China Advanced Construction Materials (CADC) 10-K 10 Dec 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2018	Dec. 03, 2018	Dec. 29, 2017
Document And Entity Information
Entity Registrant Name	China Advanced Construction Materials Group, Inc
Entity Central Index Key	1,392,363
Trading Symbol	CADC
Amendment Flag	false
Document Type	10-K
Document Period End Date	Jun. 30, 2018
Document Fiscal Period Focus	FY
Entity Well Known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Document Fiscal Year Focus	2,018
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Public Float			$ 6,400,000
Entity Common Stock, Shares Outstanding		5,584,626

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Jun. 30, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 1,098,691	$ 224,679
Restricted cash		4,208,765
Accounts receivable, net	43,322,463	47,543,077
Inventories	427,193	626,738
Other receivables, net	71,242	240,123
Other receivables - related party	1,397,042
Prepayments and advances, net	1,569,162	16,894,781
Prepayments - related party	2,725,423	6,996,400
Prepaid expenses	40,458
Total current assets	50,651,674	76,734,563
PROPERTY PLANT AND EQUIPMENT, net	2,748,409	3,644,203
Total assets	53,400,083	80,378,766
CURRENT LIABILITIES:
Short term loans, banks and bank guarantees	26,062,665	17,700,720
Notes payable		14,013,070
Accounts payable	10,340,072	29,081,790
Customer deposits	903,034	614,558
Other payables	369,780	4,098,772
Other payables - shareholders	195,763	2,925,543
Accrued liabilities	1,217,584	1,352,750
Taxes payable	178,190	103,419
Accrued contingent liabilities	4,430,787	609,160
Total current liabilities	43,697,875	70,499,782
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS' EQUITY:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.001 par value, 74,000,000 shares authorized, 5,488,649 and 2,387,658 shares issued and outstanding as of June 30, 2018 and 2017, respectively	5,489	2,388
Additional paid-in-capital	48,360,368	38,662,377
Deferred stock compensation	(2,825,000)
Deficit	(49,642,916)	(42,242,951)
Statutory reserves	6,248,092	6,248,092
Accumulated other comprehensive income	7,556,175	7,209,078
Total shareholders' equity	9,702,208	9,878,984
Total liabilities and shareholders' equity	$ 53,400,083	$ 80,378,766

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2018	Jun. 30, 2017
Statement of Financial Position [Abstract]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	74,000,000	74,000,000
Common stock, shares issued	5,488,649	2,387,658
Common stock, shares outstanding	5,488,649	2,387,658

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
REVENUE	$ 45,734,647	$ 45,048,413
COST OF REVENUE	39,022,360	43,953,477
GROSS PROFIT	6,712,287	1,094,936
PROVISION FOR DOUBTFUL ACCOUNTS	(2,184,221)	(3,352,063)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	(6,689,669)	(5,669,702)
RESEARCH AND DEVELOPMENT EXPENSES	(1,182,133)	(846,438)
LOSS FROM OPERATIONS	(3,343,736)	(8,773,267)
OTHER INCOME (EXPENSE), NET
Other income, net	111,922	407,452
Interest income	6,051	30,464
Interest expense	(1,360,608)	(830,978)
Finance expense	(5,137)	(604,498)
Estimated claims charges	(2,808,457)	(1,267,293)
TOTAL OTHER EXPENSE, NET	(4,056,229)	(2,264,853)
LOSS BEFORE PROVISION FOR INCOME TAXES	(7,399,965)	(11,038,120)
PROVISION FOR INCOME TAXES
NET LOSS	(7,399,965)	(11,038,120)
COMPREHENSIVE INCOME (LOSS)
Net loss	(7,399,965)	(11,038,120)
Other comprehensive income (loss) - foreign currency translation gain (loss)	347,097	(499,361)
COMPREHENSIVE LOSS	$ (7,052,868)	$ (11,537,481)
Weighted average number of shares:
Basic	2,942,945	2,266,826
Diluted	2,942,945	2,266,826
Loss per share:
Basic	$ (2.51)	$ (4.87)
Diluted	$ (2.51)	$ (4.87)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Common stock	Additional Paid-in capital	Deferred Stock Compensation	Deficit	Statutory reserves	Accumulated other comprehensive income	Total
BALANCE at Jun. 30, 2016	$ 2,181	$ 38,373,584		$ (31,204,831)	$ 6,248,357	$ 7,708,439	$ 21,127,730
BALANCE, Shares at Jun. 30, 2016	2,180,799
Common stock issued for services without performance commitment	$ 107	(107)
Common stock issued for services without performance commitment, Shares	106,859
Common stock issued for compensation	$ 100	288,900					289,000
Common stock issued for compensation, Shares	100,000
Net loss				(11,038,120)			(11,038,120)
Dissolution of subsidiaries					(265)		(265)
Foreign currency translation gain/loss						(499,361)	(499,361)
BALANCE at Jun. 30, 2017	$ 2,388	38,662,377		(42,242,951)	6,248,092	7,209,078	9,878,984
BALANCE, Shares at Jun. 30, 2017	2,387,658
Cancellation of common stock issued for services	$ (57)	57
Cancellation of common stock issued for services, Shares	(56,859)
Common stock issued for services		144,500					144,500
Common stock issued for compensation	$ 475	1,243,526					1,244,001
Common stock issued for compensation, Shares	475,195
Common stock issued for debt repayment	$ 1,883	3,857,560					3,859,443
Common stock issued for debt repayment, Shares	1,882,655
Sale of common stock	$ 300	599,700					600,000
Sale of common stock, Shares	300,000
Common stock issued for services	$ 500	2,824,500	(2,825,000)
Common stock issued for services, Shares	500,000
Payments made by shareholders for litigation		1,028,148					1,028,148
Net loss				(7,399,965)			(7,399,965)
Foreign currency translation gain/loss						347,097	347,097
BALANCE at Jun. 30, 2018	$ 5,489	$ 48,360,368	$ (2,825,000)	$ (49,642,916)	$ 6,248,092	$ 7,556,175	$ 9,702,208
BALANCE, Shares at Jun. 30, 2018	5,488,649

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,399,965)	$ (11,038,120)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	1,239,383	1,178,427
Gain on disposal of equipment	(2,306)
Stock-based compensation expense	1,388,501	289,000
Provision for doubtful accounts	2,184,221	3,352,063
Changes in operating assets and liabilities
Accounts receivable	(4,647,399)	(13,544,355)
Inventories	218,252	374,676
Other receivables	1,458,316	7,534,134
Prepayments and advances	15,996,599	18,161,510
Prepayments - related party	4,209,149	(5,856,413)
Prepaid expenses	(40,458)
Accounts payable	(12,834,912)	11,783
Customer deposits	971,235	(3,556,647)
Other payables	(3,924,701)	3,493,637
Other payables - shareholders	720,000	623,924
Accrued liabilities and contingent liabilities	2,840,480	667,463
Taxes payable	73,623	9,575
Net cash provided by operating activities	2,450,018	1,700,657
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(138,151)	(210,962)
Net cash used in investing activities	(138,151)	(210,962)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short term bank loans	34,724,896	20,706,132
Repayments of short term bank loans	(26,639,329)	(19,237,612)
Proceeds from notes payable		30,398,364
Repayments of notes payable	(14,603,210)	(34,069,664)
Borrowings from shareholders	121,820	146,611
Proceeds from issuance of common stock	600,000
Change in restricted cash	4,386,011	(191,912)
Net cash used in financing activities	(1,409,812)	(2,248,081)
EFFECTS OF EXCHANGE RATE CHANGE IN CASH AND CASH EQUIVALENTS	(28,043)	(23,905)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	874,012	(782,291)
CASH AND CASH EQUIVALENTS, beginning of year	224,679	1,006,970
CASH AND CASH EQUIVALENTS, end of year	1,098,691	224,679
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest expense	1,360,608	825,772
Cash paid for income tax
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:
Property, plant and equipment additions accrued	99,125
Customer deposits reclassified to other payables - shareholders upon execution of tri-party agreements	692,387
Accrued liabilities reclassified to other payables - shareholders upon execution of tri-party agreements	259,105
Forgiveness of payable to shareholder as a capital contribution	691,731
Litigation liability paid by related party	354,921	660,834
Accrued rent liability and other receivable - related party	1,422,186
Common stock issued to repay other payables - major shareholders	3,859,443
OTHER NON-CASH TRANSACTIONS:
Accounts receivable offset with accounts payable upon execution of tri-party agreements	$ 6,945,445	$ 1,535,126

Organization and Description of

Organization and Description of Business	12 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and description of business	Note 1 – Organization and description of business China Advanced Construction Materials Group, Inc. (“CADC Delaware”) was incorporated in the State of Delaware on February 15, 2007. CADC Delaware, through its 100% owned subsidiaries and its variable interest entities (“VIEs”), is engaged in producing general ready-mix concrete, customized mechanical refining concrete, and other concrete-related products that are only sold in the People’s Republic of China (the “PRC”). CADC Delaware has a wholly-owned subsidiary in the British Virgin Islands, Xin Ao Construction Materials, Inc. (“BVI-ACM”), which is a holding company with no operations. BVI-ACM has a wholly-owned foreign subsidiary, Beijing Ao Hang Construction Material Technology Co., Ltd. (“China-ACMH”), and China-ACMH has contractual agreements with Beijing XinAo Concrete Group (“Xin Ao”) and therefore Xin Ao is considered to be a VIE of China- ACMH. Xin Ao is engaged in the business of concrete mixing services. Xin Ao had five wholly owned subsidiaries in the PRC: (1) Beijing Heng Yuan Zheng Ke Technical Consulting Co., Ltd, (2) Beijing Hong Sheng An Construction Materials Co., Ltd, (3) Beijing Heng Tai Hong Sheng Construction Materials Co., Ltd, (4) Da Tong Ao Hang Wei Ye Machinery, Equipment Rental Co., Ltd, and (5) Luan Xian Heng Xin Technology Co., Ltd. Since their establishment, none of these five entities had any operations and the Company did not plan to pursue operations for these entities. In February 2017 and prior, all five subsidiaries were dissolved. On August 1, 2013, CADC Delaware consummated a reincorporation merger with its newly formed wholly-owned subsidiary, China Advanced Construction Materials Group, Inc. (“China ACM”), a Nevada corporation, with CADC Delaware merging into China ACM and China ACM being the surviving company, for the purpose of changing CADC Delaware’s state of incorporation from Delaware to Nevada. China ACM, BVI-ACM, China-ACMH and Xin Ao are collectively referred to as the “Company”.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of significant accounting policies	Note 2 – Summary of significant accounting policies Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in the production of advanced construction materials for large-scale infrastructure, commercial and residential developments. The Company’s business is capital intensive and the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties and bank acceptance notes have been utilized to finance the working capital requirements and the capital expenditures of the Company. The Company’s working capital was approximately $7.0 million as of June 30, 2018, as compared to $6.2 million as of June 30, 2017. As of June 30, 2018, the Company had cash on-hand of approximately $1.1 million, with remaining current assets mainly composed of accounts receivable and prepayments and advances. Although the Company believes that it can realize its current assets in the normal course of business, the Company’s ability to repay its current obligations will depend on the future realization of its current assets. Management has considered its historical experience, the economic environment, trends in the construction industry, the expected collectability of its accounts receivable and other receivables and the realization of the prepayments on inventory, and provided for an allowance for doubtful accounts as of June 30, 2018. The Company expects to realize the balance of its current assets net of the allowance for doubtful accounts within the normal operating cycle of a twelve month period. If the Company is unable to realize its current assets within the normal operating cycle of a twelve month period, the Company may have to consider supplementing its available sources of funds through the following: ● Equity financing. ● Other available sources of financing from PRC banks and other financial institutions, given the Company’s credit history. ● Financial support and credit guarantee commitments from Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers. Based on the above considerations, the Company’s management is of the opinion that it has sufficient funds to meet the Company’s working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for the Company’s products, economic conditions, competitive pricing in the concrete-mix industry, the Company’s operating results continuing to deteriorate, additional legal liabilities, or the inability of the Company’s bank and shareholders to provide continued financial support. In addition, the Company is involved in various lawsuits, claims and disputes related to its operations and the personal guarantees of its executives to affiliated entities. The Company is actively defending these actions and attempting to mitigate the Company’s exposure to any liability in excess of the current provision of approximately $4.4 million, (see Note 12 in the accompanying notes to the consolidated financial statements). The ultimate outcome of these pending actions cannot presently be determined, but currently management is of the opinion that any potential additional liability would not have a material impact on the Company’s consolidated financial position. Nevertheless, due to the uncertainties with litigation, the PRC legal system, claims and disputes, it is at least reasonably possible that management’s view of the outcome could change in the near term. Furthermore, as of June 30, 2018, the Company’s VIE, Xin Ao, was subject to several civil lawsuits with potential judgments in the amount of approximately $14.2 million (see Note 12 in the accompanying notes to the consolidated financial statements) and the likelihood of the outcome of these lawsuits cannot presently be determined. These lawsuits involve the Company principally due to the personal guarantees by Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers, because they are also the shareholders of Xin Ao. Because Mr. Han and Mr. He are the shareholders of Xin Ao, the plaintiffs included Xin Ao in the joint complaints. Xin Ao was not involved in most of the lawsuits but named as a joint defendant in the lawsuits. As a result, Xin Ao might have exposure to any judgements in the future under PRC laws. Mr. Han and Mr. He have agreed to indemnify the Company for any amounts Xin Ao may have to pay. Should the outcome of these lawsuits require Xin Ao to pay because the other co-defendants of the lawsuits and Mr. Han. and Mr. He were unable to liquidate their personal assets or their ownership interest in their privately held companies timely to pay for the judgements, the Company’s working capital as of June 30, 2018 would be reduced from approximately $7.0 million to a net working capital deficiency of approximately $7.2 million. The management of the Company has considered whether there is a going concern issue due to the Company’s recurring losses from operations, the estimated claims charges and the possible additional exposure for pending actions against Company which is presently unknown. Based upon the personal indemnifications of Mr. Han and Mr. He and their agreement to provide the necessary funds to the Company to continue its operations should the need arise, the management of the Company believes that it has alleviated the going concern issue. Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements include the accounts of all the directly and indirectly owned subsidiaries and VIEs listed below. All intercompany transactions and balances have been eliminated in consolidation. Principles of consolidation The consolidated financial statements reflect the activities of the following subsidiaries and VIEs. All material intercompany transactions have been eliminated. Ownership BVI-ACM British Virgin Island 100 % China-ACMH Beijing, China 100 % Xin Ao Beijing, China VIE Heng Yuan Zheng Ke 3 Beijing, China VIE Hong Sheng An 2 Beijing, China VIE Heng Tai 4 Beijing, China VIE Da Tong 1 Datong, China VIE Heng Xin 2 Luanxian, China VIE 1 2 3 4 VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIEs with which the Company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIEs. The primary beneficiary is required to consolidate the VIEs for financial reporting purposes. Management makes ongoing assessments of whether China ACMH is the primary beneficiary of Xin Ao. Based upon a series of contractual arrangements, the Company determined that Xin Ao is a VIE subject to consolidation and that China ACMH is the primary beneficiary. Accordingly, the accounts of Xin Ao are consolidated with those of China ACMH. The carrying amount of the VIE’s assets and liabilities are as follows: June 30, June 30, 2018 2017 Current assets $ 50,219,221 $ 76,607,089 Property, plants and equipment 2,748,409 3,644,203 Total assets 52,967,630 80,251,292 Liabilities (43,372,069 ) (67,885,085 ) Intercompany payables* (7,705,339 ) (7,088,094 ) Total liabilities (51,077,408 ) (74,973,179 ) Net assets $ 1,890,222 $ 5,278,113 * Payables to China-ACMH and BVI-ACM have been eliminated in consolidation. Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s consolidated financial statements include the allowance for doubtful accounts, deferred income taxes, prepayments and advances, stock-based compensation, contingent liabilities and fair value and useful lives of property, plant and equipment. Actual results could be materially different from those estimates. Foreign currency translation The reporting currency of the Company is the U.S. dollar. The functional currency of China ACM and BVI-ACM is the U.S. dollar. China-ACMH and Xin Ao use their local currency, the Chinese Renminbi (“RMB”) as their functional currency. In accordance with U.S. GAAP guidance on Foreign Currency Translation, the Company’s results of operations and cash flows are translated at the average exchange rates during the period, assets and liabilities are translated at the exchange rates at the balance sheet dates, and equity is translated at historical exchange rates. As a result, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Asset and liability accounts at June 30, 2018 and 2017 were translated at RMB 6.62 and RMB 6.78 to USD$1.00, respectively. The average translation rates applied to the consolidated statements of operations and comprehensive loss and cash flows for the years ended June 30, 2018 and 2017 were RMB 6.51 and RMB 6.81 to USD$1.00, respectively. Translation gains (losses) that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations. There were no foreign currency transaction gains or losses for the years ended June 30, 2018 and 2017. The effects of foreign currency translation adjustments are included in shareholders’ equity as a component of accumulated other comprehensive income (loss). Revenue recognition Revenue is realized or realizable and earned when the following four criteria are met: ● Persuasive evidence of an arrangement exists (the Company considers its sales contracts to be pervasive evidence of an arrangement); ● Delivery has occurred; ● The seller’s price to the buyer is fixed or determinable; and ● Collectability of payment is reasonably assured. The Company sells its concrete products primarily to major local construction companies. Sales agreements are signed with each customer. The agreements list all terms and conditions with the exception of delivery date and quantity, which are evidenced separately in purchase orders. The purchase price of products is fixed in the agreement and customers are not permitted to renegotiate after the contracts have been signed. The agreements include a cancellation clause if the Company or customers breach the contract terms specified in the agreement. On July 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. The core principle underlying revenue recognition is that the Company will recognize revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This will require the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company’s revenue streams are primarily recognized at a point in time. The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance should not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition. Financial instruments US GAAP, regarding fair value of financial instruments and related fair value measurements define fair value, establish a three-level valuation hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; Level 3 inputs to the valuation methodology are unobservable. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest. Cash and cash equivalents The Company considers all highly liquid investments with the original maturity of three months or less at the date of purchase to be cash equivalents. The Company currently maintains substantially all of its day-to-day operating cash balances with major financial institutions within the PRC and the United States. As of June 30, 2018 and 2017, the Company had deposits in excess of federally insured limits totaling approximately $0.3 million and $0.2 million, respectively, outside the United States. Restricted cash Restricted cash consisted of collateral representing cash deposits for bank guarantees and notes payable. Accounts receivable The Company extends unsecured credit to its customers in the normal course of business. Accounts are considered past due after 30 days. In establishing the required allowance for doubtful accounts, management considers historical experience, the economic environment, trends in the construction industry and the expected collectability of the overdue receivables. Management reviews its accounts receivable each reporting period to determine if the allowance for doubtful accounts is adequate. An estimate for doubtful accounts is recorded when collection of the full amount is no longer probable. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovering is considered remote. The Company provides an allowance for doubtful accounts provision of 15% for accounts receivable balances that are past due more than 180 days but less than one year, an allowance for doubtful accounts provision of 40% of for accounts receivable past due from one to two years, an allowance for doubtful accounts provision of 75% for accounts receivable past due beyond two years, an allowance for doubtful accounts provision of 100% for accounts receivable past due beyond three years, plus additional amounts as necessary when the Company’s collection department determines the collection of the full amount is remote and the Company’s management approves 100% of the allowance for doubtful accounts. The Company’s management has continued to evaluate the reasonableness of its valuation allowance policy and will update it if necessary. Inventories Inventories consist of raw materials and are stated at the lower of cost or market, as determined using the weighted average cost method. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventory to its market value, if lower than cost. As of June 30, 2018 and 2017, the Company determined that no allowance was necessary. Other receivables Other receivables primarily include prepayments to be refunded by our suppliers if the supplies do not meet the Company’s specification needs, advances to employees, amounts due from unrelated entities refundable, VAT tax and other deposits. Management regularly reviews the aging of receivables and changes in payment trends and records an allowance when management believes collection of amounts due are at risk. Accounts considered uncollectible are written off against the allowance after exhaustive efforts at collection are made. The Company provides an allowance for doubtful accounts of 5% for other receivables balances that are aged within one year, an allowance for doubtful accounts of 50% for other receivables aged from one to two years, and an allowance for doubtful accounts of 100% for other receivables aged beyond two years. Prepayments and advances Prepayments are funds deposited or advanced to outside vendors for future inventory purchases. As is standard practice in the PRC, many of the Company’s vendors require a certain amount to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which require any outstanding prepayments to be returned to the Company when such contracts end. The Company provides a provision of 5% of the allowance for doubtful accounts for prepayments and advances that are aged from six months to one year and 10% of the allowance for doubtful accounts for prepayments and advances aged beyond one year. The Company provided an allowance of approximately $0.3 million and $0 for the year ended June 30, 2018 and 2017, respectively. The Company wrote off approximately $0 and $0.2 million on unrealizable prepayments for the year ended June 30, 2018 and 2017, respectively. Property, plant and equipment Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations as incurred while additions, renewals and improvements are capitalized. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method with a 5% residual value. Leasehold improvements are amortized over the lesser of estimated useful lives or remaining lease terms, as appropriate. The estimated useful lives of assets are as follows: Useful life Transportation equipment 7-10 years Plants and machinery 10 years Office equipment 5 years Buildings and improvements 3-20 years Accounting for long-lived assets The Company classifies its long-lived assets into: (i) transportation equipment; (ii) plants and machinery; (iii) office equipment; and (iv) buildings and improvements. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technological or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. If the value of an asset is determined to be impaired, the impairment to be recognized is measured in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or the fair value, less disposition costs. There were no impairment charges for the years ended June 30, 2018 and 2017. Competitive pricing pressures and changes in interest rates could materially and adversely affect the Company’s estimates of future net cash flows to be generated by the long-lived assets, and thus could result in future impairment losses. Stock-based compensation The Company records stock-based compensation expense at fair value on the grant date and recognizes the expense over the employee’s requisite service period. The Company’s expected volatility assumption is based on the historical volatility of Company’s stock. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is based on the Company’s current and expected dividend policy. Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes,” which requires the Company to use the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between financial statement carrying amounts and the tax bases of existing assets and liabilities and operating loss and tax credit carry forwards. Under this accounting standard, the effect on deferred income taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all of, a deferred tax asset will not be realized. ASC 740-10, “Accounting for Uncertainty in Income Taxes,” defines uncertainty in income taxes and the evaluation of a tax position as a two-step process. The first step is to determine whether it is more likely than not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. United States federal, state and local income tax returns prior to 2015 are not subject to examination by any applicable tax authorities. PRC tax returns filed in 2018 and prior years are subject to examination by any applicable tax authorities. Value Added Tax Enterprises or individuals who sell commodities, engage in repair and maintenance, or import and export goods in the PRC are subject to a value added tax. The standard VAT rate for the Company’s industry is 3% of gross sales, and revenues are presented net of VAT. Research and development Research and development costs are expensed as incurred. The cost of materials and equipment that are acquired or constructed for research and development activities, and have alternative future uses, either in research and development, marketing, or sales, are classified as property and equipment, and depreciated over their estimated useful lives. Earnings (loss) per share The Company reports earnings (loss) per share in accordance with U.S. GAAP, which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts, such as warrants, options, restricted stock based grants and convertible preferred stock, to issue common stock were exercised and converted into common stock. Common stock equivalents having an anti-dilutive effect on earnings per share are excluded from the calculation of diluted earnings per share. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. When the Company has a loss, no potential dilutive items are included since they would be antidilutive. Stock dividends or stock splits are accounted for retroactively if the stock dividends or stock splits occur during the period, or retroactively if the stock dividends or stock splits occur after the end of the period but before the release of the financial statements, by considering it outstanding as of the beginning of each period presented. Comprehensive income (loss) Comprehensive income (loss) consists of net income (loss) and foreign currency translation adjustments. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU No. 2015-14, “Deferral of the Effective Date” (“ASU 2015-14”), which defers the effective date for ASU 2014-09 by one year. For public entities, the guidance in ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2018 (including interim reporting periods within those periods), which means it will be effective for the Company’s fiscal year beginning July 1, 2018. In March 2016, the FASB issued ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue versus Net)” (“ASU 2016-08”), which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. In April 2016, the FASB issued ASU No. 2016-10, “Identifying Performance Obligations and Licensing” (“ASU 2016-10”), which reduces the complexity when applying the guidance for identifying performance obligations and improves the operability and understandability of the license implementation guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This update will require the recognition of a right-of-use asset and a corresponding lease liability, initially measured at the present value of the lease payments, for all leases with terms longer than 12 months. For operating leases, the asset and liability will be expensed over the lease term on a straight-line basis, with all cash flows included in the operating section of the statement of cash flows. For finance leases, interest on the lease liability will be recognized separately from the amortization of the right-of-use asset in the statement of comprehensive income and the repayment of the principal portion of the lease liability will be classified as a financing activity while the interest component will be included in the operating section of the statement of cash flows. ASU 2016-02 is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Upon adoption, leases will be recognized and measured at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently evaluating the impact of the adoption of ASU 2016-02 on its unaudited condensed consolidated financial statements and related disclosures. In May 2016, the FASB issued ASU No. 2016-12 “Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”), which amends the guidance on transition, collectability, noncash consideration and the presentation of sales and other similar taxes. In December 2016, the FASB further issued ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” (“ASU 2016-20”), which makes minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments are intended to address implementation and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These amendments have the same effective date as the new revenue standard. On July 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the definition of a business. The amendments in this ASU is to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Management plans to adopt this ASU early after the quarter ending September 2018. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In March 2017, the FASB issued Accounting Standards Update (ASU) No., 2017-09, Compensation-Stock Options (Topic 718): Improvements to Employee Share-Based Payment Accounting. The areas for simplification in this amendment include the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. For all other

