2022 Q3 Form 20-F Financial Statement

#000149315223004197 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2022 Q3 2022 2021 Q3
Revenue $16.22M $29.91M $13.80M
YoY Change 17.57% 17.31% -24.28%
Cost Of Revenue $10.83M $20.48M $10.06M
YoY Change 7.71% 11.44% -22.74%
Gross Profit $5.388M $9.424M $3.738M
YoY Change 44.12% 32.5% -28.14%
Gross Profit Margin 33.22% 31.51% 27.1%
Selling, General & Admin $1.376M $2.459M $730.0K
YoY Change 88.49% 68.15% -52.25%
% of Gross Profit 25.54% 26.09% 19.53%
Research & Development $259.9K $424.6K $142.1K
YoY Change 82.95% 70.47% -30.83%
% of Gross Profit 4.82% 4.51% 3.8%
Depreciation & Amortization $105.6K $218.5K $110.7K
YoY Change -4.59% -4.39% 15.1%
% of Gross Profit 1.96% 2.32% 2.96%
Operating Expenses $1.636M $2.883M $872.0K
YoY Change 87.59% 68.49% -49.72%
Operating Profit $3.752M $6.540M $2.866M
YoY Change 30.9% 21.1% -17.36%
Interest Expense -$132.5K $446.9K -$196.6K
YoY Change -32.62% -197.32% -40.17%
% of Operating Profit -3.53% 6.83% -6.86%
Other Income/Expense, Net $797.7K $969.2K $490.00
YoY Change 162693.88% 98.23% -99.9%
Pretax Income $4.417M $7.509M $2.670M
YoY Change 65.43% 38.29% -26.94%
Income Tax $704.3K $1.267M $355.9K
% Of Pretax Income 15.94% 16.87% 13.33%
Net Earnings $3.689M $6.237M $2.279M
YoY Change 61.83% 35.87% -24.69%
Net Earnings / Revenue 22.74% 20.86% 16.52%
Basic Earnings Per Share $0.75
Diluted Earnings Per Share $0.44 $0.74 $299.4K
COMMON SHARES
Basic Shares Outstanding 8.396M shares 8.361M shares
Diluted Shares Outstanding 8.396M shares

Balance Sheet

Concept 2022 Q3 2022 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $840.9K $840.9K $3.607M
YoY Change -76.69% -76.69% 6691.9%
Cash & Equivalents $840.9K $1.904M
Short-Term Investments $0.00 $0.00 $1.703M
Other Short-Term Assets $5.370M $5.370M $5.193M
YoY Change 3.39% 3.39% 29.84%
Inventory $1.722M $1.722M $1.596M
Prepaid Expenses
Receivables $6.784M $6.784M $6.153M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $14.72M $14.72M $16.55M
YoY Change -11.08% -11.08% 52.67%
LONG-TERM ASSETS
Property, Plant & Equipment $21.62M $22.17M $19.43M
YoY Change 11.3% 14.11% 37.1%
Goodwill
YoY Change
Intangibles $366.2K $411.1K
YoY Change -10.92%
Long-Term Investments
YoY Change
Other Assets $2.770K $2.770K $22.34K
YoY Change -87.6% -87.6% -54.46%
Total Long-Term Assets $22.54M $22.54M $19.86M
YoY Change 13.48% 13.48% 38.3%
TOTAL ASSETS
Total Short-Term Assets $14.72M $14.72M $16.55M
Total Long-Term Assets $22.54M $22.54M $19.86M
Total Assets $37.26M $37.26M $36.41M
YoY Change 2.32% 2.32% 44.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $214.6K $214.6K $380.4K
YoY Change -43.59% -43.59% -70.48%
Accrued Expenses $344.6K $344.6K $104.6K
YoY Change 229.52% 229.52% -76.37%
Deferred Revenue
YoY Change
Short-Term Debt $2.425M $2.425M $41.38K
YoY Change 5759.32% 5759.33% -97.91%
Long-Term Debt Due $2.136M $2.162M $609.3K
YoY Change 250.57% 254.88% -51.67%
Total Short-Term Liabilities $6.647M $6.647M $7.529M
YoY Change -11.71% -11.71% -35.63%
LONG-TERM LIABILITIES
Long-Term Debt $189.8K $189.8K $2.202M
YoY Change -91.38% -91.38% -11.27%
Other Long-Term Liabilities $327.2K $327.2K $146.7K
YoY Change 123.04% 123.04%
Total Long-Term Liabilities $189.8K $517.0K $2.349M
YoY Change -91.92% -77.99% -5.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.647M $6.647M $7.529M
Total Long-Term Liabilities $189.8K $517.0K $2.349M
Total Liabilities $7.164M $7.695M $10.41M
YoY Change -31.15% -26.05% -29.14%
SHAREHOLDERS EQUITY
Retained Earnings $14.68M $9.193M
YoY Change 59.66%
Common Stock $15.71M $15.54M
YoY Change 1.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.56M $29.56M $26.01M
YoY Change
Total Liabilities & Shareholders Equity $37.26M $37.26M $36.41M
YoY Change 2.32% 2.32% 44.48%

Cashflow Statement

Concept 2022 Q3 2022 2021 Q3
OPERATING ACTIVITIES
Net Income $3.689M $6.237M $2.279M
YoY Change 61.83% 35.87% -24.69%
Depreciation, Depletion And Amortization $105.6K $218.5K $110.7K
YoY Change -4.59% -4.39% 15.1%
Cash From Operating Activities -$56.54K -$187.1K $2.053M
YoY Change -102.75% -104.62% -2.03%
INVESTING ACTIVITIES
Capital Expenditures $1.148M $27.70K -$4.753M
YoY Change -124.14% -100.58% 21.81%
Acquisitions
YoY Change
Other Investing Activities $83.53K $1.680M -$2.690M
YoY Change -103.11% -162.46% -302.25%
Cash From Investing Activities -$1.064M -$3.056M -$7.443M
YoY Change -85.7% -58.95% 189.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.27M
YoY Change
Debt Paid & Issued, Net $637.1K
YoY Change -74.74%
Cash From Financing Activities 437.1K $2.262M 6.300M
YoY Change -93.06% -57.75% 1301.47%
NET CHANGE
Cash From Operating Activities -56.54K -$187.1K 2.053M
Cash From Investing Activities -1.064M -$3.056M -7.443M
Cash From Financing Activities 437.1K $2.262M 6.300M
Net Change In Cash -683.5K -$1.063M 910.5K
YoY Change -175.07% -154.18% -3508.84%
FREE CASH FLOW
Cash From Operating Activities -$56.54K -$187.1K $2.053M
Capital Expenditures $1.148M $27.70K -$4.753M
Free Cash Flow -$1.204M -$214.8K $6.807M
YoY Change -117.69% -102.44% 13.48%

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CY2022 us-gaap Research And Development Expense
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CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
249050 usd
CY2020 us-gaap Research And Development Expense
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205359 usd
CY2022 us-gaap Operating Expenses
OperatingExpenses
2883347 usd
CY2021 us-gaap Operating Expenses
OperatingExpenses
1711306 usd
CY2020 us-gaap Operating Expenses
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1734148 usd
CY2022 us-gaap Operating Income Loss
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6540218 usd
CY2022 us-gaap Investment Income Interest
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1392 usd
CY2021 us-gaap Investment Income Interest
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3207 usd
CY2020 us-gaap Interest Expense
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329102 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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18831 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-45124 usd
CY2020 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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-248 usd
CY2020 us-gaap Gain Loss On Disposition Of Assets
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20150 usd
CY2022 BON Government Subsidies
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1306627 usd
CY2020 us-gaap Investment Income Interest
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714 usd
CY2022 us-gaap Interest Expense
InterestExpense
446884 usd
CY2021 us-gaap Interest Expense
InterestExpense
417266 usd
CY2021 us-gaap Operating Income Loss
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5400621 usd
CY2021 BON Government Subsidies
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449972 usd
CY2020 BON Government Subsidies
GovernmentSubsidies
362187 usd
CY2022 us-gaap Interest Income Short Term Investment Increase Decrease
InterestIncomeShortTermInvestmentIncreaseDecrease
20343 usd
CY2021 us-gaap Interest Income Short Term Investment Increase Decrease
InterestIncomeShortTermInvestmentIncreaseDecrease
565 usd
CY2022 us-gaap Other Nonoperating Income
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68922 usd
CY2020 us-gaap Operating Income Loss
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3468165 usd
CY2021 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
38409 usd
CY2020 us-gaap Other Nonoperating Income
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132713 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
969231 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
29763 usd
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
