Segment Reporting

6 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 13 - SEGMENT REPORTING

As of December 31, 2016, the Company was organized into four main business segments based on location and product, including fertilizer production with Jinong, fertilizer production with Gufeng , agricultural products production with Yuxing and distribution of agricultural products with the acquisition of the VIE Companies completed as of June 30, 2016. Each of the four operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) receives financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems to make decisions about allocating resources and assessing performance; however, the principal measure of segment profitability or loss used by the CODM is net income by segment

	Three Months Ended December 31,						Six Months Ended December 31,
Revenues from unaffiliated customers:	2016			2015			2016			2015
Jinong	$	26,825,674		$	31,302,561		$	58,253,394		$	66,010,365
Gufeng		21,066,559			23,579,674			36,876,073			41,814,506
Yuxing		2,454,314			2,083,765			3,809,725			3,325,400
VIES		8,398,466			-			21,690,443			-
Consolidated	$	58,745,013		$	56,966,000		$	120,629,635		$	111,150,271
Operating income :
Jinong	$	5,740,784		$	3,698,620		$	12,120,004		$	11,654,274
Gufeng		1,906,816			3,052,879			2,991,899			5,662,832
Yuxing		330,780			511,213			487,810			917,510
VIES		637,284			-			2,440,764			-
Reconciling item (1)		-			-			-			-
Reconciling item (2)		-			297,606			-			(219,754	)
Reconciling item (2)--stock compensation		(1,510,148	)		(1,780,587	)		(1,856,270	)		(2,857,081	)
Consolidated	$	7,105,516		$	5,779,731		$	16,184,207		$	15,157,781
Net income:
Jinong	$	4,849,485		$	3,187,514		$	10,195,773		$	10,000,365
Gufeng		1,268,439			2,049,897			1,984,925			3,670,264
Yuxing		330,509			513,099			487,589			919,384
VIES		567,726			-			2,045,574			-
Reconciling item (1)		-			5			-			29
Reconciling item (2)		(1,510,148	)		(1,477,980	)		(1,856,270	)		(3,076,835	)
Consolidated	$	5,506,011		$	4,272,535		$	12,857,591		$	11,513,207
Depreciation and Amortization:
Jinong	$	3,675,142		$	9,358,107		$	9,988,231		$	19,292,089
Gufeng		631,041			728,466			1,258,350			1,474,061
Yuxing		306,210			336,433			620,126			679,741
VIES		123,070			-			249,202			-
Consolidated	$	4,735,463		$	10,423,006		$	12,115,909		$	21,445,891
Interest expense:
Jinong		55,979			-			113,352			-
Gufeng		58,306			302,644			118,439			731,679
Consolidated	$	114,285		$	302,644		$	231,791		$	731,679
Capital Expenditure:
Jinong	$	571		$	6,643		$	1,793		$	6,643
Gufeng		556			-			4,999			1,770
Yuxing		-			6,449			548			7,252
VIES		-			-			-			-
Consolidated	$	1,127		$	13,092		$	7,340		$	15,665

	As of
	December 31,			June 30,
	2016			2016
Identifiable assets:
Jinong	$	194,544,513		$	198,599,977
Gufeng		143,819,547			149,891,328
Yuxing		41,925,427			45,448,157
VIES June 30, 2016		23,666,211			24,675,499
Reconciling item (1)		23,487			170,444
Reconciling item (2)		(2,878	)		(2,878	)
Consolidated	$	403,976,307		$	418,782,527

(1)    Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2)    Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.