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Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Sales        
Net sales $ 45,261,960 $ 61,138,872 $ 97,398,492 $ 133,336,896
Cost of goods sold        
Cost of goods sold 37,886,004 51,400,981 80,323,310 110,249,746
Gross profit 7,375,956 9,737,891 17,075,182 23,087,150
Operating expenses        
Selling expenses 1,958,455 2,348,169 6,054,463 8,744,473
General and administrative expenses 5,234,123 39,363,132 15,054,640 82,685,580
Total operating expenses 7,192,578 41,711,301 21,109,103 91,430,053
(Loss) from operations 183,378 (31,973,410) (4,033,921) (68,342,903)
Other income (expense)        
Other (expense) 5,538 1,389,374 115,399 1,848,889
Interest income 67,097 53,634 199,858 129,512
Interest expense (66,408) (65,278) (216,391) (203,707)
Total other (expense) 6,227 1,377,730 98,866 1,774,694
Income (Loss) from continuing operations before income taxes 189,605 (30,595,680) (3,935,055) (66,568,209)
Provision for income taxes 587,195
Income (Loss) from continuing operations 189,605 (30,595,680) (3,935,055) (67,155,404)
Net (loss) from discontinued operations, net of taxes (7,483,147) (17,983,567)
Net income (loss) 189,605 (38,078,827) (3,935,055) (85,138,971)
Other comprehensive income (loss)        
Foreign currency translation gain (loss) 792,281 (188,874) (4,040,988) 3,530,313
comprehensive income (loss) $ 981,886 $ (38,267,701) $ (7,976,043) $ (81,608,658)
Basic weighted average shares outstanding (in Shares) 13,380,914 8,487,629 13,204,768 8,487,629
Basic net earnings per share – from continuing operations (in Dollars per share) $ 0.02 $ (3.6) $ (0.3) $ (7.91)
Basic net earnings per share – from discontinued operations (in Dollars per share) (0.88) (2.12)
Basic net earnings per share (in Dollars per share) $ 0.02 $ (4.49) $ (0.3) $ (10.03)
Diluted weighted average shares outstanding (in Shares) 13,380,914 8,487,629 13,204,768 8,487,629
Diluted net earnings per share – from continuing operations (in Dollars per share) $ 0.02 $ (3.6) $ (0.3) $ (7.91)
Diluted net earnings per share – from discontinued operations (in Dollars per share) (0.88) (2.12)
Diluted net earnings per share (in Dollars per share) $ 0.02 $ (4.49) $ (0.3) $ (10.03)
Jinong        
Sales        
Net sales $ 9,606,177 $ 13,385,022 $ 31,596,928 $ 43,513,283
Cost of goods sold        
Cost of goods sold 6,851,488 9,729,576 22,763,780 31,812,503
Gufeng        
Sales        
Net sales 33,457,644 45,205,467 57,886,185 81,567,133
Cost of goods sold        
Cost of goods sold 29,268,662 39,522,883 51,001,151 71,525,033
Yuxing        
Sales        
Net sales 2,198,139 2,548,383 7,915,379 8,256,480
Cost of goods sold        
Cost of goods sold $ 1,765,854 $ 2,148,522 $ 6,558,379 $ 6,912,210