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PROPERTY, PLANT AND EQUIPMENT
9 Months Ended
Mar. 31, 2013
Property, Plant and Equipment [Abstract]  
Property Plant and Equipment Excluding Construction Progress Disclosure [Text Block]

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consist of the following:

 

    March 31,     June 30,  
    2013     2012  
Building and improvements   $ 35,432,738     $ 36,174,009  
Auto     719,151       835,412  
Machinery and equipment     79,664,618       63,280,923  
Agriculture assets     3,183,253       3,163,286  
Total property, plant and equipment     118,999,760       103,453,630  
Less: accumulated depreciation     (32,425,817 )     (23,388,469 )
Total   $ 86,573,943     $ 80,065,161  

 

Depreciation expenses for the three months ended March 31, 2013 and 2012 were $3,622,264 and $1,176,912, respectively. Depreciation expenses for the nine months ended March 31, 2013 and 2012 were $8,850,655 and $3,524,788, respectively.

 

Agriculture assets consist of reproductive trees that are expected to be commercially productive for a period of eight years.