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PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Mar. 31, 2012

Property, Plant and Equipment [Abstract]

Property Plant and Equipment Excluding Construction Progress Disclosure [Text Block]

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following as of March 31, 2012 and June, 30, 2011:

		March 31,				June 30,
		2012				2011
Building and improvements		$	34,479,543			$	44,032,549
Auto			1,553,397				1,491,849
Machinery and equipment			48,085,620				32,862,361
Agriculture assets			3,487,551				1,607,333
Total property, plant and equipment			87,606,111				79,994,092
Less: accumulated depreciation			(17,652,837	)			(13,782,651	)
Total		$	69,953,274			$	66,211,441

Depreciation expenses for the three months ended March 31, 2012 and 2011 were $1,176,912 and $1,097,773, respectively. Depreciation expenses for the nine months ended March 31, 2012 and 2011 were $3,524,788 and $2,813,573, respectively.

Agriculture assets consist of reproductive trees that are expected to be commercially productive for a period of eight years.

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- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software exclude construction in progress. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References

No definition available.

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