2023 Q2 Form 10-K Financial Statement

#000149315223014773 Filed on May 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q4 2022
Revenue $1.476M $1.196M $2.709M
YoY Change 250.7% 70.3% -11.66%
Cost Of Revenue $910.0K $1.015M $2.843M
YoY Change 59.06% 51.93% 122.1%
Gross Profit $560.0K $181.1K -$134.6K
YoY Change -470.35% 428.77% -107.53%
Gross Profit Margin 37.94% 15.14% -4.97%
Selling, General & Admin $582.0K $705.2K $2.183M
YoY Change 22.6% 7.12% 20.38%
% of Gross Profit 103.93% 389.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $88.51K $102.7K $185.6K
YoY Change 220.92% 38.34% 93.08%
% of Gross Profit 15.81% 56.7%
Operating Expenses $1.581M $705.2K $5.278M
YoY Change 36.26% 7.12% 191.11%
Operating Profit -$104.8K -$524.2K -$2.569M
YoY Change -85.83% -16.01% 9437.71%
Interest Expense $0.00 $1.240K $4.880K
YoY Change -100.0% 20.39% 18.73%
% of Operating Profit
Other Income/Expense, Net $12.13K $7.990K -$3.799M
YoY Change 6.0% -49.21% -12800.4%
Pretax Income -$92.64K -$514.9K -$6.368M
YoY Change -87.27% -15.22% -89918.73%
Income Tax $4.907K $450.00 $1.097K
% Of Pretax Income
Net Earnings -$97.55K -$515.4K -$6.369M
YoY Change -86.61% -12.58% 2283.34%
Net Earnings / Revenue -6.61% -43.08% -235.15%
Basic Earnings Per Share $0.00 -$0.26
Diluted Earnings Per Share $0.00 -$0.02 -$0.25
COMMON SHARES
Basic Shares Outstanding 25.00M shares 50.00M shares 25.00M shares
Diluted Shares Outstanding 25.00M shares 25.00M shares

Balance Sheet

Concept 2023 Q2 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $320.0K $510.1K $510.1K
YoY Change -96.06% -94.04% -94.04%
Cash & Equivalents $316.9K $510.1K $510.1K
Short-Term Investments
Other Short-Term Assets $260.0K $213.7K $213.7K
YoY Change 58.92% 237.71% 237.71%
Inventory $625.8K $499.3K $667.8K
Prepaid Expenses
Receivables $345.5K $562.6K $562.6K
Other Receivables $134.3K $83.10K $21.83K
Total Short-Term Assets $1.743M $1.976M $1.976M
YoY Change -80.23% -78.53% -78.53%
LONG-TERM ASSETS
Property, Plant & Equipment $1.701M $1.972M $2.971M
YoY Change 666.5% 579.58% 26.97%
Goodwill
YoY Change
Intangibles $3.241K $1.269K
YoY Change 445.62% -34.59%
Long-Term Investments $80.00K $86.99K $86.99K
YoY Change -10.69% -7.6% -7.6%
Other Assets $10.00K $15.56K $15.56K
YoY Change -41.0% -17.23% -17.23%
Total Long-Term Assets $2.484M $3.075M $3.075M
YoY Change 40.04% 25.26% 25.26%
TOTAL ASSETS
Total Short-Term Assets $1.743M $1.976M $1.976M
Total Long-Term Assets $2.484M $3.075M $3.075M
Total Assets $4.227M $5.051M $5.051M
YoY Change -60.08% -56.68% -56.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $470.8K $398.5K $398.5K
YoY Change -0.44% -1.89% -1.89%
Accrued Expenses $2.700M $3.156M $3.156M
YoY Change 49.83% 102.44% 102.44%
Deferred Revenue
YoY Change
Short-Term Debt $80.00K $86.99K $86.99K
YoY Change -10.69% -7.6% -7.6%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.637M $5.322M $5.322M
YoY Change -11.05% 19.55% 19.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $210.0K $194.7K $194.7K
YoY Change -65.84% -82.9% -82.9%
Total Long-Term Liabilities $210.0K $194.7K $194.7K
YoY Change -65.84% -82.9% -82.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.637M $5.322M $5.322M
Total Long-Term Liabilities $210.0K $194.7K $194.7K
Total Liabilities $4.843M $5.517M $5.517M
YoY Change -16.9% -1.32% -1.32%
SHAREHOLDERS EQUITY
Retained Earnings -$15.76M -$15.25M
YoY Change 52.08% 71.72%
Common Stock $250.00 $250.00
YoY Change -50.0% -50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$615.9K -$466.2K -$466.2K
YoY Change
Total Liabilities & Shareholders Equity $4.227M $5.051M $5.051M
YoY Change -60.08% -56.68% -56.68%

Cashflow Statement

Concept 2023 Q2 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$97.55K -$515.4K -$6.369M
YoY Change -86.61% -12.58% 2283.34%
Depreciation, Depletion And Amortization $88.51K $102.7K $185.6K
YoY Change 220.92% 38.34% 93.08%
Cash From Operating Activities $120.0K -$212.0K -$1.625M
YoY Change -144.78% -64.89% 2710.67%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $104.2K $156.7K
YoY Change -7878.36% -11795.75%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$3.812M -$3.366M
YoY Change 19299.64% -24.03%
Cash From Investing Activities -$10.00K -$3.916M -$3.522M
YoY Change 18557.79% -20.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -260.0K -863.7K -$2.390M
YoY Change -194.76% -114.85% -145.76%
NET CHANGE
Cash From Operating Activities 120.0K -212.0K -$1.625M
Cash From Investing Activities -10.00K -3.916M -$3.522M
Cash From Financing Activities -260.0K -863.7K -$2.390M
Net Change In Cash -150.0K -4.992M -$7.981M
YoY Change -2440.09% -196.19% -1189.48%
FREE CASH FLOW
Cash From Operating Activities $120.0K -$212.0K -$1.625M
Capital Expenditures $10.00K $104.2K $156.7K
Free Cash Flow $110.0K -$316.3K -$1.781M
YoY Change -47.51% 3054.96%

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StockholdersEquity
-466188 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-466188 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-6369245 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-267236 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
185565 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
96106 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
45953 usd
CY2022 AIXN Provision For Inventory Reserve
ProvisionForInventoryReserve
-54899 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
