S&W Seed (SANW) 10-Q 14 Feb 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2023	Feb. 07, 2024
Cover [Abstract]
Entity Registrant Name	S&W SEED CO
Entity Central Index Key	0001477246
Document Type	10-Q
Document Period End Date	Dec. 31, 2023
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity File Number	001-34719
Entity Tax Identification Number	27-1275784
Entity Address, Address Line One	2101 Ken Pratt Blvd
Entity Address, Address Line Two	Suite 201
Entity Address, City or Town	Longmont
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80501
City Area Code	720
Local Phone Number	506-9191
Entity Common Stock, Shares Outstanding		43,314,975
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Trading Symbol	SANW
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NV
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Jun. 30, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 1,114,370	$ 3,398,793
Accounts receivable, net	19,983,583	24,622,727
Notes receivable, net	6,974,357	6,846,897
Inventories, net	46,008,080	45,098,268
Prepaid expenses and other current assets	2,974,177	4,099,027
TOTAL CURRENT ASSETS	77,054,567	84,065,712
Property, plant and equipment, net	10,350,887	10,082,168
Intellectual property, net	20,958,076	21,650,534
Other intangibles, net	7,808,412	8,082,325
Right of use assets - operating leases	2,825,742	2,983,303
Equity method investments	21,624,643	23,059,705
Other assets	3,051,182	2,066,081
TOTAL ASSETS	143,673,509	151,989,828
CURRENT LIABILITIES
Accounts payable	14,891,078	13,312,180
Deferred revenue	5,504,204	464,707
Accrued expenses and other current liabilities	6,004,829	8,804,456
Current portion of working capital lines of credit, net	43,597,213	44,900,779
Current portion of long-term debt, net	4,445,442	3,808,761
TOTAL CURRENT LIABILITIES	74,442,766	71,290,883
Long-term debt, net, less current portion	4,862,340	4,499,334
Other non-current liabilities	2,063,641	2,102,030
TOTAL LIABILITIES	81,368,747	77,892,247
MEZZANINE EQUITY
Preferred stock, $0.001 par value; 3,323 shares authorized; 1,695 issued and outstanding at December 31, 2023 and June 30, 2023	5,518,624	5,274,148
STOCKHOLDERS' EQUITY
Common stock, $0.001 par value; 75,000,000 shares authorized; 43,317,044 issued and 43,292,044 outstanding at December 31, 2023; 43,004,011 issued and 42,979,011 outstanding at June 30, 2023	43,317	43,004
Treasury stock, at cost, 25,000 shares	(134,196)	(134,196)
Additional paid-in capital	168,270,300	167,768,104
Accumulated deficit	(104,595,765)	(91,932,808)
Accumulated other comprehensive loss	(6,832,156)	(6,987,791)
Non-controlling interests	34,638	67,120
TOTAL STOCKHOLDERS' EQUITY	56,786,138	68,823,433
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	143,673,509	151,989,828
MEZZANINE EQUITY
MEZZANINE EQUITY
Preferred stock, $0.001 par value; 3,323 shares authorized; 1,695 issued and outstanding at December 31, 2023 and June 30, 2023	$ 5,518,624	$ 5,274,148

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Jun. 30, 2023
STOCKHOLDERS' EQUITY
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	43,317,044	43,004,011
Common stock, shares outstanding	43,292,044	42,979,011
Treasury stock, Shares	25,000	25,000
MEZZANINE EQUITY
SERIES B CONVERTIBLE PREFERRED STOCK
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	3,323	3,323
Preferred stock, shares issued	1,695	1,695
Preferred stock, shares outstanding	1,695	1,695

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 10,864,809	$ 12,937,802	$ 27,297,275	$ 32,803,667
Cost of revenue	7,575,685	10,188,511	18,996,837	25,549,865
Gross profit	3,289,124	2,749,291	8,300,438	7,253,802
Operating expenses
Selling, general and administrative expenses	5,892,922	6,242,212	11,679,502	11,298,469
Research and development expenses	994,648	1,503,473	2,081,160	3,018,853
Depreciation and amortization	1,076,019	1,253,904	2,145,042	2,590,338
Gain on disposal of property, plant and equipment	(68,734)	(751)	(101,690)	(4,411)
Total operating expenses	7,894,855	8,998,838	15,804,014	16,903,249
Loss from operations	(4,605,731)	(6,249,547)	(7,503,576)	(9,649,447)
Other (income) expense
Foreign currency loss	244,298	176,624	616,486	367,539
Gain on sale of equity investment	0	(32,030)	0	(32,030)
Gain on disposal of intangible assets	0	(1,796,252)	0	(1,796,252)
Interest expense - amortization of debt discount	446,017	578,112	901,591	861,755
Interest expense, net	1,337,992	1,092,327	2,743,759	1,879,006
Other (income) expenses	(59,336)	546	(96,896)	(43,724)
Loss before income taxes	(6,574,702)	(6,268,874)	(11,668,516)	(10,885,741)
Provision for (benefit from) income taxes	(756,985)	(282,296)	(755,778)	(383,960)
Loss before equity in net earnings of affiliates	(5,817,717)	(5,986,578)	(10,912,738)	(10,501,781)
Equity in loss of equity method investees, net of tax	676,329	4,015	1,538,225	4,015
Net loss	(6,494,046)	(5,990,593)	(12,450,963)	(10,505,796)
Loss attributable to non-controlling interests	(25,194)	(4,588)	(32,482)	(10,850)
Net loss attributable to S&W Seed Company	(6,468,852)	(5,986,005)	(12,418,481)	(10,494,946)
Net loss attributable to S&W Seed Company	(6,468,852)	(5,986,005)	(12,418,481)	(10,494,946)
Dividends accrued for participating securities and accretion	(124,431)	(114,062)	(244,476)	(228,123)
Net loss attributable to common shareholders	$ (6,593,283)	$ (6,100,067)	$ (12,662,957)	$ (10,723,069)
Net loss attributable to S&W Seed Company per common share, basic and diluted
Basic	$ (0.15)	$ (0.14)	$ (0.29)	$ (0.25)
Diluted	$ (0.15)	$ (0.14)	$ (0.29)	$ (0.25)
Weighted average number of common shares outstanding:
Basic	43,091,438	42,651,270	43,050,329	42,627,645
Diluted	43,091,438	42,651,270	43,050,329	42,627,645

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net loss	$ (6,494,046)	$ (5,990,593)	$ (12,450,963)	$ (10,505,796)
Foreign currency translation adjustment, net of income taxes	316,614	539,520	155,635	(174,775)
Comprehensive loss	(6,177,432)	(5,451,073)	(12,295,328)	(10,680,571)
Comprehensive loss attributable to non-controlling interests	(25,194)	(4,588)	(32,482)	(10,850)
Comprehensive loss attributable to S&W Seed Company	$ (6,152,238)	$ (5,446,485)	$ (12,262,846)	$ (10,669,721)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Deficit	Noncontrolling Interests	Accumulated Other Comprehensive Loss
Mezzanine Equity Beginning Balance, amount at Jun. 30, 2022	$ 4,804,819	$ 4,804,819
Mezzanine Equity Beginning Balance, shares at Jun. 30, 2022		1,695
Beginning Balance, amount at Jun. 30, 2022	51,408,669		$ 42,609	$ (134,196)	$ 163,892,575	$ (105,873,557)	$ 41,838	$ (6,560,600)
Beginning Balance, shares at Jun. 30, 2022			42,608,758	(25,000)
Stock-based compensation, amount	762,006				762,006
Mezzanine equity series B detachable warrant	51,676	$ 51,676
Series B detachable warrant	(51,676)					(51,676)
Mezzanine equity accrued dividends on Series B convertible preferred stock	176,447	176,447
Accrued dividends on Series B convertible preferred stock	(176,447)					(176,447)
Net issuance to settle RSUs, amount	(12,949)		$ 179		(13,128)
Net issuance to settle RSUs, shares			179,665
Subordinated loan & security agreement warrants	802,901				802,901
Other comprehensive income (loss)	(174,775)							(174,775)
Net loss	(10,505,796)					(10,494,946)	(10,850)
Ending Balance, amount at Dec. 31, 2022	42,051,933		$ 42,788	$ (134,196)	165,444,354	(116,596,626)	30,988	(6,735,375)
Ending Balance, shares at Dec. 31, 2022			42,788,423	(25,000)
Mezzanine Equity Ending Balance, amount at Dec. 31, 2022		$ 5,032,942
Mezzanine Equity Ending Balance, shares at Dec. 31, 2022		1,695
Mezzanine Equity Beginning Balance, amount at Jun. 30, 2022	4,804,819	$ 4,804,819
Mezzanine Equity Beginning Balance, shares at Jun. 30, 2022		1,695
Beginning Balance, amount at Jun. 30, 2022	$ 51,408,669		$ 42,609	$ (134,196)	163,892,575	(105,873,557)	41,838	(6,560,600)
Beginning Balance, shares at Jun. 30, 2022			42,608,758	(25,000)
Issuance of common stock for cash upon exercise of stock options, shares	2,100
Mezzanine equity series B detachable warrant	$ 103,350
Mezzanine equity accrued dividends on Series B convertible preferred stock	365,979
Ending Balance, amount at Jun. 30, 2023	68,823,433		$ 43,004	$ (134,196)	167,768,104	(91,932,808)	67,120	(6,987,791)
Ending Balance, shares at Jun. 30, 2023			43,004,011	(25,000)
Mezzanine Equity Ending Balance, amount at Jun. 30, 2023	5,274,148	$ 5,274,148
Mezzanine Equity Ending Balance, shares at Jun. 30, 2023		1,695
Mezzanine Equity Beginning Balance, amount at Sep. 30, 2022		$ 4,918,880
Mezzanine Equity Beginning Balance, shares at Sep. 30, 2022		1,695
Beginning Balance, amount at Sep. 30, 2022	46,659,486		$ 42,633	$ (134,196)	164,486,927	(110,496,559)	35,576	(7,274,895)
Beginning Balance, shares at Sep. 30, 2022			42,632,585	(25,000)
Stock-based compensation, amount	305,894				305,894
Mezzanine equity series B detachable warrant		$ 25,838
Series B detachable warrant	(25,838)					(25,838)
Mezzanine equity accrued dividends on Series B convertible preferred stock	88,224	88,224
Accrued dividends on Series B convertible preferred stock	(88,224)					(88,224)
Net issuance to settle RSUs, amount	(4,739)		$ 155		(4,894)
Net issuance to settle RSUs, shares			155,838
Subordinated loan & security agreement warrants	656,427				656,427
Other comprehensive income (loss)	539,520							539,520
Net loss	(5,990,593)					(5,986,005)	(4,588)
Ending Balance, amount at Dec. 31, 2022	42,051,933		$ 42,788	$ (134,196)	165,444,354	(116,596,626)	30,988	(6,735,375)
Ending Balance, shares at Dec. 31, 2022			42,788,423	(25,000)
Mezzanine Equity Ending Balance, amount at Dec. 31, 2022		$ 5,032,942
Mezzanine Equity Ending Balance, shares at Dec. 31, 2022		1,695
Mezzanine Equity Beginning Balance, amount at Jun. 30, 2023	5,274,148	$ 5,274,148
Mezzanine Equity Beginning Balance, shares at Jun. 30, 2023		1,695
Beginning Balance, amount at Jun. 30, 2023	68,823,433		$ 43,004	$ (134,196)	167,768,104	(91,932,808)	67,120	(6,987,791)
Beginning Balance, shares at Jun. 30, 2023			43,004,011	(25,000)
Stock-based compensation, amount	695,147				695,147
Mezzanine equity series B detachable warrant	51,676	$ 51,676
Series B detachable warrant	(51,676)					(51,676)
Mezzanine equity accrued dividends on Series B convertible preferred stock	192,800	192,800
Accrued dividends on Series B convertible preferred stock	(192,800)					(192,800)
Net issuance to settle RSUs, amount	(26,826)		$ 313		(27,139)
Net issuance to settle RSUs, shares			313,033
Proceeds from sale of common stock, net of fees and expenses, amount	(165,812)				(165,812)
Other comprehensive income (loss)	155,635							155,635
Net loss	(12,450,963)					(12,418,481)	(32,482)
Ending Balance, amount at Dec. 31, 2023	56,786,138		$ 43,317	$ (134,196)	168,270,300	(104,595,765)	34,638	(6,832,156)
Ending Balance, shares at Dec. 31, 2023			43,317,044	(25,000)
Mezzanine Equity Ending Balance, amount at Dec. 31, 2023	5,518,624	$ 5,518,624
Mezzanine Equity Ending Balance, shares at Dec. 31, 2023		1,695
Mezzanine Equity Beginning Balance, amount at Sep. 30, 2023		$ 5,394,193
Mezzanine Equity Beginning Balance, shares at Sep. 30, 2023		1,695
Beginning Balance, amount at Sep. 30, 2023	62,828,906		$ 43,048	$ (134,196)	168,011,474	(98,002,482)	59,832	(7,148,770)
Beginning Balance, shares at Sep. 30, 2023			43,047,951	(25,000)
Stock-based compensation, amount	283,327				283,327
Mezzanine equity series B detachable warrant		$ 25,838
Series B detachable warrant	(25,838)					(25,838)
Mezzanine equity accrued dividends on Series B convertible preferred stock	98,593	98,593
Accrued dividends on Series B convertible preferred stock	(98,593)					(98,593)
Net issuance to settle RSUs, amount	(11,650)		$ 269		(11,919)
Net issuance to settle RSUs, shares			269,093
Proceeds from sale of common stock, net of fees and expenses, amount	(12,582)				(12,582)
Other comprehensive income (loss)	316,614							316,614
Net loss	(6,494,046)					(6,468,852)	(25,194)
Ending Balance, amount at Dec. 31, 2023	56,786,138		$ 43,317	$ (134,196)	$ 168,270,300	$ (104,595,765)	$ 34,638	$ (6,832,156)
Ending Balance, shares at Dec. 31, 2023			43,317,044	(25,000)
Mezzanine Equity Ending Balance, amount at Dec. 31, 2023	$ 5,518,624	$ 5,518,624
Mezzanine Equity Ending Balance, shares at Dec. 31, 2023		1,695

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (12,450,963)	$ (10,505,796)
Adjustments to reconcile net income (loss) from operating activities to net
Stock-based compensation	695,147	762,006
Bad debt expense	472,411	(125,209)
Inventory write-down	787,085	685,200
Depreciation and amortization	2,145,042	2,590,338
Gain on disposal of property, plant and equipment	(101,690)	(4,411)
Gain on disposal of intangible assets	0	(1,796,252)
Gain on sale of equity investment	0	(32,030)
Equity in loss of equity method investees, net of tax	1,538,225	4,015
Change in deferred tax provision	(712,063)	(259,747)
Change in foreign exchange contracts	(639,143)	19,466
Foreign currency transactions	1,276,525	(200,666)
Amortization of debt discount	901,591	861,755
Accretion of note receivable	(127,476)	0
Changes in:
Accounts receivable	4,326,500	(3,968,108)
Inventories	(1,300,241)	557,442
Prepaid expenses and other current assets	356,779	20,736
Other non-current assets	47,015	(677,938)
Accounts payable	1,381,305	(385,529)
Deferred revenue	5,039,497	5,578,365
Accrued expenses and other current liabilities	(2,231,490)	(1,256,423)
Other non-current liabilities	32,768	(207,625)
Net cash provided by (used in) operating activities	1,436,824	(8,340,411)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from partnership transaction	0	2,000,000
Additions to property, plant and equipment	(1,077,055)	(154,997)
Proceeds from disposal of property, plant and equipment	160,958	3,660
Net proceeds from sale of equity investment	0	400,000
Capital contributions to partnerships	(88,543)
Net cash provided by (used in) investing activities	(1,004,640)	2,189,421
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from sale of common stock	(165,812)	0
Taxes paid related to net share settlements of stock-based compensation awards	(26,825)	(12,949)
Borrowings and repayments on lines of credit, net	(2,762,758)	6,598,076
Borrowings of long-term debt	595,175	285,005
Repayments of long-term debt	(152,214)	(1,063,661)
Debt issuance costs	(237,278)	(359,527)
Net cash provided by (used in) financing activities	(2,749,712)	5,446,944
EFFECT OF EXCHANGE RATE CHANGES ON CASH	33,105	(24,290)
NET DECREASE IN CASH & CASH EQUIVALENTS	(2,284,423)	(728,336)
CASH AND CASH EQUIVALENTS, beginning of the period	3,398,793	2,056,508
CASH AND CASH EQUIVALENTS, end of period	$ 1,114,370	$ 1,328,172

