2024 Q1 Form 10-K Financial Statement
#000149315224013947 Filed on April 08, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $26.39K | $792.1K | $4.090M |
YoY Change | -96.5% | -33.78% | 51.0% |
Cost Of Revenue | $788.9K | $900.6K | $3.425M |
YoY Change | 20.76% | -11.28% | 20.47% |
Gross Profit | $62.67K | -$108.5K | $664.8K |
YoY Change | -38.21% | -159.93% | -594.08% |
Gross Profit Margin | 237.51% | -13.7% | 16.25% |
Selling, General & Admin | $583.0K | $998.3K | $2.836M |
YoY Change | -3.53% | 41.56% | 29.94% |
% of Gross Profit | 930.27% | 426.61% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $106.3K | $100.7K | $410.7K |
YoY Change | 1.66% | -1.91% | 121.32% |
% of Gross Profit | 169.62% | 61.78% | |
Operating Expenses | $1.473M | $998.3K | $6.589M |
YoY Change | 12.71% | 41.56% | 24.83% |
Operating Profit | -$621.2K | -$1.107M | -$2.499M |
YoY Change | 12.55% | 111.16% | -2.75% |
Interest Expense | $110.00 | $150.00 | $840.00 |
YoY Change | -62.07% | -87.9% | -82.79% |
% of Operating Profit | |||
Other Income/Expense, Net | $17.65K | $95.10K | $427.6K |
YoY Change | -22.07% | 1090.24% | -111.26% |
Pretax Income | -$603.6K | -$1.012M | -$2.071M |
YoY Change | 14.03% | 96.45% | -67.48% |
Income Tax | $13.64K | $19.52K | |
% Of Pretax Income | |||
Net Earnings | -$603.6K | -$1.025M | -$2.091M |
YoY Change | 13.93% | 98.92% | -67.18% |
Net Earnings / Revenue | -2287.58% | -129.43% | -51.12% |
Basic Earnings Per Share | -$0.02 | -$0.08 | |
Diluted Earnings Per Share | -$0.02 | -$0.04 | -$0.08 |
COMMON SHARES | |||
Basic Shares Outstanding | 25.00M shares | 25.00M shares | 25.00M shares |
Diluted Shares Outstanding | 25.00M shares | 25.00M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $305.0K | $443.8K | $443.8K |
YoY Change | -38.62% | -13.01% | -13.01% |
Cash & Equivalents | $305.0K | $443.8K | $443.8K |
Short-Term Investments | |||
Other Short-Term Assets | $285.2K | $173.0K | $173.0K |
YoY Change | 43.42% | -19.05% | -19.05% |
Inventory | $459.4K | $441.1K | $593.7K |
Prepaid Expenses | |||
Receivables | $379.8K | $253.6K | $253.6K |
Other Receivables | $102.4K | $12.40K | $33.47K |
Total Short-Term Assets | $1.696M | $1.497M | $1.497M |
YoY Change | -16.31% | -24.22% | -24.22% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.551M | $1.680M | $3.256M |
YoY Change | -17.4% | -14.81% | 9.61% |
Goodwill | |||
YoY Change | |||
Intangibles | $3.398K | $3.917K | |
YoY Change | 211.17% | 208.67% | |
Long-Term Investments | $83.17K | $84.51K | $84.51K |
YoY Change | -4.81% | -2.85% | -2.85% |
Other Assets | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Total Long-Term Assets | $3.763M | $3.345M | $3.345M |
YoY Change | 34.75% | 8.78% | 8.78% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.696M | $1.497M | $1.497M |
Total Long-Term Assets | $3.763M | $3.345M | $3.345M |
Total Assets | $5.459M | $4.842M | $4.842M |
YoY Change | 13.28% | -4.13% | -4.13% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $487.9K | $478.5K | $478.5K |
YoY Change | 10.83% | 20.07% | 20.07% |
Accrued Expenses | $2.395M | $2.927M | $2.927M |
YoY Change | -17.9% | -7.27% | -7.27% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $83.10K | $84.51K | $84.51K |
YoY Change | -4.89% | -2.85% | -2.85% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $5.946M | $5.964M | $5.964M |
YoY Change | 10.15% | 12.06% | 12.06% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $1.902M | $789.5K | $789.5K |
YoY Change | 958.77% | 305.43% | 305.43% |
Total Long-Term Liabilities | $1.902M | $789.5K | $789.5K |
YoY Change | 958.77% | 305.43% | 305.43% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $5.946M | $5.964M | $5.964M |
Total Long-Term Liabilities | $1.902M | $789.5K | $789.5K |
Total Liabilities | $7.848M | $6.754M | $6.754M |
YoY Change | 40.7% | 22.42% | 22.42% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$17.82M | -$17.22M | |
YoY Change | 13.82% | 12.92% | |
Common Stock | $250.00 | $250.00 | |
YoY Change | 0.0% | 0.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$2.389M | -$1.912M | -$1.912M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $5.459M | $4.842M | $4.842M |
YoY Change | 13.28% | -4.13% | -4.13% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$603.6K | -$1.025M | -$2.091M |
YoY Change | 13.93% | 98.92% | -67.18% |
Depreciation, Depletion And Amortization | $106.3K | $100.7K | $410.7K |
YoY Change | 1.66% | -1.91% | 121.32% |
Cash From Operating Activities | -$461.5K | -$1.172M | -$1.392M |
YoY Change | -2.38% | 452.9% | -14.3% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $41.05K | $79.52K | $295.5K |
YoY Change | 2251.26% | -23.71% | 88.54% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$3.320K | -$3.320K | |
YoY Change | -99.91% | -99.9% | |
Cash From Investing Activities | -$41.05K | -$82.84K | -$302.8K |
YoY Change | 692.38% | -97.88% | -91.4% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $383.8K | 1.210M | $1.560M |
YoY Change | -12.29% | -240.14% | -165.3% |
NET CHANGE | |||
Cash From Operating Activities | -$461.5K | -1.172M | -$1.392M |
Cash From Investing Activities | -$41.05K | -82.84K | -$302.8K |
Cash From Financing Activities | $383.8K | 1.210M | $1.560M |
Net Change In Cash | -$126.0K | -44.63K | -$152.9K |
YoY Change | 236.23% | -99.11% | -98.08% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$461.5K | -$1.172M | -$1.392M |
Capital Expenditures | $41.05K | $79.52K | $295.5K |
Free Cash Flow | -$502.5K | -$1.252M | -$1.688M |
YoY Change | 5.92% | 295.82% | -5.25% |
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CY2022 | us-gaap |
Operating Expenses
OperatingExpenses
|
5278019 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2498807 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2569459 | usd |
CY2023 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
