AMOUNT DUE TO RELATED PARTIES

3 Months Ended

Sep. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 9 - AMOUNT DUE TO RELATED PARTIES

As of September 30, 2013 and June 30, 2013, the amount due to related parties was $1,206,895 and $1,304,013, respectively.  These amounts that Gufeng borrowed from a related party,  Xi’an Techteam Science & Technology Industry (Group) Co. Ltd., a company controlled by Mr. Tao Li, Chairman and CEO of the Company, represent unsecured, non-interest bearing loans that are due on demand.  These loans are not subject to written agreements.

On August 10, 2010, Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd (“Yuxing”), a VIE of the Company, entered into an agreement with Xi’an Kingtone Information Technology Co., Ltd. (“Kingtone Information”), the contractually-controlled operating subsidiary of Kingtone Wirelessinfo Solution Holding Ltd (“Kingtone”), whose Chairman is Mr. Tao Li, who is also the Company’s Chairman and CEO. Pursuant to the agreement, Kingtone Information was responsible for developing certain electronic control systems for Yuxing. The total contracted value of this agreement, including value-added taxes and other taxes, is RMB3,030,000, or approximately US$458,000. The project is currently ongoing, and RMB 1,212,000 or $183,200 had been paid by Yuxing to Kingtone as of September 30, 2013

On September 30, 2010, Jinong signed a two-year lease effective as of July 1, 2010 with Kingtone Information, who owns the property. According to the lease agreement, the monthly rent is $1,596 (RMB10,800). This lease expired on June 30, 2012.

On June 29, 2012,Jinong signed a new office lease with Kingtone Information. Pursuant to the new 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 RMB24,480 (approximately $3,856).