General

General	6 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1 - GENERAL The Company is a global multi-crop, middle-market agricultural company that is principally engaged in breeding, growing, processing and selling agricultural seeds. The Company operates seed cleaning and processing facilities, which are located in Texas, New South Wales and South Australia. The Company’s seed products are primarily grown under contract by farmers. The Company is currently focused on growing sales of their proprietary and traited products specifically through the expansion of Double Team TM for forage and grain sorghum products, improving margins through pricing and operational efficiencies, and developing the camelina market via a recently formed partnership. Basis of Presentation The accompanying condensed consolidated financial statements are unaudited and, in the Company’s opinion, include all adjustments, consisting of normal recurring adjustments and accruals, necessary for a fair statement of the Company’s condensed consolidated balance sheets, statements of operations, comprehensive loss, cash flows and mezzanine equity and stockholders’ equity for the periods presented. Operating results for the periods presented are not necessarily indicative of the results to be expected for the full year ending June 30, 2024. Certain information and disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2023, as filed with the SEC. Certain prior period information has been reclassified to conform to the current period presentation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are adjusted to reflect actual experience when necessary. Significant estimates and assumptions affect many items in the financial statements. These include allowance for doubtful trade receivables, inventory valuation, the carrying value of the Company's equity investments, asset impairments, provisions for income taxes, grower accruals (an estimate of amounts payable to farmers who grow seed for the Company), contingencies and litigation. Significant estimates and assumptions are also used to establish the fair value and useful lives of depreciable tangible and certain intangible assets as well as valuing stock-based compensation. Actual results may differ from those estimates and assumptions, and such results may affect income, financial position or cash flows. The Company believes the estimates and assumptions underlying the accompanying condensed consolidated financial statements are reasonable and supportable based on the information available at the time the financial statements were prepared. However, certain adverse geopolitical and macroeconomic events, such as the ongoing military conflict between Ukraine and Russia and related sanctions, the armed conflict in Sudan, the war between Israel and Hamas, and uncertain market conditions, including higher inflation and supply chain disruptions, have, among other things, negatively impacted the global economy, created significant volatility and disruption of financial markets, and significantly increased economic and demand uncertainty. These factors make many of the estimates and assumptions reflected in these condensed consolidated financial statements inherently less certain. Therefore, actual results may ultimately differ from those estimates to a greater degree than historically.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Liquidity and Going Concern The Company is not profitable and has recorded negative cash flows for the last several years. For the six months ended December 31, 2023, the Company rep orted a net loss of $ 12.5 million. While the Company did report net cash provided by operations of $ 1.4 million for the six months ended December 31, 2023, it expects this to be negative in fiscal 2024. The positive cash flow in operations for the six months ended December 31, 2023 was largely due to changes in operating assets and liabilities. As of December 31, 2023 , the Company had cash on hand of $ 1.1 million. The Company had $ 2.4 million of unu sed availability from its working capital facilities as of December 31, 2023 (see Note 8 for further discussion) . In relation to the partnerships formed in fiscal 2023, the Company received $ 1.0 million from Trigall Genetics S.A., or Trigall, in January 2024 and received $ 6.0 million from Equilon Enterprises LLC (dba Shell Oil Products, or Shell) in February 2024. The Company is obligated to make an additional $ 0.3 million in capital contributions to Trigall Australia Pty Ltd, or Trigall Australia, through June 2025. The Company’s Amended and Restated Loan and Security Agreement, or the Amended CIBC Loan Agreement, with CIBC Bank USA, or CIBC, and its debt facilities with National Australia Bank, or NAB, under the NAB Finance Agreement, contain various operating and financial covenants (refer to Note 8). Adverse geopolitical and macroeconomic events and other factors affecting the Company’s results of operations have increased the risk of the Company’s inability to comply with these covenants, which could result in acceleration of its repayment obligations and foreclosure on its pledged assets. The Amended CIBC Loan Agreement as presently in effect requires the Company to meet minimum adjusted EBITDA levels on a quarterly basis and the NAB Finance Agreement includes an undertaking that requires the Compa ny to maintain a net related entity position of not more than USD $ 18.5 million and a minimum interest cover ratio at each fiscal year-end. As of December 31, 2023, the Company was in compliance with the CIBC minimum adjusted EBITDA covenant as well as the NAB net related entity position covenant. While the Company was in compliance with these covenants, there can be no assurance the Company will be successful in meeting its covena nts or securing future waivers and/or amendments from its lenders. Currently, the Company does not expect to meet certain of these covenants in fiscal 2024. If the Company is unsuccessful in meeting its covenants or securing future waivers and/or amendments from its lenders and cannot obtain other financing, it may need to reduce the scope of its operations, repay amounts owed to its lenders and/or sell certain assets. Further, if the Company cannot renew or obtain other financing when its two major debt facilities with CIBC and NAB expire on August 31, 2024 and March 31, 2025, respectively, it may need to reduce the scope of its operations, repay amounts owed to its lenders and/or sell certain assets. These operating and liquidity factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The Co mpany’s condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cost of Revenue The Company records purchasing and receiving costs, inspection costs and warehousing costs in Cost of revenue. When the Company is required to pay for outward freight and/or the costs incurred to deliver products to its customers, the costs are included in Cost of revenue. Cash and Cash Equivalents For financial statement presentation purposes, the Company considers time deposits, certificates of deposit and all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. At times, cash and cash equivalents balances exce ed amounts insured by the Federal Deposit Insurance Corporation. Cash balances located outside of the United States may not be insured and totaled $ 220,188 and $ 191,766 o n December 31, 2023 and June 30, 2023, respectively. Cash balances residing in the United States exceeding the Federal Deposit Insurance Corporation limit of $ 250,000 totaled $ 664,182 and $ 2,957,028 on December 31, 2023 and June 30, 2023, respectively. International Operations The Company translates its foreign operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at the current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in the cumulative translation account, a component of accumulated other com prehensive income (loss). Gains or losses from foreign currency transactions are included in the condensed consolidated statement of operations. For the three months ended December 31, 2023, a $ 0.7 million foreign currency transaction loss was recognized within Cost of revenue and a $ 0.2 million foreign currency loss was recorded to Other (income) expense. For the three months ended December 31, 2022, a $ 0.8 million foreign currency loss was recognized within Cost of revenue and a $ 0.2 million foreign currency loss was recorded to Other (income) expense. For the six months ended December 31, 2023, a $ 0.0 million foreign currency transaction loss was recognized within Cost of revenue and a $ 0.6 million foreign currency loss was recorded to Other (income) expense. For the six months ended December 31, 2022, a $ 0.2 million foreign currency gain was recognized within Cost of revenue and a $ 0.4 million foreign currency loss was recorded to Other (income) expense. Accounts Receivable The Company provides an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. Prior to July 1, 2023, that estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer’s trade accounts receivable. Effective July 1, 2023, in determining the Company's reserve for credit losses, receivables are assigned an e xpected loss based on historical information adjusted for forward-looking economic factors. The allowance for doubtful trade receivables was $ 535,855 and $ 209,757 on December 31, 2023 and June 30, 2023, respectively. Inventories Inventories consist of seed and packaging materials. Inventories are stated at the lower of cost or net realizable value, and an inventory reserve permanently reduces the cost basis of inventory. Inventories are valued as follows: Actual cost is used to value raw materials such as packaging materials, as well as goods in process. Costs for substantially all finished goods, which include the cost of carryover crops from the previous year, are valued at actual cost. Actual cost for finished goods includes plant conditioning and packaging costs, direct labor and raw materials and manufacturing overhead costs based on normal capacity. The Company records abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) as current period charges and allocates fixed production overhead to the costs of finished goods based on the normal capacity of the production facilities. Inventory is periodically reviewed to determine if it is marketable, obsolete or impaired. Inventory that is determined to be obsolete or impaired is written off to expense at the time the impairment is identified. Inventory quality is a function of germination percentage. Our experience has shown that our alfalfa seed quality tends to be stable under proper storage conditions; therefore, we do not view inventory obsolescence for alfalfa seed as a material concern. Hybrid crops (sorghum and sunflower) seed quality may be affected by warehouse storage pests such as insects and rodents. The Company maintains a strict pest control program to mitigate risk and maximize hybrid seed quality. Components of inventory are as follows: As of As of December 31, 2023 June 30, 2023 Raw materials and supplies $ 2,840,364 $ 3,309,211 Work in progress 8,811,322 6,409,554 Finished goods 34,356,394 35,379,503 Inventories, net $ 46,008,080 $ 45,098,268 Property, Plant and Equipment Property, plant and equipment is depreciated using the straight-line method over the estimated useful life of the asset - periods of 5 to 35 years for buildings, 3 to 20 years for machinery and equipment, and 3 to 5 years for vehicles. Intangible Assets Intangible assets acquired in business acquisitions are reported at their initial fair value less accumulated amortization. Intangible assets are amortized using the straight-line method over the estimated useful life of the asset. Periods of 10 to 30 years for technology/IP/germplasm, 5 to 20 years for customer relationships and trade names and 10 to 20 for other intangible assets. The weighted average estimated useful lives are 25 years for technology/IP/germplasm, 19 years for customer relationships, 16 years for trade names, and 18 years for other intangible assets as of December 31, 2023. Investments In fiscal 2023, the Company entered into two partnerships resulting in a 34 % ownership interest in Vision Bioenergy Oilseeds LLC, or Vision Bioenergy, and a 20 % ownership interest in Trigall Australia Pty Ltd, or Trigall Australia. Following the initial recording of each investment, the Company assesses and records its share of equity earnings from each investment on a quarterly basis, resulting in the investment carrying value increasing or decreasing depending on whether a gain or loss is recorded. For Trigall Australia, the Company is also required to make capital contributions, which increases the carrying value of the investment. Research and Development Costs The Company is engaged in ongoing research and development, or R&D, of proprietary seed varieties. All R&D costs must be charged to expense as incurred. Accordingly, internal R&D costs are expensed as incurred. Third-party R&D costs are expensed when the contracted work has been performed or as milestone results have been achieved. The costs associated with equipment or facilities acquired or constructed for R&D activities that have alternative future uses are capitalized and depreciated on a straight-line basis over the estimated useful life of the asset. Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities, as well as a consideration of net operating loss and credit carry forwards, using enacted tax rates in effect for the period in which the differences are expected to impact taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company’s effective tax rate for the three and six months ended December 31, 2023 and 2022 ha s been affected by the valuation allowance on the Company’s deferred tax assets. Net Income (Loss) Per Common Share Data The Company computes earnings per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings per share for common shareholders and participating security holders according to dividends declared and participating rights in undistributed earnings. The Company's Series B Preferred Stock and related warrant, or Series B Warrant (see Note 14 of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended June 30, 2023 , as filed with the SEC), are participating securities because holders of such shares have non-forfeitable dividend rights and participate in any undistributed earnings with common stock. Under the two-class method, total dividends provided to the holders of participating securities and undistributed earnings allocated to participating securities, are subtracted from net income attributable to the Company in determining net loss attributable to common shareholders in the two-class earnings per share, or EPS, calculation. Accretion to the redemption value for the Series B Preferred Stock is also treated as a deemed dividend and subtracted from net income attributable to shareholders. There were no undistributed earnings to allocate to the participating securities in the three and six month periods ended December 31, 2023 and 2022. The calculation of net loss per common share is shown in the table below: Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net loss attributable to S&W Seed Company $ ( 6,468,852 ) $ ( 5,986,005 ) $ ( 12,418,481 ) $ ( 10,494,946 ) Dividends accrued for participating securities ( 98,593 ) ( 88,224 ) ( 192,800 ) ( 176,447 ) Accretion of Series B Preferred Stock redemption value ( 25,838 ) ( 25,838 ) ( 51,676 ) ( 51,676 ) Numerator for net loss per common share - basic and diluted $ ( 6,593,283 ) $ ( 6,100,067 ) $ ( 12,662,957 ) $ ( 10,723,069 ) Denominator: Weighted average shares outstanding - basic and diluted 43,091,438 42,651,270 43,050,329 42,627,645 Net loss per common share - basic and diluted $ ( 0.15 ) $ ( 0.14 ) $ ( 0.29 ) $ ( 0.25 ) Anti-dilutive shares, which have been excluded from the computation of diluted income (loss) per share, included 5,119,016 employee stock options, 1,695,000 shares issuable upon conversion of the Series B Convertible Preferred Stock, warrants to purchase 2,633,400 shares of common stock related to the MFP Loan Agreement (as defined below), 559,350 warrants issued with the Company's Series B Convertible Preferred Stock, and 1,001,099 restricted stock units. Th e terms and conditions of these securities are more fully described in Note 11 and Note 12 in these condensed consolidated financial statements and in Note 13 and Note 14 of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended June 30, 2023, as filed with the SEC. For the period ended December 31, 2023 and 2022 , all potentially dilutive shares were anti-dilutive and excluded from the calculation of diluted loss per share because net losses were recognized. Concentrations Two customers accounted for 28 % and one customer accounted for 17 % of the Company's revenue for the three and six months ended December 31, 2023, respectively. One customer accounted for 8 % and 11 % of the Company's revenue for the three and six months ended December 31, 2022, respectively. Two customers accounted for 37 % of the Company's accounts receivable as of December 31, 2023 and no one customer a ccounted for more than 10 % of the Company’s accounts receivable as of June 30, 2023. The Company sells a substantial portion of its products to international customers (see Note 4). Sales to international markets represented 48 % and 81 % of revenue during the three months ended December 31, 2023 and 2022 , respectively. Sales to international markets represented 68 % and 86 % of rev enue during the six months ended December 31, 2023 and 2022, respectively. The net book value of fixed assets located outside the United States w as 31 % of total fixed assets on December 31, 2023 and June 30, 2023 . Derivative Financial Instruments The Company’s subsidiary, S&W Australia, is exposed to foreign currency exchange rate fluctuations in the normal course of its business, which the Company at times manages through the use of foreign currency derivative financial instruments. The Company has entered into foreign currency forward contracts and foreign currency call options (see Note 9) and accounts for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging,” which establishes accounting and reporting standards requiring that derivative instruments be recorded on the balance sheet as either an asset or liability measured at fair value. The Company’s foreign currency contracts and options are not designated as hedging instruments under ASC 815; accordingly, changes in the fair value are recorded in current period earnings. Premiums paid for foreign currency options with strike prices below the spot market price when acquired represent the time value of the option, as there is no intrinsic value. Such premiums are recorded as a current asset and amortized over the option term. Cu rrency options are measured at fair value if the market price at the reporting date exceeds the strike price. When the strike price exceeds the market price, no liability is recorded as the Company has no obligation to exercise the options. Fair Value of Financial Instruments The Company discloses assets and liabilities that are recognized and measured at fair value, presented in a three-tier fair value hierarchy, as follows: • Level 1. Observable inputs such as quoted prices in active markets; • Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and • Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying value of cash and cash equivalents, accounts payable, short-term and all long-term borrowings, as reflected in the condensed consolidated balance sheets, approximate fair value because of the short-term maturity of these instruments or interest rates commensurate with market rates. There have been no changes in operations and/or credit characteristics since the date of issuance that could impact the relationship between interest rate and market rates. S&W received a $ 6.0 million note receivable due from Shell in connection with the Vision Bioenergy partnership transaction (see Note 7). The note, which is due in February 2024, was initially recorded at its $ 5.7 million present value discounted at a rate of 4.4 %, which is ou r estimated discount rate for similar instruments. The receivable balance is being accreted to the full receivable amount on a straight-line basis over the remaining receivable term due to its short-term maturity. The receivable balance was $ 6.0 million as of December 31 , 2023. This payment was received by the Company in February 2024. Also in conjunction with the Vision Bioenergy partnership transaction, S&W received a one-time option, or Purchase Option, exercisable at any time on or before the fifth anniversary of the closing of the partnership transaction, to repurchase a 6 % membership interest from Shell. The option repurchase prices range between approximately $ 7.1 and $ 12.0 million, depending on the date on which such purchase is completed. The Purchase Option was valued at $ 0.7 million using a lattice option valuation model. The valuation model incorporated significant, unobservable inputs including a discounted cash flow model based on management projections of future Vision Bioenergy results and an estimate of the current per share value of Vision Bioenergy shares. In the model, the estimate of the current per share value was discounted to account for lack of control and marketability, which were considered to be part of the unit of account given the restrictions of the limited liability company agreement that governs the ownership rights of the members. Other unobservable inputs included the risk-free rates and the estimated future stock volatility based on the historical stock price volatilities of other market participants. A full fair value ana lysis will be performed at each fiscal year-end or when there is an indication that there may be an impairment to the valuation. Management will estimate and adjust the balance for interim periods. A fair value analysis was performed as of June 30, 2023, which resulted in no material adjustment to the fair value. No indicators have been identified for the six months ended December 31, 2023 to suggest any material change in the fair value of the purchase option. As such, there is no indication of impairment for the six months ended December 31, 2023. Quantitative information about Level 3 fair value measurement is as follows: Fair Value as of December 31, 2023 Valuation Technique Unobservable Input Range Purchase Option $ 695,000 Option Model Risk-free rate 3.8 % - 4.9 % Stock price volatility 60 % - 65 % Lack of control premium 13 % Lack of marketability premium 30 % Assets and liabilities that are recognized and measured at fair value on a recurring basis are categorized as follows: Fair Value Measurements as of December 31, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 203,440 $ — Note receivable due from Shell — 5,974,366 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,177,806 $ 695,000 Fair Value Measurements as of June 30, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 849,033 $ — Note receivable due from Shell — 5,846,890 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,695,923 $ 695,000 Recent Adopted Accounting Pronouncements Effective July 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was subsequently amended in November 2018 through ASU No. 201819, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2016-13”). The amended guidance requires entities to estimate lifetime expected credit losses for trade and other receivables, including those that are current with respect to payment terms, along with other financial instruments which may result in earlier recognition of credit losses. The Company evaluated its existing methodology for estimating an allowance for doubtful accounts and the risk profile of its receivables portfolio and developed a model that includes the qualitative and forecasting aspects of the “expected loss” model under the amended guidance. In determining the Company’s reserve for credit losses, receivables are assigned an expected loss based on historical information adjusted for forward-looking economic factors. The adoption of ASU 2016-13 did not have a material impact on the Company’s condensed consolidated financial statements. We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not have a material impact on our condensed consolidated statements of operations, comprehensive income, balance sheets, or cash flows.

