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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) | 6 Months Ended |  |
--- | --- | --- | ---
Dec. 31, 2015 USD ($) | Dec. 31, 2014 USD ($) | Dec. 31, 2015 CNY (¥) | Jun. 30, 2015 USD ($)
Amortization of Deferred Assets | $ 21,430,699 | $ 32,153,216 |  |
Deferred Asset, Amortization Expense, Next Twelve Months | 26,315,270 |  |  |
Deferred Asset, Amortization Expense, Year Two | 3,781,241 |  |  |
Deposits, Total | 77,000 |  | ¥ 500,000 |
China Banks [Member] |  |  |  |
Interest-bearing Deposits in Banks and Other Financial Institutions | 99,567,375 |  |  | $ 92,676,188
United States Banks [Member] |  |  |  |
Interest-bearing Deposits in Banks and Other Financial Institutions | 107,189 |  |  | $ 306,376
Cash, FDIC Insured Amount | $ 500,000 |  |  |

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