired, the impairment to be recognized is measured in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or the fair value, less disposition costs. There were no impairment charges for the years ended June 30, 2020, 2019 and 2018. Competitive pricing pressures and changes in interest rates could materially and adversely affect the Company's estimates of future net cash flows to be generated by the long-lived assets, and thus could result in future impairment losses. Leases Effective July 1, 2019, the Company adopted FASB ASU 2016-02, "Leases" (Topic 842), and elected the practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or fewer, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component. Operating lease right-of-use ("ROU") assets and lease liabilities are recognized at the adoption date of July 1, 2019 or the commencement date, whichever is earlier, based on the present value of lease payments over the lease term. Since the implicit rate for the Company's leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as operating lease ROU assets and lease liabilities. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. Stock-based compensation The Company records stock-based compensation expense for employees at fair value on the grant date and recognizes the expense over the employee's requisite service period. The Company's expected volatility assumption is based on the historical volatility of the Company's stock. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination rate. The risk-free interest rate for the expected term of an option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is based on the Company's current and expected dividend policy. The Company records stock-based compensation expense for non-employees at fair value on the grant date and recognizes the expense over the service provider's requisite service period. Income taxes The Company accounts for income taxes in accordance with FASB ASC 740, "Income Taxes," which requires the Company to use the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between financial statement carrying amounts and the tax bases of existing assets and liabilities and operating loss and tax credit carry forwards. Under this accounting standard, the effect on deferred income taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all of, a deferred tax asset will not be realized. ASC 740-10, "Accounting for Uncertainty in Income Taxes," defines uncertainty in income taxes and the evaluation of a tax position as a two-step process. The first step is to determine whether it is more likely than not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. United States federal, state and local income tax returns for year 2018 and 2019 are subject to examination by any applicable tax authorities. PRC tax returns filed for calendar years ended December 31, 2017 to 2019 are subject to examination by the applicable tax authorities. Earnings (loss) per share The Company reports earnings (loss) per share in accordance with U.S. GAAP, which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts, such as warrants, options, restricted stock based grants and convertible preferred stock, to issue ordinary shares were exercised and converted into ordinary shares. Ordinary share equivalents having an anti-dilutive effect on earnings per share are excluded from the calculation of diluted earnings per share. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase ordinary shares at the average market price during the period. When the Company has a loss, no potential dilutive items are included since they would be antidilutive. Stock dividends or stock splits are accounted for retroactively if the stock dividends or stock splits occur during the period, or retroactively if the stock dividends or stock splits occur after the end of the period but before the release of the financial statements, by considering it effective as of the beginning of the earliest period presented. Comprehensive income (loss) Comprehensive income (loss) consists of net income (loss) and foreign currency translation adjustments. Recent Accounting Pronouncements In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this Update affect any entity that is required to apply the provisions of Topic 220, Income Statement – Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this ASU did not have a material effect on the Company's consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 – Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which to include share-based payment transactions for acquiring goods and services from non-employees, which nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the goods have been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The definition of the term grant date is amended to generally state the date at which a grantor and a grantee reach a mutual understanding of the key terms and conditions of a share based payment award. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The adoption of this ASU did not have a material effect on the Company's consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement" ("ASU 2018-13"). ASU 2018-13 removes, modifies and adds certain disclosure requirements in Topic 820 "Fair Value Measurement". ASU 2018-13 eliminates certain disclosures related to transfers and the valuations process, modifies disclosures for investments that are valued based on net asset value, clarifies the measurement uncertainty disclosure, and requires additional disclosures for Level 3 fair value measurements. ASU 2018-13 is effective for the Company for annual and interim reporting periods after December 15, 2019. The adoption of this ASU did not have a material effect on the Company's consolidated financial statements. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders' concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning July 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on the Company's consolidated financial statements. In January 2020, the FASB issued ASU 2020-01 to clarify the interaction of the accounting for equity securities under ASC 321 and investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815. With respect to the interactions between ASC 321 and ASC 323, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting when applying the measurement alternative in ASC 321, immediately before applying or upon discontinuing the equity method of accounting. With respect to forward contracts or purchased options to purchase securities, the amendments clarify that when applying the guidance in ASC 815-10-15-141(a), an entity should not consider whether upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with ASC 825. The ASU is effective for interim and annual reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The Company does not expect the adoption of this standard will have a material impact on its consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company's consolidated financial statements. Reclassifications Certain prior period amounts have been reclassified to conform to the current year of discontinued operations presentation. These reclassifications have no effect on the accompanying statements of operations and cash flows.

Business Combinations

Business Combinations	12 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Business Combinations	Note 3 – Business Combinations Acquisition of Sunway Kids In order to expand the Company's revenue capacity, on December 31, 2019, the Company entered into a Share Exchange Agreement ("Share Exchange Agreement") with Sunway Kids International Education Group Ltd. ("Sunway Kids"), a British Virgin Islands company, and the shareholders of Sunway Kids (the "Sellers of SK"), pursuant to which the Company will acquire all of the outstanding issued shares of Sunway Kids (the "SK Acquisition"). Pursuant to the Share Exchange Agreement, in exchange for all of the outstanding shares of Sunway Kids, the Company will issue 1,989,262 ordinary shares of the Company and pay two million U.S. dollars. On February 11, 2020, the Company, Sunway Kids and the Sellers of SK entered into an Amendment No. 1 ("Amendment 1") to the Share Exchange Agreement. Pursuant to Amendment 1, the cash consideration will be payable to the Sellers of SK according to an earn-out schedule. On February 14, 2020, the SK Acquisition was closed and the Company issued 1,989,262 ordinary shares to the Sellers of SK. The shares had a fair value of approximately $1.9 million based on the closing market price of $0.95 per share on February, 14, 2020, the acquisition date. The total consideration was valued at approximately $3.6 million, which include approximately $1.7 million based upon a 5.8% discount rate of the $2.0 million earn-out payment schedule, and approximately $1.9 million for the shares issued. On June 25, 2020, Color Star, Sunway Kids, and the former shareholders of Sunway Kids entered into an Amendment No. 2 ("Amendment") to the Share Exchange Agreement dated December 31, 2019, as amended. Pursuant to the Amendment 2, the Company shall not make any the Earn-out Payment to the former shareholders of Sunway Kids since Sunway Kids has been unable to conduct its normal operations due to the COVID-19 pandemic and management of Sunway Kids believes it will be very difficult to achieve its projected financial results. The Company's acquisition of Sunway Kids was originally intended to be accounted for as a business combination in accordance with ASC 805. Due to the negative impact of COVID-19, the Company disposed of Sunway Kids (see Note 4) within the same fiscal year as Sunway Kids was unable to conduct its normal operations and achieve it business plan. In addition, due to COVID-19, the Company was unable to complete its purchase price allocation and assessment on the fair value of the identifiable assets acquired and liabilities assumed on the acquisition date in accordance with the business combination standard issued by the FASB, prior to its disposal on June 25, 2020. Acquisition of Color China On May 7, 2020, the Company entered into a Share Exchange Agreement ("Exchange Agreement") with Color China, a Hong Kong limited company, and shareholders of Color China (the "Sellers"), pursuant to which the Company acquired all of the outstanding issued shares of Color China from the sellers (the "Acquisition"). Pursuant to the Exchange Agreement, the Company will issue 4,633,333 ordinary shares of the Company and pay an aggregate of $2 million to the Sellers. Immediately after the Acquisition, Color Star will own 100% of Color China. On June 3, 2020, the transaction was closed and the Company issued 4,633,333 ordinary shares of the Company to the Sellers. Color China had no business operations other than holding a collection of music performance equipment. The Company's acquisition of Color China was accounted for as an acquisition of assets in accordance with ASC 805. The measurement is based on the fair value of the consideration given to acquire the assets (primarily performance and office equipment) held in Color China as it is more clearly evident and more reliably measurable. The total consideration given to acquire assets held in Color China at the acquisition date on June 3, 2020 were valued at approximately $4 million, consisted of 4,633,333 ordinary shares issued at a fair value of $1,963,607 based on the closing market price of $0.4238 per share on June 3, 2020, and cash payment of $2 million.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Jun. 30, 2020
Discontinued Operations [Abstract]
Discontinued Operations	Note 4 – Discontinued Operations Disposal of BVI-ACM The Company's concrete business was negatively affected by the economic cycle and government policies. The concrete industry was influenced by the decline in the macro economy in recent years. The entire concrete industry in the Beijing area experienced a slowdown in industry production and economic growth in the last few years as the Beijing government continues to enforce concrete production reformation and tightened environmental laws from late 2017 to date. The reformation causes great uncertainties for local enterprises in the construction market. Since 2017, the pressure on small concrete companies has further increased and many have been shut down. Also, the Beijing government ordered the suspension of construction job sites during winters to reduce air pollution since 2017. The operations of Xin Ao were also severely affected. As a result of Xin Ao's deteriorating cash position, it defaulted on bank loans and experienced a substantial increase in contingent liabilities. The Company believed it would be very difficult, if not impossible, to turn around the concrete business. Accordingly, the Company's management decided to dispose of this business by actively seeking a purchaser after the acquisition of Sunway Kids. On March 31, 2020, the Company, BVI-ACM, a wholly owned subsidiary of the Company, and Mr. Xianfu Han and Mr. Weili He (the "Purchasers"), two former officers (CEO and CFO) and collectively held less than 5% ordinary shares of the Company currently, entered into a share purchase agreement (the "Disposition SPA"). Pursuant to the Disposition SPA, the Purchasers agreed to purchase BVI-ACM in exchange for cash consideration of $600,000. Upon the closing of the transaction (the "Disposition") the Purchasers assumed all assets and liabilities of all the subsidiaries and VIE entities owned or controlled by BVI-ACM. The closing of the Disposition was completed on May 6, 2020. After disposal of BVI-ACM, the Company had no continuing involvement or commitments with BVI-ACM. The fair value of the discontinued operations of BVI-ACM, determined as of May 6, 2020, included the estimated consideration received, less costs to sell. Reconciliation of the carrying amounts of major classes of assets and liabilities from discontinued operations in the consolidated balance sheets as of June 30, 2019 is as follow: Carrying amounts of major classes of assets included as part of discontinued operations of BVI-ACM: June 30, CURRENT ASSETS: Cash $ 27,972 Accounts and notes receivable, net 37,010,458 Inventories 511,160 Other receivables, net 1,421,263 Other receivables – related party 165,075 Prepayments and advances, net 12,566,372 Prepayment – related party 456,399 Total current assets of discontinued operations 52,158,699 OTHER ASSETS: Property, plant and equipment, net 1,659,520 Total other assets of discontinued operations 1,659,520 Total assets of the disposal group classified as discontinued operations $ 53,818,219 Carrying amounts of major classes of liabilities included as part of discontinued operations of BVI-ACM: CURRENT LIABILITIES: Short-term loan – bank $ 24,686,899 Accounts payable 12,841,076 Customer deposits 635,762 Other payables 195,821 Other payables – related parties 217,737 Loans payable – employees 4,285,785 Accrued liabilities 2,907,729 Taxes payable 80,860 Accrued contingent liabilities 6,591,185 Total current liabilities of discontinued operations 52,442,854 Total liabilities of the disposal group classified as discontinued operations $ 52,442,854 Revenue recognition by BVI-CAM Sales of concrete products Prior to disposition of BVI-ACM, the Company derived its revenues from sales contracts with its customers with revenues being recognized upon delivery of products. Persuasive evidence of an arrangement was demonstrated via sales contract and invoice; and the sales price to the customer was fixed upon acceptance of the sales contract and there was no separate sales rebate, discount, or other incentive. Such revenues were recognized at a point in time after all performance obligations were satisfied and based on when control of goods was transferred to a customer. Reconciliation of the amounts of major classes of income and losses from discontinued operations in the consolidated statements of operations and comprehensive loss for the years ended June 30, 2020, 2019 and 2018. For the Year Ended For the Year Ended For the Year Ended 2020 2019 2018 Revenue $ 28,747,362 $ 43,651,923 $ 45,734,647 Cost of revenue 26,553,802 39,093,782 39,022,360 Gross profit 2,193,560 4,558,141 6,712,287 OPERATING EXPENSES: Provision for doubtful accounts (8,385,084 ) (2,559,785 ) (2,184,221 ) Selling, general and administrative expenses (3,484,700 ) (3,930,780 ) (4,382,563 ) Research and development expenses (139,780 ) (223,668 ) (1,182,133 ) Total operating expenses (12,009,564 ) (6,714,233 ) (7,748,917 ) Loss from operations (9,816,004 ) (2,156,092 ) (1,036,630 ) OTHER INCOME (EXPENSES) Other expenses, net 1,872 (4,113 ) 111,922 Interest income 235 2,198 6,038 Interest expense (1,783,833 ) (2,038,291 ) (1,360,608 ) Finance expense (825 ) (11,724 ) (5,111 ) Estimated claims charges (591,884 ) (3,521,086 ) (2,808,457 ) Total other expense, net (2,374,435 ) (5,573,016 ) (4,056,216 ) Loss before income taxes (12,190,439 ) (7,729,108 ) (5,092,846 ) Income tax expense - - - Net loss from discontinued operations $ (12,190,439 ) $ (7,729,108 ) $ (5,092,846 ) As of May 6, 2020, the net assets of discontinued operations and reconciliation of gain on sale of discontinued operations of BVI-ACM are as follows: May 6, CURRENT ASSETS: Cash and cash equivalents $ 222,591 Accounts and notes receivable, net 28,598,318 Inventories 77,049 Other receivables, net 1,815,307 Other receivables – related party 160,505 Prepayments and advances, net 15,077,736 Prepayment – related party 247,598 Total current assets 46,199,104 OTHER ASSETS: Property, plant and equipment, net 795,974 Operating lease right-of-use assets 1,031,940 Total other assets 1,827,914 Total assets $ 48,027,018 CURRENT LIABILITIES: Short-term loan - bank $ 23,996,261 Accounts payable 16,158,660 Customer deposits 888,592 Other payables 23,197,053 Other payables – related parties 6,541 Accrued liabilities 5,143,410 Operating lease liabilities- current 291,228 Taxes payable 154,680 Accrued contingent liabilities 6,997,071 Total current liabilities 76,833,496 OTHER LIABILITIES: Operating lease liabilities - noncurrent 595,086 Total other liabilities 595,086 Total liabilities $ 77,428,582 Total net deficit $ 29,401,564 Additional paid-in-capital carryover (13,128,249 ) Retained earnings carryover (7,486,219 ) Total consideration received 600,000 Exchange rate effect (2,764,813 ) Total gain on sale of discontinued operations $ 6,622,283 Disposal of Sunway Kids On June 25, 2020, the Company, Sunway Kids and Mr. Yanliang Han (the "SK Purchaser"), an unrelated third party, entered into a share purchase agreement (the "Disposition SPA"). Pursuant to the Disposition SPA, the SK Purchaser agreed to purchase Sunway Kids in exchange for cash consideration of $2.4 million. Upon closing of the transaction, the SK Purchaser became the sole shareholder of Sunway Kids and as a result, assumed all assets and liabilities of all the subsidiaries and variable interest entities (the "VIE") owned or controlled by Sunway Kids. The SK Purchaser settled $1.0 million of its payment obligation in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Although the SK Purchaser is current with its installment payment, the Company will recognize the remaining installment payment on a cash basis as collectability of the remaining $1.4 million cannot be reasonably assured. The disposition of Sunway Kids resulted in the recognition of a loss of approximately $0.8 million that is recorded in the accompanying consolidated statements of operations and comprehensive income (loss) in the caption of "loss from discontinued operations." The reconciliation of loss on sale of discontinued operations of Sunway Kids are as follows: June 25, Total consideration paid $ 3,583,952 Forgiven of fair value of earn out payment (1,694,153 ) Expenses incurred from February 14 to June 25, 2020 (54,729 ) Total consideration received (1,000,000 ) Total loss on sale of discontinued operations $ 835,070 Revenue recognition by Sunway Kids While owned by the Company, Sunway Kids was in the business of delivering artificial intelligence lessons for kids and it earned tuition fees in connection with lessons completed. Each lesson would be accounted for as a single performance obligation and tuition revenue would be recognized proportionately as the lessons are delivered. Tuition fees were generally collected in advance and would be initially recorded as deferred revenue. R Due to the COVID-19 pandemic, Sunway Kids had no business operations and did not earn any revenue from February 14, 2020 to June 25, 2020 as management was unable to conduct its normal operations.

