v3.10.0.1
Advances to Suppliers (Details) - USD ($)
Jun. 30, 2018
Jun. 30, 2017
Schedule of advances to suppliers    
Deposit for ERP [1] $ 437,357
Deposit for IT infrastructure [2] 1,002,750
Freight fees [3] 564,365 29,960
Others 140,513 24,930
Total advances to suppliers-third parties $ 2,144,985 $ 54,890
[1] On December 27, 2017, with the approval of the Board, the Company signed a contract with Tianjin Anboweiye Technology Ltd Co. ("Tianjin Anboweiye"), to develop a more complete ERP system based on the Company"s current operations and projected future growth. In March 2018, the Company paid a deposit to start phase one of the development which includes upgraded accounting and human resources modules, new order processing and customer relationship management system. The Company paid a $437,357 deposit to Tianjin Anboweiye as of June 30, 2018. The total contract price for phase one amounted to RMB 4,000,000, approximately USD 615,000. The project is currently in the planning and design stage. The Company expects the planning stage will be completed in and will start development in October 2018. The remaining balance will be settled upon completion of services in fiscal year 2021.
[2] On June 22, 2018, the Company entered into contract to improve its IT infrastructure. The total contract for the services is $1.2 million and the Company paid a deposit of $1.0 million. The contract includes four parts: $420,000 for hardware leasing of twelve months; $480,000 for onsite services and IT consulting for a two year period; $60,000 for operating system set up and $240,000 for continuing integration and with the ERP system and data management for two years. The system is expected to be installed in October 2018.
[3] The prepaid freight fee is the Company's advances made for various shipping cost for shipments in July 2018.