186414 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7509449 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5430384 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3654579 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1267025 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
820931 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
556262 usd
CY2022 us-gaap Profit Loss
ProfitLoss
6242424 usd
CY2021 us-gaap Profit Loss
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4609453 usd
CY2020 us-gaap Profit Loss
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3098317 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4936 usd
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18650 usd
CY2020 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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71644 usd
CY2022 us-gaap Net Income Loss
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6237488 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
4590803 usd
CY2020 us-gaap Net Income Loss
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3026673 usd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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-2855701 usd
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
612806 usd
CY2020 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
450234 usd
CY2022 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
3386723 usd
CY2021 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
5222259 usd
CY2020 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
3548551 usd
CY2022 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2627 usd
CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
21133 usd
CY2020 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
81737 usd
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3384096 usd
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5201126 usd
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3466814 usd
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8360774 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6615833 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5210649 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8396064 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6706235 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5210649 shares
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7263346 usd
CY2020 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
63 usd
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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211049 usd
CY2020 us-gaap Profit Loss
ProfitLoss
3098317 usd
CY2020 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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450234 usd
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11023009 usd
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9822350 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
422221 usd
CY2021 BON Amortization Of Stockoptions
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44910 usd
CY2021 us-gaap Profit Loss
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4609453 usd
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
612806 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26534749 usd
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
26534749 usd
CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
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141 usd
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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170883 usd
CY2022 us-gaap Profit Loss
ProfitLoss
6242424 usd
CY2022 us-gaap Profit Loss
ProfitLoss
6242424 usd
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
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-2855701 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30092496 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30092496 usd
CY2022 us-gaap Profit Loss
ProfitLoss
6242424 usd
CY2021 us-gaap Profit Loss
ProfitLoss
4609453 usd
CY2020 us-gaap Profit Loss
ProfitLoss
3098317 usd
CY2022 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
116 usd
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2948 usd
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
22137 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
218526 usd
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
228547 usd
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
230597 usd
CY2022 us-gaap Inventory Lifo Reserve Period Charge
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CY2021 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
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CY2020 us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
29539 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19012 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
29109 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
150978 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
58147 usd
CY2022 BON Amortization Of Stockbased Compensation
AmortizationOfStockbasedCompensation
170883 usd
CY2021 BON Amortization Of Stockbased Compensation
AmortizationOfStockbasedCompensation
44910 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
18831 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-45124 usd
CY2020 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-248 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
725 usd
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
20150 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1300942 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
89543 usd
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
284546 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
157709 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
209011 usd
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1636321 usd
CY2022 us-gaap Increase Decrease In Due From Related Parties Current
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407022 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2021 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
399262 usd
CY2020 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
3021739 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
265446 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2642 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2022 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
-3632922 usd
CY2021 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
410716 usd
CY2020 us-gaap Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
2662542 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-875295 usd
CY2021 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
684030 usd
CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
161045 usd
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
97925 usd
CY2021 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-33092 usd
CY2020 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
46605 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-187121 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4053124 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2643076 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
5097816 usd
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
2159920 usd
CY2022 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
6776385 usd
CY2021 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
470082 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27695 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51878 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31885 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1613 usd
CY2022 BON Capital Expenditures On Constructioninprogress
CapitalExpendituresOnConstructioninprogress
4708138 usd
CY2021 BON Capital Expenditures On Constructioninprogress
