LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Jiang Huai
Short-term loan receivables
Short-term	$ 326	$ 326
Less: allowance for doubtful receivables	(326)	(326)
Short-term loan receivables, net	0	0
Jiang Huai \| Yuan RMB
Short-term loan receivables
Short-term	2,000	2,000
Less: allowance for doubtful receivables	(2,000)	(2,000)
Short-term loan receivables, net	0	0
Jun Zhou Zhi Ye \| Yuan RMB
Long-term loan receivables
Long-term	5,000	5,000
Less: transfer - down-payment for purchase of property	(5,000)	(5,000)
Long-term loan receivables, net	0	0
Jun Zhou Zhi Ye \| USD
Long-term loan receivables
Long-term	814	814
Less: transfer - down-payment for purchase of property	(814)	(814)
Long-term loan receivables, net	$ 0	$ 0

The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet.

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A deposit made by a purchaser of real estate to evidence good faith. It is customary for a buyer to give the seller earnest money at the time a sales contract is signed. The earnest money generally is credited to the down payment at closing, which is applied at closing as a component of payment against the purchase price.

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Amount, after allowance for credit loss, of financing receivable, classified as current. Includes, but is not limited to, notes and loan receivable.

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