COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE Q - COMMITMENTS AND CONTINGENCIES

The Company has employment agreements with various individuals in China. The following summarizes the contractual commitments under these agreements:

Year ended June 30,	Commitment
2016	$	43,555
2017		20,529
Total	$	63,884

On August 18, 2015, Mr. Liu tendered his resignation as Chairman, Director and Chief Executive Officer. As a result of his resignation, the Company’s contractual commitment was reduced to $27,714 and $12,709 for the years ended June 30, 2016 and 2017, respectively, or $40,423 in total.

 The Company has one year leases for its corporate offices in China aggregating 220,190 RMB per year (USD $36,016) expiring between December 31, 2015 and May 21, 2016. The commitments for these leases at June 30, 2015 was 123,280 RMB (USD $20,165).

The Chinese government owns all the land in China. Currently, the Company has grants from the Chinese government for approximately 1,500 hectares of land (3,705 acres) to grow Ginseng. These grants are for 20 years. There is no assurance that the Chinese government will continue to renew these grants in the future. During the year ended June 30, 2014, the Forestry Bureau governing one of the farms approximating 700 hectares (1,730 acres) of land leased by Yanbian Huaxing notified the Company that this lease in no longer recognized. As a result, the Company is prevented from developing and planting ginseng in undeveloped areas of the farm.

The Company had a 15 year lease with the Representative of Group One Farmer, Si’An City, Qingshi, Qingshi Town, Qingshi Village, China to lease 750 acres to grow and harvest grapes. The lease expired December 31, 2014. The annual lease fee is 187,500 RMB or approximately $30,500 per year to lease the acreage. The land and buildings on the premises have a separate lease concurrent with the property lease. The Company did not renew the lease.

The Company has a 5 year lease to refrigerate and store fresh Ginseng, which is valid until terminated by the parties. The annual lease fee approximates $15,500 per year.

Rent expense was $20,959 and $32,584 for the years ended June 30, 2015 and 2014, respectively.