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LOAN PAYABLES | 6 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Short-term Debt [Text Block] | NOTE 8- LOAN PAYABLES As of December 31, 2015, the short-term loan payables consisted of ten loans which mature on dates ranging from January 21, 2015 through August 2, 2016 with interest rates ranging from 5.20% to 6.96%. The loans No. 1 and 5 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No.3 is collateralized by deposit. The loan No. 2 is collateralized by Jinong’s land use right and Jinong’s credit. The loans No. 4, 6 and 7 are guaranteed by Jinong’s credit. The loan No.8 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  | December 31, 2015 |
| 1 |  | Agriculture Bank of China-Pinggu Branch |  | Jan 21, 2015 - Jan 20, 2016 |  |  | 6.16 | % | $ | 1,232,000 |
| 2 |  | Bank of Tianjin- Beijing Branch |  | Feb 3, 2015 - Jan 27, 2016 |  |  | 6.16 | % |  | 6,160,000 |
| 3 |  | Bank of Tianjin- Beijing Branch |  | Feb 11, 2015 - Feb 10, 2016 |  |  | 5.60 | % |  | 4,342,800 |
| 4 |  | China Merchants Bank- Chaoyangmen Branch |  | Mar 16, 2015 - Mar 15, 2016 |  |  | 6.96 | % |  | 770,000 |
| 5 |  | Agriculture Bank of China-Pinggu Branch |  | May 12, 2015 - Apr 29, 2016 |  |  | 5.89 | % |  | 2,002,000 |
| 6 |  | Bank of Beijing- Pinggu Branch |  | Aug 11, 2015- Aug 2, 2016 |  |  | 5.82 | % |  | 1,540,000 |
| 7 |  | China Merchants Bank- Cahoyangmen Branch |  | Sep 9, 2015- Mar 8, 2016 |  |  | 5.20 | % |  | 1,540,000 |
| 8 |  | Beijing International Trust Co., Ltd |  | Nov 17, 2015- Feb 13, 2016 |  |  | 5.22 | % |  | 1,232,000 |
|  |  | Total |  |  |  |  |  |  | $ | 18,818,800 |
As of June 30, 2015, the short-term loan payables consisted of ten loans which mature on dates ranging from August 6, 2014 through April 29, 2016 with interest rates ranging from 5.60% to 7.80%. The loans No. 6 and 10 were collateralized by Tianjuyuan’s land use right and building ownership right. The loan No. 8 was collateralized by Gufeng’s deposit. The loan No.7 was collateralized by Jinong’s land use right and Jinong’s credit. The loans No. 2 and 9 were guaranteed by Jinong’s credit. The loans No. 3, 4 and 5 were guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No. 1 was guaranteed by Jinong and Tianjuyuan’s deposit.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  | June 30, 2015 |
| 1 |  | Beijing Bank – Pinggu Branch |  | Aug 6, 2014 – Aug 5, 2015 |  |  | 6.72 | % | $ | 1,637,000 |
| 2 |  | China Merchants Bank – Chaoyang Branch |  | Aug 27, 2014 – Aug 26, 2015 |  |  | 7.80 | % |  | 1,637,000 |
| 3 |  | Beijing International Trust Co., Ltd |  | Sep 24, 2014 – Sep 23, 2015 |  |  | 7.80 | % |  | 1,637,000 |
| 4 |  | Beijing International Trust Co., Ltd |  | Oct 28, 2014 – Oct 27, 2015 |  |  | 7.80 | % |  | 1,637,000 |
| 5 |  | Beijing International Trust Co., Ltd |  | Dec 26, 2014 – Dec 15, 2015 |  |  | 7.28 | % |  | 1,637,000 |
| 6 |  | Agriculture Bank of China-Pinggu Branch |  | Jan 21, 2015 – Jan 20, 2016 |  |  | 6.16 | % |  | 1,309,600 |
| 7 |  | Tianjin Bank – Beijing Branch |  | Feb 3, 2015 – Jan 27, 2016 |  |  | 6.16 | % |  | 6,548,000 |
| 8 |  | Tianjin Bank – Beijing Branch |  | Feb 11, 2015 – Feb 10, 2016 |  |  | 5.60 | % |  | 4,616,340 |
| 9 |  | China Merchants Bank – Chaoyang Branch |  | Mar 16, 2015 – Mar 15, 2016 |  |  | 6.96 | % |  | 818,500 |
| 10 |  | Agriculture Bank of China-Pinggu Branch |  | May 12, 2015 – Apr 29, 2016 |  |  | 5.89 | % |  | 2,128,100 |
|  |  | Total |  |  |  |  |  |  | $ | 23,605,540 |
The interest expense from short-term loans were $731,679 and $815,659 for the six months ended December 31, 2015 and 2014, respectively.

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