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Foreign Operations
12 Months Ended
Jun. 30, 2015
Foreign Currency [Abstract]  
Foreign Operations

13. Foreign Operations

 

Assets and liabilities denominated in non-U.S. currencies are translated at rates of exchange prevailing on the balance sheet date, and revenues and expenses are translated at average rates of exchange for the period. Gains or losses on the translation of the financial statements of a non-U.S. operation, where the functional currency is other than the U.S. dollar, are reflected as a separate component of equity, which was a gain of $50,680 and $51,681 at June 30, 2015 and 2014, respectively. The Company as of June 30, 2015 had approximately $8,862,000 in assets and $7,305,000 in net assets located in China. The Company as of June 30, 2014 had approximately $7,575,000 in assets and $6,280,000 in net assets located in China.