838 | usd |
CY2022 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
4876 | usd |
CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3823770 | usd |
CY2023 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
438348 | usd |
CY2022 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
51856 | usd |
CY2023 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
11554 | usd |
CY2022 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
31651 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
427632 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-3798689 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2071175 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-6368148 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
19519 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1097 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2090694 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6369245 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
8301 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-537974 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-2082393 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-6907219 | usd |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.084 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.084 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.255 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.255 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24999834 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
24999834 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24999842 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
24999842 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6069491 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
371540 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6369245 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-537974 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-466188 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-466188 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
371540 | usd |
CY2023 | AIXN |
Disposal Of Subsidiary
DisposalOfSubsidiary
|
120160 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
145300 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2090694 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
8301 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1911581 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1911581 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2090694 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6369245 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
410690 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
185565 | usd |
CY2023 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-362 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-47762 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
45953 | usd |
CY2023 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
7770 | usd |
CY2022 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
54899 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
817179 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
837425 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
371540 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
371540 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
15152 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
1858 | usd |
CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3823770 | usd |
CY2023 | AIXN |
Government Grant Income
GovernmentGrantIncome
|
369857 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
132455 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-109439 | usd |
CY2023 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
133513 | usd |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
103016 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-36240 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-150872 | usd |
CY2023 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
37275 | usd |
CY2022 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-24401 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
-52010 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
-137711 | usd |
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-779599 | usd |
CY2022 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-710865 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-161393 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
289868 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1392259 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1624565 | usd |
CY2023 | AIXN |
Cash Disposed At Disposal Of Subsidiary
CashDisposedAtDisposalOfSubsidiary
|
-3319 | usd |
CY2022 | us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
446381 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
295487 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
156723 | usd |
CY2023 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
4032 | usd |
CY2022 | AIXN |
Prepayment For Acquisition
PrepaymentForAcquisition
|
3812027 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-302838 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3522369 | usd |
CY2023 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
1048409 | usd |
CY2022 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
-2389593 | usd |
CY2023 | AIXN |
Proceeds From Government Grant
ProceedsFromGovernmentGrant
|
369857 | usd |
CY2023 | us-gaap |
Proceeds From Contributed Capital
ProceedsFromContributedCapital
|
142200 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1560466 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2389593 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-18303 | 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 |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-152934 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-7980953 | 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 |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
