CONCENTRATION AND RISKS

12 Months Ended

Jun. 30, 2016

Concentration Risk Disclosure [Text Block]

NOTE 13 - CONCENTRATION AND RISKS

The Company maintains certain bank accounts in the PRC which are not protected by Federal Deposit Insurance Corporation (“FDIC”) insurance or other insurance. The cash balance held in the PRC bank accounts was $21,986,817 and $4,683,945 as of June 30, 2016 and 2015, respectively.

During the years ended June 30, 2016 and 2015, almost 100% of the Company's assets were located in the PRC and 100% of the Company's revenues were derived from its subsidiaries located in the PRC.

For the year ended June 30, 2016, one customer accounted for approximately 40% of the Company’s total sales. For the year ended June 30, 2015, two customers accounted for approximately 33% and 10% of the Company’s total sales, respectively.

For the year ended June 30, 2016, three vendors accounted for approximately 25%, 13% and 11% of the Company’s total purchases, respectively. For the year ended June 30, 2015, one vendor accounted for approximately 42% of the Company’s total purchases.