Prepaid Expenses and Other Assets

6 Months Ended

12 Months Ended

Dec. 31, 2017

Jun. 30, 2017

Prepaid Expenses and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

Note 5. PREPAID EXPENSES AND OTHER ASSETS

The Company’s prepaid expenses and other current assets are as follows:

	December 31,		June 30,
	2017		2017
Consultant fees (1)	$	79,075	$	158,150
Advance to employees		57,859		64,160
Other		93,787		95,708
Total		230,721		318,018
Less: current portion		230,721		311,136
Total noncurrent portion	$	-	$	6,882

(1) The Company entered into a management consulting services agreement with a consulting company on November 12, 2015, pursuant to which the consulting company shall assist the Company with its regulatory filings during the period from July 1, 2016 to June 30, 2018. In return for its services, as approved by the Board, a total of RMB 2,100,000 ($316,298) was paid to the consulting company. The above-mentioned consulting fees have been and will be ratably charged to expense over the terms of the above-mentioned agreement.

Note 6. PREPAID EXPENSES AND OTHER CURRENT ASSETS

The Company’s prepaid expenses and other current assets are as follows:

	June 30,		June 30,
	2017		2016
Consultant fees (1)	$	158,150	$	845,420
Advance to employees		64,160		105,137
Other (including prepaid web hosting , public relations services)		95,708		55,056
Total		318,018		1,005,613
Less : current portion		311,136		826,631
Total noncurrent portion	$	6,882	$	178,982

(1) The Company entered into a management consulting services agreement with a consulting company on November 12, 2015, pursuant to which the consulting company shall assist the Company with its regulatory filings during the period from July 1, 2016 to June 30, 2018. In return for its services, as approved by the Board, a total of RMB 2,100,000 ($316,298) was paid to the consulting company. The above-mentioned consulting fees have been and will be ratably charged to expense over the terms of the above-mentioned agreement.