XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.4.0.3

LOAN PAYABLES (Tables) | 9 Months Ended
--- | ---
Mar. 31, 2016
Debt Disclosure [Abstract] |
Schedule of Debt [Table Text Block] | As of March 31, 2016, the short-term loan payables consisted of three loans which mature on dates ranging from April 29, 2016 through January 17, 2017 with interest rates ranging from 5.00% to 5.82%. The loans No. 1 and 3 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 2 is guaranteed by Jinong’s credit.
No. |  | Payee |  | Loan Period per agreement |  | Interest Rate |  | March 31, 2016 |
1 |  | Agriculture Bank of China-Pinggu Branch |  | May 12, 2015 – Apr. 29, 2016 |  |  | 5.80 | % | $ | 2,016,300 |
2 |  | Bank of Tianjin- Beijing Branch |  | Aug. 11, 2015 – Aug. 2, 2016 |  |  | 5.82 | % |  | 1,551,000 |
3 |  | Agriculture Bank of China-Pinggu Branch |  | Jan. 19, 2016 – Jan. 17, 2017 |  |  | 5 | % |  | 1,240,800 |
|  | Total |  |  |  |  |  |  | $ | 4,808,100 |
As of June 30, 2015, the short-term loan payables consisted of ten loans which mature on dates ranging from August 5, 2015 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 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration