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Bank Loans (Tables)

12 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of outstanding balances of bank loans

		As of June 30,
		2021				2020
Loan from Bank of Shanghai Pudong Development		$	4,425,504				-
Loan from Bank of Communication			3,097,605			$	1,132,327
Loans from Development Bank of Singapore			23,374				60,681
Loans from China Merchants Bank			-				990,785
Total bank loans		$	7,546,483			$	2,183,793
Less: Non-current portion			(9,644	)			(22,554	)
Short -term bank loans and long-term bank loans – current portion		$	7,536,839			$	2,161,239

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- References

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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