466966 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
619900 | usd |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
4367 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
71163 | 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
|
24999834 | shares |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2090694 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1392259 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1624565 | usd |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-17220392 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
510128 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
443758 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_843_eus-gaap--UseOfEstimates_zBXTQPXYCp4i" 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"><b><span id="xdx_86F_zn3ZC5j3Kezg">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">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">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> | |
CY2023 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zMDCDUwG8Nn1" 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"><b><span id="xdx_861_zSXBfBMCNLq2">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">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> | |
CY2023 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
7770 | usd |
CY2022 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
54899 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
80640 | 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 |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-47762 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
45953 | usd |
CY2022 | AIXN |
Acquisition Of Subsidiary
AcquisitionOfSubsidiary
|
196164 | usd |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
|
135589 | usd |
CY2022 | us-gaap |
Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
|
165227 | usd |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
8559 | usd |
CY2022 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
18127 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
80640 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
272550 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Salvage Value Percentage
PropertyPlantAndEquipmentSalvageValuePercentage
|
0.05 | pure |
CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3823770 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_zJx9QQaZ5rX4" 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"><b><span id="xdx_86D_zCktIfWbVXxk">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">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">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_906_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uRMB_c20231231_zcowNYFXJYyg">500,000</span> ($<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_uUSD_c20231231_zJdxgegl6dL2" 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">During the years ended December 31, 2023 and 2022, the Company had no customer that accounted for over <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zO5QpRYSKbbc" title="Concentration risk percentage1"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomerMember_zfnGUVVy8Og5" title="Concentration risk percentage1">10</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 id="xdx_89A_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zS7QoutTVvjd" 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">During the year ended December 31, 2023, the Company had two suppliers that accounted for over 10% 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"><span id="xdx_8B5_zoMX6dpB0ZY5" style="display: none">SCHEDULE OF CONCENTRATION OF RISK BY RISK FACTORS</span><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="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid; font-weight: bold">Supplier</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Net purchases for the<br/> year ended<br/> December 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">% of total purchase</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">A</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--PurchaseCost_pp0p0_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_zeQ0yfQR6Q14" style="width: 16%; text-align: right" title="Total purchases">250,999</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierAMember_z8woFNNhHjM7" style="width: 16%; text-align: right">14</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>B</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--PurchaseCost_pp0p0_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zYH1wiJPM124" style="text-align: right" title="Total purchases">195,202</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zHzInXvmDX0l" style="text-align: right">11</td><td style="text-align: left">%</td></tr> </table> <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">During the year ended December 31, 2022, the Company had two major suppliers that accounted for over 10% 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> <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: bottom"> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Supplier</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net purchases for the<br/> year ended<br/> December 31, 2022</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td> <td colspan="2" style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>% of total purchase</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 62%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">B</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</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--SupplierBMember_zsXBmsrmsqUk" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right" title="Net