837425 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
411607 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
371540 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
371540 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1858 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-18570 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3823770 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
425961 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7731 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
42 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
-13618 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-109439 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-94992 usd
CY2022 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
103016 usd
CY2021 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
1372 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-150872 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-69738 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-71153 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-27341 usd
CY2022 AIXN Increase Decrease In Accounts Payable Related Party
IncreaseDecreaseInAccountsPayableRelatedParty
140608 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-24401 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-122897 usd
CY2022 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-137711 usd
CY2021 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-57467 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
710865 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
473508 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
289868 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-142027 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1624565 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-57804 usd
CY2022 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
446381 usd
CY2021 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
87448 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
156723 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1341 usd
CY2022 AIXN Prepayment For Acquisition
PrepaymentForAcquisition
3812027 usd
CY2021 AIXN Prepayment For Acquisition
PrepaymentForAcquisition
4517620 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3522369 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4431513 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-2389593 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
1204442 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
368648 usd
CY2021 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
4386070 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2389593 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5221864 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-444426 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
191617 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7980953 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
924164 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8600853 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7676689 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
619900 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8600853 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
71163 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
404276 usd
CY2021 AIXN Capital Contribution From Forgiveness Of Related Party Loan
CapitalContributionFromForgivenessOfRelatedPartyLoan
2446238 usd
CY2023Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1 for 2 reverse stock split
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24999842 shares
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-2569459 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1624565 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-15249858 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8556642 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
510128 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_z6HBIvPztax9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_869_zONAwcZxcRN8">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In preparing consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the dates of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Significant estimates, required by management, include the recoverability of long-lived assets, allowance for doubtful accounts, and the reserve for obsolete and slow-moving inventories. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_849_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zC5DLC6FbMx7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_86B_zxvMm5jqrdvf">Reclassification</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Certain prior period amounts have been reclassified to conform to the current period presentation and had no effect on previously reported consolidated net income (loss) or accumulated deficit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
272550 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
213787 usd
CY2022 AIXN Schedule Of Accounts Receivable Allowance For Doubtful Accounts
ScheduleOfAccountsReceivableAllowanceForDoubtfulAccounts
