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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Sales        
Net sales $ 42,826,589 $ 43,738,971 $ 77,266,037 $ 81,004,048
Cost of goods sold        
Cost of goods sold 35,550,504 36,186,572 63,198,242 66,414,271
Gross profit 7,276,085 7,552,399 14,067,795 14,589,777
Operating expenses        
Selling expenses 3,185,204 2,944,641 6,681,075 7,361,235
General and administrative expenses 32,418,068 43,149,969 48,813,393 74,098,894
Total operating expenses 35,603,272 46,094,610 55,494,468 81,460,129
(Loss) from operations (28,327,187) (38,542,211) (41,426,673) (66,870,352)
Other income (expense)        
Other (expense) 462,076 (48,987) 459,231 (57,467)
Interest income 31,219 20,836 76,600 43,219
Interest expense (66,419) (67,185) (138,518) (123,953)
Total other (expense) 426,876 (95,336) 397,313 (138,201)
(Loss) from continuing operations before income taxes (27,900,310) (38,637,547) (41,029,361) (67,008,554)
Provision for income taxes 516,981 1,435,825 629,004 2,951,140
(Loss) from continuing operations (28,417,291) (40,073,372) (41,658,365) (69,959,694)
Net income (loss) from discontinued operations, net of taxes (3,565,645) 36,708 (5,401,779) (1,029,883)
Net (loss) (31,982,936) (40,036,664) (47,060,144) (70,989,577)
Other comprehensive income (loss)        
Foreign currency translation gain (loss) 3,262,613 11,927,692 3,719,187 25,395,536
comprehensive income (loss) $ (28,720,323) $ (28,108,971) $ (43,340,957) $ (45,594,041)
Basic weighted average shares outstanding (in Shares) 8,487,629 6,350,129 8,487,629 6,350,129
Basic net earnings per share – from continuing operations (in Dollars per share) $ (3.35) $ (6.31) $ (4.91) $ (11.02)
Basic net earnings per share – from discontinued operations (in Dollars per share) (0.42) 0.01 (0.64) (0.16)
Basic net earnings per share (in Dollars per share) $ (3.77) $ (6.3) $ (5.54) $ (11.18)
Diluted weighted average shares outstanding (in Shares) 8,487,629 6,350,129 8,487,629 6,350,129
Diluted net earnings per share– from continuing operations (in Dollars per share) $ (3.35) $ (6.31) $ (4.91) $ (11.02)
Diluted net earnings per share – from discontinued operations (in Dollars per share) $ (0.42) $ 0.01 $ (0.64) $ (0.16)
Jinong        
Sales        
Net sales $ 14,966,519 $ 14,901,875 $ 30,128,261 $ 29,431,187
Cost of goods sold        
Cost of goods sold 10,990,616 10,921,417 22,082,927 21,606,881
Gufeng        
Sales        
Net sales 21,573,414 22,436,394 36,361,666 38,264,597
Cost of goods sold        
Cost of goods sold 19,144,888 19,846,423 32,002,150 33,824,240
Yuxing        
Sales        
Net sales 2,819,203 2,682,195 5,708,097 5,105,683
Cost of goods sold        
Cost of goods sold 2,374,221 2,140,856 4,763,688 4,182,928
VIEs - others        
Sales        
Net sales 3,467,453 3,718,507 5,068,013 8,202,581
Cost of goods sold        
Cost of goods sold $ 3,040,779 $ 3,277,876 $ 4,349,477 $ 6,800,222