Loan Payables

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

LOAN PAYABLES

NOTE 9 – LOAN PAYABLES

As of June 30, 2019, the short-term loan payables consisted of four loans which mature on dates ranging from June 3, 2019 through June 27, 2020 with interest rates ranging from 5.22% to 6.31%. No. 1 and 2 below are collateralized by Tianjuyuan's land use right and building ownership right. Loan No. 2 is also guaranteed by the cash deposit.

No.	Payee	Loan period per agreement	Interest Rate			June 30, 2019
1	Postal Saving Bank of China - Pinggu Branch	June 3, 2019-June 2, 2020		6.31	%		2,912,000
2	Agriculture Bank -Pinggu Branch	June 28, 2019-June 27, 2020		5.22	%		728,000
	Total					$	3,640,000

The interest expense from short-term loans was $318,122 and $592,153 for the year ended June 30, 2019 and 2018 respectively.