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DEPOSIT FOR EQUIPMENT PURCHASE
12 Months Ended
Jun. 30, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
DEPOSIT FOR EQUIPMENT PURCHASE

NOTE D -DEPOSIT FOR EQUIPMENT PURCHASE

 

In November of 2013, the Company made a deposit of $5,967,480 (RMB 36,474,054) with a supplier for the purchase of equipment for the Companies ginseng farms. Prior to delivery of the equipment, the Company determined that this equipment was not best suited for its’ farms and cancelled the purchase. The deposit remains on hand with the supplier. The Company and supplier are negotiating for the delivery of different equipment or the return of the deposit.