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PREPAID LEASES (Tables)

12 Months Ended

Jun. 30, 2016

PREPAID LEASES [Abstract]

Schedule of Long Term Prepaid Expenses [Table Text Block]

The prepaid leases consist of the following:

		June 30, 2016			June 30, 2015
Current		$	478,565		$	521,235
Non-current			3,860,327			4,719,320
Total		$	4,338,892		$	5,240,555

Schedule of Operating Lease Further Amortization Expense [Table Text Block]

Further amortization expense is as follows:

Twelve months ending June 30:
2017		$	478,565
2018			475,304
2019			475,304
2020			475,304
2021			475,304
Thereafter			1,959,111
Total		$	4,338,892

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Tabular disclosure of the carrying amounts of the long term prepaid expenses.

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- Definition

Tabular disclosure of operating lease further amortization expense for each of the five succeeding fiscal years for operating leases having initial or remaining non-cancellable lease terms in excess of one year and the total unamortized expenses to be amortized in the future under non-cancellable subleases as of the balance sheet date.

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