Related party transactions

9 Months Ended

Mar. 31, 2016

Related party transactions [Text Block]

Note 10 – Related party transactions

Other payables – shareholders

Two shareholders advanced funds to BVI-ACM, for working capital purposes. The advances are non-interest bearing, unsecured, and are payable in cash on demand. These two shareholders and officers of the Company also guaranteed certain of the Company’s short-term loans payable to banks (see Note 8).

In December 2014, the Company issued an aggregate of 174,865 shares of restricted common stock to pay off certain other payables to two shareholders (see Note 12). Other payables - shareholders consisted of the following:

		March 31,		June 30,
		2016		2015
Xianfu Han	$	78,086	$	15,762
Weili He		120,143		67,916
	$	198,229	$	83,678