v2.4.0.6

INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax benefit for the years ended June 30, 2012 and June 30, 2011 are as follows:

		For the years ended June 30,
		2012				2011
Current
USA		$	(29,768	)		$	5,412
China			-				-
			(29,768	)			5,412
Deferred
Allowance for doubtful accounts			58,000				(12,000	)
Stock-based compensation			92,000				84,000
Net operating loss carryforward			240,000				41,000
Valuation allowance			(240,000	)			(41,000	)
Net deferred			150,000				72,000
Total		$	120,232			$	77,412

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation between the expected federal income tax rate using the federal statutory tax rate of 35 percent to the Company’s effective income tax rate is as follows:

		For the years ended June 30,
		2012				2011
		%				%
U.S. expected federal income tax benefit			(35.00	)			(35.00	)
U.S. state, local tax net of federal (benefit) expense			(10.87	)			15.95
U.S. permanent difference			0.78				0.60
U.S. temporary difference			28.89				15.35
Permanent difference related to other countries			9.50				3.15
Other			2.60				(5.87	)
Total tax benefit			(4.10	)			(5.82	)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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