EX-10.1

EX-10.2

EX-31.1

EX-31.2

EX-32.1

EX-32.2

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Summary of Significant Accounting Policies (Intangible Assets Useful Life Narrative) (Details)	6 Months Ended
	Dec. 31, 2012 Y
Summary Of Significant Accounting Policies Intangible Assets Useful Life Narrative Details
Intangible Assets Useful Life, Minimum	3
Intangible Assets Useful Life, Maximum	20

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Debt (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Current portion of long-term debt
Term loan - Wells Fargo	$ 154,514	$ 0
Unsecured subordinate promissory note - related party	100,000	0
Total current portion	254,514	0
Long-term debt, less current portion
Term loan - Wells Fargo	2,429,951	0
Line of credit - Wells Fargo	4,000,000	0
Unsecured subordinate promissory note - related party	400,000	0
Total long-term portion	6,829,951	0
Total debt	$ 7,084,465	$ 0

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Other Intangible Assets (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Jun. 30, 2012	Jun. 30, 2011
Intangible asset	$ 5,329,830		$ 5,329,830		$ 606,653	$ 502,436
Intangible addition			4,837,500		165,000
Intangible amortization expense	(98,169)	(15,196)	(114,323)	(30,392)	(60,783)
Trade name
Intangible asset	1,295,818		1,295,818		197,979	210,351
Intangible addition			1,118,000		0
Intangible amortization expense			(20,161)		(12,372)
Customer relationships
Intangible asset	845,907		845,907		102,224	108,620
Intangible addition			756,333		0
Intangible amortization expense			(12,650)		(6,396)
Technology/IP
Intangible asset	1,221,507		1,221,507		157,257	183,465
Intangible addition			1,101,500		0
Intangible amortization expense			(37,250)		(26,208)
Non-compete
Intangible asset	361,798		361,798		34,570	0
Intangible addition			349,000		43,214
Intangible amortization expense			(21,772)		(8,644)
GI Customer list
Intangible asset	111,041		111,041		114,623	0
Intangible addition			0		121,786
Intangible amortization expense			(3,582)		(7,163)
Supply Agreement
Intangible asset	1,493,759		1,493,759		0
Intangible addition			1,512,667
Intangible amortization expense			$ (18,908)

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Debt (Narrative) (Details) (USD $)

1 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

1 Months Ended

Apr. 30, 2011

Credit Agreement

Apr. 30, 2012

Amended Credit Facility

Dec. 31, 2012

Amended Credit Facility

Jun. 30, 2012

Amended Credit Facility

Dec. 31, 2012

July 2012 Credit Agreement

Dec. 31, 2012

Term Loan

Oct. 31, 2012

IVS Note

Line of Credit Facility, Description

The Company entered into a credit agreement and related loan documents, dated April 1, 2011 (the "Credit Agreement") with Wells Fargo Bank, National Association. The Credit Agreement provided the Company with a revolving credit facility of up to $5,000,000 that can be used for working capital requirements.

Effective April 1, 2012, the Company entered into a First Amendment to Credit Agreement, increasing the revolving credit facility to $7,500,000 (the "Amended Credit Facility"). The Amended Credit Facility terminates on April 1, 2014, at which time all amounts outstanding become due and payable. Any borrowings will bear interest at a rate per annum equal to the daily one month LIBOR rate for the applicable interest period plus two percent. Interest is payable each month in arrears. In the event of a default, as defined in the Amended Credit Facility, the principal balance will thereafter bear interest at an increased rate per annum equal to four percent above the interest rate that would otherwise have been in effect from time to time under the terms of the Amended Credit Facility. There is no borrowing base under the terms of the Amended Credit Facility. Under the Amended Credit Agreement, the Company incurs certain fees, including, without limitation, a fee of 0.5% of the unused portion of the credit facility, calculated quarterly. During the second quarter of fiscal year 2013, the Company borrowed $4,000,000 under the Credit Facility.

In July 2012, the Company entered into a new Credit Agreement with Wells Fargo (the "July 2012 Credit Agreement") and related term loan. The July 2012 Credit Facility amends and restates the Amended Credit Agreement covering the $7,500,000 revolving line of credit for working capital and adds a new term loan in the amount of $2,625,000 (the "Term Loan").

The Term Loan bears interest at a rate per annum equal to 2.35% above LIBOR in effect on the from time to time as specified in the term loan. Under the Term Loan, the Company is also required to pay both monthly and annual principal reduction as follows: The first installment of monthly principal repayments commenced in August 2012 and will continue at a fixed amount per month until the first annual increase in July 2013. Thereafter the amount of monthly principal reduction will increase in August of each year through August 2018. The last monthly payment will be made in July 2019. The monthly principal repayments will range from $8,107 per month through the July 2013 payment up to a high of $9,703 per month in the final year (August 2018 through July 2019). Annual principal payments will be payable in August 2013 and 2014 in the amount of $56,000, with a final installment, consisting of all remaining unpaid principal due and payable in full on July 5, 2019. The Company may prepay the principal at any time, provided that a minimum of the lesser of $100,000 or the entire outstanding principal balance is prepaid at any one time.

The Company applied the proceeds from the Term Loan to pay a portion of the purchase price for 640 acres of farmland it purchased in July 2012. In connection therewith, the Company executed and delivered a Deed of Trust and Assignment of Rents and Leases to American Securities Company for the benefit of the Bank.

On October 1, 2012, the Company issued a five-year subordinated promissory note to Imperial Valley Seeds, Inc. in the principal amount of $500,000 (the " IVS Note"), with a maturity date of October 1, 2017 (the "Maturity Date"). The IVS Note will accrue interest at a rate per annum equal to one-month LIBOR at closing plus 2% (2.2%). Interest will be payable in five annual installments, in arrears, commencing on October 1, 2013, and on each succeeding anniversary thereof through and including the Maturity Date (each, a "Payment Date"), and on the Maturity Date. Amortizing payments of the principal of $100,000 will also be made on each Payment Date, with any remaining outstanding principal and accrued interest payable on the Maturity Date.

Line of Credit Facility, fee for unused facility

$ 9,583

$ 29,236

Line of Credit Facility, Collateral

Borrowings under the Amended Credit Facility are secured by all of the Company's existing and after-acquired goods, tools, machinery, furnishings, furniture and other equipment. The Company has also granted Wells Fargo a continuing security interest in all existing and after-acquired rights to payment and inventory. The Amended Credit Facility contains customary representations and warranties, affirmative and negative covenants and customary events of default that permit the Lender to accelerate the Company's outstanding obligations, all as set forth in the Amended Credit Agreement.

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Business Combinations (Purchase of Assets Narrative) (Details) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

Oct. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Business Combinations Purchase Of Assets Narrative Details

Effective date of purchase agreement

Oct. 01, 2012

Business Acquisition, Name of Acquired Entity

On October 1, 2012, the Company purchased substantially all of the assets of Imperial Valley Seeds, Inc. ("IVS").

Business Combination, Reason for Business Combination

The acquisition expanded the Company's sourcing capabilities, product offerings and sales distribution.

Business Acquisition, Description of Acquired Entity

Pursuant to the acquisition agreement, the Company purchased substantially all of the assets of IVS not including cash on hand, all accounts and other receivables of IVS, and all inventory of the IVS alfalfa seed business. The Company did not assume any IVS liabilities.

Pursuant to the acquisition agreement, the Company paid the following consideration: cash in the amount of $3,000,000, a five-year unsecured, subordinated promissory note in the principal amount of $500,000, 400,000 shares of the Company's unregistered common stock valued at $2,432,000 and $250,000 to be paid over a five-year period for a non-competition agreement, for total consideration of $6,182,000. The non-compete portion of the consideration will be paid in five annual installments of $50,000 to Mr. Fabre, who joined the Company as Vice President of Sales and Marketing.

Business Acquisition, Cost of Acquired Entity, Purchase Price

$ 6,182,000

$ 6,182,000

$ 6,182,000

Cash paid as part of purchase price

3,000,000

3,000,000

3,000,000

Equity issued in connection with acquisition (in shares)

400,000

Equity issued in connection with acquisition

2,432,000

2,432,000

Unsecured, subordinated promissory note issued in connection with acquisition

500,000

Cost of non-competition agreement, issued in connection with acquisition

250,000

Non-competition agreement, payment period in years

5 years

Business Acquisition, Cost of Acquired Entity, Liabilities Incurred

$ 0

$ 250,000

$ 250,000

Acquisition Cost Expensed

In fiscal 2013, the Company incurred $52,749 of acquisition costs, of which $9,765 and $42,984 were expensed in operations during the first and second quarters of fiscal 2013, respectively.

In fiscal 2013, the Company incurred $52,749 of acquisition costs, of which $9,765 and $42,984 were expensed in operations during the first and second quarters of fiscal 2013, respectively.

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Summary of Significant Accounting Policies (Accounts Receivable Narrative) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Summary Of Significant Accounting Policies Accounts Receivable Narrative Details
Allowance for doubtful trade receivables	$ 10,445	$ 0

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Stockholders' Equity Warrants Outstanding (Details) (USD $)	Dec. 31, 2012
Warrants outstanding	3,039,900
Class A warrants
Warrant grant date	2010-05
Warrants outstanding	1,399,900
Exercise price per share	7.15
Warrant expiration date	2015-05
Class B warrants
Warrant grant date	2010-05
Warrants outstanding	1,400,000
Exercise price per share	11.00
Warrant expiration date	2015-05
Underwriter warrants - units
Warrant grant date	2010-05
Warrants outstanding	140,000
Exercise price per share	13.20
Warrant expiration date	2015-05
Other warrants
Warrant grant date	2010-05
Warrants outstanding	50,000
Exercise price per share	4.00
Warrant expiration date	2015-05
Underwriter warrants
Warrant grant date	2012-05
Warrants outstanding	50,000
Exercise price per share	6.88
Warrant expiration date	2017-02

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Property, Plant and Equipment (Tables)

6 Months Ended

Dec. 31, 2012

Property Plant And Equipment Tables

Components of Property, Plant and Equipment

Components of property, plant and equipment were as follows:

		December 31,		June 30,
		2012		2012
Land and improvements	$	6,608,157	$	289,827
Buildings and improvements		2,021,018		2,021,018
Machinery and equipment		755,262		677,407
Vehicles		123,551		123,551
Total property, plant and equipment		9,507,988		3,111,803
Less: accumulated depreciation		(776,444)		(670,617)
Property, plant and equipment, net	$	8,731,544	$	2,441,186

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Other Intangible Assets (Amortization Expense Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Jun. 30, 2012
Other Intangible Assets Amortization Expense Narrative Details
Amortization expense	$ 98,169	$ 15,196	$ 114,323	$ 30,392	$ 60,783

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Summary of Significant Accounting Policies (Impairment of Long-Lived Assets Narrative) (Details) (USD $)	6 Months Ended
	Dec. 31, 2012
Summary Of Significant Accounting Policies Impairment Of Long-Lived Assets Narrative Details
Impairment of Long-lived Assets	$ 0

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Summary of Significant Accounting Policies (Crop Production Useful Life Narrative) (Details)	6 Months Ended
	Dec. 31, 2012
Summary Of Significant Accounting Policies Crop Production Useful Life Narrative Details
Crop Production Costs, Useful Life, Minimum	3
Crop Production Costs, Useful Life, Maximum	5

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Property, Plant and Equipment (Purchase Narrative) (Details) (USD $)

1 Months Ended

Jul. 31, 2012

July 2012

Dec. 31, 2012

December 2012

Purchase of farmland in Imperial Valley of California

In July 2012, the Company purchased 640 acres of farmland in the Imperial Valley of California to be used for alfalfa seed production. During the six months ended December 31, 2012, the Company incurred costs of $5,474,205 in connection with the land purchase.

On December 31, 2012, the Company closed a transaction for the purchase of 182 acres of farmland in the Imperial Valley of California. The Company purchased the property as a tenant-in-common with a third party and paid $844,125 - an amount equal to fifty percent of the total purchase price plus certain closing costs and fees - for its interest in the property.

Costs of land purchase

$ 5,467,488

$ 844,125

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Equity-Based Compensation (2009 Equity Incentive Plan Narrative) (Details) (USD $)

3 Months Ended

6 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Jun. 30, 2012

Jun. 30, 2011

Dec. 31, 2012

2009 Plan

Oct. 31, 2011

October 2011 Grants

May 31, 2012

May 2012 Grants

Dec. 31, 2012

May 2012 Grants

Dec. 31, 2012

May 2012 Grants

Dec. 31, 2012

December 2012 Grants

Description of the 2009 Equity Incentive Plan

2009 Equity Incentive Plan

In October 2009 and January 2010, the Company's Board of Directors and stockholders, respectively, approved the 2009 Equity Incentive Plan (the "2009 Plan"). The plan authorized the grant and issuance of options, restricted shares and other equity compensation to the Company's directors, employees, officers and consultants, and those of the Company's subsidiaries and parent, if any. Initially, 750,000 shares of common stock have been reserved for issuance under the 2009 Plan.

The term of incentive stock options granted under the 2009 Plan may not exceed ten years, or five years for incentive stock options granted to an optionee owning more than 10% of the Company's voting stock. The exercise price of options granted under the 2009 Plan must be equal to or greater than the fair market value of the shares of the common stock on the date the option is granted. An incentive stock option granted to an optionee owning more than 10% of voting stock must have an exercise price equal to or greater than 110% of the fair market value of the common stock on the date the option is granted.

Number of shares reserved for issuance under the plan

750,000

Shares available for future grants and awards

325,000

Terms of awards and other restrictions

The term of incentive stock options granted under the 2009 Plan may not exceed ten years, or five years for incentive stock options granted to an optionee owning more than 10% of the Company's voting stock. The exercise price of options granted under the 2009 Plan must be equal to or greater than the fair market value of the shares of the common stock on the date the option is granted. An incentive stock option granted to an optionee owning more than 10% of voting stock must have an exercise price equal to or greater than 110% of the fair market value of the common stock on the date the option is granted.