Accounts and Notes Receivable,

Accounts and Notes Receivable, Net	12 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Accounts and notes receivable, net	Note 3 – Accounts and notes receivable, net Accounts and notes receivable, net consisted of the following: June 30, June 30, Accounts receivable $ 62,610,943 $ 63,370,426 Notes receivable 3,292 - Less: Allowance for doubtful accounts (19,291,772 ) (15,827,349 ) Total accounts and notes receivable, net $ 43,322,463 $ 47,543,077 Movement of allowance for doubtful accounts is as follows: Year ended Year ended Beginning balance $ 15,827,349 $ 11,524,131 Provision for doubtful accounts 3,145,087 3,987,890 Add: recovery - 524,789 Exchange rate effect 319,336 (209,461 ) Ending balance $ 19,291,772 $ 15,827,349 During the years ended June 30, 2018 and 2017, the Company offset approximately $6.9 million and $1.5 million of accounts receivable and accounts payable pursuant to certain three-party settlement agreements, respectively.

Other Receivables, Net

Other Receivables, Net	12 Months Ended
	Jun. 30, 2018
Other Receivables Net [Abstract]
Other receivables, net	Note 4 – Other receivables, net Other receivables Other receivables consisted of the following: June 30, June 30, Other receivables $ 279,339 $ 1,653,351 Other receivable from sale of Asset Group - 18,867 Less: Allowance for doubtful accounts (208,097 ) (1,432,095 ) Total other receivables, net $ 71,242 $ 240,123 Movement of allowance for doubtful accounts is as follows: Year ended Year ended Beginning balance $ 1,432,095 $ 2,334,672 Recovery of doubtful accounts (1,280,566 ) (852,275 ) Exchange rate effect 56,568 (50,302 ) Ending balance $ 208,097 $ 1,432,095

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Property, plant and equipment, net	Note 5 – Property, plant and equipment, net Property, plants and equipment consist of the following: June 30, June 30, Machinery and equipment $ 917,017 $ 896,326 Transportation equipment 4,399,356 4,249,609 Office equipment 1,221,704 1,168,846 Buildings and improvements 458,718 308,636 Total 6,996,795 6,623,417 Less: Accumulated depreciation and amortization (4,248,386 ) (2,979,214 ) Plants and equipment, net $ 2,748,409 $ 3,644,203 Depreciation expense amounted to approximately $1.2 million for each of the years ended June 30, 2018 and 2017, respectively.

Credit Facilities

Credit Facilities	12 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Credit Facilities	Note 6 – Credit Facilities Short term loans - banks: Outstanding balances on short-term bank loans consisted of the following: June 30, June 30, Loans from China Construction Bank, with an interest rate of 4.35% per annum, due March 2018, guaranteed by Beijing Jinshengding Mineral Products Co., LTD, Mr. Xianfu Han, Ms. Chunying Wang, Mr. Weili He and Ms. Junkun Chen. $ - $ 17,700,720 Loans from China Construction Bank, each with an interest rate of 5.66% to 6.09% per annum, due between July 2018 and December 2018, guaranteed by Beijing Jinshengding Mineral Products Co., LTD, Mr. Xianfu Han, Ms. Chunying Wang, Mr. Weili He, and Ms. Junkun Chen. 26,062,665 - $ 26,062,665 $ 17,700,720 Beijing Jinshengding Mineral Products Co., LTD is a supplier to the Company. Mr. Xianfu Han is the Company’s Chief Executive Officer. Chunying Wang is the spouse of Mr. Xianfu Han. Mr. Weili He is the Company’s Interim Chief Financial Officer. Ms. Junkun Chen is the spouse of Mr. Weili He. Also see Note 7 – Related party transactions. Interest expense was approximately $1.4 million and $0.8 million for the years ended June 30, 2018 and 2017, respectively. The Company has an approximately $31.7 million (RMB210, 000,000) credit facility from China Construction Bank (the “CCB Credit Facility”), which was extended in August 2017 through August 2018. The Company’s availability under the CCB Credit Facility was $5.6 million as of June 30, 2018. The Company has completed the application for extension as of the report date and is waiting for the approval. Notes payable: Bank notes are issued under the CCB Credit Facility for inventory purchases. The notes payable are guaranteed by Beijing Jinshengding Mineral Products Co., LTD., Xianfu Han and his spouse, Chunying Wang, and Weili He and his spouse, Junkun Chen, and amounted to approximately $0 and $14.0 million as of June 30, 2018 and 2017, respectively. The notes are generally charged with a transaction fee of 0.1% of the note amount. The Company paid $0 and $0.6 million in transactions fees which have been included in bank charges for the years ended June 30, 2018 and 2017, respectively. The notes are not extended beyond due to their short term nature. The restricted cash for the notes was approximately $0 and $4.2 million as of June 30, 2018 and 2017, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related party transactions	Note 7 – Related party transactions Rent expense - related party The Company has a lease agreement for office space from Mr. Weili He, the Company’s Interim Chief Financial Officer, through October 31, 2023, with annual payments of approximately $25,000. Prepayments - related party Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers, are holding positions as president and director of Ningbo Lianlv Investment Ltd., respectively. This company owns 99% of the shares of Beijing Lianlv Technical Group Ltd. (“Beijing Lianlv”), the Company’s supplier. As of June 30, 2018 and 2017, the Company prepaid $3,027,409 and $6,996,400 to Beijing Lianlv for inventory purchases, respectively. Due to Beijing Lianlv being named as a joint defendant in one of the civil lawsuits of the Company, the Company provided a provision of 5% of an allowance for doubtful accounts for Beijing Lianlv’s prepayment that are aged from six months to one year and 10% for the balance beyond one year. As of June 30, 2018, the Company made an allowance approximately $0.3 million for prepayments – related party. Other receivable - related party This balance represents a litigation raised from a related party, whose shareholders are Mr. Han and Mr. He. The creation of the litigation is due to the fact that Xin Ao signed a capital lease agreement on behalf of Bejing Lianlv. The balance was subsequently offset and indemnified by Mr. Han and Mr. He in September 2018. As of June 30, 2018, other receivable from Beijing Lianlv was $1,397,042. Other payables – shareholders Mr. Xiaofu Han and Mr. Weili He have advanced funds to BVI-ACM for working capital purposes. The advances are non-interest bearing, unsecured, and are payable in cash on demand. They and their spouses have also guaranteed certain short-term loans payable and notes payable of the Company (see Note 6). The other payables-shareholders balance also includes the Company’s salary payable to the two individuals and payment made to settle a legal claim. Other payables - shareholders consisted of the following: June 30, June 30, Xianfu Han $ 91,336 $ 1,402,423 Weili He 104,428 1,523,120 $ 195,763 $ 2,925,543 As of June 30, 2018, the balance of other payables-shareholders is $195,763. As of June 30, 2017, the combined balance of other payables-shareholders includes $1,800,000 of salary payable, $461,766 loans payable to Mr. Han and Mr. He, and $663,777 of payment made by Beijing Lianlv on behalf of the shareholders to settle a legal claim of the Company.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	Note 8 – Income taxes (a) Corporate income tax China ACM is organized in the United States. China ACM had no taxable income for United States income tax purposes for the years ended June 30, 2018 and 2017, respectively. As of June 30, 2018, China ACM’s net operating loss carry forward for United States income taxes was approximately $0.3 million. The net operating loss carry forwards are available to reduce future years’ taxable income through year 2038. Management believes that the realization of the benefits from these losses appears uncertain due to the Company’s operating history and continued losses in the United States. Accordingly, the Company has provided a 100% valuation allowance on the deferred tax asset to reduce the asset to zero. Management reviews this valuation allowance periodically and makes changes accordingly. On December 22, 2017, the “Tax Cuts and Jobs Act” (“The Act”) was enacted. Under the provisions of the Act, the U.S. corporate tax rate decreased from 35% to 21%. As the Company has a June 30 fiscal year-end, the lower corporate income tax rate will be phased in, resulting in a U.S. statutory federal rate of approximately 28% for our fiscal year ending June 30, 2018, and 21% for subsequent fiscal years. Accordingly, we have adjusted our deferred tax assets on net operating loss carryforwards in the U.S at the lower enacted tax rate of 21%. However, this adjustment has no effect on the Company’s income tax expense as the Company has provided a 100% valuation allowance on its deferred tax assets previously. Additionally, the Tax Act imposes a one-time transition tax on deemed repatriation of historical earnings of foreign subsidiaries, and future foreign earnings are subject to U.S. taxation. However, this one-time transition tax had no effect on the Company’s income tax expense as the Company has no undistributed foreign earnings prior to December 31, 2017 because the Company has had foreign losses through the quarter ended December 31, 2017. BVI-ACM is incorporated in the British Virgin Islands (“BVI”), where its income tax rate is 0% under current BVI law. China-ACMH and VIE-Chinese operations China-ACMH and Xin Ao are governed by the income tax laws of the PRC. Income tax provisions with respect to operations in the PRC are calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Chinese Enterprise Income Tax (“EIT”) law, the statutory corporate income tax rate applicable to most companies is 25%. In 2009, Xin Ao applied and received an Enterprise High-Tech Certificate. The High-Tech Certificate is required to be renewed every 3 years. The certificate was awarded based on Xin Ao’s involvement in producing high-tech products, its research and development, as well as its technical services. As granted by the State Administration of Taxation of the PRC, Xin Ao was entitled to a reduction in its income tax rate from 25% to 15% until July 21, 2018. The Company has completed the application for the updated certificate as of the report date and is waiting for the approval. The EIT Law imposes a 10% withholding income tax, subject to reduction based on tax treaties where applicable, for dividends distributed by a foreign invested enterprise to its immediate holding company outside China. Such dividends were exempted from PRC tax under the previous income tax laws and regulations. The Company intends to permanently reinvest undistributed earnings of its Chinese operations located in the PRC. As a result, there is no deferred tax expense related to withholding tax on the future repatriation of these earnings. Loss before provision for income taxes consisted of: Years ended June 30, 2018 2017 USA and BVI $ (2,744,479 ) $ (1,352,589 ) PRC (4,655,486 ) (9,685,531 ) $ (7,399,965 ) $ (11,038,120 ) Significant components of deferred tax assets were as follows: June 30, June 30, Deferred tax assets Allowance for doubtful accounts $ 2,972,087 $ 2,588,917 Accrued claims charges 611,363 190,094 Impairment loss of long-lived assets 393,673 393,673 Net operating loss carryforward in China 145,641 411,436 Net operating loss carryforward in the U.S. 62,852 238,649 Valuation allowance (4,185,616 ) (3,822,769 ) Total deferred tax assets $ - $ - As of June 30, 2018 and 2017, the Company believes it is more likely than not that its PRC operations will be unable to fully utilize its deferred tax assets related to its allowance for doubtful accounts, impairment loss of long-lived assets and the net operating loss carryforwards in the PRC. If the Company is unable to generate taxable income in its PRC operations, it is more likely than not that it will not have sufficient income to utilize its deferred tax assets. As of June 30, 2018, the Company has a net operating loss carry forward in the PRC that expires in 2022. As a result, the Company provided a 100% allowance on all deferred tax assets of approximately $4.1 million and $3.8 million related to its operations in the PRC as of June 30, 2018 and 2017, respectively. The Company has incurred losses from its United States operations during all periods presented. Accordingly, management provided approximately $0.1 million and $0.2 million of valuation allowance against the deferred tax assets related to the Company’s United States operations as of June 30, 2018 and 2017, respectively, because the deferred tax benefits of the net operating loss carry forward in the United States might not be utilized. The following table reconciles the U.S. statutory rates to the Company’s effective tax rate for the years ended June 30, 2018 and 2017. June 30, June 30, 2018 2017 U.S. statutory rates 21 % 34 % Foreign income not recognized in the U.S. (21 %) (34 %) PRC statutory rates 25 % 25 % Preferential tax treatment (10 %) (10 %) Change in valuation allowance 5 % (27 %) Non-deductible PRC expenses (20 %) 12 % Effective income tax rates (0 %) (0 %) As of June 30, 2018 and 2017, the Company had $178,190 and $103,419 of other business taxes payable, respectively. (b) Uncertain tax positions There were no uncertain tax positions as of June 30, 2018 and 2017. Management does not anticipate any potential future adjustments which would result in a material change to its tax positions. For the years ended June 30, 2018 and 2017, the Company did not incur any tax related interest or penalties.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Shareholders' equity	Note 9 – Shareholders’ equity Restricted Stock Grants Restricted stock grants are measured based on the market price on the grant date. The Company has granted restricted shares of common stock to the members of the board of directors (the “Board”), senior management and consultants. In August 2016, the Board granted an aggregate of 106,859 shares of restricted common stock, which were issued with a fair value of $308,823 to a consultant under the 2009 Plan. These shares were to vest in two tranches upon achieving certain performance-based milestones. On January 15, 2018, 50,000 shares vested on the first tranche and the remaining 56,859 shares have been forfeited and cancelled. In August 2016, the Board granted an aggregate of 100,000 shares of restricted common stock, which were issued with a fair value of $289,000 to two employees under the 2009 Plan. These shares vested immediately upon grant. In January 2018, the Board granted an aggregate of 56,859 shares of restricted common stock, which were issued with a fair value of $244,494 to one employee under the 2009 Plan. These shares vested immediately upon grant. As of June 30, 2018, there was no shares available under the 2009 Plan. For the years ended June 30, 2018 and 2017, the Company recognized approximately $0.4 million and $0.3 million compensation expense related to restricted stock grants, respectively. Following is a summary of the restricted stock grants: Restricted stock grants Shares Weighted Average Aggregate Unvested as of June 30, 2016 - $ - $ - Granted 206,859 $ 2.89 $ 597,823 Vested (100,000 ) $ 2.89 $ (289,000 ) Unvested as of June 30, 2017 106,859 $ 2.89 $ 308,823 Forfeited (56,859 ) $ 2.89 $ (164,323 ) Granted 56,859 $ 4.30 $ 244,494 Vested (106,859 ) $ 3.64 $ (388,994 ) Unvested as of June 30, 2018 - $ - Common Stock Issued for Debt Settlement In April 2018, the Board granted an aggregate of 985,889 shares of restricted common stock, which were issued on May 4, 2018 with a fair value of $2,021,073, determined using the closing price of $2.05 on April 3, 2018, to Mr. Xianfu Han, the Chief Executive Officer (“CEO”) of the Company, to repay the debt the Company owed to the CEO. In April 2018, the Board granted an aggregate of 896,766 shares of restricted common stock, which were issued on May 4, 2018 with a fair value of $1,838,370, determined using the closing price of $2.05 on April 3, 2018, to Mr. Weili He, the Chief Financial Officer (“CFO”) of the Company’s, to repay the debt the Company owes to the CFO. Common Stock Issued for Compensation In April 2018, the Board granted an aggregate of 200,000 shares of common stock, which were issued with a fair value of $410,000, determined using the closing price of $2.05 on April 3, 2018, to two employees under the 2009 Plan. In May 2018, the Board granted an aggregate of 218,336 shares of common stock, which were issued with a fair value of $589,507, determined using the closing price of $2.70 on May 21, 2018, to five employees under the 2009 Plan. Issuance of Common Stock In May 2018, the Company sold 300,000 shares of common stock at the price of $2.00 per share to certain unrelated third-party individuals. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In June 2018, the Board granted an aggregate of 500,000 shares of common stock with a fair value of $2,825,000, determined using the closing price of $5.65 on June 28, 2018, to two service providers. These shares were issued in July 2018 and to be amortized over the service period of one year starting from July 1, 2018.