Leases

Leases	6 Months Ended
	Dec. 31, 2023
Lessee Disclosure [Abstract]
LEASES	NOTE 3 - LEASES The Company leases office and laboratory space, research plots and equipment used in connection with its operations under various operating and finance leases. The components of lease assets and liabilities as of December 31, 2023 and June 30, 2023 are as follows: Leases Balance Sheet Classification: As of December 31, 2023 As of June 30, 2023 Assets: Right of use assets - finance leases $ 1,974,113 $ 1,759,094 Accumulated amortization - finance leases ( 1,038,695 ) ( 1,088,294 ) Right of use assets - finance leases, net Other assets 935,418 670,800 Right of use assets - operating leases Right of use assets - operating leases 2,825,742 2,983,303 Total lease assets $ 3,761,160 $ 3,654,103 Liabilities: Current lease liabilities - finance leases Current portion of long-term debt, net $ 455,647 $ 383,403 Current lease liabilities - operating leases Accrued expenses and other current liabilities 1,087,366 1,335,568 Long-term portion of lease liabilities - Long-term debt, net, less current portion 496,894 304,761 Long-term portion of lease liabilities - Other non-current liabilities 1,912,721 1,949,604 Total lease liabilities $ 3,952,628 $ 3,973,336 The components of lease cost are as follows: Three Months Ended Six Months Ended Lease cost: Income Statement Classification: 2023 2022 2023 2022 Operating lease cost Cost of revenue $ 219,796 $ 163,389 $ 395,462 $ 347,249 Operating lease cost Selling, general and administrative expenses 41,078 54,914 82,130 110,248 Operating lease cost Research and development expenses 158,315 88,620 277,542 224,817 Finance lease cost Depreciation and amortization 142,968 125,949 262,438 265,639 Finance lease cost Interest expense, net 21,992 12,841 33,883 28,791 Total lease costs $ 584,149 $ 445,713 $ 1,051,455 $ 976,744 Maturities of lease liabilities as of December 31, 2023, are as follows: Fiscal Year Operating Leases Finance Leases Remainder of 2024 740,715 289,776 2025 1,005,989 410,806 2026 852,514 309,233 2027 516,330 50,901 2028 183,599 — Thereafter 56,967 — Total lease payments 3,356,114 1,060,716 Less: Interest ( 356,027 ) ( 108,175 ) Present value of lease liabilities $ 3,000,087 $ 952,541 The following are the weighted average assumptions used for lease term and discount rate and supplemental cash flow information related to leases as of December 31, 2023: Operating lease remaining lease term 3.2 years Operating lease discount rate 5.67 % Finance lease remaining lease term 2.1 years Finance lease discount rate 8.49 % Cash paid for operating leases $ 622,401 Cash paid for finance leases $ 341,912

Revenue Recognition

Revenue Recognition	6 Months Ended
	Dec. 31, 2023
Revenues [Abstract]
REVENUE RECOGNITION	NOTE 4 - REVENUE RECOGNITION The Company derives its revenue primarily from the sale of seed products to seed distributors. From time to time, the Company utilizes excess capacity to provide conditioning, treating and packaging services to other seed producers. The Company also derives service revenue from its two partnerships, Trigall Australia and Vision Bioenergy Oilseeds LLC, or Vision Bioenergy, by providing administrative services under a service level agreement. Revenue from seed product sales is recognized at the point in time at which control of the product is transferred to the customer. Generally, this occurs upon shipment of the product. Pricing for such transactions is negotiated and determined at the time the contracts are signed. We have elected the practical expedient that allows us to account for shipping and handling activities as a fulfillment cost, and we accrue those costs when the related revenue is recognized. The Company has certain contracts with customers that offer a limited right of return on certain branded products through the end of the current sales year (September through August). The products must be in an unopened and undamaged state and must be resalable in the sole opinion of the Company to qualify for a refund. The Company uses a historical returns percentage to estimate the refund liability and records a reduction of revenue in the period in which revenue is recognized. ADAMA Collaboration Agreement The Company has a collaboration agreement, or Collaboration Agreement, with Makhteshim Agan of North America, Inc., or ADAMA, for the development and commercialization of the Double Team Sorghum Weed Control System, or DT, which is comprised of ADAMA’s ACCase herbicide used in concert with the Company’s ACCase tolerant ATS Sorghum product, Double Team Sorghum Cropping Solution. Both parties are active participants in the operating activities of the collaboration and exposed to significant risks and rewards depending on the commercial success of the activities. Although the DT product is designed to be used as a system, the Company sells only the Double Team sorghum seed portion of the system and recognizes the revenue consistent with its sales of other seed products. Under the Collaboration Agreement, the Company will only label and promote ATS Sorghum products with ADAMA herbicides, while ADAMA will not sell ACCase herbicides for use on competing ATS Sorghum products. Further, all DT related trademarks are jointly owned by the Company and ADAMA, and each company grants the other a license free royalty to use these DT related trademarks. The parties have agreed to share the increase in commercial value created and realized by DT, or Total Value Share, with the Company and ADAMA taking 60 % and 40 % of the Total Share Value, respectively. The Total Share Value is the sum of (a) the increase in gross margin realized by the Company from sale of the Double Team Sorghum product, compared to margins realized by its non-ATS Sorghum products, (b) 100 % of the ADAMA’s ACCase herbicide gross margin, and (c) any DT-related technology licensing fees received by either party. The Total Value Share is estimated each calendar quarter and a final net settlement is paid at the end of each market year, which ends in August. Estimated and final net settlement amounts to be paid or received are recorded as adjustments to cost of sales. Double Team sorghum seed sa les were $ 4.0 million and $ 4.5 million for the three and six months ended December 31, 2023 , respectively. Double Team sorghum seed sales were $ 1.2 million for the three and six months ended December 31, 2022. The Total Value Share net settlement amounts pursuant to the Collaboration Agreement were not significant for the six months ended December 31, 2023 and 2022. Payment Terms and Related Balance Sheet Accounts Accounts receivable represent amounts that are payable to the Company by its customers subject only to the passage of time. Payment terms on invoices are generally 30 to 180 days for export customers and end of sales season (October 31st) for branded products sold within the United States. As the period between the transfer of goods and/or services to the customer and receipt of payment is less than one year , the Company does not separately account for a financing component in its contracts with customers. The Company had $ 177,722 and $ 203,222 in unbilled receivables as of December 31, 2023 and June 30, 2023, respectively, which related to its service level agreement with Vision Bioenergy, as the Company bills Vision Bioenergy on a quarterly basis. Losses on accounts receivable and unbilled receivables are re cognized if and when it becomes probable that amounts will not be paid. These losses are reversed in subsequent periods if these amounts are paid. During the three and six months ended December 31, 2023, the Company recognized bad debt expense of $ 307,069 and $ 472,411 , respectively, associated with impaired accounts receivable. During the three and six months ended December 31, 2022, the Company recognized bad debt expense (income) of $ 30,212 and ($ 125,209 ), respectively, associated with impaired accounts receivable. Deferred revenue represents payments received from customers in advance of completion of the Company's performance obligation. During the six months ended December 31, 2023, the Company recognized $ 0.4 million of revenue that was included in the deferred balance as of June 30, 2023. During the six months ended December 31, 2022, the Company recognized $ 0.6 million of revenue that was included in the deferred balance as of June 30, 2022. Disaggregation of Revenue The Company disaggregates revenue by type of contract and by destination country. The following table shows revenue from external sources by type of contract: Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Seed sales $ 10,665,281 $ 12,834,831 $ 26,707,239 $ 32,672,618 Services 199,528 102,971 590,036 131,049 Total revenue $ 10,864,809 $ 12,937,802 $ 27,297,275 $ 32,803,667 The following tables show revenue and percentage of revenue from external sources by destination country: Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 United States $ 5,676,396 52 % $ 2,455,133 19 % $ 8,696,966 32 % $ 4,716,140 14 % Saudi Arabia ( 180,903 ) - 2 % 2,165,680 17 % 4,178,827 15 % 7,339,344 22 % Mexico 1,904,895 18 % 1,092,320 8 % 3,467,712 13 % 3,815,523 12 % Australia 1,446,044 14 % 2,569,026 20 % 3,452,241 13 % 5,154,858 16 % South Africa 309,089 3 % 747,741 6 % 2,241,422 8 % 1,064,006 3 % Libya 682,200 6 % ( 2,439 ) 0 % 1,755,000 7 % 2,995,608 9 % Sudan — 0 % 1,506,819 12 % 1,421,527 5 % 2,303,702 7 % Pakistan 371,868 3 % 531,472 4 % 955,000 3 % 1,353,091 4 % Egypt 348,000 3 % 588,600 4 % 348,000 1 % 595,180 2 % Uganda 289,935 3 % — 0 % 329,935 1 % — 0 % Other 17,285 0 % 1,283,450 10 % 450,645 2 % 3,466,215 11 % Total revenue $ 10,864,809 100 % $ 12,937,802 100 % $ 27,297,275 100 % $ 32,803,667 100 %

Intangible Assets

Intangible Assets	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 5 – INTANGIBLE ASSETS Intangible assets consist of the following: Balance at Other Additions and Disposals Amortization Currency Translation Adjustment Balance at Intellectual property $ 21,650,534 $ — $ ( 692,458 ) $ — $ 20,958,076 Trade name 880,933 — ( 92,641 ) 2,642 790,934 Customer relationships 4,968,675 — ( 171,967 ) 116,044 4,912,752 GI customer list 35,819 — ( 3,582 ) — 32,237 Supply agreement 699,608 — ( 37,817 ) — 661,791 Grower relationships 1,226,175 — ( 52,703 ) — 1,173,472 Internal use software 271,115 — ( 33,889 ) — 237,226 $ 29,732,859 $ — $ ( 1,085,057 ) $ 118,686 $ 28,766,488 Balance at Other Additions and Disposals Amortization Currency Translation Adjustment Balance at Intellectual property $ 23,035,925 $ — $ ( 1,385,391 ) $ — $ 21,650,534 Trade name 1,084,791 — ( 196,627 ) ( 7,231 ) 880,933 Customer relationships 5,499,815 — ( 353,000 ) ( 178,140 ) 4,968,675 GI customer list 42,983 — ( 7,164 ) — 35,819 Supply agreement 775,241 — ( 75,633 ) — 699,608 Grower relationships 1,331,581 — ( 105,406 ) — 1,226,175 License agreement 1,986,598 ( 1,885,907 ) ( 75,610 ) ( 25,081 ) — Internal use software 338,893 — ( 67,778 ) — 271,115 $ 34,095,827 $ ( 1,885,907 ) $ ( 2,266,609 ) $ ( 210,452 ) $ 29,732,859 Amortization expense totaled $ 539,830 an d $ 581,212 for the three months ended December 31, 2023 and 2022, respectively. Amortization expense totaled $ 1,085,057 and $ 1,171,208 for the six months ended December 31, 2023 and 2022, respectively. Estimated aggregate remaining amortization is as follows: 2024 2025 2026 2027 2028 Thereafter Amortization expense $ 1,522,334 $ 2,120,172 $ 1,980,015 $ 1,929,131 $ 1,871,840 $ 19,342,996

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	NOTE 6 - PROPERTY, PLANT AND EQUIPMENT Components of property, plant and equipment were as follows: As of As of December 31, 2023 June 30, 2023 Land and improvements $ 949,088 $ 939,089 Buildings and improvements 3,377,702 3,356,755 Machinery and equipment 12,686,592 12,667,858 Vehicles 778,632 605,891 Leasehold improvements 552,810 552,810 Construction in progress 920,411 177,538 Total property, plant and equipment 19,265,235 18,299,941 Less: accumulated depreciation ( 8,914,348 ) ( 8,217,773 ) Property, plant and equipment, net $ 10,350,887 $ 10,082,168 Depreciation expense totaled $ 393,221 and $ 546,743 for the three months ended December 31, 2023 and 2022 , respectively. Depreciation expense totaled $ 797,547 and $ 1,153,491 for the six months ended December 31, 2023 and 2022 , respectively.

Investments

Investments	6 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	NOte 7 - investments Shell Partnership The terms and conditions of the Contribution and Membership Interest Purchase Agreement, or Purchase Agreement, with Shell relating to the February 6, 2023 partnership for the development and production of sustainable biofuel feedstocks through Vision Bioenergy are presented in Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023. No new activity occurred during the six months ended December 31, 2023 . Activity in the period consisted of the recording of the Company's 34 % share of Vision Bioenergy's loss for the period, which is recorded to Equity in loss of equity method investees, net of tax in the condensed consolidated statements of operations. Per the Purchase Agreement, in February 2024, Shell will be required to pay an additional $ 6.0 million to the Company, subject to adjustment in certain circumstances. The Purchase Agreement provides that this required payment could be decreased by up to $ 4.5 million if (i) certain key personnel transferred to Vision Bioenergy, or Transferred Personnel, are no longer employed by Vision Bioenergy on February 6, 2024 and (ii) the Company or Vision Bioenergy, as applicable, fail to replace such Transferred Personnel with personnel of reasonably similar qualifications within 90 days of the preceding event. The Company’s management deemed that the full $ 6.0 million payment from Shell to the Company was realizable due to the high likelihood that the Transferred Personnel would remain employed for the first year, or, in any event, could be replaced within 90 days. The fair value of the full amount of this payment, based on the discounted value of the payment as of December 31, 2023 , was $ 6.0 million, wh ich was recorded to Notes receivable, net on the condensed consolidated balance sheets. The summarized unaudited balance sheets presented below reflects the financial information of Vision Bioenergy as of December 31, 2023 and June 30, 2023: As of December 31, 2023 (Unaudited) As of June 30, Cash $ 2,410,607 $ 8,973,896 Other current assets 2,654,196 747,090 Fixed assets 16,952,960 15,051,799 Intangible assets 17,769,680 18,575,108 Goodwill 11,615,424 11,870,376 Other assets 214,094 255,899 TOTAL ASSETS $ 51,616,961 $ 55,474,168 Current liabilities $ 1,927,041 $ 1,381,493 Long-term liabilities 140,551 176,203 Equity 49,549,369 53,916,472 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,616,961 $ 55,474,168 The summarized unaudited income statement presented below reflects the financial information of Vision Bioenergy for the three and six months ended December 31, 2023: Three Months Ended December 31, 2023 (Unaudited) Six Months Ended December 31, 2023 (Unaudited) Revenue $ 1,074,934 $ 1,228,924 Gross profit (loss) 619,646 ( 327,005 ) Loss from operations ( 1,794,747 ) ( 4,624,553 ) Net loss ( 1,750,017 ) ( 4,509,196 ) Trigall Australia Partnership The terms and conditions of the December 23, 2022 partnership agreement that the Company’s wholly owned subsidiary, S&W Seed Company Australia Pty Ltd, or S&W Australia, entered into with Trigall are presented in Note 7 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 . The partnership, Trigall Australia, was created for the development and marketing of wheat varieties in Australia. Activity in the period consisted of the recording of the Company's 20 % share of Trigall Australia's net loss for the period, which is recorded to Equity in loss of equity method investees, net of tax in the condensed consolidated statements of operations and the recording of $ 0.1 million in capital contributions the Company made to Trigall Australia during the six months ended December 31, 2023. The Company is obligated to make an additional $ 0.3 million in capital contributions to Trigall Australia through June 2025. Per the partnership agreement, S&W Australia is entitled to receive an additional $ 1.0 million in cash from Trigall, which was paid in full in January 2024. The following summarizes the carrying amount of the Company's equity method investments reflected in the condensed consolidated balance sheets: As of December 31, 2023 As of June 30, 2023 Carrying Amount Economic Interest Carrying Amount Economic Interest Vision Bioenergy $ 20,953,474 34 % $ 22,307,486 34 % Trigall Australia 671,169 20 % 752,219 20 % Total equity method investments $ 21,624,643 $ 23,059,705