CapitalExpendituresOnConstructioninprogress
4432941 usd
CY2020 BON Capital Expenditures On Constructioninprogress
CapitalExpendituresOnConstructioninprogress
4301103 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
269088 usd
CY2021 BON Payment For Acquisition Deposit
PaymentForAcquisitionDeposit
1000000 usd
CY2020 BON Payment For Acquisition Deposit
PaymentForAcquisitionDeposit
-1329945 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3055651 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3003043 usd
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
11271480 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
140 usd
CY2022 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
2631890 usd
CY2021 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1257225 usd
CY2020 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
2033570 usd
CY2022 BON Proceeds From Longterm Loans
ProceedsFromLongtermLoans
578343 usd
CY2021 BON Proceeds From Longterm Loans
ProceedsFromLongtermLoans
1245871 usd
CY2020 BON Proceeds From Longterm Loans
ProceedsFromLongtermLoans
319342 usd
CY2022 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
40780 usd
CY2021 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2563433 usd
CY2020 us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2872778 usd
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
637147 usd
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2522101 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-2262378 usd
CY2020 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
1067808 usd
CY2021 BON Proceeds From Repayment Of Third Party Loans
ProceedsFromRepaymentOfThirdPartyLoans
-721484 usd
CY2020 BON Proceeds From Repayment Of Third Party Loans
ProceedsFromRepaymentOfThirdPartyLoans
238133 usd
CY2022 BON Payment For Repayment Of Finance Lease
PaymentForRepaymentOfFinanceLease
173961 usd
CY2021 BON Payment For Repayment Of Finance Lease
PaymentForRepaymentOfFinanceLease
-169153 usd
CY2020 BON Payment For Repayment Of Finance Lease
PaymentForRepaymentOfFinanceLease
392030 usd
CY2021 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
521651 usd
CY2020 us-gaap Payments For Repurchase Of Initial Public Offering
PaymentsForRepurchaseOfInitialPublicOffering
281553 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2261516 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5352682 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
112492 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
-81750 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-111300 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6810 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1063006 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1850761 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-240665 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1903867 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53106 usd
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
293771 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
840861 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1903867 usd
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53106 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
446884 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
417266 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
276671 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2290393 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2411 usd
CY2021 BON Amortization Of Sharebased Compensation For Initial Public Offering Services
AmortizationOfSharebasedCompensationForInitialPublicOfferingServices
422221 usd
CY2020 BON Amortization Of Sharebased Compensation For Initial Public Offering Services
AmortizationOfSharebasedCompensationForInitialPublicOfferingServices
211112 usd
CY2022 BON Rightofuse Assets Obtained In Exchange For Operating Lease Obligations
RightofuseAssetsObtainedInExchangeForOperatingLeaseObligations
546323 usd
CY2021 BON Rightofuse Assets Obtained In Exchange For Operating Lease Obligations
RightofuseAssetsObtainedInExchangeForOperatingLeaseObligations
257564 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_801_eus-gaap--NatureOfOperations_zRrRstpHZR9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_825_z0WlVNA3ctxc">ORGANIZATION AND BUSINESS DESCRIPTION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Business</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bon Natural Life Limited (“Bon Natural” or the “Company”), through its wholly-owned subsidiaries, is engaged in the research and development, manufacturing and sales of functional active ingredients extracted from natural herb plants which are widely used by manufacturer customers in the functional food, personal care, cosmetic and pharmaceutical industries. The Company sells its products to customers located in both Chinese and international markets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Organizations</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bon Natural Life Limited was incorporated as an exempted company with limited liability under the laws of the Cayman Islands on <span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930_zmgi8at0KJrj" title="Entity date of incorporation">December 11, 2019</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bon Natural owns <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20200109__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TeaEssenceLimitedMember_zVJsz7zweN83" title="Equity ownership">100</span>% equity interest of Tea Essence Limited (“Tea Essence”), an entity incorporated on January 9, 2020 in accordance with the laws and regulations in Hong Kong.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an Cell and Molecule Information Technology Limited. (“Xi’an CMIT”) was formed on April 9, 2020, as a Wholly Foreign-Owned Enterprise (“WFOE”) in the People’s Republic of China (“PRC”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bon Natural, Tea Essence, and Xi’an CMIT are currently not engaging in any active business operations and merely acting as holding companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to the reorganization described below, Mr. Yongwei Hu, the chairman of the board of directors and the chief executive officer of the Company, was the controlling shareholder of Xi’an App-Chem Bio(Tech) Co., Ltd. (“Xi’an App-Chem”), an entity incorporated on April 23, 2006 in accordance with PRC laws. Xi’an App-Chem owns <span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20060423__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianAppChemMember_zAWMIn7FRIO7" title="Equity ownership">100</span>% of the equity interests of the following subsidiaries: (1) Shaanxi App-Chem Health Industry Co., Ltd. (“App-Chem Health”) was incorporated on April 17, 2006 in Tongchuan City in accordance with PRC laws; (2), Shaanxi App-Chem Ag-tech Co., Ltd (“App-Chem Ag-tech”) was incorporated on April 19, 2013 in Dali County, Shaanxi Province in accordance with PRC laws; (3) Xi’an Yanhuang TCM Medical Research &amp; Development Co., Ltd (“Xi’an YH”) was incorporated on September 15, 2009 in Xi’an City in accordance with PRC laws; (4) Balikun Tianmei Bio(Tech) Co., Ltd. (“Balikun”) was incorporated on December 16, 2016 in Balikun City in accordance with PRC laws; (5) App-Chem Bio (Tech) (Guangzhou) Co., Ltd. (“App-Chem Guangzhou”) was incorporated on April 27, 2018 in Guangzhou City in accordance with PRC laws and (6) Tongchuan Dietary Therapy Health Technology Co., Ltd. (“Tongchuan DT”) was incorporated on May 22, 2017 in Tongchuan City in accordance with PRC laws.