Other Receivables

Other Receivables	12 Months Ended
	Jun. 30, 2020
Other Receivables Net [Abstract]
Other receivables	Note 5 – Other receivables Other receivables consisted of the following: June 30, June 30, Rent deposit $ 2,300 $ 2,300 Receivables from disposal of Sunway Kids (1) 1,000,000 - Other receivables $ 1,002,300 $ 2,300 (1) The SK Purchaser promised to pay $2.4 million to the Company as per the executed agreement and it had subsequently settled $1.0 million of its payment obligations through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Since collection of the remaining $1.4 million cannot be reasonably assured, the Company only reported a receivable of $1.0 million as of June 30, 2020.

Prepayments and Advances

Prepayments and Advances	12 Months Ended
	Jun. 30, 2020
Prepayments and Advances [Abstract]
Prepayments and advances	Note 6 – Prepayments and advances Prepayments and advances consisted of the following: June 30, June 30, Prepayment for online concert $ 1,000,000 $ - Prepayment for program license fees 20,000 - Prepayment for vehicle purchase 150,000 - Prepayment for audit fees - 25,000 Prepayments and advances $ 1,170,000 $ 25,000

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, plant and equipment, net	Note 7 – Property, plant and equipment, net Property, plant and equipment consist of the following: June 30, June 30, Performance equipment $ 3,910,069 $ - Office equipment 48,266 - Total 3,958,335 - Less: Accumulated depreciation - - Property, plant and equipment, net $ 3,958,335 $ - Depreciation expense was $0 for the years ended June 30, 2020, 2019 and 2018.

Loans payable - employees

Loans payable - employees	12 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Loans payable - employees	Note 8 – Loans payable - employee Na Wang and Wei Zhang, employees of the Company, have settled certain liabilities on behalf of the Company with its vendors and advanced funds to the Company for working capital purposes. The settlement amount and advances are non-interest bearing, unsecured, and are payable in cash on demand. June 30, June 30, Na Wang* $ - $ 2,341,932 Wei Zhang* - 2,251,942 Total - 4,593,874 Less: other payables – related parties - discontinued operations - (4,285,785 ) Other payables – related parties – continuing operations $ - $ 308,089 * On January 15, 2020, Hou Sing, the Company's shareholder, entered into certain loan assignment agreements with Na Wang and Wei Zhang in the aggregate amount of RMB 29,429,627 (approximately $4.3 million) (the "Debt") and delivered the full payment to the two employees. On the same day, the board of directors of the Company approved the conversion of the Debt as well as the conversion of debt in the aggregate amount of $218,519 that the Company owed to Wei Zhang, at a per share conversion price of $1.54. On March 6, 2020, upon Nasdaq's approval, the Company issued 2,911,000 ordinary shares of the Company to Hou Sing and Wei Zhang in exchange for the debt.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related party transactions	Note 9 – Related party transactions Prepayment – related party Mr. Xianfu Han, and Mr. Weili He, the Company's former officers and collectively held less than 5% ordinary shares of the Company currently, are holding positions as president and director of Ningbo Lianlv Investment Ltd., respectively. This company owns 99% of the shares of Beijing Lianlv Technical Group Ltd. ("Beijing Lianlv"), the Company's supplier. As of June 30, 2019, the Company's prepayment – related party of discontinued operations amounted to $456,399 for Beijing Lianlv, before any allowance, for inventory purchases. Other receivables – related party This balance represents litigation against Xin Ao who entered into a capital lease agreement on behalf of Beijing Lianlv, an entity whose shareholders are Mr. Han and Mr. He. The balance was indemnified by Mr. Han and Mr. He in November 2019. As of June 30, 2019, other receivable – related party of discontinued operations from Beijing Lianlv was $165,075. Other payables – related parties The balances represent the salary payables to Mr. Xianfu Han, Mr. Weili He, the Company's former Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") who collectively held less than 5% of the Company ordinary shares currently. Other payables – related parties consisted of the following: June 30, June 30, Xianfu Han $ - $ 361,336 Weili He 10,711 396,401 Total 10,711 757,737 Less: other payables – related parties - discontinued operations - (217,737 ) Other payables – related parties – continuing operations $ 10,711 $ 540,000 Borrowings from related party During the year ended June 30, 2020, Hou Sing, the Company's shareholder, lent the Company $300,000 to pay for the Company's certain operating expenses. In December 2019, the Company issued ordinary shares to Hou Sing to repay the debt the Company owes to him (See Note 12).

Leases

Leases	12 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Note 10 – Leases The Company determines if a contract contains a lease at inception. US GAAP requires that the Company’s leases be evaluated and classified as operating or finance leases for financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain and failure to exercise such option which result in an economic penalty. All of the Company’s real estate leases are classified as operating leases. The Company has a lease agreement for office space in New York from June 1, 2020 through May 31, 2021, with annual payments of $46,896. The Company did not recognize the operating lease ROU assets and lease liabilities on the balance sheet as this lease has an initial term of 12 months or less. The one-year maturity of the Company’s lease obligations is presented below: Twelve Months Ending June 30, Operating Lease Amount 2021 $ 42,988 Total lease payments $ 42,988 Operating lease expenses are included in general and administrative expenses. Total operating lease expenses were approximately $30,000, $28,000 and $2,000 for the years ended June 30, 2020, 2019 and 2018, respectively. On August 10, 2020, the Company entered into a lease agreement for office space in Shenzhen, China from August 20, 2020 through August 19, 2022. The Company did not recognize the operating lease ROU assets and lease liabilities on the balance sheet as the lessor has not yet made the underlying asset available for use by June 30, 2020. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The leases generally do not contain options to extend at the time of expiration.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income taxes	Note 11 – Income taxes (a) Corporate income tax Color Star Under the current laws of the Cayman Islands, Color Star is not subject to tax on income or capital gains. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed. CACM and Baytao CACM and Baytao are organized in the New York State in the United States. CACM and Baytao had no taxable income for the U.S. income tax purposes for the years ended June 30, 2020 and 2019. The applicable tax rate is 21.0% for federal and 7.1% for New York State with an effective tax rate of 26.6%. Color China Color China is organized in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 16.5% in Hong Kong. The Company did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception. Under Hong Kong tax law, Color China is exempted from income tax on its foreign-derived income and there are no withholding taxes in Hong Kong on remittance of dividends. L oss before provision for income taxes consisted of: For the year For the year For the year Cayman $ (4,851,668 ) $ (6,470,553 ) $ (2,307,119 ) United States (316,142 ) (188,869 ) - Hong Kong (832 ) - - $ (5,168,642 ) $ (6,659,422 ) $ (2,307,119 ) The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended June 30, 2020 and 2019: For the year ended For the year ended Federal statutory rate 21.0 % 21.0 % State statutory rate 5.6 % 5.6 % Valuation allowance (26.6 )% (26.6 )% Effective tax rate 0.0 % 0.0 % Significant components of deferred tax assets were as follows: June 30, June 30, Deferred tax assets Net operating loss carryforward in the U.S. 134,378 50,256 Net operating loss carryforward in Hong Kong 137 - Valuation allowance (134,515 ) (50,256 ) Total net deferred tax assets $ - $ - As of June 30, 2020 and 2019, CACM and Baytao’s net operating loss carry forward for the U.S. income taxes was approximately $0.5 million and $0.2 million, receptively. The net operating loss carry forwards are available to reduce future years’ taxable income for unlimited years but limited to 80% use per year. Management believes that the realization of the benefits from these losses appears uncertain due to the Company’s operating history and continued losses in the U.S. If the Company is unable to generate taxable income in its United States operations, it is more likely than not that it will not have sufficient income to utilize its deferred tax assets. Accordingly, the Company has provided a 100% valuation allowance on its net deferred tax assets of approximately $134,000 and $50,000 related to its U.S. operations as of June 30, 2020 and 2019, respectively. Changes in the value allowance for deferred tax assets increased by $84,259 from $50,256 at June 30, 2019 to $134,515 at June 30, 2020. (b) Uncertain tax positions There were no uncertain tax positions as of June 30, 2020 and 2019, management does not anticipate any potential future adjustments which would result in a material change to its tax positions. For the years ended June 30, 2020, 2019 and 2018, the Company did not incur any tax related interest or penalties.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Shareholders' equity	Note 12 – Shareholders' equity Sale of Ordinary Shares In May 2018, the Company sold 300,000 ordinary shares at $2.00 per share to certain unrelated third-party individuals. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In July 2018, the Company sold 45,977 ordinary shares at $6.525 per share for total proceeds of $300,000 to certain third-party individuals. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In August 2018, the Company sold 50,000 ordinary shares at $3.00 per share for total proceeds of $150,000 to a third-party individual. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In May 2019, the Company sold 200,000 ordinary shares at $2.50 per share for total proceeds of $500,000 to a third-party individual. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In January 2020, the Company sold 2,000,000 ordinary shares at $1.00 per share for total proceeds of $2.0 million to a third-party. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In March 2020, the Company sold 2,727,274 ordinary shares at $0.55 per share for total proceeds of approximately $1.3 million, net of offering cost of approximately $0.2 million to certain institutional investors. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In May 2020, the Company sold 2,600,000 ordinary shares at $0.55 per share for total proceeds of approximately $1.2 million, net of offering cost of approximately $0.2 million to certain institutional investors. The issuance was completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. Restricted Stock Grants Restricted stock grants are measured based on the market price on the grant date. The Company has granted restricted ordinary shares to the members of the board of directors (the "Board"), senior management and consultants. In August 2016, the Board granted an aggregate of 106,859 restricted ordinary shares, which was issued with a fair value of $308,823 to a consultant under the 2009 Plan. These shares were to vest in two tranches upon achieving certain performance-based milestones. On January 15, 2018, 50,000 shares vested on the first tranche and 56,859 shares were forfeited and cancelled on the second tranche during the year ended June 30, 2018. In January 2018, the Board granted an aggregate of 56,859 restricted ordinary shares, which were issued with a fair value of $244,494 to one employee under the 2009 Plan. These shares vested immediately upon grant. In March 2019, the Board granted an aggregate of 720,000 restricted ordinary shares, which were issued with a fair value of $1,850,400 to the CFO and former CEO/current Vice President of Technology. These shares will vest over the required service period of three years starting from March 28, 2019. In July 2019, the first batch of 240,000 restricted ordinary shares were issued to them. In June 2020, the second batch of 240,000 restricted ordinary shares were issued to them. In May 2020, the Board granted 180,000 restricted ordinary shares, which were issued with a fair value of $84,600 to the former CEO/current Vice President of Technology. These shares will vest over the required service period of one year starting from April 1, 2020. For the years ended June 30, 2020, 2019 and 2018, the Company recognized $0.6 million, $1.3 million and $1.2 compensation expense related to restricted stock grants, respectively. Following is a summary of the restricted stock grants: Restricted stock grants Shares Weighted Average Aggregate Unvested as of June 30, 2018 - $ - $ - Granted 720,000 $ 2.57 - Vested (60,000 ) $ 2.57 - Unvested as of June 30, 2019 660,000 $ 2.57 - Granted 180,000 0.47 - Vested (285,000 ) $ 2.24 - Unvested as of June 30, 2020 555,000 $ 2.06 $ 471,750 Ordinary Shares Issued for Compensation In April 2018, the Board granted an aggregate of 200,000 ordinary shares, which were issued with a fair value of $410,000, determined using the closing price of $2.05 on April 3, 2018, to two employees under the 2009 Plan. In April 2019, the Board granted an aggregate of 550,000 ordinary shares, which were issued with a fair value of $1,320,000, determined using the closing price of $2.40 on May 28, 2018, to three employees under the 2018 Plan. The 2018 Plan was authorized to issue 550,000 shares of the Company's common shares. There are no remaining shares available to be issued under 2018 Plan. Ordinary Shares Issued for Services In June 2018, the Board granted an aggregate of 500,000 ordinary shares with a fair value of $2,825,000, determined using the closing price of $5.65 on June 28, 2018, to two service providers. These shares were issued in July 2018 and are being amortized over the service period of one year starting from July 1, 2018. Amortization of deferred stock compensation for the year ended June 30, 2019 was $2,825,000. In May 2019, the Board granted an aggregate of 600,000 ordinary shares with a fair value of $1,758,000, determined using the closing price of $2.93 on May 8, 2019, to three service providers. The value of these shares are being amortized over the service period of one year starting from May 15, 2019. In July 2019, the Board granted an aggregate of 400,000 ordinary shares with a fair value of $1,400,000, determined using the closing price of $3.5 on July 19, 2019, to two service providers. The value of these shares are being amortized over the service period of one year starting from July 1, 2019. For the years ended June 30, 2020, 2019 and 2018, the Company amortized approximately $2.8 million, $3.3 million and $0.1 million, respectively. Ordinary Shares Issued for Debt Repayment In April 2018, the Board granted an aggregate of 985,889 restricted ordinary shares, with a fair value of $2,021,073, determined using the closing price of $2.05 on April 3, 2018, to Mr. Xianfu Han, the former CEO of the Company, to repay the debt the Company owed to him. In April 2018, the Board granted an aggregate of 896,766 restricted ordinary shares, with a fair value of $1,838,370, determined using the closing price of $2.05 on April 3, 2018, to Mr. Weili He, the former CFO of the Company's, to repay the debt the Company owes to him. In January 2020, Hou Sing entered into certain loan assignment agreements with Ms. Na Wang and Ms. Wei Zhang, employees of the Company who previously loaned money to Xin Ao in the aggregate amount of RMB29,429,627 (approximately $4.3 million) and delivered the full payment to the two employees. In March 2020, the Company issued an aggregate of 2,769,105 ordinary shares of the Company to Hou Sing. In January 2020, the Board approved the conversion of debt in the aggregate amount of $976,255 that Xin Ao owed to Mr. Xianfu Han, the former Chief Executive Officer of the Company, Ms. Weili He, the former Chief Financial Officer of the Company, and Ms. Wei Zhang, an employee of the Company, at a per share conversion price of $1.54. In March 2020, the Company issued an aggregate of 633,932 ordinary shares of the Company to Mr. Xianfu Han, Ms. Weili He and Ms. Wei Zhang. In April 2020, the Company issued 276,290 ordinary shares to Hou Sing, the Company's shareholder, to repay the debt owed to him. Ordinary Shares Issued for Acquisitions In February 2020, the Company issued 1,989,262 ordinary shares to the shareholders of Sunway Kids and the ordinary shares issued valued using the closing price of the Company's ordinary shares on February 14, 2020 at $0.95 per share. See Note 3 – Business Combinations. In June 2020, the Company issued 4,633,333 ordinary shares of the shareholders of Color China and the ordinary shares issued valued using the closing price of the Company's ordinary shares on June 3, 2020 at $0.4238 per share. See Note 3 – Business Combinations. Warrants In a connection with the direct offering in March 2020 with the sales of 2,727,274 ordinary shares, the Company also sold warrants ("Direct Offering Warrants") to purchase an aggregate of up to an aggregate of 2,727,274 ordinary shares to certain institutional investors on April 2, 2020. The warrants are exercisable immediately, at an exercise price of $0.55 per Ordinary Share and expire 5.5 years from the date of issuance. The fair value of this Direct Offering Warrants was $916,334, which was considered a direct cost of the direct offering and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following assumptions: market value of underlying share of $0.41, risk free rate of 0.43%; expected term of 5.5 years; exercise price of the warrants of $0.55, volatility of 120%; and expected future dividends of 0%. In June 2020, the exercise price of the warrants was amended and changed to $0.04 per Ordinary Share as a result of the May 13, 2020 direct offering. In a connection with the private placement in May 2020 for the sale of 2,600,000 ordinary shares, the Company also sold warrants ("Direct Offering Warrants") to purchase an aggregate of up to an aggregate of 2,600,000 ordinary shares to certain institutional investors on May 11, 2020. The warrants are exercisable immediately, at an exercise price of $0.55 per Ordinary Share and expire 5.5 years from the date of issuance. The fair value of this Direct Offering Warrants was $860,826, which was considered a direct cost of the direct offering and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following assumptions: market value of underlying share of $0.40, risk free rate of 0.36%; expected term of 5.5 years; exercise price of the warrants of $0.55, volatility of 123%; and expected future dividends of 0%. In August 2020, the exercise price of the warrants was amended and changed to $0.185 per Ordinary Share as a result of the July 20, 2020 direct offering. The summary of warrant activity is as follows: Warrants Outstanding Weighted Average Exercise Price Average Remaining Contractual Life June 30, 2019 - $ - - Granted 5,327,274 $ 0.55 5.50 Forfeited - $ - - Exercised - $ - - June 30, 2020 5,327,274 $ 0.29 5.31