Reserves and Dividends

Reserves and Dividends	12 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Reserves and dividends	Note 10 – Reserves and dividends The laws and regulations of the PRC require that before a foreign invested enterprise can legally distribute profits, it must first satisfy all its tax liabilities, provide for losses in previous years, and make allocations, in proportions determined at the discretion of the board of directors, after setting aside the required statutory reserves. Statutory reserves include the surplus reserve fund and the common welfare fund. The Company is required to transfer 10% of its net income, as determined in accordance with the PRC accounting rules and regulations, to a statutory surplus reserve fund until such reserve balance reaches 50% of the Company’s registered capital. As of June 30, 2018 and 2017, the remaining reserve to fulfill the 50% registered capital requirement amounted to approximately $0.8 million as of each of the years ended June 30, 2018 and 2017. Transfers to statutory reserves must be made before the distribution of any dividends to the Company’s shareholders. The surplus reserve fund is non-distributable other than during liquidation. The surplus reserve fund can however be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them, provided that the remaining reserve balance after such issue is not less than 25% of the registered capital. The PRC government restricts distributions of registered capital and the additional investment amounts required by foreign invested enterprises. Approval by the PRC government must be obtained before distributions of these amounts can be returned to the shareholders.

Employee Post-Retirement Benefi

Employee Post-Retirement Benefits	12 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Employee post-retirement benefits	Note 11 – Employee post-retirement benefits The Company offers a defined contribution plan to eligible employees which consists of two parts: (i) the first part, paid by the Company, is 20% of the employee’s compensation from the prior year and (ii) the second part, paid by the employee, is 8% of the employee’s compensation. The Company’s contributions of employment benefits were approximately $0.5 million and $0.7 million for each of the years ended June 30, 2018 and 2017, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 12 – Commitments and contingencies Lease Commitments The Company has a lease agreement for a concrete service plant with an unrelated party which will expire on September 30, 2022, with annual payments of approximately $424,000. The Company has a lease agreement for roadway access to the west side entry of the concrete service plant with an unrelated party, which will expire on June 30, 2019, with annual payment of approximately $15,000. The Company has a lease agreement for office space from Mr. Weili He, the Company’s Interim Chief Financial Officer, through October 31, 2023, with annual payments of approximately $25,000. The Company has a lease agreement for office space in New York through May 31, 2019, with annual payments of $27,600. Operating lease expenses are allocated between the cost of revenue and selling, general, and administrative expenses. Total operating lease expenses were approximately $0.4 million and $0.2 million for the years ended June 30, 2018 and 2017, respectively. Future annual lease payments under non-cancelable operating leases with a term of one year or more consist of the following: Twelve months ending June 30, Amount 2019 $ 489,000 2020 449,000 2021 449,000 2022 449,000 2023 131,000 Total $ 1,967,000 Guarantee In April 2018, the Company guaranteed approximately $10.4 million (RMB 69,000,000) that a related-party borrowed from the bank: Name of party being guaranteed Guaranteed amount Guarantee Beijing Lianlv (borrower) $ 10,419,000 April 11, 2019 The Company did not, however, accrue any liability in connection with such guarantee because the borrower has been current in its repayment obligation. As of the date of this report, the Company has evaluated the guarantee and has concluded that the likelihood of having to make any payments under the guarantee agreement is remote. Contingencies From time to time, the Company is a party to various legal actions. The majority of these claims and proceedings relate to or arise from, commercial disputes, labor contract complaints and sales contract complaints. The Company accrues costs related to these matters when they become probable and as a result the amount of loss can be reasonably estimated (See Dispute Matters Arising in the Ordinary Course of Business for more information). In determining whether a loss from a claim is probable, and if it is possible to estimate the loss, the Company reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If the Company determines a favorable outcome is probable, or that the amount of loss cannot be reasonably estimated, the Company does not accrue costs for a potential litigation loss. In those situations, the Company discloses an estimate of the probable losses or a range of possible losses, if such estimates can be made as indicated below (See Legal Matters). Currently, except as otherwise noted below, the Company does not believe that it is possible to estimate the potential losses incurred or a range of reasonably possible losses related to the outstanding claims. Legal costs incurred in connection with loss contingencies are expensed as incurred. As of June 30, 2018, the Company’s VIE, Xin Ao, was subject to several civil lawsuits for which the Company estimated that it is more than likely to pay judgments in the amount of approximately $4.4 million (including interest and penalty of $0.2 million). These amounts are presented in the accompanying consolidated balance sheets (See Accrued Contingent Liabilities). During the year ended June 30, 2018, additional estimated claims charges of approximately $2.8 million for remaining claim balances are presented in the accompanying consolidated statements of operations under the caption “Estimated claims charges”. As of the date of this 10-K, the Company’s management does not expect any other material liability from the disposition of claims from litigation individually, or in the aggregate that would have a material adverse impact on the Company’s consolidated financial position, results of operations and cash flows. Due to the Company’s operations in the PRC and the legal environment in the PRC, it is possible that the Company’s VIE, Xin Ao could be named as a defendant in the litigation based upon the guarantees of Mr. Han and Mr. He and/or their related parties. (i) Disputes Arising in the Ordinary Course of Business As of June 30, 2018, the Company had approximately $4.4 million in accrued contingent liabilities, net of litigation paid by related party of approximately $1.3 million, and an additional $2.8 million estimated claims charges for the year ended June 30, 2018. As of June 30, 2018, further details regarding the type of litigation disputes and accrued costs associated with the claims are summarized as follows: Dispute matter Claim Interest and penalties Total claim amount as of June 30, 2018 1) Guarantees $ 2,234,358 $ - $ 2,234,358 2) Sales 20,922 9,324 30,246 3) Purchase 1,139,424 125,761 1,265,185 4) Leases 2,066,269 95,987 2,162,256 5) Labor 27,003 - 27,003 6) Others 12,738 - 12,738 Total $ 5,500,714 $ 231,072 5,731,786 Payments (1,300,999 ) Accrued contingent liabilities $ 4,430,787 The major legal cases are summarized as follows: 1) Guarantee In December 2016, the Company guaranteed approximately $2.2 million (RMB 14,736,000) that a third-party borrowed from bank: Name of party being guaranteed Guaranteed amount Guarantee Tangshan Long Tang Trading Co., Ltd $ 2,225,136 December 29, 2017 This loan has not paid as of the date of this report. As of the date of this report, the Company has evaluated the guarantee and has concluded that the likelihood of having to make any payments under the guarantee agreement is probable. The Company accrued approximately $2.2 million contingent liability in connection with such guarantee. 2) Sales dispute (a) On August 10, 2017, Guowang International Finance Leasing Co. Ltd. (“Gouwang”) filed a lawsuit against Xin Ao in People’s Court of Nankai District, Tianjin Province (“Nankai Court”) to seek compensatory damages in connection with Xin Ao’s failure to make payments under a financing lease agreement. On October 23, 2017, Nankai Court ruled against Xin Ao and rendered a judgement to award damages in an amount of RMB 9,168,463 (approximately US$1.4 million) to Guowang (the “Decision”). On September 26, 2018, Xin Ao made an appeal to the Decision in Tianjin First Intermediate People’s Court. The appeal was rejected in its entirety with prejudice. As of date of this report, Xin Ao has not made any payment. This agreement was initially entered into by Xin Ao for the benefit of a related party that is owned by the Company’s major shareholders. Accordingly, the Company accrued approximately $1.4 million as a liability and a corresponding “Other Receivable – Related Party” in the same amount. Should the entity not repay the Company, the major shareholders have agreed to indemnify the Company for any unpaid amounts. (b) On April 30, 2016, China Black Metal Materials Beijing Co., Ltd (“China Black Metal”) filed a lawsuit against Xin Ao and Beijing Jinshengding Mineral Products Co., Ltd. (“Jinshengding”) in connection with their failure to make payments under a lease agreement. The court ruled that effective December 28, 2016, the lease agreement was void and Xin Ao and/or Jinshengding shall make a repayment to China Black Metal which shall include rent due from December 4, 2015 to December 28, 2016 in an amount of RMB 1,572,669, plus interest, expenses for utilities in an amount of RMB 271,579 (approximately US$41,000), penalty under the agreement of RMB 250,000 (approximately US$38,000), legal fees of RMB 73,238 (approximately US$11,000) and rent due from December 28, 2016 to June 30, 2018 of RMB 2,264,329 (approximately US$0.3 million). The total amount of compensation is RMB 4,431,816 (approximately US$0.7 million). As of date of this report, Jinshengding has paid RMB 1,800,000 (approximately US$0.3 million) out of the total compensation. (ii) Legal matters As of June 30, 2018, the Company’s VIE, Xin Ao, was subject to several civil lawsuits with potential judgments in the amount of approximately $14.2 million and the likelihood of the outcome of these lawsuits cannot be determined as of the date of this report. These lawsuits involved with the Company were mainly due to the personal guarantees by Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers, which they are also the shareholders of Xin Ao. Because Mr. Han and Mr. He are the shareholders of Xin Ao, the plaintiffs included Xin Ao in the joint complaints. Xin Ao was not involved in some of the lawsuits but named as a joint defendant in the lawsuits. As a result, Xin Ao might have exposure to the pending judgements in the future under PRC laws. On September 28, 2018, Mr. Han and Mr. He signed an agreement with the Company to waive the liabilities of the Company and personally become responsible for all of the pending potential judgements amount from these related civil lawsuits. Both Mr. Han and Mr. He agreed to liquidate their personal assets or their ownership interest in their privately held companies to pay for any of the pending potential judgements amounts of approximately $14.2 million. The type of litigation disputes with contingencies associated are summarized as follows as of June 30, 2018: Dispute matter Claim Interest and penalties Total claim amount as of June 30, 2018 1) Guarantees $ 58,126,066 $ 10,442,814 $ 68,568,880 2) Purchase 1,643,380 41,476 1,684,856 3) Leases 928,387 - 928,387 4) Labor 236,542 - 236,542 Total $ 60,934,375 $ 10,484,290 71,418,665 Settled claims (57,257,305 ) Remaining claims amount $ 14,161,360 The major legal cases are summarized as follows: 1) Claims Resulting from Executives’ Personal Guarantee to Affiliated Entities (a) Mr. Xianfu Han, the CEO and director of the Company and a shareholder of Xin Ao, Mr. Weili He, the interim CFO and director of the Company and a shareholder of Xin Ao, and Xin Ao (the “Defendants”) were parties to a lawsuit filed on June 23, 2017, by China Cinda Asset Management Co., Ltd. Beijing Branch (“Cinda Beijing Branch”) in the Beijing First Intermediate People’s Court (the “Beijing Intermediate Court”) to seek compensatory damages, liquidated damages, costs, and attorney’s fees for default in a certain loan repayment. The loan agreement was entered into by and between Xin Ao Ecological Construction Materials Co., Ltd. (“Borrower”) and Cinda Beijing Branch dated as of June 23, 2014 with Mr. Han and Mr. He acting as the guarantors for such loans (the “Guarantors”). Mr. Han and Mr. He together are the controlling shareholders of the Borrower, holding an aggregate of 60% equity interests of the Borrower. The aggregate amount of the loan was RMB288,506,497 (approximately US$43.6 million) with interest at 12.8% per annum (the “Loan”). Cinda Beijing Branch alleged that since the Borrower breached its obligation to make the repayment of the Loan on the maturity date, the Guarantors, along with Xin Ao and those entities owned or controlled by the Guarantors, should be brought into the lawsuit as co-defendants (the “Defendants”). On July 5, 2017, Beijing Intermediate Court ruled in favor of Cinda Beijing Branch and issued a judgment for execution to freeze the Defendants’ assets, an aggregate amount of RMB 304,972,608 (approximately US$46.1 million) which shall be used for the repayment of the Loan, the liquidated damages, the interest on the Loan, and other costs and expenses undertaken by Cinda Beijing Branch. Following the mediation, China Cinda Asset Management Co., Ltd. (“Cinda”), two shareholders of Da Tong Lianlv Technologies Co., Ltd. (“Datong Lianlv”), Beijing Ao Huan Fund Management Co., Ltd. (“Ao Huan”), and Shou Tai Jin Xin (Chang Xing) Investment Management Co., Ltd (“Jin Xin”) entered into a certain limited partnership agreement (the “Partnership Agreement”) on December 22, 2017 to settle the lawsuit. Datong Lianlv is an affiliate of the Company and Xin Ao. Cinda is the parent company of Cinda Beijing Branch. As provided in the Partnership Agreement, the distributions of the limited partnership shall be allocated to Cinda first, who made a capital contribution in the form of its rights, title and interests in and to the repayment of the Loan in an aggregate amount of RMB 322,435,300 (approximately US$48.7 million) (the “Capital Contribution”). Pursuant to the Partnership Agreement, payment shall be made until Cinda has received an amount equal to the aggregate of its unreturned Capital Contributions and a cumulative distribution equal to 7.5% of all distributions made. Datong Lianlv made its capital contribution in cash in an aggregate amount of RMB 150,000,000 (approximately US$22.5 million) along with its shareholders consent to transfer 99% of Datong Lianlv’s equity interests to the limited partnership. The PRC legal counsel of Xin Ao indicated that Cinda and Cinda Beijing Branch orally confirmed that this claim was fully settled in the form of the Partnership Agreement. In February 2018, the Cinda Beijing Branch filed an enforcement order with the court as the partnership has not been formed at that time. The partnership was subsequently formed in March 2018. No attempt to collect payment from Xin Ao has been made since the enforcement order was filed in February 2018. Based upon the legal opinion issued by the Company’s PRC legal counsel, Xin Ao believes a favorable outcome is probable of the exposure to the pending judgements as the enforcement order has been resolved with the establishment of the Partnership. (b) On July 11, 2018, Chengde County Rural Cooperatives Credit Union (the “Credit Union”) filed an arbitration demand (“Arbitration Demand”) with the People’s Court of Shuangqiao District, Chengde, Hebei Province (“Shuangqiao Court”) against certain entities and individuals (collectively the “Respondent”) including Xin Ao and Chengde Tianhang Concrete Co Ltd. (“Chengde Tianhang”) and Chengde Kaixuan Real Estate Development Co. Ltd. (“Chengde Kaixuan”) in connection with Tianhang’s potential default in its loan repayment. In accordance with the loan agreement, Mr. Weili He and Mr. Xianfu Han together acted as the guarantors for such loan. In addition, Mr. Han and Mr. He were the controlling shareholders and officers of Xin Ao, which is a shareholder of Chengde Tianhang. Mr. Han and Mr. He were therefore named as co-respondents in the Arbitration Demand, where the Bank sought property preservation. Shuangqiao Court, accepting the Arbitration Demand of the Bank, rendered a decision to seize the bank deposits or equivalents of Respondent in an aggregate amount of RMB 26,000,000 (approximately US$3.9 million). (c) On October 9, 2017, Yong Fan filed a lawsuit against Beijing Lianlv Technology Group Co. Ltd (“Beijing Lianlv”), Xin Ao, and Mr. Weili He, in connection with Beijing Lianlv’s failure to pay off the principal and interest of RMB2,927,400 (approximately US$0.4 million) under its loan agreement (the “Loan Agreement”). Given that Mr. Weili He acted as the guarantor for such loan, Mr. He was brought into the lawsuit as one of the co-defendants. Since Mr. He is one of the controlling shareholders of Xin Ao, Xin Ao was also brought into the lawsuit as one of the co-defendants. The Court rendered a judgement in May 2018, ruling that 1) Beijing Lianlv shall pay Yong Fan the damages in an amount of RMB 2.895 million (approximately US$0.4 million) as principal of the loan and an amount of RMB32,400 (approximately US$5,000) as interest of the loan (the amount of expected interest was computed on the basis of the amount of principal with a simple rate of 24%per annum. As of the date of the report, Beijing Lianlv has not made any payment); 2) Xin Ao and Mr. Weili He are entitled to the right of recourse to Beijing Lianlv. (d) On January 8, 2018, Agricultural Bank of China Tangshan Branch (the “Bank”) filed an arbitration demand (“Arbitration Demand”) with People’s Court of Fengrun District, Tangshan, Hebei Province (“Fengrun Court”) against certain entities and individuals including Xin Ao and Tangshan Xinglong Technology Development Co. Ltd. (“Xinlong”) in connection with Xinlong’s breach of a loan agreement. In accordance with the loan agreement, Xin Ao, as the guarantor on such loan from the Bank, was named as co-respondent to the Arbitration Demand, where the Bank sought property preservation. Fengrun Court, accepting the Arbitration Demand of the Bank, rendered a decision to seize the bank deposits or equivalents of respondents in an aggregate amount of RMB 51,000,000 (approximately USD $7.7 million) against the respondents. Mr. Han and Mr. He provided personal indemnities for Xin Ao’s potential guarantee liability. 2) Purchase dispute (a) Beijing Jinlong Datong Trading Co. Ltd. (“Jinlong”) filed a lawsuit on April 6, 2017 against Beijing Yucheng Jianda Concrete Co. Ltd. (“Chengyu”) in the People’s Court in Changping District, Beijing (“Changping Court”) to seek compensatory damages, interest and attorney’s fees (“Chengyu Action”). A Concrete Purchase Agreement was entered into by and between Chengyu and Lida Jiye Co. Ltd. (“Lida”) on April 30, 2016 for a construction project (the “Project”). The purchase price of the concrete supplied by Lida was in an aggregate amount of RMB 5,595,093.2 (approximately US$0.8 million), the payment of which was overdue. On April 5, 2017, Lida entered into a debt assignment agreement with Jinlong to assign its right, title and interests in and to the repayment of such overdue purchase price against Chengyu. Chengyu was notified on such transaction on April 6, 2017. Xin Ao, as the contractor of the Project and one of the interested parties whose material interests are directly related to the proceeding, was bought into the lawsuit as a co-defendant. Xin Ao filed a counterclaim for a jurisdiction challenge, which was denied by the Changping Court. The Concrete Purchase Agreement provided that “any dispute arising out of the agreement shall be governed by the court located in the place the agreement was executed”, which was Changping, Beijing. On January 10, 2018, Changping Court rendered a decision in favor of Xin Ao. (b) Nanling Yirui Materials Supplier Co., Ltd. (Nanling Yirui”) filed a lawsuit against Sihong Jinghong Sheng Concrete Co., Ltd. (“Sihong”) on October 23, 2017 in the People’s Court in Nanling County, Anhui Province, to seek compensatory damages, interest and attorney’s fees. A Raw Material Purchase Agreement was entered into by and between Nanling Yirui and Sihong on April 30, 2017. The purchase price of raw materials supplied by Nanling Yirui was in an aggregate amount of RMB 3,452,799 (approximately US$0.5 million), the payment of which was overdue. Mr. Xianfu Han and Mr. Weili He are the shareholders of Sihong. Since Mr. Han and Mr. He are the controlling shareholders of Xin Ao, Xin Ao was also brought into the lawsuit as a co-defendant. The Court rendered a final judgement in June 2018 in favor of Nanling Yirui. As of the date of the report, Sihong has not made any payment. 3) Leasing disputes On March 6, 2018, Beijing Chengda Yu Concrete Co., Ltd (“Beijing Chengda”) filed a lawsuit against Xin Ao in connection with Xin Ao’s breach of a rental lease. Beijing Chengda stated that on January 24, 2014 both parties entered into a lease agreement (the “Agreement”). A lease addendum was later entered into on February 25, 2014. The Agreement provided that, effective from July 18, 2013 to April 30, 2018, XinAo shall rent Beijing Chengda’s property, the Concrete Station, and assume all credits and debts incurred during the term of the lease agreement. Mr. Xianfu Han and Mr. Weili He signed a personal guaranty agreement with Xin Ao to undertake the liabilities of Xin Ao in the event of its breach on the lease agreement. On March 31, 2017, Beijing Chengda was sued by Beijing Zhongtong Jiang Xin’hang Construction Materials Co., Ltd for an unpaid balance in an amount of RMB 6,246,059 (approximately US$0.9 million in total) in connection with utilizing the Concrete Station. Beijing Chengda then brought a lawsuit against Xin Ao for the payment of such unpaid balance together with the legal fees in connection with the lawsuit. The case is still under review by the court, and no potential judgment amount has been decided. 4) Labor disputes During 2017, Sihong Jinghong Sheng Concrete Co., Ltd. (“Sihong”) was subject to certain labor disputes. The potential total amounts of judgment is around RMB 1,701,979 (approximately US$0.3 million). Mr. Xianfu Han and Mr. Weili He are the shareholders of Sihong. Since Mr. Han and Mr. He are the controlling shareholders of Xin Ao, Xin Ao was also brought into the lawsuit as a co-defendant. As of the date of the report, Sihong has not made any payment. Employment Agreements The Company has employment agreements with its two executive officers, Mr. Han and Mr. He from July 1, 2017 until June 30, 2020. Each agreement calls for an annual base salary of $360,000 plus bonus, if any. If employment is terminated for death, disability or for cause, they are entitled to any unpaid base salary, vacation, bonus for the fiscal year ending on or prior to the date of termination and unreimbursed expenses through the date of termination. If employment is terminated for no cause, they will be entitled to the benefits previously mentioned plus two months additional base salary and continued medical benefits in accordance with the Company’s plan subject to the execution (and non-revocation) of a general release of claims against the Company and its affiliates.

