COMMITMENTS

6 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

6. COMMITMENTS

Office leases

The Company leases certain office premises and apartments for employees under operating leases through September 30, 2014. Future minimum lease payments under operating leases agreements are as follows:

	Amount
Twevle months ending December 31,
2013	$	139,585
2014		46,044
After 2014		-
	$	185,629

Rent expense for the six months ended December 31, 2012 and 2011 was $133,218 and $182,396, respectively. Rent expense for the three months ended December 31, 2012 and 2011 was $55,338 and $94,296, respectively.