AMOUNT DUE TO RELATED PARTIES

9 Months Ended

Mar. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 10 - AMOUNT DUE TO RELATED PARTIES

As of March 31, 2013 and June 30, 2012, the amount due to related parties was $1,186,723 and $370,719, respectively.  These amounts represent unsecured, non-interest bearing loans that are due on demand.  These loans are not subject to written agreements.

During the quarter ended September 30, 2012, the Company entered into a related party transaction to borrow $1,115,800 (RMB 7,000,000) from Xi’an Techteam Science and Technology (Group) Co., Ltd, a company controlled by Mr. Tao Li, Green Nevada’s Chairman, President and CEO. The amount borrowed is non interest bearing and does not contain a specific maturity date.

On August 10, 2010, Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd (“Yuxing”) which is a subsidiary of the Company, entered into an agreement with Xi’an Kingtone Information Co., Ltd. (“Kingtone Information”) which was responsible for developing certain electronic control systems for Yuxing. Kingtone Information is a Variable Interest Entity controlled by Kingtone Wirelessinfo Solution Holding Ltd. (Nasdaq: KONE), whose Chairman and majority shareholder is Mr. Tao Li, Green Nevada’s Chairman, President and CEO. The total contracted value of this agreement, including value-added taxes and other taxes, is RMB 3,030,000, or approximately $480,255. The performance of the agreement has not been completed due to force majeure arising from the relocation of Jintai and the concurrent construction in Yuxing.

On June 29, 2012, Jinong signed an office lease with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2012 with monthly rent of RMB 24,480 (approximately $3,880).