Debt

Debt	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
DEBT	NOTE 8 - DEBT Total debt outstanding is presented on the Company's condensed consolidated balance sheets as follows: As of December 31, 2023 As of June 30, 2023 Current portion of working capital lines of credit CIBC $ 15,815,090 $ 19,335,427 National Australia Bank Limited 28,007,685 25,938,839 Debt issuance costs ( 225,562 ) ( 373,487 ) Total current portion of working capital lines of credit, net 43,597,213 44,900,779 Total working capital lines of credit, net $ 43,597,213 $ 44,900,779 Current portion of long-term debt Finance leases $ 455,647 $ 383,403 Term Loan - National Australia Bank Limited 2,383,850 2,318,050 Machinery & equipment loans - National Australia Bank Limited 1,587,419 1,141,349 Machinery & equipment loans - Hyster 22,349 11,902 Vehicle loans - Ford Credit 102,996 51,278 Debt issuance costs ( 106,819 ) ( 97,221 ) Total current portion, net 4,445,442 3,808,761 Long-term debt, less current portion Finance leases 496,894 304,761 Machinery & equipment loans - Hyster — 15,715 Vehicle loans - Ford Credit 221,881 70,103 Secured real estate note - AgAmerica 4,300,000 4,300,000 Debt issuance costs ( 156,435 ) ( 191,245 ) Total long-term portion, net 4,862,340 4,499,334 Total debt, net $ 9,307,782 $ 8,308,095 CIBC Loan Agreement On December 26, 2019 , the Company entered into the CIBC Loan Agreement with CIBC, which originally provided for a $ 35.0 million credit facility, or the CIBC Credit Facility. As described in Note 8 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, the CIBC Loan Agreement was subsequently amended on several occasions, including on March 22, 2023, when the Company entered into the Amended CIBC Loan Agreement. During the six months ended December 31, 2023, the Amended CIBC Loan Agreement was amended as follows: • On September 25, 2023, the Company entered into a First Amendment to the Amended CIBC Loan Agreement, or the Loan Amendment, which amended the Amended CIBC Loan Agreement, by and among the Company, as borrower, and CIBC, as administrative agent and sole lead arranger. The Loan Amendment, among other things, (i) waived certain events of default under the CIBC Loan Agreement, (ii) eliminated the minimum EBITDA and fixed charge coverage ratio covenants for the period ending June 30, 2024, (iii) increased the applicable interest rate margin on advances under the CIBC Loan Agreement by 0.5 % per annum (i.e. from 2.0 % to 2.5 % per annum), and (iv) added a fee of $ 75,000 payable by us to CIBC on the date of the Loan Amendment. Except as modified by the Loan Amendment, all terms and conditions of the Amended CIBC Loan Agreement remain in full force and effect. The Amended CIBC Loan Agreement provides for a senior secured credit facility, or the Amended CIBC Credit Facility, of up to $ 25.0 million from February 1 to October 31 of each year, and up to $ 18.0 million from November 1 to January 31 of each year. The proceeds of advances under the Amended CIBC Credit Facility may be used to finance the Company’s ongoing working capital requirements and other general corporate purposes. Availability of funds under the Amended CIBC Credit Facility is subject to a borrowing base equal to (a) up to 85 % of eligible domestic accounts receivable, plus (b) up to 90 % of eligible foreign accounts receivable, plus (c) up to the lesser of (i) 65 % of eligible inventory and (ii) 85 % of the appraised net orderly liquidation value of eligible inventory , in each case subject to an eligible inventory sublimit, in each case ((a), (b) and (c)), as more fully set forth in the Amended CIBC Loan Agreement and subject to lender reserves that CIBC may establish from time to time in its sole discretion, determined in good faith. Advances under the Amended CIBC Credit Facility bear interest at a rate per annum equal to a reference rate equal to CIBC’s prime rate at any time (or, if greater, the federal funds rate at such time plus 0.5 %) plus an applicable marg in of 2.5 % per the Loan Amendment. The interest rate for the Amended CIBC Credit Facility was 10.50 % as of December 31, 2023. The Company’s obligations under the Amended CIBC Loan Agreement are secured by a first priority security interest in substantially all of the Company’s assets (subject to certai n exceptions), including intellectual property. All amounts outstanding under the Amended CIBC Loan Agreement, including, but not limited to, accrued and unpaid principal and interest due under the CIBC Credit Facility, will be due and payable in full on August 31, 2024. The Amended CIBC Loan Agreement contains certain customary representations and warranties, events of default, and affirmative and negative covenants, including limitations with respect to debt, liens, fundamental changes, asset sales, restricted payments, investments and transactions with affiliates, subject to certain exceptions. Amounts due under the Amended CIBC Loan Agreement may be accelerated upon an “event of default,” as defined in the Amended CIBC Loan Agreement, such as failure to pay amounts owed thereunder when due, breach of a covenant, material inaccuracy of a representation, or occurrence of bankruptcy or insolvency, subject in some cases to cure periods. Additionally, upon the occurrence and during the continuance of an event of default, CIBC may elect to increase the existing interest rate on all of the Company’s outstanding obligations by 2.0 % per annum. As of December 31, 2023, the Company was in compliance with all financial covenants contained in the CIBC Loan Agreement. As of December 31, 2023, there was a pproximately $ 2.2 million of unused availability on the CIBC Credit Facility, which had an available borrowing base of $ 18.0 million, which is the maximum amount that can be borrowed until this is raised to $ 25.0 million per the Amended CIBC Credit Facility on February 1, 2024. Australian Facilities S&W Australia’s debt facilities with National Australia Bank, or NAB, as amended to date, or the NAB Finance Agreement, were amended and restated effective November 17, 2023. Pursuant to the amendments contained in the NAB Finance Agreement, among other things: • the borrowing base line credit limit under S&W Australia’s seasonal credit facility was decreased from AUD $ 40.0 million (USD $ 27.2 million as of December 31, 2023) to AUD $ 36.0 million (USD $ 24.5 million as of December 31, 2023), and the maturity date was extended from September 30, 2024 to March 31, 2025 . The interest rate for a drawing denominated in a foreign currency is fixed at the time of drawing and will be the foreign currency fixed lending rate plus a customer margin of 3.00 % per annum (previously 1.65 % per annum). As of December 31, 2023, the Borrowing Base Line accrued interest on Australian dollar drawings at 7.36 % per annum calculated daily; • the overdraft credit limit under S&W Australia’s seasonal credit facility was increased from AUD $ 2.0 million (USD $ 1.4 million as of December 31, 2023) to AUD $ 6.0 million (USD $ 4.1 million as of December 31, 2023), and the maturity date was extended to March 31, 2024 . The Overdraft Facility permits S&W Australia to borrow funds on a revolving line of credit up to the credit limit. Interest accrues daily and is calculated by applying the daily interest rate to the balance owing at the end of the day and is payable monthly in arrears. As of December 31, 2023, the Overdraft Facility accrued interest at 9.72 % per annum calculated daily; • the flexible rate loan, or the Term Loan, in the amount of AUD $ 4.0 million (USD $ 2.7 million at December 31, 2023). Required annual principal payments of AUD $ 0.5 million on the Term Loan commenced in May 2023, with the remainder of any unpaid balance becoming due on March 31, 2026 . Monthly interest amounts outstanding under the Term Loan are payable in arrears at a floating rate quoted by NAB for the applicable pricing period, plus 2.6 %. The interest rate as of December 31, 2023 for this was 8.36 %. T he Term Loan is secured by a lien on all the present and future rights, property and undertakings of S&W Australia; and • the financing of certain equipment purchases under a master asset finance facility. Equipment loans under the master asset finance facility have various maturity dates through 2029 , which have interest rates ranging from 2.86 % to 6.82 %. The total credit limit under the facility is AUD $ 3.0 million (USD $2 .0 million as of December 31, 2023). As of December 31, 2023, AUD $ 1.5 million (USD $ 1.0 million) was outstanding under S&W Australia’s master asset finance facility. The Seasonal Credit Facility is secured by a fixed and floating lien over all the present and future rights, property, and undertakings of S&W Australia. As of December 31, 2023, approximately AUD $ 0.3 million (USD $ 0.2 million) remained available for use under the NAB Finance Agreement, which had an available borrowing base, including the overdraft, of AUD $ 42.0 million (USD $ 28.6 million as of December 31, 2023). With additional collateral, the available borrowing base as of December 31, 2023 could have increased by an additional AUD $ 0.6 million (USD $ 0.4 million). After the amendments, the consolidated debt facilities under the NAB Finance Agreement provide for up to an aggregate of AUD $ 49.0 (USD $ 33.4 million as of December 31, 2023 ) of credit. The NAB Finance Agreement is guaranteed by S&W Seed Company up to a maximum of AUD $ 15.0 million (USD $ 10.2 million as of December 31, 2023). The November 2023 amendments to the NAB Finance Agreement contain various covenants, including the requirement that the Company maintain a net related entity position of not more than USD $ 18.5 million as of December 31, 2023. As of December 31, 2023, the Company was in compliance with all current NAB Finance Agreement covenants. AgAmerica Note As described in Note 8 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 , the Company entered into a term loan agreement, or the AgAmerica Loan Agreement, with AgAmerica on June 20, 2023 pursuant to which AgAmerica issued a term loan of $ 4.3 million, or the AgAmerica Term Loan, to the Company and, as security therefor, the Company granted to AgAmerica a mortgage on approximately 31 acres of land located in Lubbock and Moore Counties, Texas, and certain personal pro perty thereon. No changes to this agreement have occurred during the six months ended December 31, 2023. Per the agreement, interest will accrue at a rate per annum equal to 4.85 % plus the Term SOFR Rate, defined as the forward-looking term rate based on the secured overnight financing rate, or SOFR, computed based on the actual number of days elapsed divided by a 360-day year. The annual interest rate as of December 31, 2023 was 10.23 %. Interest payments are due quarterly in arrears, commencing on June 20, 2023, and on the last day of each quarter thereafter, unless otherwise accelerated in accordance with the terms of the AgAmerica Loan Agreement or the AgAmerica Note. MFP Loan Agreement On September 22, 2022, the Company’s largest stockholder, MFP Partners, L.P., or MFP, provided a letter of credit issued by JPMorgan Chase Bank, N.A. for the account of MFP. This letter of credit, or the MFP Letter of Credit, was subsequently amended on October 28, 2022, November 30, 2022, and March 22, 2023, as described in Note 8 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 . Per the March 22, 2023 amendment, the face amount of the MFP Letter of Credit increased to $ 13.0 million and extend the maturity date to September 30, 2024 . On September 22, 2022, the Company also entered into a Subordinate Loan and Security Agreement, or the MFP Loan Agreement, with MFP, pursuant to which any draw CIBC may make on the MFP Letter of Credit will be deemed to be a term loan advance made by MFP to the Company. Concurrent with the March 22, 2023 amendment to the CIBC Loan Agreement, the Company entered into a Third Amendment to Subordinate Loan and Security Agreement with MFP, or MFP Amendment, to (i) increase the aggregate amount of cash advances permitted from $ 12.0 million to $ 13.0 million; (ii) increase the cash fee payable to MFP on all amounts remaining undrawn under the Letter of Credit from 3.50 % to 4.25 % per annum; (iii) provide for the issuance of the MFP Warrant to MFP (Note 10); and (iv) reflect the extension of the maturity date of the Letter of Credit to September 30, 2024. In the event any term advances are deemed made under the MFP Loan Agreement, such advances will bear interest at a rate per annum equal to term SOFR (with a floor of 1.25 %) plus 9.25 %, 50 % of which will be payable in cash on the last day of each fiscal quarter and 50 % of which will accrue as payment in kind interest payable on the maturity date, unless, with respect to any quarterly payment date, the Company elects to pay such interest in cash. As amended, the MFP Loan Agreement will mature on March 30, 2025 . The MFP Loan Agreement, as amended, includes customary affirmative and negative covenants and events of default, and is secured by substantially all of the Company’s assets and is subordinated to the CIBC Loan Agreement. Upon the occurrence and during the continuance of an event of default, MFP may declare all outstanding obligations under the MFP Loan Agreement immediately due and payable and take such other actions as set forth in the MFP Loan Agreement. Maturities of Long-Term Debt The annual maturities of long-term debt, excluding finance lease liabilities, are as follows: Fiscal Year Amount Remainder of 2024 $ 4,045,117 2025 77,987 2026 4,377,987 2027 77,987 2028 39,418 Total $ 8,618,496

Foreign Currency Forward Contra

Foreign Currency Forward Contracts and Options	6 Months Ended
	Dec. 31, 2023
Foreign Currency [Abstract]
FOREIGN CURRENCY FORWARD CONTRACTS AND OPTIONS	NOTE 9 - FOREIGN CURRENCY FORWARD CONTRACTS AND OPTIONS The Company’s subsidiary, S&W Australia, is exposed to foreign currency exchange rate fluctuations in the normal course of its business, which the Company manages through the use of foreign currency forward contracts. These foreign currency contracts are not designated as hedging instruments; accordingly, changes in the fair value are recorded in current period earnings. These foreign currency contracts had a notional value of $ 5,496,155 o n December 31, 2023, with maturities ranging fr om January 2024 to April 2024 . The Company records an asset or liability on the condensed consolidated balance sheets for the fair value of the foreign currency forward contracts. The foreign currency contract liabilities totaled $ 203,440 an d $ 849,033 on December 31, 2023 and June 30, 2023, respectively. The Company recorded gains of $ 712,797 and $ 484,518 on foreig n currency forward contracts for the three months ended December 31, 2023 and 2022 , respectively, and a gain of $ 654,529 and loss of $ 19,466 for the six months ended December 31, 2023 and 2022, respectively. Gains and losses on foreign exchange contracts are reflected within Cost of revenue on the condensed consolidated statement of operations. The Company's accounting policies for foreign currency contracts and options are found in Note 2 under the section titled " Derivative Financial Instruments."

Equity

Equity	6 Months Ended
	Dec. 31, 2023
Equity [Abstract]
EQUITY	NOTE 10 – EQUITY ATM Common Stock Sales On September 23, 2020, the Company entered into an At Market Issuance Sales Agreement, or the ATM Agreement, with B. Riley Securities, Inc., or B. Riley, under which it may offer and sell from time to time, at its sole discretion, shares of its common stock having an aggregate offering price of up to $ 17.1 million through B. Riley as its sales agent. On May 17, 2022, the Company amended the ATM Agreement to have an aggregate offering price of $ 24.6 million. For the six months ended December 31, 2023 and 2022, the Company did no t sell any shares of its common stock pursuant to the A TM Agreement. The shares of common stock issuable under the ATM Agreement were registered under the Securities Act pursuant to the Company’s Registration Statement on Form S-3 (File 333-248974), which ceased to be effective on November 2, 2023. The Company has elected to not renew the ATM agreement. MFP Warrants On September 22, 2022, the Company entered into a Subordinate Loan and Security Agreement, or the MFP Loan Agreement, with MFP, pursuant to which any draw CIBC may make on the MFP Letter of Credit will be deemed to be a term loan advance made by MFP to the Company (see Note 8 ). Pursuant to the terms and conditions of the MFP Loan Agreement and subsequent amendments on October 28, 2022, December 22, 2022 and March 22, 2023, warrants to purchase a total of 2,633,400 shares of the Company’s common stock were issued to MFP in fiscal 2023. All w arrants will expire five years from the date of issuance and have exercise prices ranging from $ 1.60 - $ 2.15 per share. The stated purchase prices of all of the MFP Warrants are subject to adjustment in connection with any stock dividends and splits, distributions with respect to com mon stock and certain fundamental transactions as described in the MFP Warrant. The MFP Warrants were valued using the Black-Scholes-Merton model as of the respective issue dates and recorded as financial commitment assets within Prepaid expenses and other current assets on the condensed consolidated balance sheets. The MFP Warrants financial commitment assets are amortized on a straight-line basis over the period from their initial issue dates through the end of the related MFP Letter of Credit commitment periods. During the three and six months ended December 31, 2023 , an aggregate value of $ 212,873 and $ 425,746 , respectively, was a mortized as interest expense. For further details on the MFP Warrants, refer to Note 12 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023. MFP is the Company’s largest shareholder. One of the Company’s directors, Alexander C. Matina, was Portfolio Manager of MFP Investors LLC, the general partner of MFP, until December 31, 2023, at which point he transitioned to an advisor role for MFP Investors LLC. Mr. Matina will continue to serve on the Company's board of directors.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
EQUITY-BASED COMPENSATION	NOTE 11 - EQUITY-BASED COMPENSATION Stock Options The Company utilizes a Black-Scholes-Merton option pricing model, which includes assumptions regarding the risk-free interest rate, dividend yield, life of the award, and the volatility of the Company's common stock to estimate the fair value of employee options grants. Weighted-average assumptions used in the Black-Scholes-Merton model are set forth below for the periods indicated: December 31, 2023 December 31, 2022 Risk free rate 4.45 % - 4.78 % 2.87 % - 4.41 % Dividend yield — — Volatility 70.3 % - 70.6 % 64.7 % - 66.1 % Forfeiture rate 10.6 % 8.7 % During the six months ended December 31, 2023, the Company granted options to purchase 323,649 shares of its common stock to certain of its directors, members of the executive management team, other employees, and non-employee service providers at exercise prices ranging fr om $ 0.66 - $ 0.77 per s hare. These options vest in either quarterly or annual periods over one to three years and expire ten years from the date of grant. A summary of stock option activity for the six months ended December 31, 2023 and the year ended June 30, 2023 is presented below: Number of Weighted - Weighted- Aggregate Outstanding at June 30, 2022 4,637,100 $ 2.64 6.6 $ — Granted 1,389,675 1.25 Exercised ( 2,100 ) 0.95 Canceled/forfeited/expired ( 947,707 ) 2.84 Outstanding at June 30, 2023 5,076,968 $ 2.23 7.1 $ 292,079 Granted 323,649 0.76 Canceled/forfeited/expired ( 281,601 ) 2.52 Outstanding at December 31, 2023 5,119,016 $ 2.12 7.2 $ 1,977 Options vested and exercisable at December 31, 2023 3,849,028 $ 2.37 6.6 $ — Options vested and expected to vest at December 31, 2023 5,107,873 $ 2.12 7.2 $ 1,963 The weighted average grant date per share fair value of options granted during the three and six months ended December 31, 2023 was $ 0.43 . On December 31, 2023 , the Company had $ 561,804 of unrecognized stock compensation expense, net of estimated forfeitures, related to the options under the S&W Seed Company 2009 Equity Incentive Plan and the S&W Seed Company 2019 Equity Incentive Plan, or 2019 Plan, which will be recognized over the weighted average remaining service period of 1.52 years. The Company settles employee stock option exercises with newly issued shares of common stock. Restricted Stock Units During the six months ended December 31, 2023 and 2022, the Compan y issued 907,073 and 431,707 restricted stock units, respectively, to its directors, certain members of the executive management team, other employees, and non-employee service p roviders. The restricted stock units have varying vesting periods ranging from immediate vesting to q uarterly or annual installments over one to three years . The fair value of the awards granted during the six months ended December 31, 2023 and 2022 totaled $ 528,858 and $ 443,375 , respectively, and was based on the closing stock price on the date of grants. A summary of activity related to non-vested restricted stock units is presented below: Number of Weighted-Average Weighted-Average Nonvested restricted units outstanding at June 30, 2022 267,919 $ 2.66 1.2 Granted 534,628 1.14 1.5 Vested ( 353,649 ) 2.22 — Forfeited ( 8,750 ) 2.50 — Nonvested restricted units outstanding at June 30, 2023 440,148 $ 1.17 1.4 Granted 907,073 0.58 1.2 Vested ( 346,122 ) 1.20 — Nonvested restricted units outstanding at December 31, 2023 1,001,099 $ 0.63 1.3 On December 31, 2023 , the Company had $ 588,711 of unrecognized stock compensation expense related to the restricted stock units, which will be recognized over the weighted average remaining service period of 1.33 years. Stock-based Compensation Expense Stock-based compensation expense recorded for grants of stock options, restricted stock grants and restricted stock units for the three months ended December 31, 2023 and 2022 totaled $ 283,327 and $ 305,894 , respectively. Stock-based compensation expense recorded for grants of stock options, restricted stock and restricted stock units for the six months ended December 31, 2023 and 2022 totaled $ 695,147 and $ 762,006 , respectively. On December 31, 2023, there w ere 730,490 share s available under the 2019 Plan for future grants and awards.

