Segment Reporting

3 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

The Company is 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 (expense) and net income (loss) 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 (loss) by segment.

	Three Months Ended September 30,
Revenues from unaffiliated customers:	2020			2019
Jinong	$	14,529,312		$	19,054,816
Gufeng		15,828,203			16,323,217
Yuxing		2,423,488			2,539,711
Sales VIEs		11,377,229			12,903,827
Consolidated	$	44,158,232		$	50,821,571
Operating income (expense):
Jinong	$	1,758,677		$	578,043
Gufeng		(31,136,234	)		(11,500,258
Yuxing		137,213			154,678
Sales VIEs		351,837			4,293,317
Reconciling item (1)		-			-
Reconciling item (2)		(455,876	)		(338,680	)
Consolidated	$	(29,344,383	)	$	(6,812,900	)
Net income (loss):
Jinong	$	1,518,043		$	524,101
Gufeng		(31,193,670	)		(11,511,954	)
Yuxing		136,909			154,555
Sales VIEs		(31,272	)		3,868,486
Reconciling item (1)		-			6
Reconciling item (2)		(1,370,374	)		(338,680	)
Reconciling item (3)		(12,550	)		(12,315	)
Consolidated	$	(30,095,914	)	$	(7,315,800	)
Depreciation and Amortization:
Jinong	$	192,578		$	191,078
Gufeng		305,111			520,335
Yuxing		298,796			295,654
Sales VIEs		123,949			181,123
Consolidated	$	920,432		$	1,188,190
Interest expense:
Jinong		-			6,412
Gufeng		56,768			70,789
Sales VIEs		-			1
Consolidated	$	56,768		$	77,202
Capital Expenditure:
Jinong	$	3,667		$	4,578
Gufeng		17,445			-
Yuxing		-			6,823
Consolidated	$	21,112		$	11,401

	As of
	September 30,			June 30,
	2020			2020
Identifiable assets:
Jinong	$	89,802,390		$	83,055,679
Gufeng		189,881,663			213,038,203
Yuxing		35,894,886			34,310,053
Sales VIEs		48,594,814			44,715,491
Reconciling item (1)		(34,249,503	)		(33,157,364	)
Reconciling item (2)		166,121			166,121
Consolidated	$	330,090,371		$	342,128,183

(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.