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Loan Payables (Tables) | 12 Months Ended
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Jun. 30, 2017
Loan Payables & Convertible Notes Payable [Abstract] |
Summary of loan payables |
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | June 30, 2017 |
1 |  | Bank of Beijing-Pinggu Branch |  | June 28, 2016 -July 28, 2017 |  |  | 5.22 | % |  | $ | 1,502,360 |
2 |  | Postal Saving Bank of China - Pinggu Branch |  | March 24, 2017 – March 5, 2018 |  |  | 6.31 | % |  |  | 4,507,080 |
3 |  | Bank of Beijing - Pinggu Branch |  | June 9, 2017-June 8, 2018 |  |  | 5.22 | % |  |  | 1,502,360 |
4 |  | Bank of China-Anhui |  | November 25, 2016-October25, 2017 |  |  | LPR | * |  | $ | 166,311 |
|  | Total |  |  |  |  |  |  |  | $ | 7,678,111 |
*LPR stands for Loan Prime Rate. The LPR rate is a 1-year lending rate for commercial banks to lend for their top graded loan borrowers usually with equivalent interbank credit worthiness in China. The LPR rate is a variable rate and was published along with Shanghai Interbank Offer Rates daily.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | June 30, 2016 |
1 |  | Agriculture Bank of China-Pinggu Branch |  | May. 18, 2016 - Mar. 17, 2017 |  |  | 4.87 | % |  | $ | 1,953,068 |
2 |  | Beijing Bank - Pinggu Branch |  | Aug. 11, 2015- Aug. 2, 2016 |  |  | 5.82 | % |  |  | 1,502,360 |
3 |  | Agriculture Bank of China-Pinggu Branch |  | Jan. 19, 2016 – Jan. 17, 2017 |  |  | 5.00 | % |  |  | 1,201,888 |
|  | Total |  |  |  |  |  |  |  | $ | 4,657,316 |

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- 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
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