2023 Q4 Form 10-Q Financial Statement

#000149315223040930 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $792.1K $1.067M $672.8K
YoY Change -33.78% 58.58% -17.24%
Cost Of Revenue $900.6K $960.0K $619.7K
YoY Change -11.28% 54.91% 37.33%
Gross Profit -$108.5K $110.0K $53.08K
YoY Change -159.93% 107.23% -85.32%
Gross Profit Margin -13.7% 10.31% 7.89%
Selling, General & Admin $998.3K $710.5K $426.5K
YoY Change 41.56% 66.61% -6.31%
% of Gross Profit 645.95% 803.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.7K $114.3K $25.70K
YoY Change -1.91% 344.75% 132.79%
% of Gross Profit 103.91% 48.42%
Operating Expenses $998.3K $1.802M $1.207M
YoY Change 41.56% 49.35% 165.1%
Operating Profit -$1.107M -$735.3K -$533.9K
YoY Change 111.16% 37.71% 470.96%
Interest Expense $150.00 $0.00 $1.020K
YoY Change -87.9% -100.0% 70.0%
% of Operating Profit
Other Income/Expense, Net $95.10K $297.6K -$3.840M
YoY Change 1090.24% -107.75% -18472.87%
Pretax Income -$1.012M -$437.6K -$4.374M
YoY Change 96.45% -89.99% 5973.92%
Income Tax $13.64K $515.00 -$322.00
% Of Pretax Income
Net Earnings -$1.025M -$438.2K -$4.374M
YoY Change 98.92% -89.98% 2893.51%
Net Earnings / Revenue -129.43% -41.07% -650.06%
Basic Earnings Per Share -$0.02 -$0.09
Diluted Earnings Per Share -$0.04 -$0.02 -$87.47K
COMMON SHARES
Basic Shares Outstanding 25.00M shares 25.00M shares 50.00M shares
Diluted Shares Outstanding 25.00M shares 25.00M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $443.8K $410.0K $5.299M
YoY Change -13.01% -92.26% 60.67%
Cash & Equivalents $443.8K $412.7K $5.299M
Short-Term Investments
Other Short-Term Assets $173.0K $590.0K $295.1K
YoY Change -19.05% 99.94% -0.09%
Inventory $441.1K $643.6K $857.8K
Prepaid Expenses
Receivables $253.6K $250.6K $196.4K
Other Receivables $12.40K $30.00K $25.56K
Total Short-Term Assets $1.497M $2.065M $6.826M
YoY Change -24.22% -69.75% 64.1%
LONG-TERM ASSETS
Property, Plant & Equipment $1.680M $1.659M $1.911M
YoY Change -14.81% -13.18% -20.7%
Goodwill $3.824M
YoY Change
Intangibles $3.917K $2.840K $1.393K
YoY Change 208.67% 103.88%
Long-Term Investments $84.51K $80.00K $84.35K
YoY Change -2.85% -5.16% -9.42%
Other Assets $0.00 $10.00K $15.52K
YoY Change -100.0% -35.57%
Total Long-Term Assets $3.345M $2.215M $3.186M
YoY Change 8.78% -30.47% 27.16%
TOTAL ASSETS
Total Short-Term Assets $1.497M $2.065M $6.826M
Total Long-Term Assets $3.345M $2.215M $3.186M
Total Assets $4.842M $4.280M $10.01M
YoY Change -4.13% -57.25% 50.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $478.5K $600.0K $508.0K
YoY Change 20.07% 18.11% 18.58%
Accrued Expenses $2.927M $2.530M $6.616M
YoY Change -7.27% -61.76% 318.92%
Deferred Revenue
YoY Change
Short-Term Debt $84.51K $80.00K $84.35K
YoY Change -2.85% -5.16% -81.79%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.964M $5.067M $9.287M
YoY Change 12.06% -45.44% 178.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $789.5K $160.0K $382.2K
YoY Change 305.43% -58.13% -68.31%
Total Long-Term Liabilities $789.5K $160.0K $382.2K
YoY Change 305.43% -58.13% -68.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.964M $5.067M $9.287M
Total Long-Term Liabilities $789.5K $160.0K $382.2K
Total Liabilities $6.754M $5.225M $9.669M
YoY Change 22.42% -45.96% 112.74%
SHAREHOLDERS EQUITY
Retained Earnings -$17.22M -$16.20M -$14.73M
YoY Change 12.92% 9.91%
Common Stock $250.00 $250.00 $500.00
YoY Change 0.0% -50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.912M -$945.1K $342.1K
YoY Change
Total Liabilities & Shareholders Equity $4.842M $4.280M $10.01M
YoY Change -4.13% -57.25% 50.21%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.025M -$438.2K -$4.374M
YoY Change 98.92% -89.98% 2893.51%
Depreciation, Depletion And Amortization $100.7K $114.3K $25.70K
YoY Change -1.91% 344.75% 132.79%
Cash From Operating Activities -$1.172M $130.0K -$641.1K
YoY Change 452.9% -120.28% -703.23%
INVESTING ACTIVITIES
Capital Expenditures $79.52K $210.0K -$52.49K
YoY Change -23.71% -500.08%
Acquisitions
YoY Change
Other Investing Activities -$3.320K $0.00 $446.4K
YoY Change -99.91% -100.0% 428.57%
Cash From Investing Activities -$82.84K -$200.0K $393.9K
YoY Change -97.88% -150.77% 366.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.210M 170.0K -2.305M
YoY Change -240.14% -107.38% 1456.72%
NET CHANGE
Cash From Operating Activities -1.172M 130.0K -641.1K
Cash From Investing Activities -82.84K -200.0K 393.9K
Cash From Financing Activities 1.210M 170.0K -2.305M
Net Change In Cash -44.63K 100.0K -2.552M
YoY Change -99.11% -103.92% -6082.26%
FREE CASH FLOW
Cash From Operating Activities -$1.172M $130.0K -$641.1K
Capital Expenditures $79.52K $210.0K -$52.49K
Free Cash Flow -$1.252M -$80.00K -$588.6K
YoY Change 295.82% -86.41% -653.83%

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CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-139053 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
42473 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-152137 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-422070 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4512564 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1023013 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6005998 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.018
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.018
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.175
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.175
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.043
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.043
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.234
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.234
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24999842 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24999842 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24999842 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24999842 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24999842 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24999842 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24999842 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24999842 shares
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-466188 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2023Q1 AIXN Disposal Of Subsidiary
DisposalOfSubsidiary
120160 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-529784 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
24542 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-758385 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
145300 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-97546 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1845 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-615901 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-438156 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
