Loan Payables (Tables)

12 Months Ended

Jun. 30, 2017

Loan Payables & Convertible Notes Payable [Abstract]

Summary of loan payables

No.	Payee	Loan period per agreement	Interest Rate			June 30, 2017
1	Bank of Beijing-Pinggu Branch	June 28,  2016 -July 28, 2017		5.22	%	$	1,502,360
2	Postal Saving Bank of China - Pinggu Branch	March 24, 2017 – March 5, 2018		6.31	%		4,507,080
3	Bank of Beijing - Pinggu Branch	June 9, 2017-June 8, 2018		5.22	%		1,502,360
4	Bank of China-Anhui	November 25, 2016-October25, 2017		LPR	*	$	166,311
	Total					$	7,678,111

*LPR stands for Loan Prime Rate. The LPR rate is a 1-year lending rate for commercial banks to lend for their top graded loan borrowers usually with equivalent interbank credit worthiness in China. The LPR rate is a variable rate and was published along with Shanghai Interbank Offer Rates daily.

No.	Payee	Loan period per agreement	Interest Rate			June 30, 2016
1	Agriculture Bank of China-Pinggu Branch	May. 18, 2016 - Mar. 17, 2017		4.87	%	$	1,953,068
2	Beijing Bank - Pinggu Branch	Aug. 11, 2015- Aug. 2, 2016		5.82	%		1,502,360
3	Agriculture Bank of China-Pinggu Branch	Jan. 19, 2016 – Jan. 17, 2017		5.00	%		1,201,888
	Total					$	4,657,316