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Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Sales        
Net sales $ 85,826,689 $ 108,120,570 $ 186,213,269 $ 218,329,839
Cost of goods sold        
Cost of goods sold 73,209,255 86,963,595 151,616,103 168,458,999
Gross profit 12,617,434 21,156,975 34,597,166 49,870,840
Operating expenses        
Selling expenses 2,273,818 6,880,994 9,761,145 18,370,524
General and administrative expenses 58,807,987 6,826,669 107,911,310 9,036,397
Total operating expenses 61,081,805 13,707,663 117,672,455 27,406,921
Income from operations (48,464,371) 7,449,312 (83,075,289) 22,463,919
Other income (expense)        
Other income (expense) (18,558) (101,350) (122,012) (327,433)
Interest income 53,943 55,168 160,829 278,509
Interest expense (76,306) (145,621) (241,004) (457,885)
Total other income (expense) (40,921) (191,803) (202,187) (506,809)
Income before income taxes (48,505,292) 7,257,509 (83,277,476) 21,957,110
Provision for income taxes 1,717,017 2,139,610 1,341,513 5,321,671
Net income (50,222,309) 5,117,899 (84,618,989) 16,635,439
Other comprehensive income (loss)        
Foreign currency translation gain (loss) (6,753,216) 10,564,053 (13,789,719) (5,895,808)
Comprehensive income (loss) $ (56,975,525) $ 15,681,952 $ (98,408,708) $ 10,739,631
Basic weighted average shares outstanding 6,143,159 3,295,579 5,371,420 3,263,751
Basic net earnings per share $ (8.18) $ 1.55 $ (15.75) $ 5.1
Diluted weighted average shares outstanding 6,143,159 3,295,579 5,371,420 3,263,751
Diluted net earnings per share $ (8.18) $ 1.55 $ (15.75) $ 5.1
Jinong        
Sales        
Net sales $ 11,266,437 $ 22,077,336 $ 44,842,738 $ 61,561,229
Cost of goods sold        
Cost of goods sold 8,193,579 11,091,419 28,814,001 31,289,473
Gufeng        
Sales        
Net sales 57,094,310 67,167,427 95,684,076 106,996,368
Cost of goods sold        
Cost of goods sold 50,097,056 59,475,263 84,307,031 94,544,943
Yuxing        
Sales        
Net sales 2,014,987 2,817,942 7,016,208 7,828,981
Cost of goods sold        
Cost of goods sold 1,847,112 2,445,246 6,009,429 6,658,975
VIEs - others        
Sales        
Net sales 15,450,955 16,057,865 38,670,247 41,943,261
Cost of goods sold        
Cost of goods sold $ 13,071,508 $ 13,951,667 $ 32,485,642 $ 35,965,608