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 13 – Commitments and contingencies Contingencies From time to time, the Company is a party to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company’s management does not expect any liability from the disposition of such claims and litigation individually or in the aggregate would have a material adverse impact on the Company’s consolidated financial position, results of operations and cash flows. Employment Agreements On March 27, 2019, Sean Liu was appointed as CEO and Chairman to fill in the vacancy created by Mr. Han’s resignation and Lili Jiang was appointed as CFO and director to fill in the vacancy created by Mr. He’s resignation effective immediately. Each new agreement calls for an annual base salary of 120,000 shares of the Company’s restricted ordinary share plus bonus, if any, with a term of three years. On May 5, 2020, the Board amended the CEO compensation to be $120,000 per year plus 300,000 ordinary shares per year vested quarterly and on May 8, 2020, the Board amended the CFO compensation to be $120,000 per year plus 120,000 ordinary shares per year vested quarterly effective April 1, 2020. (See Note 12 – Shareholders’ equity for the accounting treatment for 900,000 shares of the Company’s restricted ordinary shares granted and See Note 15 – Subsequent events). Coronavirus (“COVID-19”) In December 2019, a novel strain of coronavirus, or COVID-19, surfaced and it has spread rapidly to many parts of China and other parts of the world, including the United States. The epidemic has resulted in quarantines, travel restrictions, and the temporary closure of stores and facilities throughout the world. Substantially all of the Company’s new revenue streams are concentrated online. Consequently, the Company’s does not believe the COVID-19 outbreak would materially adversely affect the Company’s business operations, financial condition and operating results for 2020.

Concentrations of Risk

Concentrations of Risk	12 Months Ended
	Jun. 30, 2020
Risks and Uncertainties [Abstract]
Concentrations of risk	Note 14 – Concentrations of risk Credit Risk The Company is exposed to credit risk from its cash in bank and fixed deposits, and other receivables on disposal and advances on performance obligations. As of June 30, 2020, approximately $0.5 million was on deposit with a bank located in the US subject to credit risk. In the US, the insurance coverage of each bank is USD $250,000. Management believes that the credit risk on cash in bank and fixed deposits is limited because the counterparties are recognized financial institutions. Other receivables, prepayments and advances are subject to credit evaluation. An allowance will be made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.

Subsequent events

Subsequent events	12 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent events	Note 15 – Subsequent events Resignation of Yang (Sean) Liu from CEO and Director Positions On July 17, 2020, Yang (Sean) Liu resigned from his position as CEO and Chairman of the Board of Directors of the Company. Mr. Liu’s resignation did not result from any disagreement with the Company. On the same date, Mr. Liu was appointed as the Vice President of Technology of the Company. The Company agreed that the 300,000 ordinary shares of the Company previously issued to Mr. Liu for his services as the Company’s CEO shall be considered fully vested on July 17, 2020. The contractual term of the appointment with Mr. Liu is for one year commencing on July 17, 2020 and will be renewed automatically for additional one-year term if neither the Company nor Mr. Liu provides a notice of termination of the employment to the other party. The agreement calls for a monthly salary of $20,000 and one-time issuance of 300,000 ordinary shares which was issued when Mr. Liu was the Company’s CEO and such shares are vested on July 17, 2020. Appointment of Biao Lu as CEO and Chairman of the Board On July 17, 2020, Biao Lu was appointed as CEO and Chairman of the Board to fill in the vacancy created by Mr. Liu’s resignation effective immediately. Mr. Lu is an experienced veteran in the entertainment industry in China. The Company entered into an employment agreement with Mr. Lu pursuant to which Mr. Lu shall receive an annual compensation of 300,000 ordinary shares of the Company and a monthly salary of $6,000. Sale of Ordinary Shares and Warrants On July 20, 2020, the Company and certain institutional investors (the “Purchasers”) entered into a securities purchase agreement (the “Purchase Agreement”), pursuant to which the Company agreed to sell to such Purchasers an aggregate of 3,225,000 ordinary shares, par value $0.001 per share in a registered direct offering and warrants to purchase up to 2,096,252 ordinary shares in a concurrent private placement, for gross proceeds of approximately $4.19 million (the “Offering”). This offering closed on July 22, 2020. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $1.50. The warrants will expire 5.5 years from the date of issuance. The purchase price for each Share and the corresponding warrant is $1.30. Each warrant is subject to anti-dilution provisions to reflect stock dividends and splits or other similar transactions. The warrants contain a mandatory exercise right for the Company to force a cash exercise of the warrants if the Company’s ordinary shares trade at or above 300% of the purchase price per Share in the Offering (or $3.90) for 20 consecutive trading days. On September 4, 2020, the Company and GPL Ventures LLC, a Delaware limited liability company (the “Purchaser”) entered into a securities purchase agreement (the “Purchase Agreement”), pursuant to which the Company agreed to sell to such Purchaser an aggregate of up to 3,174,603 ordinary shares (the “Shares”), par value $0.001 per share in a registered direct offering, for gross proceeds of up to approximately $2 million (the “Offering”). The Shares shall be issued in four separate installments. The first installment of $500,000 worth of shares, or 793,651 shares to be issued at $0.63 per share, was closed on September 9, 2020. The Company also agreed to issue 31,746 Ordinary Shares to the Purchaser as additional consideration for the purchase of the Shares on September 9, 2020. Each of the Purchaser and the Company has the right not to proceed with any subsequent installments, with or without cause by giving the other party notice. If the Purchaser and the Company proceed with subsequent installments, in no event shall the purchase price in any subsequent installment be lower than $0.52 per share. Currently, the Company does not have any date for the sale of the remaining shares. On September 15, 2020, the “Company and certain institutional investors (the “Purchasers”) entered into a securities purchase agreement (the “Purchase Agreement”), pursuant to which the Company agreed to sell to such Purchasers an aggregate of 13,200,000 ordinary shares (the “Shares”), par value $0.001 per share in a registered direct offering with warrants (the “Warrants,” each, a “Warrant”) to purchase up to 11,880,000 Ordinary Shares in a concurrent private placement, for gross proceeds of approximately $6.6 million (the “Offering”). The Warrants will be exercisable immediately upon the date of issuance and have an exercise price of $0.55. The Warrants will expire 5.5 years from the date of issuance. The purchase price for each Share and the corresponding warrant is $0.50. Each Warrant is subject to anti-dilution provisions to reflect stock dividends and splits or other similar transactions. The Warrants contain a mandatory exercise right for the Company to force a cash exercise of the Warrants if the Ordinary Shares trade at or above 400% of the purchase price per Share in the Offering (or $2.00) for 20 consecutive trading days. The Offering closed on September 17, 2020. Conversion of Warrants into Ordinary Shares In August and September 2020, the Company’s warrants holders converted a total of 5,227,274 warrants into a total of 5,227,274 ordinary shares at a weighted exercise price of $0.11 per share for gross proceeds of approximately $0.6 million. Asset Acquisition On August 21, 2020, the Company entered into an Asset Purchase Agreement (“Agreement”) with a non-affiliated third party pursuant to which the Company purchased certain machinery and equipment for stage performances (the “Purchased Assets”) for a total purchase price of $6,818,000, of which $3,000,000 is to be paid in cash and the remaining $3,818,000 shall be paid in the form of 6,060,318 ordinary shares (the “Shares”) issued in August 2020, valued at $0.63 per share, the closing price of the Shares on August 20, 2020. $2,000,000 of the cash consideration was paid in August 2020 and the remaining $1,000,000 was settled in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. The Purchased Assets will be in furtherance of the Company’s stage performance support and music education business.