Stock options granted

259,500

175,000

Stock option exercise price

$ 4.20

$ 7.20

Stock option or RSU vesting period

2 years

3 years

3 years

Stock option expiration date

Oct. 24, 2016

Dec. 08, 2017

Restricted stock units granted

73,000

Share-based compensation

$ 99,130

$ 42,893

$ 189,961

$ 67,303

$ 36,500

$ 73,000

Options, Outstanding as of end of period

852,000

852,000

677,000

417,500

Restricted stock units outstanding

73,000

73,000

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Business Combinations (Pro Forma Financial Information with Narrative) (Details) (USD $)

6 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Business Combinations Pro Forma Financial Information With Narrative Details

Total revenue

$ 24,919,249

$ 23,304,957

Net Income

$ 453,602

$ 1,697,544

Business Acquisition, Pro Forma Information, Description

The primary adjustments for the six months ended December 31, 2012 include: i) the elimination of acquisition-related charges of $52,749; ii) amortization of acquired intangibles of $81,538; iii) additional interest expense of $2,250 for the unsecured promissory note issued in the acquisition; and iv) to reflect the additional income tax expense assuming a combined Company's effective tax rate of 41%.

The primary adjustments for the six months ended December 31, 2011 include: i) amortization of acquired intangibles of $163,075; ii) additional interest expense of $5,625 for the unsecured promissory note issued in the acquisition; and iii) to reflect the additional income tax expense assuming a combined Company's effective tax rate of 34%.

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NOTE 3 - BUSINESS COMBINATIONS

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 3 - BUSINESS COMBINATIONS

NOTE 3 — BUSINESS COMBINATIONS

On October 1, 2012, the Company purchased substantially all of the assets of Imperial Valley Seeds, Inc. ("IVS"). Pursuant to the acquisition agreement, the Company purchased substantially all of the assets of IVS not including cash on hand, all accounts and other receivables of IVS, and all inventory of the IVS alfalfa seed business. The Company did not assume any IVS liabilities. The acquisition expanded the Company's sourcing capabilities, product offerings and sales distribution.

Pursuant to the acquisition agreement, the Company paid the following consideration: cash in the amount of $3,000,000, a five-year unsecured, subordinated promissory note in the principal amount of $500,000, 400,000 shares of the Company's unregistered common stock valued at $2,432,000 and $250,000 to be paid over a five-year period for a non-competition agreement, for total consideration of $6,182,000. The non-compete portion of the consideration will be paid in five annual installments of $50,000 to Fred Fabre, who joined the Company as Vice President of Sales and Marketing concurrently with the closure of IVS.

The acquisition has been accounted for under the acquisition method of accounting and the Company valued all assets and liabilities acquired at their estimated fair values on the date of acquisition. Accordingly, the assets and liabilities of the acquired entity were recorded at their estimated fair values at the date of the acquisition. The operating results for IVS have been included in the Company's consolidated financial statements since the acquisition date.

The preliminary purchase price allocation is based on estimates of fair value as follows:

Technology/IP	$	1,044,000
Customer relationships		756,333
Supply agreement		1,512,667
Trade-name and brands		1,118,000
Non-compete		349,000
Goodwill		1,402,000
Total acquisition cost allocated	$	6,182,000

The purchase price consists of the following:

Cash	$	3,000,000
Unsecured five-year promissory note		500,000
Non-compete payment obligation		250,000
Common stock		2,432,000
	$	6,182,000

The excess of the purchase price over the fair value of the net assets acquired, amounting to $1,402,000, was recorded as goodwill on the consolidated balance sheet. Goodwill is not amortized for financial reporting purposes, but is amortized for tax purposes.

Management assigned fair values to the identifiable intangible assets through a combination of the relief from royalty method and the multi-period excess earnings method.

The useful lives of the acquired intangibles are as follows:

	Useful Lives
Technology/IP	12
Customer relationships	20
Supply agreement	20
Trade-name and brands	20
Non-compete	5

In fiscal 2013, the Company incurred $52,749 of acquisition costs, of which $9,765 and $42,984 were expensed in operations during the first and second quarters of fiscal 2013, respectively.

The following unaudited pro forma financial information presents results as if the acquisition of IVS had occurred on July 1, 2011.

		Six Months Ended December 31,
(Unaudited)		2012		2011
Total revenue	$	24,919,249	$	23,304,957
Net income	$	453,602	$	1,697,544

For purposes of the pro forma disclosures above, the primary adjustments for the six months ended December 31, 2012 include: i) the elimination of acquisition-related charges of $52,749; ii) amortization of acquired intangibles of $81,538; iii) additional interest expense of $2,250 for the unsecured promissory note issued in the acquisition; and iv) to reflect the additional income tax expense assuming a combined Company's effective tax rate of 41%. The primary adjustments for the six months ended December 31, 2011 include: i) amortization of acquired intangibles of $163,075; ii) additional interest expense of $5,625 for the unsecured promissory note issued in the acquisition; and iii) to reflect the additional income tax expense assuming a combined Company's effective tax rate of 34%.

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Equity-Based Compensation (Weighted Average Assumptions) (Details)	6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Employee Options
Risk-free rate of interest	0.63%	1.10%
Dividend yield	0.00%	0.00%
Volatility of common stock	45.00%	63.00%
Exit / attrition rates	20% -25%	20% -30%
Target exercise factor	1.5 - 1.75	1.25 - 1.75
Non-Employee Options
Risk-free rate of interest	0.00%	1.10%
Dividend yield	0.00%	0.00%
Volatility of common stock	0.00%	56.00%
Exit / attrition rates	0	20%
Target exercise factor	0	1.25

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Business Combinations (Purchase Price Allocation) (Details) (USD $)	Dec. 31, 2012
Purchase Price Allocation
Technology/IP	$ 1,044,000
Customer relationships	756,333
Supply agreement	1,512,667
Trade-name and brands	1,118,000
Non-compete	349,000
Goodwill	1,402,000
Total acquisition cost allocated	$ 6,182,000

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Summary of Significant Accounting Policies (Concentrations Narrative) (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Jun. 30, 2012
Summary Of Significant Accounting Policies Concentrations Narrative Details
Sales revenue, major customer, percentage	30.00%	54.00%	79.00%	88.00%
Accounts receivable from one customer, percentage of total	42.00%		42.00%		78.00%
International sales revenue, percentage	80%	58%	79%	72%

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Equity-Based Compensation (Stock Options) (Tables)

6 Months Ended

Dec. 31, 2012

Equity-Based Compensation Stock Options Tables

Weighted Average Valuation Assumptions (Tables)

The fair value of employee option grants are estimated on the date of grant and the fair value of options granted to non-employees are re-measured as they vest. Fair value is calculated using a binomial lattice model. The weighted average assumptions used in the models are outlined in the following table:

	Employee Options		Non-Employee Options
	December 31,		December 31,
	2012	2011	2012	2011
Risk-free rate of interest	0.63%	1.10%	-	1.10%
Dividend yield	0%	0%	-	0%
Volatility of common stock	45%	63%	-	56%
Exit / attrition rates	20% - 25%	20% - 30%	-	20%
Target exercise factor	1.5 - 1.75	1.25 - 1.75	-	1.25

Summary of Share-Based Compensation Arrangements By Share-Based Payment Award (Tables)

A summary of activity related to the Company's 2009 Plan for the year ended June 30, 2012 and six months ended December 31, 2012 is presented below:

				Weighted-
			Weighted-	Average
			Average	Remaining
	Number		Exercise Price	Contractual
	Oustanding		Per Share	Life (Years)
Outstanding at June 30, 2011	417,500		4.00	3.75
Granted	259,500		4.20	4.33
Exercised	-		-	-
Canceled/forfeited/expired	-		-	-
Outstanding at June 30, 2012	677,000		4.08	3.36
Granted	175,000		7.20	4.95
Exercised	-		-	-
Canceled/forfeited/expired	-		-	-
Outstanding at December 31, 2012	852,000	$	4.72	3.29
Options vested and exercisable at December 31, 2012	497,667	$	4.06	2.73

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Stockholders' Equity Common Stock (Narrative) (Details) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

Jan. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2012

Dec. 31, 2011

Jun. 30, 2012

May 31, 2010

May 7 2010

May 31, 2012

May 7 2012

Dec. 31, 2012

May 7 2012

May 31, 2012

May 23 2012

Dec. 31, 2012

September 24 2012

Oct. 31, 2012

IVS Acquisition

Proceeds from IPO net of underwriters fees, shares

1,400,000

Proceeds from IPO net of underwriters fees, amount

$ 12,822,056

Description of IPO and other stock transactions

On May 7, 2010, the Company closed its initial public offering ("IPO") of 1,400,000 units, which priced at $11.00 per unit, raising gross proceeds of $15,400,000. Each unit consisted of two shares of common stock, one Class A warrant and one Class B warrant. In connection with the IPO, the Company issued Representative's Warrants to Paulson Investment Company, Inc. and Feltl and Company to purchase up to an aggregate of 140,000 units at $13.20, expiring May 3, 2015. Equity offering costs included $1,424,500 of underwriters' fees and $1,153,444 of other equity offering costs.

Each Class A warrant entitles its holder to purchase one share of the Company's common stock at an exercise price of $7.15. Each Class B warrant entitles its holder to purchase one share of common stock at an exercise price of $11.00. The Class A warrants and Class B warrants are exercisable at any time until their expiration on May 3, 2015. The Class A warrants and Class B warrants are redeemable at the Company's option for $0.25 upon 30 days' prior written notice beginning November 3, 2010, provided certain conditions are met. The Class A warrants are redeemable provided that the Company's common stock has closed at a price at least equal to $8.80 for at least five consecutive trading days. The Class B warrants are redeemable on the same terms, provided the Company's common stock has closed at a price at least equal to $13.75 for five consecutive trading days.

On May 23, 2012, the Company closed its underwritten confidentially marketed public offering ("CMPO") of 1,000,000 common shares, which priced at $5.50 per share. The Company received total proceeds, net of underwriting discounts and equity offering costs, of $5,006,311. In connection with the CMPO, the Company issued Representative's Warrants to Rodman & Renshaw LLC to purchase up to an aggregate of 50,000 shares of the Company's common stock at an exercise price of $6.875 per share, which expire on February 8, 2017.

On September 24, 2012, the Company sold 600,000 unregistered shares of its common stock for $5.85 per share, to one accredited investor. The Company received total proceeds, net of equity offering costs, of $3,462,586.

On October 1, 2012, the Company issued 400,000 shares of the Company's unregistered common stock pursuant to the acquisition agreement with IVS.

Proceeds from equity offering net of underwriter fees and expenses, shares

1,400,000

1,000,000

600,000

400,000

Proceeds from equity offering net of underwriter fees and expenses, amount

9,500,000

5,006,311

5,006,311

5,467,488

Restricted stock grant to executives, shares

73,000

Share-based compensation

99,130

42,893

189,961

67,303

36,500

Underwriter fees

1,424,500

Other equity offerings costs

$ 1,153,444

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Business Combinations (Purchase Price Components) (Details) (USD $)	1 Months Ended	6 Months Ended
	Oct. 31, 2012	Dec. 31, 2012
Business Combinations Purchase Price Components Details
Cash	$ 3,000,000	$ 3,000,000
Unsecured five-year promissory note		500,000
Non-compete payment obligation	0	250,000
Common stock	2,432,000	2,432,000
Total purchase price	$ 6,182,000	$ 6,182,000

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Summary of Significant Accounting Policies (Revenue Recognition Narrative) (Details)	6 Months Ended
	Dec. 31, 2012
Summary Of Significant Accounting Policies Revenue Recognition Narrative Details
Number of customers with right of return	0

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Summary of Significant Accounting Policies (Cash and Cash Equivalents) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Summary Of Significant Accounting Policies Cash And Cash Equivalents Details
Cash	$ 1,614,009	$ 5,014,771
Money market funds	1,423,465	3,220,724
Cash and cash equivalents	$ 3,037,474	$ 8,235,495	$ 6,808,285	$ 3,738,544

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP").

The consolidated financial statements include the accounts of Seed Holding, LLC and its other wholly-owned subsidiary, Stevia California, LLC. All significant intercompany balances and transactions have been eliminated.

Unaudited Interim Financial Information

The accompanying consolidated balance sheet as of December 31, 2012, consolidated statements of operations for the three and six months ended December 31, 2012 and 2011, consolidated statement of owners' equity for the six months ended December 31, 2012 and consolidated statements of cash flows for the six months ended December 31, 2012 and 2011 are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of the Company's management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments necessary for the fair presentation of the Company's statement of financial position at December 31, 2012 and its results of operations and its cash flows for the six months ended December 31, 2012 and 2011. The results for the three and six months ended December 31, 2012 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2013.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are adjusted to reflect actual experience when necessary. Significant estimates and assumptions affect many items in the financial statements. These include allowance for doubtful trade receivables, sales returns and allowances, inventory obsolescence, asset impairments, provisions for income taxes, grower accruals (an estimate of amounts payable to farmers who grow seed for the Company), contingencies and litigation. Significant estimates and assumptions are also used to establish the fair value and useful lives of depreciable tangible and certain intangible assets as well as valuing stock-based compensation. Actual results may differ from those estimates and assumptions, and such results may affect income, financial position or cash flows.

Certain Risks and Concentrations

The Company's revenue is principally derived from the sale of alfalfa seed, the market for which is highly competitive. The Company depends on a core group of significant customers. One customer accounted for 30% and 54% of its net revenue for the three months ended December 31, 2012 and 2011, respectively.  One customer accounted for 44% and 69% of its net revenue for the six months ended December 31, 2012 and 2011, respectively.

