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Segment Reporting
 3 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

 

The Company is 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 (expense) and net income (loss) 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 (loss) by segment.

 

   Three Months Ended September 30, 
Revenues from unaffiliated customers:  2021   2020 
Jinong  $15,161,742   $14,529,312 
Gufeng   14,788,252    15,828,203 
Yuxing   2,888,894    2,423,488 
Sales VIEs   4,542,143    9,359,707 
Consolidated  $37,381,031   $42,140,710 
           
Operating income (expense):          
Jinong  $(3,862,612)  $1,758,677 
Gufeng   (9,090,997)   (31,136,234)
Yuxing   162,601    137,213 
Sales VIEs   (1,690,124)   1,608,473 
Reconciling item (1)   
-
    
-
 
Reconciling item (2)   (454,436)   (455,876)
Consolidated  $(14,935,568)  $(28,087,747)
           
Net income (loss):          
Jinong  $(3,818,917)  $1,518,043 
Gufeng   (9,163,571)   (31,193,670)
Yuxing   161,939    136,909 
Sales VIEs   (1,731,762)   1,225,349 
Reconciling item (1)   3    
-
 
Reconciling item (2)   (524,901)   (1,370,373)
Reconciling item (3)   
-
    (12,550)
Consolidated  $(15,077,208)  $(29,696,292)
           
Depreciation and Amortization:          
Jinong  $207,393   $192,578 
Gufeng   204,574    305,111 
Yuxing   320,305    298,796 
Sales VIEs   80,287    123,949 
Consolidated  $812,559   $920,432 
           
Interest expense:          
Jinong   
-
    
-
 
Gufeng   72,011    56,768 
Yuxing   
-
    
-
 
Sales VIEs   88    
-
 
Consolidated  $72,099   $56,768 
           
Capital Expenditure:          
Jinong  $15,964   $3,667 
Gufeng   21,551    17,445 
Yuxing   32,277    
-
 
 Sales VIEs   
-
    
-
 
Consolidated  $69,792   $21,112 

 

   As of 
   September 30,   June 30, 
   2021   2021 
Identifiable assets:        
Jinong  $82,809,024   $85,585,344 
Gufeng   121,469,973    130,346,782 
Yuxing   38,915,065    38,516,348 
Sales VIEs   39,257,865    43,862,592 
Reconciling item (1)   (31,704,583)   (31,748,448)
Reconciling item (2)   166,121    166,121 
Consolidated  $250,913,464   $266,728,738 

 

(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)The comparative numbers are excluding discontinued entities