XML 43 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
REVENUES      
Total revenues $ 110,551,502 $ 99,079,267 $ 101,104,224
COST OF REVENUES      
Total cost of revenues 103,373,524 90,429,027 91,452,753
GROSS PROFIT 7,177,978 8,650,240 9,651,471
OPERATING EXPENSES:      
Selling 794,193 550,574 708,531
General and administrative 4,167,587 1,277,820 981,347
Provision for doubtful accounts 770,192 743,986 918,940
Stock compensation expense 930,223    
Total operating expenses 6,662,195 2,572,380 2,608,818
INCOME FROM OPERATIONS 515,783 6,077,860 7,042,653
OTHER INCOME (EXPENSE)      
Interest income 3,048 2,163 388,781
Interest expense (1,673,563) (730,780) (1,282,291)
Other finance expenses (417,549) (118,394) (141,284)
Other (expense) income, net (89,405) 9,012 (18,596)
Provision for doubtful accounts - security deposit (718,437)    
Provision for doubtful accounts - loan receivable 0 0 (1,506,778)
Total other income, net (2,895,906) (837,999) (2,560,168)
(LOSS) INCOME BEFORE INCOME TAXES (2,380,123) 5,239,861 4,482,485
PROVISION FOR INCOME TAXES 223,173 213,649 714,376
Net (loss) income from continuing operations (2,603,296) 5,026,212 3,768,109
NET LOSS FROM DISCONTINUED OPERATIONS (1,796,237) (662,621) 0
NET (LOSS) INCOME (4,399,533) 4,363,591 3,768,109
Less: Net income attributable to non-controlling interest from continuing operations 477,409    
NET (LOSS) INCOME ATTRIBUTABLE TO CHINA XIANGTAI FOOD CO., LTD. (4,876,942) 4,363,591 3,768,109
Net income (loss) (4,399,533) 4,363,591 3,768,109
OTHER COMPREHENSIVE INCOME (LOSS)      
Foreign currency translation adjustment (559,320) (267,546) 133,553
Foreign currency translation adjustment (559,320) (267,546) 133,553
TOTAL COMPREHENSIVE (LOSS) INCOME (4,958,853) 4,096,045 3,901,662
Less: Comprehensive income attributable to non-controlling interests from continuing operations 465,736    
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO CHINA XIANGTAI FOOD CO., LTD. $ (5,424,589) $ 4,096,045 $ 3,901,662
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES      
Basic 22,417,524 20,319,723 20,000,000
Diluted 22,417,524 20,944,951 20,083,151
(LOSS) EARNINGS PER SHARE - BASIC      
Continuing operations $ (0.14) $ 0.24 $ 0.19
Discontinued operations (0.08) (0.03)  
(LOSS) EARNINGS PER SHARE - DILUTED      
Continuing operations (0.14) 0.24 $ 0.19
Discontinued operations $ (0.08) $ (0.03)  
Supermarket and grocery store      
REVENUES      
Total revenues $ 5,827,319 $ 3,856,358 $ 3,750,904
COST OF REVENUES      
Total cost of revenues 4,961,552 3,256,439 3,193,830
Farmers' market      
REVENUES      
Total revenues 80,473,936 95,222,909 97,353,320
COST OF REVENUES      
Total cost of revenues 76,192,444 $ 87,172,588 $ 88,258,923
Feed raw material      
REVENUES      
Total revenues 24,250,247    
COST OF REVENUES      
Total cost of revenues $ 22,219,528