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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2016

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The options expire ten years after the date of grant, on January 31, 2025.

Stock price at grant date		$	1.65
Exercise price (per share)		$	1.65
Risk free rate of interest***			1.49	%
Dividend yield			0.0	%
Life of option (years)**			6.5
Volatility*			297	%

* Volatility is projected using the performance of the Company’s common share performances.

** The life of options represents the average period the option is expected to be outstanding.

*** The risk-free interest rate is based on the Chinese international bond denominated in U.S. dollar, with a maturity that approximates the life of the option.

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The following is a summary of the stock options activity:

Stock Options		Shares			Weighted Average Exercise Price Per  Share
Outstanding as of June 30, 2014			415,600		$	4.37
Granted			400,000			1.65
Forfeited			-			-
Exercised			-			-
Outstanding as of June 30, 2015			815,600		$	3.04
Granted			-			-
Forfeited			-			-
Exercised			-			-
Outstanding as of June 30, 2016			815,600		$	3.04

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]

The following is a summary of the status of options outstanding and exercisable at June 30, 2016:

Outstanding Options							Exercisable Options
Average Exercise Price			Number		Average  Remaining  Contractual  life (Years)		Average Exercise  Price			Number		Average  Remaining  Contractual  life (Years)
$	6.00		193,000		3.08		$	6.00		193,000		3.08
$	2.96		222,600		5.74		$	2.96		148,400		5.74
$	1.65		400,000		8.59		$	1.65		133,333		8.59
			815,600

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

Following is a summary of the restricted stock grants:

Restricted stock grants		Shares
Non-vested as of June 30, 2014			230,362
Granted			414,000
Cancelled			(10,000)
Vested			(180,787)
Non-vested as of June 30, 2015			453,575
Granted			1,160,185
Cancelled			-
Vested			(536,972)
Non-vested as of June 30, 2016			1,076,787

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Tabular disclosure of the number of fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term for both options (or share units) currently outstanding and options (or share units) exercisable (or convertible).

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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