16086 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
-945086 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
6069491 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-752081 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
31864 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
5442159 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-728269 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-44948 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
4761827 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
92885 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-4373511 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-139053 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
342148 usd
us-gaap Net Income Loss
NetIncomeLoss
-1065486 usd
us-gaap Net Income Loss
NetIncomeLoss
-5853861 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
308114 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
82921 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-10250 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
115495 usd
AIXN Inventory Impairment
InventoryImpairment
8558 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
618085 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
632496 usd
us-gaap Share Based Compensation
ShareBasedCompensation
278655 usd
us-gaap Share Based Compensation
ShareBasedCompensation
278655 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1481 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1419 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3823770 usd
AIXN Government Grant Income
GovernmentGrantIncome
284321 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
18596 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-100801 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
97872 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
186658 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
192791 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
347347 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-9444 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
12273 usd
us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-187009 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
500056 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
525979 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-136638 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
232910 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-219874 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1412550 usd
AIXN Cash Disposed At Disposal Of Subsidiary
CashDisposedAtDisposalOfSubsidiary
-3341 usd
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
446381 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
212607 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
52485 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2608 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-218556 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
393896 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-79072 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-1525860 usd
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
142200 usd
AIXN Proceeds From Government Grant
ProceedsFromGovernmentGrant
284321 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
347449 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1525860 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-30584 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-677533 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-121565 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3222047 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
498335 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
5378806 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4398 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
72495 usd
AIXN Accrual Of Unpaid Investment In Subsidiary
AccrualOfUnpaidInvestmentInSubsidiary
3907139 usd
us-gaap Transfer To Investments
TransferToInvestments
734290 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
0.00001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24999842 shares
CY2023Q3 us-gaap Profit Loss
ProfitLoss
438156 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
4373511 usd
us-gaap Profit Loss
ProfitLoss
1065486 usd
us-gaap Profit Loss
ProfitLoss
5853861 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-219874 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1412550 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-16195184 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
510128 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
412659 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_843_eus-gaap--UseOfEstimates_zyJPFndUtHWh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_86F_zVK05osWAPI4">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; 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 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zzI4n6HWe5j4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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_867_zMARoRMvhaNb">Reclassification</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
247753 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
272550 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
272550 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
213787 usd
AIXN Reversal Of Provision For Bad Debts
ReversalOfProvisionForBadDebts
62100 usd
AIXN Reversal Of Provision For Bad Debts
ReversalOfProvisionForBadDebts
115495 usd
AIXN Acquisition Of Subsidiary
AcquisitionOfSubsidiary
185561 usd
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
72350 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
14547 usd
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
31497 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
247753 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
483346 usd
CY2023Q3 AIXN Provision For Inventory Reserve
ProvisionForInventoryReserve
8558 usd
CY2022Q3 AIXN Provision For Inventory Reserve
ProvisionForInventoryReserve
0 usd
CY2023Q3 us-gaap Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
0.05 pure
