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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 21,049,266 $ 19,764,978
Adjustments to reconcile net income to net cash provided by operating activities    
Issuance of common stock and stock options for compensation 1,303,645 3,014,153
Depreciation and amortization 14,921,548 31,245,614
Loss on disposal of property, plant and equipment 115,933 1,375
Amortization of debt discount 231,998
Change in fair value of derivative liability (88,106)
Allowance for bad debts 5,624,394 218,244
Changes in operating assets    
Accounts receivable (47,292,468) (10,096,055)
Amount due from related parties (618,198)
Other current assets (509,573) (52,579)
Inventories 39,403,840 (12,622,730)
Advances to suppliers (2,675,330) 1,440,660
Other Assets (9,753,250) 53,797
Changes in operating liabilities    
Accounts payable 6,094,687 343,579
Customer deposits (2,181,648) (12,842,647)
Tax payables (8,461,337) (420,814)
Accrued expenses and other payables (585,606) 456,970
Interest payable 301,355
Net cash provided by operating activities 17,499,348 19,886,347
Cash flows from investing activities    
Purchase of plant, property, and equipment (30,756) (16,608)
Cash paid for acquisition, net (123,614)
Change in construction in process (204,660)
Net cash used in investing activities (359,030) (16,608)
Cash flows from financing activities    
Proceeds from loans 5,890,757 5,626,800
Repayment of loans (4,562,642) (23,319,960)
Advance from related party 600,000 200,000
Net cash provided by financing activities 1,928,115 (17,493,160)
Effect of exchange rate change on cash and cash equivalents (3,704,924) (4,888,986)
Net increase in cash and cash equivalents 15,363,509 (2,512,407)
Cash and cash equivalents, beginning balance 102,896,486 92,982,564
Cash and cash equivalents, ending balance 118,259,995 90,470,157
Supplement disclosure of cash flow information    
Interest expense paid 464,430 943,413
Income taxes paid $ 6,071,366 $ 583,304