XML 26 R13.htm IDEA: XBRL DOCUMENT
v3.20.4

Other Non-Current Assets | 6 Months Ended
--- | ---
Dec. 31, 2020
Other Assets Noncurrent [Abstract] |
OTHER NON-CURRENT ASSETS | NOTE 7 – 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, 2020, the balance of other non-current assets was $10,803,381, which was the lease fee advances for agriculture lands that the Company engaged in Shiquan County from 2021 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 and $1 million as expenses for the six months ended December 31, 2020 and 2019, respectively. 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, |  |  |
2022 |  | $ | 2,054,025 |
2023 |  | $ | 2,054,025 |
2024 |  | $ | 2,054,025 |
2025 and thereafter |  | $ | 4,641,306 |

X
- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
Name: | us-gaap_OtherAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OtherAssetsNoncurrentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration