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LAND USE RIGHTS, NET
3 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
NOTE 5- LAND USE RIGHTS, NET
 
The Company states land use right at cost less accumulated amortization. All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” (the “Right”) to use the land. The Company has the Right to use the land for 50 years and amortizes the Right on a straight-line basis over the period of 50 years.
 
 
 
September 30, 2016
 
June 30, 2016
 
 
 
 
 
 
 
Land use rights
 
$
1,667,557
 
$
1,674,053
 
Less: accumulated amortization
 
 
(272,596)
 
 
(265,288)
 
Land use rights, net
 
$
1,394,961
 
$
1,408,765
 
 
For the three months ended September 30, 2016 and 2015, the Company incurred amortization expense of $8,342 and $8,873, respectively.
 
The estimated future amortization expenses are as follows:
 
Twelve months ending September 30:
 
 
 
 
 
 
 
2017
 
$
33,351
 
2018
 
 
33,351
 
2019
 
 
33,351
 
2020
 
 
33,351
 
2021
 
 
33,351
 
Thereafter
 
 
1,228,206
 
Total
 
$
1,394,961