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Segment Reporting | 9 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 14 – SEGMENT REPORTING As of March 31, 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.
|  | Three Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Nine Months Ended |
|  | March 31, 2024 |  |  | March 31, 2023 |  |  | March 31, 2024 |  |  | March 31, 2023 |
Revenues from unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  | $ | 7,534,076 |  |  | $ | 9,606,177 |  |  | $ | 23,634,474 |  |  | $ | 31,596,928 |
Gufeng |  |  | 22,544,062 |  |  |  | 33,457,644 |  |  |  | 41,174,493 |  |  |  | 57,886,184 |
Yuxing |  |  | 2,467,916 |  |  |  | 2,198,139 |  |  |  | 7,262,819 |  |  |  | 7,915,380 |
Antaeus |  |  | 392,263 |  |  |  | - |  |  |  | 1,064,507 |  |  |  | - |
Consolidated |  | $ | 32,938,317 |  |  | $ | 45,261,960 |  |  | $ | 73,136,293 |  |  | $ | 97,398,492 |
Operating (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  | $ | (3,081,511 | ) |  | $ | (1,687,189 | ) |  | $ | (3,587,057 | ) |  | $ | (2,365,810 | )
Gufeng |  |  | (7,366,951 | ) |  |  | 2,491,007 |  |  |  | (10,460,423 | ) |  |  | 279,915 |
Yuxing |  |  | 139,072 |  |  |  | 127,971 |  |  |  | (1,005,290 | ) |  |  | 512,218 |
Antaeus |  |  | 5,398 |  |  |  | - |  |  |  | (88,619 | ) |  |  | - |
Reconciling item (1) |  |  | - |  |  |  | (748,411 | ) |  |  | - |  |  |  | (2,460,244 | )
Reconciling item (2) |  |  | (667,294 | ) |  |  | - |  |  |  | (3,005,987 | ) |  |  | - |
Consolidated |  | $ | (10,971,286 | ) |  | $ | 183,378 |  |  | $ | (18,147,376 | ) |  | $ | (4,033,921 | )
Net (loss) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  | $ | (3,078,870 | ) |  | $ | (1,639,160 | ) |  | $ | (3,509,256 | ) |  | $ | (2,209,588 | )
Gufeng |  |  | (7,406,821 | ) |  |  | 2,449,880 |  |  |  | (10,586,404 | ) |  |  | 113,257 |
Yuxing |  |  | 230,907 |  |  |  | 127,272 |  |  |  | (913,113 | ) |  |  | 621,448 |
Antaeus |  |  | 20,794 |  |  |  | - |  |  |  | (40,732 | ) |  |  | - |
Reconciling item (1) |  |  | - |  |  |  | 25 |  |  |  | 12 |  |  |  | 72 |
Reconciling item (2) |  |  | (667,294 | ) |  |  | (748,411 | ) |  |  | (3,005,987 | ) |  |  | (2,460,243 | )
Consolidated |  | $ | (10,901,284 | ) |  | $ | 189,605 |  |  | $ | (18,055,480 | ) |  | $ | (3,935,055 | )
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  | $ | 193,079 |  |  | $ | 199,812 |  |  | $ | 572,897 |  |  | $ | 589,916 |
Gufeng |  |  | 183,444 |  |  |  | 193,155 |  |  |  | 549,055 |  |  |  | 573,201 |
Yuxing |  |  | 189,812 |  |  |  | 194,903 |  |  |  | 561,453 |  |  |  | 649,776 |
Antaeus |  |  | 125,130 |  |  |  | - |  |  |  | 350,347 |  |  |  | - |
Consolidated |  | $ | 691,465 |  |  | $ | 587,869 |  |  | $ | 2,033,752 |  |  | $ | 1,812,893 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  |  | 35,530 |  |  |  | 25,359 |  |  |  | 91,046 |  |  |  | 50,486 |
Gufeng |  |  | 39,931 |  |  |  | 41,049 |  |  |  | 125,782 |  |  |  | 165,905 |
Yuxing |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Antaeus |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consolidated |  | $ | 75,461 |  |  | $ | 66,408 |  |  | $ | 216,828 |  |  | $ | 216,391 |
Capital Expenditure: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Jinong |  | $ | 9,037 |  |  | $ | 1,244 |  |  | $ | 50,861 |  |  | $ | 35,334 |
Gufeng |  |  | 180 |  |  |  | 1,375 |  |  |  | 180 |  |  |  | 217,480 |
Yuxing |  |  | 34,630 |  |  |  | 1,207 |  |  |  | 97,370 |  |  |  | 56,700 |
Antaeus |  |  | - |  |  |  | - |  |  |  | 1,502,600 |  |  |  | - |
Consolidated |  | $ | 43,847 |  |  | $ | 3,825 |  |  | $ | 1,651,011 |  |  | $ | 309,514 |
|  | As of |
|  | March 31, |  |  | June 30, |
|  | 2024 |  |  | 2023 |
Identifiable assets: |  |  |  |  |  |
Jinong |  | $ | 75,080,500 |  |  | $ | 87,862,836 |
Gufeng |  |  | 46,752,248 |  |  |  | 49,749,041 |
Yuxing |  |  | 38,598,326 |  |  |  | 38,223,482 |
Antaeus |  |  | 3,355,841 |  |  |  | 3,292,247 |
Reconciling item (1) |  |  | 9,656,086 |  |  |  | 7,387,637 |
Reconciling item (2) |  |  | 166,121 |  |  |  | 166,121 |
Consolidated |  | $ | 173,609,122 |  |  | $ | 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.

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