EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table presents a reconciliation of basic and diluted net income per share:

	For the years ended June 30,
	2016		2015
Net income	$	8,292,822	$	7,440,400
Net income attributable to common stock holders		8,136,896		7,280,278
Weighted average shares used in basic computation		19,320,882		19,320,882
Diluted effect of contingently redeemable convertible preferred stock		-		-
Weighted average shares used in diluted computation		19,320,882		19,320,882
Earnings per share – Basic and diluted:
Net income		0.43		0.39
Less: Net income attributable to non-controlling interest		(0.01)		(0.01)
Net income attributable to controlling interest		0.42		0.38