COMMITMENTS AND CONTINGENCIES

9 Months Ended

Mar. 31, 2016

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 $3,797 (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 3,119).

Accordingly, the Company recorded an aggregate of $16,898 and $5,505 as rent expenses for the nine months ended March 31, 2016 and 2015, respectively. Rent expenses for the next five years ended March 31, are as follows:

Years ending March 31,
2017	$	16,896
2018		5,505
2019		5,505
2020		5,505
2021		5,505