Series B Convertible Preferred

Series B Convertible Preferred Stock	6 Months Ended
	Dec. 31, 2023
Temporary Equity Disclosure [Abstract]
Series B Convertible Preferred Stock	NOTE 12 – SERIES B CONVERTIBLE PREFERRED STOCK The terms and conditions of the Company’s Series B Convertible Preferred Stock and accompanying warrant are presented in Note 14 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023 . No issuances or conversions of Series B Convertible Preferred Stock occurred during the six months ended December 31, 2023. Activity in the period consisted of accrual of dividends and accretion of the discount on the Warrants. The following summarizes changes to the Series B Convertible Preferred Stock: Balance at June 30, 2022 $ 4,804,819 Dividends accrued 365,979 Accretion of discount for warrants 103,350 Balance at June 30, 2023 $ 5,274,148 Dividends accrued 192,800 Accretion of discount for warrants 51,676 Balance at December 31, 2023 $ 5,518,624

Non-Cash Activities for Stateme

Non-Cash Activities for Statements of Cash Flows	6 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
NON-CASH ACTIVITIES FOR STATEMENTS OF CASH FLOWS	NOTE 13 - NON-CASH ACTIVITIES FOR STATEMENTS OF CASH FLOWS The below table represents supplemental information to the Company’s condensed consolidated statements of cash flows for non-cash activities during the six months ended December 31, 2023 and 2022, respectively. Six Months Ended December 31, 2023 2022 Non-cash investing activities: ROU assets financed by lease liabilities $ 1,233,300 $ 381,576 Contribution of intangible assets to Trigall in exchange for equity investment and promissory note — 1,750,000 Non-cash financing activities: Warrants issued for financial commitment asset — 802,901 Dividends accrued for participating securities 192,800 176,447 Accretion of discount for Series B preferred stock warrants 51,676 51,676

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Estimates are adjusted to reflect actual experience when necessary. Significant estimates and assumptions affect many items in the financial statements. These include allowance for doubtful trade receivables, inventory valuation, the carrying value of the Company's equity investments, asset impairments, provisions for income taxes, grower accruals (an estimate of amounts payable to farmers who grow seed for the Company), contingencies and litigation. Significant estimates and assumptions are also used to establish the fair value and useful lives of depreciable tangible and certain intangible assets as well as valuing stock-based compensation. Actual results may differ from those estimates and assumptions, and such results may affect income, financial position or cash flows. The Company believes the estimates and assumptions underlying the accompanying condensed consolidated financial statements are reasonable and supportable based on the information available at the time the financial statements were prepared. However, certain adverse geopolitical and macroeconomic events, such as the ongoing military conflict between Ukraine and Russia and related sanctions, the armed conflict in Sudan, the war between Israel and Hamas, and uncertain market conditions, including higher inflation and supply chain disruptions, have, among other things, negatively impacted the global economy, created significant volatility and disruption of financial markets, and significantly increased economic and demand uncertainty. These factors make many of the estimates and assumptions reflected in these condensed consolidated financial statements inherently less certain. Therefore, actual results may ultimately differ from those estimates to a greater degree than historically.
Liquidity and Going Concern	Liquidity and Going Concern The Company is not profitable and has recorded negative cash flows for the last several years. For the six months ended December 31, 2023, the Company rep orted a net loss of $ 12.5 million. While the Company did report net cash provided by operations of $ 1.4 million for the six months ended December 31, 2023, it expects this to be negative in fiscal 2024. The positive cash flow in operations for the six months ended December 31, 2023 was largely due to changes in operating assets and liabilities. As of December 31, 2023 , the Company had cash on hand of $ 1.1 million. The Company had $ 2.4 million of unu sed availability from its working capital facilities as of December 31, 2023 (see Note 8 for further discussion) . In relation to the partnerships formed in fiscal 2023, the Company received $ 1.0 million from Trigall Genetics S.A., or Trigall, in January 2024 and received $ 6.0 million from Equilon Enterprises LLC (dba Shell Oil Products, or Shell) in February 2024. The Company is obligated to make an additional $ 0.3 million in capital contributions to Trigall Australia Pty Ltd, or Trigall Australia, through June 2025. The Company’s Amended and Restated Loan and Security Agreement, or the Amended CIBC Loan Agreement, with CIBC Bank USA, or CIBC, and its debt facilities with National Australia Bank, or NAB, under the NAB Finance Agreement, contain various operating and financial covenants (refer to Note 8). Adverse geopolitical and macroeconomic events and other factors affecting the Company’s results of operations have increased the risk of the Company’s inability to comply with these covenants, which could result in acceleration of its repayment obligations and foreclosure on its pledged assets. The Amended CIBC Loan Agreement as presently in effect requires the Company to meet minimum adjusted EBITDA levels on a quarterly basis and the NAB Finance Agreement includes an undertaking that requires the Compa ny to maintain a net related entity position of not more than USD $ 18.5 million and a minimum interest cover ratio at each fiscal year-end. As of December 31, 2023, the Company was in compliance with the CIBC minimum adjusted EBITDA covenant as well as the NAB net related entity position covenant. While the Company was in compliance with these covenants, there can be no assurance the Company will be successful in meeting its covena nts or securing future waivers and/or amendments from its lenders. Currently, the Company does not expect to meet certain of these covenants in fiscal 2024. If the Company is unsuccessful in meeting its covenants or securing future waivers and/or amendments from its lenders and cannot obtain other financing, it may need to reduce the scope of its operations, repay amounts owed to its lenders and/or sell certain assets. Further, if the Company cannot renew or obtain other financing when its two major debt facilities with CIBC and NAB expire on August 31, 2024 and March 31, 2025, respectively, it may need to reduce the scope of its operations, repay amounts owed to its lenders and/or sell certain assets. These operating and liquidity factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The Co mpany’s condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Cost of Revenue	Cost of Revenue The Company records purchasing and receiving costs, inspection costs and warehousing costs in Cost of revenue. When the Company is required to pay for outward freight and/or the costs incurred to deliver products to its customers, the costs are included in Cost of revenue.
Cash and Cash Equivalents	Cash and Cash Equivalents For financial statement presentation purposes, the Company considers time deposits, certificates of deposit and all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. At times, cash and cash equivalents balances exce ed amounts insured by the Federal Deposit Insurance Corporation. Cash balances located outside of the United States may not be insured and totaled $ 220,188 and $ 191,766 o n December 31, 2023 and June 30, 2023, respectively. Cash balances residing in the United States exceeding the Federal Deposit Insurance Corporation limit of $ 250,000 totaled $ 664,182 and $ 2,957,028 on December 31, 2023 and June 30, 2023, respectively.
International Operations	International Operations The Company translates its foreign operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at the current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in the cumulative translation account, a component of accumulated other com prehensive income (loss). Gains or losses from foreign currency transactions are included in the condensed consolidated statement of operations. For the three months ended December 31, 2023, a $ 0.7 million foreign currency transaction loss was recognized within Cost of revenue and a $ 0.2 million foreign currency loss was recorded to Other (income) expense. For the three months ended December 31, 2022, a $ 0.8 million foreign currency loss was recognized within Cost of revenue and a $ 0.2 million foreign currency loss was recorded to Other (income) expense. For the six months ended December 31, 2023, a $ 0.0 million foreign currency transaction loss was recognized within Cost of revenue and a $ 0.6 million foreign currency loss was recorded to Other (income) expense. For the six months ended December 31, 2022, a $ 0.2 million foreign currency gain was recognized within Cost of revenue and a $ 0.4 million foreign currency loss was recorded to Other (income) expense.
Accounts Receivable	Accounts Receivable The Company provides an allowance for doubtful trade receivables equal to the estimated uncollectible amounts. Prior to July 1, 2023, that estimate is based on historical collection experience, current economic and market conditions and a review of the current status of each customer’s trade accounts receivable. Effective July 1, 2023, in determining the Company's reserve for credit losses, receivables are assigned an e xpected loss based on historical information adjusted for forward-looking economic factors. The allowance for doubtful trade receivables was $ 535,855 and $ 209,757 on December 31, 2023 and June 30, 2023, respectively.
Inventories	Inventories Inventories consist of seed and packaging materials. Inventories are stated at the lower of cost or net realizable value, and an inventory reserve permanently reduces the cost basis of inventory. Inventories are valued as follows: Actual cost is used to value raw materials such as packaging materials, as well as goods in process. Costs for substantially all finished goods, which include the cost of carryover crops from the previous year, are valued at actual cost. Actual cost for finished goods includes plant conditioning and packaging costs, direct labor and raw materials and manufacturing overhead costs based on normal capacity. The Company records abnormal amounts of idle facility expense, freight, handling costs and wasted material (spoilage) as current period charges and allocates fixed production overhead to the costs of finished goods based on the normal capacity of the production facilities. Inventory is periodically reviewed to determine if it is marketable, obsolete or impaired. Inventory that is determined to be obsolete or impaired is written off to expense at the time the impairment is identified. Inventory quality is a function of germination percentage. Our experience has shown that our alfalfa seed quality tends to be stable under proper storage conditions; therefore, we do not view inventory obsolescence for alfalfa seed as a material concern. Hybrid crops (sorghum and sunflower) seed quality may be affected by warehouse storage pests such as insects and rodents. The Company maintains a strict pest control program to mitigate risk and maximize hybrid seed quality. Components of inventory are as follows: As of As of December 31, 2023 June 30, 2023 Raw materials and supplies $ 2,840,364 $ 3,309,211 Work in progress 8,811,322 6,409,554 Finished goods 34,356,394 35,379,503 Inventories, net $ 46,008,080 $ 45,098,268
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is depreciated using the straight-line method over the estimated useful life of the asset - periods of 5 to 35 years for buildings, 3 to 20 years for machinery and equipment, and 3 to 5 years for vehicles.
Intangible Assets	Intangible Assets Intangible assets acquired in business acquisitions are reported at their initial fair value less accumulated amortization. Intangible assets are amortized using the straight-line method over the estimated useful life of the asset. Periods of 10 to 30 years for technology/IP/germplasm, 5 to 20 years for customer relationships and trade names and 10 to 20 for other intangible assets. The weighted average estimated useful lives are 25 years for technology/IP/germplasm, 19 years for customer relationships, 16 years for trade names, and 18 years for other intangible assets as of December 31, 2023.
Investments	Investments In fiscal 2023, the Company entered into two partnerships resulting in a 34 % ownership interest in Vision Bioenergy Oilseeds LLC, or Vision Bioenergy, and a 20 % ownership interest in Trigall Australia Pty Ltd, or Trigall Australia. Following the initial recording of each investment, the Company assesses and records its share of equity earnings from each investment on a quarterly basis, resulting in the investment carrying value increasing or decreasing depending on whether a gain or loss is recorded. For Trigall Australia, the Company is also required to make capital contributions, which increases the carrying value of the investment.
Research and Development Costs	Research and Development Costs The Company is engaged in ongoing research and development, or R&D, of proprietary seed varieties. All R&D costs must be charged to expense as incurred. Accordingly, internal R&D costs are expensed as incurred. Third-party R&D costs are expensed when the contracted work has been performed or as milestone results have been achieved. The costs associated with equipment or facilities acquired or constructed for R&D activities that have alternative future uses are capitalized and depreciated on a straight-line basis over the estimated useful life of the asset.
Income Taxes	Income Taxes Deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities, as well as a consideration of net operating loss and credit carry forwards, using enacted tax rates in effect for the period in which the differences are expected to impact taxable income. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company’s effective tax rate for the three and six months ended December 31, 2023 and 2022 ha s been affected by the valuation allowance on the Company’s deferred tax assets.
Net Income (Loss) Per Common Share Data	Net Income (Loss) Per Common Share Data The Company computes earnings per share using the two-class method. The two-class method requires an earnings allocation formula that determines earnings per share for common shareholders and participating security holders according to dividends declared and participating rights in undistributed earnings. The Company's Series B Preferred Stock and related warrant, or Series B Warrant (see Note 14 of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended June 30, 2023 , as filed with the SEC), are participating securities because holders of such shares have non-forfeitable dividend rights and participate in any undistributed earnings with common stock. Under the two-class method, total dividends provided to the holders of participating securities and undistributed earnings allocated to participating securities, are subtracted from net income attributable to the Company in determining net loss attributable to common shareholders in the two-class earnings per share, or EPS, calculation. Accretion to the redemption value for the Series B Preferred Stock is also treated as a deemed dividend and subtracted from net income attributable to shareholders. There were no undistributed earnings to allocate to the participating securities in the three and six month periods ended December 31, 2023 and 2022. The calculation of net loss per common share is shown in the table below: Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net loss attributable to S&W Seed Company $ ( 6,468,852 ) $ ( 5,986,005 ) $ ( 12,418,481 ) $ ( 10,494,946 ) Dividends accrued for participating securities ( 98,593 ) ( 88,224 ) ( 192,800 ) ( 176,447 ) Accretion of Series B Preferred Stock redemption value ( 25,838 ) ( 25,838 ) ( 51,676 ) ( 51,676 ) Numerator for net loss per common share - basic and diluted $ ( 6,593,283 ) $ ( 6,100,067 ) $ ( 12,662,957 ) $ ( 10,723,069 ) Denominator: Weighted average shares outstanding - basic and diluted 43,091,438 42,651,270 43,050,329 42,627,645 Net loss per common share - basic and diluted $ ( 0.15 ) $ ( 0.14 ) $ ( 0.29 ) $ ( 0.25 ) Anti-dilutive shares, which have been excluded from the computation of diluted income (loss) per share, included 5,119,016 employee stock options, 1,695,000 shares issuable upon conversion of the Series B Convertible Preferred Stock, warrants to purchase 2,633,400 shares of common stock related to the MFP Loan Agreement (as defined below), 559,350 warrants issued with the Company's Series B Convertible Preferred Stock, and 1,001,099 restricted stock units. Th e terms and conditions of these securities are more fully described in Note 11 and Note 12 in these condensed consolidated financial statements and in Note 13 and Note 14 of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended June 30, 2023, as filed with the SEC. For the period ended December 31, 2023 and 2022 , all potentially dilutive shares were anti-dilutive and excluded from the calculation of diluted loss per share because net losses were recognized.
Concentrations	Concentrations Two customers accounted for 28 % and one customer accounted for 17 % of the Company's revenue for the three and six months ended December 31, 2023, respectively. One customer accounted for 8 % and 11 % of the Company's revenue for the three and six months ended December 31, 2022, respectively. Two customers accounted for 37 % of the Company's accounts receivable as of December 31, 2023 and no one customer a ccounted for more than 10 % of the Company’s accounts receivable as of June 30, 2023. The Company sells a substantial portion of its products to international customers (see Note 4). Sales to international markets represented 48 % and 81 % of revenue during the three months ended December 31, 2023 and 2022 , respectively. Sales to international markets represented 68 % and 86 % of rev enue during the six months ended December 31, 2023 and 2022, respectively. The net book value of fixed assets located outside the United States w as 31 % of total fixed assets on December 31, 2023 and June 30, 2023 .
Derivative Financial Instruments	Derivative Financial Instruments The Company’s subsidiary, S&W Australia, is exposed to foreign currency exchange rate fluctuations in the normal course of its business, which the Company at times manages through the use of foreign currency derivative financial instruments. The Company has entered into foreign currency forward contracts and foreign currency call options (see Note 9) and accounts for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging,” which establishes accounting and reporting standards requiring that derivative instruments be recorded on the balance sheet as either an asset or liability measured at fair value. The Company’s foreign currency contracts and options are not designated as hedging instruments under ASC 815; accordingly, changes in the fair value are recorded in current period earnings. Premiums paid for foreign currency options with strike prices below the spot market price when acquired represent the time value of the option, as there is no intrinsic value. Such premiums are recorded as a current asset and amortized over the option term. Cu rrency options are measured at fair value if the market price at the reporting date exceeds the strike price. When the strike price exceeds the market price, no liability is recorded as the Company has no obligation to exercise the options.
Fair Values of Financial Instruments	Fair Value of Financial Instruments The Company discloses assets and liabilities that are recognized and measured at fair value, presented in a three-tier fair value hierarchy, as follows: • Level 1. Observable inputs such as quoted prices in active markets; • Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and • Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying value of cash and cash equivalents, accounts payable, short-term and all long-term borrowings, as reflected in the condensed consolidated balance sheets, approximate fair value because of the short-term maturity of these instruments or interest rates commensurate with market rates. There have been no changes in operations and/or credit characteristics since the date of issuance that could impact the relationship between interest rate and market rates. S&W received a $ 6.0 million note receivable due from Shell in connection with the Vision Bioenergy partnership transaction (see Note 7). The note, which is due in February 2024, was initially recorded at its $ 5.7 million present value discounted at a rate of 4.4 %, which is ou r estimated discount rate for similar instruments. The receivable balance is being accreted to the full receivable amount on a straight-line basis over the remaining receivable term due to its short-term maturity. The receivable balance was $ 6.0 million as of December 31 , 2023. This payment was received by the Company in February 2024. Also in conjunction with the Vision Bioenergy partnership transaction, S&W received a one-time option, or Purchase Option, exercisable at any time on or before the fifth anniversary of the closing of the partnership transaction, to repurchase a 6 % membership interest from Shell. The option repurchase prices range between approximately $ 7.1 and $ 12.0 million, depending on the date on which such purchase is completed. The Purchase Option was valued at $ 0.7 million using a lattice option valuation model. The valuation model incorporated significant, unobservable inputs including a discounted cash flow model based on management projections of future Vision Bioenergy results and an estimate of the current per share value of Vision Bioenergy shares. In the model, the estimate of the current per share value was discounted to account for lack of control and marketability, which were considered to be part of the unit of account given the restrictions of the limited liability company agreement that governs the ownership rights of the members. Other unobservable inputs included the risk-free rates and the estimated future stock volatility based on the historical stock price volatilities of other market participants. A full fair value ana lysis will be performed at each fiscal year-end or when there is an indication that there may be an impairment to the valuation. Management will estimate and adjust the balance for interim periods. A fair value analysis was performed as of June 30, 2023, which resulted in no material adjustment to the fair value. No indicators have been identified for the six months ended December 31, 2023 to suggest any material change in the fair value of the purchase option. As such, there is no indication of impairment for the six months ended December 31, 2023. Quantitative information about Level 3 fair value measurement is as follows: Fair Value as of December 31, 2023 Valuation Technique Unobservable Input Range Purchase Option $ 695,000 Option Model Risk-free rate 3.8 % - 4.9 % Stock price volatility 60 % - 65 % Lack of control premium 13 % Lack of marketability premium 30 % Assets and liabilities that are recognized and measured at fair value on a recurring basis are categorized as follows: Fair Value Measurements as of December 31, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 203,440 $ — Note receivable due from Shell — 5,974,366 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,177,806 $ 695,000 Fair Value Measurements as of June 30, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 849,033 $ — Note receivable due from Shell — 5,846,890 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,695,923 $ 695,000
Recent Accounting Pronouncements Not Yet Adopted	Recent Adopted Accounting Pronouncements Effective July 1, 2023, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was subsequently amended in November 2018 through ASU No. 201819, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2016-13”). The amended guidance requires entities to estimate lifetime expected credit losses for trade and other receivables, including those that are current with respect to payment terms, along with other financial instruments which may result in earlier recognition of credit losses. The Company evaluated its existing methodology for estimating an allowance for doubtful accounts and the risk profile of its receivables portfolio and developed a model that includes the qualitative and forecasting aspects of the “expected loss” model under the amended guidance. In determining the Company’s reserve for credit losses, receivables are assigned an expected loss based on historical information adjusted for forward-looking economic factors. The adoption of ASU 2016-13 did not have a material impact on the Company’s condensed consolidated financial statements. We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not have a material impact on our condensed consolidated statements of operations, comprehensive income, balance sheets, or cash flows.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Components of Inventory	Components of inventory are as follows: As of As of December 31, 2023 June 30, 2023 Raw materials and supplies $ 2,840,364 $ 3,309,211 Work in progress 8,811,322 6,409,554 Finished goods 34,356,394 35,379,503 Inventories, net $ 46,008,080 $ 45,098,268
Schedule of Calculation of Net Loss Per Common Share	The calculation of net loss per common share is shown in the table below: Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net loss attributable to S&W Seed Company $ ( 6,468,852 ) $ ( 5,986,005 ) $ ( 12,418,481 ) $ ( 10,494,946 ) Dividends accrued for participating securities ( 98,593 ) ( 88,224 ) ( 192,800 ) ( 176,447 ) Accretion of Series B Preferred Stock redemption value ( 25,838 ) ( 25,838 ) ( 51,676 ) ( 51,676 ) Numerator for net loss per common share - basic and diluted $ ( 6,593,283 ) $ ( 6,100,067 ) $ ( 12,662,957 ) $ ( 10,723,069 ) Denominator: Weighted average shares outstanding - basic and diluted 43,091,438 42,651,270 43,050,329 42,627,645 Net loss per common share - basic and diluted $ ( 0.15 ) $ ( 0.14 ) $ ( 0.29 ) $ ( 0.25 )
Schedule of Quantitative Information About Level 3 Fair Value Measurement	Quantitative information about Level 3 fair value measurement is as follows: Fair Value as of December 31, 2023 Valuation Technique Unobservable Input Range Purchase Option $ 695,000 Option Model Risk-free rate 3.8 % - 4.9 % Stock price volatility 60 % - 65 % Lack of control premium 13 % Lack of marketability premium 30 %
Schedule of Assets and Liabilities Recognized and Measured at Fair Value on Recurring Basis	Assets and liabilities that are recognized and measured at fair value on a recurring basis are categorized as follows: Fair Value Measurements as of December 31, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 203,440 $ — Note receivable due from Shell — 5,974,366 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,177,806 $ 695,000 Fair Value Measurements as of June 30, 2023 Using: Level 1 Level 2 Level 3 Foreign exchange contract liability $ — $ 849,033 $ — Note receivable due from Shell — 5,846,890 — Vision Bioenergy interest purchase option — — 695,000 Total $ — $ 6,695,923 $ 695,000