One customer comprised 42% and 78% of the Company's accounts receivable at December 31, 2012 and June 30, 2012, respectively.

Sales direct to international customers represented 80% and 58% of revenue during the three months ended December 31, 2012 and 2011, respectively. Sales direct to international customers represented 79% and 72% of revenue during the six months ended December 31, 2012 and 2011, respectively. All of the Company's sales to international customers are transactions which are denominated in U.S. Dollars. Accordingly, the Company's operations are not subject to foreign currency transactions or foreign currency translation.

Revenue Recognition

The Company derives its revenue primarily from sale of seed and other crops and milling services. Revenue from seed and other crop sales is recognized when risk and title to the product is transferred to the customer, which usually occurs at the time shipment is made from the Company's facilities.

When the right of return exists in the Company's seed business, sales revenue is reduced at the time of sale to reflect expected returns. In order to estimate the expected returns, management analyzes historical returns, economic trends, market conditions and changes in customer demand. At December 31, 2012, no customers had the right of return.

The Company recognizes revenue from milling services according to the terms of the sales agreements and when delivery has occurred, performance is complete, no right of return exists and pricing is fixed or determinable at the time of sale.

Additional conditions for recognition of revenue for all sales include the requirements that the collection of sales proceeds must be reasonably assured based on historical experience and current market conditions, the sales price is fixed and determinable and that there must be no further performance obligations under the sale.

Shipping and Handling Costs

The Company records purchasing and receiving costs, inspection costs and warehousing costs in cost of goods sold. In some instances, products are shipped F.O.B. shipping point and, as a result, the Company is not obligated to pay for shipping or any costs associated with delivering its products to its customers. In these instances, costs associated with the shipment of products are not included in the Company's consolidated financial statements. When the Company is required to pay for outward freight and/or the costs incurred to deliver products to its customers, the costs are included in cost of goods sold.

Sales Commissions

Sales commission expenses are accrued for when the applicable sale is completed, and all such expenses are classified as selling, general and administrative expenses on the consolidated statements of operations.

Cash and Cash Equivalents

For financial statement presentation purposes, the Company considers time deposits, certificates of deposit and all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. Cash and cash equivalents consist of the following:

		December 31,		June 30,
		2012		2012
Cash	$	1,614,009	$	5,014,771
Money market funds		1,423,465		3,220,724
	$	3,037,474	$	8,235,495

The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC"). Accounts are guaranteed by the FDIC up to $250,000 under current regulations. Cash equivalents held in money market funds are not FDIC insured. Cash deposits with these banks may exceed the amount of insurance provided on such deposits; however, these deposits typically may be redeemed upon demand and, therefore, bear minimal risk. The Company had approximately $1,364,009 and $4,764,771 in excess of FDIC insured limits at December 31, 2012 and June 30, 2012, respectively.  

Accounts Receivable

The Company provides an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer's trade accounts receivable. The allowance for doubtful trade receivables was $10,445 and $0 at December 31, 2012 and June 30, 2012, respectively.

Inventories

Inventory

Inventories consist of alfalfa seed purchased from the Company's growers under production contracts, alfalfa seed produced from its own farming operations as well as packaging materials.

Inventories are stated at the lower of cost or market, and an inventory reserve would permanently reduce the cost basis of inventory. Inventories are valued as follows: Actual cost is used to value raw materials such as packaging materials, as well as goods in process. Costs for substantially all finished goods, which include the cost of carryover crops from the previous year, are valued at actual cost. Actual cost for finished goods includes plant conditioning and packaging costs, direct labor and raw materials and manufacturing overhead costs based on normal capacity. The Company records abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) as current period charges and allocates fixed production overhead to the costs of finished goods based on the normal capacity of the production facilities.

Inventory is periodically reviewed to determine if it is marketable, obsolete or impaired. Inventory that is determined to not be marketable is written down to market value. Inventory that is determined to be obsolete or impaired is written off to expense at the time the impairment is identified. Because the germination rate, and therefore the quality, of alfalfa seed improves over the first year of proper storage, inventory obsolescence is not a material concern. The Company sells its inventory to distributors, dealers and directly to growers. During the three and six months ended December 31, 2012, the Company recorded a lower of cost or market valuation reserve of $300,000 for its stevia product line.

Growing Crops

Expenditures on growing crops are valued at the lower of cost or market and are deferred and charged to cost of products sold when the related crop is harvested and sold. The deferred growing costs included in inventories in the consolidated balance sheets consist primarily of labor, lease payments on land, interest expense on farmland, cultivation, on-going irrigation, harvest and fertilization costs. Costs included in growing crops relate to the current crop year. Costs that are to be realized over the life of the crop are reflected in crop production costs.

Components of inventory are:

		December 31,		June 30,
		2012		2012
Raw materials and supplies	$	44,746	$	73,386
Work in progress and growing crops		959,794		4,122,506
Finished goods		2,307,327		1,920,893
Lower of cost or market reserve		(300,000)		-
	$	3,011,867	$	6,116,785

Crop Production Costs

Expenditures on stevia and other crop production costs are valued at the lower of cost or market and are deferred and charged to cost of products sold when the related crop is harvested and sold. The deferred crop production costs included in the consolidated balance sheets consist primarily of the cost of plants and the transplanting, intermediate life irrigation equipment and land amendments and preparation. Crop production costs are estimated to have useful lives of three to five years depending on the crop and nature of the expenditure and are amortized to growing crop inventory each year over the estimated life of the crop.

Components of crop production costs are:

		December 31,		June 30,
		2012		2012
Stevia	$	1,227,411	$	935,466
Alfalfa seed production		1,721,606		73,031
Alfalfa hay		98,986		46,067
Wheat and triticale		-		43,728
Total crop production costs	$	3,048,003	$	1,098,292

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation. The cost of plant and equipment is depreciated using the straight-line method over the estimated useful life of the asset - periods of approximately 18-28 years for buildings, 3-7 years for machinery and equipment and 3-5 years for vehicles. Long-lived assets are reviewed for impairment whenever in management's judgment conditions indicate a possible loss. Such impairment tests compare estimated undiscounted cash flows to the recorded value of the asset. If an impairment is indicated, the asset is written down to its fair value or, if fair value is not readily determinable, to an estimated fair value based on discounted cash flows. Fully depreciated assets are retained in property, plant and equipment and accumulated depreciation accounts until they are removed from service. In case of disposals of assets, the assets and related accumulated depreciation are removed from the accounts, and the net amounts after proceeds from disposal are credited or charged to income.

Intangible Assets

Intangible assets acquired in business acquisitions are reported at their initial fair value less accumulated amortization. Intangible assets acquired in the acquisition of the customer list in July 2011 and the acquisition of proprietary alfalfa germ-plasm in August 2012 are reported at their initial cost less accumulated amortization. See Note 3 for further discussion. The intangible assets are amortized based on useful lives ranging from 3-20 years.

Goodwill and Other Intangible Assets Not Subject to Amortization

The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses Level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company's budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit's goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit.

Purchase Accounting

The Company accounts for acquisitions pursuant to Accounting Standards Codification ("ASC") No. 805, Business Combinations. The Company records all acquired tangible and intangible assets and all assumed liabilities based upon their estimated fair values.

Research and Development Costs

The Company is engaged in ongoing research and development ("R&D") of proprietary seed and stevia varieties. The Company accounts for R&D under standards issued by the Financial Accounting Standards Board ("FASB"). Under these standards, all R&D costs must be charged to expense as incurred. Accordingly, internal R&D costs are expensed as incurred. Third-party R&D costs are expensed when the contracted work has been performed or as milestone results have been achieved. The costs associated with equipment or facilities acquired or constructed for R&D activities that have alternative future uses are capitalized and depreciated on a straight-line basis over the estimated useful life of the asset. The amortization and depreciation for such capitalized assets are charged to R&D expenses.

Stock-Based Compensation

The Company has in effect a stock incentive plan under which incentive stock options have been granted to employees and non-qualified stock options have been granted to employees and non-employees, including members of the Board of Directors. The Company accounts for its stock-based compensation plan by expensing the estimated fair value of stock-based awards over the requisite service period, which is the vesting period. The measurement of stock-based compensation expense is based on several criteria including, but not limited to, the valuation model used and associated input factors such as expected term of the award, stock price volatility, dividend rate, risk-free interest rate, attrition rate and exercise price. The input factors to use in the valuation model are based on subjective future expectations combined with management judgment. The Company estimates the fair value of stock options using the binomial lattice valuation model and the assumptions shown in Note 10. The excess tax benefits recognized in equity related to equity award exercises are reflected as financing cash inflows. See Note 10 for a detailed discussion of stock-based compensation.

Net Income (Loss) Per Common Share Data

Basic net income (loss) per common share, or earnings per share ("EPS"), is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by adjusting outstanding shares, assuming any dilutive effects of options and common stock warrants calculated using the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company's common stock results in a greater dilutive effect from outstanding options, restricted stock awards and common stock warrants.

		Three Months Ended				Six Months Ended
		December 31,				December 31,
		2012		2011		2012		2011
Net income	$	146,609	$	443,064	$	235,365	$	965,829
Net income per common share:
Basic	$	0.02	$	0.08	$	0.03	$	0.17
Diluted	$	0.02	$	0.08	$	0.03	$	0.17
Weighted average number of common shares outstanding:
Basic		7,800,036		5,800,000		7,320,237		5,800,000
Diluted		8,353,411		5,804,207		7,652,221		5,817,006

Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows:

	December 31,
	2012	2011
Class A warrants	-	1,400,000
Class B warrants	1,400,000	1,400,000
Underwriter warrants	140,000	280,000
Other warrants	-	50,000
Stock options	-	480,000
Total	1,540,000	3,610,000

Income Taxes

The Company accounts for income taxes in accordance with standards of disclosure propounded by the FASB and any related interpretations of those standards sanctioned by the FASB. Accordingly, deferred tax assets and liabilities are determined based on differences between the financial statement and tax bases of assets and liabilities, as well as a consideration of net operating loss and credit carry forwards, using enacted tax rates in effect for the period in which the differences are expected to impact taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized.

Impairment of Long-Lived Assets

The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment ("ASC 360-10"). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long-lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of long-lived assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell. The Company performed an annual review for impairment and none existed as of June 30, 2012.

Fair Value of Financial Instruments

In the first quarter of fiscal year 2009, the Company adopted Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10"). ASC 820-10 defines fair value, establishes a framework for measuring fair value and enhances fair value measurement disclosure. ASC 820-10 delays, until the first quarter of fiscal year 2009, the effective date for ASC 820-10 for all non-financial assets and non-financial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). The adoption of ASC 820-10 did not have a material impact on the Company's consolidated financial position or operations, but does require that the Company disclose assets and liabilities that are recognized and measured at fair value on a non-recurring basis, presented in a three-tier fair value hierarchy, as follows:

• Level 1. Observable inputs such as quoted prices in active markets;
• Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
• Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

No assets were valued at fair value on a recurring or non-recurring basis as of December 31, 2012 or June 30, 2012, respectively.

Effective October 1, 2008, the Company adopted Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value. Neither of these statements had an impact on the Company's financial position, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts payable and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments.

Recent Accounting Pronouncements

In December 2010, the FASB issued FASB ASU No. 2010-29, "Disclosure of Supplementary Pro Forma Information for Business Combinations," which is now codified under FASB ASC Topic 805, "Business Combinations." A public entity is required to disclose pro forma data for business combinations occurring during the current reporting period. This ASU provides amendments to clarify the acquisition date to be used when reporting the pro forma financial information when comparative financial statements are presented and improves the usefulness of the pro forma revenue and earnings disclosures. If a public company presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination(s) which occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. The supplemental pro forma disclosures required are also expanded to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. FASB ASU No. 2010-29 is effective on a prospective basis for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2010, with early adoption permitted. The adoption of this ASU did not have a material effect on the Company's consolidated statement of financial position, results of operations or cash flows.

In May 2011, the FASB issued Accounting Standards Update (ASU) No. 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs." This update clarifies the application of certain existing fair value measurement guidance and expands the disclosures for fair value measurements that are estimated using significant unobservable (Level 3) inputs. This update is effective on a prospective basis for annual and interim reporting periods beginning on or after December 15, 2011, which for the Company was January 1, 2012. The adoption of this update did not have a material impact on its consolidated financial statements.

In October 2012, the FASB issued ASU No. 2012-04, "Technical Corrections and Improvements" in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on its consolidated financial statements.

In August 2012, the FASB issued ASU 2012-03, "Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)" in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on its consolidated financial statements.

In July 2012, the FASB issued ASU 2012-02, "Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment" in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment and permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, Intangibles - Goodwill and Other - General Intangibles Other than Goodwill. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of ASU 2012-02 is not expected to have a material impact on its consolidated financial statements.

