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Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Sales        
Net sales $ 49,565,009 $ 52,254,463 $ 100,386,580 $ 110,209,269
Cost of goods sold        
Cost of goods sold 40,744,524 40,010,238 78,406,848 81,495,404
Gross profit 8,820,485 12,244,225 21,979,732 28,713,865
Operating expenses        
Selling expenses 3,856,972 8,069,103 7,487,327 11,489,530
General and administrative expenses 32,761,531 (99,632) 49,103,323 2,209,728
Total operating expenses 36,618,503 7,969,471 56,590,650 13,699,258
Income from operations (27,798,018) 4,274,754 (34,610,918) 15,014,607
Other income (expense)        
Other income (expense) (73,263) (187,753) (103,454) (226,083)
Interest income 53,262 95,957 106,886 223,341
Interest expense (87,496) (149,578) (164,698) (312,264)
Total other income (expense) (107,497) (241,374) (161,266) (315,006)
Income before income taxes (27,905,515) 4,033,380 (34,772,183) 14,699,601
Provision for income taxes (824,635) 1,527,645 (375,504) 3,182,061
Net income (27,080,880) 2,505,735 (34,396,679) 11,517,540
Other comprehensive income (loss)        
Foreign currency translation gain (loss) 10,330,982 (472,069) (7,036,503) (16,459,861)
Comprehensive income (loss) $ (16,749,898) $ 2,033,666 $ (41,433,182) $ (4,942,321)
Basic weighted average shares outstanding 5,474,979 3,295,579 4,989,745 3,295,579
Basic net earnings per share $ (4.95) $ 0.76 $ (6.89) $ 3.49
Diluted weighted average shares outstanding 5,474,979 3,295,579 4,989,745 3,295,579
Diluted net earnings per share $ (4.95) $ 0.76 $ (6.89) $ 3.49
Jinong        
Sales        
Net sales $ 14,521,485 $ 16,987,360 $ 33,576,301 $ 39,483,893
Cost of goods sold        
Cost of goods sold 10,127,892 8,994,882 20,620,422 20,198,054
Gufeng        
Sales        
Net sales 22,266,549 22,355,690 38,589,766 39,828,941
Cost of goods sold        
Cost of goods sold 19,755,967 19,764,817 34,209,975 35,069,680
Yuxing        
Sales        
Net sales 2,461,510 2,623,493 5,001,221 5,011,039
Cost of goods sold        
Cost of goods sold 2,110,321 2,166,566 4,162,317 4,213,729
VIEs - others        
Sales        
Net sales 10,315,465 10,287,920 23,219,292 25,885,396
Cost of goods sold        
Cost of goods sold $ 8,750,344 $ 9,083,973 $ 19,414,134 $ 22,013,941