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Condensed financial information of the parent company (Tables)

6 Months Ended

Mar. 31, 2022

Condensed financial information of the parent company

Summary of Parent Company Balance Sheets

​

​	​	​	​	​	​	​
​		As of			As of
​	​	March 31,		​	September 30,
​	​	2022		​	2021
Assets		​			​
Current assets		​			​
Cash	​	$	8,132	​	$	522,915
Due from related parties	​	​	337,667	​	​	—
Other receivables	​		104,112	​		125,081
​	​	​	449,911	​	​	647,996
Non-current assets	​			​
Investment in subsidiaries	​		170,198,627	​		160,199,022
Total assets	​	$	170,648,538	​	$	160,847,018
​	​	​	​	​	​	​
Liabilities and Shareholders’ Equity	​			​
​	​	​	​	​	​	​
Current liabilities	​			​
Due to related parties	​		—	​		54,600
Total liabilities	​		—	​	$	54,600
​	​	​	​	​	​	​
Commitments and contingencies	​			​
​	​	​	​	​	​	​
Shareholders’ equity	​			​
Ordinary share, $0.025 par value, 24,000,000 shares authorized, 23,906,985 and 22,311,215 shares issued and outstanding at March 31, 2022 and September 30, 2021, respectively	​		597,675	​		557,781
Additional paid-in capital	​		152,162,660	​		147,088,227
Retained earnings	​		17,888,203	​		13,146,410
Total shareholders’ equity	​		170,648,538	​		160,792,418
​	​	​	​	​	​	​
Total liabilities and shareholders’ equity	​	$	170,648,538	​	$	160,847,018

Summary of Parent Company Statements of Operations

​

​	​	​	​	​	​	​
​	​	For the six		​	For the six
​	​	months ended		​	months ended
​		March 31, 2022			March 31, 2021
​	​	(unaudited)		​	(unaudited)
Operating expenses:		​			​
General and administrative expenses	​	$	(2,529,882)	​	$	(1,267,506)
​	​	​	​	​	​	​
Other expenses	​			​
Other expenses	​		(1,861)	​		(408)
​	​	​	​	​	​	​
Loss from operations	​		(2,531,743)	​		(1,267,914)
Equity in income of subsidiaries and VIE	​		1,944,804	​		2,630,530
Net (loss) income attributable to Farmmi, Inc.	​	$	(586,939)	​	$	1,362,616

Summary of Parent Company Statements of Cash Flows

​

​	​	​	​	​	​	​
​	​	For the six		​	For the six
​	​	months ended		​	months ended
​		March 31, 2022			March 31, 2021
​	​	(unaudited)		​	(unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES	​	​	​	​	​	​
Net loss	​	$	(2,531,742)	​	$	(1,267,914)
Share-based compensation	​	​	2,000,000	​	​	805,410
Adjustments to reconcile net cash flows from operating activities	​	​	​	​	​	​
Equity in earnings of subsidiaries	​	​	1,944,804	​	​	2,630,530
Other current assets	​	​	(316,697)	​	​	(1,446)
Other current liabilities	​	​	—	​	​	(36,929)
Net cash provided by operating activities	​	​	1,096,365	​	​	2,129,651
​	​	​	​	​	​	​
Cash flow from financing activities	​	​	​	​	​	​
Investment in subsidiaries	​	​	(7,556,548)	​	​	(8,546,149)
Net proceeds from issuance of ordinary shares	​	​	6,000,000	​	​	6,709,040
Advances from related parties	​	​	—	​	​	294,325
Repayment of advances from related parties	​		(54,600)	​		—
Net cash used in financing activities	​	​	(1,611,148)	​	​	(1,542,784)
Change in cash	​		(514,783)	​		586,867
Cash, beginning of year	​		522,915	​		2,122
Cash, end of year	​	$	8,132	​	$	588,989

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