CY2022 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3823770 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1066919 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zRnOUDheZLwg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><span id="xdx_866_zDeKBqPNEIo4">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; 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 0; 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_904_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uRMB_c20230930_zNc9TIaQ5yZ3">500,000</span> ($<span id="xdx_903_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uUSD_c20230930_zkl5oH6hQYga" 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 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three and nine months ended September 30, 2023 and 2022, the Company had no customer that accounted for over <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zXxJVUmJG3xi" title="Concentration risk percentage1"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zdRwJXVMXvQ5" title="Concentration risk percentage1"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zKYT4YtBhcUf" title="Concentration risk percentage1"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zzETQrcbYw13" title="Concentration risk percentage1">10</span></span></span></span>% of its total revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three months ended September 30, 2023, the Company had one supplier that accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zQICh4pK2j4d" title="Concentration risk, percentage">20</span>% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the nine months ended September 30, 2023, the Company had two suppliers that accounted for <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zH2hXUsqYAIi" title="Concentration risk, percentage">15</span>% and <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierTwoMember_zx2BZwj9uCQ8" title="Concentration risk, percentage">12</span>%, respectively, of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the three months ended September 30, 2022, the Company had one supplier that accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zFsKbHbFFqrb" title="Concentration risk, percentage">35</span>% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">During the nine months ended September 30, 2022, the Company had one supplier that accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierOneMember_zK3LwnZeSCyf" title="Concentration risk, percentage">20</span>% of its total purchases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
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500000
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
72500 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
672786 usd
CY2023Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
1802174 usd
CY2022Q3 us-gaap Operating Costs And Expenses
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CY2023Q3 us-gaap Operating Income Loss
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CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3297689 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Operating Costs And Expenses
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us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2023Q3 us-gaap Assets
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4280077 usd
CY2022Q4 us-gaap Assets
Assets
5050884 usd
CY2023Q3 us-gaap Deposit Assets
DepositAssets
12245 usd
CY2022Q4 us-gaap Deposit Assets
DepositAssets
15546 usd
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
102704 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9490 usd
CY2023Q3 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
7379 usd
CY2022Q4 us-gaap Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
10124 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
20996 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
7471 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
143324 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
42631 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
573073 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
78034 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
73821 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
643623 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
499252 usd
CY2023Q3 us-gaap Supplies
Supplies
144613 usd
CY2022Q4 us-gaap Supplies
Supplies
168523 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
142519 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
62462 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
15265 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
15315 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
521 usd
CY2023Q3 AIXN Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
486273 usd
CY2022Q4 AIXN Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
412129 usd
CY2023Q3 AIXN Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
77600 usd
CY2022Q4 AIXN Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
82646 usd
CY2023Q3 us-gaap Inventory Gross
InventoryGross
721657 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2859273 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2928342 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1200388 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
956549 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1658885 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1971793 usd
CY2023Q3 us-gaap Depreciation
Depreciation
114300 usd
CY2022Q3 us-gaap Depreciation
Depreciation
25111 usd
us-gaap Depreciation
Depreciation
307209 usd
us-gaap Depreciation
Depreciation
81036 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
10609 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
8564 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7769 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7295 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2840 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1269 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
387 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
591 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
905 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1885 usd
CY2023Q3 us-gaap Accrued Rent Current
AccruedRentCurrent
74415 usd
CY2023Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
110246 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
104100 usd
CY2023Q3 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
281728 usd
CY2022Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
270349 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
248759 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
307331 usd
CY2022Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
32746 usd
CY2023Q3 us-gaap Construction Payable Current
ConstructionPayableCurrent
1196037 usd
CY2022Q4 us-gaap Construction Payable Current
ConstructionPayableCurrent
1384674 usd
CY2023Q3 AIXN Payable For Equipment Purchase Current
PayableForEquipmentPurchaseCurrent
29213 usd
CY2022Q4 AIXN Payable For Equipment Purchase Current
PayableForEquipmentPurchaseCurrent
32278 usd
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
247786 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
233894 usd
CY2023Q3 us-gaap Deposit Liability Current
