LOAN PAYABLES

12 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

NOTE 11 - LOAN PAYABLES

The short-term loans payable consist of eight loans which mature on dates ranging from July 23, 2012 through April 22, 2013 interest rates ranging from 6.89% to 8.87%. The loans are collateralized by the Company’s land use rights.

				Interest			June 30,
No.		Payee	Loan period per agreement	Rate			2012		2011
	1	Agriculture Bank of China-Beijing Branch	January 11, 2012 - January 10, 2013		6.89	%	$	1,330,560	$	1,299,480
	2	Agriculture Bank of China-Beijing Branch	March 23, 2012 -  March 22, 2013		8.2	%		1,267,200		1,237,600
	3	Agriculture Bank of China-Beijing Branch	April 23, 2012 - April 22, 2013		7.26	%		1,599,840		1,562,470
	4	Bank of Tianjin	September 9, 2011 - July 23, 2012		7.54	%		1,813,680		-
	5	Minsheng Bank	September 8, 2011 - September 8, 2012		8.2	%		1,814,372		-
	6	Minsheng Bank	September 19, 2011 - September 19, 2012		8.2	%		561,628		-
	7	China Merchant Bank	July 25, 2011 - July 26, 2012		8.53	%		3,960,000		-
	8	Industrial and Commercial Bank of China	October 17, 2011 - October 17,2012		8.87	%		1,584,000		-
							$	13,931,280	$	4,099,550

The interest expense from short-term loans were $1,590,620, $466,912 and $112,475 for the years ended June 30, 2012, 2011 and 2010, respectively.