Concentrations of Risk

Concentrations of Risk	12 Months Ended
	Jun. 30, 2018
Risks and Uncertainties [Abstract]
Concentrations of risk	Note 13 - Concentrations of risk Credit Risk The Company is exposed to credit risk from its cash in bank and fixed deposits, and accounts and notes receivable, other receivables and advances on equipment purchases. As of June 30, 2018, approximately $0.3 million was on deposit with a bank located in the PRC subject to credit risk. In China, the insurance coverage of each bank is RMB 500,000 (approximately USD $0.1 million). As of June 30, 2018, approximately $0.1 million was on deposit with a bank located in the US subject to credit risk. In the US, the insurance coverage of each bank is USD $250,000. Management believes that the credit risk on cash in bank and fixed deposits is limited because the counterparties are recognized financial institutions. Accounts receivable, other receivables and advances on inventory purchases are subjected to credit evaluations. An allowance has been made for estimated unrecoverable amounts which have been determined by reference to past default experience and the current economic environment. Customer Concentration Risk For the year ended June 30, 2018, the Company had one customer accounting for approximately 11.1% of total revenue. For the year ended June 30, 2017, the Company had one customer accounting for approximately 12.0% of total revenue. As of June 30, 2018 and 2017, no customer accounted for more than 10% of the total balance of accounts receivable. As June 30, 2018 and 2017, the total accounts receivable for top five customers is approximately $10.2 million and $17.9 million, respectively. For the year ended June 30, 2018, the Company had one vendor accounting for approximately 11.4% of total purchases. For the year ended June 30, 2017, the Company had one vendor representing approximately 19.0% of total purchases. As of June 30, 2018 and 2017, no vendor accounted for more than 10% of the total balance of accounts payable.

Subsequent Events

Subsequent Events	12 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent events	Note 14 – Subsequent events Unregistered Sales of Equity Securities. On July 25, 2018, the Company sold 45,977 shares of common stock at the price of $6.525 per share for total proceeds of USD$300,000 to certain third-party individuals. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. On August 23, 2018, the Company sold 50,000 shares of common stock at the price of $3.0 per share for total proceeds of USD$150,000 to certain third-party individual. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. Agreement and Plan of Merger In July 2018, the Company proposed to adopt the Agreement and Plan of Merger by and between the Company and China Advanced Construction Materials Group, Inc., an exempted company incorporated under the laws of the Cayman Islands and a wholly owned subsidiary of the Company (“CADC Cayman”). Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On July 5, 2018, the Company received a notification letter from the Nasdaq Listing Qualifications Staff of The NASDAQ Stock Market LLC (“ Nasdaq The notification received has no immediate effect on the listing of the Company’s common stock on Nasdaq. Under the Nasdaq Listing Rules, the Company has until August 20, 2018 to submit a plan to regain compliance. If the Company’s plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from June 30, 2018, or December 27, 2018, to regain compliance. The Company has submitted a compliance plan on July 31, 2018 to the Staff. On August 8, 2018, the Staff, considering the Company was proposing to seek shareholder approval to re-domicile the Company in the Cayman Islands, determined to grant the Company an extension until December 27, 2018 to regain compliance with the Rule by holding an annual meeting of shareholders.