<p id="xdx_89C_ecustom--ScheduleOfAccountsReceivableAllowanceForDoubtfulAccounts_zI2sNrEMtAA1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The following table summarizes the activity related to the Company’s Accounts Receivable allowance for doubtful accounts for the years ended December 31, 2022 and 2021:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B6_zdYv6RUDxGE4" style="display: none">SCHEDULE OF ACCOUNTS RECEIVABLE ALLOWANCE FOR DOUBTFUL ACCOUNTS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"> </td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td> <td id="xdx_497_20220101__20221231_zpbhm8jKqZxb" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td> <td id="xdx_49C_20210101__20211231_ztWFdMWZc0Sa" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"> </td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Years Ended December 31,</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_zU5xQNllSY08" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Beginning balance</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">213,787</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">148,520</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_403_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_zZUme9K5qEQj" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Additions<sup id="xdx_F4B_zLUI9z9qWCG7">*</sup></span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,164</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">124,242</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_400_ecustom--AllowanceForDoubtfulAccountsReceivableAdditions_z0KpzqEpS3i2" style="display: none; font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">Additions</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">196,164</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">124,242</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_40C_eus-gaap--ProvisionForDoubtfulAccounts_zhD19GZZ11sb" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Provisions for bad debt</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">45,953</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0597">-</span></span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_iN_di_zVsBLYWVdj6k" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">Recoveries/Write offs</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(165,227</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(63,076</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_iN_di_zyO8NmGCwEQi" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Effect of translation</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(18,127</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">4,101</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_zTXoaKWjmZzc" style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif">Ending balance</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">272,550</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">213,787</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F01_ze8qYpWBD7F8" style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">*</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F1A_zSemyLKPdDE" style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">Due to the acquisition of subsidiaries during the years ended December 31, 2022 and 2021</span></td> </tr></table>
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
213787 usd
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
148520 usd
CY2022 AIXN Allowance For Doubtful Accounts Receivable Additions
AllowanceForDoubtfulAccountsReceivableAdditions
196164 usd
CY2021 AIXN Allowance For Doubtful Accounts Receivable Additions
AllowanceForDoubtfulAccountsReceivableAdditions
124242 usd
CY2022 AIXN Allowance For Doubtful Accounts Receivable Additions
AllowanceForDoubtfulAccountsReceivableAdditions
196164 usd
CY2021 AIXN Allowance For Doubtful Accounts Receivable Additions
AllowanceForDoubtfulAccountsReceivableAdditions
124242 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
45953 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
165227 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
63076 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
18127 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-4101 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
272550 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
213787 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
73821 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2022Q4 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.05 pure
CY2021Q4 us-gaap Assets
Assets
11660346 usd
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3823770 usd
CY2022 AIXN Advertisement Revenue
AdvertisementRevenue
0 usd
CY2021 AIXN Advertisement Revenue
AdvertisementRevenue
1944811 usd
CY2022 AIXN Vat Of Gross Sales Price Percentage
VatOfGrossSalesPricePercentage
0.06 pure
