XML 33 R14.htm IDEA: XBRL DOCUMENT
v3.24.3

Other Non-Current Assets | 12 Months Ended
--- | ---
Jun. 30, 2024
Other Non-Current Assets [Abstract] |
OTHER NON-CURRENT ASSETS | NOTE 7 – OTHER NON-CURRENT ASSETS Other non-current assets mainly include advance payments related to rent the land use for the Company and long-term equity investment. As of June 30, 2024, the balance of other non-current assets was $8,226,344. Among them, $4,450,000 was long-term equity investment, and $3,267,874 was the rental fee advances for agriculture lands that the Company engaged in Shiquan County from 2026 to 2027. In March 2017, Jinong entered into the rental agreement for approximately 3,400 mu, and 2600-hectare agriculture lands in Shiquan County, Shaanxi Province. The rental agreement was from April 2017 and was renewable for every ten-year period up to 2066. The aggregate rental fee was approximately RMB 13 million per annum, The Company had made 10-year advances of rental fee per rental terms. The Company has amortized $1.8 million as expenses for the year ended June 30, 2024 and $1.8 million as expenses for the year ended June 30, 2023. Estimated amortization expenses of the rental advance payments herein for the next three twelve-month periods ended June 30 and thereafter are as follows:
Years ending June 30, |  |  |
2025 |  | $ | 1,845,938 |
2026 |  | $ | 1,845,938 |
2027 |  | $ | 1,421,936 |

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: | dtr-types: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