COMMITMENTS AND CONTIGENCIES (Tables)

6 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]

The Company leases certain office premises and apartments for employees under operating leases through August 31, 2019. Future minimum lease payments under operating lease agreements are as follows:

	Amount
Twelve months ending December 31,
2016	$	212,910
2017		132,736
2018		66,597
2019		45,194
Thereafter		-
	$	457,437