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Related party transactions and balances (Tables) | 12 Months Ended
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Jun. 30, 2019
Related party transactions and balances |
Summary of revenues from related parties | a. Revenues – related parties:
|  |  |  | For the Year |  | For the Year |  | For the Year
|  |  |  | Ended June 30, |  | Ended June 30, |  | Ended June 30,
Name of related party |  | Relationship |  | 2019 |  | 2018 |  | 2017
Chongqing Mingwen Food Co., Ltd. (“CQ Mingwen”) |  | President is the daughter-in-law of the Company’s Chief Executive Officer (“CEO”) |  | $ | — |  | $ | 36,091 |  | $ | 66,525
Chongqing Pengmei Supermarket Co., Ltd (“CQ Pengmei”) |  | Indirectly owned by CEO and CEO’s spouse |  |  | — |  |  | 334,147 |  |  | —
|  |  |  | $ | — |  | $ | 370,238 |  | $ | 66,525
Summary of accounts receivables from related parties | a. Accounts receivable – related party:
Name of related party |  | Relationship |  | June 30, 2019 |  | June 30, 2018 |
CQ Pengmei |  | Significantly influenced by Penglin |  | $ | — |  | $ | 56,955 | (1)
| (1) |  | On July 2, 2018, the Company acquired CQ Pengmei and the balance was eliminated upon acquisition subsequent to July 2, 2018.
Summary of customer deposit from related parties | b. Customer deposit – related party:
Name of related party |  | Relationship |  | June 30, 2019 |  | June 30, 2018
CQ Mingwen |  | Significantly influenced by Penglin |  | $ | 29,643 |  | $ | 31,482
Summary of other receivables from related parties |
Name of related party |  | Relationship |  | June 30, 2019 |  | June 30, 2018 |
CQ Pengmei |  | Significantly influenced by Penglin |  | $ | — |  | $ | 373,065 | (2)
(2) On July 2, 2018, the Company acquired CQ Pengmei and the balance was eliminated upon acquisition subsequent to July 2, 2018.
Summary of other payables to related parties |
Name of related party |  | Name of related party |  | June 30, 2019 |  | June 30, 2018
Xia Wang |  | Chief Financial Officer |  | $ | 83,619 |  | $ | 30,015
Zeshu Dai |  | CEO |  |  | 659,420 |  |  | 486,418
Penglin Wang |  | Son of the CEO |  |  | 162,047 |  |  | 33,425
Zili Zhang |  | CEO of CQ Pengmei |  |  | 429,448 |  |  | —
|  |  |  | $ | 1,334,534 |  | $ | 549,858
Summary of short-term loans by related parties |
|  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |
|  |  |  |  |  |  | average |  | Collateral/ |  |  |  |  |  |
Short term loans |  | Relationship |  | Maturities |  |  | interest rate |  | Guarantee |  | June 30, 2019 |  | June 30, 2018
Xia Wang |  | Chief Financial Officer |  | February 20, 2020 |  |  | 9.60 | % | None |  |  | 104,852 |  |  | —
Penglin Wang |  | Son of CEO |  | December 27, 2019 |  |  | 9.60 | % | None |  |  | 224,268 |  |  | —
Total |  |  |  |  |  |  |  |  |  |  | $ | 329,120 |  | $ | —

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