XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.8.0.1

RELATED PARTY TRANSACTIONS | 3 Months Ended
--- | ---
Sep. 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. As of September 30, 2017 and June 30, 2017, the outstanding amounts due from related parties consist of the following:
|  | September 30, 2017 |  | June 30, 2017 |
Yang Bin |  | $ | 150,265 |  | $ | 147,550 |
Zhang Xin |  |  | 93,164 |  |  | 91,480 |
Chang Song |  |  | 74,381 |  |  | 73,037 |
Zhang Xinyu |  |  | 62,572 |  |  | 61,441 |
Zhang Hua |  |  | 42,074 |  |  | 28,034 |
Beijing Huiyinansheng Asset Management Co., Ltd |  |  | 22,540 |  |  | 22,132 |
Zhang Yuying |  |  | - |  |  | 15,567 |
Wang Qiwei |  |  | 8,266 |  |  | 8,117 |
Tian Shuangpeng |  |  | 1,503 |  |  | 1,475 |
|  | $ | 454,765 |  | $ | 448,833 |
DUE TO RELATED PARTIES As of September 30, 2017 and June 30, 2017, the Company had related party payables of $305,191 and $257,880, 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.
|  | September 30, 2017 |  | June 30, 2017 |
Wu Yang |  | $ | 96,245 |  | $ | 94,505 |
Wang Sai |  |  | 115,830 |  |  | 71,942 |
Zhao Min |  |  | 93,116 |  |  | 91,433 |
|  | $ | 305,191 |  | $ | 257,880 |
SALES TO RELATED PARTIES For the three months ended September 30, 2017 and 2016, the Company recorded sales to Shaanxi Pharmaceutical Group, a related party , of $771,604 and $800,199, respectively. As of September 30, 2017 and June 30, 2017, the balance of accounts receivable due from Shaanxi Pharmaceutical Group was $1,790,094 and $2,205,453, respectively.

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration