Segment Reporting

6 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

As of December 31, 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			Three Months Ended			Six Months Ended			Six Months Ended
	December 31, 2022			December 31, 2021			December 31, 2022			December 31, 2021
Revenues from unaffiliated customers:
Jinong	$	9,842,749		$	14,966,519		$	21,990,751		$	30,128,261
Gufeng		11,849,718			21,573,414			24,428,540			36,361,666
Yuxing		2,846,740			2,819,203			5,717,241			5,708,097
Consolidated	$	24,539,207		$	39,359,136		$	52,136,532		$	72,198,024
Operating income (loss):
Jinong	$	(1,598,264	)	$	(2,424,698	)	$	(678,621	)	$	(6,287,310	)
Gufeng		(1,547,362	)		(20,807,616	)		(2,211,092	)		(29,898,613	)
Yuxing		200,253			154,759			384,247			317,359
Reconciling item (1)		(734,266	)		(46,494	)		(1,711,833	)		(500,929	)
Consolidated	$	(3,679,639	)	$	(23,124,049	)	$	(4,217,299	)	$	(36,369,493	)
Net income (loss):
Jinong	$	(1,554,778	)	$	(2,387,078	)	$	(570,428	)	$	(6,205,995	)
Gufeng		(1,590,123	)		(20,950,605	)		(2,336,623	)		(30,114,176	)
Yuxing		282,590			235,065			494,176			397,004
		-			-			-			-
Reconciling item (1)		31			2			47			6
Reconciling item (2)		(734,266	)		(563,224	)		(1,711,832	)		(1,088,123	)
Reconciling item (3)		-			(8,317,097	)		-			(10,048,859	)
Consolidated	$	(3,596,545	)	$	(31,982,936	)	$	(4,124,660	)	$	(47,060,144	)
Depreciation and Amortization:
Jinong	$	191,858		$	210,294		$	390,103		$	417,687
Gufeng		186,394			205,818			380,047			410,392
Yuxing		184,594			323,648			454,874			643,953
Consolidated	$	562,846		$	739,760		$	1,225,024		$	1,472,031
Interest expense:
Jinong		25,127			-			25,127			-
Gufeng		42,612			66,418			124,856			138,429
Yuxing		-			-			-			-
Consolidated	$	67,739		$	66,418		$	149,983		$	138,429
Capital Expenditure:
Jinong	$	30,329		$	5,308		$	34,091		$	21,272
Gufeng		(3,765	)		7,869			216,105			29,420
Yuxing		50,584			847			55,493			33,123
Consolidated	$	77,148		$	14,024		$	305,689		$	83,816

	As of
	December 31,		June 30,
	2022		2022
Identifiable assets:
Jinong	$	106,762,797	$	100,958,241
Gufeng		51,468,145		80,923,101
Yuxing		39,705,718		40,132,337
Reconciling item (1)		7,772,048		(27,064,606	)
Reconciling item (2)		166,121		166,121
Consolidated	$	205,874,829	$	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