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Segment Reporting | 12 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 15 – SEGMENT REPORTING As of June 30, 2019, 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 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 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, |
|  | 2019 |  |  | 2018 |
Revenues from unaffiliated customers: |  |  |  |  |  |
Jinong |  | $ | 76,494,490 |  |  | $ | 97,722,842 |
Gufeng |  |  | 136,285,236 |  |  |  | 112,983,573 |
Yuxing |  |  | 10,101,051 |  |  |  | 10,485,030 |
Sales VIEs |  |  | 71,440,026 |  |  |  | 65,862,085 |
Consolidated |  | $ | 294,320,803 |  |  | $ | 287,053,530 |
Operating income: |  |  |  |  |  |  |  |
Jinong |  | $ | 7,288,789 |  |  | $ | 23,471,811 |
Gufeng |  |  | 14,076,655 |  |  |  | 10,151,272 |
Yuxing |  |  | (3,435,206 | ) |  |  | (506,077 | )
Sales VIEs |  |  | 2,681,521 |  |  |  | (1,897,364 | )
Reconciling item (1) |  |  | 0 |  |  |  | 0 |
Reconciling item (2) |  |  | (1,807,011 | ) |  |  | (1,417,855 | )
Reconciling item (3) --stock compensation |  |  | 0 |  |  |  | 0 |
Consolidated |  | $ | 18,804,748 |  |  | $ | 29,801,787 |
Net income: |  |  |  |  |  |
Jinong |  | $ | 5,925,025 |  |  | $ | 19,841,004 |
Gufeng |  |  | 10,191,675 |  |  |  | 7,172,837 |
Yuxing |  |  | (3,435,659 | ) |  |  | (484,398 | )
Sales VIEs |  |  | 729,023 |  |  |  | (2,700,288 | )
Reconciling item (1) |  |  | 9 |  |  |  | 6 |
Reconciling item (2) |  |  | (1,807,009 | ) |  |  | (30,428,390 | )
Reconciling item (3) |  | $ | (12,668 | ) |  | $ | (331,996 | )
Consolidated |  | $ | 11,590,395 |  |  | $ | (6,931,225 | )
Depreciation and Amortization: |  |  |  |  |  |  |  |
Jinong |  | $ | 788,787 |  |  | $ | 1,720,419 |
Gufeng |  |  | 2,144,061 |  |  |  | 2,246,657 |
Yuxing |  |  | 1,242,761 |  |  |  | 1,407,367 |
Sales VIEs |  |  | 745,169 |  |  |  | 826,063 |
Consolidated |  | $ | 4,920,779 |  |  | $ | 6,200,506 |
Interest expense: |  |  |  |  |  |  |  |
Jinong |  |  | 277,003 |  |  |  | 290,638 |
Gufeng |  |  | 318,122 |  |  |  | 377,593 |
Yuxing |  |  | 0 |  |  |  | 0 |
Sales VIEs |  |  | 0 |  |  |  | (76,078 | )
Consolidated |  | $ | 595,125 |  |  | $ | 592,153 |
Capital Expenditure: |  |  |  |  |  |  |  |
Jinong |  | $ | 6,862 |  |  | $ | 7,212 |
Gufeng |  |  | 47,096 |  |  |  | 7,800 |
Yuxing |  |  | 9,653 |  |  |  | 5,448 |
Sales VIEs |  |  | 0 |  |  |  | 20,655 |
Consolidated |  | $ | 63,610 |  |  | $ | 41,114 |
|  | As of |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |
Identifiable assets: |  |  |  |  |  |
Jinong |  | $ | 149,166,251 |  |  | $ | 226,335,489 |
Gufeng |  |  | 253,149,321 |  |  |  | 168,572,947 |
Yuxing |  |  | 35,900,242 |  |  |  | 0 |
Sales VIEs |  |  | 42,269,307 |  |  |  | 87,567,782 |
Reconciling item (1) |  |  | 518,158 |  |  |  | 512,622 |
Reconciling item (2) |  |  | (2,879 | ) |  |  | (2,879 | )
Consolidated |  | $ | 481,000,399 |  |  | $ | 482,985,960 |
| (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 loss on discontinuing sales VIE of Shenqiu Zhenbai.
Total revenues from exported products currently accounted for less than 1% of the Company's total fertilizer revenues for the years ended June 30, 2019 and 2018 respectively.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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