Condensed financial information

Condensed financial information of the parent company	12 Months Ended
	Jun. 30, 2020
Condensed Financial Information Disclosure [Abstract]
Condensed financial information of the parent company	Note 16 – Condensed financial information of the parent company The Company performed a test on the restricted net assets of the consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), "General Notes to Financial Statements" and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The subsidiaries did not pay any dividend to the Company for the periods presented. For the purpose of presenting parent-only financial information, the Company records its investment in its subsidiary under the equity method of accounting. Such investment is presented on the separate condensed balance sheets of the Company as "Loss in excess of investment in subsidiaries" and the loss of the subsidiaries is presented as "Equity loss of subsidiaries". Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of June 30, 2020 and 2019. PARENT COMPANY BALANCE SHEETS AS OF JUNE 30, 2020 AND 2019 (UNAUDITED) June 30, June 30, ASSETS CURRENT ASSETS: Cash $ 793,234 $ 60,122 Other receivables 1,002,300 2,300 Prepayments and advances 150,000 25,000 Total current assets 1,945,534 87,422 OTHER ASSETS: Intercompany receivable 1,709,710 19,149,878 Investment in subsidiaries 3,457,764 - Total other assets 5,167,474 19,149,878 Total assets $ 7,113,008 $ 19,237,300 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Other payables and accrued liabilities $ 511,799 $ 203,292 Other payables - shareholders 10,711 540,000 Loans payable - employee - 308,089 Total current liabilities 552,510 1,051,381 OTHER LIABILITIES: Loss in excess of investment in subsidiaries - 17,665,121 Total other liabilities - 17,665,121 Total liabilities 552,510 18,716,502 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY: Preferred share, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding - - Ordinary share, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and 7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively 25,624 7,175 Additional paid-in-capital 69,689,789 54,237,082 Deferred stock compensation (1,201,183 ) (3,161,200 ) Deficit (61,923,732 ) (64,031,446 ) Statutory reserves - 6,248,092 Accumulated other comprehensive income - 7,221,095 Total shareholders' equity 6,590,498 520,798 Total liabilities and shareholders' equity $ 7,113,008 $ 19,237,300 PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE YEARS ENDED JUNE 30, 2020, 2019 AND 2018 (UNAUDITED) For the Years Ended June 30, 2020 2019 2018 GENERAL AND ADMINISTRATIVE EXPENSES $ (1,402,044 ) $ (1,756,972 ) $ (858,605 ) STOCK COMPENSATION EXPENSE (3,444,617 ) (4,592,200 ) (1,388,501 ) LOSS FROM OPERATIONS (4,846,661 ) (6,349,172 ) (2,247,106 ) OTHER INCOME (EXPENSE), NET Interest income - 84 13 Finance expense (5,007 ) (1,465 ) (26 ) Equity loss of subsidiaries (12,562,142 ) (8,037,977 ) (5,152,846 ) Gain on sale of subsidiaries 5,787,213 - - TOTAL OTHER EXPENSE, NET (6,779,936 ) (8,039,358 ) (5,152,859 ) NET LOSS (11,626,597 ) (14,388,530 ) (7,399,965 ) OTHER COMPREHENSIVE INCOME (LOSS): Foreign currency translation income (loss) - (335,080 ) 347,097 COMPREHENSIVE LOSS $ (11,626,597 ) $ (14,723,610 ) $ (7,052,868 ) PARENT COMPANY STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED JUNE 30, 2020, 2019 AND 2018 (UNAUDITED) For the Years Ended June 30, 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (11,626,597 ) $ (14,388,530 ) $ (7,399,965 ) Adjustments to reconcile net loss to cash used in operating activities: Stock compensation expense 3,444,617 4,592,000 1,388,501 Equity loss of subsidiaries 12,562,142 8,037,977 5,152,846 Gain on sale of discontinued operations (5,787,213 ) - - Changes in operating assets and liabilities Other receivables - - (2,300 ) Prepayments and advances (125,000 ) 15,458 (40,458 ) Intercompany receivables (1,231,449 ) (575,094 ) (42,350 ) Other payables and accrued liabilities 93,711 509,381 2,000 Other payables – related parties - 540,000 720,000 Net cash used in operating activities (2,669,789 ) (1,268,608 ) (221,726 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of equipment (2,000,000 ) - - Proceeds from disposal of subsidiaries 600,000 - - Net cash used in investing activities (1,400,000 ) - - CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings from shareholders 300,000 - - Proceeds from sale of ordinary shares 4,502,901 950,000 600,000 Net cash provided by financing activities 4,802,901 950,000 600,000 NET CHANGE IN CASH 733,112 (318,608 ) 378,274 CASH, beginning of year 60,122 378,730 456 CASH, end of year $ 793,234 $ 60,122 $ 378,730 NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES: Accrued liabilities reclassified to loans payable – employees upon tri-party agreements $ - $ 308,089 $ - Ordinary shares issued to repay other payables – related parties and service providers $ 1,137,378 $ 4,928,400 $ 3,859,443 Ordinary shares issued to repay debt in subsidiary $ 5,240,679 $ - $ - Ordinary share issued for acquisition of subsidiary $ 1,889,799 $ - $ - Ordinary share issued for acquisition of equipment $ 1,963,607 $ - $ - Other receivables outstanding from disposal of subsidiary $ 1,000,000 $ - $ - Recognition of accrued liabilities from subsidiary $ 214,792 $ - $ - Derecognition of intercompany balance upon disposal of subsidiary $ 23,164,488 $ - $ -

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Liquidity	Liquidity In assessing the Company's liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company's liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. As of June 30, 2020, the Company's working capital was approximately $2.6 million with cash on-hand of approximately $1.0 million. Subsequent to June 30, 2020, the Company completed a series of equity financing transactions follows: ● On July 20, 2020, the Company sold 3,225,000 ordinary shares at the offering price of $1.30 per share for gross proceeds of approximately $4.2 million. ● In August and September 2020, the Company's Warrant holders converted a total of 5,227,274 warrants into a total of 5,227,274 ordinary shares at a weighted exercise price of $0.11 per share for gross proceeds of approximately $0.6 million. ● On September 8, 2020, the Company sold 793,651 ordinary shares at the offering price of $0.63 per share for gross proceeds of approximately $0.5 million. The Company also agreed to issue 31,746 ordinary shares as additional consideration for the purchase of these shares. ● On September 15, 2020, the Company issued and sold 13,200,000 ordinary shares at the offering price of $0.50 per share for gross proceeds of approximately $6.6 million. ● Sales from July 1, 2020 to the date of this report of approximately $2.0 million. Subsequent to June 30, 2020, the Company has entered into a number of contractual and business arrangements as follows: ● On August 21, 2020, the Company entered into an Asset Purchase Agreement with a non-affiliated third party ("Asset Seller") pursuant to which the Company purchased certain machinery and equipment for stage performance for a total purchase price of $6,818,000, of which $3,000,000 shall be paid in cash and the remaining $3,818,000 shall be paid in the form of 6,060,318 ordinary shares. $2,000,000 of the cash consideration was paid in August 2020 and the remaining $1,000,000 was settled in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. ● Payments of approximately $2.1 million to the online concert agent and performing artists for the Company's "Color World Online Concert" held on September 10, 2020. ● Payments of approximately $3.8 million to the star agent and participating celebrities for contracting those celebrities to teach on Color World app. ● Payments of approximately $1.4 million for capital expenditure and other generated and administrative expenses. As a result of the aforementioned transactions, the Company's management is of the opinion that it has sufficient funds to meet the Company's working capital requirements and contractual commitments and related obligations as they become due starting from one year from the date of this report.
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These consolidated financial statements include the accounts of all the directly and indirectly owned subsidiaries and VIEs listed below.
Principles of consolidation	Principles of consolidation The consolidated financial statements reflect the activities of the following subsidiaries and VIEs. All material intercompany transactions and balances have been eliminated. Subsidiaries and VIEs Place incorporated Ownership CACM New York, USA 100 % Baytao New York, USA 80 % Color China Hong Kong 100 % BVI-ACM (1) British Virgin Island 100 % China-ACMH (1) Beijing, China 100 % Xin Ao (1) Beijing, China VIE Sunway Kids (2) British Virgin Island 100 % (1) The Company sold BVI-ACM and its subsidiaries to two former officers (CEO and CFO) who collectively held less than 5% ordinary shares of the Company currently for $600,000. See Note 4 – Discontinued operations for details. (2) The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020. See Note 4 – Discontinued operations for details.
Use of estimates and assumptions	Use of estimates and assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s consolidated financial statements include the allowance for doubtful accounts of other receivables, prepayments and advances and deferred income taxes, stock-based compensation, and fair value and useful lives of property, plant and equipment. Actual results could be materially different from those estimates.
Foreign currency translation	Foreign currency translation The reporting currency of the Company, CACM, Baytao, and Color China is the U.S. dollar (“US$”). The functional currency of BVI-ACM is the U.S. dollar. China-ACMH and Xin Ao use their local currency, the Chinese Renminbi (“RMB”) as their functional currency. In accordance with U.S. GAAP guidance on Foreign Currency Translation, the Company’s results of discontinued operations and cash flows are translated at the average exchange rates during the period, assets and liabilities of discontinued operations are translated at the exchange rates at the balance sheet date, and equity is translated at historical exchange rates. Asset and liability accounts of discontinued operations at May 6, 2020 and June 30, 2019 were translated at RMB 7.06 and RMB 6.87 to US$1.00. Equity accounts are translated at their historical rate. The average translation rates applied to the consolidated statements of discontinued operations and comprehensive loss and cash flows from July 1, 2019 to May 6, 2020 and for the year ended June 30, 2019 were RMB 7.02 and RMB 6.83 to US$1.00, respectively. Translation gains (losses) that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations. There were no foreign currency transaction gains or losses for the years ended June 30, 2020 and 2019. The effects of foreign currency translation adjustments are included in shareholders’ equity as a component of accumulated other comprehensive income (loss).
Discontinued operations	Discontinued operations In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meet the criteria in paragraph 205-20-45-1E to be classified as discontinued operations. When all of the criteria to be classified as discontinued operations are met, including management having the authority to approve the action and committing to a plan to sell the entity or the components, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from the balances of the continuing operations. At the same time, the results of discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. See Note 4 – Discontinued operations.
Revenue recognition	Revenue recognition On July 1, 2018, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. The core principle underlying this ASU is that the Company recognizes its revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This requires the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company's revenue streams are primarily recognized at a point in time, principally upon music performance performed or education services provided. The ASU requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition. The Company accounts for a contract with a customer when the contract is committed in writing, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration to collect is substantially probable. With the acquisition of Color China, the Company plans to offer the following services: (a) Online education academy The Company plans to earn revenue from its customers for subscription and tuition fees in connection with online courses to be instructed by individuals with extensive experience in the entertainment and/or music industries. (b) Online concert The Company holds online concerts with its star partners. Sale of online concert via subscription fee is accounted for as a single performance obligation which is satisfied at a point in time on the day of the event. Online concert subscription fees are generally collected in advance and are initially recorded as deferred revenue. All ticket sales are final upon payment. (c) Online store The Company plans to hold an online marketplace for merchants to sell celebrity licensed or cobranded merchandise such as fashions, cosmetics, souvenirs, among others. The Company plans to charge commission fees to e-commerce merchants for selling in the Company's online marketplace platform when the sales transaction is completed. The Company serves as an agent and its performance obligation is to arrange for the provision of the specified goods by those e-commerce merchants, and is not responsible for fulfilling the promise to provide the specified goods or services, and it does not have the ability to control the related shipping services. Upon completion of the sales transaction, the Company will charge the e-commerce merchants a fixed rate commission fee based on the sales amount. Commission fee revenues are recognized on a net basis at the point of delivery of products, net of a return allowance, if applicable. For the year ended June 30, 2020, the Company did not earn any revenues from the aforementioned services. As a practical expedient, the Company elects to record the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the entity otherwise would have recognized is one year or less.
Financial instruments	Financial instruments US GAAP specifies a hierarchy of valuation techniques for determining the fair value of financial instruments and related fair value measurements based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (observable inputs). The valuation hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. In accordance with FASB ASC 820, the following summarizes the fair value hierarchy: The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; Level 3 inputs to the valuation methodology are unobservable. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments with the original maturity of three months or less at the date of purchase to be cash equivalents.
Other receivables	Other receivables Other receivables primarily include security deposit and receivable from the disposal of its discontinued operation. Management regularly reviews the age of these receivables and changes in payment trends and will record an allowance for uncollectible when management believes collection of amounts due is at risk. Accounts considered uncollectible are written off against the allowance after exhaustive efforts at collection are made.
Prepayments and advances	Prepayments and advances Prepayments include funds deposited or advanced to outside vendors for future performance obligations, program license fees, vehicle purchase and service fees. As a standard practice in the music performance industry, many of the Company’s vendors require a certain amount to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. The Company has legally binding contracts with its vendors, the prepayments will be used to offset performance fees, program license fees, purchase price or service fees, and the amounts are refundable and bear no interest if outside vendors breach the contracts.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost or at fair value of the identifiable assets acquired on the acquisition date less accumulated depreciation and impairment loss. Expenditures for maintenance and repairs are charged to operations as incurred while additions, renewals and improvements are capitalized. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method with 0%-5% residual value. The estimated useful lives of assets are as follows: Useful life Performance equipment 10 years Office equipment 5 years
Accounting for long-lived assets	Accounting for long-lived assets The Company classifies its long-lived assets into: (i) performance equipment; and (ii) office equipment. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technological or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. If the value of an asset is determined to be impaired, the impairment to be recognized is measured in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or the fair value, less disposition costs. There were no impairment charges for the years ended June 30, 2020, 2019 and 2018. Competitive pricing pressures and changes in interest rates could materially and adversely affect the Company’s estimates of future net cash flows to be generated by the long-lived assets, and thus could result in future impairment losses.
Leases	Leases Effective July 1, 2019, the Company adopted FASB ASU 2016-02, “Leases” (Topic 842), and elected the practical expedients that does not require us to reassess: (1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases. For lease terms of twelve months or fewer, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows lessees to treat the lease and non-lease components of a lease as a single lease component. Operating lease right-of-use (“ROU”) assets and lease liabilities are recognized at the adoption date of July 1, 2019 or the commencement date, whichever is earlier, based on the present value of lease payments over the lease term. Since the implicit rate for the Company’s leases is not readily determinable, the Company use its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the lease payments, in a similar economic environment and over a similar term. Lease terms used to calculate the present value of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception, therefore operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Its leases generally do not provide a residual guarantee. The operating lease ROU asset also excludes lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet as operating lease ROU assets and lease liabilities. The Company reviews the impairment of its ROU assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows.
Stock-based compensation	Stock-based compensation The Company records stock-based compensation expense for employees at fair value on the grant date and recognizes the expense over the employee’s requisite service period. The Company’s expected volatility assumption is based on the historical volatility of the Company’s stock. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination rate. The risk-free interest rate for the expected term of an option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is based on the Company’s current and expected dividend policy. The Company records stock-based compensation expense for non-employees at fair value on the grant date and recognizes the expense over the service provider’s requisite service period.
Income taxes	Income taxes The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes,” which requires the Company to use the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between financial statement carrying amounts and the tax bases of existing assets and liabilities and operating loss and tax credit carry forwards. Under this accounting standard, the effect on deferred income taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all of, a deferred tax asset will not be realized. ASC 740-10, “Accounting for Uncertainty in Income Taxes,” defines uncertainty in income taxes and the evaluation of a tax position as a two-step process. The first step is to determine whether it is more likely than not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. United States federal, state and local income tax returns for year 2018 and 2019 are subject to examination by any applicable tax authorities. PRC tax returns filed for calendar years ended December 31, 2017 to 2019 are subject to examination by the applicable tax authorities.
Earnings (loss) per share	Earnings (loss) per share The Company reports earnings (loss) per share in accordance with U.S. GAAP, which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts, such as warrants, options, restricted stock based grants and convertible preferred stock, to issue ordinary shares were exercised and converted into ordinary shares. Ordinary share equivalents having an anti-dilutive effect on earnings per share are excluded from the calculation of diluted earnings per share. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase ordinary shares at the average market price during the period. When the Company has a loss, no potential dilutive items are included since they would be antidilutive. Stock dividends or stock splits are accounted for retroactively if the stock dividends or stock splits occur during the period, or retroactively if the stock dividends or stock splits occur after the end of the period but before the release of the financial statements, by considering it effective as of the beginning of the earliest period presented.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) consists of net income (loss) and foreign currency translation adjustments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this Update affect any entity that is required to apply the provisions of Topic 220, Income Statement – Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 – Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which to include share-based payment transactions for acquiring goods and services from non-employees, which nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the goods have been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The definition of the term grant date is amended to generally state the date at which a grantor and a grantee reach a mutual understanding of the key terms and conditions of a share based payment award. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” (“ASU 2018-13”). ASU 2018-13 removes, modifies and adds certain disclosure requirements in Topic 820 “Fair Value Measurement”. ASU 2018-13 eliminates certain disclosures related to transfers and the valuations process, modifies disclosures for investments that are valued based on net asset value, clarifies the measurement uncertainty disclosure, and requires additional disclosures for Level 3 fair value measurements. ASU 2018-13 is effective for the Company for annual and interim reporting periods after December 15, 2019. The adoption of this ASU did not have a material effect on the Company’s consolidated financial statements. In May 2019, the FASB issued ASU 2019-05, which is an update to ASU Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduced the expected credit losses methodology for the measurement of credit losses on financial assets measured at amortized cost basis, replacing the previous incurred loss methodology. The amendments in Update 2016-13 added Topic 326, Financial Instruments—Credit Losses, and made several consequential amendments to the Codification. Update 2016-13 also modified the accounting for available-for-sale debt securities, which must be individually assessed for credit losses when fair value is less than the amortized cost basis, in accordance with Subtopic 326-30, Financial Instruments— Credit Losses—Available-for-Sale Debt Securities. The amendments in this Update address those stakeholders’ concerns by providing an option to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the targeted transition relief will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Furthermore, the targeted transition relief also may reduce the costs for some entities to comply with the amendments in Update 2016-13 while still providing financial statement users with decision-useful information. ASU 2019-05 is effective for the Company for annual and interim reporting periods beginning July 1, 2023 as the Company is qualified as a smaller reporting company. The Company is currently evaluating the impact ASU 2019-05 may have on the Company’s consolidated financial statements. In January 2020, the FASB issued ASU 2020-01 to clarify the interaction of the accounting for equity securities under ASC 321 and investments accounted for under the equity method of accounting in ASC 323 and the accounting for certain forward contracts and purchased options accounted for under ASC 815. With respect to the interactions between ASC 321 and ASC 323, the amendments clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting when applying the measurement alternative in ASC 321, immediately before applying or upon discontinuing the equity method of accounting. With respect to forward contracts or purchased options to purchase securities, the amendments clarify that when applying the guidance in ASC 815-10-15-141(a), an entity should not consider whether upon the settlement of the forward contract or exercise of the purchased option, individually or with existing investments, the underlying securities would be accounted for under the equity method in ASC 323 or the fair value option in accordance with ASC 825. The ASU is effective for interim and annual reporting periods beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The Company does not expect the adoption of this standard will have a material impact on its consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current year of discontinued operations presentation. These reclassifications have no effect on the accompanying statements of operations and cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of consolidated financial statements	Subsidiaries and VIEs Place incorporated Ownership CACM New York, USA 100 % Baytao New York, USA 80 % Color China Hong Kong 100 % BVI-ACM (1) British Virgin Island 100 % China-ACMH (1) Beijing, China 100 % Xin Ao (1) Beijing, China VIE Sunway Kids (2) British Virgin Island 100 % (1) The Company sold BVI-ACM and its subsidiaries to two former officers (CEO and CFO) who collectively held less than 5% ordinary shares of the Company currently for $600,000. See Note 4 – Discontinued operations for details. (2) The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020. See Note 4 – Discontinued operations for details.
Schedule of estimated useful lives of assets	Useful life Performance equipment 10 years Office equipment 5 years

