Segment Reporting

9 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 13 – SEGMENT REPORTING

As of March 31, 2017, 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). As of June 30, 2016, with the acquisition of the VIE Companies, the Company added a new distribution segment. 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 March 31,						Nine Months Ended  March 31,
Revenues from unaffiliated customers:	2017			2016			2017			2016
Jinong	$	26,316,821		$	31,602,239		$	84,570,215		$	97,612,604
Gufeng		30,858,499			43,762,058			67,734,572			85,576,564
Yuxing		2,781,003			3,274,177			6,590,728			6,599,577
VIES		21,349,305			-			43,039,748			-
Consolidated	$	81,305,628		$	78,638,474		$	201,935,263		$	189,788,745
Operating income :
Jinong	$	5,960,846		$	5,854,750		$	18,080,850		$	17,509,024
Gufeng		2,457,008			4,805,591			5,448,907			10,468,423
Yuxing		244,978			543,855			732,788			1,461,365
VIES		1,242,773			-			3,683,537			-
Reconciling item (1)		-			-			-			-
Reconciling item (2)		(209,917	)		(41,454	)		(209,917	)		(261,208	)
Reconciling item (2)--stock compensation		(1,801	)		(855,628	)		(1,858,071	)		(3,712,709	)
Consolidated	$	9,693,887		$	10,307,114		$	25,878,094		$	25,464,895
Net income:
Jinong	$	4,852,889		$	5,023,016		$	15,048,662		$	15,023,381
Gufeng		2,160,630			3,577,278			4,145,555			7,247,542
Yuxing		245,239			548,559			732,828			1,467,943
VIES		1,144,635			-			3,190,209			-
Reconciling item (1)		-			-			-			29
Reconciling item (2)		(211,718	)		(897,082	)		(2,067,988	)		(3,973,917	)
Consolidated	$	8,191,675		$	8,251,771		$	21,049,266		$	19,764,978
Depreciation and Amortization:
Jinong	$	1,764,443		$	8,723,607		$	11,752,674		$	28,015,696
Gufeng		578,525			747,160			1,836,875			2,221,221
Yuxing		302,729			328,956			922,855			1,008,697
VIES		159,942			-			409,144			-
Consolidated	$	2,805,639		$	9,799,723		$	14,921,548		$	31,245,614
Interest expense:
Jinong		188,003			-			301,355			-
Gufeng		44,636			211,734			163,075			943,413
Consolidated	$	232,639		$	211,734		$	464,430		$	943,413
Capital Expenditure:
Jinong	$	1,186		$	616		$	2,979		$	7,259
Gufeng		2,300			1,962			7,299			1,962
Yuxing		-			938			6,226			7,387
VIES		14,252			-			14,252			-
Consolidated	$	17,738		$	3,516		$	30,756		$	16,608

	As of
	March 31,			June 30,
	2017			2016
Identifiable assets:
Jinong	$	202,114,827		$	198,599,977
Gufeng		148,636,436			149,891,328
Yuxing		42,462,630			45,448,157
VIES		33,542,223			24,675,499
Reconciling item (1)		223,973			170,444
Reconciling item (2)		(2,878	)		(2,878	)
Consolidated	$	426,977,211		$	418,782,527

(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.