XML 30 R15.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Loan Payables | 12 Months Ended
--- | ---
Jun. 30, 2018
Loan Payables [Abstract] |
LOAN PAYABLES | NOTE 9 – LOAN PAYABLES As of June30, 2018, the short-term loan payables consisted of four loans which mature on dates ranging from June 18, 2018 through May 21, 2019 with interest rates ranging from 4.35% to 6.31%. No. 1 is guaranteed with parent company’s credit for Jinong. Loans No. 2 and 3 below are collateralized by Tianjuyuan’s land use right and building ownership right. Loan No. 4 is guaranteed by the cash deposit.
No. |  | Payee |  | Loan period per agreement |  |  | Interest Rate |  |  | December 31, 2017 |
1 |  | Beijing Agriculture Investment -small loan |  |  | August 4, 2017-July 30 2018 |  |  |  | 5.50 | % |  |  | 151,000 |
2 |  | Bank of Beijing - Pinggu Branch |  |  | May 22, 2018-May 21, 2019 |  |  |  | 5.22 | % |  |  | 1,510,000 |
3 |  | Postal Saving Bank of China - Pinggu Branch |  |  | June 19, 2018-June 18, 2019 |  |  |  | 6.31 | % |  |  | 3,020,000 |
4 |  | Agriculture Bank -Pinggu Branch |  |  | June 28, 2017-September 27, 2018 |  |  |  | 4.35 | % |  |  | 45,300 |
|  | Total |  |  |  |  |  |  |  |  |  | $ | 4,726,300 |
The interest expense from short-term loans was $592,153 and $549,650 for the year ended June 30, 2018 and 2017, respectively.

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 The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
Name: | us-gaap_ShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration