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Related Party Transactions and Balances
12 Months Ended
Jun. 30, 2017
Related Party Transactions and Balances [Abstract]  
RELATED PARTY TRANSACTIONS AND BALANCES

11.   RELATED PARTY TRANSACTIONS AND BALANCES

 

The Company’s transactions with related parties were, in the opinion of the management, carried out on normal commercial terms and in the ordinary course of the Company’s business.

 

Other than disclosed elsewhere in the financial statements, the other related party transaction is management fees of $Nil for the year ended June 30, 2017 (year ended 2016: $152,283) charged by entities owned by the shareholders of the Company for providing warehousing and other logistic services. Amounts owed to entities owned by the stockholders in respect of these services were $Nil as at June 30, 2017 (June 30, 2016: $60,145). Further as explained in note 10, management fee for year ended June 30, 2017 include $2,105,370 representing issuance of 35,537,000 shares of common stock (pre reverse split) and 250,000 shares of common stock (post reverse split) issued to the then CEO of the Company.