XML 62 R14.htm IDEA: XBRL DOCUMENT
v3.19.3

Loan receivables | 12 Months Ended
--- | ---
Jun. 30, 2019
Loan receivables |
Loan receivables | Note 8 – Loan receivables On November 1, 2015, the Company and Hunan Huade Food Co., Ltd. (“Hunan Huade”), a third party, entered into loan contract due on June 30, 2018 for RMB 8 million (approximately $1.2 million) which was subsequently repaid. As of June 30, 2018 remaining interest receivable totaled $1,957,720. In fiscal 2019, the Company reassessed the collectability of this and determined the remaining interest and determined the collectability was remote, therefore, provided 100% allowance on such remaining balance as of June 30, 2019. The Company no longer recognizes accrued interest income. As of June 30, 2019 and 2018, the total loan receivable from Hunan Huade was $0 and $1,957,720 net of allowance balance of $0 and $1,480,136, respectively. During the years ended June 30, 2019, 2018 and 2017, the interest income from the loan was $0, $384,788 and $735,200, respectively.

X
- References No definition available. + Details
Name: | us-gaap_LoansAndLeasesReceivableDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesExcludingAllowanceForCreditLossesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration