SEGMENT REPORTING

12 Months Ended

Jun. 30, 2012

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 (agricultural products production). 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.

The following tables present a summary of our businesses’ and operating segments’ results.

	For the Year Ended June 30,
	2012			2011			2010
Revenues from unaffiliated customers:
Jinong	$	88,168,740		$	65,629,264		$	45,816,377
Gufeng		121,480,943			107,081,018			-
Jintai		5,792,002			6,826,933			6,274,375
Yuxing		2,082,520			180,750			-
Consolidated	$	217,524,205		$	179,717,966		$	52,090,752
Operating income :
Jinong	$	43,636,915		$	34,051,094		$	25,160,683
Gufeng		18,211,687			15,288,871			-
Jintai		(1,863,529	)		(96,343	)		2,640,016
Yuxing		(352,996	)		(296,832	)		(181,313
Reconciling item (1)		-			-			-
Reconciling item (2)		(2,482,232	)		(3,230,124	)		(997,316	)
Reconciling item (2)--stock compensation		(3,224,835	)		(3,605,235	)		(1,695,449	)
Consolidated	$	53,925,010		$	42,111,431		$	24,926,621
Net income:
Jinong	$	37,363,672		$	29,139,457		$	21,502,252
Gufeng		12,335,102			10,995,984			-
Jintai		(1,863,235	)		(96,244	)		2,640,233
Yuxing		(170,996	)		(293,914	)		(181,304	)
Reconciling item (1)		347			4,178			21,342
Reconciling item (2)		(5,707,065	)		(6,835,360	)		(2,692,765	)
Consolidated	$	41,957,825		$	32,914,101		$	21,289,758
Depreciation and Amortization:
Jinong	$	2,347,530		$	2,686,524		$	2,299,483
Gufeng		2,878,037			2,711,483			-
Jintai		128,563			124,139			119,973
Yuxing		638,736			226,112			178,661
Consolidated	$	5,992,866		$	5,748,258		$	2,598,117
Interest expense:
Jinong	$	-		$	-		$	112,475
Gufeng		1,590,620			466,912			-
Reconciling item (2)		-			-
Consolidated	$	1,590,620		$	466,912		$	112,475
Capital Expenditure:
Jinong	$	7,935,098		$	6,492,775		$	4,243,089
Gufeng		-			8,229,092			-
Jintai		-			3,291			180,686
Yuxing		3,948,849			11,521,005			12,100,919
Consolidated	$	11,883,947		$	26,246,163		$	16,524,694
Identifiable assets:
Jinong	$	221,575,406		$	111,956,641		$	103,519,520
Gufeng		57,657,305			67,260,447			-
Jintai		6,670,058			14,001,793			12,198,845
Yuxing		1,851,745			24,354,406			12,748,003
Reconciling item (1)		280,445			969,963			3,311,943
Reconciling item (2)		(3,906	)		4,827,737			9,631
Consolidated	$	288,031,053		$	223,370,987		$	131,787,942

(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 account for approximately 15.0% and 22% of our total fertilizer revenues in fiscal 2012 and 2011. Revenues generated from exported products were less than 1% of the Company’s total fertilizer revenues in fiscal 2010, prior to the Company’s acquisition of Gufeng.

FY2012 Export Details

Export to	Subsidiary	Type	Amount ($)
India	Gufeng	40% humic acid organic/inorganic fertilizer		31,330,724
India	Jinong	Liquid Fertilizer		77,576
India	Jinong	Solid Fertilizer		60,538
Ghana	Jinong	Liquid Fertilizer		75,984
Total				31,544,822

FY2011 Export Details

Export to	Subsidiary	Type	Amount ($)
India	Gufeng	Blended Compound Fertilizer		40,835,834
India	Jinong	Liquid Fertilizer		42,581
India	Jinong	Solid Fertilizer		38,479
Ecuador	Jinong	Liquid Fertilizer		3,740
Surinam	Jinong	Liquid Fertilizer		1,159
Total				40,921,793