Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2020

Disclosure Text Block Supplement [Abstract]

Schedule of parent company condensed balance sheets

	As of June 30,
	2020			2019
ASSETS
Current Assets:
Cash and cash equivalents	$	65,520		$	78,406
Other current assets		169,071			71
Total Current Assets		234,590			78,476
Long-term equity investment		273,573,440			406,084,910
Total long-term assets		273,573,440			406,084,910
Total Assets	$	273,808,030		$	406,163,387
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		3,192,986			2,592,986
Other payables and accrued expenses		7,594,602			6,800,194
Total Current Liabilities		11,002,108			9,607,701
Stockholders’ Equity
Common stock, $.001 par value, 115,197,165 shares authorized, 3,986,912 and 3,241,413 shares issued and outstanding as of June 30, 2020 and June 30, 2019, respectively		6,350			3,987
Additional paid in capital		155,455,332			138,012,445
Accumulated other comprehensive income		(34,264,089	)		(19,821,211	)
Retained earnings		141,608,329			278,360,465
Total Stockholders’ Equity		262,805,922			396,555,686
Total Liabilities and Stockholders’ Equity	$	273,808,030		$	406,163,387

Schedule of parent company condensed statements of operations

	Year ended June 30,
	2020			2019
Revenue	$	-		$	-
General and administrative expenses		1,555,269			1,807,010
Interest income		19			9
Provision for tax		-			-
Equity investment in subsidiaries		(135,196,887	)		13,397,397
Net income	$	(136,752,136	)	$	11,590,395

Schedule of parent company condensed statements of cash flows

Condensed Statements of Cash Flows	Year Ended June 30,
	2020			2019
Net cash provided by (used in) operating activities	$	(10,864,886	)	$	(8,617,776	)
Net cash provided by (used in) investing activities		-			-
Net cash provided by (used in) financing activities		10,852,000			8,679,230
Cash and cash equivalents, beginning balance		78,405			(29,103,559	)
Cash and cash equivalents, ending balance	$	65,520		$	(29,042,104	)