As of March 31, 2016, the short-term loan payables consisted of three loans which mature on dates ranging from April 29, 2016 through January 17, 2017 with interest rates ranging from 5.00% to 5.82%. The loans No. 1 and 3 below are collateralized by Tianjuyan’s land use right and building ownership right. The loans No. 2 is guaranteed by Jinong’s credit.

No.	Payee	Loan Period per agreement	Interest Rate			March 31, 2016
1	Agriculture Bank of China-Pinggu Branch	May 12, 2015 – Apr. 29, 2016		5.80	%	$	2,016,300
2	Bank of Tianjin- Beijing Branch	Aug. 11, 2015 – Aug. 2, 2016		5.82	%		1,551,000
3	Agriculture Bank of China-Pinggu Branch	Jan. 19, 2016 – Jan. 17, 2017		5	%		1,240,800
	Total					$	4,808,100

As of June 30, 2015, the short-term loan payables consisted of ten loans which mature on dates ranging from August 5, 2015 through April 29, 2016 with interest rates ranging from 5.60% to 7.80%. The loans No. 6 and 10 were collateralized by Tianjuyuan’s land use right and building ownership right. The loan No. 8 was collateralized by Gufeng’s deposit. The loan No.7 was collateralized by Jinong’s land use right and Jinong’s credit. The loans No. 2 and 9 were guaranteed by Jinong’s credit. The loans No. 3, 4 and 5 were guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No. 1 was guaranteed by Jinong and Tianjuyuan’s deposit.

No.	Payee	Loan period per agreement	Interest Rate			June 30, 2015
1	Beijing Bank – Pinggu Branch	Aug. 6, 2014 – Aug. 5, 2015		6.72	%	$	1,637,000
2	China Merchants Bank – Chaoyang Branch	Aug. 27, 2014 – Aug. 26, 2015		7.80	%		1,637,000
3	Beijing International Trust Co., Ltd	Sep. 24, 2014 – Sep. 23, 2015		7.80	%		1,637,000
4	Beijing International Trust Co., Ltd	Oct. 28, 2014 – Oct. 27, 2015		7.80	%		1,637,000
5	Beijing International Trust Co., Ltd	Dec. 26, 2014 – Dec. 15, 2015		7.28	%		1,637,000
6	Agriculture Bank of China-Pinggu Branch	Jan. 21, 2015 – Jan. 20, 2016		6.16	%		1,309,600
7	Tianjin Bank – Beijing Branch	Feb. 3, 2015 – Jan. 27, 2016		6.16	%		6,548,000
8	Tianjin Bank – Beijing Branch	Feb. 11, 2015 – Feb. 10, 2016		5.60	%		4,616,340
9	China Merchants Bank – Chaoyang Branch	Mar. 16, 2015 – Mar. 15, 2016		6.96	%		818,500
10	Agriculture Bank of China-Pinggu Branch	May 12, 2015 – Apr. 29, 2016		5.89	%		2,128,100
	Total					$	23,605,540