purchases"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">189,150</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierBMember_zD613QtYoOHh" style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">C (1)</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_987_ecustom--PurchaseCost_pp0p0_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_fKDEp_zZUN6NpN1L01" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Net purchases"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">149,806</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td id="xdx_985_eus-gaap--ConcentrationRiskPercentage1_pid_dp_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfSalesMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--SupplierCMember_fKDEp_zlEmqKHPBuLa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Percentage of total purchase"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</span></td> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><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"></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_F07_zSILHXgbcRWg" 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_F18_zYEOYUJha8Y1" 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 19).</span></td></tr> </table> <p id="xdx_8A8_zBnjk9Wws8K7" 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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
500000 | |
CY2023Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
72500 | usd |
CY2022Q4 | us-gaap |
Deposit Assets
DepositAssets
|
15546 | usd |
CY2023Q4 | AIXN |
Payable For Equipment Purchase Current
PayableForEquipmentPurchaseCurrent
|
30307 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
4089799 | usd |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
2708560 | usd |
CY2023 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
6588606 | usd |
CY2022 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
5278019 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2498807 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2569459 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
4842358 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
5050884 | usd |
CY2023Q4 | us-gaap |
Deposit Assets
DepositAssets
|
8978 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
128378 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
|
9490 | usd |
CY2023Q4 | us-gaap |
Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
|
8667 | usd |
CY2022Q4 | us-gaap |
Estimated Insurance Recoveries
EstimatedInsuranceRecoveries
|
10124 | usd |
CY2023Q4 | us-gaap |
Other Assets
OtherAssets
|
24808 | usd |
CY2022Q4 | us-gaap |
Other Assets
OtherAssets
|
7471 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
170831 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
42631 | usd |
CY2023Q4 | us-gaap |
Supplies
Supplies
|
152563 | usd |
CY2022Q4 | us-gaap |
Supplies
Supplies
|
168523 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
114005 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
62462 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
15315 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
521 | usd |
CY2023Q4 | AIXN |
Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
|
324588 | usd |
CY2022Q4 | AIXN |
Drugs Pharmaceutical And Nutritional Products
DrugsPharmaceuticalAndNutritionalProducts
|
412129 | usd |
CY2023Q4 | AIXN |
Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
|
81969 | usd |
CY2022Q4 | AIXN |
Inventory Food And Beverage Hotel Supplies And Consumables Gross
InventoryFoodAndBeverageHotelSuppliesAndConsumablesGross
|
82646 | usd |
CY2022Q4 | AIXN |
Payable For Equipment Purchase Current
PayableForEquipmentPurchaseCurrent
|
32278 | usd |
CY2023Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
250505 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
233894 | usd |
CY2023Q4 | us-gaap |
Deposit Liability Current
DepositLiabilityCurrent
|
10986 | usd |
CY2023Q4 | us-gaap |
Inventory Gross
InventoryGross
|
520562 | usd |
CY2022Q4 | us-gaap |
Inventory Gross
InventoryGross
|
573073 | usd |
CY2023Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
79464 | usd |
CY2022Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
73821 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
441098 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
499252 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3010372 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2928342 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1330697 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
956549 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1679675 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1971793 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
409351 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
183542 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
12516 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
8564 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
8599 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
7295 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
3917 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1269 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1339 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2023 | usd |
CY2022Q4 | us-gaap |
Deposit Liability Current
DepositLiabilityCurrent
|
11308 | usd |
CY2023Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
49249 | usd |
CY2022Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
104100 | usd |
CY2023Q4 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
231983 | usd |
CY2022Q4 | us-gaap |
Accrued Insurance Current
AccruedInsuranceCurrent
|
270349 | usd |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
