Related Party Transactions

12 Months Ended

Jun. 30, 2013

11. Related Party Transactions

On June 27, 2013, the Company signed a 5-year global logistic service agreement with TEWOO Chemical & Light Industry Zhiyuan Trade Co., Ltd and TianJin Zhi Yuan Investment Group Co., Ltd (together “Zhiyuan”). TianJin Zhi Yuan Investment Group Co., Ltd is owned by Mr. Zhang Zhong, the largest shareholder of the Company. For the year ended June 30, 2013, the Company has had no business transaction with Zhiyuan.

As of June 30, 2013 and 2012, the Company reported an amount due from related party of approximately $541,400 from Sino-G Trading Inc.(“Sino-G”), an entity that is owned by the brother-in-law of the Company’s CEO. Sino-G acted as a funds transfer agent for the Company’s services in Tianjin, PRC.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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