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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Jun. 30, 2017
Related Party Transactions [Abstract] |
Related Party Transactions Disclosure [Text Block] | NOTE 10 - RELATED PARTY TRANSACTIONS DUE FROM RELATED PARTIES The Company had previously made temporary advances to certain shareholders of the Company and to other entities that are either owned by family members of those shareholders or to other entities that the Company has investments in. Those advances are due on demand, non-interest bearing, except for the advance to Xinyang Yifangyuan Garden Technology Co., Ltd., which bears fixed monthly interest rate of 4.17%. As of June 30, 2017 and 2016, the outstanding amounts due from related parties consist of the following:
|  | June 30, 2017 |  | June 30, 2016 |
Yang Bin |  |  | 147,550 |  |  | 150,504 |
Zhang Xin |  |  | 91,480 |  |  | 93,312 |
Chang Song |  |  | 73,037 |  |  | 85,035 |
Zhang Xinyu |  |  | 61,441 |  |  | - |
Zhang Hua |  |  | 28,034 |  |  | - |
Beijing Huiyinansheng Asset Management Co., Ltd |  |  | 22,132 |  |  | - |
Zhang Yuying |  |  | 15,567 |  |  | - |
Wang Qiwei |  |  | 8,117 |  |  | 8,279 |
Qi Qiuchi |  |  | - |  |  | 1,505 |
Tian Shuangpeng |  |  | 1,475 |  |  | 11,288 |
Xinyang Yifangyuan Garden Technology Co., Ltd |  |  | - |  |  | 500,784 |
|  | $ | 448,833 |  | $ | 850,707 |
For the years ended June 30, 2017 and 2016, interest income of $86,355 and $261,015, respectively, was recognized on these loans and included in “Interest income, net” on the consolidated statements of income and comprehensive income. DUE TO RELATED PARTIES As of June 30, 2017 and 2016, the Company had related party payables of $257,880 and $244,915, respectively, mainly due to the principal shareholders or certain relatives of the shareholders of the Company who lend funds for the Company’s operations. The payables are unsecured, non-interest bearing and due on demand.
|  | June 30, 2017 |  | June 30, 2016 |
Wu Yang |  |  | 94,505 |  |  | 96,398 |
Wang Sai |  |  | 71,942 |  |  | 120,854 |
Zhao Min |  |  | 91,433 |  |  | - |
Zhang Yuying |  |  | - |  |  | 26,769 |
Beijing Huiyinansheng Asset Management Co., Ltd |  |  | - |  |  | 894 |
|  | $ | 257,880 |  | $ | 244,915 |
SALES TO RELATED PARTIES For the years ended June 30, 2017 and 2016, the Company recorded sales to Shaanxi Pharmaceutical Group , a related party , of $3,038,195 and $3,014,198, respectively. As of June 30, 2017 and 2016, the balance of accounts receivable due from Shaanxi Pharmaceutical Group was $2,205,453 and $1,908,871, respectively.

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- References No definition available. + Details
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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