Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2018

Restricted Net Assets [Abstract]

Schedule of parent company condensed balance sheets

Condensed Balance Sheets	As of June 30,
	2018			2017
ASSETS
Current Assets:
Cash and cash equivalents	$	16,952		$	139,969
Other current assets		71			71
Total Current Assets		17022			140,040
Long-term equity investment		400,248,804			404,406,925
Total long-term assets		400,248,804			404,406,925
Total Assets	$	400,248,804		$	404,546,965
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		2,183,756			1,988,743
Other payables and accrued expenses		5,319,763			4,815,649
Total Current Liabilities		7,718,039			7,018,913
Stockholders’ Equity
Common stock, $.001 par value, 115,197,165 shares authorized, 38,896,945 and 38,551,265 shares issued and outstanding as of June 30, 2018 and June 30, 2017, respectively		38,897			38,551
Additional paid in capital		129,337,035			128,915,651
Accumulated other comprehensive income		(3,598,215	)		(5,127,444	)
Retained earnings		266,770,070			273,701,295
Total Stockholders’ Equity		392,547,787			397,528,052
Total Liabilities and Stockholders’ Equity	$	400,265,826		$	404,546,965

Schedule of parent company condensed statements of operations

Condensed Statements of Operations	Year ended June 30,
	2018			2017
Revenue	$	-		$	-
General and administrative expenses		1,417,855			2,364,598
Interest income		6			15
Provision for tax		29,010,535			0
Equity investment in subsidiaries		23,497,159			27,516,737
Net income	$	(6,931,225	)	$	25,152,153

Schedule of parent company condensed statements of cash flows

Condensed Statements of Cash Flows	Year Ended June 30,
	2018			2017
Net cash provided by (used in) operating activities	$	(29,438,540	)	$	(627,526	)
Net cash provided by investing activities		-			-
Net cash provided by financing activities		195,013			600,000
Cash and cash equivalents, beginning balance		139,969			167,495
Cash and cash equivalents, ending balance	$	(29,103,559	)	$	139,969