Segment Reporting

3 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 14 – SEGMENT REPORTING

As of September 30, 2018, the Company was organized into four main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), Yuxing (agricultural products production) and the sales VIEs. 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 September 30,
Revenues from unaffiliated customers:	2018			2017
Jinong	$	22,496,533		$	26,773,760
Gufeng		17,473,251			18,222,066
Yuxing		2,387,546			1,792,643
Sales VIEs		15,597,474			15,340,182
Consolidated	$	57,954,804		$	62,128,651
Operating income:
Jinong	$	6,928,090		$	6,766,075
Gufeng		1,609,052			2,106,213
Yuxing		193,177			175,473
Sales VIEs		2,631,299			(1,808,652	)
Reconciling item (1)		-			2
Reconciling item (2)		(621,764	)		(198,019	)
Consolidated	$	10,739,854		$	6,791,658
Net income:
Jinong	$	5,900,016		$	5,741,090
Gufeng		1,120,344			1,489,067
Yuxing		193,178			175,622
Sales VIEs		2,420,029			(2,070,864
Reconciling item (1)		2			2
Reconciling item (2)		(621,766	)		(198,019	)
Consolidated	$	9,011,805		$	5,052,758
Depreciation and Amortization:
Jinong	$	198,258		$	853,743
Gufeng		536,619			547,757
Yuxing		304,818			312,519
Sales VIEs		186,806			186,606
Consolidated	$	1,226,500		$	1,900,626
Interest expense:
Jinong		69,442			70,836
Gufeng		93,122			104,723
Sales VIEs		123			4,016
Consolidated	$	162,686		$	179,575
Capital Expenditure:
Jinong	$	3,036		$	3,341
Gufeng		26,988			13,868
Yuxing		1,249			-
Consolidated	$	31,273		$	17,209

	As of
	September 30,			June 30,
	2018			2018
Identifiable assets:
Jinong	$	224,480,929		$	226,335,489
Gufeng		160,920,365			168,572,947
Yuxing		-			-
Sales VIEs		83,654,118			87,567,782
Reconciling item (1)		582,901			512,622
Reconciling item (2)		(2,879	)		(2,879	)
Consolidated	$	469,635,433		$	482,985,960

(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.