10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

Amendment No.1

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2011

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

       For the transition period from ____________ to ____________

Commission File Number 001-34260

CHINA GREEN AGRICULTURE, INC.

(Exact name of registrant as specified in its charter)

Nevada	36-3526027
(State or other jurisdiction of	(IRS Employer
incorporation or organization)	Identification No.)

3 rd Floor, Borough A, Block A, No. 181,

South Taibai Road, Xi’an, Shaanxi Province,

              People’s Republic of China  710065            

 (Address of principal executive offices) (Zip Code)

                                +86-29-88266368                        

(Issuer's telephone number, including area code)

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x   No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes o   No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer    o	Accelerated filer             x
Non-accelerated filer     o ( Do not check if a smaller reporting company )	Smaller reporting company   o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o   No x

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:  26,941,859 shares of common stock, $.001 par value, as of November 4, 2011.

Explanatory Note

The purpose of this Amendment No. 1 on Form 10-Q/A to China Green Agriculture, Inc. (the “Company”)’s Quarterly Report on Form 10-Q for the period ended September 30, 2011, filed with the Securities and Exchange Commission on November 9, 2011 (“the Form 10-Q”), is solely to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T.

No other changes have been made to the Form 10-Q and this Form 10-Q/A does not modify or update any other disclosures made in the Form 10-Q.

Pursuant to Rule 406T of Regulation S-T, the interactive data files on Exhibit 101 hereto are deemed not filed as part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

PART II.                 OTHER INFORMATION

Item 6.                      Exhibits

Exhibit No.	Description
31.1*	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

 *           Filed with the Company’s Quarterly Report on Form 10-Q as filed with Securities and Exchange Commission on November 9, 2011.

 **           Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CHINA GREEN AGRICULTURE, INC.
Date: November 21, 2011	By:	/ s/ Tao Li
		Name: Tao Li
		Title: President and Chief Executive Officer
		(principal executive officer)
Date: November 21, 2011	By:	/s/ Ken Ren
		Name: Ken Ren
		Title: Chief Financial Officer
		(principal financial officer and principal
		accounting officer)

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INVENTORIES

3 Months Ended

Sep. 30, 2011

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 4 – INVENTORIES

Inventories consisted of the following:

	September 30,		June 30,
	2011		2011
Raw materials	$	10,056,587	$	5,990,640
Supplies and packing materials		2,388,458		530,644
Work in progress		140,979		105,702
Finished goods		23,611,601		17,105,418
Total	$	36,197,625	$	23,732,404

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EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted earnings per share as of September 30, 2011 and 2010 were as follows:

	For the Three Months Ended September 30,
	2011		2010
Net Income for Basic Earnings Per Share	$	10,731,636	$	7,787,785
Basic Weighted Average Number of Shares		26,857,338		25,922,880
Net Income per Share – Basic	$	0.40	$	0.30
Net Income for Diluted Earnings Per Share		10,731,636		7,787,785
Diluted Weighted Average Number of Shares		26,857,338		26,035,426
Net Income per Share – Diluted	$	0.40	$	0.30

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CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2011	Jun. 30, 2011
ASSETS
Cash and cash equivalents	$ 71,333,911	$ 65,606,413
Accounts receivable, net	24,095,094	17,517,625
Inventories	36,197,625	23,732,404
Other current assets	774,688	537,126
Advances to suppliers	12,816,782	11,487,896
Total Current Assets	145,218,100	118,881,464
Plant, Property and Equipment, Net	66,548,098	66,211,441
Construction In Progress	4,799,168	4,662,039
Other Assets - Non Current	250,658	150,169
Intangible Assets, Net	28,452,487	28,508,629
Goodwill	5,005,311	4,957,245
Total Assets	250,273,822	223,370,987
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	7,359,982	5,981,703
Unearned revenue	11,264,364	11,059,313
Accrued expenses and other payables	4,794,688	3,282,353
Amount due to related parties	70,269	69,962
Taxes payable	9,542,514	7,004,865
Short term loans	12,175,790	4,099,550
Total Current Liabilities	45,207,607	31,497,746
Commitment and Contingencies
Stockholders' Equity
Preferred Stock, $.001 par value, 20,000,000 shares authorized, Zero shares issued and outstanding	0	0
Common stock, $.001 par value, 115,197,165 shares authorized, 26,941,859 and 26,845,860 shares issued and outstanding as of September 30, 2011 and June 30, 2011, respectively	26,942	26,846
Additional paid-in capital	99,184,578	98,627,482
Statutory reserve	11,285,145	10,027,721
Retained earnings	81,761,648	72,287,436
Accumulated other comprehensive income	12,807,902	10,903,756
Total Stockholders' Equity	205,066,215	191,873,241
Total Liabilities and Stockholders' Equity	$ 250,273,822	$ 223,370,987

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ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Sep. 30, 2011

Accounting Policies [Abstract]

Nature of Operations [Text Block]

NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

China Green Agriculture, Inc. (the “Company”, “we”, “us”), through its subsidiaries, is engaged in the research, development, production, distribution and sale of humic acid-based compound fertilizer, compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, highly-concentrated water-soluble fertilizers and mixed organic-inorganic compound fertilizer and the development, production and distribution of agricultural products. The Company was incorporated in 1987, but entered its current lines of business in December 2007.

