Segment Reporting

9 Months Ended

Mar. 31, 2022

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			Three Months Ended			Nine Months Ended			Nine Months Ended
	March 31, 2022			March 31, 2021			March 31, 2022			March 31, 2021
Revenues from unaffiliated customers:
Jinong	$	13,385,022		$	15,818,610		$	43,513,283		$	45,249,797
Gufeng		45,205,467			48,438,434			81,567,133			86,703,031
Yuxing		2,548,383			3,055,588			8,256,480			8,161,271
Sales VIEs		-			-			-			-
Consolidated	$	61,138,872		$	67,312,632		$	133,336,896		$	140,114,099
Operating income (loss):
Jinong	$	(5,300,141	)	$	(4,562,066	)	$	(11,587,451	)	$	(9,626,306	)
Gufeng		(26,737,974	)		(11,120,630	)		(56,636,587	)		(71,940,923	)
Yuxing		143,158			174,453			460,517			462,879
Reconciling item (1)		-			-			-			-
Reconciling item (2)		(78,453	)		(381,561	)		(579,382	)		(1,351,629	)
Consolidated	$	(31,973,410	)	$	(15,889,804	)	$	(68,342,903	)	$	(82,455,979	)
Net income (loss):
Jinong	$	(5,243,617	)	$	(4,546,023	)	$	(11,449,612	)	$	(9,836,830	)
Gufeng		(26,790,346	)		(11,179,039	)		(56,904,522	)		(72,188,675	)
Yuxing		204,488			174,804			601,492			479,363
Reconciling item (1)		946			5			951			7
Reconciling item (2)		(78,454	)		(287,609	)		(1,166,578	)		(3,534,468	)
Reconciling item (3)		1,311,304			(181	)		1,762,866			(13,008	)
Consolidated	$	(30,595,680	)	$	(15,838,043	)	$	(67,155,404	)	$	(85,093,611	)
Depreciation and Amortization:
Jinong	$	211,645		$	206,810		$	629,332		$	601,680
Gufeng		207,187			326,677			617,578			935,344
Yuxing		324,846			318,190			968,799			928,761
Consolidated	$	743,677		$	851,677		$	2,215,708		$	2,465,785
Interest expense:
Jinong		-			-			-			-
Gufeng		65,278			57,316			203,707			181,269
Yuxing		-			-			-			-
Consolidated	$	65,278		$	57,316		$	203,707		$	181,269
Capital Expenditure:
Jinong	$	8,139		$	2,020		$	29,411		$	59,068
Gufeng		121			38,380			29,542			74,133
Yuxing		854			106,540			33,978			106,540
Consolidated	$	9,115		$	146,941		$	92,931		$	239,742

	As of
	March 31,			June 30,
	2022			2021
Identifiable assets:
Jinong	$	107,536,195		$	85,585,344
Gufeng		107,380,389			130,346,782
Yuxing		42,146,255			38,516,348
Sales VIEs		-			43,862,592
Reconciling item (1)		(11,781,851	)		(31,748,448	)
Reconciling item (2)		166,121			166,121
Consolidated	$	245,447,108		$	266,728,738

(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) The comparative numbers are excluding discontinued entities