Segment Reporting

3 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

As of September 30, 2022, 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). Each of the three 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 September 30,
Revenues from unaffiliated customers:	2022			2021
Jinong	$	12,148,002		$	15,161,742
Gufeng		12,578,822			14,788,252
Yuxing		2,870,501			2,888,894
Consolidated	$	27,597,325			32,838,888
Operating income (expense):
Jinong	$	919,643		$	(3,862,612	)
Gufeng		(663,730	)		(9,090,997	)
Yuxing		183,994			162,600
Reconciling item (1)		(977,567	)		(454,436	)
Consolidated	$	(537,660	)	$	(13,245,445	)
Net income (loss):
Jinong	$	984,350		$	(3,818,917	)
Gufeng		(746,500	)		(9,163,571	)
Yuxing		211,586			161,939
Reconciling item (1)		16			3
Reconciling item (2)		(977,566	)		(524,900	)
Reconciling item (3)		-			(1,731,762	)
Consolidated	$	(528,114	)	$	(15,077,208	)
Depreciation and Amortization:
Jinong	$	198,245		$	207,393
Gufeng		193,653			204,574
Yuxing		270,280			320,305
Consolidated	$	662,177		$	732,272
Interest expense:
Jinong		-			-
Gufeng		82,244			72,011
Yuxing		-			-
Consolidated	$	82,244		$	72,011
Capital Expenditure:
Jinong	$	3,762		$	15,964
Gufeng		219,870			21,551
Yuxing		4,909			32,277
Consolidated	$	228,541		$	69,792

	As of
	September 30,		June 30,
	2022		2022
Identifiable assets:
Jinong	$	103,720,937	$	100,958,241
Gufeng		49,467,007		80,923,101
Yuxing		37,969,125		40,132,337
Reconciling item (1)		7,519,080		(27,064,606	)
Reconciling item (2)		166,121		166,121
Consolidated	$	198,842,270	$	195,115,195

(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) The comparative numbers are excluding discontinued entities