The Company’s corporate structure as of September 30, 2011 is set forth in the diagram below:

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COMMITMENTS AND LEASES

3 Months Ended

Sep. 30, 2011

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

NOTE 17 - COMMITMENTS AND LEASES

In July 2007, Jinong signed an office lease with the Group Company and started to pay the rent for $954 (RMB 6,460) per month. On September 30, 2010, Jinong cancelled the lease agreement with the Group Company without penalty and signed a two year lease starting from July 1, 2010 directly with Xi’an Kingtone Information Technology Co., Ltd. (“Kingtone Information”), who owns the property. Kingtone Information is a Variable Interest Entity (“VIE”) with Kingtone Wirelessinfo Solution Holoding Ltd. (“Kingtone Wirelessinfo”), whose Chairman and majority shareholder is Mr. Tao Li, the Chairman, President and Chief Executive Officer of the Company. According to the new lease agreement, the monthly rent is $1,682 (RMB 10,800).

In January 2008, Jintai signed a ten year land lease with Xi’an Jinong Hi-tech Agriculture Demonstration Zone for a monthly rent of $810 (RMB 5,200).

In February 2004, Tianjuyuan signed a fifty year lease with village committee of Dong Gao Village and Zhen Nan Zhang Dai Village in the Beijing Ping Gu District, with a monthly rent of $461 (RMB 2,958).

Accordingly, the Company recorded an aggregate of $63,724 and $8,403 as rent expenses for the three months ended September 30, 2011 and 2010, respectively. Rent expenses for the next five twelve month periods ended September 30 are as follows:

September 30, 2012	$	15,243
September 30, 2013		15,243
September 30, 2014		15,243
September 30, 2015		15,243
September 30, 2016		15,243

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Sep. 30, 2011

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Accounting principles

In the opinion of management, the accompanying balance sheets and related interim statements of income and comprehensive income, and cash flows include all adjustments, consisting only of normal recurring items, necessary for their fair presentation in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the Company’s annual report on  Form 10-K for the fiscal year ended June 30, 2011 filed with the U.S. Securities and Exchange Commission (the “Commission”) on September 12, 2011.

Principles of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Green New Jersey, Jinong, Jintai, Yuxing, Gufeng and Tianjuyuan. All significant inter-company accounts and transactions have been eliminated in consolidation.

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Recent accounting pronouncements

In May 2011, the FASB issued guidance to amend certain measurement and disclosure requirements related to fair value measurements to improve consistency with international reporting standards. This guidance is effective prospectively for public entities for interim and annual reporting periods beginning after December 15, 2011, with early adoption by public entities prohibited. The Company is currently evaluating this guidance, but does not expect its adoption will have a material effect on its consolidated financial statements.

In June 2011, the FASB issued new guidance on the presentation of comprehensive income that will require a company to present components of net income and other comprehensive income in one continuous statement or in two separate, but consecutive statements. There are no changes to the components that are recognized in net income or other comprehensive income under current GAAP. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011, with early adoption permitted. The Company is currently evaluating this guidance, but does not expect its adoption will have a material effect on its consolidated financial statements.

In September 2011, the FASB issued amendments to the goodwill impairment guidance which provides an option for companies to use a qualitative approach to test goodwill for impairment if certain conditions are met. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 (early adoption is permitted). The implementation of amended accounting guidance is not expected to have a material impact on our consolidated financial position and results of operations.

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CONSOLIDATED CONDENSED BALANCE SHEETS [Parenthetical] (USD $)	Sep. 30, 2011	Jun. 30, 2011
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	115,197,165	115,197,165
Common stock, shares issued	26,941,859	26,845,860
Common stock, shares, outstanding	26,941,859	26,845,860

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TAXES PAYABLE

3 Months Ended

Sep. 30, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 12 - TAXES PAYABLE

Enterprise Income Tax

Effective January 1, 2008, the new Enterprise Income Tax (“EIT”) law of the PRC replaced the existing tax laws for Domestic Enterprises (“DES”) and Foreign Invested Enterprises (“FIEs”). The new EIT rate of 25% replaced the 33% rate that was applicable to both DES and FIEs. The two year tax exemption and three year 50% tax reduction tax holiday for production-oriented FIEs was eliminated. Since January 1, 2008, Jinong became subject to income tax in China at a rate of 15% as a high-tech company, as a result of the expiration of its tax exemption on December 31, 2007, and accordingly, it made provision for income taxes for the three months ended September 30, 2011 and 2010 of $2,463,511 and $1,713,743, respectively. Gufeng is subject to 25% EIT rate and thus it made provision for income taxes of $622,653 for the three months ended September 30, 2011. The 25% EIT rate that Gufeng is subject to remains unchanged from the three months ended September 30, 2010. Jintai and Yuxing have been exempt from paying income tax since its formation as it produces products which fall into the tax exemption list set out in the EIT. This exemption is expected to last as long as the applicable provisions of the EIT do not change.