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Summary of Significant Accounting Policies (Cash and Cash Equivalents Narrative) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Summary Of Significant Accounting Policies Cash And Cash Equivalents Narrative Details
Amount of FDIC guarantee	$ 250,000	$ 250,000
Cash in excess of FDIC limits	$ 1,364,009	$ 4,764,771

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Summary of Significant Accounting Policies (Net Income (Loss) Per Common Share) (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Jun. 30, 2012
Summary Of Significant Accounting Policies Net Income Loss Per Common Share Details
Net income	$ 146,609	$ 443,064	$ 235,365	$ 965,829	$ 374,835
Net income per common share:
Basic	$ 0.02	$ 0.08	$ 0.03	$ 0.17
Diluted	$ 0.02	$ 0.08	$ 0.03	$ 0.17
Weighted average number of common shares outstanding:
Basic	7,800,036	5,800,000	7,320,237	5,800,000
Diluted	8,353,411	5,804,207	7,652,221	5,817,006

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Property, Plant and Equipment (Depreciation Expense Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Property Plant And Equipment Depreciation Expense Narrative Details
Depreciation Expense	$ 52,195	$ 50,320	$ 105,826	$ 106,219

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Consolidated Balance Sheets (USD $)	Dec. 31, 2012	Jun. 30, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 3,037,474	$ 8,235,495
Accounts receivable, net	14,669,480	2,716,985
Inventories	3,011,867	6,116,785
Prepaid expenses and other current assets	236,185	138,236
Deferred tax asset	52,152	215,688
TOTAL CURRENT ASSETS	21,007,158	17,423,189
Property, plant and equipment, net of accumulated depreciation	8,731,544	2,441,186
Goodwill	1,402,000	0
Other intangibles, net	5,329,830	606,653
Crop production costs	3,048,003	1,098,292
Deferred tax asset - long term	464,375	464,375
TOTAL ASSETS	39,982,910	22,033,695
CURRENT LIABILITIES
Accounts payable	3,655,836	1,141,162
Accounts payable - related party	2,286,332	307,589
Accrued expenses and other current liabilities	305,218	454,512
Current portion of long-term debt	254,514	0
TOTAL CURRENT LIABILITIES	6,501,900	1,903,263
Non-compete obligation, less current porton	200,000	0
Long-term debt, less current portion	6,829,951	0
TOTAL LIABILITIES	13,531,851	1,903,263
STOCKHOLDERS' EQUITY
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,873,100 issued and outstanding at December 31, 2012; 6,873,000 issued and outstanding at June 30, 2012	7,873	6,873
Additional paid-in capital	25,881,238	19,796,976
Retained earnings	561,948	326,583
TOTAL STOCKHOLDERS' EQUITY	26,451,059	20,130,432
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 39,982,910	$ 22,033,695

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Business Combinations (Acquired Intangibles Useful Lives) (Details)	6 Months Ended
	Dec. 31, 2012
Acquired Technology/IP
Intangible Assets Useful Life	12 years
Acquired customer relationships
Intangible Assets Useful Life	20 years
Acquired supply agreement
Intangible Assets Useful Life	20 years
Acquired trade-name and brands
Intangible Assets Useful Life	20 years
Acquired non-compete
Intangible Assets Useful Life	5 years

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Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 235,365	$ 965,829
Adjustments to reconcile net income (loss) from operating activities to net cash provided by (used in) operating activities
Stock-based compensation	189,961	67,303
Change in allowance for doubtful accounts	10,445	(3,587)
Inventory reserve	300,000	0
Depreciation and amortization	220,149	136,611
Loss on disposal of fixed assets	0	26,362
Changes in:
Accounts receivable	(11,962,940)	(2,256,819)
Inventories	2,804,918	1,745,094
Prepaid expenses and other current assets	(97,234)	53
Crop production costs	(1,949,711)	(630,321)
Deferred tax asset	163,536	460,676
Other asset - long term	0	(90,000)
Accounts payable	2,514,674	2,444,371
Accounts payable - related party	1,978,743	611,005
Accrued expenses and other current liabilities	(199,294)	(66,686)
Net cash provided by (used in) operating activities	(5,791,388)	3,409,891
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(6,396,184)	(175,150)
Acquisition of customer list	0	(165,000)
Acquisition of business	(3,000,000)	0
Acquisition of germ plasm	(57,500)	0
Net cash used in investing activities	(9,453,684)	(340,150)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from sale of common stock	3,462,586	0
Borrowings on line of credit	4,000,000	0
Borrowings of long-term debt	2,625,000	0
Repayments of long-term debt	(40,535)	0
Net cash provided by financing activities	10,047,051	0
NET INCREASE OR (DECREASE) IN CASH	(5,198,021)	3,069,741
CASH AND CASH EQUIVALENTS, beginning of the period	8,235,495	3,738,544
CASH AND CASH EQUIVALENTS, end of period	3,037,474	6,808,285
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	22,028	0
Income taxes	0	0
Non-cash investing activities:
Technology/IP	1,044,000	0
Customer relationships	756,333	0
Supply agreement	1,512,667	0
Trade-name and brands	1,118,000	0
Non-compete	349,000	0
Goodwill	1,402,000	0
Unsecured five-year promissory note	(500,000)	0
Non-compete payment obligation	(250,000)	0
Common stock issued for acquisition	(2,432,000)	0
Cash paid for acquisitions	$ 3,000,000	$ 0

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Commitments and Contingeencies (Lease of Imperial Valley Farmland Narrative) (Details)

1 Months Ended

Jul. 31, 2012

Commitments And Contingeencies Lease Of Imperial Valley Farmland Narrative Details

Description of Leasing Arrangements, Operating Leases

Lease of Imperial Valley Farmland

On July 27, 2012, the Company entered into a five-year farmland lease effective as of July 1, 2012, covering approximately 1,240 acres on two parcels located in the Imperial Valley owned by Coast Imperial Partners. The two parcels are adjacent to the 640 acres of farmland the Company purchased concurrently from Coast Imperial Partners. The Company intends to use the leased and purchased farmland to further expand the production of its proprietary alfalfa seed varieties. The lease provides for annual escalating rental rates per acre ranging from $150 per acre per year in the first year of the lease, when 920 acres will be available for production, to $275 per acre per year in the fifth year. The full 1,240 acres will be available to the Company beginning in the second year and thereafter for the duration of the lease term and any extensions thereof. Rents are recorded on a straight-line basis over the life of the lease.

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Summary of Significant Accounting Policies (Inventories Narrative) (Details) (USD $)	3 Months Ended	6 Months Ended
	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2011
Summary Of Significant Accounting Policies Inventories Narrative Details
Lower of cost or market valuation reserve	$ 300,000	$ 300,000	$ 0

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Subsequent Events (Underwritten Public Offering) (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended
	Jan. 31, 2013	Jun. 30, 2012
Subsequent Events Underwritten Public Offering Narrative Details
Proceeds from equity offering net of underwriter fees and expenses, shares	1,400,000
Proceeds from equity offering net of underwriter fees and expenses, amount	$ 9,500,000	$ 5,006,311
Price of common shares, per share	$ 7.50

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Summary of Significant Accounting Policies (Net Income (Loss) Per Common Share Data) (Tables)

6 Months Ended

Dec. 31, 2012

Summary Of Significant Accounting Policies Net Income Loss Per Common Share Data Tables

Net Income (Loss) Per Common Share Data (Tables)

Basic net income (loss) per common share, or earnings per share ("EPS"), is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by adjusting outstanding shares, assuming any dilutive effects of options and common stock warrants calculated using the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company's common stock results in a greater dilutive effect from outstanding options, restricted stock awards and common stock warrants.

		Three Months Ended				Six Months Ended
		December 31,				December 31,
		2012		2011		2012		2011
Net income	$	146,609	$	443,064	$	235,365	$	965,829
Net income per common share:
Basic	$	0.02	$	0.08	$	0.03	$	0.17
Diluted	$	0.02	$	0.08	$	0.03	$	0.17
Weighted average number of common shares outstanding:
Basic		7,800,036		5,800,000		7,320,237		5,800,000
Diluted		8,353,411		5,804,207		7,652,221		5,817,006

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows:

	December 31,
	2012	2011
Class A warrants	-	1,400,000
Class B warrants	1,400,000	1,400,000
Underwriter warrants	140,000	280,000
Other warrants	-	50,000
Stock options	-	480,000
Total	1,540,000	3,610,000

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Summary of Significant Accounting Policies (Crop Production Cost by Component) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Summary Of Significant Accounting Policies Crop Production Cost By Component Details
Stevia	$ 1,227,411	$ 935,466
Alfalfa seed production	1,721,606	73,031
Alfalfa hay	98,986	46,067
Wheat and triticale	0	43,728
Total crop production costs	$ 3,048,003	$ 1,098,292

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Other Intangible Assets (Tables)

6 Months Ended

Dec. 31, 2012

Other Intangible Assets Tables

Carrying values of intangible assets (Tables)

Other intangible assets consist of the following:

		Balance at						Balance at
		July 1, 2011		Additions		Amortization		June 30, 2012
Trade name	$	210,351	$	-	$	(12,372)	$	197,979
Customer relationships		108,620		-		(6,396)		102,224
Technology/IP		183,465		-		(26,208)		157,257
Non-compete		-		43,214		(8,644)		34,570
GI customer list		-		121,786		(7,163)		114,623
	$	502,436	$	165,000	$	(60,783)	$	606,653

		Balance at						Balance at
		July 1, 2012		Additions		Amortization		December 31, 2012
Trade name	$	197,979	$	1,118,000	$	(20,161)	$	1,295,818
Customer relationships		102,224		756,333		(12,650)		845,907
Technology/IP		157,257		1,101,500		(37,250)		1,221,507
Non-compete		34,570		349,000		(21,772)		361,798
GI customer list		114,623		-		(3,582)		111,041
Supply agreement		-		1,512,667		(18,908)		1,493,759
	$	606,653	$	4,837,500	$	(114,323)	$	5,329,830

Amortization expense totaled $98,169 and $15,196 for the three months ended December 31, 2012 and 2011, respectively. Amortization expense totaled $114,323 and $30,392 for the six months ended December 31, 2012 and 2011, respectively. Estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:

		2013		2014		2015		2016		2017
Amortization expense	$	310,661	$	392,676	$	392,676	$	392,676	$	384,032

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NOTE 1 - BACKGROUND AND ORGANIZATION

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 1 — BACKGROUND AND ORGANIZATION

NOTE 1 — BACKGROUND AND ORGANIZATION

Organization

The original business of the Company, that is, breeding, growing, processing and selling agricultural commodities, such as alfalfa seed, and to a lesser extent, wheat and small grains, began as S&W Seed Company, a general partnership, in July 1980. The corporate entity, S&W Seed Company, was incorporated in Delaware in October 2009. The corporation is the successor entity to Seed Holding, LLC, which had purchased a majority interest in the general partnership between June 2008 and December 2009. Following the Company's initial public offering in May 2010, the Company purchased the remaining general partnership interests and became the sole owner of the business. Seed Holding, LLC is a consolidated subsidiary of the Company.

In December 2011, S&W Seed Company consummated a merger (the "Reincorporation") with and into its wholly-owned subsidiary, S&W Seed Company, a Nevada corporation, pursuant to the terms and conditions of an Agreement and Plan of Merger. As a result of the Reincorporation, the Company is now a Nevada corporation.

Business Overview

Since its establishment, the Company, including its predecessor entities, has been principally engaged in breeding, growing, processing and selling agricultural commodities, including alfalfa seed, and to a lesser extent, wheat and small grains. The Company owns a 40-acre seed cleaning and processing facility located in Five Points, California that it has operated since its inception. The Company's products are primarily grown under contract by farmers in the San Joaquin and Imperial Valleys of California, as well as by the Company itself under a small direct farming operation. The Company began its stevia initiative in fiscal 2010 and moved from a pilot program to commercial production in fiscal 2011. The Company recorded its first stevia revenue in the second quarter of fiscal 2012 under a commercial supply agreement with a major stevia processor.

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Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2012	Jun. 30, 2012
STOCKHOLDERS' EQUITY
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	7,873,100	6,873,000

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Note 11 - SUBSEQUENT EVENT

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Note 11 - SUBSEQUENT EVENT

NOTE 11—SUBSEQUENT EVENT

On January 16, 2013, the Company closed its underwritten public offering of 1,400,000 common shares, which priced at $7.50 per share. The Company received total proceeds, net of underwriting discounts and equity offering costs, of approximately $9.5 million.

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Document and Entity Information	6 Months Ended
	Dec. 31, 2012	Feb. 12, 2013
Document And Entity Information
Entity Registrant Name	S&W Seed Co
Entity Central Index Key	0001477246
Document Type	10-Q
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,273,100
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2013

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Principles of Consolidation

Basis of Presentation and Principles of Consolidation

The Company maintains its accounting records on an accrual basis in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP").

The consolidated financial statements include the accounts of Seed Holding, LLC and its other wholly-owned subsidiary, Stevia California, LLC. All significant intercompany balances and transactions have been eliminated.

Unaudited Interim Financial Information

Unaudited Interim Financial Information

The accompanying consolidated balance sheet as of December 31, 2012, consolidated statements of operations for the three and six months ended December 31, 2012 and 2011, consolidated statement of owners' equity for the six months ended December 31, 2012 and consolidated statements of cash flows for the six months ended December 31, 2012 and 2011 are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of the Company's management, the unaudited interim consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments necessary for the fair presentation of the Company's statement of financial position at December 31, 2012 and its results of operations and its cash flows for the six months ended December 31, 2012 and 2011. The results for the three and six months ended December 31, 2012 are not necessarily indicative of the results to be expected for the fiscal year ending June 30, 2013.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are adjusted to reflect actual experience when necessary. Significant estimates and assumptions affect many items in the financial statements. These include allowance for doubtful trade receivables, sales returns and allowances, inventory obsolescence, asset impairments, provisions for income taxes, grower accruals (an estimate of amounts payable to farmers who grow seed for the Company), contingencies and litigation. Significant estimates and assumptions are also used to establish the fair value and useful lives of depreciable tangible and certain intangible assets as well as valuing stock-based compensation. Actual results may differ from those estimates and assumptions, and such results may affect income, financial position or cash flows.

Certain Risks and Concentrations

Certain Risks and Concentrations

The Company's revenue is principally derived from the sale of alfalfa seed, the market for which is highly competitive. The Company depends on a core group of significant customers. One customer accounted for 30% and 54% of its net revenue for the three months ended December 31, 2012 and 2011, respectively.  One customer accounted for 44% and 69% of its net revenue for the six months ended December 31, 2012 and 2011, respectively.

One customer comprised 42% and 78% of the Company's accounts receivable at December 31, 2012 and June 30, 2012, respectively.

