Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2017

Restricted Net Assets [Abstract]

Schedule of parent company condensed balance sheets

Condensed Balance Sheets	As of June 30,
	2017			2016
ASSETS
Current Assets:
Cash and cash equivalents	$	139,969		$	167,495
Other current assets		71			70
Total Current Assets		140,040			167,565
Long-term equity investment		404,406,925			376,321,912
Total long-term assets		404,406,925			376,321,912
Total Assets	$	404,546,965		$	376,489,477
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		1,988,743			1,388,743
Other payables and accrued expenses		4,815,649			4,401,882
Total Current Liabilities		7,018,913			6,005,145
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		38,551			37,648
Additional paid in capital		128,915,651			127,593,932
Accumulated other comprehensive income		(5,127,444	)		(5,696,388	)
Retained earnings		273,701,295			248,549,140
Total Stockholders’ Equity		397,528,052			370,484,332
Total Liabilities and Stockholders’ Equity	$	404,546,965		$	376,489,477

Schedule of parent company condensed statements of operations

Condensed Statements of Operations	Year ended June 30,
	2017		2016
Revenue	$	-	$	-
General and administrative expenses		2,364,598		5,768,770
Interest income		15		30
Equity investment in subsidiaries		27,516,737		30,472,933
Net income	$	25,152,153	$	24,704,193

Schedule of parent company condensed statements of cash flows

Condensed Statements of Cash Flows	Year Ended June 30,
	2017			2016
Net cash provided by (used in) operating activities	$	(627,526	)	$	(138,881	)
Net cash provided by investing activities		-			-
Net cash provided by financing activities		600,000			-
Cash and cash equivalents, beginning balance		167,495			306,376
Cash and cash equivalents, ending balance	$	139,969		$	167,495