CY2022 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p id="xdx_844_eus-gaap--RevenueRecognitionDeferredRevenue_zAbdTM2UZnlj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_86F_zd0BQGMBaD52">Unearned Revenue</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s unearned revenue primarily consists of advances received from customers for the rental of hotel rooms prior to the delivery of service. The room rental services are delivered (normally within one year) based upon contract terms and customer demand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_z1MH1dqSccc9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_865_zkBPc3b0Ej39">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The operations of the Company are in the PRC. Accordingly, the Company’s business, financial condition, and results of operations may be influenced by the political, economic, and legal environments in the PRC, and by the general state of the PRC economy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company has cash on hand and demand deposits in accounts maintained with state-owned banks within the PRC. Cash in state-owned banks is covered by insurance up to RMB <span id="xdx_900_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uRMB_c20221231_z70Ln0F7GXhe">500,000</span> ($<span id="xdx_903_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uUSD_c20221231_zXhQOR6S1RP3" title="Cash FDIC insured amount">72,500</span>) per bank. The Company has not experienced any losses in such accounts and believes they are not exposed to any risks on its cash in these bank accounts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the year ended December 31, 2022, the Company had no customer that accounted for over 10% of its total revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89A_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zWIefEO4ZgOg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the year ended December 31, 2021, the Company had two major customers that accounted for over 10% of its total revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_z6bw3IZDxmBb" style="display: none">SCHEDULE OF CONCENTRATION OF RISK BY RISK FACTORS</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Customer</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Net sales for the year ended<br/> December 31, 2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of total revenue</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%"><span id="xdx_F46_zyhcihvY146d" style="font-family: Times New Roman, Times, Serif">A(1)</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_fKDEp_zcWheHaAfxD1" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Total revenue"><span style="font-family: Times New Roman, Times, Serif">1,286,792</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerAMember_fKDEp_zrgxP9g6YLyk">42</span></span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif">B</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_980_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_zVYwabVugDs5" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Total revenue"><span style="font-family: Times New Roman, Times, Serif">658,018</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerBMember_fKg_____zcwm9XMHASpl">21</span></span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the year ended December 31, 2022, the Company had three major suppliers that accounted for over 10% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplier</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Net purchases for the<br/> year ended<br/> December 31, 2022</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of total purchase</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%"><span style="font-family: Times New Roman, Times, Serif">C</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_982_ecustom--PurchaseCost_pp0p0_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_fKDIp_zyMKmi9tXuj7" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Total purchases"><span style="font-family: Times New Roman, Times, Serif">189,150</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_982_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_fKDIp_zlMu7oz3yEf7" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">14</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font-family: Times New Roman, Times, Serif"><span id="xdx_F49_z2zc8VtBTeM1" style="font-family: Times New Roman, Times, Serif">D (2)</span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98A_ecustom--PurchaseCost_pp0p0_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_fKDIp_zM33uU16Aphe" style="font-family: Times New Roman, Times, Serif; text-align: right" title="Total purchases"><span style="font-family: Times New Roman, Times, Serif">149,806</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierDMember_fKDIp_zeynUGnjZ2J2" style="font-family: Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11</span></td><td style="font-family: Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the year ended December 31, 2021, the Company had one major supplier accounted for over 10% of its total purchase.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif">Supplier</span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">Net purchases for the<br/> year ended<br/> December 31, 2021</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif">% of total purchase</span></td><td style="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="font-family: Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-family: Times New Roman, Times, Serif; width: 60%"><span style="font-family: Times New Roman, Times, Serif">E</span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td id="xdx_98D_ecustom--PurchaseCost_pp0p0_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_fKDIp_zN9A51pSzghj" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right" title="Total purchases"><span style="font-family: Times New Roman, Times, Serif">233,187</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-family: Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td id="xdx_98C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierEMember_fKDIp_zxFL2kvhYPZa" style="font-family: Times New Roman, Times, Serif; width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">40</span></td><td style="font-family: Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F00_z4HI1aWmOEe6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F14_zmwxdxV4LLF5" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represented advertising revenues from this customer during the year ended December 31, 2021. The Company also purchased inventory from this customer in year ended December 31, 2021.