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Other Non-Current Assets | 9 Months Ended
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Mar. 31, 2020
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 March 31, 2020, the balance of other non-current assets was $13,282,157, which was the lease fee advances for agriculture lands that the Company engaged in Shiquan County from 2020 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 $1.4 million as expenses for the Nine Months ended March 31, 2020. 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, |  |  |
2021 |  | $ | 1,894,268 |
2022 |  | $ | 1,894,268 |
2023 |  | $ | 1,894,268 |
2024 |  | $ | 1,894,268 |
2025 and thereafter |  | $ | 5,705,087 |

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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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