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Jun. 30, 2020
Discontinued Operations [Abstract]
Schedule of discontinued operations consolidated balance sheets	June 30, CURRENT ASSETS: Cash $ 27,972 Accounts and notes receivable, net 37,010,458 Inventories 511,160 Other receivables, net 1,421,263 Other receivables – related party 165,075 Prepayments and advances, net 12,566,372 Prepayment – related party 456,399 Total current assets of discontinued operations 52,158,699 OTHER ASSETS: Property, plant and equipment, net 1,659,520 Total other assets of discontinued operations 1,659,520 Total assets of the disposal group classified as discontinued operations $ 53,818,219 Carrying amounts of major classes of liabilities included as part of discontinued operations of BVI-ACM: CURRENT LIABILITIES: Short-term loan – bank $ 24,686,899 Accounts payable 12,841,076 Customer deposits 635,762 Other payables 195,821 Other payables – related parties 217,737 Loans payable – employees 4,285,785 Accrued liabilities 2,907,729 Taxes payable 80,860 Accrued contingent liabilities 6,591,185 Total current liabilities of discontinued operations 52,442,854 Total liabilities of the disposal group classified as discontinued operations $ 52,442,854
Schedule of consolidated statements of operations and comprehensive loss	For the Year Ended For the Year Ended For the Year Ended 2020 2019 2018 Revenue $ 28,747,362 $ 43,651,923 $ 45,734,647 Cost of revenue 26,553,802 39,093,782 39,022,360 Gross profit 2,193,560 4,558,141 6,712,287 OPERATING EXPENSES: Provision for doubtful accounts (8,385,084 ) (2,559,785 ) (2,184,221 ) Selling, general and administrative expenses (3,484,700 ) (3,930,780 ) (4,382,563 ) Research and development expenses (139,780 ) (223,668 ) (1,182,133 ) Total operating expenses (12,009,564 ) (6,714,233 ) (7,748,917 ) Loss from operations (9,816,004 ) (2,156,092 ) (1,036,630 ) OTHER INCOME (EXPENSES) Other expenses, net 1,872 (4,113 ) 111,922 Interest income 235 2,198 6,038 Interest expense (1,783,833 ) (2,038,291 ) (1,360,608 ) Finance expense (825 ) (11,724 ) (5,111 ) Estimated claims charges (591,884 ) (3,521,086 ) (2,808,457 ) Total other expense, net (2,374,435 ) (5,573,016 ) (4,056,216 ) Loss before income taxes (12,190,439 ) (7,729,108 ) (5,092,846 ) Income tax expense - - - Net loss from discontinued operations $ (12,190,439 ) $ (7,729,108 ) $ (5,092,846 )
Schedule of reconciliation of loss on sale of discontinued operations	June 25, Total consideration paid $ 3,583,952 Forgiven of fair value of earn out payment (1,694,153 ) Expenses incurred from February 14 to June 25, 2020 (54,729 ) Total consideration received (1,00,000 ) Total loss on sale of discontinued operations $ 835,070

Other Receivables (Tables)

Other Receivables (Tables)	12 Months Ended
	Jun. 30, 2020
Other Receivables Net [Abstract]
Schedule of other receivables	June 30, June 30, Rent deposit $ 2,300 $ 2,300 Receivables from disposal of Sunway Kids (1) 1,000,000 - Other receivables $ 1,002,300 $ 2,300 (1) The SK Purchaser promised to pay $2.4 million to the Company as per the executed agreement and it had subsequently settled $1.0 million of its payment obligations through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Since collection of the remaining $1.4 million cannot be reasonably assured, the Company only reported a receivable of $1.0 million as of June 30, 2020.

Prepayments and Advances (Table

Prepayments and Advances (Tables)	12 Months Ended
	Jun. 30, 2020
Prepayments and Advances [Abstract]
Schedule of prepayments and advances	June 30, June 30, Prepayment for online concert $ 1,000,000 $ - Prepayment for program license fees 20,000 - Prepayment for vehicle purchase 150,000 - Prepayment for audit fees - 25,000 Prepayments and advances $ 1,170,000 $ 25,000

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	June 30, June 30, Performance equipment $ 3,910,069 $ - Office equipment 48,266 - Total 3,958,335 - Less: Accumulated depreciation - - Property, plant and equipment, net $ 3,958,335 $ -

Loans payable - employees (Tabl

Loans payable - employees (Tables)	12 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of advances are non-interest bearing, unsecured, and are payable in cash on demand	June 30, June 30, Na Wang* $ - $ 2,341,932 Wei Zhang* - 2,251,942 Total - 4,593,874 Less: other payables – related parties - discontinued operations - (4,285,785 ) Other payables – related parties – continuing operations $ - $ 308,089 * On January 15, 2020, Hou Sing, the Company's shareholder, entered into certain loan assignment agreements with Na Wang and Wei Zhang in the aggregate amount of RMB 29,429,627 (approximately $4.3 million) (the "Debt") and delivered the full payment to the two employees. On the same day, the board of directors of the Company approved the conversion of the Debt as well as the conversion of debt in the aggregate amount of $218,519 that the Company owed to Wei Zhang, at a per share conversion price of $1.54. On March 6, 2020, upon Nasdaq's approval, the Company issued 2,911,000 ordinary shares of the Company to Hou Sing and Wei Zhang in exchange for the debt.

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Schedule of other payables - related parties	June 30, June 30, Xianfu Han $ - $ 361,336 Weili He 10,711 396,401 Total 10,711 757,737 Less: other payables – related parties - discontinued operations - (217,737 ) Other payables – related parties – continuing operations $ 10,711 $ 540,000

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of lease obligations	Twelve Months Ending June 30, Operating Lease Amount 2021 $ 42,988 Total lease payments $ 42,988

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of loss before provision for income taxes	For the year For the year For the year Cayman $ (4,851,668 ) $ (6,470,553 ) $ (2,307,119 ) United States (316,142 ) (188,869 ) - Hong Kong (832 ) - - $ (5,168,642 ) $ (6,659,422 ) $ (2,307,119 )
Schedule of effective income tax rate	For the year ended For the year ended Federal statutory rate 21.0 % 21.0 % State statutory rate 5.6 % 5.6 % Valuation allowance (26.6 )% (26.6 )% Effective tax rate 0.0 % 0.0 %
Schedule of components of deferred tax assets	June 30, June 30, Deferred tax assets Net operating loss carryforward in the U.S. 134,378 50,256 Net operating loss carryforward in Hong Kong 137 - Valuation allowance (134,515 ) (50,256 ) Total net deferred tax assets $ - $ -

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Schedule of restricted stock grants	Restricted stock grants Shares Weighted Average Aggregate Unvested as of June 30, 2018 - $ - $ - Granted 720,000 $ 2.57 - Vested (60,000 ) $ 2.57 - Unvested as of June 30, 2019 660,000 $ 2.57 - Granted 180,000 0.47 - Vested (285,000 ) $ 2.24 - Unvested as of June 30, 2020 555,000 $ 2.06 $ 471,750
Schedule of warrant activity	Warrants Outstanding Weighted Average Exercise Price Average Remaining Contractual Life June 30, 2019 - $ - - Granted 5,327,274 $ 0.55 5.50 Forfeited - $ - - Exercised - $ - - June 30, 2020 5,327,274 $ 0.29 5.31

