LAND USE RIGHTS, NET

3 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

LAND USE RIGHTS, NET

NOTE 8 - LAND USE RIGHTS, NET

Land use rights are recognized at cost less accumulated amortization. According to the Chinese laws and regulations regarding land use rights, land in urban districts is owned by the state, while land in the rural areas and suburban areas, except otherwise provided for by the state, is collectively owned by individuals designated as resident farmers by the state. However, in accordance with the legal principle that land ownership is separate from the right to the use of the land, the government grants the user a “land use right” to use the land. The Company has the land use right to use the land for 50 years and amortizes the rights on a straight-line basis over the period of 50 years.

	September 30, 2021		June 30, 2021
Land use rights	$	-	$	1,722,396
Less: accumulated amortization		-		(448,134	)
Total land use rights, net		-		1,274,262
Less: land use rights, net, held for discontinued operations		-		1,274,262
Land use rights, net, held for continuing operations	$	-	$	-

For the three months ended September 30, 2021 and 2020, amortization expenses from the continuing operations were both US$ nil. For the three months ended September 30, 2021 and 2020, the Company recognized amortization expenses from the discontinued operations of US$ nil and US$9,300, respectively.