As of March 31, 2014, the short-term loan payables consisted of twelve loans which mature on dates ranging from April 25, 2013 through March 23, 2015 with interest rates ranging from 5.60% to 7.80%. The loans No.1, 9 and 12 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 2,3 ,8,10 and 11 below are guaranteed by Jinong’s credit. The loans No. 5, 6 and 7 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No. 4 is guaranteed by Jinong’s credit and Tianjuyuan’s credit.

No.	Payee	Loan period per agreement	Interest Rate			March 31, 2014
1	Agriculture Bank of China-Pinggu Branch	April 25, 2013 - April 24, 2014		6.60	%	$	1,639,230
2	Industrial and Commercial Bank of China	December 20, 2013 - June 19, 2014		5.60	%		4,869,000
3	China Merchants Bank	Feb 25, 2014 - August 14, 2014		6.90	%		2,028,750
4	Bank of Beijing- Pinggu Branch	August 16,2013-August 15, 2014		7.20	%		1,623,000
5	Beijing International Trust Co., Ltd	Sep 25,2013-Sep 24, 2014		7.80	%		1,623,000
6	Beijing International Trust Co., Ltd	Oct 30, 2013-Oct 29, 2014		7.80	%		1,623,000
7	Beijing International Trust Co., Ltd	Dec 12, 2013-Dec 11, 2014		7.80	%		1,623,000
8	Bank of Tianjin- Beijing Branch	Jan 08, 2014 - Jan 07,2015		6.60	%		5,680,500
9	Agriculture Bank of China-Pinggu Branch	Jan 15, 2014-Jan 14, 2015		6.60	%		1,363,320
10	Bank of Tianjin- Beijing Branch	Jan 23, 2014- Jan 22, 2015		6.00	%		3,051,240
11	China Merchants Bank	Feb,19 2014- Feb 18, 2015		7.20	%		2,434,500
12	Agriculture Bank of China-Pinggu Branch	March 24,2014- March 23, 2015		6.60	%		1,298,400
	Total					$	28,856,940

As of June 30, 2013, the short-term loan payables consisted of nine loans which mature on dates ranging from August 29, 2013 through April 22, 2014 with interest rates ranging from 6.30% to 8.20%. The loans No.1, 2 and 3 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 4 and 5 below are collateralized by the inventory of Gufeng. The loans No. 6, 7 and 8 are guaranteed by Jinong’s credit. The loan No. 9 is collateralized by the land use rights of Jinong’s and the share ownership owned by Jinong.

No.	Payee	Loan period per agreement	InterestRate			June 30, 2013
1	Agriculture Bank of China-Beijing Branch	January 24, 2013 - January 13, 2014		6.60	%	$	1,359,120
2	Agriculture Bank of China-Beijing Branch	March 23, 2013 - March 22, 2014		6.60	%		1,294,400
3	Agriculture Bank of China-Beijing Branch	April 25, 2013 - April 24, 2014		6.60	%		1,634,180
4	Bank of Tianjin	June 28, 2013 - August 2, 2013		6.72	%		1,132,600
5	Bank of Tianjin	June 20, 2013 - August 2, 2013		6.72	%		970,800
6	China Merchant Bank	August 30, 2012 - August 29, 2013		6.30	%		4,045,000
7	Industrial and Commercial Bank of China	October 25, 2012 - October 24,2013		8.00	%		1,618,000
8	Industrial and Commercial Bank of China	September 25, 2012-September 24, 2013		8.00	%		1,618,000
9	China Minsheng Bank	January 5, 2013 - January 4, 2014		7.20	%		2,427,000
		Total				$	16,099,100