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Property and Equipment

9 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

		March 31, 2019				June 30, 2018
Buildings		$	12,263,987			$	12,433,157
Building improvements			81,116				82,599
Machinery and equipment			962,398				922,065
Motor vehicles			83,432				84,583
Construction in progress			80,226				40,524
Office equipment			227,148				179,624
Farmland leasehold improvements			3,133,455				3,176,677
			16,831,762				16,919,229
Less: accumulated depreciation and amortization			(5,592,994	)			(5,221,925	)
Property and equipment, net		$	11,238,768			$	11,697,304

Depreciation and amortization expense charged to operations was US$ 439,807 and US$ 460,146 for the nine months ended March 31, 2019 and 2018, respectively. Depreciation and amortization expense charged to operations was US$ 132,035 and US$ 183,708 for the three months ended March 31, 2019 and 2018, respectively.

Farmland leasehold improvements consist of following:

		March 31, 2019				June 30, 2018
Blueberry farmland leasehold improvements		$	2,407,259			$	2,440,465
Yew tree planting base reconstruction			269,702				273,422
Greenhouse renovation			456,494				462,790
Total farmland leasehold improvements		$	3,133,455			$	3,176,677

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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