Segment Reporting

9 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 14 – SEGMENT REPORTING

The Company is 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			Three Months Ended			Nine Months Ended			Nine Months Ended
	2020			2019			2020			2019
Revenues from unaffiliated customers:
Jinong	$	11,266,437		$	22,077,336		$	44,842,738		$	61,561,229
Gufeng		57,094,310			67,167,427			95,684,076			106,996,368
Yuxing		2,014,987			2,817,942			7,016,208			7,828,981
Sales VIEs		15,450,955			16,057,865			38,670,247			41,943,261
Consolidated	$	85,826,689		$	108,120,570		$	186,213,269		$	218,329,839
Operating income:
Jinong	$	(4,567,306	)	$	(2,210,904	)	$	(10,335,081	)	$	6,888,634
Gufeng		(44,325,347	)		7,111,832			(77,454,456	)		11,214,341
Yuxing		5,003			125,839			300,952			(3,477,668	)
Sales VIEs		812,350			2,821,741			5,653,582			9,201,792
Reconciling item (1)		-			-			-			-
Reconciling item (2)		(389,072	)		(399,196	)		(1,240,286	)		(1,363,180	)
Consolidated	$	(48,464,372	)	$	7,449,312		$	(83,075,289	)	$	22,463,919
Net income:
Jinong	$	(5,388,358	)	$	(1,980,471	)	$	(10,245,799	)	$	5,709,185
Gufeng		(44,538,320	)		5,260,432			(77,733,209	)		8,111,897
Yuxing		4,204			125,259			299,702			(3,478,089	)
Sales VIEs		89,265			2,111,941			4,312,975			7,668,280
Reconciling item (1)		(1	)		4			6			14
Reconciling item (2)		(389,072	)		(399,196	)		(1,240,286	)		(1,363,180	)
Reconciling item (3)		(28	)		(68	)		(12,379	)		(12,667	)
Consolidated	$	(50,222,309	)	$	5,117,901		$	(84,618,989	)	$	16,635,441
Depreciation and Amortization:
Jinong	$	190,739		$	199,460		$	572,587		$	592,424
Gufeng		521,051			542,033			1,557,909			1,607,957
Yuxing		296,863			307,835			886,512			912,554
Sales VIEs		182,658			188,309			526,096			558,892
Consolidated	$	1,172,886		$	1,237,638		$	3,543,104		$	3,671,827
Interest expense:
Jinong		59			70,000			25,659			207,758
Gufeng		76,248			75,621			215,241			250,127
Yuxing		-			-			-			-
Sales VIEs		(87,497	)		-			(164,594	)		-
Consolidated	$	(11,190	)	$	145,621		$	76,306		$	457,885
Capital Expenditure:
Jinong	$	57		$	781		$	25,005		$	4,273
Gufeng		698			394			698			45,998
Yuxing		268			726			25,852			8,825
Sales VIEs		14,654			-			14,654			-
Consolidated	$	15,677		$	1,901		$	66,210		$	59,096

	As of
	March 31,		June 30,
	2020		2019
Identifiable assets:
Jinong	$	113,770,025	$	149,166,251
Gufeng		195,938,075		253,149,321
Yuxing		35,184,546		35,900,242
Sales VIEs		49,854,815		42,269,307
Reconciling item (1)		361,138		518,158
Reconciling item (2)		166,121		(2,879	)
Consolidated	$	395,274,720	$	481,000,399

(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.