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition, Xi’an App-Chem also owns majority of the equity interest in the following two entities: Xi’an Dietary Therapy Medical Technology Co., Ltd (“Xi’an DT”) was incorporated on April 24, 2015 in accordance with PRC laws, with <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20150424__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianDTMember_zYSxthU2p3W8" title="Equity ownership">75</span>% equity ownership interest owned by Xi’an App-Chem; Tianjin Yonghexiang Bio(Tech) Co., Ltd. (“Tianjin YHX”) was incorporated on September 16, 2019 in accordance with PRC laws, with <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20190916__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYHXMember_zPftZk8TLvx" title="Equity ownership">51</span>% equity ownership interest owned by Xi’an App-Chem. On March 11, 2020, Xi’an App-Chem established a new <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20200311__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemHealthMember_zbO8xLWAMtZc" title="Equity ownership">100</span>% controlled subsidiary, Gansu Baimeikang Bioengineering Co., Ltd. (“Gansu BMK”).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 27, 2021, the Company disposed Balikun to a third party for RMB <span id="xdx_908_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperation_iI_uRMB_c20210927__dei--LegalEntityAxis__custom--BalikunMember_zzCW18P3uZId" title="Disposal operation, assets">1.00</span>. As Balikun had no operating activity and no material assets, the disposal of Balikun did not constitute discontinued operation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an App-Chem, together with its subsidiaries are collectively referred to as the “Bon Operating Companies” below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Reorganization</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A reorganization of our legal structure (“Reorganization”) was completed on May 28, 2020. The reorganization involved the incorporation of Bon Natural Life, Tea Essence and Xi’an CMIT, and entering into certain contractual arrangements between Xi’an CMIT, the shareholders of Bon Operating Companies and the Bon Operating Companies. Consequently, the Company became the ultimate holding company of Tea Essence, Xi’an CMIT and Bon Operating Companies.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BON NATURAL LIFE LIMITED AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – ORGANIZATION AND BUSINESS DESCRIPTION (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 28, 2020, Xi’an CMIT entered into a series of contractual arrangements with the shareholders of the Bon Operating Companies. These agreements include, Exclusive Service Agreement, Share Pledge Agreement, Proxy Agreement, Exclusive Option Agreement, Powers of Attorney, Spousal Consent Letter, and Loan Agreement intended to guarantee the exercise of the Exclusive Option Agreements and Spouse Consents (collectively the “VIE Agreements”). Pursuant to the VIE Agreements, Xi’an CMIT has the exclusive right to provide to the Bon Operating Companies consulting services related to business operations including technical and management consulting services. The VIE Agreements are designed to provide Xi’an CMIT with the power, rights, and obligations equivalent in all material respects to those it would possess as the sole equity holder of each of the Bon Operating Companies, including control rights and the rights to the assets, property, and revenue of each of the Bon Operating Companies. As a result of our direct ownership in Xi’an CMIT and the VIE Agreements, we believe that the Bon Operating Companies should be treated as Variable Interest Entities (“VIEs”) under the Statement of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810 Consolidation and we are regarded as the primary beneficiary of our VIEs. We treat our VIEs as our consolidated entities under U.S. GAAP. The Company, together with its wholly owned subsidiaries and its VIEs, is effectively controlled by the same shareholders before and after the Reorganization and therefore the Reorganization is considered as a recapitalization of entities under common control. The consolidation of the Company, its subsidiaries, and its VIEs has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. Upon the completion of the Reorganization, the Company has subsidiaries in countries and jurisdictions in the PRC and Hong Kong.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September 8, 2021, Xi’an Youpincui Biotechnology Co., Ltd (“Xi’an Youpincui”) was formed as a Wholly Foreign-Owned Enterprise (“WFOE”) in the PRC. Tea Essence owns <span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20210908__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYonghexiangBioTechCoLtdMember_zQ29YE6x78Wa" title="Equity ownership">100</span>% equity interest in Xi’an Youpincui. Xi’an Youpincui currently is not engaging in any active business operations and merely acting as an investment holding company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On June 28, 2021, the Company closed its initial public offering (“IPO”) of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210626__20210628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_zfYAu0JFFVAl" title="Ordinary shares, shares issued">2,200,000</span> ordinary shares, par value US$<span id="xdx_90F_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20210628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z69z0AjCBORg" title="Ordinary shares, par value">0.0001</span> per share at a public offering price of $<span id="xdx_905_eus-gaap--SharesIssuedPricePerShare_iI_c20210628__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_z0bMPNneOGs8" title="Shares issued, price per share">5.00</span> per share, and the Company’s ordinary shares started to trade on the Nasdaq Capital Market under the ticker symbol “BON” since June 24, 2021. On July 2, 2021, the underwriters exercised its over-allotment option to purchase an additional <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210701__20210702__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zvu81irWpCQ3" title="Ordinary shares, shares issued">330,000</span> shares, par value US$<span id="xdx_90E_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_c20210702__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zQZbG0Ce1A5a" title="Ordinary shares, par value">0.0001</span> per share at the price of $<span id="xdx_904_eus-gaap--SharesIssuedPricePerShare_iI_c20210702__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--OverAllotmentOptionMember_zMZryql1KbM5" title="Shares issued, price per share">5.00</span> per share. Gross proceeds of the Company’s IPO, including the proceeds from the sale of the over-allotment shares, <span style="background-color: white">totalled</span> $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn4n6_c20210701__20210702__us-gaap--SubsidiarySaleOfStockAxis__custom--InitialPublicOfferingAndOverAllotmentOptionMember_zLnuUxIB0xCe" title="Gross proceeds from issuance initial public offering and over-allotment shares">12.65</span> million, before deducting underwriting discounts and other related expenses, resulting in net proceeds of approximately $<span id="xdx_905_eus-gaap--PaymentsOfStockIssuanceCosts_pn5n6_c20210701__20210702__us-gaap--SubsidiarySaleOfStockAxis__custom--InitialPublicOfferingAndOverAllotmentOptionMember_zl5xVrp31nTf" title="Underwriting discounts and other related expenses">11.3</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline">Terminating the VIE agreements for corporate restructuring</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Due to PRC legal restrictions on foreign ownership in companies that engage in online sales China, the Company originally carried out its business through Xi’an App-Chem, a domestic PRC company holding a value-added telecommunications