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2023
Lessee Disclosure [Abstract]
Summary of Components of Lease Assets and Liabilities	The components of lease assets and liabilities as of December 31, 2023 and June 30, 2023 are as follows: Leases Balance Sheet Classification: As of December 31, 2023 As of June 30, 2023 Assets: Right of use assets - finance leases $ 1,974,113 $ 1,759,094 Accumulated amortization - finance leases ( 1,038,695 ) ( 1,088,294 ) Right of use assets - finance leases, net Other assets 935,418 670,800 Right of use assets - operating leases Right of use assets - operating leases 2,825,742 2,983,303 Total lease assets $ 3,761,160 $ 3,654,103 Liabilities: Current lease liabilities - finance leases Current portion of long-term debt, net $ 455,647 $ 383,403 Current lease liabilities - operating leases Accrued expenses and other current liabilities 1,087,366 1,335,568 Long-term portion of lease liabilities - Long-term debt, net, less current portion 496,894 304,761 Long-term portion of lease liabilities - Other non-current liabilities 1,912,721 1,949,604 Total lease liabilities $ 3,952,628 $ 3,973,336
Summary of Components of Lease Cost	The components of lease cost are as follows: Three Months Ended Six Months Ended Lease cost: Income Statement Classification: 2023 2022 2023 2022 Operating lease cost Cost of revenue $ 219,796 $ 163,389 $ 395,462 $ 347,249 Operating lease cost Selling, general and administrative expenses 41,078 54,914 82,130 110,248 Operating lease cost Research and development expenses 158,315 88,620 277,542 224,817 Finance lease cost Depreciation and amortization 142,968 125,949 262,438 265,639 Finance lease cost Interest expense, net 21,992 12,841 33,883 28,791 Total lease costs $ 584,149 $ 445,713 $ 1,051,455 $ 976,744
Summary of Maturities of Lease Liabilities	Maturities of lease liabilities as of December 31, 2023, are as follows: Fiscal Year Operating Leases Finance Leases Remainder of 2024 740,715 289,776 2025 1,005,989 410,806 2026 852,514 309,233 2027 516,330 50,901 2028 183,599 — Thereafter 56,967 — Total lease payments 3,356,114 1,060,716 Less: Interest ( 356,027 ) ( 108,175 ) Present value of lease liabilities $ 3,000,087 $ 952,541
Summary of Weighted Average Assumptions on Lease Term and Discount Rate and Supplemental Cash Flow Information Related to Leases	The following are the weighted average assumptions used for lease term and discount rate and supplemental cash flow information related to leases as of December 31, 2023: Operating lease remaining lease term 3.2 years Operating lease discount rate 5.67 % Finance lease remaining lease term 2.1 years Finance lease discount rate 8.49 % Cash paid for operating leases $ 622,401 Cash paid for finance leases $ 341,912

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2023
Revenues [Abstract]
Schedule of disaggregation of revenues	The Company disaggregates revenue by type of contract and by destination country. The following table shows revenue from external sources by type of contract: Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 Seed sales $ 10,665,281 $ 12,834,831 $ 26,707,239 $ 32,672,618 Services 199,528 102,971 590,036 131,049 Total revenue $ 10,864,809 $ 12,937,802 $ 27,297,275 $ 32,803,667
Schedule of Revenues and Percentage of Revenue from External Customers by Country	The following tables show revenue and percentage of revenue from external sources by destination country: Three Months Ended December 31, Six Months Ended December 31, 2023 2022 2023 2022 United States $ 5,676,396 52 % $ 2,455,133 19 % $ 8,696,966 32 % $ 4,716,140 14 % Saudi Arabia ( 180,903 ) - 2 % 2,165,680 17 % 4,178,827 15 % 7,339,344 22 % Mexico 1,904,895 18 % 1,092,320 8 % 3,467,712 13 % 3,815,523 12 % Australia 1,446,044 14 % 2,569,026 20 % 3,452,241 13 % 5,154,858 16 % South Africa 309,089 3 % 747,741 6 % 2,241,422 8 % 1,064,006 3 % Libya 682,200 6 % ( 2,439 ) 0 % 1,755,000 7 % 2,995,608 9 % Sudan — 0 % 1,506,819 12 % 1,421,527 5 % 2,303,702 7 % Pakistan 371,868 3 % 531,472 4 % 955,000 3 % 1,353,091 4 % Egypt 348,000 3 % 588,600 4 % 348,000 1 % 595,180 2 % Uganda 289,935 3 % — 0 % 329,935 1 % — 0 % Other 17,285 0 % 1,283,450 10 % 450,645 2 % 3,466,215 11 % Total revenue $ 10,864,809 100 % $ 12,937,802 100 % $ 27,297,275 100 % $ 32,803,667 100 %

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: Balance at Other Additions and Disposals Amortization Currency Translation Adjustment Balance at Intellectual property $ 21,650,534 $ — $ ( 692,458 ) $ — $ 20,958,076 Trade name 880,933 — ( 92,641 ) 2,642 790,934 Customer relationships 4,968,675 — ( 171,967 ) 116,044 4,912,752 GI customer list 35,819 — ( 3,582 ) — 32,237 Supply agreement 699,608 — ( 37,817 ) — 661,791 Grower relationships 1,226,175 — ( 52,703 ) — 1,173,472 Internal use software 271,115 — ( 33,889 ) — 237,226 $ 29,732,859 $ — $ ( 1,085,057 ) $ 118,686 $ 28,766,488 Balance at Other Additions and Disposals Amortization Currency Translation Adjustment Balance at Intellectual property $ 23,035,925 $ — $ ( 1,385,391 ) $ — $ 21,650,534 Trade name 1,084,791 — ( 196,627 ) ( 7,231 ) 880,933 Customer relationships 5,499,815 — ( 353,000 ) ( 178,140 ) 4,968,675 GI customer list 42,983 — ( 7,164 ) — 35,819 Supply agreement 775,241 — ( 75,633 ) — 699,608 Grower relationships 1,331,581 — ( 105,406 ) — 1,226,175 License agreement 1,986,598 ( 1,885,907 ) ( 75,610 ) ( 25,081 ) — Internal use software 338,893 — ( 67,778 ) — 271,115 $ 34,095,827 $ ( 1,885,907 ) $ ( 2,266,609 ) $ ( 210,452 ) $ 29,732,859
Intangible Assets (Future Amortization)	Estimated aggregate remaining amortization is as follows: 2024 2025 2026 2027 2028 Thereafter Amortization expense $ 1,522,334 $ 2,120,172 $ 1,980,015 $ 1,929,131 $ 1,871,840 $ 19,342,996

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	Components of property, plant and equipment were as follows: As of As of December 31, 2023 June 30, 2023 Land and improvements $ 949,088 $ 939,089 Buildings and improvements 3,377,702 3,356,755 Machinery and equipment 12,686,592 12,667,858 Vehicles 778,632 605,891 Leasehold improvements 552,810 552,810 Construction in progress 920,411 177,538 Total property, plant and equipment 19,265,235 18,299,941 Less: accumulated depreciation ( 8,914,348 ) ( 8,217,773 ) Property, plant and equipment, net $ 10,350,887 $ 10,082,168

Investments (Tables)

Investments (Tables)	6 Months Ended
	Dec. 31, 2023
Vision Bioenergy
Schedule of Equity Method Investments [Line Items]
Summary of Equity Method Investments	The summarized unaudited balance sheets presented below reflects the financial information of Vision Bioenergy as of December 31, 2023 and June 30, 2023: As of December 31, 2023 (Unaudited) As of June 30, Cash $ 2,410,607 $ 8,973,896 Other current assets 2,654,196 747,090 Fixed assets 16,952,960 15,051,799 Intangible assets 17,769,680 18,575,108 Goodwill 11,615,424 11,870,376 Other assets 214,094 255,899 TOTAL ASSETS $ 51,616,961 $ 55,474,168 Current liabilities $ 1,927,041 $ 1,381,493 Long-term liabilities 140,551 176,203 Equity 49,549,369 53,916,472 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 51,616,961 $ 55,474,168 The summarized unaudited income statement presented below reflects the financial information of Vision Bioenergy for the three and six months ended December 31, 2023: Three Months Ended December 31, 2023 (Unaudited) Six Months Ended December 31, 2023 (Unaudited) Revenue $ 1,074,934 $ 1,228,924 Gross profit (loss) 619,646 ( 327,005 ) Loss from operations ( 1,794,747 ) ( 4,624,553 ) Net loss ( 1,750,017 ) ( 4,509,196 )
Trigall Australia Pty Ltd
Schedule of Equity Method Investments [Line Items]
Summary of Equity Method Investments	The following summarizes the carrying amount of the Company's equity method investments reflected in the condensed consolidated balance sheets: As of December 31, 2023 As of June 30, 2023 Carrying Amount Economic Interest Carrying Amount Economic Interest Vision Bioenergy $ 20,953,474 34 % $ 22,307,486 34 % Trigall Australia 671,169 20 % 752,219 20 % Total equity method investments $ 21,624,643 $ 23,059,705

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Total Debt Outstanding	Total debt outstanding is presented on the Company's condensed consolidated balance sheets as follows: As of December 31, 2023 As of June 30, 2023 Current portion of working capital lines of credit CIBC $ 15,815,090 $ 19,335,427 National Australia Bank Limited 28,007,685 25,938,839 Debt issuance costs ( 225,562 ) ( 373,487 ) Total current portion of working capital lines of credit, net 43,597,213 44,900,779 Total working capital lines of credit, net $ 43,597,213 $ 44,900,779 Current portion of long-term debt Finance leases $ 455,647 $ 383,403 Term Loan - National Australia Bank Limited 2,383,850 2,318,050 Machinery & equipment loans - National Australia Bank Limited 1,587,419 1,141,349 Machinery & equipment loans - Hyster 22,349 11,902 Vehicle loans - Ford Credit 102,996 51,278 Debt issuance costs ( 106,819 ) ( 97,221 ) Total current portion, net 4,445,442 3,808,761 Long-term debt, less current portion Finance leases 496,894 304,761 Machinery & equipment loans - Hyster — 15,715 Vehicle loans - Ford Credit 221,881 70,103 Secured real estate note - AgAmerica 4,300,000 4,300,000 Debt issuance costs ( 156,435 ) ( 191,245 ) Total long-term portion, net 4,862,340 4,499,334 Total debt, net $ 9,307,782 $ 8,308,095
Schedule of Annual Maturities of Long-Term Debt Excluding Finance Lease Liabilities	The annual maturities of long-term debt, excluding finance lease liabilities, are as follows: Fiscal Year Amount Remainder of 2024 $ 4,045,117 2025 77,987 2026 4,377,987 2027 77,987 2028 39,418 Total $ 8,618,496

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Assumptions Used in Black-Scholes-Merton Model	Weighted-average assumptions used in the Black-Scholes-Merton model are set forth below for the periods indicated: December 31, 2023 December 31, 2022 Risk free rate 4.45 % - 4.78 % 2.87 % - 4.41 % Dividend yield — — Volatility 70.3 % - 70.6 % 64.7 % - 66.1 % Forfeiture rate 10.6 % 8.7 %
Summary of Stock Option Activity	A summary of stock option activity for the six months ended December 31, 2023 and the year ended June 30, 2023 is presented below: Number of Weighted - Weighted- Aggregate Outstanding at June 30, 2022 4,637,100 $ 2.64 6.6 $ — Granted 1,389,675 1.25 Exercised ( 2,100 ) 0.95 Canceled/forfeited/expired ( 947,707 ) 2.84 Outstanding at June 30, 2023 5,076,968 $ 2.23 7.1 $ 292,079 Granted 323,649 0.76 Canceled/forfeited/expired ( 281,601 ) 2.52 Outstanding at December 31, 2023 5,119,016 $ 2.12 7.2 $ 1,977 Options vested and exercisable at December 31, 2023 3,849,028 $ 2.37 6.6 $ — Options vested and expected to vest at December 31, 2023 5,107,873 $ 2.12 7.2 $ 1,963
Summary of Activity Related to Non-Vested Restricted Stock Units	A summary of activity related to non-vested restricted stock units is presented below: Number of Weighted-Average Weighted-Average Nonvested restricted units outstanding at June 30, 2022 267,919 $ 2.66 1.2 Granted 534,628 1.14 1.5 Vested ( 353,649 ) 2.22 — Forfeited ( 8,750 ) 2.50 — Nonvested restricted units outstanding at June 30, 2023 440,148 $ 1.17 1.4 Granted 907,073 0.58 1.2 Vested ( 346,122 ) 1.20 — Nonvested restricted units outstanding at December 31, 2023 1,001,099 $ 0.63 1.3

Series B Convertible Preferre_2

Series B Convertible Preferred Stock (Tables)	6 Months Ended
	Dec. 31, 2023
Temporary Equity Disclosure [Abstract]
Summary of Changes to Series B Convertible Preferred Stock	The following summarizes changes to the Series B Convertible Preferred Stock: Balance at June 30, 2022 $ 4,804,819 Dividends accrued 365,979 Accretion of discount for warrants 103,350 Balance at June 30, 2023 $ 5,274,148 Dividends accrued 192,800 Accretion of discount for warrants 51,676 Balance at December 31, 2023 $ 5,518,624

Non-Cash Activities for State_2

Non-Cash Activities for Statements of Cash Flows (Tables)	6 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Condensed Consolidated Statements of Cash Flows for Non-Cash Activities	The below table represents supplemental information to the Company’s condensed consolidated statements of cash flows for non-cash activities during the six months ended December 31, 2023 and 2022, respectively. Six Months Ended December 31, 2023 2022 Non-cash investing activities: ROU assets financed by lease liabilities $ 1,233,300 $ 381,576 Contribution of intangible assets to Trigall in exchange for equity investment and promissory note — 1,750,000 Non-cash financing activities: Warrants issued for financial commitment asset — 802,901 Dividends accrued for participating securities 192,800 176,447 Accretion of discount for Series B preferred stock warrants 51,676 51,676

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Liquidity and Going Concern) - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Dec. 23, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Net loss		$ (6,494,046)	$ (5,990,593)	$ (12,450,963)	$ (10,505,796)
Net cash provided by (used in) operating activities				1,436,824	$ (8,340,411)
Cash		1,100,000		1,100,000
Line of credit facility, remaining borrowing capacity		2,400,000		2,400,000
CIBC
Summary Of Significant Accounting Policies [Line Items]
Line of credit facility, remaining borrowing capacity		2,200,000		2,200,000
Line of Credit | NAB
Summary Of Significant Accounting Policies [Line Items]
Net due from related entities covenant maximum		$ 18,500,000		18,500,000
Trigall Australia Pty Ltd
Summary Of Significant Accounting Policies [Line Items]
Additional proceeds to be received from sale of businesses in one year	$ 1,000,000
Additional capital contributions to be made in next two years				300,000
Shell | Vision Bioenergy
Summary Of Significant Accounting Policies [Line Items]
Additional proceeds to be received from sale of businesses in one year				6,000,000
Trigall Genetic S.A | Trigall Australia Pty Ltd
Summary Of Significant Accounting Policies [Line Items]
Additional proceeds to be received from sale of businesses in one year				$ 1,000,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Cash and Cash Equivalents) - Additional Information (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Summary Of Significant Accounting Policies [Line Items]
Cash balances	$ 664,182	$ 2,957,028
Federal deposit cash	250,000
Non-US [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash balances	$ 220,188	$ 191,766

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (International Operations) - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Summary Of Significant Accounting Policies [Line Items]
Foreign currency gain (loss)	$ (244,298)	$ (176,624)	$ (616,486)	$ (367,539)
Other (Income) Expense
Summary Of Significant Accounting Policies [Line Items]
Foreign currency gain (loss)	(200,000)	(200,000)	(600,000)	(400,000)
Cost of Revenue
Summary Of Significant Accounting Policies [Line Items]
Foreign currency gain (loss)	$ (700,000)	$ (800,000)	$ 0	$ (200,000)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Accounts Receivable) - Additional Information (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Accounting Policies [Abstract]
Allowance for doubtful trade receivables	$ 535,855	$ 209,757

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Components of Inventory (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 2,840,364	$ 3,309,211
Work in progress	8,811,322	6,409,554
Finished goods	34,356,394	35,379,503
Inventories, net	$ 46,008,080	$ 45,098,268

