INCOME TAXES (Tables)

3 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation between the expected federal income tax rate using the federal statutory tax rate of 35% to the Company’s effective tax rate is as follows:

	For the three months ended September 30,
	2014		2013
	%		%
U.S. expected federal income tax benefit		(35.0)		(35.0)
U.S. state, local tax net of federal benefit		(10.9)		(10.9)
U.S. permanent difference		0.1		0.6
U.S. temporary difference		45.7		45.3
Permanent difference related to other countries		14.9		347.6
Hong Kong statutory income tax rate		16.5		16.5
Hong Kong income tax benefit		(11.6)		(16.5)
Total tax expense		19.7		347.6

Schedule Of Components Of Income Tax Expense (Benefit) [Table Text Block]

The income tax benefit for the three months ended September 30, 2014 and 2013 are as follows: 

	For the three months ended September 30,
	2014		2013
Current
USA	$	-	$	-
Hong Kong		1,645		-
China		-		-
		1,645		-
Deferred
USA		(28,900)		(22,500)
China		-		-
		(28,900)		(22,500)
Total	$	(27,255)	$	(22,500)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Deferred tax assets are comprised of the following:

	September 30,		June 30,
	2014		2014
Allowance for doubtful accounts	$	224,000	$	224,000
Stock-based compensation		411,000		411,000
Net operating loss		1,293,000		1,004,000
Total deferred tax assets		1,928,000		1,639,000
Valuation allowance		(1,735,200)		(1,475,100)
Deferred tax assets, net - long-term	$	192,800	$	163,900