license, through a variable interest entity structure, because foreign investment in the value-added telecommunication services industry in China is extensively regulated and subject to numerous restrictions. However, the Company’s online sales have historically generated minimal revenues. On September 28, 2021, the Company’s Board of Directors approved a restructuring of the Company’s corporate structure to terminate the original VIE contractual agreements, to convert Xi’an App-Chem from a PRC domestic company into a Sino-foreign joint venture, and to transfer <span id="xdx_90E_eus-gaap--VariableInterestEntityOwnershipPercentage_pid_dp_uPure_c20210926__20210928__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--XianAppChemBioTechMember_zRpr9P3gKYw9" title="Variable interest entity ownership percentage">100</span>% of the ownership interests in Xi’an App-Chem from its original shareholders to Xi’an CMIT and Xi’an Youpincui. Effective November 1, 2021, the Company completed the reorganization of its corporate structure in the PRC and are the indirect sole shareholder of Xi’an App-Chem. Xi’an App-Chem is wholly-owned by two WOFEs Xi’an CMIT and Xi’an Youpincui. Each of the WOFEs are in turn wholly-owned by Tea Essence, the Company’s direct wholly-owned subsidiary in Hong Kong. The termination of the VIE agreements as described above does not adversely affect the Company’s business, financial condition, and results of operations because the Company, together with its wholly owned subsidiaries, are effectively controlled by the same shareholders before and after the restructuring. The restructuring is therefore considered to be a recapitalization of entities under common control. Following the corporate restructuring, the value-added telecommunication license held by Xi’an App-Chem has been revoked.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>BON NATURAL LIFE LIMITED AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – ORGANIZATION AND BUSINESS DESCRIPTION (continued)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_ecustom--ScheduleOfSubsidiariesCompanyTableTextBlock_zJItLCPQ9VR2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Details of the subsidiaries of the Company as of September 30, 2022 were set out below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span id="xdx_8BA_zgyd0QEFksr4" style="display: none">SCHEDULE OF SUBSIDIARIES COMPANY</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; 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; width: 24%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of Entity</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Date of Incorporation</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Place of Incorporation</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>% of Ownership</b></span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Principal Activities</b></span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bon Natural Life</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BonNaturalLifeMember_zS23bMURPrVj" title="Date of Incorporation">December 11, 2019</span></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_988_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BonNaturalLifeMember_ziVLenuGnmtb" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cayman Islands</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parent, <span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BonNaturalLifeMember_zIgsZfMff3fd" title="% of Ownership">100</span>%</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_98A_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--BonNaturalLifeMember_zK8x5bhoI269" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <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; text-align: center"><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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tea Essence</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TeaEssenceLimitedMember_zXOhXwdgR5s3" title="Date of Incorporation">January 9, 2020</span></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_989_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TeaEssenceLimitedMember_zQu9EBQK7x2h" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hong Kong</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TeaEssenceLimitedMember_z3nYaUW3Iy21" title="% of Ownership">100</span>%</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_982_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TeaEssenceLimitedMember_zWkyDmjtXqoa" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment holding</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <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; text-align: center"><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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an CMIT</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianCmitMember_zXxcnRRXGsTk" title="Date of Incorporation">April 9, 2020</span></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_984_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianCmitMember_zNSiOjcvS436" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi.an City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianCmitMember_z7QKhkMdp3F" title="% of Ownership">100</span>%</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_981_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianCmitMember_zBc06QG08tmb" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WFOE, Investment holding</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <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; text-align: center"><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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an Youpincui</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYoupincuiMember_zJb3bJYSuno7" title="Date of Incorporation">September 8, 2021</span></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_980_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYoupincuiMember_zn0fJhZDWOX" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi.an City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYoupincuiMember_zHIRpXDqTAx8" title="% of Ownership">100</span>%</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_981_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYoupincuiMember_zj35Lgcinrb5" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">WFOE, Investment holding</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <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; text-align: center"><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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRC Subsidiaries:</b></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; text-align: center"><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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an App- Chem Bio (Tech)</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianAppChemBioTechMember_zQdn25TOyIo3" title="Date of Incorporation">April 23, 2006</span></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_98A_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianAppChemBioTechMember_zRhoEAJReYb" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianAppChemBioTechMember_zCU1m68DzgP4" title="% of Ownership">100</span>% owned by WFOEs</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_988_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianAppChemBioTechMember_zH2ZiuEP2aFj" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General administration and sales of the Company’s products to customers </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bon Operating Companies (owned by Xi’an App-Chem)</b></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; text-align: