Restricted Net Assets (Tables)

12 Months Ended

Jun. 30, 2019

Restricted Net Assets [Abstract]

Schedule of parent company condensed balance sheets

Condensed Balance Sheets	As of June 30,
	2019			2018
ASSETS
Current Assets:
Cash and cash equivalents	$	78,406		$	16,952
Other current assets		8,270,071			71
Total Current Assets		8,348,476			17,022
Long-term equity investment		406,084,910			400,248,804
Total long-term assets		406,084,910			400,248,804
Total Assets	$	406,163,387		$	400,265,826
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	214,520		$	214,520
Amount due to related parties		2,592,986			2,183,756
Other payables and accrued expenses		6,800,194			5,319,763
Total Current Liabilities		9,607,701			7,718,039
Stockholders' Equity
Common stock, $.001 par value, 115,197,165 shares authorized, 3,986,912 and 38,896,945 shares issued and outstanding as of June 30, 2019 and June 30, 2018, respectively		3,987			38,897
Additional paid in capital		138,012,445			129,337,035
Accumulated other comprehensive income		(19,821,211	)		(3,598,215	)
Retained earnings		278,360,465			266,770,070
Total Stockholders' Equity		396,555,686			392,547,787
Total Liabilities and Stockholders' Equity	$	406,163,387		$	400,265,826

Schedule of parent company condensed statements of operations

Condensed Statements of Operations	Year ended June 30,
	2019		2018
Revenue	$	-	$	-
General and administrative expenses		1,807,010		1,417,855
Interest income		9		6
Provision for tax		0		29,010,535
Equity investment in subsidiaries		13,397,397		23,497,159
Net income	$	11,590,395	$	(6,931,225	)

Schedule of parent company condensed statements of cash flows

Condensed Statements of Cash Flows	Year Ended June 30,
	2019			2018
Net cash provided by (used in) operating activities	$	(8,647,776	)	$	(29,438,540	)
Net cash provided by investing activities		-			-
Net cash provided by financing activities		8,679,230			195,013
Cash and cash equivalents, beginning balance		(29,103,559	)		139,969
Cash and cash equivalents, ending balance	$	(29,072,104	)	$	(29,103,559	)