Sales direct to international customers represented 80% and 58% of revenue during the three months ended December 31, 2012 and 2011, respectively. Sales direct to international customers represented 79% and 72% of revenue during the six months ended December 31, 2012 and 2011, respectively. All of the Company's sales to international customers are transactions which are denominated in U.S. Dollars. Accordingly, the Company's operations are not subject to foreign currency transactions or foreign currency translation.

No Foreign Currency Transactions

All of the Company's sales to international customers are transactions which are denominated in U.S. Dollars. Accordingly, the Company's operations are not subject to foreign currency transactions or foreign currency translation.

Revenue Recognition

Revenue Recognition

The Company derives its revenue primarily from sale of seed and other crops and milling services. Revenue from seed and other crop sales is recognized when risk and title to the product is transferred to the customer, which usually occurs at the time shipment is made from the Company's facilities.

When the right of return exists in the Company's seed business, sales revenue is reduced at the time of sale to reflect expected returns. In order to estimate the expected returns, management analyzes historical returns, economic trends, market conditions and changes in customer demand. At December 31, 2012, no customers had the right of return.

The Company recognizes revenue from milling services according to the terms of the sales agreements and when delivery has occurred, performance is complete, no right of return exists and pricing is fixed or determinable at the time of sale.

Additional conditions for recognition of revenue for all sales include the requirements that the collection of sales proceeds must be reasonably assured based on historical experience and current market conditions, the sales price is fixed and determinable and that there must be no further performance obligations under the sale.

Shipping and Handling Costs

Shipping and Handling Costs

The Company records purchasing and receiving costs, inspection costs and warehousing costs in cost of goods sold. In some instances, products are shipped F.O.B. shipping point and, as a result, the Company is not obligated to pay for shipping or any costs associated with delivering its products to its customers. In these instances, costs associated with the shipment of products are not included in the Company's consolidated financial statements. When the Company is required to pay for outward freight and/or the costs incurred to deliver products to its customers, the costs are included in cost of goods sold.

Sales Commissions

Sales Commissions

Sales commission expenses are accrued for when the applicable sale is completed, and all such expenses are classified as selling, general and administrative expenses on the consolidated statements of operations.

Cash and Equivalents

Cash and Cash Equivalents

For financial statement presentation purposes, the Company considers time deposits, certificates of deposit and all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. Cash and cash equivalents consist of the following:

		December 31,		June 30,
		2012		2012
Cash	$	1,614,009	$	5,014,771
Money market funds		1,423,465		3,220,724
	$	3,037,474	$	8,235,495

The Company maintains cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation ("FDIC"). Accounts are guaranteed by the FDIC up to $250,000 under current regulations. Cash equivalents held in money market funds are not FDIC insured. Cash deposits with these banks may exceed the amount of insurance provided on such deposits; however, these deposits typically may be redeemed upon demand and, therefore, bear minimal risk. The Company had approximately $1,364,009 and $4,764,771 in excess of FDIC insured limits at December 31, 2012 and June 30, 2012, respectively.  

Accounts Receivable

Accounts Receivable

The Company provides an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer's trade accounts receivable. The allowance for doubtful trade receivables was $10,445 and $0 at December 31, 2012 and June 30, 2012, respectively.

Inventories

Inventories

Inventory

Inventories consist of alfalfa seed purchased from the Company's growers under production contracts, alfalfa seed produced from its own farming operations as well as packaging materials.

Inventories are stated at the lower of cost or market, and an inventory reserve would permanently reduce the cost basis of inventory. Inventories are valued as follows: Actual cost is used to value raw materials such as packaging materials, as well as goods in process. Costs for substantially all finished goods, which include the cost of carryover crops from the previous year, are valued at actual cost. Actual cost for finished goods includes plant conditioning and packaging costs, direct labor and raw materials and manufacturing overhead costs based on normal capacity. The Company records abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) as current period charges and allocates fixed production overhead to the costs of finished goods based on the normal capacity of the production facilities.

Inventory is periodically reviewed to determine if it is marketable, obsolete or impaired. Inventory that is determined to not be marketable is written down to market value. Inventory that is determined to be obsolete or impaired is written off to expense at the time the impairment is identified. Because the germination rate, and therefore the quality, of alfalfa seed improves over the first year of proper storage, inventory obsolescence is not a material concern. The Company sells its inventory to distributors, dealers and directly to growers. During the three and six months ended December 31, 2012, the Company recorded a lower of cost or market valuation reserve of $300,000 for its stevia product line.

Growing Crops

Expenditures on growing crops are valued at the lower of cost or market and are deferred and charged to cost of products sold when the related crop is harvested and sold. The deferred growing costs included in inventories in the consolidated balance sheets consist primarily of labor, lease payments on land, interest expense on farmland, cultivation, on-going irrigation, harvest and fertilization costs. Costs included in growing crops relate to the current crop year. Costs that are to be realized over the life of the crop are reflected in crop production costs.

Components of inventory are:

		December 31,		June 30,
		2012		2012
Raw materials and supplies	$	44,746	$	73,386
Work in progress and growing crops		959,794		4,122,506
Finished goods		2,307,327		1,920,893
Lower of cost or market reserve		(300,000)		-
	$	3,011,867	$	6,116,785

Crop Production Costs

Crop Production Costs

Expenditures on stevia and other crop production costs are valued at the lower of cost or market and are deferred and charged to cost of products sold when the related crop is harvested and sold. The deferred crop production costs included in the consolidated balance sheets consist primarily of the cost of plants and the transplanting, intermediate life irrigation equipment and land amendments and preparation. Crop production costs are estimated to have useful lives of three to five years depending on the crop and nature of the expenditure and are amortized to growing crop inventory each year over the estimated life of the crop.

Components of crop production costs are:

		December 31,		June 30,
		2012		2012
Stevia	$	1,227,411	$	935,466
Alfalfa seed production		1,721,606		73,031
Alfalfa hay		98,986		46,067
Wheat and triticale		-		43,728
Total crop production costs	$	3,048,003	$	1,098,292

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are stated at cost less accumulated depreciation. The cost of plant and equipment is depreciated using the straight-line method over the estimated useful life of the asset - periods of approximately 18-28 years for buildings, 3-7 years for machinery and equipment and 3-5 years for vehicles. Long-lived assets are reviewed for impairment whenever in management's judgment conditions indicate a possible loss. Such impairment tests compare estimated undiscounted cash flows to the recorded value of the asset. If an impairment is indicated, the asset is written down to its fair value or, if fair value is not readily determinable, to an estimated fair value based on discounted cash flows. Fully depreciated assets are retained in property, plant and equipment and accumulated depreciation accounts until they are removed from service. In case of disposals of assets, the assets and related accumulated depreciation are removed from the accounts, and the net amounts after proceeds from disposal are credited or charged to income.

Intangible Assets

Intangible Assets

Intangible assets acquired in business acquisitions are reported at their initial fair value less accumulated amortization. Intangible assets acquired in the acquisition of the customer list in July 2011 and the acquisition of proprietary alfalfa germ-plasm in August 2012 are reported at their initial cost less accumulated amortization. See Note 3 for further discussion. The intangible assets are amortized based on useful lives ranging from 3-20 years.

Goodwill and Other Intangible Assets Not Subject to Amortization

Goodwill and Other Intangible Assets Not Subject to Amortization

The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses Level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company's budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit's goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit.

Purchase Accounting

Purchase Accounting

The Company accounts for acquisitions pursuant to Accounting Standards Codification ("ASC") No. 805, Business Combinations. The Company records all acquired tangible and intangible assets and all assumed liabilities based upon their estimated fair values.

Research and Development Costs

Research and Development Costs

The Company is engaged in ongoing research and development ("R&D") of proprietary seed and stevia varieties. The Company accounts for R&D under standards issued by the Financial Accounting Standards Board ("FASB"). Under these standards, all R&D costs must be charged to expense as incurred. Accordingly, internal R&D costs are expensed as incurred. Third-party R&D costs are expensed when the contracted work has been performed or as milestone results have been achieved. The costs associated with equipment or facilities acquired or constructed for R&D activities that have alternative future uses are capitalized and depreciated on a straight-line basis over the estimated useful life of the asset. The amortization and depreciation for such capitalized assets are charged to R&D expenses.

Stock-Based Compensation

Stock-Based Compensation

The Company has in effect a stock incentive plan under which incentive stock options have been granted to employees and non-qualified stock options have been granted to employees and non-employees, including members of the Board of Directors. The Company accounts for its stock-based compensation plan by expensing the estimated fair value of stock-based awards over the requisite service period, which is the vesting period. The measurement of stock-based compensation expense is based on several criteria including, but not limited to, the valuation model used and associated input factors such as expected term of the award, stock price volatility, dividend rate, risk-free interest rate, attrition rate and exercise price. The input factors to use in the valuation model are based on subjective future expectations combined with management judgment. The Company estimates the fair value of stock options using the binomial lattice valuation model and the assumptions shown in Note 10. The excess tax benefits recognized in equity related to equity award exercises are reflected as financing cash inflows. See Note 10 for a detailed discussion of stock-based compensation.

The Company has adopted ASC 718, Stock Compensation, ("ASC 718"). ASC 718 requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide services in exchange for the award.

The Company accounts for equity instruments, including stock options, issued to non-employees in accordance with authoritative guidance for equity based payments to non-employees (FASB ASC 505-50). Stock options issued to non-employees are accounted for at their estimated fair value. The fair value of options granted to non-employees is re-measured as they vest.

For stock-based awards granted, the Company amortizes stock-based compensation expense on a straight-line basis over the requisite service period.

The fair value of employee option grants are estimated on the date of grant and the fair value of options granted to non- employees are re-measured as they vest. Fair value is calculated using a binomial lattice model.

Net Income (Loss) Per Common Share Data

Net Income (Loss) Per Common Share Data

Basic net income (loss) per common share, or earnings per share ("EPS"), is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the year. Diluted EPS is calculated by adjusting outstanding shares, assuming any dilutive effects of options and common stock warrants calculated using the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company's common stock results in a greater dilutive effect from outstanding options, restricted stock awards and common stock warrants.

		Three Months Ended				Six Months Ended
		December 31,				December 31,
		2012		2011		2012		2011
Net income	$	146,609	$	443,064	$	235,365	$	965,829
Net income per common share:
Basic	$	0.02	$	0.08	$	0.03	$	0.17
Diluted	$	0.02	$	0.08	$	0.03	$	0.17
Weighted average number of common shares outstanding:
Basic		7,800,036		5,800,000		7,320,237		5,800,000
Diluted		8,353,411		5,804,207		7,652,221		5,817,006

Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows:

	December 31,
	2012	2011
Class A warrants	-	1,400,000
Class B warrants	1,400,000	1,400,000
Underwriter warrants	140,000	280,000
Other warrants	-	50,000
Stock options	-	480,000
Total	1,540,000	3,610,000

Income Taxes

Income Taxes

The Company accounts for income taxes in accordance with standards of disclosure propounded by the FASB and any related interpretations of those standards sanctioned by the FASB. Accordingly, deferred tax assets and liabilities are determined based on differences between the financial statement and tax bases of assets and liabilities, as well as a consideration of net operating loss and credit carry forwards, using enacted tax rates in effect for the period in which the differences are expected to impact taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized.

Impairment of Long-lived Assets

Impairment of Long-Lived Assets

The Company has adopted Accounting Standards Codification subtopic 360-10, Property, Plant and Equipment ("ASC 360-10"). ASC 360-10 requires that long-lived assets and certain identifiable intangibles held and used by the Company be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates its long-lived assets for impairment annually or more often if events and circumstances warrant. Events relating to recoverability may include significant unfavorable changes in business conditions, recurring losses or a forecasted inability to achieve break-even operating results over an extended period. The Company evaluates the recoverability of long-lived assets based upon forecasted undiscounted cash flows. Should impairment in value be indicated, the carrying value of long-lived assets will be adjusted, based on estimates of future discounted cash flows resulting from the use and ultimate disposition of the asset. ASC 360-10 also requires assets to be disposed of be reported at the lower of the carrying amount or the fair value less costs to sell. The Company performed an annual review for impairment and none existed as of June 30, 2012.

Fair Values of Financial Instruments

Fair Value of Financial Instruments

In the first quarter of fiscal year 2009, the Company adopted Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10"). ASC 820-10 defines fair value, establishes a framework for measuring fair value and enhances fair value measurement disclosure. ASC 820-10 delays, until the first quarter of fiscal year 2009, the effective date for ASC 820-10 for all non-financial assets and non-financial liabilities, except those that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). The adoption of ASC 820-10 did not have a material impact on the Company's consolidated financial position or operations, but does require that the Company disclose assets and liabilities that are recognized and measured at fair value on a non-recurring basis, presented in a three-tier fair value hierarchy, as follows:

• Level 1. Observable inputs such as quoted prices in active markets;
• Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and
• Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

No assets were valued at fair value on a recurring or non-recurring basis as of December 31, 2012 or June 30, 2012, respectively.

Effective October 1, 2008, the Company adopted Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value. Neither of these statements had an impact on the Company's financial position, results of operations or cash flows. The carrying value of cash and cash equivalents, accounts payable and short-term borrowings, as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In December 2010, the FASB issued FASB ASU No. 2010-29, "Disclosure of Supplementary Pro Forma Information for Business Combinations," which is now codified under FASB ASC Topic 805, "Business Combinations." A public entity is required to disclose pro forma data for business combinations occurring during the current reporting period. This ASU provides amendments to clarify the acquisition date to be used when reporting the pro forma financial information when comparative financial statements are presented and improves the usefulness of the pro forma revenue and earnings disclosures. If a public company presents comparative financial statements, the entity should disclose revenue and earnings of the combined entity as though the business combination(s) which occurred during the current year had occurred as of the beginning of the comparable prior annual reporting period only. The supplemental pro forma disclosures required are also expanded to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings. FASB ASU No. 2010-29 is effective on a prospective basis for business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2010, with early adoption permitted. The adoption of this ASU did not have a material effect on the Company's consolidated statement of financial position, results of operations or cash flows.

