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Intangible assets, net | 12 Months Ended
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Jun. 30, 2019
Intangible assets, net |
Intangible assets, net | Note 7 – Intangible assets, net Intangible assets consist of the following:
|  | June 30, 2019 |  | June 30, 2018
Land use rights |  | $ | 603,774 |  | $ | 626,048
Less: accumulated amortization |  |  | (141,036) |  |  | (133,718)
Net intangible assets |  | $ | 462,738 |  | $ | 492,330
Amortization expense for the years ended June 30, 2019, 2018 and 2017 amounted to $12,147, $12,747 and $12,177, respectively. As of June 30, 2019, land use right recorded at RMB 10,198,100 (approximately $1.5 million) was pledged as collateral to secure a loan that a related party borrowed from a bank (see Note 9). The estimated amortization is as follows:
|  | Estimated
Twelve months ending June 30, |  | amortization expense
2020 |  | $ | 12,147
2021 |  |  | 12,147
2022 |  |  | 12,147
2023 |  |  | 12,147
2024 |  |  | 12,147
Thereafter |  |  | 402,003
Total |  | $ | 462,738

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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