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Short-Term Loans (Tables)
 3 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of short-term loans

Lender  September 30,
2019		   Maturity
Date		  Int.
Rate/Year		 
Agricultural Bank of China-b   630,402   2019/11/13*   3.92%
Agricultural Bank of China-c   1,400,894   2020/2/25   5.66%
Agricultural Bank of China-c   280,179   2020/8/26   5.60%
Total  $2,311,475         

 

Lender  June 30,
2019		   Maturity
Date		  Int.
Rate/Year		 
MY Bank-a   7,282   2019-8-29*   15.80%
Agricultural Bank of China-b   291,256   2019-8-12*   5.66%
Agricultural Bank of China-b   655,327   2019-11-13*   3.92%
Agricultural Bank of China-c   1,456,282   2020-2-25   5.66%
Total  $2,410,147         

 

a. Not collateralized or guaranteed.

 

b. Guaranteed by a commercial credit guaranty company, unrelated to the Company and also by Jiping Chen, a shareholder of the Company.

 

c. Collateralized by the building owned by Xiaoyan Chen and Jing Chen, who are both related parties of the Company. Xiaoyan Chen is one of the shareholders of Ankang Longevity Group. Jing Chen is the sister of the Xiaoyan Chen but not a shareholder of Ankang Longevity Group.

 

* The Company repaid the loan in full on maturity date.