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Other Non-Current Assets | 9 Months Ended
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Mar. 31, 2018
Other Non-Current Assets [Abstract] |
OTHER NON-CURRENT ASSETS | NOTE 6 - OTHER NON-CURRENT ASSETS Other non-current assets mainly include advance payments related to leasing land for use by the Company. As of March 31, 2018, the balance of other non-current assets was $17,291,085, consisting of the lease fee advances for agriculture lands that the Company engaged in Shiquan County from 2018 to 2027. In March 2017, Jinong entered into a lease agreement for approximately 3,400 mu, and 2600 hectare agriculture lands in Shiquan County, Shaanxi Province. The lease was from April 2017 and was renewable for every ten-year period up to 2066. The aggregate leasing fee was approximately RMB 13 million per annum, The Company had made 10-year advances of leasing fee per lease terms. The Company has amortized $1.6 million as expenses for the nine months ended March 31, 2018. Estimated amortization expenses of the lease advance payments for the next four twelve-month periods ended March 31 and thereafter are as follows:
Twelve months ending March 31, |  |  |
2019 |  | $ | 2,135,918 |
2020 |  | $ | 2,135,918 |
2021 |  | $ | 2,135,918 |
2022 |  | $ | 2,135,918 |
2023 and thereafter |  | $ | 10,883,332

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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