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Property, Plant and Equipment) - Additional Information (Details)	Dec. 31, 2023
Minimum | Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Minimum | Buildings
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	5 years
Minimum | Vehicles
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Maximum | Machinery and Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	20 years
Maximum | Buildings
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	35 years
Maximum | Vehicles
Summary Of Significant Accounting Policies [Line Items]
Estimated useful lives	5 years

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Intangible Assets) - Additional Information (Details)	6 Months Ended
	Dec. 31, 2023
Other Intangible Assets
Summary Of Significant Accounting Policies [Line Items]
Useful life	18 years
Other Intangible Assets | Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life	10 years
Other Intangible Assets | Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life	20 years
Trade Name
Summary Of Significant Accounting Policies [Line Items]
Useful life	16 years
Customer Relationships
Summary Of Significant Accounting Policies [Line Items]
Useful life	19 years
Customer Relationships | Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life	5 years
Customer Relationships | Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life	20 years
Technology/IP/germplasm
Summary Of Significant Accounting Policies [Line Items]
Useful life	25 years
Technology/IP/germplasm | Minimum
Summary Of Significant Accounting Policies [Line Items]
Useful life	10 years
Technology/IP/germplasm | Maximum
Summary Of Significant Accounting Policies [Line Items]
Useful life	30 years

Summary of Significant Accou_11

Summary of Significant Accounting Policies (Investments) - Additional Information (Details)	Dec. 31, 2023	Jun. 30, 2023
Trigall Australia Pty Ltd
Summary Of Significant Accounting Policies [Table]
Economic Interest	20%	20%
Vision Bioenergy Oilseeds LLC [Member]
Summary Of Significant Accounting Policies [Table]
Economic Interest	34%	34%

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Additional Information (Details)		3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 06, 2023 USD ($)	Dec. 31, 2023 USD ($) Customer	Dec. 31, 2022 USD ($) Customer	Dec. 31, 2023 USD ($) Customer shares	Dec. 31, 2022 USD ($) Customer	Jun. 30, 2023 Customer
Summary Of Significant Accounting Policies [Line Items]
Dividends accrued undistributed earnings to allocate to participating securities		$ 0	$ 0	$ 0	$ 0
Shell
Summary Of Significant Accounting Policies [Line Items]
Membership interest repurchase percent	6%
Receivables discount rate	4.40%
Fair market value of purchase option				700,000
Notes receivable, net	$ 5,700,000	$ 6,000,000		$ 6,000,000
Employee Stock Options
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive shares, excluded from computation of diluted income (loss) per share | shares				5,119,016
Series B Convertible Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive shares, excluded from computation of diluted income (loss) per share | shares				1,695,000
Shares of Common Stock Related to MFP Loan Agreement
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive shares, excluded from computation of diluted income (loss) per share | shares				2,633,400
Warrants Issued with Series B Convertible Preferred Stock
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive shares, excluded from computation of diluted income (loss) per share | shares				559,350
Restricted Stock Units (RSUs)
Summary Of Significant Accounting Policies [Line Items]
Anti-dilutive shares, excluded from computation of diluted income (loss) per share | shares				1,001,099
Minimum | Shell
Summary Of Significant Accounting Policies [Line Items]
Membership interest repurchase price	7,100,000
Maximum | Shell
Summary Of Significant Accounting Policies [Line Items]
Additional proceeds to be received from sale of businesses in one year	6,000,000
Membership interest repurchase price	$ 12,000,000
Non-US
Summary Of Significant Accounting Policies [Line Items]
Concentration of risk fixed assets amount geographic area, percent of total		31%		31%		31%
Disclosure on geographic areas, fixed assets				The net book value of fixed assets located outside the United States was 31% of total fixed assets on December 31, 2023 and June 30, 2023.
Customer Concentration Risk | Revenue
Summary Of Significant Accounting Policies [Line Items]
Number of customers | Customer		2	1	1	1
Customer Concentration Risk | One Customer | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			8%	17%	11%
Customer Concentration Risk | Two Customer | Revenue
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		28%
Credit Concentration Risk | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Number of customers | Customer				2		0
Credit Concentration Risk | Significant Customer | Accounts Receivable | Minimum
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage						10%
Credit Concentration Risk | Two Customer | Accounts Receivable
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage				37%
Geographic Concentration Risk | Revenue | Non-US
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage		48%	81%	68%	86%

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Schedule of Calculation of Net Loss Per Common Share (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Numerator:
Net loss attributable to S&W Seed Company	$ (6,468,852)	$ (5,986,005)	$ (12,418,481)	$ (10,494,946)
Dividends accrued for participating securities	(98,593)	(88,224)	(192,800)	(176,447)	$ (365,979)
Accretion of Series B Preferred Stock redemption value	(25,838)	(25,838)	(51,676)	(51,676)
Numerator for net loss per common share - basic	(6,593,283)	(6,100,067)	(12,662,957)	(10,723,069)
Numerator for net loss per common share - diluted	$ (6,593,283)	$ (6,100,067)	$ (12,662,957)	$ (10,723,069)
Denominator:
Weighted average shares outstanding - basic	43,091,438	42,651,270	43,050,329	42,627,645
Weighted average shares outstanding - diluted	43,091,438	42,651,270	43,050,329	42,627,645
Net loss per common share - basic	$ (0.15)	$ (0.14)	$ (0.29)	$ (0.25)
Net loss per common share - diluted	$ (0.15)	$ (0.14)	$ (0.29)	$ (0.25)

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Schedule of Quantitative Information About Level 3 Fair Value Measurement (Details)	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative Asset, Valuation Technique [Extensible Enumeration]	us-gaap:ValuationTechniqueOptionPricingModelMember
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Purchase option	$ 695,000	$ 695,000
Risk-free rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.038
Risk-free rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.049
Stock price volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.60
Stock price volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.65
Lack of control premium
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.13
Lack of marketability premium
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative asset, measurement input	0.30

Summary of Significant Accou_15

Summary of Significant Accounting Policies - Schedule of Assets and Liabilities Recognized and Measured at Fair Value on Recurring Basis (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign exchange contract liability	$ 0	$ 0
Note receivable due from Shell	0	0
Vision Bioenergy interest purchase option	0	0
Total	0	0
Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign exchange contract liability	203,440	849,033
Note receivable due from Shell	5,974,366	5,846,890
Vision Bioenergy interest purchase option	0	0
Total	6,177,806	6,695,923
Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign exchange contract liability	0	0
Note receivable due from Shell	0	0
Vision Bioenergy interest purchase option	695,000	695,000
Total	$ 695,000	$ 695,000

Leases - Summary of Components

Leases - Summary of Components of Lease Assets and Liabilities (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Lessee Disclosure [Abstract]
Right of use assets - finance leases	$ 1,974,113	$ 1,759,094
Accumulated amortization - finance leases	(1,038,695)	(1,088,294)
Right of use assets - finance leases, net	$ 935,418	$ 670,800
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Right of use assets - operating leases	$ 2,825,742	$ 2,983,303
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Right of use assets - operating leases	Right of use assets - operating leases
Total lease assets	$ 3,761,160	$ 3,654,103
Current lease liabilities - finance leases	$ 455,647	$ 383,403
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt, net	Current portion of long-term debt, net
Current lease liabilities - operating leases	$ 1,087,366	$ 1,335,568
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Long-term portion of lease liabilities - finance leases	$ 496,894	$ 304,761
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, net, less current portion	Long-term debt, net, less current portion
Long-term portion of lease liabilities - operating leases	$ 1,912,721	$ 1,949,604
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other non-current liabilities	Other non-current liabilities
Total lease liabilities	$ 3,952,628	$ 3,973,336

Leases - Summary of Component_2

Leases - Summary of Components of Lease Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lessee Lease Description [Line Items]
Total lease costs	$ 584,149	$ 445,713	$ 1,051,455	$ 976,744
Cost of Revenue
Lessee Lease Description [Line Items]
Operating lease cost	219,796	163,389	395,462	347,249
Selling, General and Administrative Expenses
Lessee Lease Description [Line Items]
Operating lease cost	41,078	54,914	82,130	110,248
Research and Development Expenses
Lessee Lease Description [Line Items]
Operating lease cost	158,315	88,620	277,542	224,817
Depreciation and Amortization
Lessee Lease Description [Line Items]
Finance lease cost	142,968	125,949	262,438	265,639
Interest Expense
Lessee Lease Description [Line Items]
Finance lease cost	$ 21,992	$ 12,841	$ 33,883	$ 28,791

Leases - Summary of Maturities

Leases - Summary of Maturities of Lease Liabilities (Details)	Dec. 31, 2023 USD ($)
Operating Leases
Remainder of 2024	$ 740,715
2025	1,005,989
2026	852,514
2027	516,330
2028	183,599
Thereafter	56,967
Total lease payments	3,356,114
Less: Interest	(356,027)
Present value of lease liabilities	3,000,087
Finance Leases
Remainder of 2024	289,776
2025	410,806
2026	309,233
2027	50,901
Total lease payments	1,060,716
Less: Interest	(108,175)
Present value of lease liabilities	$ 952,541

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Assumptions on Lease Term and Discount Rate and Supplemental Cash Flow Information Related to Leases (Details)	6 Months Ended
	Dec. 31, 2023 USD ($)
Lessee Disclosure [Abstract]
Operating lease remaining lease term	3 years 2 months 12 days
Operating lease discount rate	5.67%
Finance lease remaining lease term	2 years 1 month 6 days
Finance lease discount rate	8.49%
Cash paid for operating leases	$ 622,401
Cash paid for finance leases	$ 341,912

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Revenue Recognition [Line Items]
Maximum term of payments for transfer goods and services			1 year
Bad debt expense (income)	$ 307,069	$ 30,212	$ 472,411	$ (125,209)
Revenue recognized			400,000	600,000
Revenue	10,864,809	12,937,802	27,297,275	32,803,667
Vision Bioenergy
Revenue Recognition [Line Items]
Unbilled receivables	177,722		177,722		$ 203,222
Seed Sales
Revenue Recognition [Line Items]
Revenue	10,665,281	12,834,831	$ 26,707,239	32,672,618
ADAMA Collaboration Agreement
Revenue Recognition [Line Items]
Total share value percentage			60%
ADAMA Collaboration Agreement | Seed Sales
Revenue Recognition [Line Items]
Revenue	$ 4,000,000	$ 1,200,000	$ 4,500,000	$ 1,200,000
ADAMA Collaboration Agreement | Makhteshim Agan of North America, Inc.
Revenue Recognition [Line Items]
Total share value percentage			40%
Minimum
Revenue Recognition [Line Items]
Term of customer invoice payment			30 days
Maximum
Revenue Recognition [Line Items]
Term of customer invoice payment			180 days
Maximum | ADAMA Collaboration Agreement
Revenue Recognition [Line Items]
Total share value percentage			100%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Total revenue	$ 10,864,809	$ 12,937,802	$ 27,297,275	$ 32,803,667
Seed Sales
Disaggregation Of Revenue [Line Items]
Total revenue	10,665,281	12,834,831	26,707,239	32,672,618
Services
Disaggregation Of Revenue [Line Items]
Total revenue	$ 199,528	$ 102,971	$ 590,036	$ 131,049

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenues and Percentage of Revenue from External Customers by Country (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 10,864,809	$ 12,937,802	$ 27,297,275	$ 32,803,667
Revenue from external customers by country, percentage	100%	100%	100%	100%
United States
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 5,676,396	$ 2,455,133	$ 8,696,966	$ 4,716,140
Revenue from external customers by country, percentage	52%	19%	32%	14%
Saudi Arabia
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ (180,903)	$ 2,165,680	$ 4,178,827	$ 7,339,344
Revenue from external customers by country, percentage	(2.00%)	17%	15%	22%
Mexico
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 1,904,895	$ 1,092,320	$ 3,467,712	$ 3,815,523
Revenue from external customers by country, percentage	18%	8%	13%	12%
Australia
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 1,446,044	$ 2,569,026	$ 3,452,241	$ 5,154,858
Revenue from external customers by country, percentage	14%	20%	13%	16%
South Africa
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 309,089	$ 747,741	$ 2,241,422	$ 1,064,006
Revenue from external customers by country, percentage	3%	6%	8%	3%
Libya
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 682,200	$ (2,439)	$ 1,755,000	$ 2,995,608
Revenue from external customers by country, percentage	6%	0%	7%	9%
Sudan
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 0	$ 1,506,819	$ 1,421,527	$ 2,303,702
Revenue from external customers by country, percentage	0%	12%	5%	7%
Pakistan
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 371,868	$ 531,472	$ 955,000	$ 1,353,091
Revenue from external customers by country, percentage	3%	4%	3%	4%
Egypt
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 348,000	$ 588,600	$ 348,000	$ 595,180
Revenue from external customers by country, percentage	3%	4%	1%	2%
Uganda
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 289,935	$ 0	$ 329,935	$ 0
Revenue from external customers by country, percentage	3%	0%	1%	0%
Other
Disaggregation of Revenue [Line Items]
Revenues from external customers	$ 17,285	$ 1,283,450	$ 450,645	$ 3,466,215
Revenue from external customers by country, percentage	0%	10%	2%	11%

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]
Intangible asset			$ 29,732,859	$ 34,095,827	$ 34,095,827
Other Additions and Disposals/ Transfer			0		(1,885,907)
Intangible amortization expense	$ (539,830)	$ (581,212)	(1,085,057)	(1,171,208)	(2,266,609)
Intangible currency translation adjustment			118,686		(210,452)
Intangible asset	28,766,488		28,766,488		29,732,859
Trade Name
Finite Lived Intangible Assets [Line Items]
Intangible asset			880,933	1,084,791	1,084,791
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(92,641)		(196,627)
Intangible currency translation adjustment			2,642		(7,231)
Intangible asset	790,934		790,934		880,933
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible asset			4,968,675	5,499,815	5,499,815
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(171,967)		(353,000)
Intangible currency translation adjustment			116,044		(178,140)
Intangible asset	4,912,752		4,912,752		4,968,675
GI Customer list
Finite Lived Intangible Assets [Line Items]
Intangible asset			35,819	42,983	42,983
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(3,582)		(7,164)
Intangible currency translation adjustment			0		0
Intangible asset	32,237		32,237		35,819
Supply Agreement
Finite Lived Intangible Assets [Line Items]
Intangible asset			699,608	775,241	775,241
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(37,817)		(75,633)
Intangible currency translation adjustment			0		0
Intangible asset	661,791		661,791		699,608
Grower Relationships
Finite Lived Intangible Assets [Line Items]
Intangible asset			1,226,175	1,331,581	1,331,581
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(52,703)		(105,406)
Intangible currency translation adjustment			0		0
Intangible asset	1,173,472		1,173,472		1,226,175
Intellectual Property
Finite Lived Intangible Assets [Line Items]
Intangible asset			21,650,534	23,035,925	23,035,925
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(692,458)		(1,385,391)
Intangible currency translation adjustment			0		0
Intangible asset	20,958,076		20,958,076		21,650,534
License agreement
Finite Lived Intangible Assets [Line Items]
Intangible asset			0	1,986,598	1,986,598
Other Additions and Disposals/ Transfer					(1,885,907)
Intangible amortization expense					(75,610)
Intangible currency translation adjustment					(25,081)
Intangible asset					0
Internal use software
Finite Lived Intangible Assets [Line Items]
Intangible asset			271,115	$ 338,893	338,893
Other Additions and Disposals/ Transfer			0		0
Intangible amortization expense			(33,889)		(67,778)
Intangible currency translation adjustment			0		0
Intangible asset	$ 237,226		$ 237,226		$ 271,115

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 539,830	$ 581,212	$ 1,085,057	$ 1,171,208	$ 2,266,609

Intangible Assets - Intangible

Intangible Assets - Intangible Assets (Future Amortization) (Details)	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 1,522,334
2025	2,120,172
2026	1,980,015
2027	1,929,131
2028	1,871,840
Thereafter	$ 19,342,996

Property, Plant and Equipment -

Property, Plant and Equipment - Components of Property, Plant and Equipment (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 19,265,235	$ 18,299,941
Less: accumulated depreciation	(8,914,348)	(8,217,773)
Property, plant and equipment, net	10,350,887	10,082,168
Land and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	949,088	939,089
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	3,377,702	3,356,755
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	12,686,592	12,667,858
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	778,632	605,891
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	552,810	552,810
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 920,411	$ 177,538

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 393,221	$ 546,743	$ 797,547	$ 1,153,491

Investments - Additional Inform

Investments - Additional Information (Details) - USD ($)			6 Months Ended
	Feb. 06, 2023	Dec. 23, 2022	Dec. 31, 2023	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Capital contributions to partnerships			$ 88,543
Shell | Maximum
Schedule of Equity Method Investments [Line Items]
Additional proceeds to be received from sale of businesses in one year	$ 6,000,000
Vision Bioenergy
Schedule of Equity Method Investments [Line Items]
Ownership interest			34%	34%
Vision Bioenergy | Shell
Schedule of Equity Method Investments [Line Items]
Additional proceeds to be received from sale of businesses in one year			$ 6,000,000
Vision Bioenergy | Shell | Notes Receivable, Net
Schedule of Equity Method Investments [Line Items]
Note receivable due from Shell			$ 6,000,000
Vision Bioenergy | Shell | Maximum
Schedule of Equity Method Investments [Line Items]
Additional proceeds to be received from sale of businesses in one year	6,000,000
Possible reduction in proceeds to be received from sale of businesses in one year	$ 4,500,000
Trigall Australia Pty Ltd
Schedule of Equity Method Investments [Line Items]
Ownership interest			20%	20%
Additional proceeds to be received from sale of businesses in one year		$ 1,000,000
Capital contributions to partnerships			$ 100,000
Additional capital contributions to be made in next two years			$ 300,000

