Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of depreciation of property and equipment

Furniture and fixtures     5-10 years  
Office equipment     3-5 years  
Vehicles     5 years  

Schedule of balances of the VIE

    September 30,
2019 (Unaudited)
    June 30,
2019
 
Current assets   $ 702,885     $ 1,573,413  
Non-current assets     309,044       96,927  
Total assets   $ 1,011,929     $ 1,670,340  
                 
Current liabilities   $ 5,736,211     $ 6,232,836  
Non-current liabilities     -       -  
Total liabilities   $ 5,736,211     $ 6,232,836  

 

   

Three Months Ended
September 30

(Unaudited)

 
    2019     2018  
Revenue   $ -     $ -  
Gross profit     -       -  
Net loss   $ (347,824 )   $ (366,615 )
Schedule of exchange rates used to translate amounts

    September 30,     September 30,     June 30,  
    2019     2018     2019  
 Period end USD: RMB exchange rate     7.1484       6.8665       6.8668  
 Average USD: RMB exchange rate     7.0188       6.8031       6.8263