Segment Reporting

12 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

As of June 30, 2023, 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 Antaeus (bitcoin). 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,
	2023			2022
Revenues from unaffiliated customers:
Jinong	$	40,247,303		$	54,339,228
Gufeng		74,028,542			102,755,286
Yuxing		9,654,168			11,356,390
Antaeus		210,342			-
Consolidated	$	124,140,355		$	168,450,904
Operating income (expense):
Jinong	$	(4,411,893	)	$	(3,466,631	)
Gufeng		(6,062,353	)		(80,233,988	)
Yuxing		499,479			581,840
Antaeus		(465,560	)
Reconciling item (1)		-			-
Reconciling item (2)		(3,173,033	)		(679,326	)
Consolidated	$	(13,613,360	)	$	(83,798,104	)

Net income (loss):
Jinong	$	(4,224,927	)		(3,063,634	)
Gufeng		(6,280,625	)		(80,547,966	)
Yuxing		763,512			722,936
Antaeus		(367,988	)		-
Reconciling item (1)		1,077			4,513
Reconciling item (2)		(3,173,034	)		612,503
Reconciling item (3)	$	-		$	1,748,951
Consolidated	$	(13,281,985	)	$	(80,522,696	)
Depreciation and Amortization:
Jinong	$	785,503		$	833,042
Gufeng		761,466			816,510
Yuxing		839,514			1,280,938
Antaeus		16,667			-
Consolidated	$	2,403,150		$	2,930,490
Interest expense:
Jinong		78,342			-
Gufeng		217,462			256,784
Yuxing		-			-
Antaeus		-			-
Consolidated	$	295,804		$	256,784
Capital Expenditure:
Jinong	$	52,664		$	97,900
Gufeng		216,892			29,308
Yuxing		101,837			37,069
Antaeus		1,000,000			-
Consolidated	$	1,371,393		$	164,278

	As of
	June 30,		June 30,
	2023		2022
Identifiable assets:
Jinong	$	87,862,836	$	100,958,241
Gufeng		49,749,041		80,923,101
Yuxing		38,223,482		40,132,337
Antaeus		3,292,247		-
Reconciling item (1)		7,387,637		(27,064,606	)
Reconciling item (2)		166,121		166,121
Consolidated	$	186,681,364	$	195,115,195

(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 gain on discontinuing sales VIEs and the intercompany transaction clearing.

Total revenues from exported products currently accounted for less than 1% of the Company’s total fertilizer revenues for the years ended June 30, 2023 and 2022, respectively.