SUBSEQUENT EVENTS

6 Months Ended

Dec. 31, 2015

Note 18. SUBSEQUENT EVENTS

In January 2016, the Company formed a new subsidiary Sino-Global Shipping LA Inc. for the purpose of expanding its business to provide import security filing services with U.S Customs and Department of Homeland Security, on behalf of importers who ship goods into the U.S. The Company expects to expand its service platform to generate increased revenue from this new business in the near future.

Effective February 11, 2016, the Compensation Committee of the Board of Directors of the Company granted 660,000 shares of common stock to seven directors and executive officers under the Company’s 2014 Stock Incentive Plan. Pursuant to the terms and conditions of the Plan Stock Award Agreements, these shares vested immediately, with a total value of $349,800, at $0.53 per share based on the Company’s stock price on February 10, 2016.

As of the date of this report, the Company received 1.2 million shares from the Vessel Seller, as further discussed in Note 10.