INCOME TAXES (Tables)

9 Months Ended

Mar. 31, 2015

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 nine months ended March 31,				For the three months ended March 31,
	2015		2014		2015		2014
	%		%		%		%
U.S. expected federal income tax benefit		35.0		35.0		35.0		35.0
U.S state, local tax net of federal benefit		10.9		10.9		10.9		10.9
U.S. permanent difference		(0.2)		(0.8)		(0.2)		(1.2)
U.S. temporary difference		(45.7)		(45.1)		(45.7)		(44.7)
Permanent difference related to other countries		21.9		3.1		11.4		1.4
Hong Kong statutory income tax rate		(16.5)		(16.5)		(16.5)		(16.5)
Hong Kong income tax benefit		12.1		16.5		16.5		16.5
Total tax expense		17.5		3.1		11.4		1.4

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

The income tax (provision) benefit for the nine and three months ended March 31, 2015 and 2014 are as follows:

	For the nine months ended				For the three months ended
	March 31,				March 31,
	2015		2014		2015		2014
Current
USA	$	-	$	(34,659)	$	-	$	(34,659)
Hong Kong		(5,770)		-		-		-
China		-		(122)		-		(122)
		(5,770)		(34,781)		-		(34,781)
Deferred
USA		91,300		40,700		34,067		35,967
China		-		-		-		-
		91,300		40,700		34,067		35,967
Total	$	85,530	$	5,919	$	34,067	$	1,186

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

Deferred tax assets are comprised of the following:

	March 31,		June 30,
	2015		2014
Allowance for doubtful accounts	$	220,000	$	224,000
Stock-based compensation		377,000		411,000
Net operating loss		1,955,000		1,004,000
Total deferred tax assets		2,552,000		1,639,000
Valuation allowance		(2,296,800)		(1,475,100)
Deferred tax assets, net - long-term	$	255,200	$	163,900