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Loan Payables | 6 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
LOAN PAYABLES | NOTE 9- LOAN PAYABLES As of December 31, 2018, the short-term loan payables consisted of two loans which mature on dates ranging from May 21 through June 18, 2019, with interest rates ranging from 5.22% to 6.31%. Both loans are collateralized by Tianjuyuan’s land use right and building ownership right.
No. |  | Payee |  | Loan period per agreement |  | Interest Rate |  |  | December 31, 2018 |
1 |  | Bank of Beijing - Pinggu Branch |  | May 22, 2018-May 21, 2019 |  |  | 5.22 | % |  |  | 1,454,000 |
2 |  | Postal Saving Bank of China - Pinggu Branch |  | June 19, 2018-June 18, 2019 |  |  | 6.31 | % |  |  | 2,908,000 |
|  | Total |  |  |  |  |  |  |  | $ | 4,362,000 |
The interest expense from short-term loans was $312,264 and $274,162 for the six months ended December 31, 2018 and 2017, 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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