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Property, Plant and Equipment, Net

12 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net

Note 6 – Property, plant and equipment, net

Property, plant and equipment consist of the following:

		June 30, 2019				June 30, 2018
Machinery and equipment		$	783,426			$	917,017
Transportation equipment			3,983,361				4,399,356
Office equipment			1,121,186				1,221,704
Buildings and improvements			491,127				458,718
Construction-in-progress			74,659				-
Total			6,453,759				6,996,795
Less: Accumulated depreciation and amortization			(4,794,239	)			(4,248,386	)
Property, plant and equipment, net		$	1,659,520			$	2,748,409

Depreciation expense amounted to approximately $1.1 million, $1.2 million and $1.2 million for the years ended June 30, 2019, 2018 and 2017, respectively.

Construction-in-progress consist of the following as of June 30, 2019:

Construction-in-progress description		Value				Estimated Completion date		Estimated Additional Cost to Complete
Overhaul and transformation of concrete mixers		$	32,038			December 2019		$	-
Installation of material device to concrete mixers			18,932			December 2019			-
Painting work for assembling and stirring unit and offices			16,310			December 2019			-
Installation of smoke purifier for dining room			7,379			December 2019			-
Total construction-in-progress		$	74,659					$	-

These construction projects were fully pre-paid as of June 30, 2019.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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