Condensed financial informati_2

Condensed financial information of the parent company (Tables)	12 Months Ended
	Jun. 30, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule of parent company balance sheets	June 30, June 30, ASSETS CURRENT ASSETS: Cash $ 793,234 $ 60,122 Other receivables 1,002,300 2,300 Prepayments and advances 150,000 25,000 Total current assets 1,945,534 87,422 OTHER ASSETS: Intercompany receivable 1,709,710 19,149,878 Investment in subsidiaries 3,457,764 - Total other assets 5,167,474 19,149,878 Total assets $ 7,113,008 $ 19,237,300 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Other payables and accrued liabilities $ 511,799 $ 203,292 Other payables - shareholders 10,711 540,000 Loans payable - employee - 308,089 Total current liabilities 552,510 1,051,381 OTHER LIABILITIES: Loss in excess of investment in subsidiaries - 17,665,121 Total other liabilities - 17,665,121 Total liabilities 552,510 18,716,502 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS’ EQUITY: Preferred share, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding - - Ordinary share, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and 7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively 25,624 7,175 Additional paid-in-capital 69,689,789 54,237,082 Deferred stock compensation (1,201,183 ) (3,161,200 ) Deficit (61,923,732 ) (64,031,446 ) Statutory reserves - 6,248,092 Accumulated other comprehensive income - 7,221,095 Total shareholders’ equity 6,590,498 520,798 Total liabilities and shareholders’ equity $ 7,113,008 $ 19,237,300
Schedule of parent company statements of operations and comprehensive loss	For the Years Ended June 30, 2020 2019 2018 GENERAL AND ADMINISTRATIVE EXPENSES $ (1,402,044 ) $ (1,756,972 ) $ (858,605 ) STOCK COMPENSATION EXPENSE (3,444,617 ) (4,592,200 ) (1,388,501 ) LOSS FROM OPERATIONS (4,846,661 ) (6,349,172 ) (2,247,106 ) OTHER INCOME (EXPENSE), NET Interest income - 84 13 Finance expense (5,007 ) (1,465 ) (26 ) Equity loss of subsidiaries (12,562,142 ) (8,037,977 ) (5,152,846 ) Gain on sale of subsidiaries 5,787,213 - - TOTAL OTHER EXPENSE, NET (6,779,936 ) (8,039,358 ) (5,152,859 ) NET LOSS (11,626,597 ) (14,388,530 ) (7,399,965 ) OTHER COMPREHENSIVE INCOME (LOSS): Foreign currency translation income (loss) - (335,080 ) 347,097 COMPREHENSIVE LOSS $ (11,626,597 ) $ (14,723,610 ) $ (7,052,868 )
Schedule of parent company statements of cash flows	For the Years Ended June 30, 2020 2019 2018 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (11,626,597 ) $ (14,388,530 ) $ (7,399,965 ) Adjustments to reconcile net loss to cash used in operating activities: Stock compensation expense 3,444,617 4,592,000 1,388,501 Equity loss of subsidiaries 12,562,142 8,037,977 5,152,846 Gain on sale of discontinued operations (5,787,213 ) - - Changes in operating assets and liabilities Other receivables - - (2,300 ) Prepayments and advances (125,000 ) 15,458 (40,458 ) Intercompany receivables (1,231,449 ) (575,094 ) (42,350 ) Other payables and accrued liabilities 93,711 509,381 2,000 Other payables – related parties - 540,000 720,000 Net cash used in operating activities (2,669,789 ) (1,268,608 ) (221,726 ) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of equipment (2,000,000 ) - - Proceeds from disposal of subsidiaries 600,000 - - Net cash used in investing activities (1,400,000 ) - - CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings from shareholders 300,000 - - Proceeds from sale of ordinary shares 4,502,901 950,000 600,000 Net cash provided by financing activities 4,802,901 950,000 600,000 NET CHANGE IN CASH 733,112 (318,608 ) 378,274 CASH, beginning of year 60,122 378,730 456 CASH, end of year $ 793,234 $ 60,122 $ 378,730 NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES: Accrued liabilities reclassified to loans payable – employees upon tri-party agreements $ - $ 308,089 $ - Ordinary shares issued to repay other payables – related parties and service providers $ 1,137,378 $ 4,928,400 $ 3,859,443 Ordinary shares issued to repay debt in subsidiary $ 5,240,679 $ - $ - Ordinary share issued for acquisition of subsidiary $ 1,889,799 $ - $ - Ordinary share issued for acquisition of equipment $ 1,963,607 $ - $ - Other receivables outstanding from disposal of subsidiary $ 1,000,000 $ - $ - Recognition of accrued liabilities from subsidiary $ 214,792 $ - $ - Derecognition of intercompany balance upon disposal of subsidiary $ 23,164,488 $ - $ -

Organization and Description _2

Organization and Description of Business (Details) - USD ($)

May 06, 2020

Mar. 10, 2020

Jun. 25, 2020

Mar. 31, 2020

Feb. 14, 2020

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2018

Jun. 03, 2020

May 07, 2020

Dec. 31, 2019

Feb. 20, 2019

Aug. 20, 2018

Organization and Description of Business (Textual)

Ordinary shares issued

25,623,822

7,174,626

Business acquisition, description

Pursuant to the Disposition SPA, the SK Purchaser agreed to purchase Sunway Kids for cash consideration of $2.4 million consisting of $400,000 which shall be paid within a month of closing, and $2,000,000 to be paid in monthly installments of $200,000 over 10 months. On June 25, 2020, the transaction closed and as a result, the SK Purchaser acquired Sunway Kids and all the subsidiaries and variable interest entities owned or controlled them. Sunway Kids had no operations from February 14, 2020 to June 25, 2020 as management had been unable to conduct its normal operations due to the COVID-19 pandemic. The SK Purchaser subsequently settled $1.0 million of the total $2.4 million payment obligation. Although the SK Purchaser is current with its installment payment, the Company will recognize the installment payment on a cash basis as collectability of the remaining $1.4 million cannot be reasonably assured. The disposition of Sunway Kids resulted in the recognition of a loss of approximately $0.8 million that is recorded in the accompanying consolidated statements of operations and comprehensive income (loss) in the caption of “loss from discontinued operations.

The shares had a fair value of approximately $1.9 million based on the closing market price of $0.95 per share on February, 14, 2020, the acquisition date. The total consideration was valued at approximately $3.6 million, which include approximately $1.7 million based upon a 5.8% discount rate of the $2.0 million earn-out payment schedule, and approximately $1.9 million for the shares issued.

Loss from discontinued operations

$ (11,626,597)

$ (14,723,610)

$ (7,052,868)

BVI-ACM [Member]

Organization and Description of Business (Textual)

Percentage of ordinary shares held

5.00%

Cash consideration

$ 600,000

Payments to related party

$ 600,000

Loss from discontinued operations

$ 6,600,000

Sunway Kids [Member]

Organization and Description of Business (Textual)

Ordinary shares issued

1,989,262

1,989,262

Color China [Member]

Organization and Description of Business (Textual)

Ordinary shares issued

4,633,333

4,633,333

Aggregate payment to sellers

$ 2,000,000

CACM Group [Member]

Organization and Description of Business (Textual)

Incorporate of percentage

100.00%

Net profits or loss percentage

80.00%

Baytao LLC [Member]

Organization and Description of Business (Textual)

Incorporate of percentage

100.00%

Net profits or loss percentage

20.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Jun. 30, 2020
CACM [Member]
Place incorporated	New York, USA
Ownership percentage	100.00%
Baytao [Member]
Place incorporated	New York, USA
Ownership percentage	80.00%
Color China [Member]
Place incorporated	Hong Kong
Ownership percentage	100.00%
BVI-ACM [Member]
Place incorporated	British Virgin Island	[1]
Ownership percentage	100.00%	[1]
China-ACMH [Member]
Place incorporated	Beijing, China	[1]
Ownership percentage	100.00%	[1]
Xin Ao [Member]
Place incorporated	Beijing, China	[1]
Description of ownership percentage	VIE	[1]
Sunway Kids [Member]
Place incorporated	British Virgin Island	[2]
Ownership percentage	100.00%	[2]
[1]	The Company sold BVI-ACM and its subsidiaries to two former officers (CEO and CFO) who collectively held less than 5% ordinary shares of the Company currently for $600,000. See Note 4 - Discontinued operations for details.
[2]	The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020. See Note 4 - Discontinued operations for details.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1)	12 Months Ended
	Jun. 30, 2020
Performance equipment [Member]
Useful life	10 years
Office equipment [Member]
Useful life	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textual) - USD ($)	Sep. 08, 2020	Sep. 30, 2020	Sep. 15, 2020	Aug. 31, 2020	Jul. 20, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jan. 15, 2020
Summary of Significant Accounting Policies (Textual)
Working capital						$ 2,600,000
Cash						1,000,000
Gross proceed from ordinary shares						$ 4,502,901	$ 950,000	$ 600,000
Conversion of warrant exercise price									$ 1.54
Capital expenditure and operating costs transactions, description						● On August 21, 2020, the Company entered into an Asset Purchase Agreement with a non-affiliated third party ("Asset Seller") pursuant to which the Company purchased certain machinery and equipment for stage performance for a total purchase price of $6,818,000, of which $3,000,000 shall be paid in cash and the remaining $3,818,000 shall be paid in the form of 6,060,318 ordinary shares. $2,000,000 of the cash consideration was paid in August 2020 and the remaining $1,000,000 was settled in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller.● Payments of approximately $2.1 million to the online concert agent and performing artists for the Company's "Color World Online Concert" held on September 10, 2020.● Payments of approximately $3.8 million to the star agent and participating celebrities for contracting those celebrities to teach on Color World app.● Payments of approximately $1.4 million for capital expenditure and other generated and administrative expenses.
Foreign currency translations, description						Asset and liability accounts of discontinued operations at May 6, 2020 and June 30, 2019 were translated at RMB 7.06 and RMB 6.87 to US$1.00. Equity accounts are translated at their historical rate. The average translation rates applied to the consolidated statements of discontinued operations and comprehensive loss and cash flows from July 1, 2019 to May 6, 2020 and for the year ended June 30, 2019 were RMB 7.02 and RMB 6.83 to US$1.00, respectively.
Percentage of depreciation residual value						5.00%
Percentage of tax realized upon ultimate settlement						50.00%
Additional ordinary shares	31,746
Disposition of purchase agreement						The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020.
Description of estimated useful life						Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method with 0%-5% residual value.
Sales						$ 2,000,000
Subsequent Event [Member]
Summary of Significant Accounting Policies (Textual)
Offering price	$ 0.63		$ 0.50		$ 1.30
Gross proceed from ordinary shares	$ 500,000	$ 600,000	$ 6,600,000	$ 600,000	$ 4,200,000
Conversion of warrant		5,227,274		5,227,274
Conversion of warrant exercise price		$ 0.11		$ 0.11
Aggregate of ordinary shares issued	793,651		13,200,000		3,225,000

Business Combinations (Details)

Business Combinations (Details) - USD ($)	Jun. 03, 2020	Feb. 14, 2020	May 07, 2020	Dec. 31, 2019
Business Combinations (Textual)
Business combinations, description	On June 3, 2020 were valued at approximately $4 million, consisted of 4,633,333 ordinary shares issued at a fair value of $1,963,607 based on the closing market price of $0.4238 per share on June 3, 2020, and cash payment of $2 million.
Share Exchange Agreement [Member]
Business Combinations (Textual)
Business combinations ordinary shares issued	4,633,333	1,989,262	4,633,333	1,989,262
Business combinations, description		The shares had a fair value of approximately $1.9 million based on the closing market price of $0.95 per share on February, 14, 2020, the acquisition date. The total consideration was valued at approximately $3.6 million, which include approximately $1.7 million based upon a 5.8% discount rate of the $2.0 million earn-out payment schedule, and approximately $1.9 million for the shares issued.
Business combinations aggregate amount paid to seller			$ 2,000,000
Business combinations ownership, percentage			100.00%
Business combinations performance equipment and office equipment acquired	$ 4,000,000

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	Jun. 30, 2020	May 06, 2020	Jun. 30, 2019
CURRENT ASSETS:
Total current assets of discontinued operations	$ 3,160,996		$ 52,505,513
OTHER ASSETS:
Property, plant and equipment, net	3,958,335
Total assets	7,119,331		54,165,033
CURRENT LIABILITIES:
Total current liabilities	528,833		53,644,235
OTHER LIABILITIES:
Total liabilities	528,833		53,644,235
Additional paid-in-capital carryover	69,689,789		54,237,082
Retained earnings carryover	$ (61,923,732)		(64,031,446)
Discontinued Operations [Member]
CURRENT ASSETS:
Cash		$ 222,591	27,972
Accounts and notes receivable, net		28,598,318	37,010,458
Inventories		77,049	511,160
Other receivables, net		1,815,307	1,421,263
Other receivables - related party		160,505	165,075
Prepayments and advances, net		15,077,736	12,566,372
Prepayment - related party		247,598	456,399
Total current assets of discontinued operations		46,199,104	52,158,699
OTHER ASSETS:
Property, plant and equipment, net		795,974	1,659,520
Operating lease right-of-use assets		1,031,940
Total other assets of discontinued operations		1,827,914	1,659,520
Total assets		48,027,018	53,818,219
CURRENT LIABILITIES:
Short-term loan – bank		23,996,261	24,686,899
Accounts payable		16,158,660	12,841,076
Customer deposits		888,592	635,762
Other payables		23,197,053	195,821
Other payables - related parties		6,541	217,737
Loans payable - employees			4,285,785
Accrued liabilities		5,143,410	2,907,729
Operating lease liabilities- current		291,228
Taxes payable		154,680	80,860
Accrued contingent liabilities		6,997,071	6,591,185
Total current liabilities		76,833,496	52,442,854
OTHER LIABILITIES:
Operating lease liabilities - noncurrent		595,086
Total other liabilities		595,086
Total liabilities		77,428,582	$ 52,442,854
Total net deficit		29,401,564
Additional paid-in-capital carryover		(13,128,249)
Retained earnings carryover		(7,486,219)
Total consideration received		600,000
Exchange rate effect		(2,764,813)
Total gain on sale of discontinued operations		$ 6,622,283

Discontinued Operations (Deta_2

Discontinued Operations (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
OPERATING EXPENSES:
Selling, general and administrative expenses	$ (1,598,984)	$ (2,065,829)	$ (918,605)
Research and development expenses	(120,000)
Loss from operations	(5,163,601)	(6,658,029)	(2,307,106)
OTHER INCOME (EXPENSES)
Interest income		84	13
Loss before income taxes	(5,168,642)	(6,659,422)	(2,307,119)
Income tax expense
Discontinued Operations [Member]
Revenue	28,747,362	43,651,923	45,734,647
Cost of revenue	26,553,802	39,093,782	39,022,360
Gross profit	2,193,560	4,558,141	6,712,287
OPERATING EXPENSES:
Provision for doubtful accounts	(8,385,084)	(2,559,785)	(2,184,221)
Selling, general and administrative expenses	(3,484,700)	(3,930,780)	(4,382,563)
Research and development expenses	(139,780)	(223,668)	(1,182,133)
Total operating expenses	(12,009,564)	(6,714,233)	(7,748,917)
Loss from operations	(9,816,004)	(2,156,092)	(1,036,630)
OTHER INCOME (EXPENSES)
Other expenses, net	1,872	(4,113)	111,922
Interest income	235	2,198	6,038
Interest expense	(1,783,833)	(2,038,291)	(1,360,608)
Finance expense	(825)	(11,724)	(5,111)
Estimated claims charges	(591,884)	(3,521,086)	(2,808,457)
Total other expense, net	(2,374,435)	(5,573,016)	(4,056,216)
Loss before income taxes	(12,190,439)	(7,729,108)	(5,092,846)
Income tax expense
Net loss from discontinued operations	$ (12,190,439)	$ (7,729,108)	$ (5,092,846)