Value-Added Tax

All of the Company’s fertilizer products that are produced and sold in the PRC were subject to a Chinese Value-Added Tax (VAT) of 13% of the gross sales price. On April 29, 2008, the PRC State of Administration of Taxation (SAT) released Notice #56, “ Exemption of VAT for Organic Fertilizer Products ”, which allows certain fertilizer products to be exempt from VAT beginning June 1, 2008. The Company submitted the application for exemption in May 2009, which was granted effective September 1, 2009, continuing through December 31, 2015. The VAT exemption applies to all agricultural products sold by Jingtai and Yuxing, and all but a nominal amount of agricultural products sold by Jinong.

Income Taxes and Related Payables

Taxes payable consisted of the following:

	September 30, 2011		June 30, 2011
VAT provision (credit)	$	49,576	$	40,495
Income tax payable		9,123,760		6,593,876
Other levies		369,178		370,494
Total	$	9,542,514	$	7,004,865

Income Taxes in the Consolidated Statements of Income and Comprehensive Income

Income taxes consisted of the following:

	September 30, 2011		June 30, 2010
Current Tax	$	2,463,511	$	1,713,743
Deferred Tax		-		-
Total	$	2,463,511	$	1,713,743

Tax Rate Reconciliation

Substantially all of the Company’s income before income taxes and related tax expense are from PRC sources. Actual income tax benefit reported in the consolidated statements of income and comprehensive income differ from the amounts computed by applying the US statutory income tax rate of 34% to income before income taxes for the three months ended September 30, 2011 and 2010 for the following reasons:

September 30, 2011	China					United States
	15% - 25%					34%					Total
Pretax income (loss)	$	14,681,072				$	(1,485,925	)			$	13,195,147
Expected income tax expense (benefit)		3,670,268		25.0	%		(505,215	)	34.0	%		3,165,054
High-tech income benefits on Jinong		(766,515	)	(5.2	) %		-		-			(766,515	)
Losses from subsidiaries in which no benefit is recognized		(440,242	)	(3.0	) %		-		-			(440,242	)
Change in valuation allowance on deferred tax asset from US tax benefit		-					505,215		(34.0	) %		505,215
Actual tax expense	$	2,463,511		16.8	%	$	-		-	%	$	2,463,511		18.7	%
September 30, 2010	China					United States
	15% - 25%					34%					Total
Pretax income (loss)	$	10,702,296				$	(1,200,768	)			$	9,501,528
Expected income tax expense (benefit)		2,636,058		9.5	%		(408,261	)	34.0	%		2,227,797
High-tech income benefits on Jinong		(858,273	)	(3.1	) %							(858,273	)
Income tax benefit of nontaxable income on Jintai		(109,368	)	(0.4	) %		-		-			(109,368	)
Income tax benefit of nontaxable income on Yuxing		45,326		0.2	%		-		-			45,326
Change in valuation allowance on deferred tax asset from US tax benefit		-					408,261		(34.0	) %		408,261
Actual tax expense	$	1,713,743		6.2	%	$	-		-	%		1,713,743		18.0	%

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DOCUMENT AND ENTITY INFORMATION	3 Months Ended
	Sep. 30, 2011	Nov. 04, 2011
Entity Registrant Name	China Green Agriculture, Inc.
Entity Central Index Key	0000857949
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Trading Symbol	cga
Entity Common Stock, Shares Outstanding		26,941,859
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2011
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2012

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STOCKHOLDERS' EQUITY

3 Months Ended

Sep. 30, 2011

Stockholders Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 13 – STOCKHOLDERS’ EQUITY

Common Stock

The Company issued 4,025,000 shares of common stock at a public offering price of $7.15 per share in an underwritten offering and received total gross proceeds of approximately $28.8 million on July 24, 2009. The shares were sold under the Company's previously filed shelf registration statement, which was declared effective by the SEC on June 12, 2009. The Company uses the net proceeds to expand its production facilities through the construction of new greenhouse at Yuxing.

The Company completed the sale of 1,282,052 shares of common stock at a public offering price of $15.60 per share on November 25, 2009 in a registered direct offering for gross proceeds of $20,000,011. On December 16, 2009, the placement agent exercised rights to place up to 320,512 additional shares of common stock at a price of $15.60 per share, for additional gross proceeds of $4,999,987. The shares were sold under the Company's previously filed shelf registration statement, which was declared effective by the SEC on June 12, 2009.

On January 3, 2010, the Company made a one-time grant of an aggregate of 120,000 shares of restricted common stock of the Company to certain members of management and officers under the 2009 Equity Incentive Plan of the Company. Pursuant to the terms of the grant, one-third of the shares vested on February 2, 2010, one-third of the shares vested on December 31, 2010 as certain financial targets were achieved and the remaining one-third of the shares will vest on December 31, 2011 if certain financial targets are achieved. Additionally, the Company made a one-time grant of an aggregate of 22,961 shares of performance-based restricted common stock to certain officers, which vests in three equal installments on September 30, 2010, 2011 and 2012 because the Company achieved both net sales and income from operations targets for the fiscal year ended June 30, 2010.

