XML 45 R30.htm IDEA: XBRL DOCUMENT v3.20.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of estimated useful lives
   Estimated
Useful Life
Building  10-25 years
Agricultural assets  8 years
Machinery and equipment  5-15 years
Vehicles  3-5 years
Schedule of changes in goodwill by reporting segments
    Balance at           Foreign     Balance at  
    June 30,     Additions     Currency     June 30,  
Segment   2019     /Deletion     Adjustment     2020  
                         
Gufeng   $ 4,665,642         -          $ (131,381 )     4,534,261  
Acquisition of VIE Companies     3,208,779       (607,677)        (90,357 )     2,510,745  
    $ 7,874,421     $ (607,677)      $ (221,738 )   $ 7,045,006  
Schedule of derivative liabilities at fair value
   Fair Value    
   As of
June 30,
  

Fair Value Measurements at

June 30, 2020

 
Description  2020   Using Fair Value Hierarchy 
       Level 1   Level 2   Level 3 
Derivative liability  $-   $-   $-   $- 
    Fair Value     Fair Value Measurements at  
    As of
June 30,
    June 30,
2019
 
Description   2019     Using Fair Value Hierarchy  
          Level 1     Level 2     Level 3  
Derivative liability   $ 18,162     $      -         $ 18,162     $          -  
Schedule of derivative liabilities at fair value
Risk-free rate     3.1 %
Volatility     214.9 %
Dividend yield     0.0 %
Country risk premium     90 %
Liquidity risk premium     3.0 %
Schedule of basic and diluted earnings per share
   Years Ended June 30,
   2020  2019
Net Income for Basic Earnings Per Share  $(136,752,136)  $11,590,395 
Basic Weighted Average Number of Shares   5,619,788    3,388,529 
Net Income Per Share – Basic  $(24.33)  $3.42 
Net Income for Diluted Earnings Per Share  $(136,752,136)  $11,590,395 
Diluted Weighted Average Number of Shares   5,619,788    3,388,529 
Net Income Per Share – Diluted  $(24.33)  $3.42