Schedule 1 - Parent Company

Schedule 1 - Parent Company	12 Months Ended
	Jun. 30, 2018
Parent [Member]
SCHEDULE 1 - PARENT COMPANY	CHINA ADVANCED CONSTRUCTION MATERIALS GROUP, INC. SCHEDULE 1 - PARENT COMPANY BALANCE SHEETS AS OF JUNE 30, 2018 AND 2017 (UNAUDITED) 2018 2017 ASSETS CURRENT ASSETS: Cash $ 378,730 $ 456 Other receivables 2,300 - Prepaid expenses 40,458 - Total current assets 421,488 456 OTHER ASSETS: Intercompany receivable 18,574,784 17,192,991 Total other assets 18,574,784 17,192,991 Total assets 18,996,272 17,193,447 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Other payables 2,000 - Other payables - shareholders - 1,800,000 Total current liabilities 2,000 1,800,000 OTHER LIABILITIES: Loss in excess of investment in subsidiaries 9,292,064 5,514,463 Total other liabilities 9,292,064 5,514,463 Total liabilities 9,294,064 7,314,463 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS’ EQUITY: Preferred stock, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding - - Common stock, $0.001 par value, 74,000,000 shares authorized, 5,488,649 and 2,387,658 shares issued and outstanding as of June 30, 2018 and 2017, respectively 5,489 2,388 Additional paid-in-capital 48,360,368 38,662,377 Deferred stock compensation (2,825,000 ) - Deficit (49,642,916 ) (42,242,951 ) Statutory reserves 6,248,092 6,248,092 Accumulated other comprehensive income 7,556,175 7,209,078 Total shareholders’ equity 9,702,208 9,878,984 Total liabilities and shareholders’ equity $ 18,996,272 $ 17,193,447 The accompanying notes are an integral part of Schedule 1. CHINA ADVANCED CONSTRUCTION MATERIALS GROUP, INC. SCHEDULE 1 - PARENT COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR THE YEARS ENDED JUNE 30, 2018 AND 2017 (UNAUDITED) 2018 2017 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES $ (2,247,106 ) $ (889,000 ) LOSS FROM OPERATIONS (2,247,106 ) (889,000 ) OTHER INCOME (EXPENSE), NET Interest income 13 - Finance expense (26 ) - Equity loss of subsidiaries (5,152,846 ) (10,149,120 ) TOTAL OTHER EXPENSE, NET (5,152,859 ) (10,149,120 ) NET LOSS (7,399,965 ) (11,038,120 ) OTHER COMPREHENSIVE INCOME (LOSS) - foreign currency translation income (loss) 347,097 (499,361 ) COMPREHENSIVE LOSS $ (7,052,868 ) $ (11,537,481 ) The accompanying notes are an integral part of Schedule 1. CHINA ADVANCED CONSTRUCTION MATERIALS GROUP, INC. SCHEDULE 1 - PARENT COMPANY STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED JUNE 30, 2018 AND 2017 (UNAUDITED) 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (7,399,965 ) $ (11,038,120 ) Adjustments to reconcile net loss to cash used in operating activities: Stock-based compensation expense 1,388,501 289,000 Loss from subsidiaries 5,152,846 10,149,120 Changes in operating assets and liabilities Other receivables (2,300 ) - Prepaid expenses (40,458 ) - Intercompany receivable (42,350 ) Other payables 2,000 - Other payables - shareholders 720,000 600,000 Net cash used in operating activities (221,726 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock 600,000 - Net cash provided by financing activities 600,000 - EFFECTS OF EXCHANGE RATE CHANGE IN CASH - - NET CHANGE IN CASH 378,274 - CASH, beginning of year 456 456 CASH, end of year $ 378,730 $ 456 NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES: Common stocks issued to repay shareholders $ 3,859,443 $ - The accompanying notes are an integral part of Schedule 1. 1. Basis of presentation 2. Restricted net assets Schedule I of Article 5-04 of Regulation S-X requires the condensed financial information of registrant shall be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of a third party (i.e., lender, regulatory agency, foreign government, etc.). The condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X as the restricted net assets of the subsidiaries of China Advanced Construction Materials Group, Inc. exceed 25% of the consolidated net assets of China Advanced Construction Materials Group, Inc. The ability of our Chinese operating affiliates to pay dividends may be restricted due to the foreign exchange control policies and availability of cash balances of the Chinese operating subsidiaries. Because a significant portion of our operations and revenues are conducted and generated in China, a significant portion of our revenues being earned and currency received are denominated in Renminbi (RMB). RMB is subject to the exchange control regulation in China, and, as a result, we may be unable to distribute any dividends outside of China due to PRC exchange control regulations that restrict our ability to convert RMB into US Dollars. 3. Shareholders’ equity Restricted Stock Grants Restricted stock grants are measured based on the market price on the grant date. The Company has granted restricted shares of common stock to the members of the board of directors (the “Board”), senior management and consultants. In August 2016, the Board granted an aggregate of 106,859 shares of restricted common stock, which were issued with a fair value of $308,823 to a consultant under the 2009 Plan. These shares were to vest in two tranches upon achieving certain performance-based milestones. On January 15, 2018, 50,000 shares vested on the first tranche and the remaining 56,859 shares have been forfeited and cancelled. In August 2016, the Board granted an aggregate of 100,000 shares of restricted common stock, which were issued with a fair value of $289,000 to two employees under the 2009 Plan. These shares vested immediately upon grant. In January 2018, the Board granted an aggregate of 56,859 shares of restricted common stock, which were issued with a fair value of $244,494 to one employee under the 2009 Plan. These shares vested immediately upon grant. As of June 30, 2018, there was no shares available under the 2009 Plan. For the years ended June 30, 2018 and 2017, the Company recognized approximately $0.4 million and $0.3 million compensation expense related to restricted stock grants, respectively. Following is a summary of the restricted stock grants: Restricted stock grants Shares Weighted Average Aggregate Unvested as of June 30, 2016 - $ - $ - Granted 206,859 $ 2.89 $ 597,823 Vested (100,000 ) $ 2.89 $ (289,000 ) Unvested as of June 30, 2017 106,859 $ 2.89 $ 308,823 Forfeited (56,859 ) $ 2.89 $ (164,323 ) Granted 56,859 $ 4.30 $ 244,494 Vested (106,859 ) $ 3.64 $ (388,994 ) Unvested as of June 30, 2018 - $ - Common Stock Issued for Debt Settlement In April 2018, the Board granted an aggregate of 985,889 shares of restricted common stock, which were issued on May 4, 2018 with a fair value of $2,021,073, determined using the closing price of $2.05 on April 3, 2018, to Mr. Xianfu Han, the Chief Executive Officer (“CEO”) of the Company, to repay the debt the Company owed to the CEO. In April 2018, the Board granted an aggregate of 896,766 shares of restricted common stock, which were issued on May 4, 2018 with a fair value of $1,838,370, determined using the closing price of $2.05 on April 3, 2018, to Mr. Weili He, the Chief Financial Officer (“CFO”) of the Company’s, to repay the debt the Company owes to the CFO. Common Stock Issued for Compensation In April 2018, the Board granted an aggregate of 200,000 shares of common stock, which were issued with a fair value of $410,000, determined using the closing price of $2.05 on April 3, 2018, to two employees under the 2009 Plan. In May 2018, the Board granted an aggregate of 218,336 shares of common stock, which were issued with a fair value of $589,507, determined using the closing price of $2.70 on May 21, 2018, to five employees under the 2009 Plan. Issuance of Common Stock In May 2018, the Company sold 300,000 shares of common stock at the price of $2.00 per share to certain unrelated third-party individuals. The issuances were completed pursuant to the exemption from registration provided by Regulation S promulgated under the Securities Act of 1933, as amended. In June 2018, the Board granted an aggregate of 500,000 shares of common stock with a fair value of $2,825,000, determined using the closing price of $5.65 on June 28, 2018, to two service providers. These shares were issued in July 2018 and to be amortized over the service period of one year starting from July 1, 2018.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Liquidity	Liquidity In assessing the Company’s liquidity, the Company monitors and analyzes its cash on-hand and its operating and capital expenditure commitments. The Company’s liquidity needs are to meet its working capital requirements, operating expenses and capital expenditure obligations. The Company engages in the production of advanced construction materials for large-scale infrastructure, commercial and residential developments. The Company’s business is capital intensive and the Company is highly leveraged. Debt financing in the form of short term bank loans, loans from related parties and bank acceptance notes have been utilized to finance the working capital requirements and the capital expenditures of the Company. The Company’s working capital was approximately $7.0 million as of June 30, 2018, as compared to $6.2 million as of June 30, 2017. As of June 30, 2018, the Company had cash on-hand of approximately $1.1 million, with remaining current assets mainly composed of accounts receivable and prepayments and advances. Although the Company believes that it can realize its current assets in the normal course of business, the Company’s ability to repay its current obligations will depend on the future realization of its current assets. Management has considered its historical experience, the economic environment, trends in the construction industry, the expected collectability of its accounts receivable and other receivables and the realization of the prepayments on inventory, and provided for an allowance for doubtful accounts as of June 30, 2018. The Company expects to realize the balance of its current assets net of the allowance for doubtful accounts within the normal operating cycle of a twelve month period. If the Company is unable to realize its current assets within the normal operating cycle of a twelve month period, the Company may have to consider supplementing its available sources of funds through the following: ● Equity financing. ● Other available sources of financing from PRC banks and other financial institutions, given the Company’s credit history. ● Financial support and credit guarantee commitments from Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers. Based on the above considerations, the Company’s management is of the opinion that it has sufficient funds to meet the Company’s working capital requirements and debt obligations as they become due. However, there is no assurance that management will be successful in their plans. There are a number of factors that could potentially arise that could undermine the Company’s plans, such as changes in the demand for the Company’s products, economic conditions, competitive pricing in the concrete-mix industry, the Company’s operating results continuing to deteriorate, additional legal liabilities, or the inability of the Company’s bank and shareholders to provide continued financial support. In addition, the Company is involved in various lawsuits, claims and disputes related to its operations and the personal guarantees of its executives to affiliated entities. The Company is actively defending these actions and attempting to mitigate the Company’s exposure to any liability in excess of the current provision of approximately $4.4 million, (see Note 12 in the accompanying notes to the consolidated financial statements). The ultimate outcome of these pending actions cannot presently be determined, but currently management is of the opinion that any potential additional liability would not have a material impact on the Company’s consolidated financial position. Nevertheless, due to the uncertainties with litigation, the PRC legal system, claims and disputes, it is at least reasonably possible that management’s view of the outcome could change in the near term. Furthermore, as of June 30, 2018, the Company’s VIE, Xin Ao, was subject to several civil lawsuits with potential judgments in the amount of approximately $14.2 million (see Note 12 in the accompanying notes to the consolidated financial statements) and the likelihood of the outcome of these lawsuits cannot presently be determined. These lawsuits involve the Company principally due to the personal guarantees by Mr. Xianfu Han, and Mr. Weili He, the Company’s shareholders and officers, because they are also the shareholders of Xin Ao. Because Mr. Han and Mr. He are the shareholders of Xin Ao, the plaintiffs included Xin Ao in the joint complaints. Xin Ao was not involved in most of the lawsuits but named as a joint defendant in the lawsuits. As a result, Xin Ao might have exposure to any judgements in the future under PRC laws. Mr. Han and Mr. He have agreed to indemnify the Company for any amounts Xin Ao may have to pay. Should the outcome of these lawsuits require Xin Ao to pay because the other co-defendants of the lawsuits and Mr. Han. and Mr. He were unable to liquidate their personal assets or their ownership interest in their privately held companies timely to pay for the judgements, the Company’s working capital as of June 30, 2018 would be reduced from approximately $7.0 million to a net working capital deficiency of approximately $7.2 million. The management of the Company has considered whether there is a going concern issue due to the Company’s recurring losses from operations, the estimated claims charges and the possible additional exposure for pending actions against Company which is presently unknown. Based upon the personal indemnifications of Mr. Han and Mr. He and their agreement to provide the necessary funds to the Company to continue its operations should the need arise, the management of the Company believes that it has alleviated the going concern issue.
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These financial statements include the accounts of all the directly and indirectly owned subsidiaries and VIEs listed below. All intercompany transactions and balances have been eliminated in consolidation.
Principles of consolidation	Principles of consolidation The consolidated financial statements reflect the activities of the following subsidiaries and VIEs. All material intercompany transactions have been eliminated. Ownership BVI-ACM British Virgin Island 100 % China-ACMH Beijing, China 100 % Xin Ao Beijing, China VIE Heng Yuan Zheng Ke 3 Beijing, China VIE Hong Sheng An 2 Beijing, China VIE Heng Tai 4 Beijing, China VIE Da Tong 1 Datong, China VIE Heng Xin 2 Luanxian, China VIE 1 2 3 4 VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIEs with which the Company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIEs. The primary beneficiary is required to consolidate the VIEs for financial reporting purposes. Management makes ongoing assessments of whether China ACMH is the primary beneficiary of Xin Ao. Based upon a series of contractual arrangements, the Company determined that Xin Ao is a VIE subject to consolidation and that China ACMH is the primary beneficiary. Accordingly, the accounts of Xin Ao are consolidated with those of China ACMH. The carrying amount of the VIE’s assets and liabilities are as follows: June 30, June 30, 2018 2017 Current assets $ 50,219,221 $ 76,607,089 Property, plants and equipment 2,748,409 3,644,203 Total assets 52,967,630 80,251,292 Liabilities (43,372,069 ) (67,885,085 ) Intercompany payables* (7,705,339 ) (7,088,094 ) Total liabilities (51,077,408 ) (74,973,179 ) Net assets $ 1,890,222 $ 5,278,113 * Payables to China-ACMH and BVI-ACM have been eliminated in consolidation.
Use of estimates and assumptions	Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The significant estimates and assumptions made in the preparation of the Company’s consolidated financial statements include the allowance for doubtful accounts, deferred income taxes, prepayments and advances, stock-based compensation, contingent liabilities and fair value and useful lives of property, plant and equipment. Actual results could be materially different from those estimates.
Foreign currency translation	Foreign currency translation The reporting currency of the Company is the U.S. dollar. The functional currency of China ACM and BVI-ACM is the U.S. dollar. China-ACMH and Xin Ao use their local currency, the Chinese Renminbi (“RMB”) as their functional currency. In accordance with U.S. GAAP guidance on Foreign Currency Translation, the Company’s results of operations and cash flows are translated at the average exchange rates during the period, assets and liabilities are translated at the exchange rates at the balance sheet dates, and equity is translated at historical exchange rates. As a result, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Asset and liability accounts at June 30, 2018 and 2017 were translated at RMB 6.62 and RMB 6.78 to USD$1.00, respectively. The average translation rates applied to the consolidated statements of operations and comprehensive loss and cash flows for the years ended June 30, 2018 and 2017 were RMB 6.51 and RMB 6.81 to USD$1.00, respectively. Translation gains (losses) that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations. There were no foreign currency transaction gains or losses for the years ended June 30, 2018 and 2017. The effects of foreign currency translation adjustments are included in shareholders’ equity as a component of accumulated other comprehensive income (loss).
Revenue recognition	Revenue recognition Revenue is realized or realizable and earned when the following four criteria are met: ● Persuasive evidence of an arrangement exists (the Company considers its sales contracts to be pervasive evidence of an arrangement); ● Delivery has occurred; ● The seller’s price to the buyer is fixed or determinable; and ● Collectability of payment is reasonably assured. The Company sells its concrete products primarily to major local construction companies. Sales agreements are signed with each customer. The agreements list all terms and conditions with the exception of delivery date and quantity, which are evidenced separately in purchase orders. The purchase price of products is fixed in the agreement and customers are not permitted to renegotiate after the contracts have been signed. The agreements include a cancellation clause if the Company or customers breach the contract terms specified in the agreement. On July 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. The core principle underlying revenue recognition is that the Company will recognize revenue to represent the transfer of goods and services to customers in an amount that reflects the consideration to which the Company expects to be entitled in such exchange. This will require the Company to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time, based on when control of goods and services transfers to a customer. The Company’s revenue streams are primarily recognized at a point in time. The ASU requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance should not result in significant changes in the way the Company records its revenue. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition.
Financial instruments	Financial instruments US GAAP, regarding fair value of financial instruments and related fair value measurements define fair value, establish a three-level valuation hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; Level 3 inputs to the valuation methodology are unobservable. Financial instruments included in current assets and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.
Cash and cash equivalents	Cash and cash equivalents The Company considers all highly liquid investments with the original maturity of three months or less at the date of purchase to be cash equivalents. The Company currently maintains substantially all of its day-to-day operating cash balances with major financial institutions within the PRC and the United States. As of June 30, 2018 and 2017, the Company had deposits in excess of federally insured limits totaling approximately $0.3 million and $0.2 million, respectively, outside the United States.
Restricted cash	Restricted cash Restricted cash consisted of collateral representing cash deposits for bank guarantees and notes payable.
Accounts receivable	Accounts receivable The Company extends unsecured credit to its customers in the normal course of business. Accounts are considered past due after 30 days. In establishing the required allowance for doubtful accounts, management considers historical experience, the economic environment, trends in the construction industry and the expected collectability of the overdue receivables. Management reviews its accounts receivable each reporting period to determine if the allowance for doubtful accounts is adequate. An estimate for doubtful accounts is recorded when collection of the full amount is no longer probable. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovering is considered remote. The Company provides an allowance for doubtful accounts provision of 15% for accounts receivable balances that are past due more than 180 days but less than one year, an allowance for doubtful accounts provision of 40% of for accounts receivable past due from one to two years, an allowance for doubtful accounts provision of 75% for accounts receivable past due beyond two years, an allowance for doubtful accounts provision of 100% for accounts receivable past due beyond three years, plus additional amounts as necessary when the Company’s collection department determines the collection of the full amount is remote and the Company’s management approves 100% of the allowance for doubtful accounts. The Company’s management has continued to evaluate the reasonableness of its valuation allowance policy and will update it if necessary.
Inventories	Inventories Inventories consist of raw materials and are stated at the lower of cost or market, as determined using the weighted average cost method. Management compares the cost of inventories with the market value and an allowance is made for writing down the inventory to its market value, if lower than cost. As of June 30, 2018 and 2017, the Company determined that no allowance was necessary.
Other receivables	Other receivables Other receivables primarily include prepayments to be refunded by our suppliers if the supplies do not meet the Company’s specification needs, advances to employees, amounts due from unrelated entities refundable, VAT tax and other deposits. Management regularly reviews the aging of receivables and changes in payment trends and records an allowance when management believes collection of amounts due are at risk. Accounts considered uncollectible are written off against the allowance after exhaustive efforts at collection are made. The Company provides an allowance for doubtful accounts of 5% for other receivables balances that are aged within one year, an allowance for doubtful accounts of 50% for other receivables aged from one to two years, and an allowance for doubtful accounts of 100% for other receivables aged beyond two years.
Prepayments and advances	Prepayments and advances Prepayments are funds deposited or advanced to outside vendors for future inventory purchases. As is standard practice in the PRC, many of the Company’s vendors require a certain amount to be deposited with them as a guarantee that the Company will complete its purchases on a timely basis. This amount is refundable and bears no interest. The Company has legally binding contracts with its vendors, which require any outstanding prepayments to be returned to the Company when such contracts end. The Company provides a provision of 5% of the allowance for doubtful accounts for prepayments and advances that are aged from six months to one year and 10% of the allowance for doubtful accounts for prepayments and advances aged beyond one year. The Company provided an allowance of approximately $0.3 million and $0 for the year ended June 30, 2018 and 2017, respectively. The Company wrote off approximately $0 and $0.2 million on unrealizable prepayments for the year ended June 30, 2018 and 2017, respectively.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost. Expenditures for maintenance and repairs are charged to operations as incurred while additions, renewals and improvements are capitalized. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method with a 5% residual value. Leasehold improvements are amortized over the lesser of estimated useful lives or remaining lease terms, as appropriate. The estimated useful lives of assets are as follows: Useful life Transportation equipment 7-10 years Plants and machinery 10 years Office equipment 5 years Buildings and improvements 3-20 years
Accounting for long-lived assets	Accounting for long-lived assets The Company classifies its long-lived assets into: (i) transportation equipment; (ii) plants and machinery; (iii) office equipment; and (iv) buildings and improvements. Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technological or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. If the value of an asset is determined to be impaired, the impairment to be recognized is measured in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are reported at the lower of the carrying amount or the fair value, less disposition costs. There were no impairment charges for the years ended June 30, 2018 and 2017. Competitive pricing pressures and changes in interest rates could materially and adversely affect the Company’s estimates of future net cash flows to be generated by the long-lived assets, and thus could result in future impairment losses.
Stock-based compensation	Stock-based compensation The Company records stock-based compensation expense at fair value on the grant date and recognizes the expense over the employee’s requisite service period. The Company’s expected volatility assumption is based on the historical volatility of Company’s stock. The expected life assumption is primarily based on historical exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The expected dividend yield is based on the Company’s current and expected dividend policy.
Income taxes	Income taxes The Company accounts for income taxes in accordance with ASC 740, “Income Taxes,” which requires the Company to use the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between financial statement carrying amounts and the tax bases of existing assets and liabilities and operating loss and tax credit carry forwards. Under this accounting standard, the effect on deferred income taxes of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recognized if it is more likely than not that some portion, or all of, a deferred tax asset will not be realized. ASC 740-10, “Accounting for Uncertainty in Income Taxes,” defines uncertainty in income taxes and the evaluation of a tax position as a two-step process. The first step is to determine whether it is more likely than not that a tax position will be sustained upon examination, including the resolution of any related appeals or litigation based on the technical merits of that position. The second step is to measure a tax position that meets the more-likely-than-not threshold to determine the amount of benefit to be recognized in the financial statements. A tax position is measured at the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent period in which the threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not criteria should be de-recognized in the first subsequent financial reporting period in which the threshold is no longer met. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. United States federal, state and local income tax returns prior to 2015 are not subject to examination by any applicable tax authorities. PRC tax returns filed in 2018 and prior years are subject to examination by any applicable tax authorities.
Value Added Tax	Value Added Tax Enterprises or individuals who sell commodities, engage in repair and maintenance, or import and export goods in the PRC are subject to a value added tax. The standard VAT rate for the Company’s industry is 3% of gross sales, and revenues are presented net of VAT.
Research and development	Research and development Research and development costs are expensed as incurred. The cost of materials and equipment that are acquired or constructed for research and development activities, and have alternative future uses, either in research and development, marketing, or sales, are classified as property and equipment, and depreciated over their estimated useful lives.
Earnings (loss) per share	Earnings (loss) per share The Company reports earnings (loss) per share in accordance with U.S. GAAP, which requires presentation of basic and diluted earnings (loss) per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts, such as warrants, options, restricted stock based grants and convertible preferred stock, to issue common stock were exercised and converted into common stock. Common stock equivalents having an anti-dilutive effect on earnings per share are excluded from the calculation of diluted earnings per share. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. When the Company has a loss, no potential dilutive items are included since they would be antidilutive. Stock dividends or stock splits are accounted for retroactively if the stock dividends or stock splits occur during the period, or retroactively if the stock dividends or stock splits occur after the end of the period but before the release of the financial statements, by considering it outstanding as of the beginning of each period presented.
Comprehensive income (loss)	Comprehensive income (loss) Comprehensive income (loss) consists of net income (loss) and foreign currency translation adjustments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. In August 2015, the FASB issued ASU No. 2015-14, “Deferral of the Effective Date” (“ASU 2015-14”), which defers the effective date for ASU 2014-09 by one year. For public entities, the guidance in ASU 2014-09 will be effective for annual reporting periods beginning after December 15, 2018 (including interim reporting periods within those periods), which means it will be effective for the Company’s fiscal year beginning July 1, 2018. In March 2016, the FASB issued ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue versus Net)” (“ASU 2016-08”), which clarifies the implementation guidance on principal versus agent considerations in the new revenue recognition standard. In April 2016, the FASB issued ASU No. 2016-10, “Identifying Performance Obligations and Licensing” (“ASU 2016-10”), which reduces the complexity when applying the guidance for identifying performance obligations and improves the operability and understandability of the license implementation guidance. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). This update will require the recognition of a right-of-use asset and a corresponding lease liability, initially measured at the present value of the lease payments, for all leases with terms longer than 12 months. For operating leases, the asset and liability will be expensed over the lease term on a straight-line basis, with all cash flows included in the operating section of the statement of cash flows. For finance leases, interest on the lease liability will be recognized separately from the amortization of the right-of-use asset in the statement of comprehensive income and the repayment of the principal portion of the lease liability will be classified as a financing activity while the interest component will be included in the operating section of the statement of cash flows. ASU 2016-02 is effective for annual and interim reporting periods beginning after December 15, 2018. Early adoption is permitted. Upon adoption, leases will be recognized and measured at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently evaluating the impact of the adoption of ASU 2016-02 on its unaudited condensed consolidated financial statements and related disclosures. In May 2016, the FASB issued ASU No. 2016-12 “Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”), which amends the guidance on transition, collectability, noncash consideration and the presentation of sales and other similar taxes. In December 2016, the FASB further issued ASU 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” (“ASU 2016-20”), which makes minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The amendments are intended to address implementation and provide additional practical expedients to reduce the cost and complexity of applying the new revenue standard. These amendments have the same effective date as the new revenue standard. On July 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (ASC 606) using the modified retrospective method for contracts that were not completed as of July 1, 2018. Upon adoption, the Company evaluated its revenue recognition policy for all revenue streams within the scope of the ASU under previous standards and using the five-step model under the new guidance and confirmed that there were no material differences in the pattern of revenue recognition. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the definition of a business. The amendments in this ASU is to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Management plans to adopt this ASU early after the quarter ending September 2018. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In March 2017, the FASB issued Accounting Standards Update (ASU) No., 2017-09, Compensation-Stock Options (Topic 718): Improvements to Employee Share-Based Payment Accounting. The areas for simplification in this amendment include the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. For public business entities, the amendments in this update are effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. For all other entities, the amendments are effective for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Early adoption is permitted for any entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. Management adopted this ASU during the quarter ending September 2017. The adoption of this ASU has not had a material effect on the Company’s consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, Scope of Modification Accounting, which amends the scope of modification accounting for share-based payment arrangements and provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. For all entities, this ASU is effective for annual reporting periods, including interim periods within those annual reporting periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period. Management plans to adopt this ASU during the quarter ending September 2018. The adoption of this ASU will not have a material effect on the Company’s consolidated financial statements. In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815). The amendments in Part I of the Update change the reclassification analysis of certain equity-lined financial instruments (or embedded features) with down round features. The amendments in Part II of this Update re-characterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. For public business entities, the amendments in Part I of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other entities, the amendments in Part I of this Update are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted for all entities, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments in Part II of this Update do not require any transition guidance because those amendments do not have an accounting effect. Management plans to adopt this ASU during the quarter ending September 2019. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to address diversity in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments provide guidance on the following eight specific cash flow issues: (1) Debt Prepayment or Debt Extinguishment Costs; (2) Settlement of Zero-Coupon Debt Instruments or Other Debt Instruments with Coupon Interest Rates That Are Insignificant in Relation to the Effective Interest Rate of the Borrowing; (3) Contingent Consideration Payments Made after a Business Combination; (4) Proceeds from the Settlement of Insurance Claims; (5) Proceeds from the Settlement of Corporate-Owned Life Insurance Policies, including Bank-Owned; (6) Life Insurance Policies; (7) Distributions Received from Equity Method Investees; (8) Beneficial Interests in Securitization Transactions; and Separately Identifiable Cash Flows and Application of the Predominance Principle. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The amendments should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. Management plans to adopt this ASU during the quarter ending September 2018. Management does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In October 2017, the FASB issued ASU No. 2017-17, Consolidation (Topic 810): Interests held through related parties that are under common control. The amendments in this ASU require that the reporting entity, in determining whether it satisfies the second characteristic of a primary beneficiary, to include all of its direct variable interests in a VIE and, on a proportionate basis, its indirect variable interests in a VIE held through related parties, including related parties that are under common control with the reporting entity. The amendments are effective for public business entities for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2017. Early adoption is permitted, including adoption in an interim period. Management plans to adopt this ASU during the quarter ending September 2018. Management does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In November 2017, the FASB issued ASU No. 2017-18, “Statement of Cash Flows: Restricted Cash”. The amendments address diversity in practice that exists in the classification and presentation of changes in restricted cash on the statement of cash flows. The amendment is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Management plans to adopt this ASU during the quarter ending September 2018. Management believes that the adoption of this ASU on the Company’s statement of cash flows will increase cash and cash equivalents by the amount of the restricted cash on the Company’s consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this Update affect any entity that is required to apply the provisions of Topic 220, Income Statement – Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in this Update are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this Update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In March 2018, the FASB issued ASU 2018-05 - Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (“ASU 2018-05”), which amends the FASB Accounting Standards Codification and XBRL Taxonomy based on the Tax Cuts and Jobs Act (the “Act”) that was signed into law on December 22, 2017 and Staff Accounting Bulletin No. 118 (“SAB 118”) that was released by the Securities and Exchange Commission. The Act changes numerous provisions that impact U.S. corporate tax rates, business-related exclusions, and deductions and credits and may additionally have international tax consequences for many companies that operate internationally. The Company does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. In June 2018, the FASB issued ASU 2018-07 – Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which to include share-based payment transactions for acquiring goods and services from non-employees, which nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date fair value of the equity instruments that an entity is obligated to issue when the good has been delivered or the service has been rendered and any other conditions necessary to earn the right to benefit from the instruments have been satisfied. The definition of the term grant date is amended to generally state the date at which a grantor and a grantee reach a mutual understanding of the key terms and conditions of a share based payment award. The amendments are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. For all other entities, the amendments in this ASU are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, including adoption in an interim period. Management plans to adopt this ASU during the quarter ending September 2019. Management does not believe the adoption of this ASU would have a material effect on the Company’s consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of consolidated financial statements	Ownership BVI-ACM British Virgin Island 100 % China-ACMH Beijing, China 100 % Xin Ao Beijing, China VIE Heng Yuan Zheng Ke 3 Beijing, China VIE Hong Sheng An 2 Beijing, China VIE Heng Tai 4 Beijing, China VIE Da Tong 1 Datong, China VIE Heng Xin 2 Luanxian, China VIE 1 2 3 4
Schedule of carrying amount of the VIE's assets and liabilities	June 30, June 30, 2018 2017 Current assets $ 50,219,221 $ 76,607,089 Property, plants and equipment 2,748,409 3,644,203 Total assets 52,967,630 80,251,292 Liabilities (43,372,069 ) (67,885,085 ) Intercompany payables* (7,705,339 ) (7,088,094 ) Total liabilities (51,077,408 ) (74,973,179 ) Net assets $ 1,890,222 $ 5,278,113 * Payables to China-ACMH and BVI-ACM have been eliminated in consolidation.
Schedule of estimated useful lives of assets	Useful life Transportation equipment 7-10 years Plants and machinery 10 years Office equipment 5 years Buildings and improvements 3-20 years

