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Segment Reporting | 12 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 14 – SEGMENT REPORTING As of June 30, 2024, 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 Antaeus (Bitcoin). 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, |
|  | 2024 |  |  | 2023 |
Revenues from unaffiliated customers: |  |  |  |  |  |
Jinong |  | $ | 32,954,490 |  |  | $ | 40,247,303 |
Gufeng |  |  | 52,189,666 |  |  |  | 74,028,542 |
Yuxing |  |  | 9,416,450 |  |  |  | 9,654,168 |
Antaeus |  |  | 1,285,181 |  |  |  | 210,342 |
Consolidated |  | $ | 95,845,788 |  |  | $ | 124,140,355 |
Operating income (expense): |  |  |  |  |  |  |  |
Jinong |  | $ | (3,038,010 | ) |  | $ | (4,411,893 | )
Gufeng |  |  | (19,059,750 | ) |  |  | (6,062,353 | )
Yuxing |  |  | (893,515 | ) |  |  | 499,479 |
Antaeus |  |  | (2,004,936 | ) |  |  | (465,560 | )
Reconciling item (1) |  |  | - |  |  |  | - |
Reconciling item (2) |  |  | (3,854,945 | ) |  |  | (3,173,033 | )
Consolidated |  | $ | (28,851,155 | ) |  | $ | (13,613,360 | )
Net (loss) income: |  |  |  |  |  |
Jinong |  | $ | (2,983,399 | ) |  | $ | (4,224,927 | )
Gufeng |  |  | (19,219,575 | ) |  |  | (6,280,625 | )
Yuxing |  |  | (802,575 | ) |  |  | 763,512 |
Antaeus |  |  | (1,544,831 | ) |  |  | (367,988 | )
Reconciling item (1) |  |  | 12 |  |  |  | 1,077 |
Reconciling item (2) |  | $ | (3,854,947 | ) |  | $ | (3,173,034 | )
Consolidated |  | $ | (28,405,315 | ) |  | $ | (13,281,985 | )
Depreciation and Amortization: |  |  |  |  |  |  |  |
Jinong |  | $ | 764,684 |  |  | $ | 785,503 |
Gufeng |  |  | 730,516 |  |  |  | 761,466 |
Yuxing |  |  | 750,476 |  |  |  | 839,514 |
Antaeus |  |  | 475,477 |  |  |  | 16,667 |
Consolidated |  | $ | 2,721,154 |  |  | $ | 2,403,150 |
Interest expense: |  |  |  |  |  |  |  |
Jinong |  |  | 126,395 |  |  |  | 78,342 |
Gufeng |  |  | 165,791 |  |  |  | 217,462 |
Yuxing |  |  | - |  |  |  | - |
Antaeus |  |  | - |  |  |  | - |
Consolidated |  | $ | 292,186 |  |  | $ | 295,804 |
Capital Expenditure: |  |  |  |  |  |  |  |
Jinong |  | $ | 53,702 |  |  | $ | 52,664 |
Gufeng |  |  | 180 |  |  |  | 216,892 |
Yuxing |  |  | 106,280 |  |  |  | 101,837 |
Antaeus |  |  | 1,502,600 |  |  |  | 1,000,000 |
Consolidated |  | $ | 1,662,763 |  |  | $ | 1,371,393 |
|  | As of |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |
Identifiable assets: |  |  |  |  |  |
Jinong |  | $ | 72,411,611 |  |  | $ | 87,862,836 |
Gufeng |  |  | 39,063,187 |  |  |  | 49,749,041 |
Yuxing |  |  | 40,535,883 |  |  |  | 38,223,482 |
Antaeus |  |  | 1,612,177 |  |  |  | 3,292,247 |
Reconciling item (1) |  |  | 9,454,754 |  |  |  | 7,387,637 |
Reconciling item (2) |  |  | 169,071 |  |  |  | 166,121 |
Consolidated |  | $ | 163,246,683 |  |  | $ | 186,681,364 |
(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.
Total revenues from exported products currently accounted for less than 1% of the Company’s total fertilizer revenues for the years ended June 30, 2024 and 2023, respectively.

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