In May 2011, the FASB issued Accounting Standards Update (ASU) No. 2011-04, "Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs." This update clarifies the application of certain existing fair value measurement guidance and expands the disclosures for fair value measurements that are estimated using significant unobservable (Level 3) inputs. This update is effective on a prospective basis for annual and interim reporting periods beginning on or after December 15, 2011, which for the Company was January 1, 2012. The adoption of this update did not have a material impact on its consolidated financial statements.

In October 2012, the FASB issued ASU No. 2012-04, "Technical Corrections and Improvements" in Accounting Standards Update No. 2012-04. The amendments in this update cover a wide range of Topics in the Accounting Standards Codification. These amendments include technical corrections and improvements to the Accounting Standards Codification and conforming amendments related to fair value measurements. The amendments in this update will be effective for fiscal periods beginning after December 15, 2012. The adoption of ASU 2012-04 is not expected to have a material impact on its consolidated financial statements.

In August 2012, the FASB issued ASU 2012-03, "Technical Amendments and Corrections to SEC Sections: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin (SAB) No. 114, Technical Amendments Pursuant to SEC Release No. 33-9250, and Corrections Related to FASB Accounting Standards Update 2010-22 (SEC Update)" in Accounting Standards Update No. 2012-03. This update amends various SEC paragraphs pursuant to the issuance of SAB No. 114. The adoption of ASU 2012-03 is not expected to have a material impact on its consolidated financial statements.

In July 2012, the FASB issued ASU 2012-02, "Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment" in Accounting Standards Update No. 2012-02. This update amends ASU 2011-08, Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment and permits an entity first to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test in accordance with Subtopic 350-30, Intangibles - Goodwill and Other - General Intangibles Other than Goodwill. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of ASU 2012-02 is not expected to have a material impact on its consolidated financial statements.

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Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Revenue
Seed revenue	$ 13,573,356	$ 4,073,865	$ 19,929,408	$ 9,959,177
Milling and other revenue	112,527	654,164	476,210	884,531
Total revenue	13,685,883	4,728,029	20,405,618	10,843,708
Cost of revenue
Cost of seed revenue	12,054,917	2,960,857	17,604,336	7,258,802
Cost of milling and other revenue	46,514	243,379	138,428	309,821
Total cost of revenue	12,101,431	3,204,236	17,742,764	7,568,623
Gross profit	1,584,452	1,523,793	2,662,854	3,275,085
Operating expenses
Selling, general and administrative expenses	1,065,089	761,765	1,815,440	1,469,718
Research and development expenses	102,036	61,629	205,467	154,505
Depreciation and amortization	150,364	65,516	220,149	136,611
Total operating expenses	1,317,489	888,910	2,241,056	1,760,834
Income from operations	266,963	634,883	421,798	1,514,251
Other expense
Loss on disposal of fixed assets	0	26,362	0	26,362
Interest expense, net	14,229	4,260	22,097	8,422
Net income before income tax expense	252,734	604,261	399,701	1,479,467
Income tax expens	106,125	161,197	164,336	513,638
Net income	$ 146,609	$ 443,064	$ 235,365	$ 965,829
Net income (loss) per common share:
Basic	$ 0.02	$ 0.08	$ 0.03	$ 0.17
Diluted	$ 0.02	$ 0.08	$ 0.03	$ 0.17
Weighted average number of common shares outstanding:
Basic	7,800,036	5,800,000	7,320,237	5,800,000
Diluted	8,353,411	5,804,207	7,652,221	5,817,006

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NOTE 6 - DEBT

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 6 — DEBT

NOTE 6 — DEBT

Total debts outstanding are presented on the balance sheet as follows:

		December 31, 2012		June 30, 2012
Current portion of long-term debt
Term loan - Wells Fargo	$	154,514	$	-
Unsecured subordinate promissory note - related party		100,000		-
Total current portion		254,514		-
Long-term debt, less current portion
Term loan - Wells Fargo		2,429,951		-
Line of credit - Wells Fargo		4,000,000		-
Unsecured subordinate promissory note - related party		400,000		-
Total long-term portion		6,829,951		-
Total debt	$	7,084,465	$	-

The Company entered into a credit agreement and related loan documents, dated April 1, 2011 (the "Credit Agreement") with Wells Fargo Bank, National Association. The Credit Agreement provided the Company with a revolving credit facility of up to $5,000,000 that can be used for working capital requirements. Effective April 1, 2012, the Company entered into a First Amendment to Credit Agreement, increasing the revolving credit facility to $7,500,000 (the "Amended Credit Facility"). The Amended Credit Facility terminates on April 1, 2014, at which time all amounts outstanding become due and payable. Any borrowings will bear interest at a rate per annum equal to the daily one month LIBOR rate for the applicable interest period plus two percent. Interest is payable each month in arrears. In the event of a default, as defined in the Amended Credit Facility, the principal balance will thereafter bear interest at an increased rate per annum equal to four percent above the interest rate that would otherwise have been in effect from time to time under the terms of the Amended Credit Facility. There is no borrowing base under the terms of the Amended Credit Facility. Under the Amended Credit Agreement, the Company incurs certain fees, including, without limitation, a fee of 0.5% of the unused portion of the credit facility, calculated quarterly. During the second quarter of fiscal year 2013, the Company borrowed $4,000,000 under the Credit Facility.

Borrowings under the Amended Credit Facility are secured by all of the Company's existing and after-acquired goods, tools, machinery, furnishings, furniture and other equipment. The Company has also granted Wells Fargo a continuing security interest in all existing and after-acquired rights to payment and inventory. The Amended Credit Facility contains customary representations and warranties, affirmative and negative covenants and customary events of default that permit the Lender to accelerate the Company's outstanding obligations, all as set forth in the Amended Credit Agreement.

In July 2012, the Company entered into a new Credit Agreement with Wells Fargo (the "July 2012 Credit Agreement") and related term loan. The July 2012 Credit Facility amends and restates the Amended Credit Agreement covering the $7,500,000 revolving line of credit for working capital and adds a new term loan in the amount of $2,625,000 (the "Term Loan"). The Term Loan bears interest at a rate per annum equal to 2.35% above LIBOR in effect on the from time to time as specified in the term loan. Under the Term Loan, the Company is also required to pay both monthly and annual principal reduction as follows: The first installment of monthly principal repayments commenced in August 2012 and will continue at a fixed amount per month until the first annual increase in July 2013. Thereafter the amount of monthly principal reduction will increase in August of each year through August 2018. The last monthly payment will be made in July 2019. The monthly principal repayments will range from $8,107 per month through the July 2013 payment up to a high of $9,703 per month in the final year (August 2018 through July 2019). Annual principal payments will be payable in August 2013 and 2014 in the amount of $56,000, with a final installment, consisting of all remaining unpaid principal due and payable in full on July 5, 2019. The Company may prepay the principal at any time, provided that a minimum of the lesser of $100,000 or the entire outstanding principal balance is prepaid at any one time.

The Company applied the proceeds from the Term Loan to pay a portion of the purchase price for 640 acres of farmland it purchased in July 2012. In connection therewith, the Company executed and delivered a Deed of Trust and Assignment of Rents and Leases to American Securities Company for the benefit of the Bank.

On October 1, 2012, the Company issued a five-year subordinated promissory note to Imperial Valley Seeds, Inc. in the principal amount of $500,000 (the " IVS Note"), with a maturity date of October 1, 2017 (the "Maturity Date"). The IVS Note will accrue interest at a rate per annum equal to one-month LIBOR at closing plus 2% (2.2%). Interest will be payable in five annual installments, in arrears, commencing on October 1, 2013, and on each succeeding anniversary thereof through and including the Maturity Date (each, a "Payment Date"), and on the Maturity Date. Amortizing payments of the principal of $100,000 will also be made on each Payment Date, with any remaining outstanding principal and accrued interest payable on the Maturity Date.

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NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

NOTE 5 — PROPERTY, PLANT AND EQUIPMENT

In July 2012, the Company purchased 640 acres of farmland in the Imperial Valley of California to be used for alfalfa seed production. During the six months ended December 31, 2012, the Company incurred costs of $5,474,205 in connection with the land purchase.

On December 31, 2012, the Company closed a transaction for the purchase of 182 acres of farmland in the Imperial Valley of California. The Company purchased the property as a tenant-in-common with a third party and paid $844,125--an amount equal to fifty percent of the total purchase price plus certain closing costs and fees--for its interest in the property.

Components of property, plant and equipment were as follows:

		December 31,		June 30,
		2012		2012
Land and improvements	$	6,608,157	$	289,827
Buildings and improvements		2,021,018		2,021,018
Machinery and equipment		755,262		677,407
Vehicles		123,551		123,551
Total property, plant and equipment		9,507,988		3,111,803
Less: accumulated depreciation		(776,444)		(670,617)
Property, plant and equipment, net	$	8,731,544	$	2,441,186

Depreciation expense totaled $52,195 and $50,320 for the three months ended December 31, 2012 and 2011, respectively. Depreciation expense totaled $105,826 and $106,219 for the six months ended December 31, 2012 and 2011, respectively.

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Business Combinations (Tables)

6 Months Ended

Dec. 31, 2012

Business Combinations Tables

Schedule of Purchase Price Allocation [Table Text Block]

The preliminary purchase price allocation is based on estimates of fair value as follows:

Technology/IP	$	1,044,000
Customer relationships		756,333
Supply agreement		1,512,667
Trade-name and brands		1,118,000
Non-compete		349,000
Goodwill		1,402,000
Total acquisition cost allocated	$	6,182,000

The purchase price consists of the following:

Cash	$	3,000,000
Unsecured five-year promissory note		500,000
Non-compete payment obligation		250,000
Common stock		2,432,000
	$	6,182,000

Purchase price components of business combination

The purchase price consists of the following:

Cash	$	3,000,000
Unsecured five-year promissory note		500,000
Non-compete payment obligation		250,000
Common stock		2,432,000
	$	6,182,000

Useful lives of acquired intangibles in business combination

The useful lives of the acquired intangibles are as follows:

	Useful Lives
Technology/IP	12
Customer relationships	20
Supply agreement	20
Trade-name and brands	20
Non-compete	5

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited pro forma financial information presents results as if the acquisition of IVS had occurred on July 1, 2012.

MATT TO INSERT TABLE

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Summary of Significant Accounting Policies (Cash and Cash Equivalents) (Tables)

6 Months Ended

Dec. 31, 2012

Summary Of Significant Accounting Policies Cash And Cash Equivalents Tables

Cash and Cash Equivalents (Tables)

Cash and cash equivalents consist of the following:

		December 31,		June 30,
		2012		2012
Cash	$	1,614,009	$	5,014,771
Money market funds		1,423,465		3,220,724
	$	3,037,474	$	8,235,495

T

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NOTE 9 - RELATED PARTY TRANSACTIONS

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 9 — RELATED PARTY TRANSACTIONS

NOTE 9 — RELATED PARTY TRANSACTIONS

Grover T. Wickersham, the Company's Chairman of the Board, also serves as the chairman of the board of managers and is a principal owner of Triangle T Partners, LLC ("Triangle T"). Triangle T and its predecessor entity owned and operated Triangle T Ranch (the "Ranch"), which in the past has been one of our major alfalfa seed growers. The Ranch was sold to an unaffiliated party in October 2010, and the relationship between the Company and Triangle T has been in transition since then.

Triangle T is one of the Company's alfalfa seed growers and is also a customer. The Company enters into annual alfalfa seed production contracts with Triangle T on the same commercial terms and conditions as with the other growers with whom the Company contracts for alfalfa seed production. For the six months ended December 31, 2012 and 2011, the Company purchased from Triangle T $0 and $1,430,984, respectively, of alfalfa seed Triangle T grew and sold to the Company under one-year production agreements. The Company entered into agreements with Triangle T to plant 893 acres of various alfalfa seed varieties as part of its calendar 2011 production for which the Company paid Triangle T the same price it agreed to pay its other growers. Mr. Wickersham, the sole remaining related party affiliated with both Triangle T and the Company, did not personally receive nor will he receive any portion of these funds.

As one of the Company's customers, Triangle T purchases certified alfalfa seed from the Company to plant alfalfa on its own property for the production of alfalfa hay and to grow alfalfa seed for the Company. The Company sells certified alfalfa seed to Triangle T under the same commercial terms and conditions as other alfalfa seed customers in the San Joaquin Valley. The Company also generates revenue from selling milling services to Triangle T under the same commercial terms and conditions as other milling customers. The Company sold $0 and $138,578 of certified alfalfa seed and milling services to Triangle T during the six months ended December 31, 2012 and 2011, respectively. Triangle T also worked with the Company as the initial service provider for the Company's stevia cultivation program, and the Company has planted its stevia plantings on Triangle T property. The Company incurred $184,075 of charges from Triangle T during the six months ended December 31, 2012 for its services and costs in connection with the stevia cultivation program including $3,420 in monthly rent charges for the use of the 114-acre main plot being used for commercial stevia production. The Company incurred $57,807 of charges from Triangle T during the six months ended December 31, 2011 for its services and costs in connection with the stevia cultivation program. Mr. Wickersham personally did not receive any portion of these funds.

Amounts due to Triangle T totaled $374,941 and $307,589 at December 31, 2012 and June 30, 2012, respectively.

In July 2011, the Company purchased 20 bee trailers from Triangle T for a total price of $85,000. In December 2011, the Company purchased 38 additional bee trailers from Triangle T for a total price of $76,000. Mr. Wickersham personally did not receive any portion of these funds.