On February 10, 2010, the Company made a one-time grant of an aggregate of 50,700 shares of restricted common stock to certain independent directors and key employees under the 2009 Equity Incentive Plan. Pursuant to the terms of the grant, one-third of the shares vested on March 10, 2010, one-third of the shares vested on December 31, 2010 as certain financial targets were achieved and the remaining one-third of the shares will vest on December 31, 2011 if certain financial targets are achieved. Additionally, the Company also granted to certain independent directors and key employees an aggregate of 70,500 shares of performance-based restricted common stock, which automatically vests in three equal installments on September 30, 2010, 2011 and 2012 because the Company achieved both net sales and income from operations targets for the fiscal year ended June 30, 2010.

On February 10, 2010, the Company issued a total of 8,000 shares of restricted common stock under its 2009 Equity Incentive Plan to a consultant pursuant to the terms of a service agreement, half of which was vested on August 9, 2010 and half of which was forfeited due to the disengagement of the service on September 15, 2010.

On July 2, 2010, the Company issued a total of 2,275,931 shares of common stock to Gufeng’s previous shareholders and their designees. Of the shares being issued in the acquisition, 40% will be held in escrow pending satisfaction of certain conditions such as make good targets set for Gufeng for the fiscal year ended June 30, 2011.

On March 31, 2011, the Company issued a total of 96,000 shares of restricted common stock of the Company to certain directors and executive officers under its 2009 Equity Incentive Plan. Pursuant to the terms of the grant, 8,000 shares of restricted common stock will be vested on April 30, 2011, 44,000 shares vest on June 2, 2011, and 44,000 shares vest on December 31,2011.

 Preferred Stock

Under the Company’s articles of incorporation, the board of directors has the authority, without further action by stockholders, to designate up to 20,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock.  If the Company sells preferred stock under its registration statement on Form S-3, it will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series in the certificate of designation relating to that series and will file the certificate of designation that describes the terms of the series of preferred stock the Company offers before the issuance of the related series of preferred stock.

As of September 30, 2011, the Company had 20,000,000 shares of preferred stock authorized, with a par value of $.001 per share, of which no shares are outstanding.

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CONSOLIDATED CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)	3 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Sales
Net sales	$ 53,102,594	$ 39,482,921
Cost of goods sold
Cost of goods sold	34,193,862	26,343,594
Gross profit	18,908,732	13,139,327
Operating expenses
Selling expenses	2,490,474	1,415,985
General and administrative expenses	3,138,695	2,098,187
Total operating expenses	5,629,169	3,514,172
Income from operations	13,279,563	9,625,155
Other income (expense)
Other income (expense)	(25,424)	(11,943)
Interest income	97,487	64,991
Interest expense	(156,479)	(176,675)
Total other income (expense)	(84,416)	(123,627)
Income before income taxes	13,195,147	9,501,528
Provision for income taxes	2,463,511	1,713,743
Net income	10,731,636	7,787,785
Other comprehensive income
Foreign currency translation gain	1,904,146	1,294,047
Comprehensive income	12,635,782	9,081,832
Basic weighted average shares outstanding (in shares)	26,857,338	25,922,880
Basic net earnings per share (in dollars per share)	$ 0.40	$ 0.30
Diluted weighted average shares outstanding (in shares)	26,857,338	26,035,426
Diluted net earnings per share (in dollars per share)	$ 0.40	$ 0.30
Jinong [Member]
Sales
Net sales	22,242,251	16,571,293
Cost of goods sold
Cost of goods sold	8,110,130	6,853,787
Gufeng [Member]
Sales
Net sales	29,613,091	21,801,034
Cost of goods sold
Cost of goods sold	25,269,670	18,900,513
Jintai [Member]
Sales
Net sales	1,198,887	1,110,594
Cost of goods sold
Cost of goods sold	748,830	589,294
Yuxing [Member]
Sales
Net sales	48,365	0
Cost of goods sold
Cost of goods sold	$ 65,232

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CONSTRUCTION IN PROGRESS

3 Months Ended

Sep. 30, 2011

Construction In Progress [Abstract]

Construction In Progress Disclosure [Text Block]

NOTE 7 – CONSTRUCTION IN PROGRESS

As of September 30, 2011 and June 30, 2011, construction in progress, representing construction for other buildings amounted to $4,799,168 and $4,662,039, respectively. The construction in progress mainly reflects the ongoing development project in Yuxing.

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PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Sep. 30, 2011

Property, Plant and Equipment [Abstract]

Property Plant and Equipment Excluding Construction Progress Disclosure [Text Block]

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

	September 30,			June 30,
	2011			2011
Building and improvements	$	43,530,291		$	44,032,549
Auto		1,542,865			1,491,849
Machinery and equipment		33,082,580			32,862,361
Agriculture assets		3,444,687			1,607,333
Total property, plant and equipment		81,600,423			79,994,092
Less: accumulated depreciation		(15,052,325	)		(13,782,651	)
Total	$	66,548,098		$	66,211,441

Depreciation expense for the three months ended September 30, 2011 and 2010 were $1,132,399 and $852,963, respectively.

