Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2016

Restricted Net Assets [Abstract]

Parent Company Condensed Balance Sheets

Condensed Balance Sheets	As of June 30,
	2016			2015
ASSETS
Current Assets:
Cash and cash equivalents	$	167,495		$	306,376
Other current assets		70			2,977
Total Current Assets		167,565			309,353
Long-term equity investment		376,321,912			377,245,446
Total long term assets		376,321,912			377,245,446
Total Assets	$	376,489,477		$	377,554,799
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		1,388,743			888,743
Other payables and accrued expenses		4,401,882			3,502,062
Total Current Liabilities		6,005,145			4,605,325
Stockholders' Equity
Common stock, $.001 par value, 115,197,165 shares authorized,   37,648,605 and 35,905,198, shares issued and outstanding as of June 30, 2016 and 2015, respectively		37,648			35,905
Additional paid in capital		127,593,932			123,360,384
Accumulated other comprehensive income		(5,696,388	)		25,708,238
Retained earnings		248,549,140			223,844,947
Total Stockholders' Equity		370,484,332			372,949,474
Total Liabilities and Stockholders' Equity	$	376,489,477		$	377,554,799

Parent Company Condensed Statements of Operations

Condensed Statements of Operations	Year ended June 30,
	2016		2015
Revenue	$	-	$	-
General and administrative expenses		5,768,770		6,560,980
Interest income		30		200
Equity investment in subsidiaries		30,472,933		38,005,906
Net income	$	24,704,193	$	31,445,126

Parent Company Condensed Statements of Cash Flows

Condensed Statements of Cash Flows	Year Ended June 30,
	2016			2015
Net cash provided by (used in) operating activities	$	(138,881	)	$	188,437
Net cash provided by investing activities		-			-
Net cash provided by financing activities		-			-
Cash and cash equivalents, beginning balance		306,376			117,939
Cash and cash equivalents, ending balance	$	167,495		$	306,376