v2.4.0.8

SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2014
Segment Reporting [Abstract] |
Schedule Of Segment Reporting Information, By Segment [Table Text Block] |
For the six months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |  |
June 30, 2014 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 16,793,595 |  | $ | 15,159,046 |  | $ | 583,567 |  |  |  | $ | 32,536,208 |
Loss on inventory valuation reserve |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intersegment revenues |  |  | - |  |  | - |  |  | - |  | - |  |  | - |
Interest revenue |  |  | 1,196 |  |  | 525 |  |  | 150 |  | 87 |  |  | 1,959 |
Interest expense |  |  | (210,244) |  |  | (180,001) |  |  | - |  | (438) |  |  | (390,682) |
Net interest (expense) income |  |  | (209,048) |  |  | (179,476) |  |  | 150 |  | (350) |  |  | (388,723) |
Depreciation and amortization |  |  | (290,267) |  |  | (755,118) |  |  | (2,326) |  | (101,886) |  |  | (1,149,597) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  | 307 |  |  | 307 |
Segment net profit (loss) |  |  | (9,501,165) |  |  | (693,669) |  |  | (747,339) |  | (1,260,412) |  |  | (12,202,585) |
For the three months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |  |  |
June 30, 2014 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 8,463,058 |  | $ | 8,499,830 |  | $ | - |  | $ | - |  | $ | 16,962,888 |
Loss on inventory valuation reserve |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Intersegment revenues |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Interest revenue |  |  | 502 |  |  | 312 |  |  | 33 |  |  | 32 |  |  | 879 |
Interest expense |  |  | (105,193) |  |  | (89,620) |  |  | - |  |  | (216) |  |  | (195,029) |
Net interest (expense) income |  |  | (104,692) |  |  | (89,308) |  |  | 33 |  |  | (185) |  |  | (194,151) |
Depreciation and amortization |  |  | (141,695) |  |  | (353,533) |  |  | (1,150) |  |  | (50,573) |  |  | (546,951) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  |  | 148 |  |  | 148 |
Segment net profit (loss) |  |  | (1,756,995) |  |  | (436,142) |  |  | (68,550) |  |  | (624,840) |  |  | (2,866,527) |
For the six months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |  |  |
June 30, 2013 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 71,123,730 |  | $ | 22,739,314 |  | $ | 46,914,771 |  | $ | - |  | $ | 140,777,815 |
Loss on inventory valuation reserve |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intersegment revenues |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Interest revenue |  |  | 5,999 |  |  | 2,089 |  |  | 5,300 |  |  | 284 |  |  | 13,672 |
Interest expense |  |  | (209,503) |  |  | (142,556) |  |  | (51,222) |  |  |  |  |  | (403,281) |
Net interest (expense) income |  |  | (203,504) |  |  | (140,467) |  |  | (45,922) |  |  | 284 |  |  | (389,609) |
Depreciation and amortization |  |  | (259,086) |  |  | (830,360) |  |  | (1,856) |  |  | (104,420) |  |  | (1,195,722) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  |  | 3,804 |  |  | 3,804 |
Segment net profit (loss) |  |  | 539,287 |  |  | 1,748,091 |  |  | 607,715 |  |  | (3,633,689) |  |  | (738,596) |
For the three months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |  |  |
June 30, 2013 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 35,697,746 |  | $ | 10,378,212 |  | $ | 17,534,143 |  | $ | - |  | $ | 63,610,101 |
Loss on inventory valuation reserve |  |  | - |  |  | - |  |  |  |  |  |  |  |  | - |
Intersegment revenues |  |  |  |  |  | - |  |  | - |  |  | - |  |  |  |
Interest revenue |  |  | 2,225 |  |  | 1,354 |  |  | 1,939 |  |  | 54 |  |  | 5,572 |
Interest expense |  |  | (124,226) |  |  | (78,198) |  |  | (25,153) |  |  | - |  |  | (227,577) |
Net interest (expense) income |  |  | (122,001) |  |  | (76,844) |  |  | (23,214) |  |  | 54 |  |  | (222,005) |
Depreciation and amortization |  |  | (137,237) |  |  | (395,211) |  |  | (1,164) |  |  | (62,695) |  |  | (596,307) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  |  | 185 |  |  | 185 |
Segment net profit (loss) |  |  | (1,389,995) |  |  | 565,116 |  |  | (357,732) |  |  | (2,771,473) |  |  | (3,954,084) |
Schedule Of Revenue By Major Customers By Reporting Segments [Table Text Block] | The following tables set forth our three major customers in each segment:
|  | For the Six Months Ended |
|  | June 30, |
Corn Division : |  | 2014 |  |  | 2013
ShuangliuZhengda Co., Ltd. |  | 8.6 | % |  | 3.5 | %
Guangdong Wen’s poultry Co., Ltd. |  | 5.5 | % |  | 0.9 | %
Chengdu Golden bean Animal Nutrition Food Co., Ltd. |  | 3.6 | % |  | 4.2 | %
Top Three Customers as % of Total Gross Sales: |  | 17.7 | % |  | 8.6 | %
Grain Division : |  |  |  |  |  |
Deyufang Innovation Food (Beijing) Co., Ltd. |  | 71.3 | % |  | 48.3 | %
Ethical Food SA |  | 14.1 | % |  | 0.0 | %
YuciKaiwang Grain and oil wholesale Department |  | 1.0 | % |  | 0.0 | %
Top Three Customers as % of Total Gross Sales |  | 86.4 | % |  | 48.3 | %
Bulk Trading Division : |  |  |  |  |  |
Shanxi Helifeihua Trading Co., Ltd. |  | 48.3 | % |  | 12.3 | %
Shenzhen XinJiawang Agricultural By-products development Co. Ltd. |  | 25.3 | % |  | 4.2 | %
YuchiKaiwang Grain and Oil Wholesale Department |  | 19.0 | % |  | 7.7 | %
Top Three Customers as % of Total Gross Sales: |  | 92.6 | % |  | 24.4 | %

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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