Segment Reporting

12 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 16 – SEGMENT REPORTING

As of June 30, 2021, 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.

	Years Ended June 30,
	2021			2020
Revenues from unaffiliated customers:
Jinong	$	59,409,169		$	57,001,659
Gufeng		110,834,918			119,623,964
Yuxing		11,038,666			9,227,113
Sales VIEs		50,125,904			43,575,376
Consolidated	$	231,408,657		$	229,428,112
Operating income (expense):
Jinong	$	(20,314,442	)	$	(18,249,504	)
Gufeng		(98,976,802	)		(117,826,339	)
Yuxing		622,636			413,226
Sales VIEs		6,751,528			(704,194	)
Reconciling item (1)		-			-
Reconciling item (2)		(1,830,382	)		(1,555,269	)
Consolidated	$	(113,747,462	)	$	(137,922,080	)

Net income (loss):
Jinong	$	(20,482,770	)		(15,422,166	)
Gufeng		(99,310,549	)		(88,682,298	)
Yuxing		639,313			425,957	)
Sales VIEs		4,629,663			(1,355,244	)
Reconciling item (1)		13			19
Reconciling item (2)		(4,529,952	)		(1,555,269	)
Reconciling item (3)	$	483,164		$	(33,671,884	)
Consolidated	$	(118,571,119	)	$	(140,260,884	)
Depreciation and Amortization:
Jinong	$	809,559		$	760,535
Gufeng		1,202,230			2,070,861
Yuxing		1,249,414			1,179,144
Sales VIEs		552,927			687.942
Consolidated	$	3,814,131		$	4,698.482
Interest expense:
Jinong		-			25,593
Gufeng		266,304			278,373
Yuxing		-			-
Sales VIEs		202			105
Consolidated	$	266,506		$	304,071
Capital Expenditure:
Jinong	$	59,916		$	50,625
Gufeng		75,983			4,448
Yuxing		108,732			27,794
Sales VIEs		24,168			14,617
Consolidated	$	268,800		$	97,483

	As of
	June 30,			June 30,
	2021			2020
Identifiable assets:
Jinong	$	85,585,344		$	83,055,679
Gufeng		130,346,782			213,038,203
Yuxing		38,516,348			34,310,053
Sales VIEs		43,862,592			35,508,422
Reconciling item (1)		(31,748,448	)		(23,950,294	)
Reconciling item (2)		166,121			166,121
Consolidated	$	266,728,738		$	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.

(3) Reconciling amounts refer to the loss on discontinuing sales VIE of Shenqiu Zhenbai.

Total revenues from exported products currently accounted for less than 1% of the Company’s total fertilizer revenues for the years ended June 30, 2021 and 2020, respectively.