Agriculture assets consist of reproductive trees that are expected to be commercially productive for a period of eight years.

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STOCK OPTIONS

3 Months Ended

Sep. 30, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 14 – STOCK OPTIONS

On August 17, 2009, some directors, officers and employees exercised 84,500 options to purchase an aggregate of 84,500 shares of common stock in a cashless manner and received 61,239 shares of common stock as a result of the cashless exercise.

On January 3, 2010, the Company made a one-time grant of options to purchase an aggregate of 150,000 shares of common stock to certain officers and directors under the 2009 Equity Incentive Plan at an exercise price of $14.70 per share, the closing price of common stock on the previous trading day. Pursuant to the terms of the grant, one-third of the options vested on February 2, 2010, one-third of the options vested on December 31, 2010 as certain financial targets are achieved and the remaining one-third of the options will vest on December 31, 2011 if certain financial targets are achieved.

On January 3, 2010, the Company also made a grant of performance-based options to purchase an aggregate of 45,291 shares of common stock to certain officers and directors under the 2009 Equity Incentive Plan at an exercise price of $14.70 per share, the closing price of the common stock on the previous trading day. Pursuant to the terms of the grant, the options automatically vest in three equal installments on September 30, 2010, 2011 and 2012 because the Company achieved both net sales and income from operations targets for the fiscal year ended June 30, 2010.

On February 3, 2010, one independent director resigned and all his vested and unvested options were forfeited pursuant to his grant agreement with the Company.

On February 7, 2010, the Company appointed a new independent director and issued to him performance-based options to purchase 10,000 shares of common stock under the 2009 Equity Incentive Plan at an exercise price of $14.02 per share, the closing price of the common stock on the previous trading day. Pursuant to the terms of the grant, one-third of the options vested on March 8, 2010, one-third of the options vested on December 31, 2010 as certain financial targets are achieved and the remaining one-third of the options will vest on December 31, 2011 if certain financial targets are achieved.

On March 31, 2011, per compensation board resolution, the Company forfeited all those outstanding unvested options granted to current officers and directors and one former officer on March, 1 2010 and February 7, 2010 according to the 2009 Equity Incentive Plan.

The Company’s calculations are made using the Black-Scholes option-pricing model with the following weighted average assumptions: expected life of 2 years; 75.2%-75.6% stock price volatility; risk-free interest rate of 1.63% and no dividends during the expected term. The weighted-average fair value of options granted was $0, $4.37, and $3.29 for the years ended June 30, 2011, 2010, and 2009, respectively. Stock compensation expense is recognized based on awards expected to vest. During the years ended June 30, 2011, 2010 and 2009, the Company recognized stock-based compensation expense of $3,605,235, $1,695,449 and $155,804, respectively.

The following table summarizes the options outstanding as of September 30, 2011:

				Weighted
				Average
	Number			Exercise		Aggregate
	of Shares			Price		Intrinsic Value
Outstanding, June 30, 2009		121,500		$	4.49
Granted		205,291		$	14.67
Forfeited/Canceled		(22,000	)	$	9.95
Exercised		(109,500	)	$	4.32
Outstanding, June 30, 2010		195,291		$	14.67
Granted		-			-
Forfeited/Canceled		(80,192	)	$	14.67
Exercised		-
Outstanding, June 30, 2011		115,099		$	14.66	$	-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, September 30, 2011		115,099		$	14.66	$	-
Exercisable, September 30, 2011		115,099		$	14.66	$	-

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AMOUNT DUE TO RELATED PARTIES

3 Months Ended

Sep. 30, 2011

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 10 - AMOUNT DUE TO RELATED PARTIES

As of September 30, 2011 and June 30, 2011, the amount due to related parties was $70,269 and $69,962 respectively.  These amounts represent unsecured, non-interest bearing loans that are due on demand.  These loans are not subject to written agreements.

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INTANGIBLE ASSETS AND GOODWILL

3 Months Ended

Sep. 30, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8 - INTANGIBLE ASSETS AND GOODWILL

The intangible assets comprised of the following:

	September 30,		June 30,
	2011		2011
Land use rights, net	$	12,041,040	$	11,814,149
Technology patent, net		1,137,657		1,188,969
Customer relationships, net		8,883,875		9,045,858
Non-compete agreement		154,638		163,363
Trademarks		6,235,277		6,296,290
Total	$	28,452,487	$	28,508,629

LAND USE RIGHT

On September 25, 2009, Yuxing was granted a land use right for approximately 88 acres (353,000 square meters or 3.8 million square feet) by the People’s Government and Land & Resources Bureau of Hu County, Xi’an, Shaanxi Province. The fair value of the related intangible asset was determined to be the respective cost of $10,938,628 (or RMB 73,184,895). The intangible asset is being amortized over the grant period of 50 years.