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_F02_zBnm62uZB1P1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zbS4JRwTyYC" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company purchased inventory from this supplier, Runcansheng, in the year ended December 31, 2022. The Company acquired all of the outstanding equity of Runcangsheng on September 30, 2022 (see Note 17).</span></td></tr> </table> <p id="xdx_8A7_zi2ySIGSpBbc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2022 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
CY2021 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
CY2022 us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_800_eus-gaap--LossContingencyDisclosures_zulYVnVJdVLi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>16. <span id="xdx_826_zmd6304j1rW4">OPERATING CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environments and foreign currency exchange. The Company’s results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company’s sales, purchases and expenses are denominated in RMB and all of the Company’s assets and liabilities are also denominated in RMB. The RMB is not freely convertible into foreign currencies under the current law. In China, foreign exchange transactions are required by law to be transacted only by authorized financial institutions. Remittances in currencies other than RMB may require certain supporting documentation to affect the remittance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>Litigation</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company is, from time to time, involved in litigation incidental to the conduct of its business regarding merchandise sold, employment matters, and litigation regarding intellectual property rights.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In December 2020, Jian Yiao (the “Plaintiff”) filed a complaint against Chengdu Aixintang Pharmacy Co., Ltd. (“Aixintang Pharmacy”, or the “Defendant”) in Zhangjiagang People’s Court in Jiangsu Province. The complaint alleges that Jian Yiao is entitled to $<span id="xdx_905_eus-gaap--LongTermPurchaseCommitmentAmount_uUSD_c20201201__20201231__us-gaap--GuaranteeObligationsByNatureAxis__us-gaap--IndemnificationGuaranteeMember_zcJiw7KZaEa" title="Purchase commitment amount">392,305</span> (RMB <span id="xdx_90F_eus-gaap--LongTermPurchaseCommitmentAmount_uRMB_c20201201__20201231__us-gaap--GuaranteeObligationsByNatureAxis__us-gaap--IndemnificationGuaranteeMember_zAZhCBVvtLCb" title="Purchase commitment amount">2,500,000</span>) from Aixintang Pharmacy for not fulfilling the contractual obligation of a purchase agreement entered in March 2020 (the “Purchase Agreement”). Aixintang Pharmacy claimed that the Purchase Agreement was falsely entered by an employee through forged documents, and that Aixintang Pharmacy did not enter the Purchase Agreement. The Court determined that Aixintang Pharmacy breached the Purchase Agreement by not delivering the products ordered and ordered Aixintang Pharmacy to pay $<span id="xdx_90E_eus-gaap--LitigationSettlementExpense_uUSD_c20201201__20201231_zdNOLratDR4d" title="Litigation settlement expense">392,305</span> (RMB <span id="xdx_90A_eus-gaap--LitigationSettlementExpense_uRMB_c20201201__20201231_zyJyclTYd0Sg" title="Litigation settlement expense">2,500,000</span>) to the Plaintiff. In December 2020, Aixintang Pharmacy filed a motion in the Jiangsu Suzhou Intermediate People’s Court against the determination reached from the first trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In February 2021, the judge in the Jiangsu Suzhou Intermediate People’s Court denied the Defendant’s motion and upheld the judgment from the first trial. In March 2021, Aixintang Pharmacy filed another motion to the Jiangsu High People’s Court on the basis that the Purchase Agreement was forged. In February 2022, Aixintang Pharmacy filed an appeal in Jiangsu High People’s Court against the judgment reached by Jiangsu Suzhou Intermediate People’s Court in February 2021. To date, this legal proceeding remains pending.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">In November 2021, the Company and Mr. Quanzhong Lin agreed that Mr. Lin shall assume any losses arising from this legal proceeding. As such, the Company did not accrue contingent losses from this legal proceeding as of December 31, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">The Company believes that current pending litigation will not have a material adverse effect on its consolidated financial position, results of operations or cash flows. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
392305 usd
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
2500000

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