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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
Sales        
Net sales $ 61,138,872 $ 67,312,632 $ 133,336,896 $ 140,114,099
Cost of goods sold        
Cost of goods sold 51,400,981 55,964,461 110,249,746 115,578,510
Gross profit 9,737,891 11,348,171 23,087,150 24,535,589
Operating expenses        
Selling expenses 2,348,169 2,728,022 8,744,473 9,924,316
General and administrative expenses 39,363,132 24,509,953 82,685,580 97,067,252
Total operating expenses 41,711,301 27,237,975 91,430,053 106,991,568
(Loss) from operations (31,973,410) (15,889,804) (68,342,903) (82,455,979)
Other income (expense)        
Other (expense) 1,389,374 342 1,848,889 (56,984)
Interest income 53,634 18,671 129,512 61,144
Interest expense (65,278) (57,316) (203,707) (181,269)
Total other (expense) 1,377,730 (38,303) 1,774,694 (177,109)
(Loss) from continuing operations before income taxes (30,595,680) (15,928,107) (66,568,209) (82,633,088)
Provision for income taxes (90,064) 587,195 2,460,523
(Loss) from continuing operations (30,595,680) (15,838,043) (67,155,404) (85,093,611)
Net income (loss) from discontinued operations, net of taxes (7,483,147) 1,023,254 (17,983,567) (710,755)
Net (loss) (38,078,827) (14,814,789) (85,138,971) (85,804,366)
Other comprehensive income (loss)        
Foreign currency translation gain (loss) (188,874) (59,215) 3,530,313 25,336,321
comprehensive income (loss) $ (38,267,701) $ (14,874,004) $ (81,608,658) $ (60,468,044)
Basic weighted average shares outstanding (in Shares) 8,487,629 6,350,129 8,487,629 6,350,129
Basic net earnings per share – from continuing operations (in Dollars per share) $ (3.6) $ (2.49) $ (7.91) $ (13.4)
Basic net earnings per share – from discontinued operations (in Dollars per share) (0.88) 0.16 (2.12) (0.11)
Basic net earnings per share (in Dollars per share) $ (4.49) $ (2.33) $ (10.03) $ (13.51)
Diluted weighted average shares outstanding (in Shares) 8,487,629 6,350,129 8,487,629 6,350,129
Diluted net earnings per share – from continuing operations (in Dollars per share) $ (3.6) $ (2.49) $ (7.91) $ (13.4)
Diluted net earnings per share – from discontinued operations (in Dollars per share) (0.88) 0.16 (2.12) (0.11)
Diluted net earnings per share (in Dollars per share) $ (4.49) $ (2.33) $ (10.03) $ (13.51)
Jinong        
Sales        
Net sales $ 13,385,022 $ 15,818,610 $ 43,513,283 $ 45,249,797
Cost of goods sold        
Cost of goods sold 9,729,576 11,543,109 31,812,503 33,149,990
Gufeng        
Sales        
Net sales 45,205,467 48,438,434 81,567,133 86,703,031
Cost of goods sold        
Cost of goods sold 39,522,883 41,979,484 71,525,033 75,803,724
Yuxing        
Sales        
Net sales 2,548,383 3,055,588 8,256,480 8,161,271
Cost of goods sold        
Cost of goods sold $ 2,148,522 $ 2,441,868 $ 6,912,210 $ 6,624,796