Prepayments and advances

9 Months Ended

Mar. 31, 2016

Prepayments and advances [Text Block]

Note 7 – Prepayments and advances

Prepayments and advances consisted of the following:

		March 31,		June 30,
		2016		2015
Advances on inventory purchases	$	45,548,883	$	51,979,493
Deferred stock-based compensation		-		498,604
Total prepayments and advances	$	45,548,883	$	52,478,097