On November 22, 2011, the Company entered into a one-year Agricultural Sub-Sublease Agreement with Triangle T under the terms of which the Company agreed to sublease approximately 1,400 acres of farmland in Madera County for seed alfalfa production and approximately 1,000 acres for the planting of other crops (collectively, the "Leased Property") owned by John Hancock Life Insurance Company (U.S.A.) ("John Hancock"). John Hancock purchased the property known as Triangle T Ranch from Triangle T in 2009, and the parties entered into an Agricultural Sublease in connection with that purchase transaction. The Company subleased a portion of the Leased Property (the "Subleased Property").

The sub-sublease provided for a lump sum payment of $352,000 in exchange for the right to farm the Subleased Property through November 15, 2012. Although the sub-sublease is between the Company and Triangle T, payment was made directly to John Hancock, with Triangle T receiving no payment as the lessor. In addition to the annual rent payment, the Company paid for all farming operations and was responsible for keeping, maintaining and repairing the Subleased Property, including buildings, roads, pumping drainage and irrigation systems, equipment, as well as paying the costs of insurance, utilities, assessments and other costs incidental to the farming and maintenance of the Subleased Property. The Company was entitled to all income and proceeds from the farming operations on the Subleased Property, including but not limited to income and proceeds from all crops, crop insurance, government payments and subsidies. The Company used the services of TTP employees and TTP equipment in connection with farming the Subleased Property, as needed. The Company incurred $832,907 of charges from Triangle T for its services and costs in connection with farming operations during the six months ended December 31, 2012.

Glen D. Bornt, who recently joined the Company's Board of Directors, is the founder and President of Imperial Valley Milling Co. ("IVM"). He is its majority shareholder and a member of its Board of Directors. Fred Fabre, the Company's Vice President of Sales and Marketing, is a minority shareholder of IVM. IVM had a 15-year supply agreement with Imperial Valley Seeds, Inc. ("IVS"), which was assigned by IVS to the Company when it purchased the assets of IVS in October 2012. IVM contracts with alfalfa seed growers in California's Imperial Valley and sells its growers' seed to the Company pursuant to a supply agreement. Under the terms of the supply agreement, IVM's entire certified and uncertified alfalfa seed production will be offered and sold to the Company, and the Company will have the exclusive option to purchase all or any portion of IVM's seed production. The Company paid $4,575,714 to IVM during the three and six months ended December 31, 2012. Total amounts due to IVM at December 31, 2012 totaled $1,911,391.

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Related Party Transactions (Narrative) (Details) (USD $)

6 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Dec. 31, 2012

Jun. 30, 2012

Dec. 31, 2012

Triangle T

Dec. 31, 2011

Triangle T

Jun. 30, 2012

Triangle T

Dec. 31, 2011

Triangle T Trailers A

Dec. 31, 2011

Triangle T Trailers B

Dec. 31, 2012

Triangle T Sublease

Dec. 31, 2012

IVM

Dec. 31, 2012

IVM

Related Party Transaction, Description of Transaction

Grover T. Wickersham, the Company's Chairman of the Board, also serves as the chairman of the board of managers and is a principal owner of Triangle T Partners, LLC ("Triangle T "). Triangle T and its predecessor entity owned and operated Triangle T Ranch (the "Ranch"), which in the past has been one of our major alfalfa seed growers. The Ranch was sold to an unaffiliated party in October 2010, and the relationship between the Company and Triangle T has been in transition since then.

Triangle T is one of the Company's alfalfa seed growers and is also a customer. The Company enters into annual alfalfa seed production contracts with Triangle T on the same commercial terms and conditions as with the other growers with whom the Company contracts for alfalfa seed production. For the six months ended December 31, 2012 and 2011, the Company purchased from Triangle T $0 and $1,430,984, respectively, of alfalfa seed Triangle T grew and sold to the Company under one-year production agreements. The Company entered into agreements with Triangle T to plant 893 acres of various alfalfa seed varieties as part of its calendar 2011 production for which the Company paid Triangle T the same price it agreed to pay its other growers. Mr. Wickersham, the sole remaining related party affiliated with both Triangle T and the Company, did not personally receive nor will he receive any portion of these funds.

As one of the Company's customers, Triangle T purchases certified alfalfa seed from the Company to plant alfalfa on its own property for the production of alfalfa hay and to grow alfalfa seed for the Company. The Company sells certified alfalfa seed to Triangle T under the same commercial terms and conditions as other alfalfa seed customers in the San Joaquin Valley. The Company also generates revenue from selling milling services to Triangle T under the same commercial terms and conditions as other milling customers. The Company sold $0 and $138,578 of certified alfalfa seed and milling services to Triangle T during the six months ended December 31, 2012 and 2011, respectively. Triangle T also worked with the Company as the initial service provider for the Company's stevia cultivation program, and the Company has planted its stevia plantings on Triangle T property. The Company incurred $184,075 of charges from Triangle T during the six months ended December 31, 2012 for its services and costs in connection with the stevia cultivation program including $3,420 in monthly rent charges for the use of the 114-acre main plot being used for commercial stevia production. The Company incurred $57,807 of charges from Triangle T during the six months ended December 31, 2011 for its services and costs in connection with the stevia cultivation program. Mr. Wickersham personally did not receive any portion of these funds.

In July 2011, the Company purchased 20 bee trailers from Triangle T for a total price of $85,000. Mr. Wickersham personally did not receive any portion of these funds.

In December 2011, the Company purchased 38 additional bee trailers from Triangle T for a total price of $76,000. Mr. Wickersham personally did not receive any portion of these funds.

On November 22, 2011, the Company entered into a one-year Agricultural Sub-Sublease Agreement with Triangle T under the terms of which the Company agreed to sublease approximately 1,400 acres of farmland in Madera County for seed alfalfa production and approximately 1,000 acres for the planting of other crops (collectively, the "Leased Property") owned by John Hancock Life Insurance Company (U.S.A.) ("John Hancock"). John Hancock purchased the property known as Triangle T Ranch from Triangle T in 2009, and the parties entered into an Agricultural Sublease in connection with that purchase transaction. The Company subleased a portion of the Leased Property (the "Subleased Property").

The sub-sublease provided for a lump sum payment of $352,000 in exchange for the right to farm the Subleased Property through November 15, 2012. Although the sub-sublease is between the Company and Triangle T, payment was made directly to John Hancock, with Triangle T receiving no payment as the lessor. In addition to the annual rent payment, the Company paid for all farming operations and was responsible for keeping, maintaining and repairing the Subleased Property, including buildings, roads, pumping drainage and irrigation systems, equipment, as well as paying the costs of insurance, utilities, assessments and other costs incidental to the farming and maintenance of the Subleased Property. The Company was entitled to all income and proceeds from the farming operations on the Subleased Property, including but not limited to income and proceeds from all crops, crop insurance, government payments and subsidies. The Company used the services of TTP employees and TTP equipment in connection with farming the Subleased Property, as needed. The Company incurred $832,907 of charges from Triangle T for its services and costs in connection with farming operations during the six months ended December 31, 2012.

Glen D. Bornt, who recently joined the Company's Board of Directors, is the founder and President of Imperial Valley Milling Co. ("IVM"). He is its majority shareholder and a member of its Board of Directors. Fred Fabre, the Company's Vice President of Sales and Marketing, is a minority shareholder of IVM. IVM had a 15-year supply agreement with Imperial Valley Seeds, Inc. ("IVS"), which was assigned by IVS to the Company when it purchased the assets of IVS in October 2012. IVM contracts with alfalfa seed growers in California's Imperial Valley and sells its growers' seed to the Company pursuant to a supply agreement. Under the terms of the supply agreement, IVM's entire certified and uncertified alfalfa seed production will be offered and sold to the Company, and the Company will have the exclusive option to purchase all or any portion of IVM's seed production. The Company paid $4,575,714 to IVM during the three and six months ended December 31, 2012. Total amounts due to IVM at December 31, 2012 totaled $1,911,391.

Related Party Transaction, Purchases from Related Party

$ 0

$ 1,430,984

$ 85,000

$ 76,000

$ 798,326

$ 4,575,714

$ 4,575,714

Revenue from Related Parties

0

138,578

Related Party Transaction, Expenses from Transactions with Related Party

184,075

57,807

Accounts Receivable, Related Parties, Current

0

0

0

0

Accounts Payable, Related Parties, Current

$ 2,286,332

$ 307,589

$ 307,589

$ 374,941

$ 1,911,391

$ 1,911,391

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NOTE 7 - STOCKHOLDERS' EQUITY

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 7 — STOCKHOLDERS' EQUITY

NOTE 7 — STOCKHOLDERS' EQUITY

On May 7, 2010, the Company closed its initial public offering ("IPO") of 1,400,000 units, which priced at $11.00 per unit, raising gross proceeds of $15,400,000. Each unit consisted of two shares of common stock, one Class A warrant and one Class B warrant. In connection with the IPO, the Company issued Representative's Warrants to Paulson Investment Company, Inc. and Feltl and Company to purchase up to an aggregate of 140,000 units at $13.20, expiring May 3, 2015. Equity offering costs included $1,424,500 of underwriters' fees and $1,153,444 of other equity offering costs.

Each Class A warrant entitles its holder to purchase one share of the Company's common stock at an exercise price of $7.15. Each Class B warrant entitles its holder to purchase one share of common stock at an exercise price of $11.00. The Class A warrants and Class B warrants are exercisable at any time until their expiration on May 3, 2015. The Class A warrants and Class B warrants are redeemable at the Company's option for $0.25 upon 30 days' prior written notice beginning November 3, 2010, provided certain conditions are met. The Class A warrants are redeemable provided that the Company's common stock has closed at a price at least equal to $8.80 for at least five consecutive trading days. The Class B warrants are redeemable on the same terms, provided the Company's common stock has closed at a price at least equal to $13.75 for five consecutive trading days.

On May 7, 2012, the Company issued 73,000 shares of restricted common stock to certain members of the executive management team. The restricted common shares vest annually in equal installments over a three-year period, commencing one year from the date of the grant. The Company recorded $36,500 and $73,000 of stock-based compensation expense associated with this grant during the three and six months ended December 31, 2012, respectively. The value of the award was based on the closing stock price on the date of grant.

On May 23, 2012, the Company closed its underwritten confidentially marketed public offering ("CMPO") of 1,000,000 common shares, which priced at $5.50 per share. The Company received total proceeds, net of underwriting discounts and equity offering costs, of $5,006,311. In connection with the CMPO, the Company issued Representative's Warrants to Rodman & Renshaw LLC to purchase up to an aggregate of 50,000 shares of the Company's common stock at an exercise price of $6.875 per share, which expire on February 8, 2017.

On September 24, 2012, the Company sold 600,000 unregistered shares of its common stock for $5.85 per share, to one accredited investor. The Company received total proceeds, net of equity offering costs, of $3,462,586.

On October 1, 2012, the Company issued 400,000 shares of the Company's unregistered common stock pursuant to the acquisition agreement with IVS.

The following table summarizes the warrants outstanding:

	Grant	Warrants		Exercise Price	Expiration
	Date	Outstanding		Per Share / Unit	Date
Class A warrants	May 2010	1,399,900	$	7.15	May 2015
Class B warrants	May 2010	1,400,000	$	11.00	May 2015
Underwriter warrants - units	May 2010	140,000	$	13.20	May 2015
Other warrants	May 2010	50,000	$	4.00	May 2015
Underwriter warrants	May 2012	50,000	$	6.88	Feb 2017
		3,039,900

The Company is authorized to issue up to 50,000,000 shares of its $0.001 par value common stock. At December 31, 2012, there were 7,873,100 shares issued and outstanding. At June 30, 2012, there were 6,873,000 shares issued and outstanding.

See Note 10 for discussion on equity-based compensation.

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NOTE 8 - COMMITMENTS AND CONTINGENCIES

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 8 — COMMITMENTS AND CONTINGENCIES

NOTE 8 — COMMITMENTS AND CONTINGENCIES

Contingencies

The Company is not currently a party to any pending or threatened legal proceedings. Based on information currently available, management is not aware of any matters that would have a material adverse effect on the Company's financial condition, results of operations or cash flows.

Lease of Imperial Valley Farmland

On July 27, 2012, the Company entered into a five-year farmland lease effective as of July 1, 2012, covering approximately 1,240 acres on two parcels located in the Imperial Valley owned by Coast Imperial Partners. The two parcels are adjacent to the 640 acres of farmland the Company purchased concurrently from Coast Imperial Partners. The Company intends to use the leased and purchased farmland to further expand the production of its proprietary alfalfa seed varieties. The lease provides for annual escalating rental rates per acre ranging from $150 per acre per year in the first year of the lease, when 920 acres will be available for production, to $275 per acre per year in the fifth year. The full 1,240 acres will be available to the Company beginning in the second year and thereafter for the duration of the lease term and any extensions thereof. Rents are recorded on a straight-line basis over the life of the lease.

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NOTE 10 - EQUITY-BASED COMPENSATION

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 10 — EQUITY-BASED COMPENSATION

NOTE 10 — EQUITY-BASED COMPENSATION

2009 Equity Incentive Plan

In October 2009 and January 2010, the Company's Board of Directors and stockholders, respectively, approved the 2009 Equity Incentive Plan (the "2009 Plan"). The plan authorized the grant and issuance of options, restricted shares and other equity compensation to the Company's directors, employees, officers and consultants, and those of the Company's subsidiaries and parent, if any. In December 2012, the Company's Board of Directors and stockholders, respectively, approved the amendment and restatement of the 2009 Plan, including an increase in the number of shares available for issuance as grants and awards under the Plan to 1,250,000 shares.

The term of incentive stock options granted under the 2009 Plan may not exceed ten years, or five years for incentive stock options granted to an optionee owning more than 10% of the Company's voting stock. The exercise price of options granted under the 2009 Plan must be equal to or greater than the fair market value of the shares of the common stock on the date the option is granted. An incentive stock option granted to an optionee owning more than 10% of voting stock must have an exercise price equal to or greater than 110% of the fair market value of the common stock on the date the option is granted.

