Segment Reporting

6 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 14 - SEGMENT REPORTING

As of December 31, 2017, the Company was organized into four main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), Yuxing (agricultural products production) and the sales VIEs. 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 December 31,						Six Months Ended December 31,
Revenues from unaffiliated customers:	2017			2016			2017			2016
Jinong	$	26,211,280		$	26,825,674		$	52,985,040		$	58,253,394
Gufeng		24,447,721			21,066,559			42,669,787			36,876,073
Yuxing		1,953,748			2,454,314			3,746,391			3,809,725
Sales VIEs		11,350,893			8,398,466			27,330,927			21,690,443
Consolidated	$	63,963,642		$	58,745,013		$	126,732,145		$	120,629,635
Operating income :
Jinong	$	5,577,154		$	5,740,784		$	12,343,229		$	12,120,004
Gufeng		2,549,525			1,906,816			4,655,738			2,991,899
Yuxing		222,275			330,780			397,748			487,810
Sales VIEs		2,012,999			637,284			79,630			2,440,764
Reconciling item (1)		(2	)		0			0			0
Reconciling item (2)		(432,753	)		(1,510,148	)		(630,772	)		(1,856,270	)
Consolidated	$	9,929,199		$	7,105,516		$	16,845,574		$	16,184,207
Net income:
Jinong	$	4,719,159		$	4,849,485		$	10,460,249		$	10,195,773
Gufeng		1,727,764			1,268,439			3,216,831			1,984,925
Yuxing		222,869			330,509			398,491			487,589
Sales VIEs		1,914,125			567,726			(198,809	)		2,045,574
Reconciling item (1)		2			0			3			0
Reconciling item (2)		(432,753	)		(1,510,148	)		(630,772	)		(1,856,270	)
Reconciling item (3)		(325,058	)		0			(325,058	)
Consolidated	$	7,826,108		$	5,506,011		$	12,920,936		$	12,857,591
Depreciation and Amortization:
Jinong	$	422,383		$	3,675,142		$	1,276,126		$	9,988,231
Gufeng		552,299			631,041			1,100,057			1,258,350
Yuxing		315,282			306,210			627,801			620,126
Sales VIEs		210,482			123,070			430,405			249,202
Consolidated	$	1,500,446		$	4,735,463		$	3,434,389		$	12,115,909
Interest expense:
Jinong		71,447			55,979			142,283			113,352
Gufeng		101,645			58,306			206,368			118,439
Yuxing		0			0			0			0
Sales VIEs		(78,505	)		0			(74,489	)		0
Consolidated	$	94,587		$	114,285		$	274,162		$	231,791
Capital Expenditure:
Jinong	$	808		$	571		$	4,149		$	1,793
Gufeng		297			556			14,165			4,999
Yuxing		4,773			0			4,773			548
Sales VIEs		0			0			0			0
Consolidated	$	5,878		$	1,127		$	23,086		$	7,340

	As of
	December 31,			June 30,
	2017			2017
Identifiable assets:
Jinong	$	230,059,040		$	213,355,900
Gufeng		162,568,545			156,648,924
Yuxing		41,487,750			40,965,345
Sales VIEs		43,643,613			44,571,422
Reconciling item (1)		467,218			142,918
Reconciling item (2)		(2,879	)		(2,879	)
Consolidated	$	478,223,287		$	455,681,630

(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.

(3) Reconciling amounts refer to the expenses of discontinuation of VIE agreement with Zhenbai.