308768 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
307331 | usd |
CY2022Q4 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
32746 | usd |
CY2023Q4 | us-gaap |
Construction Payable Current
ConstructionPayableCurrent
|
1229775 | usd |
CY2022Q4 | us-gaap |
Construction Payable Current
ConstructionPayableCurrent
|
1384674 | usd |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
100742 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
83910 | usd |
CY2023Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
2163066 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
2356490 | usd |
CY2021Q4 | AIXN |
Government Grant Contribution
GovernmentGrantContribution
|
8000000 | |
CY2021Q4 | AIXN |
Government Grant Contribution
GovernmentGrantContribution
|
1194400 | usd |
CY2023Q4 | AIXN |
Government Grant
GovernmentGrant
|
923238 | usd |
CY2023Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
84508 | usd |
CY2022Q4 | us-gaap |
Short Term Non Bank Loans And Notes Payable
ShortTermNonBankLoansAndNotesPayable
|
86992 | usd |
CY2023 | us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
Runcangsheng leases its office under an operating lease arrangement. The lease was expired as of December 31, 2023. In January 2024, the lease was renewed with the expiration date on December 31, 2024. | |
CY2023 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2024-12-31 | |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1576814 | usd |
CY2022Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
999285 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
864519 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
883583 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
789489 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
194725 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1654008 | usd |
CY2022Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1078308 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
817179 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
837425 | usd |
CY2023 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
779599 | usd |
CY2022 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
710865 | usd |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y11M26D | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y5M12D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0475 | pure |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0475 | pure |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
921869 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
759052 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
37370 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
8451 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
3521 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1730263 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
76255 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1654008 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
864519 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
789489 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
86392 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
42 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
86392 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
42 | usd |
CY2023Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
1776 | usd |
CY2022Q4 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
165958 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1226885 | 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
|
704 | usd |
CY2014Q2 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2028-05-28 | |
CY2023 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
4367 | usd |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
-761 | usd |
CY2023 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
4367 | usd |
CY2022 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
-761 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
15152 | usd |
CY2022 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
1858 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
15152 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
1858 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
19519 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1097 | usd |
CY2023Q4 | AIXN |
Deferred Tax Assets Accumulated Amortization
DeferredTaxAssetsAccumulatedAmortization
|
13204 | usd |
CY2022Q4 | AIXN |
Deferred Tax Assets Accumulated Amortization
DeferredTaxAssetsAccumulatedAmortization
|
15556 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
13204 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
15556 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.033 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.038 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.252 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.250 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
0.002 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.009 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.000 | pure |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | usd |
CY2020Q3 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
one (1)-for-four (4) reverse stock | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
500000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2023 | us-gaap |
Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
|
24999834 | shares |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
371540 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
371540 | usd |
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
301127 | usd |
CY2023 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P0Y9M21D | |
CY2023 | us-gaap |
Other Income
OtherIncome
|
369857 | usd |
CY2023 | AIXN |
Net Income Transfer Percentage
NetIncomeTransferPercentage
|