On August 13, 2003, Tianjuyuan was granted a certificate of Land Use Right for a parcel of land of approximately 11 acres (42,726 square meters or 459,898 square feet) at Ping Gu District, Beijing. The purchase cost was recorded at $163,377 (or RMB 1,045,950). The intangible asset is being amortized over the grant period of 50 years.

On August 16, 2001, Jinong received a land use right as a contribution from a shareholder, which was granted by the People’s Government and Land & Resources Bureau of Yanling District, Shaanxi Province. The fair value of the related intangible asset at the time of the contribution was determined to be $1,137,932 (or RMB 7,285,099). The intangible asset is being amortized over the grant period of 50 years.

The Land Use Rights consist of the following as of September 30, 2011 and June 30, 2011:

	September 30,			June 30,
	2011			2011
Land use rights	$	12,732,791		$	12,452,801
Less: accumulated amortization		(691,751	)		(638,652	)
Total land use rights, net	$	12,041,040		$	11,814,149

TECHNOLOGY PATENT

On August 16, 2001, Jinong was issued a technology patent related to a proprietary formula used in the production of humid acid. The fair value of the related intangible asset was determined to be the respective cost of $917,686 (or RMB 5,875,068). The intangible asset is being amortized over the patent period of 10 years.

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The fair value on the acquired technology patent was determined to be $1,437,040 (or RMB 9,200,000) and is being amortized over the remaining useful life of six years.

The technology know-how consisted of the following as of September 30, 2011 and June 30, 2011:

	September 30,			June 30,
	2011			2011
Technology know-how	$	2,354,726		$	2,332,113
Less: accumulated amortization		(1,217,069	)		(1,143,144	)
Total technology know-how, net	$	1,137,657		$	1,188,969

CUSTOMER RELATIONSHIP

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired customer relationships was estimated to be $10,153,000 (or RMB 65,000,000) and is amortized over the remaining useful life of ten years.

	September 30, 2011			June 30, 2011
Customer relationships	$	10,153,000		$	10,096,418
Less: accumulated amortization		(1,269,125	)		(1,050,560	)
Total Customer relationships, net	$	8,883,875		$	9,045,858

NON-COMPETE AGREEMENT

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired non-compete agreement was estimated to be RMB 1,320,000 (or $197,295) and is amortized over the remaining useful life of five years using the straight line method.

	September 30,			June 30,
	2011			2011
Non-compete agreement	$	206,184		$	204,204
Less: accumulated amortization		(51,546	)		(40,841	)
Total non-compete agreement, net	$	154,638		$	163,363

TRADEMARKS

 On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired trademarks was estimated to be $6,235,277 and is subject to an annual impairment test.

Total amortization expenses of intangible assets for the periods ended September 30, 2011 and 2010 were $331,502 and $81,143, respectively.

AMORTIZATION EXPENSE

Estimated amortization expenses of intangible assets for the next five twelve-month periods ended September 30, are as follows:

September 30, 2012	$	1,642,468
September 30, 2013		1,642,468
September 30, 2014		1,642,468
September 30, 2015		1,642,468
September 30, 2016		1,642,468

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ACCRUED EXPENSES AND OTHER PAYABLES

3 Months Ended

Sep. 30, 2011

Accrued Expenses and Other Payables [Abstract]

Accrued Expenses and Other Payables Disclosure [Text Block]

NOTE 9 - ACCRUED EXPENSES AND OTHER PAYABLES

Accrued expenses and other payables consisted of the following:

	September 30,		June 30,
	2011		2011
Payroll payable	$	240,519	$	248,686
Welfare payable		165,815		164,223
Accrued expenses		2,160,952		1,666,753
Other payable		2,106,197		1,202,691
Other Tax		121,205		-
Total	$	4,794,688	$	3,282,353

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LOAN PAYABLES

3 Months Ended

Sep. 30, 2011

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

NOTE 11 - LOAN PAYABLES

The short-term loans payable consist of three loans which mature on dates ranging from January 13, 2012 through September 19, 2012 with different interest rates. The loans are collateralized by the Company’s land use rights.

						September 30,		June 30,
No.	Customer	Loan period per agreement	Interest Rate			2011		2011
1	Agricuture Bank of China-Beijing Branch	January 20, 2011 - January 13, 2012		7.2565	%	$	1,312,080	$	1,299,480
2	Agricuture Bank of China-Beijing Branch	April 12, 2011 -  April 11, 2012		7.2565	%		1,249,600		1,237,600
3	Agricuture Bank of China-Beijing Branch	May 23, 2011 - April 19, 2012		7.2565	%		1,577,620		1,562,470
4	Bank of Tianjin	September 9, 2011 - July 23, 2012		7.5440	%		1,788,490		-
5	Minsheng Bank	September 8, 2011 - September 8, 2012		8.2	%		1,789,172		-
6	Minsheng Bank	September 19, 2011 - September 19, 2012		8.2	%		553,828		-
7	China Merchant Bank	July 25, 2011 - July 26, 2012		8.528	%		3,905,000		-
		Total				$	12,175,790	$	4,099,550

The weighted average interest rate is 8.00%. The interest expenses from short-term loans were $156,479 and $176,675 for the quarter ended September 30, 2011, and 2010 respectively.

