v3.8.0.1

Prepaid Expenses and Other Assets

9 Months Ended

Mar. 31, 2018

Prepaid Expenses and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

Note 5. PREPAID EXPENSES AND OTHER ASSETS

The Company’s prepaid expenses and other current assets are as follows:

		March 31,				June 30,
		2018				2017
Consultant fees (1)		$	39,537			$	158,150
Advance to employees			74,199				64,160
Other (including prepaid insurance, rent , public relation services)			283,632				95,708
Total			397,368				318,018
Less: current portion			397,368				311,136
Total noncurrent portion		$	-			$	6,882

(1) The Company entered into a management consulting services agreement with a consulting company on November 12, 2015, pursuant to which the consulting company shall assist the Company with its regulatory filings during the period from July 1, 2016 to June 30, 2018. In return for its services, as approved by the Board, a total of RMB 2,100,000 ($316,298) was paid to the consulting company. The above-mentioned consulting fees have been and will be ratably charged to expense over the terms of the above-mentioned agreement.

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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