COMMITMENTS AND CONTINGENCIES

3 Months Ended

Sep. 30, 2015

Leases of Lessee Disclosure [Text Block]

NOTE 13 - COMMITMENTS AND CONTINGENCIES

On June 29, 2014, 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, 2014 with monthly rent of $3,848 (RMB 24,480).

In February 2004, Tianjuyuan signed a fifty-year lease with the village committee of Dong Gao Village and Zhen Nan Zhang Dai Village in the Beijing Ping Gu District, at a monthly rent of $480 (RMB 3,053).

Accordingly, the Company recorded an aggregate of $1,440 and $3,975 as rent expenses for the three months ended September 30, 2015 and 2014, respectively. Rent expenses for the next five years months ended September 30, are as follows:

Years ending September 30,
2016	$	1,440
2017		1,440
2018		1,440
2019		1,440
2020		1,440