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Other Non-Current Assets | 6 Months Ended
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Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [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 December 31, 2019, the balance of other non-current assets was $14,155,985, which was the lease fee advances for agriculture lands that the Company engaged in Shiquan County from 2019 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 million as expenses for the six months ended December 31, 2019. Estimated amortization expenses of the lease advance payments for the next four twelve-month periods ended December 31 and thereafter are as follows:
Twelve months ending December 31, |  |  |
2020 |  | $ | 1,927,830 |
2021 |  | $ | 1,927,830 |
2022 |  | $ | 1,927,830 |
2023 |  | $ | 1,927,830 |
2024 and thereafter |  | $ | 6,444,665 |

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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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