SHORT-TERM INVESTMENTS (Tables)

9 Months Ended

Mar. 31, 2013

Short-Term Investments [Abstract]

Schedule of Cash, Cash Equivalents and Short-term Investments [Table Text Block]

The following table summarizes the movement of short-term investments for the nine month ended March 31, 2013:

	Amount
As of June 30, 2012		4,849,112
Interest income recognized during the period		30,944
Disposal of short-term investments		(4,891,063	)
Foreign currency translation adjustment		11,007
As of March 31, 2013	$	-