0.10 | pure |
CY2023 | AIXN |
Capital Reserve Percentage
CapitalReservePercentage
|
0.50 | pure |
CY2023 | AIXN |
Statutory Reserve Fund
StatutoryReserveFund
|
0 | usd |
CY2022 | AIXN |
Statutory Reserve Fund
StatutoryReserveFund
|
0 | usd |
CY2023 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<p id="xdx_80C_eus-gaap--LossContingencyDisclosures_zS3o5C3dtsph" 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"><b>18. <span id="xdx_82A_zSTqEKsIHwXi">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">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"><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">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"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </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"><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">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">In October 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_ziwq6ZbBH0Yd" title="Purchase commitment amount">392,305</span> (RMB <span id="xdx_908_eus-gaap--LongTermPurchaseCommitmentAmount_uRMB_c20201201__20201231_zxqaZ1lgp5u" 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_z6JzB4OJw54g" title="Litigation settlement expense">392,305</span> (RMB <span id="xdx_905_eus-gaap--LitigationSettlementExpense_uRMB_c20201201__20201231_zFJZAwQhdNMa" title="Litigation settlement expense">2,500,000</span>) to the Plaintiff. In December 2020, Aixintang Pharmacy filed a motion of appeal 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">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 of re-trial to the Jiangsu High People’s Court on the basis that the Purchase Agreement was forged, the motion was accepted by Jiangsu High People’s Court in July 2021. Due to the impact of COVID-19 pandemic, Aixintang Pharmacy was unable to provide any new evidence to the Jiangsu High People’s Court. Consequently, in September 2022, the Court rejected the Defendant’s motion and upheld the judgment rendered in the second 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">In April 2021, Jian Yiao applied for the first execution of the judgement; a total of $<span id="xdx_907_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20210401__20240430__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zdNu4daA2nM6" title="Litigation settlement amount">97,748</span> (RMB <span id="xdx_906_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20210401__20240430__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_z3oYSJUYvfIe" title="Litigation settlement amount">694,000</span>) was executed. On June 13, 2023, Jian Yiao applied for the restoration of execution. The total amount executed this time was $<span id="xdx_901_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20230613__20230613__srt--LitigationCaseAxis__custom--RestorationOfExecutionMember_zmcQ2CyghE8f" title="Litigation settlement amount">110,818</span> (RMB <span id="xdx_90D_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20230613__20230613__srt--LitigationCaseAxis__custom--RestorationOfExecutionMember_zyIb1fRS8uy" title="Litigation settlement amount">786,800</span>), and the remaining amount including overdue interest of $<span id="xdx_900_eus-gaap--LitigationSettlementInterest_c20230613__20230613__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_ziJarT6dwnKc" title="Litigation settlement interest">139,692</span> (RMB <span id="xdx_909_eus-gaap--LitigationSettlementInterest_uRMB_c20230613__20230613__srt--LitigationCaseAxis__custom--FirstExecutionOfJudgementMember_zDsz91QodFHe" title="Litigation settlement interest">991,800</span>) was not executed. As of March 27, 2024, the amount that was frozen from this case was $<span id="xdx_908_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_c20240327__20240327__srt--LitigationCaseAxis__custom--FrozenCaseMember_zM3yVcZQ13b9" title="Litigation settlement amount">35,672</span> (RMB <span id="xdx_902_eus-gaap--LitigationSettlementAmountAwardedToOtherParty_uRMB_c20240327__20240327__srt--LitigationCaseAxis__custom--FrozenCaseMember_zQOAjyWjiw72" title="Litigation settlement amount">253,266</span>), the total amount executed was $<span id="xdx_907_eus-gaap--GainLossRelatedToLitigationSettlement_c20240327__20240327__srt--LitigationCaseAxis__custom--FrozenCaseMember_zXyt1Ay56hUj" title="Gain loss litigation settlement">212,412</span> (RMB <span id="xdx_905_eus-gaap--GainLossRelatedToLitigationSettlement_pn4n6_uRMB_c20240327__20240327__srt--LitigationCaseAxis__custom--FrozenCaseMember_zQxdv9ZHN9a3" title="Gain loss litigation settlement">1.51</span> million), and the bank accounts of Chengdu Aixin Tang Haichuan Pharmacy Co., Ltd and its three branches were still frozen as of this report date.</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">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, 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">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 | |
CY2023 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
3168061 | usd |
CY2023 | AIXN |
Business Acquisitions Pro Forma Cost Of Goods And Services Sold
BusinessAcquisitionsProFormaCostOfGoodsAndServicesSold
|
-5605508 | usd |
CY2023 | AIXN |
Business Acquisitions Pro Forma Loss From Operations
BusinessAcquisitionsProFormaLossFromOperations
|
2437447 | usd |
CY2023 | AIXN |
Business Acquisitions Pro Forma Other Nonoperating Income Expense
BusinessAcquisitionsProFormaOtherNonoperatingIncomeExpense
|
34839 | usd |
CY2023 | AIXN |
Business Acquisitions Pro Forma Income Tax Expense Benefit
BusinessAcquisitionsProFormaIncomeTaxExpenseBenefit
|
1097 | usd |
CY2023 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2403705 | usd |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
169016 | usd |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1200000 |