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Commitments and Contingencies
 12 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE 16 – COMMITMENTS AND CONTINGENCIES

 

On July 1, 2018, Jinong signed an office lease with Kingtone Information Technology Co., Ltd. (“Kingtone Information”), of which Mr. Zhuoyu Li, Chairman and CEO of the Company, served as Chairman. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provides for a two-year term effective as of July 1, 2018 with monthly rent of RMB24,480 (approximately $3,588).

 

In February 2004, Tianjuyuan signed a fifty-year lease with the village committee of Dong Gao Village and Zhen Nan Zhang Dai Village in the Beijing Ping Gu District, at a monthly rent of $434 (RMB 2,958).

 

Accordingly, the Company recorded an aggregate of $48,257 and $$53,536 as rent expenses for the years ended June 30, 2019 and 2018 respectively. The contingent rent expenses herein for the next five years ended June 30, are as follows:

 

Years ending June 30,    
2020   48,257 
2021   48,257 
2022   48,257 
2023   48,257 
2024   48,257