Land Use Rights

6 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

LAND USE RIGHTS

NOTE 5 - LAND USE RIGHTS

Land use rights are recognized at cost less accumulated amortization. According to the Chinese laws and regulations regarding land use rights, land in urban districts is owned by the State, while land in the rural areas and suburban areas, except otherwise provided for by the State, is collectively owned by individuals designated as resident farmers by the State. However, in accordance with the legal principle that land ownership is separate from the right to the use of the land, the government grants the user a “land use right” (the “Right”) to use the land. The Company has the Right to use the land for 50 years and amortizes the rights on a straight-line basis over the period of 50 years. 

	December 31, 2019			June 30, 2019
Land use rights	$	1,596,295		$	1,619,820
Less: accumulated amortization		(366,603	)		(355,511	)
Land use rights, net	$	1,229,692		$	1,264,309

For the six months ended December 31, 2019 and 2018, the Company recognized amortization expense of US$ 18,427 and US$ 19,072, respectively. For the three months ended December 31, 2019 and 2018, the Company recognized amortization expense of US$ 9,213 and US$ 9,434, respectively.

The estimated future amortization expenses are as follows:

Twelve months ending December 31:
2020	$	31,926
2021		31,926
2022		31,926
2023		31,926
2024		31,926
Thereafter		1,070,062
Total	$	1,229,692