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Related Parties Transactions
3 Months Ended
Dec. 31, 2016
Related Parties Transactions [Abstract]  
RELATED PARTIES TRANSACTIONS

6. RELATED PARTIES TRANSACTIONS

 

During the three months ended December 31, 2016, the Company provided a one-time consulting service to LionGene Corporation for $70,000. Since both LionGene and the Company are related parties and under common control by a controlling beneficiary shareholder of YuanGene Corporation, the controlling beneficiary shareholder of the Company, the Company has recorded the full amount of $70,000 as additional paid-in capital as of December 31, 2016.

 

As of December 31, 2016 and September 30, 2016, the amount due to a related party, BioLite, Inc. (“Biolite”) was $6,500,000 and $6,500,000 respectively.