SEGMENT REPORTING

9 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 15 – SEGMENT REPORTING

As of March 31, 2014, the Company was organized into three main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), and Yuxing (agricultural products production). Each of the three 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. Jintai’s business is in the migrating process into Yuxing’s.

	Three months ended March 31,				Nine months ended March 31,
Revenues from unaffiliated customers:	2014		2013		2014		2013
Jinong	$	30,210,579	$	27,051,929	$	88,261,203	$	77,857,756
Gufeng		39,080,111		37,690,762		70,318,209		66,612,586
Yuxing		1,005,291		1,129,842		2,654,517		2,645,923
Consolidated	$	70,295,981	$	65,872,533	$	161,233,929	$	147,116,265
Operating income :
Jinong	$	5,487,505	$	11,406,985	$	23,924,484	$	31,418,916
Gufeng		6,355,545		5,642,544		12,059,529		8,821,041
Yuxing		111,507		171,500		218,049		260,155
Reconciling item (1)		0		0		0		0
Reconciling item (2)		(203,393)		(256,110)		(834,439)		(738,343)
Reconciling item (2)—stock compensation		(1,833,997)		(440,508)		(6,638,246)		(2,315,036)
Consolidated	$	9,917,167	$	16,524,411	$	28,729,377	$	37,446,733
Net income:
Jinong	$	4,658,433	$	9,756,153	$	20,317,816	$	26,893,836
Gufeng		4,419,560		4,178,836		8,142,956		5,848,880
Yuxing		168,523		172,275		275,229		823,911
Reconciling item (1)		5		13		9		139
Reconciling item (2)		(2,037,390)		(696,618)		(7,472,685)		(3,053,379)
Consolidated	$	7,209,131	$	13,410,659	$	21,263,325	$	30,513,387
Depreciation and Amortization:
Jinong	$	6,333,478	$	1,990,178	$	19,808,803	$	6,449,763
Gufeng		924,689		1,709,328		2,521,225		2,634,409
Yuxing		336,211		316,700		997,536		946,263
Consolidated	$	7,594,378	$	4,016,206	$	23,327,564	$	10,030,435
Interest expense:
Gufeng		472,104		298,455		1,009,528		1,050,694
Consolidated	$	472,104	$	298,455	$	1,009,528	$	1,050,694
Capital Expenditure:
Jinong	$	24,306	$	6,275,253	$	63,830	$	15,601,870
Gufeng		70,257		31,271		81,036		(876,682)
Yuxing		10,974		(134,467)		982,591		102,424
Consolidated	$	105,538	$	6,172,057	$	1,127,458	$	14,827,612

	As of		As of
	March 31,		June 30,
	2014		2013
Identifiable assets:
Jinong	$	200,472,838	$	197,232,555
Gufeng		135,622,233		108,409,694
Yuxing		43,680,405		43,021,886
Reconciling item (1)		76,081		68,113
Reconciling item (2)		(3,906)		(3,906)
Consolidated	$	379,847,651	$	348,728,342

(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.