Accounts and Notes Receivable_2

Accounts and Notes Receivable, Net (Tables)	12 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Schedule of accounts and notes receivable, net	June 30, June 30, Accounts receivable $ 62,610,943 $ 63,370,426 Notes receivable 3,292 - Less: Allowance for doubtful accounts (19,291,772 ) (15,827,349 ) Total accounts and notes receivable, net $ 43,322,463 $ 47,543,077
Schedule of allowance for doubtful accounts	Year ended Year ended Beginning balance $ 15,827,349 $ 11,524,131 Provision for doubtful accounts 3,145,087 3,987,890 Add: recovery - 524,789 Exchange rate effect 319,336 (209,461 ) Ending balance $ 19,291,772 $ 15,827,349

Other Receivables, Net (Tables)

Other Receivables, Net (Tables)	12 Months Ended
	Jun. 30, 2018
Other Receivables Net [Abstract]
Schedule of other receivables	June 30, June 30, Other receivables $ 279,339 $ 1,653,351 Other receivable from sale of Asset Group - 18,867 Less: Allowance for doubtful accounts (208,097 ) (1,432,095 ) Total other receivables, net $ 71,242 $ 240,123
Schedule of other receivables, net	Year ended Year ended Beginning balance $ 1,432,095 $ 2,334,672 Recovery of doubtful accounts (1,280,566 ) (852,275 ) Exchange rate effect 56,568 (50,302 ) Ending balance $ 208,097 $ 1,432,095

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2018
Property, Plant and Equipment [Abstract]
Schedule of property, plants and equipment	June 30, June 30, Machinery and equipment $ 917,017 $ 896,326 Transportation equipment 4,399,356 4,249,609 Office equipment 1,221,704 1,168,846 Buildings and improvements 458,718 308,636 Total 6,996,795 6,623,417 Less: Accumulated depreciation and amortization (4,248,386 ) (2,979,214 ) Plants and equipment, net $ 2,748,409 $ 3,644,203

Credit Facilities (Tables)

Credit Facilities (Tables)	12 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of outstanding balances on short-term bank loans	June 30, June 30, Loans from China Construction Bank, with an interest rate of 4.35% per annum, due March 2018, guaranteed by Beijing Jinshengding Mineral Products Co., LTD, Mr. Xianfu Han, Ms. Chunying Wang, Mr. Weili He and Ms. Junkun Chen. $ - $ 17,700,720 Loans from China Construction Bank, each with an interest rate of 5.66% to 6.09% per annum, due between July 2018 and December 2018, guaranteed by Beijing Jinshengding Mineral Products Co., LTD, Mr. Xianfu Han, Ms. Chunying Wang, Mr. Weili He, and Ms. Junkun Chen. 26,062,665 - $ 26,062,665 $ 17,700,720

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule of other payables	June 30, June 30, Xianfu Han $ 91,336 $ 1,402,423 Weili He 104,428 1,523,120 $ 195,763 $ 2,925,543

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of loss before provision for income taxes	Years ended June 30, 2018 2017 USA and BVI $ (2,744,479 ) $ (1,352,589 ) PRC (4,655,486 ) (9,685,531 ) $ (7,399,965 ) $ (11,038,120 )
Schedule of deferred tax assets	June 30, June 30, Deferred tax assets Allowance for doubtful accounts $ 2,972,087 $ 2,588,917 Accrued claims charges 611,363 190,094 Impairment loss of long-lived assets 393,673 393,673 Net operating loss carryforward in China 145,641 411,436 Net operating loss carryforward in the U.S. 62,852 238,649 Valuation allowance (4,185,616 ) (3,822,769 ) Total deferred tax assets $ - $ -
Schedule of effective income tax rate reconciliation	June 30, June 30, 2018 2017 U.S. statutory rates 21 % 34 % Foreign income not recognized in the U.S. (21 %) (34 %) PRC statutory rates 25 % 25 % Preferential tax treatment (10 %) (10 %) Change in valuation allowance 5 % (27 %) Non-deductible PRC expenses (20 %) 12 % Effective income tax rates (0 %) (0 %)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of restricted stock grants	Restricted stock grants Shares Weighted Average Aggregate Unvested as of June 30, 2016 - $ - $ - Granted 206,859 $ 2.89 $ 597,823 Vested (100,000 ) $ 2.89 $ (289,000 ) Unvested as of June 30, 2017 106,859 $ 2.89 $ 308,823 Forfeited (56,859 ) $ 2.89 $ (164,323 ) Granted 56,859 $ 4.30 $ 244,494 Vested (106,859 ) $ 3.64 $ (388,994 ) Unvested as of June 30, 2018 - $ -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2018
Schedule of future annual lease payments under non-cancelable operating leases	Twelve months ending June 30, Amount 2019 $ 489,000 2020 449,000 2021 449,000 2022 449,000 2023 131,000 Total $ 1,967,000
Schedule of litigation disputes and accrued costs	Dispute matter Claim Interest and penalties Total claim amount as of June 30, 2018 1) Guarantees $ 2,234,358 $ - $ 2,234,358 2) Sales 20,922 9,324 30,246 3) Purchase 1,139,424 125,761 1,265,185 4) Leases 2,066,269 95,987 2,162,256 5) Labor 27,003 - 27,003 6) Others 12,738 - 12,738 Total $ 5,500,714 $ 231,072 5,731,786 Payments (1,300,999 ) Accrued contingent liabilities $ 4,430,787
Schedule of litigation disputes contingencies associated	Dispute matter Claim Interest and penalties Total claim amount as of June 30, 2018 1) Guarantees $ 58,126,066 $ 10,442,814 $ 68,568,880 2) Purchase 1,643,380 41,476 1,684,856 3) Leases 928,387 - 928,387 4) Labor 236,542 - 236,542 Total $ 60,934,375 $ 10,484,290 71,418,665 Settled claims (57,257,305 ) Remaining claims amount $ 14,161,360
Related-party [Member]
Schedule of third-party borrowed from bank	Name of party being guaranteed Guaranteed amount Guarantee Beijing Lianlv (borrower) $ 10,419,000 April 11, 2019
Third-party [Member]
Schedule of third-party borrowed from bank	Name of party being guaranteed Guaranteed amount Guarantee Tangshan Long Tang Trading Co., Ltd $ 2,225,136 December 29, 2017

Schedule 1 - Parent Company (Ta

Schedule 1 - Parent Company (Tables)	12 Months Ended
	Jun. 30, 2018
Condensed Financial Information Disclosure [Abstract]
Schedule of condensed financial statements	2018 2017 ASSETS CURRENT ASSETS: Cash $ 378,730 $ 456 Other receivables 2,300 - Prepaid expenses 40,458 - Total current assets 421,488 456 OTHER ASSETS: Intercompany receivable 18,574,784 17,192,991 Total other assets 18,574,784 17,192,991 Total assets 18,996,272 17,193,447 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES: Other payables 2,000 - Other payables - shareholders - 1,800,000 Total current liabilities 2,000 1,800,000 OTHER LIABILITIES: Loss in excess of investment in subsidiaries 9,292,064 5,514,463 Total other liabilities 9,292,064 5,514,463 Total liabilities 9,294,064 7,314,463 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS’ EQUITY: Preferred stock, $0.001 par value, 1,000,000 shares authorized, no share issued or outstanding - - Common stock, $0.001 par value, 74,000,000 shares authorized, 5,488,649 and 2,387,658 shares issued and outstanding as of June 30, 2018 and 2017, respectively 5,489 2,388 Additional paid-in-capital 48,360,368 38,662,377 Deferred stock compensation (2,825,000 ) - Deficit (49,642,916 ) (42,242,951 ) Statutory reserves 6,248,092 6,248,092 Accumulated other comprehensive income 7,556,175 7,209,078 Total shareholders’ equity 9,702,208 9,878,984 Total liabilities and shareholders’ equity $ 18,996,272 $ 17,193,447 2018 2017 SELLING, GENERAL AND ADMINISTRATIVE EXPENSES $ (2,247,106 ) $ (889,000 ) LOSS FROM OPERATIONS (2,247,106 ) (889,000 ) OTHER INCOME (EXPENSE), NET Interest income 13 - Finance expense (26 ) - Equity loss of subsidiaries (5,152,846 ) (10,149,120 ) TOTAL OTHER EXPENSE, NET (5,152,859 ) (10,149,120 ) NET LOSS (7,399,965 ) (11,038,120 ) OTHER COMPREHENSIVE INCOME (LOSS) - foreign currency translation income (loss) 347,097 (499,361 ) COMPREHENSIVE LOSS $ (7,052,868 ) $ (11,537,481 ) 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (7,399,965 ) $ (11,038,120 ) Adjustments to reconcile net loss to cash used in operating activities: Stock-based compensation expense 1,388,501 289,000 Loss from subsidiaries 5,152,846 10,149,120 Changes in operating assets and liabilities Other receivables (2,300 ) - Prepaid expenses (40,458 ) - Intercompany receivable (42,350 ) Other payables 2,000 - Other payables - shareholders 720,000 600,000 Net cash used in operating activities (221,726 ) - CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock 600,000 - Net cash provided by financing activities 600,000 - EFFECTS OF EXCHANGE RATE CHANGE IN CASH - - NET CHANGE IN CASH 378,274 - CASH, beginning of year 456 456 CASH, end of year $ 378,730 $ 456 NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES: Common stocks issued to repay shareholders $ 3,859,443 $ -

Organization and Description _2

Organization and Description of Business (Details)	12 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Subsidiaries and variable interest entities, percentage	100.00%

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Jun. 30, 2018
Ownership percentage	100.00%
BVI-ACM [Member]
Place incorporated	British Virgin Island
Ownership percentage	100.00%
China-ACMH [Member]
Place incorporated	Beijing, China
Ownership percentage	100.00%
Xin Ao [Member]
Place incorporated	Beijing, China
Description of ownership percentage	VIE
Heng Yuan Zheng Ke [Member]
Place incorporated	Beijing, China	[1]
Description of ownership percentage	VIE	[1]
Hong Sheng An [Member]
Place incorporated	Beijing, China	[2]
Description of ownership percentage	VIE	[2]
Heng Tai [Member]
Place incorporated	Beijing, China	[3]
Description of ownership percentage	VIE	[3]
Da Tong [Member]
Place incorporated	Datong, China	[4]
Description of ownership percentage	VIE	[4]
Heng Xin [Member]
Place incorporated	Luanxian, China	[2]
Description of ownership percentage	VIE	[2]
[1]	Dissolved in January 2017
[2]	Dissolved in December 2016
[3]	Dissolved in February 2017
[4]	Dissolved in August 2016

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($)		Jun. 30, 2018	Jun. 30, 2017
Accounting Policies [Abstract]
Current assets		$ 50,219,221	$ 76,607,089
Property, plants and equipment		2,748,409	3,644,203
Total assets		52,967,630	80,251,292
Liabilities		(43,372,069)	(67,885,085)
Intercompany payables	[1]	(7,705,339)	(7,088,094)
Total liabilities		(51,077,408)	(74,973,179)
Net assets		$ 1,890,222	$ 5,278,113
[1]	Payables to China-ACMH and BVI-ACM have been eliminated in consolidation.

