XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Other Non-Current Assets | 9 Months Ended
--- | ---
Mar. 31, 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 leasing land for use by the Company. As of March 31, 2024, the balance of other non-current assets was $6,314,128 and $3,745,576 was the lease fee advances for agriculture lands that the Company engaged in Shiquan County from 2026 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 and $1.5 million as expenses for the nine months ended March 31, 2024 and 2023, respectively. 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, |  |  |
2025 |  | $ | 1,872,788 |
2026 |  | $ | 1,872,788 |
2027 |  | $ | 1,872,788 |

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