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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Jun. 30, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 427,466 $ 347,486
Accounts and notes receivable, net 31,872,958 37,010,458
Inventories 448,951 511,160
Other receivables, net 2,475,883 1,423,563
Other receivable - related party 162,790 165,075
Prepayments and advances, net 14,968,833 12,566,372
Prepayment - related party 248,250 456,399
Prepaid expenses 25,000
Total current assets 50,605,131 52,505,513
PROPERTY, PLANT AND EQUIPMENT, net 1,047,617 1,659,520
OTHER ASSETS    
Operating lease right-of-use assets 1,178,468
Total other assets 1,178,468
Total assets 52,831,216 54,165,033
CURRENT LIABILITIES:    
Short term bank loans - in default 24,345,129 24,686,899
Accounts payable 14,986,278 12,841,076
Customer deposits 630,127 635,762
Other payables 332,253 372,913
Other payables - related parties 768,449 757,737
Loans payable - employees 4,444,970 4,593,874
Accrued liabilities 4,337,346 3,083,929
Taxes payable 151,388 80,860
Operating lease liabilities 154,990
Accrued contingent liabilities 6,781,141 6,591,185
Total current liabilities 56,932,071 53,644,235
OTHER LIABILITIES    
Operating lease liabilities - noncurrent 734,171
Total other liabilities 734,171
Total liabilities 57,666,242 53,644,235
COMMITMENTS AND CONTINGENCIES (Note 15)
SHAREHOLDERS' (DEFICIENCY) EQUITY:    
Preferred share, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding
Ordinary share, $0.001 par value, 74,000,000 shares authorized, 7,850,916 and 7,174,626 shares issued and outstanding as of December 31, 2019 and June 30, 2019, respectively 7,851 7,175
Additional paid-in-capital 56,025,976 54,237,082
Deferred stock compensation (2,732,133) (3,161,200)
Deficit (71,533,486) (64,031,446)
Statutory reserves 6,248,092 6,248,092
Accumulated other comprehensive income 7,148,674 7,221,095
Total shareholders' (deficiency) equity (4,835,026) 520,798
Total liabilities and shareholders' (deficiency) equity $ 52,831,216 $ 54,165,033