Discontinued Operations (Deta_3

Discontinued Operations (Details 2) - Discontinued Operations [Member]	Jun. 25, 2020USD ($)
Total consideration paid	$ 3,583,952
Forgiven of fair value of earn out payment	(1,694,153)
Expenses incurred from February 14 to June 25, 2020	(54,729)
Total consideration received	(1,000,000)
Total loss on sale of discontinued operations	$ 835,070

Discontinued Operations (Deta_4

Discontinued Operations (Details Textual) - USD ($)	1 Months Ended			12 Months Ended
	Jun. 25, 2020	Mar. 31, 2020	Mar. 31, 2020	Jun. 30, 2020
Exchange for cash consideration			$ 600,000
Disposition of purchase agreement				The Company sold Sunway Kids and its subsidiaries to a third party for $2.4 million in June 2020.
Sunway Kids [Member]
Disposition of purchase agreement	The Company, Sunway Kids and Mr. Yanliang Han (the "SK Purchaser"), an unrelated third party, entered into a share purchase agreement (the "Disposition SPA"). Pursuant to the Disposition SPA, the SK Purchaser agreed to purchase Sunway Kids in exchange for cash consideration of $2.4 million. Upon closing of the transaction, the SK Purchaser became the sole shareholder of Sunway Kids and as a result, assumed all assets and liabilities of all the subsidiaries and variable interest entities (the "VIE") owned or controlled by Sunway Kids. The SK Purchaser settled $1.0 million of its payment obligation in November 2020 through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Although the SK Purchaser is current with its installment payment, the Company will recognize the remaining installment payment on a cash basis as collectability of the remaining $1.4 million cannot be reasonably assured. The disposition of Sunway Kids resulted in the recognition of a loss of approximately $0.8 million that is recorded in the accompanying consolidated statements of operations and comprehensive income (loss) in the caption of "loss from discontinued operations."
BVI-ACM [Member]
Disposition of purchase agreement		The Company, BVI-ACM, a wholly owned subsidiary of the Company, and Mr. Xianfu Han and Mr. Weili He (the "Purchasers"), two former officers (CEO and CFO) and collectively held less than 5% ordinary shares of the Company currently, entered into a share purchase agreement (the "Disposition SPA"). Pursuant to the Disposition SPA, the Purchasers agreed to purchase BVI-ACM in exchange for cash consideration of $600,000.

Other Receivables (Details)

Other Receivables (Details) - USD ($)		Jun. 30, 2020	Jun. 30, 2019
Other Receivables Net [Abstract]
Rent deposit		$ 2,300	$ 2,300
Receivables from disposal of Sunway Kids	[1]	1,000,000
Other receivables		$ 1,002,300	$ 2,300
[1]	The SK Purchaser promised to pay $2.4 million to the Company as per the executed agreement and it had subsequently settled $1.0 million of its payment obligations through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Since collection of the remaining $1.4 million cannot be reasonably assured, the Company only reported a receivable of $1.0 million as of June 30, 2020.

Other Receivables (Details Text

Other Receivables (Details Textual)	12 Months Ended
	Jun. 30, 2020
Other Receivables (Textual)
Other receivables, description	The SK Purchaser promised to pay $2.4 million to the Company as per the executed agreement and it had subsequently settled $1.0 million of its payment obligations through a tri-party settlement agreement executed on September 29, 2020 among the Company, SK Purchaser and the Asset Seller. Since collection of the remaining $1.4 million cannot be reasonably assured, the Company only reported a receivable of $1.0 million as of June 30, 2020.

Prepayments and Advances (Detai

Prepayments and Advances (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Prepayments and Advances [Abstract]
Prepayment for online concert	$ 1,000,000
Prepayment for program license fees	20,000
Prepayment for vehicle purchase	150,000
Prepayment for audit fees		25,000
Prepayments and advances	$ 1,170,000	$ 25,000

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Total	$ 3,958,335
Less: Accumulated depreciation
Property, plant and equipment, net	3,958,335
Performance equipment [Member]
Total	3,910,069
Office equipment [Member]
Total	$ 48,266

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Property, Plant and Equipment, Net (Textual)
Depreciation expense	$ 0	$ 0	$ 0

Loans payable - employees (Deta

Loans payable - employees (Details) - USD ($)		Jun. 30, 2020	Jun. 30, 2019
Total			$ 4,593,874
Less: other payables – related parties - discontinued operations			(4,285,785)
Other payables – related parties – continuing operations			308,089
Na Wang [Member]
Total	[1]		2,341,932
Wei Zhang [Member]
Total	[1]		$ 2,251,942
[1]	On January 15, 2020, Hou Sing, the Company's shareholder, entered into certain loan assignment agreements with Na Wang and Wei Zhang in the aggregate amount of RMB 29,429,627 (approximately $4.3 million) (the "Debt") and delivered the full payment to the two employees. On the same day, the board of directors of the Company approved the conversion of the Debt as well as the conversion of debt in the aggregate amount of $218,519 that the Company owed to Wei Zhang, at a per share conversion price of $1.54. On March 6, 2020, upon Nasdaq's approval, the Company issued 2,911,000 ordinary shares of the Company to Hou Sing and Wei Zhang in exchange for the debt.

Loans payable - employees (De_2

Loans payable - employees (Details Textual)	Mar. 06, 2020shares	Jan. 15, 2020USD ($)$ / shares	Jan. 15, 2020CNY (¥)
Loans payable - employees (Textual)
Aggregate amount		$ 218,519
Conversion price, per share | $ / shares		$ 1.54
Wei Zhang [Member]
Loans payable - employees (Textual)
Aggregate amount		$ 4,300,000
Common shares, issued | shares	2,911,000
Wei Zhang [Member] | RMB [Member]
Loans payable - employees (Textual)
Aggregate amount | ¥			¥ 29,429,627

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Total	$ 10,711	$ 540,000
Less: other payables – related parties - discontinued operations		(217,737)
Other payables – related parties – continuing operations	10,711	540,000
Xianfu Han [Member]
Total		361,336
Weili He [Member]
Total	$ 10,711	$ 396,401

Related Party Transactions (D_2

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Hou Sing [Member]
Related Party Transactions (Textual)
Borrowed amount	$ 300,000
Beijing Lianly [Member]
Related Party Transactions (Textual)
Acquisition percentage	99.00%
Related party of discontinued operations		$ 456,399
Other receivable – related party		$ 165,075
Xianfu Han [Member]
Related Party Transactions (Textual)
Ownership percentage	5.00%
Weili He [Member]
Related Party Transactions (Textual)
Related party transactions, description	The Company’s former officers and collectively held less than 5% ordinary shares of the Company currently, are holding positions as president and director of Ningbo Lianlv Investment Ltd., respectively.

Leases (Details)

Leases (Details)	Jun. 30, 2020USD ($)
Twelve Months Ending June 30,
2021	$ 42,988
Total lease payments	$ 42,988

Leases (Details Textual)

Leases (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Leases (Textual)
Operating lease expenses	$ 30,000	$ 28,000	$ 2,000
Annual payments of lease	$ 46,896

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Loss before provision for income taxes	$ (5,168,642)	$ (6,659,422)	$ (2,307,119)
Cayman [Member]
Loss before provision for income taxes	(4,851,668)	(6,470,553)	(2,307,119)
United States [Member]
Loss before provision for income taxes	(316,142)	(188,869)
Hong Kong [Member]
Loss before provision for income taxes	$ (832)

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Federal statutory rate	21.00%	21.00%
State statutory rate	5.60%	5.60%
Valuation allowance	(26.60%)	(26.60%)
Effective tax rate	0.00%	0.00%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Jun. 30, 2020	Jun. 30, 2019
Deferred tax assets
Net operating loss carryforward in the U.S.	$ 134,378	$ 50,256
Net operating loss carryforward in Hong Kong	137
Valuation allowance	(134,515)	(50,256)
Total net deferred tax assets

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Taxes (Textual)
Deferred tax asset allowance, percentage	(26.60%)	(26.60%)
Federal statutory income tax rate	21.00%	21.00%
State	5.60%	5.60%
Effective tax rate	0.00%	0.00%
Increased decreased in valuation allowance	$ 134,515
Deferred tax assets	$ 134,000	$ 50,000
Hong Kong [Member]
Income Taxes (Textual)
Federal statutory income tax rate	16.50%
Minimum [Member]
Income Taxes (Textual)
Increased decreased in valuation allowance		50,256
Maximum [Member]
Income Taxes (Textual)
Increased decreased in valuation allowance		$ 84,259
CACM and Baytao [Member]
Income Taxes (Textual)
Deferred tax asset allowance, percentage	100.00%	100.00%
Federal statutory income tax rate	7.10%
State	26.60%
Effective tax rate	21.00%
Net operating loss carryforward	$ 500,000	$ 200,000

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Restricted Stock [Member] - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Shares
Unvested, Beginning	660,000
Granted	180,000	720,000
Vested	(285,000)	(60,000)
Unvested, Ending	555,000	660,000
Weighted Average Grant Date Fair Value Per Share
Unvested, Beginning	$ 2.57
Granted	0.47	2.57
Vested	2.24	2.57
Unvested, Ending	$ 2.06	$ 2.57
Aggregate Intrinsic Value
Unvested, Beginning
Granted
Vested
Unvested, Ending	$ 471,750

Shareholders' Equity (Details 1

Shareholders' Equity (Details 1) - Warrant [Member]	12 Months Ended
	Jun. 30, 2020$ / sharesshares
Warrants Outstanding
Beginning balance | shares
Granted | shares	5,327,274
Forfeited | shares
Exercised | shares
Ending balance | shares	5,327,274
Weighted Average Exercise Price
Beginning balance | $ / shares
Granted | $ / shares	0.55
Forfeited | $ / shares
Exercised | $ / shares
Ending balance | $ / shares	$ 0.29
Average Remaining Contractual Life
Granted	5 years 6 months
Ending balance	5 years 3 months 22 days

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual)

May 08, 2020shares

Jan. 15, 2018shares

May 31, 2020USD ($)$ / sharesshares

Mar. 31, 2020USD ($)$ / sharesshares

Feb. 29, 2020$ / sharesshares

Jan. 31, 2020USD ($)$ / sharesshares

Jul. 31, 2019USD ($)$ / sharesshares

May 31, 2019USD ($)$ / sharesshares

Apr. 30, 2019USD ($)$ / sharesshares

Mar. 31, 2019USD ($)shares

Aug. 31, 2018USD ($)shares

Jul. 30, 2018USD ($)shares

May 31, 2018USD ($)$ / sharesshares

Apr. 30, 2018USD ($)$ / sharesshares

Jan. 31, 2018USD ($)shares

Aug. 31, 2016USD ($)shares

Jun. 30, 2020USD ($)$ / sharesshares

Jun. 30, 2019USD ($)shares

Jun. 30, 2018USD ($)$ / sharesshares

Jan. 31, 2020CNY (¥)

Shareholders' Equity (Textual)

Restricted common stock fair value | $

Shares of common stock, fair value | $

$ 1,320,000

$ 1,244,001

Amortization of deferred stock compensation | $

$ 100,000

Direct Offering Warrants [Member]

Shareholders' Equity (Textual)

Warrants, description

The sale of 2,600,000 ordinary shares, the Company also sold warrants ("Direct Offering Warrants") to purchase an aggregate of up to an aggregate of 2,600,000 ordinary shares to certain institutional investors on May 11, 2020. The warrants are exercisable immediately, at an exercise price of $0.55 per Ordinary Share and expire 5.5 years from the date of issuance. The fair value of this Direct Offering Warrants was $860,826, which was considered a direct cost of the direct offering and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following assumptions: market value of underlying share of $0.40, risk free rate of 0.36%; expected term of 5.5 years; exercise price of the warrants of $0.55, volatility of 123%; and expected future dividends of 0%. In August 2020, the exercise price of the warrants was amended and changed to $0.185 per Ordinary Share as a result of the July 20, 2020 direct offering.

The sales of 2,727,274 ordinary shares, the Company also sold warrants ("Direct Offering Warrants") to purchase an aggregate of up to an aggregate of 2,727,274 ordinary shares to certain institutional investors on April 2, 2020. The warrants are exercisable immediately, at an exercise price of $0.55 per Ordinary Share and expire 5.5 years from the date of issuance. The fair value of this Direct Offering Warrants was $916,334, which was considered a direct cost of the direct offering and included in additional paid-in capital. The fair value has been estimated using the Black-Scholes pricing model with the following assumptions: market value of underlying share of $0.41, risk free rate of 0.43%; expected term of 5.5 years; exercise price of the warrants of $0.55, volatility of 120%; and expected future dividends of 0%. In June 2020, the exercise price of the warrants was amended and changed to $0.04 per Ordinary Share as a result of the May 13, 2020 direct offering.

