OTHER LONG-TERM ASSETS (Tables)

12 Months Ended

Jun. 30, 2016

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets, Noncurrent [Table Text Block]

The Company’s other long-term assets are as follows:

	June 30,		June 30,
	2016		2015
Installment payment related to Vessel acquisition	$	-	$	2,736,229
Rent deposit		46,810		37,679
Total	$	46,810	$	2,773,908