center"><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; text-align: center"><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></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">App-Chem Health</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemHealthMember_zIAFpUPwzoHl" title="Date of Incorporation">April 17, 2006</span></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_98B_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemHealthMember_zeE97vVa7qeh" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tongchuan City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemHealthMember_zK37ilECcjx7" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_98A_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemHealthMember_zn8v4GshdBW" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registered owner of land with an area of 12,904.5 square meters, no other business activities </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">App-Chem Ag-tech</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemAgtechMember_z2YKa1ndRr9k" title="Date of Incorporation">April 19, 2013</span></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_98B_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemAgtechMember_z1Hgsk1pnYX2" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dali County, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemAgtechMember_z2tLSjF3oAx4" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_98A_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemAgtechMember_z1GdUSPsln27" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product manufacturing </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an YH</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYHMember_zO9TtJuWrfKe" title="Date of Incorporation">September 15, 2009</span></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_98B_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYHMember_ziavnOEu3Zph" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi.an City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYHMember_zO1x3SeDdTvd" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_98A_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianYHMember_zuyLPkpuSQi" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development of product</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">App-Chem Guangzhou</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemGuangzhouMember_zkKKoXM5SPcg" title="Date of Incorporation">April 27, 2018</span></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_981_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemGuangzhouMember_zY79pCAFSjm" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Guangzhou City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemGuangzhouMember_z3Jeci8YNVng" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_981_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AppChemGuangzhouMember_zJuk4xVfiWl9" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raw material purchase </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tongchuan DT</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TongchuanDTMember_z9JdEYFk9zWe" title="Date of Incorporation">May 22, 2017</span></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_98C_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TongchuanDTMember_zWbi8Uhm5Iz3" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tongchuan City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TongchuanDTMember_zCYuqfl1cjr5" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_986_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TongchuanDTMember_zrb0fr7sqKPl" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product manufacturing</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an DT</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianDTMember_zvPQjz08tGz2" title="Date of Incorporation">April 24, 2015</span></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_984_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianDTMember_zY4x4Cjnqu3h" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Xi’an City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianDTMember_zdobQ1fVKUb5" title="% of Ownership">75</span>% owned by Xi’an App-Chem</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_989_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--XianDTMember_zav2SiFVgOy3" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research and development of product </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tianjin YHX</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYHXMember_zWpchK5cpVEk" title="Date of Incorporation">September 16, 2019</span></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_981_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYHXMember_zjkfHVaSTA28" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tianjin City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYHXMember_zGTzkXEWnIBe" title="% of Ownership">51</span>% owned by Xi’an App-Chem</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--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--TianjinYHXMember_zJO2l0WJD0b2" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raw material purchase </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gansu BMK</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_dd_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GansuBMKMember_zNin1RLJAU8j" title="Date of Incorporation">March 11, 2020</span></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_981_ecustom--EntityIncorporationPlaceOfIncorporation_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GansuBMKMember_z0oUiOTE6gEc" style="font: 10pt Times New Roman, Times, Serif; text-align: center" title="Place of Incorporation"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jiuquan City, PRC</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; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GansuBMKMember_z4cWRwZlAhl6" title="% of Ownership">100</span>% owned by Xi’an App-Chem</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_984_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20211001__20220930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--GansuBMKMember_zROfJKmNZeO3" style="font: 10pt Times New Roman, Times, Serif" title="Principal activities"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Product manufacturing</span></td></tr> </table> <p id="xdx_8AA_zkVfR7FIBr5b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2019-12-11
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84A_eus-gaap--UseOfEstimates_zFeyL5utDzB1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span style="text-decoration: underline"><span id="xdx_86A_zWQGqwyrF8gf">Uses of estimates</span></span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“US GAAP”), management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include, but are not limited to, the allowance for estimated uncollectible receivables, realizability of advance to suppliers, inventory valuations, useful lives of property, plant and equipment, intangible assets, the recoverability of long-lived assets, provision necessary for contingent liabilities, fair value of stock-based compensation, revenue recognition and realization of deferred tax assets. The inputs into the Company’s judgments and estimates consider the economic implications of COVID-19 on the Company’s critical and significant accounting estimates. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2021Q3 BON Uncollectable Account Receivable Writtenoff
UncollectableAccountReceivableWrittenoff
99528 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13337 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
14691 usd
CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
6869 usd
