Commitments and Contingencies

3 Months Ended

Sep. 30, 2018

Commitments and Contingencies [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 15 – COMMITMENTS AND CONTINGENCIES

On June 29, 2018, Jinong renewed an office lease with Kingtone Information.  Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a four-year term effective as of July 1, 2018 with monthly rent of $3,564 (approximately RMB 24,480). 

Accordingly, the Company recorded an aggregate of $11,985 and $14,716 as rent expenses from these committed property leases for the three-month periods ended September 30, 2018 and 2017, respectively. The contingent rent expenses herein for the next five twelve-month periods ended September 30, are as follows:

Years ending September 30,
2019	$	47,940
2020		47,940
2021		47,940
2022		47,940
2023		47,940