On October 24, 2011, the Company granted 259,500 stock options to its directors, officers, employees and certain consultants at an exercise price of $4.20, which was the closing price for the Company's common stock on the date of grant. These options vest in equal quarterly installments over one- and two-year periods, commencing on January 1, 2012, and expire five years from the date of grant.

On December 8, 2012, the Company granted 175,000 stock options to its directors, officers, and employees at an exercise price of $7.20, which was the closing price for the Company's common stock on the date of grant. These options vest in equal quarterly installments over one- and three-year periods, commencing on January 1, 2013, and expire five years from the date of grant.

On May 7, 2012, the Company issued 73,000 shares of restricted common stock to certain members of the executive management team. The restricted common shares vest annually in equal installments over a three year period, commencing one year from the date of the grant. The Company recorded $36,500 and $73,000 of stock-based compensation expense associated with this grant during the three and six months ended December 31, 2012, respectively. The value of the award was based on the closing stock price on the date of grant.

As of December 31, 2012, options to purchase 852,000 shares of common stock were outstanding and unexercised, and 73,000 restricted shares of common stock were outstanding. As of December 31, 2012 there were 325,000 shares available under the 2009 Plan for future grants and awards.

The Company has adopted ASC 718, Stock Compensation, ("ASC 718"). ASC 718 requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost will be recognized over the period during which an employee is required to provide services in exchange for the award.

The Company accounts for equity instruments, including stock options, issued to non-employees in accordance with authoritative guidance for equity-based payments to non-employees (FASB ASC 505-50). Stock options issued to non-employees are accounted for at their estimated fair value. The fair value of options granted to non-employees is re-measured as they vest.

For stock-based awards granted, the Company amortizes stock-based compensation expense on a straight-line basis over the requisite service period.

The fair value of employee option grants are estimated on the date of grant and the fair value of options granted to non-employees are re-measured as they vest. Fair value is calculated using a binomial lattice model. The weighted average assumptions used in the models are outlined in the following table:

	Employee Options		Non-Employee Options
	December 31,		December 31,
	2012	2011	2012	2011
Risk-free rate of interest	0.63%	1.10%	-	1.10%
Dividend yield	0%	0%	-	0%
Volatility of common stock	45%	63%	-	56%
Exit / attrition rates	20% - 25%	20% - 30%	-	20%
Target exercise factor	1.5 - 1.75	1.25 - 1.75	-	1.25

A summary of activity related to the Company's 2009 Plan for the year ended June 30, 2012 and six months ended December 31, 2012 is presented below:

				Weighted-
			Weighted-	Average
			Average	Remaining
	Number		Exercise Price	Contractual
	Oustanding		Per Share	Life (Years)
Outstanding at June 30, 2011	417,500		4.00	3.75
Granted	259,500		4.20	4.33
Exercised	-		-	-
Canceled/forfeited/expired	-		-	-
Outstanding at June 30, 2012	677,000		4.08	3.36
Granted	175,000		7.20	4.95
Exercised	-		-	-
Canceled/forfeited/expired	-		-	-
Outstanding at December 31, 2012	852,000	$	4.72	3.29
Options vested and exercisable at December 31, 2012	497,667	$	4.06	2.73

The weighted average grant date fair value of options granted and outstanding at December 31, 2012 was $0.81. At December 31, 2012, the Company had $291,796 of unrecognized stock compensation expense, net of estimated forfeitures, related to the options under the 2009 Plan, which will be recognized over the weighted average remaining service period of 0.8 years. At December 31, 2012, the Company had $343,341 of unrecognized stock compensation expense related to the restricted stock grants, which will be recognized over the weighted average remaining service period of 2.4 years. Stock-based compensation expense recorded for stock options and restricted stock grants for the three months ended December 31, 2012 and 2011 totaled $99,130 and $42,983, respectively. Stock-based compensation expense recorded for stock options and restricted stock grants for the six months ended December 31, 2012 and 2011 totaled $189,961 and $67,303, respectively. The Company settles employee stock option exercises with newly issued shares of common stock.

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Equity-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2012	Dec. 31, 2011
Stock-based compensation	$ 99,130	$ 42,893	$ 189,961	$ 67,303
Stock options
Weighted average grant date fair value of options granted and outstanding				$ 0.81
Unrecognized stock compensation expense, net of estimated forfeitures, related to options	291,796		291,796
Stock-based compensation, total compensation cost not yet recognized, period for recognition			0 years 9 months 22 days
Restricted Stock
Unrecognized stock compensation expense related to restricted stock grants	$ 343,341		$ 343,341
Stock-based compensation, total compensation cost not yet recognized, period for recognition			2 years 4 months 26 days

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Equity-Based Compensation (Schedule Of Stock Option Activity) (Details) (USD $)	6 Months Ended	12 Months Ended
	Dec. 31, 2012 Y	Jun. 30, 2012	Jun. 30, 2011
Equity-Based Compensation Schedule Of Stock Option Activity Details
Options, Outstanding as of beginning of period	677,000	417,500
Options, Granted	175,000	259,500
Options, Exercised	0	0
Options, Forfeited, cancelled or expired	0	0
Options, Outstanding as of end of period	852,000	677,000
Options, Vested and Exercisable at end of period	497,667
Weighted-Average Exercise Prices, Outstanding as of beginnig of period	$ 4.08	$ 4.00
Weighted-Average Exercise Prices, Granted	$ 7.20	$ 4.20
Weighted-Average Exercise Prices, Exercised	$ 0	$ 0
Weighted-Average Exercise Prices, Forfeited, cancelled or expired	$ 0	$ 0
Weighted-Average Exercise Prices, Outstanding as of end of period	$ 4.72	$ 4.08
Weighted-Average Exercise Prices, Vested and Exercisable	$ 4.06
Weighted-Average Remaining Contractual Term (in years), Vested and Exercisable	2.73
Options Outstanding, Weighted-Average Remaining Contractual Term (in years)	3.29	3.36	3.75
Options Granted, Weighted-Average Remaining Contractual Term (in years)	4.95	4.33

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Summary of Significant Accounting Policies (Inventories by Component) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Summary Of Significant Accounting Policies Inventories By Component Details
Raw materials and supplies	$ 44,746	$ 73,386
Work in progress and growing crops	959,794	4,122,506
Finished goods	2,307,327	1,920,893
Lower of cost or market reserve	(300,000)	0
Inventories	$ 3,011,867	$ 6,116,785

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Property, Plant and Equipment (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Balance Sheet Related Disclosures [Abstract]
Land and improvements	$ 6,608,157	$ 289,827
Buildings and improvements	2,021,018	2,021,018
Machinery and equipment	755,262	677,407
Vehicles	123,551	123,551
Property and equipment, gross	9,507,988	3,111,803
Less: Accumulated depreciation	(776,444)	(670,617)
Property, plant and equipment, net	$ 8,731,544	$ 2,441,186

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Summary of Significant Accounting Policies (Crop Production Costs) (Tables)

6 Months Ended

Dec. 31, 2012

Summary Of Significant Accounting Policies Crop Production Costs Tables

Crop Production Costs (Tables)

Components of crop production costs are:

		December 31,		June 30,
		2012		2012
Stevia	$	1,227,411	$	935,466
Alfalfa seed production		1,721,606		73,031
Alfalfa hay		98,986		46,067
Wheat and triticale		-		43,728
Total crop production costs	$	3,048,003	$	1,098,292

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Debt (Tables)

6 Months Ended

Dec. 31, 2012

Debt Tables

Debt Components

Total debts outstanding are presented on the balance sheet as follows:

		December 31, 2012		June 30, 2012
Current portion of long-term debt
Term loan - Wells Fargo	$	154,514	$	-
Unsecured subordinate promissory note - related party		100,000		-
Total current portion		254,514		-
Long-term debt, less current portion
Term loan - Wells Fargo		2,429,951		-
Line of credit - Wells Fargo		4,000,000		-
Unsecured subordinate promissory note - related party		400,000		-
Total long-term portion		6,829,951		-
Total debt	$	7,084,465	$	-

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Other Intangible Assets (Future Amortization) (Details) (USD $)	6 Months Ended
	Dec. 31, 2012
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2013	$ 310,661
2014	392,676
2015	392,676
2016	392,676
2017	$ 384,032

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Summary of Significant Accounting Policies (Net Income (Loss) Per Common Share Dilutive Securities) (Details)	6 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Anti-dilutive shares	1,540,000	3,610,000
Class A warrants
Anti-dilutive shares	0	1,400,000
Class B warrants
Anti-dilutive shares	1,400,000	1,400,000
Underwriter warrants
Anti-dilutive shares	140,000	280,000
Other warrants
Anti-dilutive shares	0	50,000
Stock options
Anti-dilutive shares	0	480,000

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Consolidated Statements of Stockholders' Equity (USD $)	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Total
Beginning balance, amount at Jun. 30, 2011	$ 5,800	$ 14,604,716	$ (48,252)	$ 14,562,264
Beginning balance, shares at Jun. 30, 2011	5,800,000
Stock-based compensation	0	165,363	0	165,363
Restricted stock grant to executives, shares	73,000
Restricted stock grant to executives, amount	73	21,586	0	21,659
Proceeds from equity offering net of underwriter fees and expenses, shares	1,000,000
Proceeds from equity offering net of underwriter fees and expenses, amount	1,000	5,005,311	0	5,006,311
Net income	0	0	374,835	374,835
Ending balance, amount at Jun. 30, 2012	6,873	19,796,976	326,583	20,130,432
Ending balance, shares at Jun. 30, 2012	6,873,000
Stock-based compensation		189,961
Proceeds from equity offering net of underwriter fees and expenses, shares	600,000
Proceeds from equity offering net of underwriter fees and expenses, amount	600	3,461,986
Common stock issued for acquisition, shares	400,000
Common stock issued for acquisition, amount	400	2,431,600	0	2,432,000
Common stock issued for warrant exercise, shares	100
Common stock issued for warrant exercise, amount	0	715	0	715
Net income			235,365	235,365
Ending balance, amount at Dec. 31, 2012	$ 7,873	$ 25,881,238	$ 561,948	$ 26,451,059
Ending balance, shares at Dec. 31, 2012	7,873,100

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NOTE 4 - OTHER INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2012

Notes to Financial Statements

NOTE 4 - OTHER INTANGIBLE ASSETS

NOTE 4 — OTHER INTANGIBLE ASSETS

Other intangible assets consist of the following:

		Balance at						Balance at
		July 1, 2011		Additions		Amortization		June 30, 2012
Trade name	$	210,351	$	-	$	(12,372)	$	197,979
Customer relationships		108,620		-		(6,396)		102,224
Technology/IP		183,465		-		(26,208)		157,257
Non-compete		-		43,214		(8,644)		34,570
GI customer list		-		121,786		(7,163)		114,623
	$	502,436	$	165,000	$	(60,783)	$	606,653

		Balance at						Balance at
		July 1, 2012		Additions		Amortization		December 31, 2012
Trade name	$	197,979	$	1,118,000	$	(20,161)	$	1,295,818
Customer relationships		102,224		756,333		(12,650)		845,907
Technology/IP		157,257		1,101,500		(37,250)		1,221,507
Non-compete		34,570		349,000		(21,772)		361,798
GI customer list		114,623		-		(3,582)		111,041
Supply agreement		-		1,512,667		(18,908)		1,493,759
	$	606,653	$	4,837,500	$	(114,323)	$	5,329,830

Amortization expense totaled $98,169 and $15,196 for the three months ended December 31, 2012 and 2011, respectively. Amortization expense totaled $114,323 and $30,392 for the six months ended December 31, 2012 and 2011, respectively. Estimated aggregate amortization expense for each of the five succeeding fiscal years is as follows:

		2013		2014		2015		2016		2017
Amortization expense	$	310,661	$	392,676	$	392,676	$	392,676	$	384,032

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Stockholders' Equity (Narrative) (Details) (USD $)	Dec. 31, 2012	Jun. 30, 2012
Stockholders Equity Narrative Details
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	7,873,100	6,873,000
Common stock, shares, outstanding	7,473,000	6,873,000

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Stockholders' Equity (Warrants Outstanding) (Tables)

6 Months Ended

Dec. 31, 2012

Stockholders Equity Warrants Outstanding Tables

Warrants Outstanding (Tables)

The following table summarizes the warrants outstanding:

	Grant	Warrants		Exercise Price	Expiration
	Date	Outstanding		Per Share / Unit	Date
Class A warrants	May 2010	1,399,900	$	7.15	May 2015
Class B warrants	May 2010	1,400,000	$	11.00	May 2015
Underwriter warrants - units	May 2010	140,000	$	13.20	May 2015
Other warrants	May 2010	50,000	$	4.00	May 2015
Underwriter warrants	May 2012	50,000	$	6.88	Feb 2017
		3,039,900

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Summary of Significant Accounting Policies (Property, Plant and Equipment Useful Life Narrative) (Details)	6 Months Ended
	Dec. 31, 2012 Y
Buildings
Property, Plant and Equipment, Useful Life, Minimum	18
Property, Plant and Equipment, Useful Life, Maximum	28
Machinery and Equipment
Property, Plant and Equipment, Useful Life, Minimum	3
Property, Plant and Equipment, Useful Life, Maximum	7
Vehicles
Property, Plant and Equipment, Useful Life, Minimum	3
Property, Plant and Equipment, Useful Life, Maximum	5

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Summary of Significant Accounting Policies (Inventories) (Tables)

6 Months Ended

Dec. 31, 2012

Summary Of Significant Accounting Policies Inventories Tables

Inventories (Tables)

Components of inventory are:

		December 31,		June 30,
		2012		2012
Raw materials and supplies	$	44,746	$	73,386
Work in progress and growing crops		959,794		4,122,506
Finished goods		2,307,327		1,920,893
Lower of cost or market reserve		(300,000)		-
	$	3,011,867	$	6,116,785