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
147960 usd
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P50Y
CY2022Q3 us-gaap Area Of Land
AreaOfLand
4.1 sqft
CY2021Q2 us-gaap Area Of Land
AreaOfLand
8.2 sqft
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
CY2021 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
403399 usd
CY2020 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
213734 usd
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
200000 usd
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
200000 usd
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
2000000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
300000 usd
CY2022Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
188745 usd
CY2021Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
1096101 usd
CY2022 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
1080178 usd
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5210649 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
424558 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
249050 usd
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
205359 usd
CY2022 BON Government Subsidies
GovernmentSubsidies
1306627 usd
CY2021 BON Government Subsidies
GovernmentSubsidies
449972 usd
CY2020 BON Government Subsidies
GovernmentSubsidies
362187 usd
CY2022 BON Value Added Tax Rate Description
ValueAddedTaxRateDescription
17% (starting from May 1, 2018, VAT rate was lowered to 16%, and starting from April 1, 2019, VAT rate was further lowered to 13%)
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
80150 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
54189 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
30724 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
6237488 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
4590803 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
3026673 usd
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8360774 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6615833 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5210649 shares
CY2022 BON Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstanding
35290 shares
CY2021 BON Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstanding
35967 shares
CY2021 BON Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstanding
54435 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35290 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
90402 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8396064 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6706235 shares
CY2022Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
13000000
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 integer
CY2022Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
728470 usd
CY2022Q3 BON Working Capital
WorkingCapital
1200000 usd
CY2022Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1200000 usd
CY2021Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
11300000 usd
CY2022Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2200000 usd
CY2022Q3 us-gaap Cash
Cash
840861 usd
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
6800000 usd
CY2022Q3 us-gaap Accounts Receivable Related Parties Current
AccountsReceivableRelatedPartiesCurrent
5000000.0 usd
CY2022 BON Account Receivable Percentage
AccountReceivablePercentage
0.735 pure
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
15000000
CY2022Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1800000 usd
CY2022Q3 us-gaap Cash
Cash
840861 usd
CY2022Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
6797644 usd
CY2021Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
6167498 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13337 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
14691 usd
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
6784307 usd
CY2021Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
6152807 usd
CY2022Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
6797644 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
13337 usd
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
6784307 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
14691 usd
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
93032 usd
CY2021 BON Allowance For Doubtful Accounts Receivable Additions
AllowanceForDoubtfulAccountsReceivableAdditions
16891 usd
CY2021 BON Writeoff Uncollectible Balance
WriteoffUncollectibleBalance
-99548 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1354 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
4316 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
13337 usd
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
14691 usd
CY2022Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
677042 usd
CY2021Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
555321 usd
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1051947 usd
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1189131 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
6869 usd
CY2021Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
147960 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
1722120 usd
CY2021Q3 us-gaap Inventory Net
InventoryNet
1596492 usd
CY2022Q3 BON Advances To Suppliers For Inventory Raw Materials
AdvancesToSuppliersForInventoryRawMaterials
4091990 usd
CY2021Q3 BON Advances To Suppliers For Inventory Raw Materials
AdvancesToSuppliersForInventoryRawMaterials
4094312 usd
CY2022Q3 BON Advance To Suppliers Net
AdvanceToSuppliersNet
4091990 usd
CY2021Q3 BON Advance To Suppliers Net
AdvanceToSuppliersNet
4094312 usd
CY2022Q3 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
3300000 usd
CY2022 BON Prepaid Inventory Percentage
PrepaidInventoryPercentage
0.810 pure
CY2022 us-gaap Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
30000 usd
CY2022Q3 us-gaap Deposits Assets Current
DepositsAssetsCurrent
1000000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23310525 usd
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20880804 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1686088 usd
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1652162 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21624437 usd
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19228642 usd
CY2022 us-gaap Depreciation
Depreciation
210916 usd
CY2021 us-gaap Depreciation
Depreciation
219906 usd
CY2020 us-gaap Depreciation
Depreciation
226527 usd
CY2022Q3 BON Future Minimum Capital Expenditures On Constructioninprogress
FutureMinimumCapitalExpendituresOnConstructioninprogress
114000000.0
CY2022Q3 BON Future Minimum Capital Expenditures On Constructioninprogress
FutureMinimumCapitalExpendituresOnConstructioninprogress
16000000.0 usd
CY2022Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
366167 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
196809 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
531661 usd
CY2022Q3 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
728470 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
430985 usd
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
474731 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
64818 usd
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
63675 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
366167 usd
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
411056 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7610 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8641 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4070 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8934 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8934 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8934 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8934 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