DepositLiabilityCurrent
10690 usd
CY2022Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
11308 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
47504 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
83910 usd
CY2023Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2136132 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2356490 usd
CY2023Q3 us-gaap Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
82237 usd
CY2022Q4 us-gaap Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
86992 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
457793 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
999285 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
439959 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
883583 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
158069 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
194725 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
598028 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1078308 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
200716 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
183051 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
618085 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
632496 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
500056 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
525979 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M3D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M24D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
354246 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
130992 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
79844 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
36366 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8224 usd
CY2023Q3 AIXN Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
3427 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
613099 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15071 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
598028 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
439959 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
158069 usd
CY2023Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
94361 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
333919 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
236882 usd
CY2014Q2 us-gaap Payments For Rent
PaymentsForRent
5000
CY2014Q2 us-gaap Payments For Rent
PaymentsForRent
690 usd
CY2014Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-05-28
CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2022Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 usd
CY2020Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one (1)-for-four (4) reverse stock.
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q3 us-gaap Common Stock Shares Authorized
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500000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
24999842 shares
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
92885 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
92885 usd
us-gaap Share Based Compensation
ShareBasedCompensation
278655 usd
us-gaap Share Based Compensation
ShareBasedCompensation
278655 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
394012 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
394012 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y25D
AIXN Net Income Transfer Percentage
NetIncomeTransferPercentage
0.10 pure
AIXN Capital Reserve Percentage
CapitalReservePercentage
0.50 pure
CY2023Q3 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
CY2022Q3 AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
AIXN Statutory Reserve Fund
StatutoryReserveFund
0 usd
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_80C_eus-gaap--LossContingencyDisclosures_zjR6Twx6Ttab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b>16. <span id="xdx_823_zcdiuAsDpyma">OPERATING CONTINGENCIES</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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 0; 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_900_eus-gaap--LongTermPurchaseCommitmentAmount_c20201201__20201231_zfWzdfoD5ulb" title="Purchase commitment amount">392,305</span> (RMB <span id="xdx_908_eus-gaap--LongTermPurchaseCommitmentAmount_uRMB_c20201201__20201231_zhejMdYkFpR2" 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_909_eus-gaap--LitigationSettlementExpense_c20201201__20201231_zWvu4YGlkfkb" title="Litigation settlement expense">392,305</span> (RMB <span id="xdx_905_eus-gaap--LitigationSettlementExpense_uRMB_c20201201__20201231_zJ33G4KcztCf" 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 0; 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 0; 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 0; 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 0; 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 September 30, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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 0; 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2020Q4 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
392305 usd
CY2020Q4 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
2500000
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
392305 usd
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
2500000
CY2023Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
804470 usd
CY2023Q3 AIXN Business Acquisitions Pro Forma Cost Of Goods And Services Sold
BusinessAcquisitionsProFormaCostOfGoodsAndServicesSold
-1205371 usd
CY2023Q3 AIXN Business Acquisitions Pro Forma Loss From Operations
BusinessAcquisitionsProFormaLossFromOperations
400901 usd
CY2023Q3 AIXN Business Acquisitions Pro Forma Other Nonoperating Income Expense
BusinessAcquisitionsProFormaOtherNonoperatingIncomeExpense
-25455 usd
CY2023Q3 AIXN Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
-322 usd
CY2023Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
426034 usd
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1854617 usd
AIXN Business Acquisitions Pro Forma Cost Of Goods And Services Sold
BusinessAcquisitionsProFormaCostOfGoodsAndServicesSold
-3826342 usd
AIXN Business Acquisitions Pro Forma Loss From Operations
BusinessAcquisitionsProFormaLossFromOperations
1971725 usd
AIXN Business Acquisitions Pro Forma Other Nonoperating Income Expense
BusinessAcquisitionsProFormaOtherNonoperatingIncomeExpense
25313 usd
AIXN Business Acquisitions Pro Forma Other Nonoperating Income Expense
BusinessAcquisitionsProFormaOtherNonoperatingIncomeExpense
25313 usd
AIXN Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
643 usd
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1947055 usd

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