Commitments and Contingencies

9 Months Ended

Mar. 31, 2018

Commitments and Contingencies [Abstract]

NOTE 15 - COMMITMENTS AND CONTINGENCIES

On June 29, 2016, 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 provides for a two-year term effective as of July 1, 2016 with monthly rent of $3,895 (RMB24,480).

In January 2008, Jintai signed a ten-year land lease with Xi’an Jinong Hi-tech Agriculture Demonstration Zone for a monthly rent of $827 (RMB5,200).

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 $471 (RMB2,958).

Accordingly, the Company recorded an aggregate of $14,751 and $42,626 as rent expenses for the nine months ended March 31, 2018 and 2017, respectively.

Lease expenses for the next five twelve month periods ending March 31, are as follows:

Twelve Months ending March 31,
2019	$	5,647
2020		5,647
2021		5,647
2022		5,647
2023		5,647