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2)	12 Months Ended
	Jun. 30, 2018
Plants and machinery [Member]
Useful life	10 years
Office equipment [Member]
Useful life	5 years
Minimum [Member] | Transportation equipment [Member]
Useful life	7 years
Minimum [Member] | Buildings and improvements [Member]
Useful life	3 years
Maximum [Member] | Transportation equipment [Member]
Useful life	10 years
Maximum [Member] | Buildings and improvements [Member]
Useful life	20 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Summary of Significant Accounting Policies (Textual)
Working capital	$ 7,000,000	$ 6,200,000
Reduced working capital	7,000,000
Net working capital deficiency	7,200,000
Potential judgments amount	$ 14,200,000
Foreign currency translations, description	Asset and liability accounts at June 30, 2018 and 2017 were translated at RMB 6.62 and RMB 6.78 to USD$1.00, respectively. The average translation rates applied to the consolidated statements of operations and comprehensive loss and cash flows for the years ended June 30, 2018 and 2017 were RMB 6.51 and RMB 6.81 to USD$1.00, respectively.
Liability in excess of current provision	$ 4,400,000
Cash on-hand	1,100,000
Federally insured limits totaling	300,000	200,000
Allowance for doubtful accounts for prepayments and advances	300,000	0
Unrealizable prepayments	$ 0	$ 200,000
Percentage of depreciation residual value	5.00%
Percentage of tax realized upon ultimate settlement	50.00%
VAT rate of gross sales	3.00%
Other Receivables [Member]
Summary of Significant Accounting Policies (Textual)
Description of allowance for doubtful accounts	The Company provides an allowance for doubtful accounts of 5% for other receivables balances that are aged within one year, an allowance for doubtful accounts of 50% for other receivables aged from one to two years, and an allowance for doubtful accounts of 100% for other receivables aged beyond two years.
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual)
Description of allowance for doubtful accounts	The Company provides an allowance for doubtful accounts provision of 15% for accounts receivable balances that are past due more than 180 days but less than one year, an allowance for doubtful accounts provision of 40% of for accounts receivable past due from one to two years, an allowance for doubtful accounts provision of 75% for accounts receivable past due beyond two years, an allowance for doubtful accounts provision of 100% for accounts receivable past due beyond three years, plus additional amounts as necessary when the Company’s collection department determines the collection of the full amount is remote and the Company’s management approves 100% of the allowance for doubtful accounts.
Prepayments and advances [Member]
Summary of Significant Accounting Policies (Textual)
Description of allowance for doubtful accounts	The Company provides a provision of 5% of the allowance for doubtful accounts for prepayments and advances that are aged from six months to one year and 10% of the allowance for doubtful accounts for prepayments and advances aged beyond one year.

Accounts and Notes Receivable_3

Accounts and Notes Receivable, Net (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Receivables [Abstract]
Accounts receivable	$ 62,610,943	$ 63,370,426
Notes receivable	3,292
Less: Allowance for doubtful accounts	(19,291,772)	(15,827,349)
Total accounts receivable, net	$ 43,322,463	$ 47,543,077

Accounts and Notes Receivable_4

Accounts and Notes Receivable, Net (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Receivables [Abstract]
Beginning balance	$ 15,827,349	$ 11,524,131
Provision for doubtful accounts	2,184,221	3,352,063
Add: recovery		524,789
Exchange rate effect	319,336	(209,461)
Ending balance	$ 19,291,772	$ 15,827,349

Accounts and Notes Receivable_5

Accounts and Notes Receivable, Net (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Accounts and Notes Receivable, Net (Textual)
Accounts receivable offset	$ 6,900,000
Accounts payable offset		$ 1,500,000

Other Receivables, Net (Details

Other Receivables, Net (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Other Receivables Net [Abstract]
Other receivables	$ 279,339	$ 1,653,351
Other receivable from sale of Asset Group		18,867
Less: Allowance for doubtful accounts	(208,097)	(1,432,095)	$ (2,334,672)
Total other receivables, net	$ 71,242	$ 240,123

Other Receivables, Net (Detai_2

Other Receivables, Net (Details 1) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Other Receivables Net [Abstract]
Beginning balance	$ 1,432,095	$ 2,334,672
Recovery of doubtful accounts	(1,280,566)	(852,275)
Exchange rate effect	56,568	(50,302)
Ending balance	$ 208,097	$ 1,432,095

Property, Plant and Equipment_3

Property, Plant and Equipment, Net (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Total	$ 6,996,795	$ 6,623,417
Less: Accumulated depreciation and amortization	(4,248,386)	(2,979,214)
Plants and equipment, net	2,748,409	3,644,203
Machinery and equipment [Member]
Total	917,017	896,326
Transportation equipment [Member]
Total	4,399,356	4,249,609
Office equipment [Member]
Total	1,221,704	1,168,846
Buildings and improvements [Member]
Total	$ 458,718	$ 308,636

Property, Plant and Equipment_4

Property, Plant and Equipment, Net (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,239,383	$ 1,178,427

Credit Facilities (Details)

Credit Facilities (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Short term loans banks, total	$ 26,062,665	$ 17,700,720
Loans from China Construction Bank, due March 2018 [Member]
Short term loans banks, total		17,700,720
Loan from Bank of Beijing, due March 2017 [Member]
Short term loans banks, total	$ 26,062,665

Credit Facilities (Details Text

Credit Facilities (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Credit Facilities (Textual)
Interest expense	$ (1,360,608)	$ (830,978)
CCB credit facility, description	The Company has an approximately $31.7 million (RMB210, 000,000) credit facility from China Construction Bank (the “CCB Credit Facility”), which was extended in August 2017 through August 2018. The Company’s availability under the CCB Credit Facility was $5.6 million as of June 30, 2018. The Company has completed the application for extension as of the report date and is waiting for the approval.
Notes payable are guaranteed	$ 0	14,000,000
Transactions fees	$ 0	600,000
Transaction fee, percentage	0.10%
Restricted cash	$ 0	$ 4,200,000
Loans from China Construction Bank, due March 2018 [Member]
Credit Facilities (Textual)
Interest rate, percentage	4.35%
Loans from China Construction Bank, due between July 2018 and December 2018 [Member] | Minimum [Member]
Credit Facilities (Textual)
Interest rate, percentage	5.66%
Loans from China Construction Bank, due between July 2018 and December 2018 [Member] | Maximum [Member]
Credit Facilities (Textual)
Interest rate, percentage	6.09%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Other payables - shareholders	$ 195,763	$ 2,925,543
Xianfu Han [Member]
Other payables - shareholders	91,336	1,402,423
Weili He [Member]
Other payables - shareholders	$ 104,428	$ 1,523,120

Related Party Transactions (D_2

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Related Party Transactions (Textual)
Lease agreement, description	The Company has a lease agreement for office space from Mr. Weili He, the Company’s Interim Chief Financial Officer, through October 31, 2023.
Lease annual payments	$ 25,000
Allowance for doubtful accounts prepayments and related party	300,000
Other payables-shareholders	195,763
Salary payable		$ 1,800,000
Loans payable		461,766
Other receivable to related party	$ 1,397,042
Beijing Lianly [Member]
Related Party Transactions (Textual)
Ownership percentage	99.00%
Description of allowance for doubtful accounts	The Company provided a provision of 5% of an the allowance for doubtful accounts for Beijing Lianlv’'s prepayment that are aged from six months to one year and 10% for the balance beyond one year.
Prepayments related party	$ 3,027,409	$ 6,996,400
Payment of legal claim	$ 663,777

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
USA and BVI	$ (2,744,479)	$ (1,352,589)
PRC	(4,655,486)	(9,685,531)
Loss before provision for income taxes	$ (7,399,965)	$ (11,038,120)

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Deferred tax assets
Allowance for doubtful accounts	$ 2,972,087	$ 2,588,917
Accrued claims charges	611,363	190,094
Impairment loss of long-lived assets	393,673	393,673
Net operating loss carryforward in China	145,641	411,436
Net operating loss carryforward in the U.S.	62,852	238,649
Valuation allowance	(4,185,616)	(3,822,769)
Total deferred tax assets

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
U.S. statutory rates	21.00%	34.00%
Foreign income not recognized in the U.S.	(21.00%)	(34.00%)
PRC statutory rates	25.00%	25.00%
Preferential tax treatment	(10.00%)	(10.00%)
Change in valuation allowance	5.00%	(27.00%)
Non-deductible PRC expenses	(20.00%)	12.00%
Effective income tax rates	0.00%	0.00%

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 22, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Taxes (Textual)
Net operating loss carry forward		$ 300,000
Net operating loss carry maturity date		Jun. 30, 2038
Deferred tax asset allowance, percentage		100.00%
Corporate income tax rate description		21% for subsequent fiscal years. Accordingly, we have adjusted our deferred tax assets on net operating loss carryforwards in the U.S at the lower enacted tax rate of 21%. However, this adjustment has no effect on the Company's income tax expense as the Company has provided a 100% valuation allowance on its deferred tax assets previously.
Income tax rate under current BVI law		25.00%	25.00%
Statutory corporate income tax rate		21.00%	34.00%
Deferred tax assets related to its operations in the PRC		$ 4,100,000	$ 3,800,000
Deferred tax assets valuation allowance		100,000	200,000
Other business tax payables		$ 178,190	$ 103,419
U.S. statutory federal rate		28.00%
Maximum [Member]
Income Taxes (Textual)
U.S. corporate tax rate	35.00%
Minimum [Member]
Income Taxes (Textual)
U.S. corporate tax rate	21.00%
BVI [Member]
Income Taxes (Textual)
Income tax rate under current BVI law		0.00%
PRC [Member]
Income Taxes (Textual)
Net operating loss carry maturity date		Jun. 30, 2022
Deferred tax asset allowance, percentage		100.00%
Statutory corporate income tax rate		25.00%
High-tech certificate renewed year		3 years
Income tax rate reduction, description		Xin Ao was entitled to a reduction in its income tax rate from 25% to 15% until July 21, 2018.
EIT law imposes withholding income tax		10.00%

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Restricted Stock [Member] - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Shares
Unvested, Beginning	106,859
Forfeited	(56,859)
Granted	56,859	206,859
Vested	(106,859)	(100,000)
Unvested, Ending		106,859
Weighted Average Grant Date Fair Value Per Share
Unvested, Beginning	$ 2.89
Forfeited	2.89
Granted	4.30	2.89
Vested	$ 3.64	2.89
Unvested, Ending		$ 2.89
Aggregate Intrinsic Value
Unvested, Beginning	$ 308,823
Forfeited	(164,323)
Granted	244,494	597,823
Vested	(388,994)	(289,000)
Unvested, Ending		$ 308,823

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual) - USD ($)	Jan. 15, 2018	Jun. 30, 2018	May 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Aug. 31, 2016	Jun. 30, 2018	Jun. 30, 2017
Shareholders' Equity (Textual)
Compensation expense related to restricted stock grants							$ 400,000	$ 300,000
First Tranche [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested	50,000
Second Tranche [Member]
Shareholders' Equity (Textual)
Restricted common stock, forfeited and cancelled	56,859
Two Employees [Member]
Shareholders' Equity (Textual)
Issuance date				Apr. 3, 2018
Closing price				$ 2.05
Shares of common stock				200,000
Shares of common stock, fair value				$ 410,000
Mr. Xianfu Han [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				985,889
Restricted common stock fair value				$ 2,021,073
Issuance date				May 4, 2018
Closing price				$ 2.05
Mr. Weili He [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				896,766
Restricted common stock fair value				$ 1,838,370
Issuance date				May 4, 2018
Closing price				$ 2.05
Five Employees [Member]
Shareholders' Equity (Textual)
Issuance date			May 21, 2018
Closing price			$ 2.70
Shares of common stock			218,336
Shares of common stock, fair value			$ 589,507
Unrelated Third Party Individual [Member]
Shareholders' Equity (Textual)
Shares of common stock			300,000
Common stock price, per share			$ 2
Two Service Providers [Member]
Shareholders' Equity (Textual)
Issuance date		Jul. 31, 2018
Closing price		$ 5.65					$ 5.65
Shares of common stock		500,000
Shares of common stock, fair value		$ 2,825,000
Amortized over service period		1 year
Restricted Stock [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested							106,859	100,000
Restricted Stock [Member] | Consultant [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						106,859
Restricted common stock fair value						$ 308,823
Restricted Stock [Member] | Two Employees [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						100,000
Restricted common stock fair value						$ 289,000
Restricted Stock [Member] | One Employee [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares					56,859
Restricted common stock fair value					$ 244,494

Reserves and Dividends (Details

Reserves and Dividends (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Reserves and dividends (Textual)
Percentage of net income transfer	10.00%
Statutory surplus reserve, percentage	50.00%
Remaining statutory surplus reserve, percentage	50.00%	50.00%
Registered capital requirement amount	$ 800,000	$ 800,000
Statutory reserves, description	The surplus reserve fund can however be used to fund previous years’ losses, if any, and may be utilized for business expansion or converted into share capital by issuing new shares to existing shareholders in proportion to their shareholding or by increasing the par value of the shares currently held by them, provided that the remaining reserve balance after such issue is not less than 25% of the registered capital.

Employee Post-Retirement Bene_2

Employee Post-Retirement Benefits (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Employee post-retirement benefits (Textual)
Defined contribution plan, description	The Company offers a defined contribution plan to eligible employees which consists of two parts: (i) the first part, paid by the Company, is 20% of the employee’s compensation from the prior year and (ii) the second part, paid by the employee, is 8% of the employee’s compensation.
Employment benefits contributions amount	$ 500,000	$ 700,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)	Jun. 30, 2018USD ($)
Twelve months ending June 30,
2,019	$ 489,000
2,020	449,000
2,021	449,000
2,022	449,000
2,023	131,000
Total	$ 1,967,000

Commitments and Contingencies_3

Commitments and Contingencies (Details 1) - Guaranteed [Member]	12 Months Ended
	Jun. 30, 2018USD ($)
Related-party [Member]
Name of party being guaranteed	Beijing Lianlv (borrower)
Guaranteed amount	$ 10,419,000
Guarantee expiration date	Apr. 11, 2019
Third-party [Member]
Name of party being guaranteed	Tangshan Long Tang Trading Co., Ltd
Guaranteed amount	$ 2,225,136
Guarantee expiration date	Dec. 29, 2017

Commitments and Contingencies_4

Commitments and Contingencies (Details 2)	12 Months Ended
	Jun. 30, 2018USD ($)
Payment	$ (1,300,999)
Total claim amount	4,430,787
Litigation disputes and accrued costs [Member]
Claim amount	5,500,714
Interest and penalties	231,072
Total claim amount	5,731,786
Guarantees [Member] | Litigation disputes and accrued costs [Member]
Claim amount	2,234,358
Interest and penalties
Total claim amount	2,234,358
sales [Member] | Litigation disputes and accrued costs [Member]
Claim amount	20,922
Interest and penalties	9,324
Total claim amount	30,246
Purchase [Member] | Litigation disputes and accrued costs [Member]
Claim amount	1,139,424
Interest and penalties	125,761
Total claim amount	1,265,185
Leases [Member] | Litigation disputes and accrued costs [Member]
Claim amount	2,066,269
Interest and penalties	95,987
Total claim amount	2,162,256
Labor [Member] | Litigation disputes and accrued costs [Member]
Claim amount	27,003
Interest and penalties
Total claim amount	27,003
Others [Member] | Litigation disputes and accrued costs [Member]
Claim amount	12,738
Interest and penalties
Total claim amount	$ 12,738

Commitments and Contingencies_5

Commitments and Contingencies (Details 3)	12 Months Ended
	Jun. 30, 2018USD ($)
Total amount	$ 4,430,787
Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member]
Claim amount	60,934,375
Interest and penalties	10,484,290
Total amount	71,418,665
Settled claims	(57,257,305)
Remaining claims amount	14,161,360
Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member] | Total Purchase [Member]
Claim amount	1,643,380
Interest and penalties	41,476
Total amount	1,684,856
Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member] | Leases [Member]
Claim amount	928,387
Interest and penalties
Total amount	928,387
Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member] | Labor [Member]
Claim amount	236,542
Interest and penalties
Total amount	236,542
Guarantees [Member] | Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member]
Claim amount	58,126,066
Interest and penalties	10,442,814
Total amount	$ 68,568,880