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SEGMENT REPORTING

3 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 16 – SEGMENT REPORTING

The Company was organized into four main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), Jintai (agricultural products production) and Yuxing (research and development center that is currently under construction). The following tables present a summary of our businesses’ and operating segments’ results.

	For the three months ended September 30,
	2011			2010
Revenues from unaffiliated customers:
Jinong	$	22,242,251		$	16,571,293
Gufeng		29,613,091			21,801,034
Jintai		1,198,887			1,110,594
Yuxing		48,365			-
Consolidated	$	53,102,594		$	39,482,921
Operating income :
Jinong	$	12,187,448		$	8,519,558
Gufeng		2,608,589			1,922,981
Jintai		10,459			437,446
Yuxing		(40,730)			(54,062	)
Reconciling item (1)		(705,036)			-
Reconciling item (2)		(781,167)			(556,693	)
Reconciling item (2)—stock compensation		-			(644,075
Consolidated	$	13,279,563		$	9,625,155
Net income:
Jinong	$	10,429,494		$	7,295,318
Gufeng		1,817,896			1,307,706
Jintai		10,501			437,473
Yuxing		(40,331)			(53,731	)
Reconciling item (1)		278			1,787
Reconciling item (2)		(1,486,202)			(1,200,768	)
Consolidated	$	10,731,636		$	7,787,785
Depreciation and Amortization:
Jinong	$	575,479		$	578,765
Gufeng		789,592			268,613
Jintai		283			31,374
Yuxing		98,548			55,084
Consolidated	$	1,463,901		$	933,836
Interest expense:
Jinong	$	-		$	-
Gufeng		156,479			176,675
Consolidated	$	156,479		$	176,675
Capital Expenditure:
Jinong	$	765,309		$	553,899
Gufeng		24,341			209,432
Jintai		-			-
Yuxing		130,016			13,338
Consolidated	$	919,666		$	776,669
Identifiable assets:	As of 09/30/11			As of 06/30/11
Jinong	$	148,228,969		$	111,956,641
Gufeng		62,126,720			67,260,447
Jintai		14,025,203			14,001,793
Yuxing		25,359,538			24,354,406
Reconciling item (1)		802,605			969,963
Reconciling item (2)		(269,213	)		4,827,737
Consolidated	$	250,273,822		$	223,370,987

(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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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash flows from operating activities
Net income	$ 10,731,636	$ 7,787,785
Adjustments to reconcile net income to net cash used in operating activities
Issuance of equity for compensation	557,192	644,075
Depreciation	1,132,399	852,693
Amortization	331,502	81,143
Decrease / (Increase) in current assets, net of effects from acquisitions:
Accounts receivable	(6,387,104)	(383,146)
Other receivables	(235,450)	16,653
Inventories	(12,195,943)	2,345,622
Advances to suppliers	(1,213,600)	(15,847,463)
Other assets	(98,716)	(296,554)
(Decrease) / Increase in current liabilities, net of effects from acquisitions:
Accounts payable	1,316,676	(3,972,787)
Unearned revenue	97,505	3,347,743
Tax payables	2,461,823	1,750,338
Other payables and accrued expenses	1,493,111	(23,333)
Net cash used in operating activities	(2,008,969)	(3,697,231)
Cash flows from investing activities
Purchase of plant, property, and equipment	(828,035)	(776,669)
Acquisition of Gufeng, net of cash acquired	0	(6,720,539)
Construction in progress	(91,631)	(141,985)
Net cash used in investing activities	(919,666)	(7,639,193)
Cash flows from financing activities
Proceeds from loans	8,010,765	2,240,468
Net cash provided by financing activities	8,010,765	2,240,468
Effect of exchange rate change on cash and cash equivalents	645,368	707,613
Net increase (decrease) in cash and cash equivalents	5,727,498	(8,388,343)
Cash and cash equivalents, beginning balance	65,606,413	62,335,437
Cash and cash equivalents, ending balance	71,333,911	53,947,094
Supplement disclosure of cash flow information
Interest expense paid	148,101	179,941
Income taxes paid	$ 7,664	$ 11,738

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OTHER CURRENT ASSETS

3 Months Ended

Sep. 30, 2011

Disclosure Text Block Supplement [Abstract]

Other Assets Disclosure [Text Block]

NOTE 5 – OTHER CURRENT ASSETS

Other current assets are comprised of the following:

	September 30, 2011		June 30, 2011
Advancement	$	499,688	$	530,459
Prepaid insurance		275,000		6,667
Total	$	774,688	$	537,126

Advancement represents advances made to non-related parties and prepaid insurance to employees. The amounts were unsecured, interest free, and due on demand. Prepaid insurance is related to the underwriting of the Company’s directors and officers insurance policy.

