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Land Use Rights
 3 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
LAND USE RIGHTS

NOTE 5 - LAND USE RIGHTS

 

Land use rights are recognized at cost less accumulated amortization. According to the Chinese laws and regulations regarding land use rights, land in urban districts is owned by the State, while land in the rural areas and suburban areas, except otherwise provided for by the State, is collectively owned by individuals designated as resident farmers by the State. However, in accordance with the legal principle that land ownership is separate from the right to the use of the land, the government grants the user a "land use right" (the "Right") to use the land. The Company has the Right to use the land for 50 years and amortizes the rights on a straight-line basis over the period of 50 years.

  

   September 30,
2019		   June 30,
2019		 
Land use rights  $1,558,211   $1,619,820 
Less: accumulated amortization   (349,907)   (355,511)
Land use rights, net  $1,208,304   $1,264,309 

 

For the three months ended September 30, 2019 and 2018, the Company recognized amortization expense of US$ 9,214 and US$ 9,638, respectively.

 

The estimated future amortization expenses are as follows:

 

Twelve months ending September 30:    
     
2019  $31,164 
2020   31,164 
2021   31,164 
2022   31,164 
2023   31,164 
Thereafter   1,052,484 
Total  $1,208,304