Commitments and Contingencies_6

Commitments and Contingencies (Details Textual) - USD ($)	Jan. 08, 2018	Oct. 09, 2017	Jul. 11, 2017	Dec. 31, 2017	Oct. 23, 2017	Mar. 31, 2017	Apr. 30, 2016	Jun. 30, 2018	Jun. 30, 2017	Apr. 30, 2018	Dec. 31, 2016
Commitments and contingencies (Textual)
Operating lease expenses								$ 400,000	$ 200,000
Guarantee amount										$ 10,400,000	$ 2,200,000
Total amount of compensation								$ 1,388,501	$ 289,000
Bank deposits aggregate amount			$ 3,900,000
Civil lawsuits, description								The Company's VIE, Xin Ao, was subject to several civil lawsuits for which the Company estimated that it is more than likely to pay judgments in the amount of approximately $4.4 million (including interest and penalty of $0.2 million).
Accrued contingent liabilities								$ 4,400,000
Net of payment								1,300,000
Additional interest charges								2,800,000
Annual base salary								360,000
Litigation disputes not related to the Company or Xian Ao and contingencies associated [Member]
Commitments and contingencies (Textual)
Litigation amount								$ 14,161,360
Loan Agreement [Member]
Commitments and contingencies (Textual)
Principal amount		$ 400,000
Concrete Service Plant [Member]
Commitments and contingencies (Textual)
Lease expiration date								Sep. 30, 2022
Annual payments of lease								$ 424,000
Office space from Mr. Weili He [Member]
Commitments and contingencies (Textual)
Lease expiration date								Oct. 31, 2023
Annual payments of lease								$ 25,000
Roadway Access of Concrete Service Plant [Member]
Commitments and contingencies (Textual)
Lease expiration date								Jun. 30, 2019
Annual payments of lease								$ 15,000
Office space in New York [Member]
Commitments and contingencies (Textual)
Lease expiration date								May 31, 2019
Annual payments of lease								$ 27,600
Lida [Member]
Commitments and contingencies (Textual)
Purchase price of aggregate amount							$ 800,000
Nanling Yirui [Member]
Commitments and contingencies (Textual)
Purchase price of aggregate amount								$ 500,000
Cinda Beijing Branch [Member]
Commitments and contingencies (Textual)
Ownership percentage								60.00%
Legal settlement agreement, description								The aggregate amount of the loan was RMB288,506,497 (approximately US$43.6 million)  with interest at 12.8% per annum (the "Loan"). Cinda Beijing Branch alleged that since the Borrower breached its obligation to make the repayment of the Loan on the maturity date, the Guarantors, along with Xin Ao and those entities owned or controlled by the Guarantors, should be brought into the lawsuit as co-defendants (the "Defendants"). On July 5, 2017, Beijing Intermediate Court ruled in favor of Cinda Beijing Branch and issued a judgment for execution to freeze the Defendants' assets, an aggregate amount of RMB 304,972,608 (approximately US$46.1 million) which shall be used for the repayment of the Loan, the liquidated damages, the interest on the Loan, and other costs and expenses undertaken by Cinda Beijing Branch. Following the mediation, China Cinda Asset Management Co., Ltd. ("Cinda"), two shareholders of Da Tong Lianlv Technologies Co., Ltd. ("Datong Lianlv"), Beijing Ao Huan Fund Management Co., Ltd. ("Ao Huan"), and Shou Tai Jin Xin (Chang Xing) Investment Management Co., Ltd ("Jin Xin") entered into a certain limited partnership agreement (the "Partnership Agreement") on December 22, 2017 to settle the lawsuit. Datong Lianlv is an affiliate of the Company and Xin Ao. Cinda is the parent company of Cinda Beijing Branch. As provided in the Partnership Agreement, the distributions of the limited partnership shall be allocated to Cinda first, who made a capital contribution in the form of its rights, title and interests in and to the repayment of the Loan in an aggregate amount of RMB 322,435,300 (approximately US$48.7 million) (the "Capital Contribution"). Pursuant to the Partnership Agreement, payment shall be made until Cinda has received an amount equal to the aggregate of its unreturned Capital Contributions and a cumulative distribution equal to 7.5% of all distributions made. Datong Lianlv made its capital contribution in cash in an aggregate amount of RMB 150,000,000 (approximately US$22.5 million) along with its shareholders consent to transfer 99% of Datong Lianlv's equity interests to the limited partnership. The legal counsel of Xin Ao indicated that Cinda and Cinda Beijing Branch orally confirmed that this claim was fully settled in the form of the Partnership Agreement.
Beijing Lianlv [Member]
Commitments and contingencies (Textual)
Principal amount		400,000
Interest amount		5,000
Beijing Chengda [Member]
Commitments and contingencies (Textual)
Unpaid balance amount						$ 900,000
Arbitration Demand of Bank [Member]
Commitments and contingencies (Textual)
Bank deposits aggregate amount	$ 51,000,000
Sihong [Member]
Commitments and contingencies (Textual)
Total amounts of judgment				$ 300,000
Legal matters [Member]
Commitments and contingencies (Textual)
Civil lawsuits, description								The Company's VIE, Xin Ao, was subject to several civil lawsuits with potential judgments in the amount of approximately $14.2 million and the likelihood of the outcome of these lawsuits cannot be determined as of the date of this report.
Jinshengding [Member]
Commitments and contingencies (Textual)
Lease agreement payments, description							The court ruled that effective December 28, 2016, the lease agreement was void and Xin Ao and/or Jinshengding shall make a repayment to China Black Metal which shall include rent due from December 4, 2015 to December 28, 2016 in an amount of RMB 1,572,669, plus interest, expenses for utilities in an amount of RMB 271,579 (approximately US$41,000), penalty under the agreement of RMB 250,000 (approximately US$38,000), legal fees of RMB 73,238 (approximately US$11,000) and rent due from December 28, 2016 to June 30, 2018 of RMB 2,264,329 (approximately US$0.3 million). The total amount of compensation is RMB 4,431,816 (approximately US$0.7 million). As of date of this report, Jinshengding has paid RMB 1,800,000 (approximately US$0.3 million) out of the total compensation.
Gouwang [Member]
Commitments and contingencies (Textual)
Award damages amount					$ 1,400,000
Other receivable related party					1,400,000
RMB [Member]
Commitments and contingencies (Textual)
Guarantee amount										$ 69,000,000	$ 14,736,000
Bank deposits aggregate amount			$ 26,000,000
RMB [Member] | Loan Agreement [Member]
Commitments and contingencies (Textual)
Principal amount		2,927,400
RMB [Member] | Lida [Member]
Commitments and contingencies (Textual)
Purchase price of aggregate amount							$ 5,595,093
RMB [Member] | Nanling Yirui [Member]
Commitments and contingencies (Textual)
Purchase price of aggregate amount								$ 3,452,799
RMB [Member] | Beijing Lianlv [Member]
Commitments and contingencies (Textual)
Principal amount		2,895,000
Interest amount		$ 32,400
Interest rate, percentage		24.00%
RMB [Member] | Beijing Chengda [Member]
Commitments and contingencies (Textual)
Unpaid balance amount						$ 6,246,059
RMB [Member] | Arbitration Demand of Bank [Member]
Commitments and contingencies (Textual)
Bank deposits aggregate amount	$ 7,700,000
RMB [Member] | Sihong [Member]
Commitments and contingencies (Textual)
Total amounts of judgment				$ 1,701,979
RMB [Member] | Jinshengding [Member]
Commitments and contingencies (Textual)
Total amount of compensation							$ 1,800,000
RMB [Member] | Gouwang [Member]
Commitments and contingencies (Textual)
Award damages amount					$ 9,168,463
Guarantee [Member]
Commitments and contingencies (Textual)
Accrued contingent liabilities								$ 2,200,000

Concentrations of Risk (Details

Concentrations of Risk (Details)	12 Months Ended
	Jun. 30, 2018USD ($)CustomerVendor	Jun. 30, 2017USD ($)CustomerVendor
Accounts Payable [Member]
Concentrations of risk (Textual)
Concentration of credit risk, description	No vendor accounted for more than 10% of the total balance of accounts payable.	No vendor accounted for more than 10% of the total balance of accounts payable.
Total Purchase [Member] | One vendor [Member]
Concentrations of risk (Textual)
Number of vendors | Vendor	1	1
Concentration of credit risk, percentage	11.40%	19.00%
One customer [Member] | Total Revenue [Member]
Concentrations of risk (Textual)
Number of customers | Customer	1	1
Concentration of credit risk, percentage	11.10%	12.00%
Accounts Receivable [Member]
Concentrations of risk (Textual)
Concentration of credit risk, description	No customer accounted for more than 10% of the total balance of accounts receivable.	No customer accounted for more than 10% of the total balance of accounts receivable.
Five customers [Member] | Accounts Receivable [Member]
Concentrations of risk (Textual)
Accounts receivable	$ 10,200,000	$ 17,900,000
Number of customers | Customer	5	5
US [Member]
Concentrations of risk (Textual)
Deposited from banks	$ 100,000
Insurance coverage of each bank	250,000
PRC [Member]
Concentrations of risk (Textual)
Deposited from banks	300,000
Insurance coverage of each bank	100,000
PRC [Member] | RMB [Member]
Concentrations of risk (Textual)
Insurance coverage of each bank	$ 500,000

Subsequent Events (Details)

Subsequent Events (Details) - Third-party individuals [Member] - Subsequent Event [Member] - USD ($)	1 Months Ended
	Aug. 23, 2018	Jul. 25, 2018
Common stock shares issued	50,000	45,977
Common stock price per share	$ 3	$ 6.525
Total proceeds	$ 150,000	$ 300,000

Schedule 1 - Parent Company Bal

Schedule 1 - Parent Company Balance Sheets (Unaudited) (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
CURRENT ASSETS:
Prepaid expenses	$ 1,569,162	$ 16,894,781
Total current assets	50,651,674	76,734,563
OTHER ASSETS:
Intercompany receivable	279,339	1,653,351
Total assets	53,400,083	80,378,766
CURRENT LIABILITIES:
Other payables - shareholders	195,763	2,925,543
Total current liabilities	43,697,875	70,499,782
OTHER LIABILITIES:
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.001 par value, 74,000,000 shares authorized, 5,488,649 and 2,387,658 shares issued and outstanding as of June 30, 2018 and 2017, respectively	5,489	2,388
Additional paid-in-capital	48,360,368	38,662,377
Deferred stock compensation	2,825,000
Deficit	(49,642,916)	(42,242,951)
Statutory reserves	6,248,092	6,248,092
Accumulated other comprehensive income	7,556,175	7,209,078
Total shareholders' equity	9,702,208	9,878,984	$ 21,127,730
Total liabilities and shareholders' equity	53,400,083	80,378,766
Parent [Member]
CURRENT ASSETS:
Cash	378,730	456	$ 456
Other receivables	2,300
Prepaid expenses	40,458
Total current assets	421,488	456
OTHER ASSETS:
Intercompany receivable	18,574,784	17,192,991
Total other assets	18,574,784	17,192,991
Total assets	18,996,272	17,193,447
CURRENT LIABILITIES:
Other payables	2,000
Other payables - shareholders		1,800,000
Total current liabilities	2,000	1,800,000
OTHER LIABILITIES:
Loss in excess of investment in subsidiaries	9,292,064	5,514,463
Total other liabilities	9,292,064	5,514,463
Total liabilities	9,294,064	7,314,463
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares issued or outstanding
Common stock, $0.001 par value, 74,000,000 shares authorized, 5,488,649 and 2,387,658 shares issued and outstanding as of June 30, 2018 and 2017, respectively	5,489	2,388
Additional paid-in-capital	48,360,368	38,662,377
Deferred stock compensation	(2,825,000)
Deficit	(49,642,916)	(42,242,951)
Statutory reserves	6,248,092	6,248,092
Accumulated other comprehensive income	7,556,175	7,209,078
Total shareholders' equity	9,702,208	9,878,984
Total liabilities and shareholders' equity	$ 18,996,272	$ 17,193,447

Schedule 1 - Parent Company B_2

Schedule 1 - Parent Company Balance Sheets (Unaudited) (Parenthetical) (Details) - $ / shares	Jun. 30, 2018	Jun. 30, 2017
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	74,000,000	74,000,000
Common stock, shares issued	5,488,649	2,387,658
Common stock, shares outstanding	5,488,649	2,387,658
Parent [Member]
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock par value	$ 0.001	$ 0.001
Common stock, shares authorized	74,000,000	74,000,000
Common stock, shares issued	5,488,649	2,387,658
Common stock, shares outstanding	5,488,649	2,387,658

Schedule 1 - Parent Company Sta

Schedule 1 - Parent Company Statements of Operations and Comprehensive Loss (Unaudited) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	$ 6,689,669	$ 5,669,702
LOSS FROM OPERATIONS	(3,343,736)	(8,773,267)
OTHER INCOME (EXPENSE), NET
Interest income	6,051	30,464
Finance expense	5,137	604,498
NET LOSS	(7,399,965)	(11,038,120)
OTHER COMPREHENSIVE INCOME (LOSS) - foreign currency translation income (loss)	347,097	(499,361)
COMPREHENSIVE LOSS	(7,052,868)	(11,537,481)
Parent [Member]
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES	(2,247,106)	(889,000)
LOSS FROM OPERATIONS	(2,247,106)	(889,000)
OTHER INCOME (EXPENSE), NET
Interest income	13
Finance expense	(26)
Equity loss of subsidiaries	(5,152,846)	(10,149,120)
TOTAL OTHER EXPENSE, NET	(5,152,859)	(10,149,120)
NET LOSS	(7,399,965)	(11,038,120)
OTHER COMPREHENSIVE INCOME (LOSS) - foreign currency translation income (loss)	347,097	(499,361)
COMPREHENSIVE LOSS	$ (7,052,868)	$ (11,537,481)

Schedule 1 - Parent Company S_2

Schedule 1 - Parent Company Statements of Cash Flows (Unaudited) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,399,965)	$ (11,038,120)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation expense	1,388,501	289,000
Changes in operating assets and liabilities
Other receivables	1,458,316	7,534,134
Prepaid expenses	(40,458)
Other payables	(3,924,701)	3,493,637
Other payables - shareholders	720,000	623,924
Net cash used in operating activities	2,450,018	1,700,657
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	600,000
Net cash provided by financing activities	(1,409,812)	(2,248,081)
Parent [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	(7,399,965)	(11,038,120)
Adjustments to reconcile net loss to cash used in operating activities:
Stock-based compensation expense	1,388,501	289,000
Loss from subsidiaries	5,152,846	10,149,120
Changes in operating assets and liabilities
Other receivables	(2,300)
Prepaid expenses	(40,458)
Intercompany receivable	(42,350)
Other payables	2,000
Other payables - shareholders	720,000	600,000
Net cash used in operating activities	(221,726)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	600,000
Net cash provided by financing activities	600,000
EFFECTS OF EXCHANGE RATE CHANGE IN CASH
NET CHANGE IN CASH	378,274
CASH, beginning of year	456	456
CASH, end of year	378,730	456
NON-CASH TRANSACTIONS OF INVESTING AND FINANCING ACTIVITIES:
Common stocks issued to repay shareholders	$ 3,859,443

Schedule 1 - Restricted Net Ass

Schedule 1 - Restricted Net Assets (Details)	Jun. 30, 2018
Parent [Member]
Restricted Net Assets (Textual)
Percent of consolidated net assets	25.00%

Schedule 1 - Shareholders' Equi

Schedule 1 - Shareholders' Equity (Details) - Restricted Stock [Member] - USD ($)	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Shares
Unvested, Beginning	106,859
Forfeited	(56,859)
Granted	56,859	206,859
Vested	(106,859)	(100,000)
Unvested, Ending		106,859
Weighted Average Grant Date Fair Value Per Share
Unvested, Beginning	$ 2.89
Forfeited	2.89
Granted	4.30	2.89
Vested	$ 3.64	2.89
Unvested, Ending		$ 2.89
Aggregate Intrinsic Value
Unvested, Beginning	$ 308,823
Forfeited	(164,323)
Granted	244,494	597,823
Vested	(388,994)	(289,000)
Unvested, Ending		$ 308,823
Parent [Member]
Shares
Unvested, Beginning	106,859
Forfeited	(56,859)
Granted	56,859	206,859
Vested	(106,859)	(100,000)
Unvested, Ending		106,859
Weighted Average Grant Date Fair Value Per Share
Unvested, Beginning	$ 2.89
Forfeited	2.89
Granted	4.30	2.89
Vested	3.64	2.89
Unvested, Ending		$ 2.89
Aggregate Intrinsic Value
Unvested, Beginning	$ 308,823
Forfeited	(164,323)
Granted	244,494	597,823
Vested	(388,994)	(289,000)
Unvested, Ending		$ 308,823

Schedule 1 - Shareholders' Eq_2

Schedule 1 - Shareholders' Equity (Details Textual) - USD ($)	Jan. 15, 2018	Jun. 30, 2018	May 31, 2018	Apr. 30, 2018	Jan. 31, 2018	Aug. 31, 2016	Jun. 30, 2018	Jun. 30, 2017
Shareholders' Equity (Textual)
Compensation expense related to restricted stock grants							$ 400,000	$ 300,000
Common stock value issued for compensation							1,244,001	289,000
First Tranche [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested	50,000
Parent [Member]
Shareholders' Equity (Textual)
Compensation expense related to restricted stock grants							$ 400,000	$ 300,000
Parent [Member] | First Tranche [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested	50,000
Parent [Member] | Second Tranche [Member]
Shareholders' Equity (Textual)
Restricted common stock, forfeited and cancelled	56,859
Two Employees [Member]
Shareholders' Equity (Textual)
Issuance date				Apr. 3, 2018
Closing price				$ 2.05
Issuance of common stock, shares				200,000
Issuance of common stock, value				$ 410,000
Two Employees [Member] | Parent [Member]
Shareholders' Equity (Textual)
Common stock shares issued for compensation				200,000
Common stock value issued for compensation				$ 410,000
Issuance date				Apr. 3, 2018
Closing price				$ 2.05
Mr. Xianfu Han [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				985,889
Restricted common stock fair value				$ 2,021,073
Issuance date				May 4, 2018
Closing price				$ 2.05
Mr. Weili He [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				896,766
Restricted common stock fair value				$ 1,838,370
Issuance date				May 4, 2018
Closing price				$ 2.05
Five Employees [Member]
Shareholders' Equity (Textual)
Issuance date			May 21, 2018
Closing price			$ 2.70
Issuance of common stock, shares			218,336
Issuance of common stock, value			$ 589,507
Five Employees [Member] | Parent [Member]
Shareholders' Equity (Textual)
Common stock shares issued for compensation			218,336
Common stock value issued for compensation			$ 589,507
Issuance date			May 21, 2018
Closing price			$ 2.70
Unrelated third-party individuals [Member]
Shareholders' Equity (Textual)
Issuance of common stock, shares			300,000
Unrelated third-party individuals [Member] | Parent [Member]
Shareholders' Equity (Textual)
Issuance of common stock, shares			300,000
Common stock price, per share			$ 2
Two Service Providers [Member]
Shareholders' Equity (Textual)
Issuance date		Jul. 31, 2018
Closing price		$ 5.65					$ 5.65
Issuance of common stock, shares		500,000
Issuance of common stock, value		$ 2,825,000
Two Service Providers [Member] | Parent [Member]
Shareholders' Equity (Textual)
Issuance date		Jun. 28, 2018
Closing price		$ 5.65					$ 5.65
Issuance of common stock, shares		500,000
Issuance of common stock, value		$ 2,825,000
Restricted Stock [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested							106,859	100,000
Restricted Stock [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, vested							106,859	100,000
Restricted Stock [Member] | Consultant [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						106,859
Restricted common stock fair value						$ 308,823
Restricted Stock [Member] | Consultant [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						106,859
Restricted common stock fair value						$ 308,823
Restricted Stock [Member] | Two Employees [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						100,000
Restricted common stock fair value						$ 289,000
Restricted Stock [Member] | Two Employees [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares						100,000
Restricted common stock fair value						$ 289,000
Restricted Stock [Member] | One employee [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares					56,859
Restricted common stock fair value					$ 244,494
Restricted Stock [Member] | One employee [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares					56,859
Restricted common stock fair value					$ 244,494
Restricted Stock [Member] | Mr. Xianfu Han [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				985,889
Restricted common stock fair value				$ 2,021,073
Issuance date				May 4, 2018
Closing price				$ 2.05
Restricted Stock [Member] | Mr. Weili He [Member] | Parent [Member]
Shareholders' Equity (Textual)
Restricted common stock, shares				896,766
Restricted common stock fair value				$ 1,838,370
Issuance date				May 4, 2018
Closing price				$ 2.05