XML 45 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
INVESTMENTS (Tables)
 12 Months Ended
Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments [Table Text Block]
The Company’s investments in unconsolidated entities consist of the following:
 
 
 
June 30, 2017
 
June 30, 2016
 
 
 
 
 
 
 
Shaanxi Pharmaceutical Holding Group Longevity Pharmacy Co., Ltd. (Ankang Longevity Pharmacy)
 
$
2,744,391
 
$
2,091,531
 
Shaanxi Pharmaceutical Sunsimiao Drugstores Ankang Chain Co., Ltd.
 
 
611,228
 
 
493,008
 
Zhejiang Zhen’Ai Network Warehousing Services Co., Ltd.
 
 
2,139,461
 
 
2,182,308
 
Original Lab Inc.
 
 
200,000
 
 
-
 
Total
 
$
5,695,080
 
$
4,766,847
 
Equity Method Investments Summarized Financial Information [Table Text Block]
Summarized financial information of unconsolidated entities is as follows:
 
 
 
June 30, 2017
 
June 30, 2016
 
 
 
 
 
 
 
Current assets
 
$
32,880,168
 
$
28,450,106
 
Noncurrent assets
 
 
281,162
 
 
386,764
 
Current liabilities
 
 
26,328,322
 
 
23,577,799
 
 
 
 
For the years ended June 30,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
Net sales
 
$
29,869,223
 
$
25,456,718
 
Gross profit
 
 
4,011,307
 
 
3,382,468
 
Income from operations
 
 
1,671,820
 
 
1,071,742
 
Net income
 
 
1,668,578
 
 
1,086,377