8934 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
321497 usd
CY2022Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
2424587 usd
CY2021Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
41381 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
2325792 usd
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
2621537 usd
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
2135979 usd
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
448005 usd
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
189813 usd
CY2021Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2173532 usd
CY2022 us-gaap Interest Expense
InterestExpense
446884 usd
CY2021 us-gaap Interest Expense
InterestExpense
417266 usd
CY2020 us-gaap Interest Expense
InterestExpense
329102 usd
CY2022Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1400000 usd
CY2022Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
72836 usd
CY2021Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
245104 usd
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for their HNTE status every three years. The Company’s subsidiary, Xi’an App-Chem was approved as a HNTE and is entitled to a reduced income tax rate of 15% beginning October 18, 2017, which is valid for three years. In December 2020, Xi’an App-Chem successfully renewed its HNTE Certificate with local government and will continue to enjoy the reduced income tax rate of 15% for another three years by December 1, 2023.
CY2022 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
825899 usd
CY2021 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
514327 usd
CY2020 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
372517 usd
CY2022 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.10
CY2021 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.08
CY2020 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.07
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.250 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Holidays
EffectiveIncomeTaxRateReconciliationTaxHolidays
0.110 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Holidays
EffectiveIncomeTaxRateReconciliationTaxHolidays
0.095 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Holidays
EffectiveIncomeTaxRateReconciliationTaxHolidays
0.100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.005 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.000 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.042 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.034 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.004 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.070 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.025 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.006 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.169 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.151 pure
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.152 pure
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1248013 usd
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
791822 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
564013 usd
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
19012 usd
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
29109 usd
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7751 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1267025 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
820931 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
556262 usd
CY2022Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
257947 usd
CY2021Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
237696 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
255179 usd
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
215354 usd
CY2022Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2768 usd
CY2021Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
22342 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
255179 usd
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
215354 usd
CY2022Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
1239708 usd
CY2021Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
5052018 usd
CY2022 us-gaap Lease Income
LeaseIncome
425 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
26710 usd
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
26710 usd
CY2022Q3 BON Operating Lease Right Of Use Asset Operating Lease Assets
OperatingLeaseRightOfUseAssetOperatingLeaseAssets
546690 usd
CY2021Q3 BON Operating Lease Right Of Use Asset Operating Lease Assets
OperatingLeaseRightOfUseAssetOperatingLeaseAssets
201007 usd
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
546690 usd
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
201007 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
230182 usd
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
62871 usd
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
327202 usd
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
146703 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
557384 usd
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
209574 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
250681 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
242579 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
94955 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
588215 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30831 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
557384 usd
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15500000 shares
CY2020Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-3 shares
CY2020Q2 us-gaap Stock Redeemed Or Called During Period Shares
StockRedeemedOrCalledDuringPeriodShares
10333333 shares
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
15500000 shares
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5166667 shares
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5166667 shares
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
5166667 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8396226 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8396226 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8330000 shares
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8330000 shares
CY2021Q3 us-gaap Minority Interest
MinorityInterest
527865 usd
CY2021Q3 us-gaap Minority Interest
MinorityInterest
527865 usd
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4936 usd
CY2022 BON Foreign Currency Translation Adjustments
ForeignCurrencyTranslationAdjustments
-2309 usd
CY2022Q3 us-gaap Minority Interest
MinorityInterest
530492 usd
CY2022Q3 us-gaap Minority Interest
MinorityInterest
530492 usd
CY2022 BON Statutory Surplus Reserve Description
StatutorySurplusReserveDescription
Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net income determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital
CY2022Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1804116 usd
CY2021Q3 us-gaap Restricted Cash Equivalents
RestrictedCashEquivalents
1050721 usd
CY2022Q3 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
17516406 usd
CY2021Q3 us-gaap Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
AmountOfRestrictedNetAssetsForConsolidatedAndUnconsolidatedSubsidiaries
16591987 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
422221 usd
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
211112 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.01
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.01
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P1Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
1.141 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.711 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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18219959 usd

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