v2.4.1.9

SEGMENT REPORTING | 3 Months Ended
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Mar. 31, 2015
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | NOTE 16. SEGMENT REPORTING The Company defined reportable segments according to ASC Topic 280. The segments, including Corn Division, Grain Division and Bulk Trading Division, are identified primarily based on the structure of allocating resources and assessing performance of the group. The Corn Division is in the business of purchasing corn from farmers, simple processing and distributing to agricultural product trading companies through wholesale. The business of the Grain Division is conducted by processing and distributing grains and other products. The business of the Bulk Trading Division is conducted by bulk purchasing and the sale of raw grain.
For the three months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |  |  |
March 31, 2015 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 25,458,653 |  | $ | 6,749,394 |  | $ | - |  |  |  |  | $ | 32,208,047 |
Loss on inventory valuation reserve |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Intersegment revenues |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Interest revenue |  |  | 1,780 |  |  | 559 |  |  | - |  |  | 54 |  |  | 2,393 |
Interest expense |  |  | (100,103) |  |  | (87,868) |  |  | - |  |  | - |  |  | (187,972) |
Net interest (expense) income |  |  | (98,323) |  |  | (87,309) |  |  | - |  |  | 54 |  |  | (185,578) |
Depreciation and amortization |  |  | (133,973) |  |  | (348,696) |  |  | (1,106) |  |  | (48,814) |  |  | (532,589) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  |  | 36 |  |  | 36 |
Segment net profit (loss) |  |  | (2,025,927) |  |  | 52,521 |  |  | (3,617) |  |  | (414,356) |  |  | (2,391,379) |
For the three months ended |  | Corn |  | Grain |  | Bulk Trading |  |  |  |  |
March 31, 2014 |  | Division |  | Division |  | Division |  | Others |  | Total |
Revenues from external customers |  | $ | 8,330,537 |  | $ | 6,652,924 |  | $ | 589,859 |  |  | - |  | $ | 15,573,320 |
Loss on inventory valuation reserve |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Intersegment revenues |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Interest revenue |  |  | 694 |  |  | 214 |  |  | 117 |  |  | 55 |  |  | 1,080 |
Interest expense |  |  | (105,050) |  |  | (90,382) |  |  | - |  |  | (221) |  |  | (195,653) |
Net interest (expense) income |  |  | (104,356) |  |  | (90,168) |  |  | 117 |  |  | (166) |  |  | (194,573) |
Depreciation and amortization |  |  | (148,572) |  |  | (401,585) |  |  | (1,176) |  |  | (51,313) |  |  | (602,646) |
Noncontrolling interest |  |  | - |  |  | - |  |  | - |  |  | 159 |  |  | 159 |
Segment net profit (loss) |  |  | (7,744,170) |  |  | (257,527) |  |  | (678,789) |  |  | (635,572) |  |  | (9,316,058) |
Since April 2014, our grain business includes direct exporting the organic bean-based products to countries including the U.S., Australia, Canada, Israel, and Denmark. The export businesses were denominated in US Dollar. All long-lived assets are located in China. The following tables set forth our three major customers in each segment:
|  | For The Three Months Ended March 31, |
|  | 2015 |  | 2014 |
Corn Division : |  |  |  |  |  |  |
Neijiang Zhengda Co., Ltd. |  |  | 11.0 | % |  | 3.3 | %
Chengdu longqing Feed Co., Ltd. |  |  | 6.7 | % |  | 1.8 | %
Chengdu Jindou Animal Nitrition Food Co., Ltd. |  |  | 6.5 | % |  | 4.2 | %
Top Three Customers as % of Total Gross Sales: |  |  | 24.2 | % |  | 9.3 | %
Grain Division : |  |  |  |  |  |  |
Deyufang Innovation Food (Beijing) Co., Ltd. |  |  | 56.7 | % |  | 82.0 | %
Ethical Food SA |  |  | 12.3 | % |  | 4.0 | %
Jinzhong Shengde Trading Food Co., Ltd. |  |  | 5.7 | % |  | 0.3 | %
Top Three Customers as % of Total Gross Sales |  |  | 74.7 | % |  | 86.3 | %
Bulk Trading Division : |  |  |  |  |  |  |
n/a |  |  | n/a |  |  | n/a |
n/a |  |  | n/a |  |  | n/a |
n/a |  |  | n/a |  |  | n/a |
Top Three Customers as % of Total Gross Sales: |  |  | 0.0 | % |  | 0.0 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: 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 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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