Variable Interest Entities

3 Months Ended

Sep. 30, 2025

Variable Interest Entities [Abstract]

VARIABLE INTEREST ENTITIES

NOTE 16 – VARIABLE INTEREST ENTITIES

In accordance with accounting standards regarding consolidation of variable interest entities, VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision-making ability. All VIEs with which a company is involved must be evaluated to determine the primary beneficiary of the risks and rewards of the VIE. The primary beneficiary is required to consolidate the VIE for financial reporting purposes.

Green Nevada through one of its subsidiaries, Jinong, entered into a series of agreements (the “VIE Agreements”) with Yuxing for it to qualify as a VIE, effective June 16, 2013.

The Company has concluded, based on the contractual arrangements, that Yuxing is a VIE and that the Company’s wholly owned subsidiary, Jinong, absorbs most of the risk of loss from the activities of Yuxing, thereby enabling the Company, through Jinong, to receive a majority of Yuxing expected residual returns.

On June 30, 2016 and January 1, 2017, the Company, through its wholly owned subsidiary Jinong, entered into strategic acquisition agreements and into a series of contractual agreements to qualify as VIEs with the shareholders of the sales VIE Companies.

Jinong, the sales VIE Companies, and the shareholders of the sales VIE Companies also entered into a series of contractual agreements for the sales VIE Companies to qualify as VIEs (the “VIE Agreements”).

On November 30, 2017, the Company, through its wholly owned subsidiary Jinong, exit the VIE agreements with the shareholders of Zhenbai.

On June 2, 2021, the Company, through its wholly owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Xindeguo, Xinyulei and Xiangrong.

On December 1, 2021, the Company, through its wholly owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Lishijie.

On December 31, 2021, the Company, through its wholly owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Fengnong.

On March 31, 2022, the Company, through its wholly owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Jinyangguang and Wangtian.

As a result of these contractual arrangements, with Yuxing and the sales VIE Companies the Company is entitled to substantially all the economic benefits of Yuxing and the VIE Companies. The following financial statement amounts and balances of the VIE (Yuxing) were included in the accompanying consolidated financial statements as as of September 30, 2025 and June 30, 2025:

	September 30,			June 30,
	2025			2025
ASSETS
Current assets
Cash and cash equivalents	$	251,102		$	486,536
Accounts receivable, net		488,699			563,465
Inventories		26,540,647			26,163,756
Inter co trans		4,775,991			4,746,409
Other current assets		268,721			110,264
Total current assets		32,325,160			32,070,430
Non-current assets
Plant, property and equipment, net		4,989,044			5,087,738
Intangible assets, net		6,972,961			6,980,851
Total non-current assets		11,962,005			12,068,589
Total assets	$	44,287,165		$	44,139,019
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable	$	12,754		$	12,675
Customer deposits		425,274			673,533
Accrued expenses and other payables		217,521			214,657
Amount due to related parties		40,850,729			40,262,687
Short-term loan		2,738,970			488,565
Total current liabilities		44,245,248			41,652,117
Non-current liabilities
Long-term loan		1,685,520			4,187,700
Total non-current liabilities		1,685,520			4,187,700
Total liabilities	$	45,930,768		$	45,839,817
Stockholders’ equity		(1,643,603	)		(1,700,798	)
Total Liabilities and stockholders’ equity	$	44,287,165		$	44,139,019

	Three Months Ended September 30,
	2025		2024
Revenue	$	2,450,597	$	2,340,443
Expenses		2,383,161		2,117,621
Net income	$	67,436	$	222,822