Segment Reporting

9 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 15 – SEGMENT REPORTING

As of March 31, 2023, 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			Nine Months Ended			Nine Months Ended
	March 31, 2023			March 31, 2022			March 31, 2023			March 31, 2022
Revenues from unaffiliated customers:
Jinong	$	9,606,177		$	13,385,022		$	31,596,928		$	43,513,283
Gufeng		33,457,644			45,205,467			57,886,184			81,567,133
Yuxing		2,198,139			2,548,383			7,915,380			8,256,480
Consolidated	$	45,261,960		$	61,138,872		$	97,398,492		$	133,336,896
Operating income (loss):
Jinong	$	(1,687,189	)	$	(5,300,141	)	$	(2,365,810	)	$	(11,587,451	)
Gufeng		2,491,007			(26,737,974	)		279,915			(56,636,587	)
Yuxing		127,971			143,158			512,218			460,517
Reconciling item (1)		(745,911	)		(78,453	)		(2,457,744	)		(579,382	)
Consolidated	$	185,878		$	(31,973,410	)	$	(4,031,421	)	$	(68,342,903	)
Net income (loss):
Jinong	$	(1,639,160	)	$	(5,243,617	)	$	(2,209,588	)	$	(11,449,612	)
Gufeng		2,449,880			(26,790,346	)		113,257			(56,904,522	)
Yuxing		127,272			204,488			621,448			601,492
		-			-			-			-
Reconciling item (1)		25			946			72			951
Reconciling item (2)		(745,911	)		(78,455	)		(2,457,743	)		(1,166,578	)
Reconciling item (3)		0			11,811,725			0			1,762,866
Consolidated	$	192,105		$	(20,095,260	)	$	(3,932,555	)	$	(67,155,404	)
Depreciation and Amortization:
Jinong	$	199,812		$	211,645		$	589,916		$	629,332
Gufeng		193,155			207,187			573,201			617,578
Yuxing		194,903			324,846			649,776			968,799
Consolidated	$	587,869		$	743,677		$	1,812,893		$	2,215,708
Interest expense:
Jinong		25,359			-			50,486			-
Gufeng		41,049			65,278			165,905			203,707
Yuxing		-			-			-			-
Consolidated	$	66,408		$	65,278		$	216,391		$	203,707
Capital Expenditure:
Jinong	$	1,244		$	8,139		$	35,334		$	29,411
Gufeng		1,375			121			217,480			29,542
Yuxing		1,207			854			56,700			33,978
Consolidated	$	3,825		$	9,115		$	309,514		$	92,931

	As of
	March 31,		June 30,
	2023		2022
Identifiable assets:
Jinong	$	99,600,549	$	100,958,241
Gufeng		58,810,617		80,923,101
Yuxing		40,380,357		40,132,337
Reconciling item (1)		7,807,722		(27,064,606	)
Reconciling item (2)		166,121		166,121
Consolidated	$	206,765,365	$	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