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SIGNIFICANT RISKS AND UNCERTAINTIES INCLUDING BUSINESS AND CREDIT CONCENTRATIONS AND LITIGIATION

3 Months Ended

Sep. 30, 2011

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

NOTE 15 – SIGNIFICANT RISKS AND UNCERTAINTIES INCLUDING BUSINESS AND CREDIT CONCENTRATIONS AND LITIGIATION

Market Concentration

All of the Company's revenue-generated operations are all conducted in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC, and by the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company's results may be adversely affected by, among other things, changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation.

Vendor and Customer Concentration

There was no vendor from which the Company purchased more than 10% of its raw materials for the fertilizer products for the three months ended September 30, 2011. There is no accounts payable to such vendor as of September 30, 2011.

There was no customer that accounted over 10% of the total sales of fertilizer products as of three months ended September 30, 2011 and September 30, 2010.

Concentration of Cash

The Company maintains large sums of cash in three major banks in China. The aggregate balance in such accounts as of September 30, 2011 was $71,074,519. There is no insurance securing these deposits in China. In addition, the Company also had $262,299 in cash in two banks in the United States as of September 30, 2011, with $500,000 secured by the U.S. Federal Deposit Insurance Corporation.

Litigation

On October 15, 2010, a class action lawsuit was filed against the Company and certain of its current and former officers in the United States District Court for the District of Nevada on behalf of purchasers of the Company’s common stock between November 12, 2009 and September 1, 2010. On April 27, 2011, the court appointed the lead plaintiff and lead plaintiff’s counsel. On June 13, 2011, lead plaintiff filed an amended complaint, which adds several additional defendants and expands the class period to include purchasers who purchased our common stock between May 12, 2009 and January 4, 2011. The amended complaint alleges that the Company and certain of its current and former officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, as amended, by making material misstatements and omissions in the Company’s financial statements, securities offering documents, and related disclosures during the class period. The plaintiffs claim that such allegedly misleading statements inflated the price of the Company’s common stock and seek monetary damages in an amount to be determined at trial. By stipulation of the parties, defendants’ response to the amended complaint is due October 7, 2011. Lead plaintiff filed an amended complaint on June 13, 2011. Defendants moved to dismiss the amended complaint on September 19, 2011. No hearing has been set for defendants’ motions.

On December 10, 2010, a derivative complaint was filed by a shareholder, purportedly on the Company’s behalf, against certain of the Company’s current and former officers and directors in the First Judicial District Court of the State of Nevada in and for Carson City. The complaint alleges, among other things, various violations of state law by such officers and directors, including breach of fiduciary duty, waste of corporate assets, and unjust enrichment. The plaintiff requests, among other remedies, restitution from such officers and directors and reform to the Company’s corporate governance and internal procedures.

On January 5, 2011, a second derivative complaint was filed by two shareholders, purportedly on the Company’s behalf, against, among others, certain of the Company’s current and former officers and directors, in the United States District Court, District of Columbia. By stipulation of the parties, this case has been transferred to the District Court for the District of Nevada. This complaint alleges, among other things, that such officers and directors breached their fiduciary duties by knowingly filing inaccurate and inconsistent financial statements and other filings with the Commission and by failing to correct such allegedly inaccurate financial disclosure. The plaintiffs request, among other remedies, damages in the amount sustained by the defendants’ alleged breach of fiduciary duties and other violations of law, and other equitable relief.

On January 12, 2011, two additional derivative complaints were filed by different shareholders, purportedly on the Company’s behalf, against certain of the Company’s current and former officers and directors, in the Eighth Judicial District Court, Clark County, Nevada. Each of the complaints alleges, among other things, that defendants breached their fiduciary duties by disseminating false and misleading information to shareholders via public filings and other communications, failing to maintain internal controls and procedures and failing to properly oversee and manage the Company. Each of the complaints also alleges unjust enrichment, abuse of control, gross mismanagement and waste of corporate assets by the defendants. The plaintiffs request, among other remedies, damages caused by the breach of defendants’ fiduciary duties, restitution from such officers and directors and reform to the Company’s corporate governance and internal procedures. By stipulation, these two derivative actions have been transferred to the First Judicial District Court of the State of Nevada in and for Carson City and consolidated with the derivative action already pending in that court. By stipulation of the parties, all of the derivative actions are currently stayed.

The individual defendants and the Company, as a nominal defendant, have reached an agreement in principle with the plaintiffs to settle all the derivative actions. Pursuant to the terms of the settlement and subject to court approval, certain corporate governance changes will be adopted and attorneys’ fees for the plaintiffs’ counsel will be paid by the insurers. The preliminary approval hearing for the settlement is currently set for December 14, 2011.

In addition, the Commission is conducting an investigation of the Company’s prior reported financial statements, as well as the allegations in the complaints described above. The Company is cooperating with the Commission.

The Company is currently unable to reasonably estimate the amount or range of possible losses that will result from the ultimate resolution of these matters. As such, as of September 30, 2011, the Company has not accrued any liability in connection with potential losses from legal proceedings.