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LOAN PAYABLES | 3 Months Ended
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Sep. 30, 2013
Debt Disclosure [Abstract] |
Short-term Debt [Text Block] | NOTE 10 - LOAN PAYABLES As of September 30, 2013, the short-term loan payables consist of ten loans which mature on dates ranging from October 24, 2013 through September 24, 2014 with interest rates ranging from 5.60% to 8.00%. The loans No.1, 2 and 3 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 4 and 5 below are guaranteed by Jinong’s credit. The loans No. 6 and 7 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No. 8, 9 and 10 are guaranteed by Jinong’s credit.
|  |  |  |  |  | Interest |  |  | September 30, |
No. |  | Payee |  | Loan period per agreement |  | Rate |  |  | 2013 |
1 |  | Agriculture Bank of China-Beijing Branch |  | January 14, 2013 - January 13, 2014 |  | 6.60 | % |  | $ | 1,362,480 |
2 |  | Agriculture Bank of China-Beijing Branch |  | March 23, 2013 - March 22, 2014 |  | 6.60 | % |  |  | 1,297,600 |
3 |  | Agriculture Bank of China-Beijing Branch |  | April 25, 2013 - April 24, 2014 |  | 6.60 | % |  |  | 1,638,220 |
4 |  | China Merchant Bank |  | August 20, 2013-February 18, 2014 |  | 6.72 | % |  |  | 4,055,000 |
5 |  | China Minsheng Bank |  | January 5, 2013-January 4, 2014 |  | 7.20 | % |  |  | 2,433,000 |
6 |  | Industrial and Commercial Bank of China |  | October 25, 2012-October 24, 2013 |  | 8.00 | % |  |  | 811,000 |
7 |  | Industrial and Commercial Bank of China |  | September 25, 2013-September 24, 2014 |  | 7.80 | % |  |  | 1,622,000 |
8 |  | Bank of Beijing |  | August 16, 2013 - August 15, 2014 |  | 7.20 | % |  |  | 811,000 |
9 |  | Bank of Beijing |  | August 19, 2013-August 18, 2014 |  | 7.20 | % |  |  | 811,000 |
10 |  | Industrial and Commercial Bank of China |  | September 29, 2013 - December 29, 2013 |  | 5.60 | % |  |  | 1,459,800 |
|  |  |  | Total |  |  |  |  | $ | 16,301,100 |
As of June 30, 2013, the short-term loan payables consist of nine loans which mature on dates ranging from August 29, 2013 through April 22, 2014 with interest rates ranging from 6.30% to 8.20%. The loans No.1, 2 and 3 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 4 and 5 below are collateralized by the inventory of Gufeng. The loans No. 6, 7 and 8 are guaranteed by Jinong’s credit. The loan No. 9 is collateralized by the land use rights of Jinong’s and the share ownership owned by Jinong.
|  |  |  |  |  | Interest |  |  |  |
No. |  | Payee |  | Loan period per agreement |  | Rate |  |  | June 30, 2013 |
1 |  | Agriculture Bank of China-Beijing Branch |  | January 24, 2013 - January 13, 2014 |  | 6.60 | % |  | $ | 1,359,120 |
2 |  | Agriculture Bank of China-Beijing Branch |  | March 23, 2013 - March 22, 2014 |  | 6.60 | % |  |  | 1,294,400 |
3 |  | Agriculture Bank of China-Beijing Branch |  | April 25, 2013 - April 24, 2014 |  | 6.60 | % |  |  | 1,634,180 |
4 |  | Bank of Tianjin |  | June 28, 2013 - August 2, 2013 |  | 6.72 | % |  |  | 1,132,600 |
5 |  | Bank of Tianjin |  | June 20, 2013 - August 2, 2013 |  | 6.72 | % |  |  | 970,800 |
6 |  | China Merchant Bank |  | August 30, 2012 - August 29, 2013 |  | 6.30 | % |  |  | 4,045,000 |
7 |  | Industrial and Commercial Bank of China |  | October 25, 2012 - October 24,2013 |  | 8.00 | % |  |  | 1,618,000 |
8 |  | Industrial and Commercial Bank of China |  | September 25, 2012-September 24, 2013 |  | 8.00 | % |  |  | 1,618,000 |
9 |  | China Minsheng Bank |  | January 5, 2013 - January 4, 2014 |  | 7.20 | % |  |  | 2,427,000 |
|  |  |  | Total |  |  |  |  | $ | 16,099,100 |
The interest expense from short-term loans were $233,186 and $385,792 for the three months ended September 30, 2013 and 2012, respectively.

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 13 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -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=6877327&loc=d3e13212-122682 + Details
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