XML 64 R43.htm IDEA: XBRL DOCUMENT v3.19.3
Summary of Significant Accounting Policies (Details Textual) - USD ($)
1 Months Ended 12 Months Ended
Dec. 22, 2017
Jun. 30, 2019
Jun. 30, 2018
Summary of Significant Accounting Policies (Textual)      
Cash balance at U.S. financial institutions, not insured by the FDIC   $ 2,993,913 $ 6,205,960
Cash balance at U.S. financial institutions, FDIC insured amount   $ 122,017 $ 848,657
Percentage of business tax   5.00%  
Percentage of construction taxes   7.00%  
Percentage of education surcharges   3.00%  
Unexercised options included in the computation of diluted earnings per share     985,693
Percentage of income tax   25.00%  
Corporate tax rates effective during the period, description The "Tax Cuts and Jobs Act" (the "Tax Act") was enacted. Under the provisions of the Tax Act, the U.S. corporate tax rate decreased from 35% to 21%. As the Company has a June 30 fiscal year-end, the lower corporate income tax rate was phased in, resulting in a U.S. statutory federal rate of approximately 28% for our fiscal year ended June 30, 2018, and 21% for subsequent fiscal years. Additionally, the Tax Act imposes a one-time transition tax on deemed repatriation of historical earnings of foreign subsidiaries, and future foreign earnings are subject to U.S. taxation.    
Compensation paid   The Hong Kong Deposit Protection Board pays compensation up to a limit of HKD $500,000 (approximately $64,000) if the bank with which an individual/a company hold its eligible deposit fails. As of June 30, 2019 and 2018, a cash balance of $4,384 and $9,601, respectively, were maintained at financial institutions in Hong Kong and were insured by the Hong Kong Deposit Protection Board.  
Outstanding contracts   $ 2,000,000  
Wrote off accounts receivable   90,000  
Additional operating labilities   $ 100,000  
Description of receivables and allowance for doubtful accounts   The Company reserves 25%-50% of the customers balance aged between 181 days to 1 year, 50%-100% of the customers balance over 1 year and 100% of the customers balance over 2 years.  
Sino - China [Member]      
Summary of Significant Accounting Policies (Textual)      
Percentage of net income   90.00%