Investments - Summary of Financ

Investments - Summary of Financial Information of Unaudited Balance Sheets (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Cash	$ 1,114,370		$ 3,398,793
Intangible assets	28,766,488		29,732,859			$ 34,095,827
Other assets	3,051,182		2,066,081
TOTAL ASSETS	143,673,509		151,989,828
Current liabilities	74,442,766		71,290,883
Equity	56,786,138	$ 62,828,906	68,823,433	$ 42,051,933	$ 46,659,486	$ 51,408,669
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	143,673,509		151,989,828
Vision Bioenergy
Schedule of Equity Method Investments [Line Items]
Cash	2,410,607		8,973,896
Other current assets	2,654,196		747,090
Fixed assets	16,952,960		15,051,799
Intangible assets	17,769,680		18,575,108
Goodwill	11,615,424		11,870,376
Other assets	214,094		255,899
TOTAL ASSETS	51,616,961		55,474,168
Current liabilities	1,927,041		1,381,493
Long-term liabilities	140,551		176,203
Equity	49,549,369		53,916,472
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	$ 51,616,961		$ 55,474,168

Investments - Summary of Fina_2

Investments - Summary of Financial Information of Unaudited Income Statement (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Revenue	$ 10,864,809	$ 12,937,802	$ 27,297,275	$ 32,803,667
Gross profit (loss)	3,289,124	2,749,291	8,300,438	7,253,802
Loss from operations	(4,605,731)	(6,249,547)	(7,503,576)	(9,649,447)
Net loss	(6,468,852)	$ (5,986,005)	(12,418,481)	$ (10,494,946)
Vision Bioenergy
Schedule of Equity Method Investments [Line Items]
Revenue	1,074,934		1,228,924
Gross profit (loss)	619,646		(327,005)
Loss from operations	(1,794,747)		(4,624,553)
Net loss	$ (1,750,017)		$ (4,509,196)

Investments - Schedule of Carry

Investments - Schedule of Carrying Amount of The Company's Equity Method Investments (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Total equity method investments, Carrying Amount	$ 21,624,643	$ 23,059,705
Vision Bioenergy
Schedule of Equity Method Investments [Line Items]
Total equity method investments, Carrying Amount	$ 20,953,474	$ 22,307,486
Economic Interest	34%	34%
Trigall Australia
Schedule of Equity Method Investments [Line Items]
Total equity method investments, Carrying Amount	$ 671,169	$ 752,219
Economic Interest	20%	20%

Debt - Schedule of Total Debt O

Debt - Schedule of Total Debt Outstanding (Details) - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current portion of working capital lines of credit
Total current portion of working capital lines of credit, net	$ 43,597,213	$ 44,900,779
Long-term portion of working capital lines of credit, less current portion
Total working capital lines of credit, net	43,597,213	44,900,779
Current portion of long-term debt
Finance leases, Current	$ 455,647	$ 383,403
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total current portion, net	Total current portion, net
Debt issuance costs,Current	$ (106,819)	$ (97,221)
Total current portion, net	4,445,442	3,808,761
Long-term debt, less current portion
Finance leases, Noncurrent	$ 496,894	$ 304,761
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, net, less current portion	Long-term debt, net, less current portion
Debt issuance costs, Noncurrent	$ (156,435)	$ (191,245)
Total long-term portion, net	4,862,340	4,499,334
Total debt, net	9,307,782	8,308,095
CIBC
Current portion of working capital lines of credit
Total current portion of working capital lines of credit, net	15,815,090	19,335,427
National Australia Bank Limited
Current portion of working capital lines of credit
Total current portion of working capital lines of credit, net	28,007,685	25,938,839
CIBC and NAB
Current portion of long-term debt
Debt issuance costs,Current	(225,562)	(373,487)
Term Loan Long Term Current | National Australia Bank Limited
Current portion of long-term debt
Secured Debt, Current	2,383,850	2,318,050
Machinery & Equipment Loans Long Term Current | National Australia Bank Limited
Current portion of long-term debt
Secured Debt, Current	1,587,419	1,141,349
Machinery & Equipment Loans Long Term Current | Hyster
Current portion of long-term debt
Secured Debt, Current	22,349	11,902
Long-term debt, less current portion
Secured Long-term Debt, Noncurrent		15,715
AgAmerica RE Long
Long-term debt, less current portion
Secured Long-term Debt, Noncurrent	4,300,000	4,300,000
Vehicle Loans | Ford Credit
Current portion of long-term debt
Secured Debt, Current	102,996	51,278
Long-term debt, less current portion
Secured Long-term Debt, Noncurrent	$ 221,881	$ 70,103

Debt - CIBC Credit Facility - A

Debt - CIBC Credit Facility - Additional Information (Details) - USD ($)				6 Months Ended
	Sep. 25, 2023	Mar. 22, 2023	Dec. 26, 2019	Dec. 31, 2023
Line Of Credit Facility [Line Items]
Line of credit facility, remaining borrowing capacity				$ 2,400,000
CIBC
Line Of Credit Facility [Line Items]
Line of credit and security agreement date			Dec. 26, 2019
Line of credit facility, maximum borrowing capacity			$ 35,000,000	$ 25
Line of credit facility, borrowing capacity, description				Availability of funds under the Amended CIBC Credit Facility is subject to a borrowing base equal to (a) up to 85% of eligible domestic accounts receivable, plus (b) up to 90% of eligible foreign accounts receivable, plus (c) up to the lesser of (i) 65% of eligible inventory and (ii) 85% of the appraised net orderly liquidation value of eligible inventory
Debt instrument, debt default, Increase in interest rate per annum		2%
Line of credit facility, current borrowing capacity				$ 18,000,000
Line of credit facility, remaining borrowing capacity				$ 2,200,000
CIBC | Line of Credit
Line Of Credit Facility [Line Items]
Loan agreement fees	$ 75,000
Debt instrument, interest rate				10.50%
CIBC | Line of Credit | Federal Funds Rate
Line Of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
CIBC | Line of Credit | Prime Rate
Line Of Credit Facility [Line Items]
Increased applicable interest rate margin on advances	0.50%
Basis spread on variable rate	2.50%	2%
CIBC | Maximum
Line Of Credit Facility [Line Items]
Borrowing base in percentage based on eligible domestic accounts receivable		85%
Borrowing base in percentage based on eligible foreign accounts receivable		90%
Borrowing base in percentage based on eligible inventory		65%
Borrowing base in percentage based on liquidation value of the inventory, subject to lender reserves		85%
CIBC | February 1 to October 31 of Each Year
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 25,000,000
CIBC | November 1 to January 31 of Each Year
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 18,000,000

Debt - NAB Facilities - Additio

Debt - NAB Facilities - Additional Information (Details)			1 Months Ended	6 Months Ended
	Nov. 17, 2023 USD ($)	Oct. 25, 2022 USD ($)	May 31, 2023 AUD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2023 AUD ($)	Nov. 17, 2023 AUD ($)	Jun. 30, 2023 USD ($)	Oct. 25, 2022 AUD ($)
Line Of Credit Facility [Line Items]
Facility outstanding amount				$ 43,597,213				$ 44,900,779
Line of credit facility, remaining borrowing capacity				$ 2,400,000
Term Loan
Line Of Credit Facility [Line Items]
Line of credit facility interest accrued				8.36%		8.36%
Facility outstanding amount				$ 2,700,000		$ 4,000,000
Line of credit facility, Principal payments			$ 500,000
Line of credit facility, termination date				Mar. 31, 2026	Mar. 31, 2026
Line of credit facility, floating interest rate during period				2.60%	2.60%
Line of credit facility, interest rate description				Monthly interest amounts outstanding under the Term Loan are payable in arrears at a floating rate quoted by NAB for the applicable pricing period, plus 2.6%.	Monthly interest amounts outstanding under the Term Loan are payable in arrears at a floating rate quoted by NAB for the applicable pricing period, plus 2.6%.
Master Asset Finance Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 0		3,000,000
Facility outstanding amount				$ 1,000,000		1,500,000
Debt instrument maturity year				2029	2029
Line of credit facility, remaining borrowing capacity				$ 200,000		300,000
Net due from related entities covenant maximum				$ 18,500,000
Master Asset Finance Facility | Minimum
Line Of Credit Facility [Line Items]
Interest rate				2.86%	2.86%
Master Asset Finance Facility | Maximum
Line Of Credit Facility [Line Items]
Interest rate				6.82%	6.82%
National Australia Bank Limited
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 10,200,000		15,000,000
National Australia Bank Limited | Borrowing Base Line
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 24,500,000	$ 27,200,000					$ 36,000,000		$ 40,000,000
Line of credit facility, termination date	Mar. 31, 2025
National Australia Bank Limited | Overdraft Credit
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 4,100,000	$ 1,400,000					$ 6,000,000		$ 2,000,000
Line of credit facility, termination date	Mar. 31, 2024
National Australia Bank Limited | Line of Credit
Line Of Credit Facility [Line Items]
Net due from related entities covenant maximum				18,500,000
National Australia Bank Ltd Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				33,400,000		$ 49,000,000
Increase in line of credit facility				$ 400,000	$ 600,000
Interest rate	3%	1.65%
National Australia Bank Ltd Facility | Borrowing Base Line
Line Of Credit Facility [Line Items]
Line of credit facility interest accrued				7.36%		7.36%
National Australia Bank Ltd Facility | Overdraft Facility
Line Of Credit Facility [Line Items]
Line of credit facility interest accrued				9.72%		9.72%
National Australia Bank Ltd Facility | Seasonal Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, current borrowing capacity				$ 28,600,000		$ 42,000,000

Debt - AgAmerica Note - Additio

Debt - AgAmerica Note - Additional Information (Details) - Secured Real Estate Note - AgAmerica $ in Millions	Jun. 20, 2023 USD ($) Acres	Dec. 31, 2023
Line of Credit Facility [Line Items]
Debt face amount | $	$ 4.3
Number of acres of land held as security | Acres	31
Line of credit facility interest accrued		10.23%
SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.85%

Debt - MFP Loan Agreement - Add

Debt - MFP Loan Agreement - Additional Information (Details) - USD ($) $ in Millions	Mar. 22, 2023	Sep. 22, 2022	Oct. 28, 2022
Standby Letters of Credit
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Sep. 30, 2024
Line of credit facility, maximum borrowing capacity	$ 13
Line of credit facility, unused capacity commitment fee percentage	4.25%	3.50%
MFP Loan Agreement
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Mar. 30, 2025
Line of credit facility, maximum borrowing capacity			$ 12
Debt instrument, percentage of interest payable in cash		50%
Debt instrument, percentage of interest paid in kind		50%
MFP Loan Agreement | Maximum
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 13
MFP Loan Agreement | Reference Rate Floor
Line of Credit Facility [Line Items]
Debt instrument, interest rate		1.25%
MFP Loan Agreement | SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate		9.25%

Debt - Schedule of Annual Matur

Debt - Schedule of Annual Maturities of Long-Term Debt Excluding Finance Lease Liabilites (Details)	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Remainder of 2024	$ 4,045,117
2025	77,987
2026	4,377,987
2027	77,987
2028	39,418
Total	$ 8,618,496

Foreign Currency Forward Cont_2

Foreign Currency Forward Contracts and Options - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Foreign Currency Forward Contracts and Options [Line Items]
Foreign exchange contract liability	$ 203,440		$ 203,440		$ 849,033
Gains (losses) on foreign exchange contracts	(244,298)	$ (176,624)	(616,486)	$ (367,539)
Foreign Currency Forward Contracts
Foreign Currency Forward Contracts and Options [Line Items]
Foreign currency forward contracts, notional value	5,496,155		5,496,155
Gains (losses) on foreign exchange contracts	$ 712,797	$ 484,518	$ 654,529	$ 19,466
Foreign Currency Forward Contracts | Minimum
Foreign Currency Forward Contracts and Options [Line Items]
Foreign currency maturity term			Jan. 31, 2024
Foreign Currency Forward Contracts | Maximum
Foreign Currency Forward Contracts and Options [Line Items]
Foreign currency maturity term			Apr. 30, 2024

Equity - Additional Information

Equity - Additional Information (Details) - USD ($)					3 Months Ended	6 Months Ended
	Mar. 22, 2023	Dec. 22, 2022	Oct. 28, 2022	Sep. 22, 2022	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	May 17, 2022	Sep. 23, 2020
MFP Loan Agreement
Class Of Stock [Line Items]
Warrants to purchase of common stock					2,633,400	2,633,400
Warrant expiration term	5 years	5 years	5 years	5 years
Interest expense amortized					$ 212,873	$ 425,746
MFP Loan Agreement | Minimum
Class Of Stock [Line Items]
Warrant exercise price per share					$ 1.6	$ 1.6
MFP Loan Agreement | Maximum
Class Of Stock [Line Items]
Warrant exercise price per share					$ 2.15	$ 2.15
ATM Agreement | B. Riley Securities, Inc
Class Of Stock [Line Items]
Maximum aggregate offering price of common stock by agent								$ 24,600,000	$ 17,100,000
Number of common stock shares issued during the period						0	0

Equity-Based Compensation - Sch

Equity-Based Compensation - Schedule of Weighted Average Assumptions (Details) - Stock Options	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free rate, minimum	4.45%	2.87%
Risk free rate, maximum	4.78%	4.41%
Volatility, minimum	70.30%	64.70%
Volatility, maximum	70.60%	66.10%
Forfeiture rate	10.60%	8.70%

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted			323,649
Exercise price, lower range limit			$ 0.66
Exercise price, upper range Limit			$ 0.77
Stock-based compensation	$ 283,327	$ 305,894	$ 695,147	$ 762,006
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, term			10 years
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation, total compensation cost not yet recognized, period for recognition			1 year 3 months 29 days
Number of restricted stock units issued			907,073	431,707	534,628
Fair value of awards granted			$ 528,858	$ 443,375
Unrecognized stock compensation expense related to restricted stock grants	$ 588,711		$ 588,711
Maximum | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Maximum | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Minimum | Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			1 year
Minimum | Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			1 year
2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for issuance of grants	730,490		730,490
2009 and 2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted, weighted average grant date fair value	$ 0.43		$ 0.43
Unrecognized stock compensation expense, net of estimated forfeitures, related to options	$ 561,804		$ 561,804
Stock-based compensation, total compensation cost not yet recognized, period for recognition			1 year 6 months 7 days

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary Of Stock Option Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Options, Outstanding as of beginning of period	5,076,968	4,637,100
Options, Granted	323,649	1,389,675
Options, Exercised		(2,100)
Options, Canceled/forfeited/expired	(281,601)	(947,707)
Options, Outstanding as of end of period	5,119,016	5,076,968	4,637,100
Options, vested and exercisable at end of period	3,849,028
Options, vested and expected to vest	5,107,873
Weighted-Average Exercise Prices, Outstanding as of beginning of period	$ 2.23	$ 2.64
Weighted-Average Exercise Prices, Granted	0.76	1.25
Weighted-Average Exercise Prices, Exercised		0.95
Weighted-Average Exercise Prices, Canceled/forfeited/expired	2.52	2.84
Weighted-Average Exercise Prices, Outstanding as of end of period	2.12	$ 2.23	$ 2.64
Weighted-Average Exercise Prices, vested and exercisable	2.37
Weighted-Average Exercise Price, vested and expected to vest	$ 2.12
Options Outstanding, Weighted-Average Remaining Contractual Term (in years)	7 years 2 months 12 days	7 years 1 month 6 days	6 years 7 months 6 days
Weighted-Average Remaining Contractual Term (in years), vested and exercisable	6 years 7 months 6 days
Weighted-Average Remaining Contractual Term (in years), vested and expected to vest	7 years 2 months 12 days
Options, Outstanding, Aggregate Intrinsic Value	$ 1,977	$ 292,079
Options, vested and expected to vest, Aggregate Intrinsic Value	$ 1,963

Equity-Based Compensation - S_2

Equity-Based Compensation - Summary of Activity Related to Non-Vested Restricted Stock Units (Details) - Restricted Stock Units - $ / shares	6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Nonvested Restricted Stock Units Outstanding, Beginning	440,148	267,919	267,919
Number of Nonvested Restricted Stock Units, Granted	907,073	431,707	534,628
Number of Nonvested Restricted Stock Units, Vested	(346,122)		(353,649)
Number of Nonvested Restricted Stock Units, Forfeited			(8,750)
Number of Nonvested Restricted Stock Units Outstanding, Ending	1,001,099		440,148	267,919
Weighted-Average Grant Date Fair Value, Beginning	$ 1.17	$ 2.66	$ 2.66
Weighted-Average Grant Date Fair Value, Granted	0.58		1.14
Weighted-Average Grant Date Fair Value, Vested	1.2		2.22
Weighted-Average Grant Date Fair Value, Forfeited			2.5
Weighted-Average Grant Date Fair Value, Ending	$ 0.63		$ 1.17	$ 2.66
Weighted-Average Remaining Contractual Life (Years)	1 year 3 months 18 days		1 year 4 months 24 days	1 year 2 months 12 days
Weighted-Average Remaining Contractual Life (Years), Granted	1 year 2 months 12 days		1 year 6 months

Series B Convertible Preferre_3

Series B Convertible Preferred Stock - Additional Information (Details)	6 Months Ended
	Dec. 31, 2023 shares
MEZZANINE EQUITY
Temporary Equity [Line Items]
Issuances and conversion of preferred stock to common stock	0

Series B Convertible Preferre_4

Series B Convertible Preferred Stock - Summary of Changes to Series B Convertible Preferred Stock (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Temporary Equity Disclosure [Abstract]
Mezzanine Equity Beginning Balance, amount			$ 5,274,148	$ 4,804,819	$ 4,804,819
Dividends accrued	$ 98,593	$ 88,224	192,800	176,447	365,979
Accretion of discount for warrants			51,676	$ 51,676	103,350
Mezzanine Equity Ending Balance, amount	$ 5,518,624		$ 5,518,624		$ 5,274,148

Non-Cash Activities for State_3

Non-Cash Activities for Statements of Cash Flows - Schedule of Condensed Consolidated Statements of Cash Flows for Non-Cash Activities (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2023
Non-cash investing activities:
ROU assets financed by lease liabilities			$ 1,233,300	$ 381,576
Consideration received from Shell for equity interest in Vision Bioenergy:
Contribution of intangible assets to Trigall in exchange for equity investment and promissory note			0	1,750,000
Non-cash financing activities:
Warrants issued for financial commitment asset			0	802,901
Dividends accrued for participating securities	$ 98,593	$ 88,224	192,800	176,447	$ 365,979
Accretion of discount for series B preferred stock warrants			$ 51,676	$ 51,676	$ 103,350