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Loan Payables | 12 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
LOAN PAYABLES | NOTE 9 – LOAN PAYABLES As of June 30, 2019, the short-term loan payables consisted of four loans which mature on dates ranging from June 3, 2019 through June 27, 2020 with interest rates ranging from 5.22% to 6.31%. No. 1 and 2 below are collateralized by Tianjuyuan's land use right and building ownership right. Loan No. 2 is also guaranteed by the cash deposit.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | June 30, 2019 |
1 |  | Postal Saving Bank of China - Pinggu Branch |  | June 3, 2019-June 2, 2020 |  |  | 6.31 | % |  |  | 2,912,000 |
2 |  | Agriculture Bank -Pinggu Branch |  | June 28, 2019-June 27, 2020 |  |  | 5.22 | % |  |  | 728,000 |
|  | Total |  |  |  |  |  |  |  | $ | 3,640,000 |
The interest expense from short-term loans was $318,122 and $592,153 for the year ended June 30, 2019 and 2018 respectively.

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- 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
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