Third-party individuals [Member]

Shareholders' Equity (Textual)

Total proceeds | $

$ 1,200,000

$ 1,300,000

$ 2,000,000

$ 500,000

$ 150,000

$ 300,000

Shares of common stock

2,600,000

2,727,274

2,000,000

200,000

50,000

45,977

Stock price per share | $ / shares

$ 0.55

$ 0.55

Offering cost | $

$ 200,000

$ 200,000

Hou Sing [Member]

Shareholders' Equity (Textual)

Issuance date

Dec. 30, 2019

Aggregate shares of common stock

2,769,105

Shares of common stock

276,290

Sunway Kids [Member]

Shareholders' Equity (Textual)

Issuance date

Feb. 14, 2020

Closing price | $ / shares

$ 0.95

Shares of common stock

1,989,262

Color China [Member]

Shareholders' Equity (Textual)

Issuance date

Jun. 3, 2020

Closing price | $ / shares

$ 0.4238

Shares of common stock

4,633,333

Restricted Stock [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

240,000

240,000

Restricted common stock, vested

285,000

60,000

100,000

Compensation expense related to restricted stock grants | $

$ 600,000

$ 1,300,000

$ 1,200,000

Restricted Stock [Member] | Chief Executive Officer [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

720,000

Restricted common stock fair value | $

$ 1,850,400

2018 Plan [Member]

Shareholders' Equity (Textual)

Aggregate shares of common stock

550,000

Two Service Providers [Member]

Shareholders' Equity (Textual)

Issuance date

Jul. 19, 2019

Jun. 28, 2018

Closing price | $ / shares

$ 3.5

$ 5.65

Aggregate shares of common stock

500,000

Shares of common stock, fair value | $

$ 2,825,000

Amortization of deferred stock compensation | $

$ 2,800,000

$ 3,300,000

$ 2,825,000

Amortized over service period

1 year

1 year

Total proceeds | $

$ 400,000

Shares of common stock

1,758,000

Three Service Providers [Member]

Shareholders' Equity (Textual)

Issuance date

May 8, 2019

Closing price | $ / shares

$ 2.93

Amortized over service period

1 year

Total proceeds | $

$ 600,000

Shares of common stock

1,758,000

Chief Executive Officer [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

985,889

Restricted common stock fair value | $

$ 2,021,073

Issuance date

Apr. 3, 2018

Closing price | $ / shares

$ 2.05

Aggregate shares of common stock

633,932

Stock price per share | $ / shares

$ 1.54

Aggregate amount | $

$ 976,255

Chief Executive Officer [Member] | Restricted Stock [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

180,000

Restricted common stock fair value | $

$ 84,600

Two Employees [Member]

Shareholders' Equity (Textual)

Issuance date

Apr. 3, 2018

Closing price | $ / shares

$ 2.05

Aggregate shares of common stock

200,000

Shares of common stock, fair value | $

$ 410,000

Aggregate amount | $

$ 4,300,000

Two Employees [Member] | RMB [Member]

Shareholders' Equity (Textual)

Aggregate amount | ¥

¥ 29,429,627

Chief Financial Officer Member

Shareholders' Equity (Textual)

Restricted common stock, shares

900,000

896,766

Restricted common stock fair value | $

$ 1,838,370

Issuance date

Apr. 3, 2018

Closing price | $ / shares

$ 2.05

Five Employees [Member]

Shareholders' Equity (Textual)

Issuance date

May 21, 2018

Closing price | $ / shares

$ 2.70

Aggregate shares of common stock

218,336

Shares of common stock, fair value | $

$ 589,507

Three Employees [Member]

Shareholders' Equity (Textual)

Issuance date

May 28, 2018

Closing price | $ / shares

$ 2.40

Aggregate shares of common stock

550,000

Shares of common stock, fair value | $

$ 1,320,000

One Employee [Member] | Restricted Stock [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

56,859

Restricted common stock fair value | $

$ 244,494

Consultant [Member] | Restricted Stock [Member]

Shareholders' Equity (Textual)

Restricted common stock, shares

106,859

Restricted common stock fair value | $

$ 308,823

Second Tranche [Member]

Shareholders' Equity (Textual)

Restricted common stock, forfeited and cancelled

56,859

First Tranche [Member]

Shareholders' Equity (Textual)

Restricted common stock, vested

50,000

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) - USD ($)	May 08, 2020	Mar. 05, 2020	Mar. 27, 2019	Apr. 30, 2018
Chief Executive Officer [Member]
Total amount of compensation		$ 120,000
Compensation share amount			120,000
Ordinary shares vested		300,000
Restricted ordinary shares granted				985,889
Chief Financial Officer Member
Total amount of compensation	$ 120,000
Ordinary shares vested	120,000
Restricted ordinary shares granted	900,000			896,766

Concentrations of Risk (Details

Concentrations of Risk (Details)	12 Months Ended
	Jun. 30, 2020USD ($)
Concentrations of risk (Textual)
Deposited from banks	$ 500,000
Insurance coverage of each bank	$ 250,000

Subsequent events (Details)

Subsequent events (Details) - USD ($)	Sep. 04, 2020	Sep. 30, 2020	Sep. 15, 2020	Aug. 31, 2020	Aug. 21, 2020	Jul. 20, 2020	Jul. 17, 2020	Sep. 08, 2020	Jan. 31, 2020
Subsequent Event [Member]
Subsequent Events (Textual)
Aggregate of ordinary shares issued			13,200,000			3,225,000		793,651
Ordinary shares, par value			$ 0.50			$ 1.30		$ 0.63
Gross proceeds		$ 600,000		$ 600,000
Weighted exercise price		$ 0.11		$ 0.11
Asset purchase agreement, description					The Company entered into an Asset Purchase Agreement (“Agreement”) with a non-affiliated third party pursuant to which the Company purchased certain machinery and equipment for stage performances (the “Purchased Assets”) for a total purchase price of $6,818,000, of which $3,000,000 is to be paid in cash and the remaining $3,818,000 shall be paid in the form of 6,060,318 ordinary shares (the “Shares”) issued in August 2020, valued at $0.63 per share, the closing price of the Shares on August 20, 2020. $2,000,000 of the cash consideration was paid in August 2020 and the remaining $1,000,000 was settled in November 2020.
Subsequent Event [Member] | Common stock
Subsequent Events (Textual)
Conversion of shares		5,227,274		5,227,274
Subsequent Event [Member] | Warrant [Member]
Subsequent Events (Textual)
Conversion of shares		5,227,274		5,227,274
Subsequent Event [Member] | Securities Purchase Agreement [Member]
Subsequent Events (Textual)
Aggregate of ordinary shares issued			13,200,000			3,225,000
Ordinary shares, par value	$ 0.001		$ 0.001			$ 0.001
Warrants to purchase ordinary shares			11,880,000			2,096,252
Gross proceeds	$ 2,000,000		$ 6,600,000			$ 4,190,000
Warrants exercise price			$ 0.55			$ 1.50
Warrants term			5 years 6 months			5 years 6 months
Warrants purchase price per share			$ 0.50
Warrants, description	The first installment of $500,000 worth of shares, or 793,651 shares to be issued at $0.63 per share, was closed on September 9, 2020. The Company also agreed to issue 31,746 Ordinary Shares to the Purchaser as additional consideration for the purchase of the Shares on September 9, 2020. Each of the Purchaser and the Company has the right not to proceed with any subsequent installments, with or without cause by giving the other party notice. If the Purchaser and the Company proceed with subsequent installments, in no event shall the purchase price in any subsequent installment be lower than $0.52 per share.		The Warrants contain a mandatory exercise right for the Company to force a cash exercise of the Warrants if the Ordinary Shares trade at or above 400% of the purchase price per Share in the Offering (or $2.00) for 20 consecutive trading days. The Offering closed on September 17, 2020.			The warrants contain a mandatory exercise right for the Company to force a cash exercise of the warrants if the Company’s ordinary shares trade at or above 300% of the purchase price per Share in the Offering (or $3.90) for 20 consecutive trading days.
Yang (Sean) Liu [Member]
Subsequent Events (Textual)
Ordinary shares, par value									$ 1.54
Yang (Sean) Liu [Member] | Subsequent Event [Member]
Subsequent Events (Textual)
Ordinary shares vested							300,000
Amount of monthly salary							$ 20,000
Aggregate of ordinary shares issued							300,000
Biao Lu [Member] | Subsequent Event [Member]
Subsequent Events (Textual)
Amount of monthly salary							$ 6,000
Compensation shares received							300,000

Condensed financial informati_3

Condensed financial information of the parent company (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
CURRENT ASSETS:
Cash	$ 988,696	$ 319,514	$ 1,098,691	$ 224,679
Prepayments and advances		25,000
Total current assets	3,160,996	52,505,513
OTHER ASSETS:
Total other assets	3,958,335	1,659,520
Total assets	7,119,331	54,165,033
CURRENT LIABILITIES:
Other payables - shareholders	10,711	540,000
Total current liabilities	528,833	53,644,235
OTHER LIABILITIES:
Total liabilities	528,833	53,644,235
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred share, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding
Ordinary share, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and 7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively	25,624	7,175
Additional paid-in-capital	69,689,789	54,237,082
Deferred stock compensation	(1,201,183)	(3,161,200)
Deficit	(61,923,732)	(64,031,446)
Statutory reserves		6,248,092
Accumulated other comprehensive income		7,221,095
Total shareholders' equity	6,590,498	520,798	9,702,208	9,878,984
Total liabilities and shareholders' equity	7,119,331	54,165,033
Parent [Member]
CURRENT ASSETS:
Cash	793,234	60,122	$ 378,730	$ 456
Other receivables	1,002,300	2,300
Prepayments and advances	150,000	25,000
Total current assets	1,945,534	87,422
OTHER ASSETS:
Intercompany receivable	1,709,710	19,149,878
Investment in subsidiaries	3,457,764
Total other assets	5,167,474	19,149,878
Total assets	7,113,008	19,237,300
CURRENT LIABILITIES:
Other payables and accrued liabilities	511,799	203,292
Other payables - shareholders	10,711	540,000
Loans payable - employee		308,089
Total current liabilities	552,510	1,051,381
OTHER LIABILITIES:
Loss in excess of investment in subsidiaries		17,665,121
Total other liabilities		17,665,121
Total liabilities	552,510	18,716,502
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred share, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding
Ordinary share, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and 7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively	25,624	7,175
Additional paid-in-capital	69,689,789	54,237,082
Deferred stock compensation	(1,201,183)	(3,161,200)
Deficit	(61,923,732)	(64,031,446)
Statutory reserves		6,248,092
Accumulated other comprehensive income		7,221,095
Total shareholders' equity	6,590,498	520,798
Total liabilities and shareholders' equity	$ 7,113,008	$ 19,237,300

Condensed financial informati_4

Condensed financial information of the parent company (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
STOCK COMPENSATION EXPENSE	$ (3,444,617)	$ (4,592,200)	$ (1,388,501)
LOSS FROM OPERATIONS	(5,163,601)	(6,658,029)	(2,307,106)
OTHER INCOME (EXPENSE), NET
Interest income		84	13
Finance expense	(5,041)	(1,477)	(26)
TOTAL OTHER EXPENSE, NET	(5,041)	(1,393)	(13)
NET LOSS	(11,626,597)	(14,388,530)	(7,399,965)
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation income (loss)		(335,080)	347,097
COMPREHENSIVE LOSS	(11,626,597)	(14,723,610)	(7,052,868)
Parent [Member]
GENERAL AND ADMINISTRATIVE EXPENSES	(1,402,044)	(1,756,972)	(858,605)
STOCK COMPENSATION EXPENSE	(3,444,617)	(4,592,200)	(1,388,501)
LOSS FROM OPERATIONS	(4,846,661)	(6,349,172)	(2,247,106)
OTHER INCOME (EXPENSE), NET
Interest income		84	13
Finance expense	(5,007)	(1,465)	(26)
Equity loss of subsidiaries	(12,562,142)	(8,037,977)	(5,152,846)
Gain on sale of subsidiaries	5,787,213
TOTAL OTHER EXPENSE, NET	(6,779,936)	(8,039,358)	(5,152,859)
NET LOSS	(11,626,597)	(14,388,530)	(7,399,965)
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation income (loss)		(335,080)	347,097
COMPREHENSIVE LOSS	$ (11,626,597)	$ (14,723,610)	$ (7,052,868)

Condensed financial informati_5

Condensed financial information of the parent company (Details 2) - USD ($)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (11,626,597)	$ (14,388,530)	$ (7,399,965)
Adjustments to reconcile net loss to cash used in operating activities:
Stock compensation expense	3,444,617	4,592,200	1,388,501
Changes in operating assets and liabilities
Other receivables			(2,300)
Net cash used in operating activities	(2,535,135)	(1,076,142)	2,450,018
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities	(1,394,728)	(135,705)	(138,151)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of ordinary shares	4,502,901	950,000	600,000
Net cash provided by financing activities	4,795,607	522,667	(5,795,823)
CASH, beginning of year	988,696	319,514	1,098,691	$ 224,679
CASH, end of year	988,696	319,514	1,098,691	224,679
Parent [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(11,626,597)	(14,388,530)	(7,399,965)
Adjustments to reconcile net loss to cash used in operating activities:
Stock compensation expense	3,444,617	4,592,200	1,388,501
Equity loss of subsidiaries	12,562,142	8,037,977	5,152,846
Gain on sale of discontinued operations	(5,787,213)
Changes in operating assets and liabilities
Other receivables			(2,300)
Prepayments and advances	(125,000)	15,458	(40,458)
Intercompany receivables	(1,231,449)	(575,094)	(42,350)
Other payables and accrued liabilities	93,711	509,381	2,000
Other payables - related parties		540,000	720,000
Net cash used in operating activities	(2,669,789)	(1,268,608)	(221,726)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(2,000,000)
Proceeds from disposal of subsidiaries	600,000
Net cash used in investing activities	(1,400,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings from shareholders	300,000
Proceeds from sale of ordinary shares	4,502,901	950,000	600,000
Net cash provided by financing activities	4,802,901	950,000	600,000
NET CHANGE IN CASH	733,112	(318,608)	378,274
CASH, beginning of year	793,234	60,122	378,730	456
CASH, end of year	793,234	60,122	378,730	$ 456
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:
Accrued liabilities reclassified to loans payable - employees upon tri-party agreements		308,089
Ordinary shares issued to repay other payables - related parties and service providers	1,137,378	4,928,400	3,859,443
Ordinary shares issued to repay debt in subsidiary	5,240,679
Ordinary share issued for acquisition of subsidiary	1,889,799
Ordinary share issued for acquisition of equipment	1,963,607
Other receivables outstanding from disposal of subsidiary	1,000,000
Recognition of accrued liabilities from subsidiary	214,792
Derecognition of intercompany balance upon disposal of subsidiary	$ 23,164,488