10-K Filing

AIXIN LIFE INTERNATIONAL, INC. CIK: 835662 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001493152-20-008775`
Period End Date	20191231
Filing Date	20200514
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	aixn-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 44 Cash Flow Statement 68 Stockholders Equity 17

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.83K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.26K	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$36.21K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.51K	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$34.78K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$50.13K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	950.00M	shares	Point-in-time
Advances to suppliers	`Supplies`	$281.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	950.00M	shares	Point-in-time
Advances to suppliers	`Supplies`	$1.59K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	340.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	287.84M	shares	Point-in-time
Deferred commission	`DeferredCostsCurrent`	$338.51K	USD	Point-in-time
Deferred commission	`DeferredCostsCurrent`	-	USD	Point-in-time
Deferred travel cost	`DeferredTravelCostCurrent`	$220.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	340.20M	shares	Point-in-time
Deferred travel cost	`DeferredTravelCostCurrent`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	287.84M	shares	Point-in-time
Inventory	`InventoryNet`	$49.49K	USD	Point-in-time
Inventory	`InventoryNet`	$13.40K	USD	Point-in-time
Prepayments for acquisition	`PrepaidExpenseCurrent`	$4.05M	USD	Point-in-time
Prepayments for acquisition	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	$1.28M	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$655.95K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.74M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$104.51K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.46M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$42.84K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$207.05K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$213.90K	USD	Point-in-time
Total assets	`Assets`	$2.12M	USD	Point-in-time
Total assets	`Assets`	$6.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.93K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.67K	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	$2.19M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$97.38K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$1.22M	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$695.38K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$647.30K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$146.37K	USD	Point-in-time
Advance from shareholder	`DueToOfficersOrStockholdersCurrent`	-	USD	Point-in-time
Advance from shareholder	`DueToOfficersOrStockholdersCurrent`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$927.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.31M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$67.53K	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$995.25K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.31M	USD	Point-in-time
Undesignated preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock, $0.001 par value, 20,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.00001, 950,000,000 shares authorized; 340,198,699 and 287,838,699 shares issued and outstanding as of December 31, 2019 and 2018, respectively	`CommonStockValue`	$3.40K	USD	Point-in-time
Common stock, par value $0.00001, 950,000,000 shares authorized; 340,198,699 and 287,838,699 shares issued and outstanding as of December 31, 2019 and 2018, respectively	`CommonStockValue`	$2.88K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.40M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$10.74M	USD	Point-in-time
Statutory reserve	`StatutoryReserves`	$11.72K	USD	Point-in-time
Statutory reserve	`StatutoryReserves`	$11.72K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.84M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$151.48K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$135.58K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$5.07M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.07M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$6.06M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$2.12M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total revenue, net	`Revenues`	$414.28K	USD	Annual
Total revenue, net	`Revenues`	$3.42M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$159.17K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$388.92K	USD	Annual
Gross profit	`GrossProfit`	$3.03M	USD	Annual
Gross profit	`GrossProfit`	$255.12K	USD	Annual
Selling	`SellingExpense`	$1.02M	USD	Annual
Selling	`SellingExpense`	$499.53K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.04M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$48.88K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$57.14K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$70.41K	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.27M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.60M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$759.93K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-1.34M	USD	Annual
Interest income	`InterestIncomeExpenseNet`	-	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$262.00	USD	Annual
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-32.58K	USD	Annual
Tax payable adjustment	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$1.17M	USD	Annual
Tax payable adjustment	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	-	USD	Annual
Other income	`OtherNonoperatingIncome`	$290.00	USD	Annual
Other income	`OtherNonoperatingIncome`	$1.33K	USD	Annual
Other expense	`OtherNonoperatingExpense`	$1.79K	USD	Annual
Other expense	`OtherNonoperatingExpense`	$9.30K	USD	Annual
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$1.13M	USD	Annual
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$-7.97K	USD	Annual
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.89M	USD	Annual
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.35M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.35M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.89M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$15.90K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$205.73K	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$1.91M	USD	Annual
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.14M	USD	Annual
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	Annual
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	297.77M	shares	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	289.00M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.35M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.89M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$165.78K	USD	Annual
Depreciation	`DepreciationAndAmortization`	$78.52K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$48.88K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$57.14K	USD	Annual
Recovery of inventory	`InventoryWriteDown`	-	USD	Annual
Recovery of inventory	`InventoryWriteDown`	$-14.79K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$70.41K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	-	USD	Annual
Tax payable adjustment	`IncomeTaxCreditsAndAdjustments`	$-1.17M	USD	Annual
Tax payable adjustment	`IncomeTaxCreditsAndAdjustments`	-	USD	Annual
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-32.58K	USD	Annual
Deferred commission	`DeferredCommission`	$62.93K	USD	Annual
Deferred commission	`DeferredCommission`	$337.80K	USD	Annual
Deferred travel cost	`DeferredTravelCost`	$219.74K	USD	Annual
Deferred travel cost	`DeferredTravelCost`	$43.27K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$63.04K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$26.36K	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$14.59K	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.81K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$-281.87K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$737.00	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-48.94K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$36.50K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.48K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.89K	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.18M	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-368.12K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$46.59K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$4.55K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$130.01K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-41.69K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.03M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.31M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.90K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.35K	USD	Annual
Prepayments for acquisition	`PaymentsForPreviousAcquisition`	$4.09M	USD	Annual
Prepayments for acquisition	`PaymentsForPreviousAcquisition`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.14M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.35K	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$6.28M	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$1.02M	USD	Annual
Change in advance from shareholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$228.69K	USD	Annual
Change in advance from shareholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-1.16M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.25M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.12M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$35.05K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$51.05K	USD	Annual
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-26.37K	USD	Annual
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.43K	USD	Annual
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$37.63K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$37.63K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income tax paid	`IncomeTaxesPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Proceeds from sale of building offset against shareholder loans	`ProceedsFromSaleOfBuildingOffsetAgainstShareholderLoans`	-	USD	Annual
Proceeds from sale of building offset against shareholder loans	`ProceedsFromSaleOfBuildingOffsetAgainstShareholderLoans`	$1.30M	USD	Annual
Right of use asset and related liability	`RightOfUseAssetAndRelatedLiability`	-	USD	Annual
Right of use asset and related liability	`RightOfUseAssetAndRelatedLiability`	$201.17K	USD	Annual
Lease liability paid by shareholder	`LeaseLiabilityPaidByShareholder`	$17.46K	USD	Annual
Lease liability paid by shareholder	`LeaseLiabilityPaidByShareholder`	-	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$5.07M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-3.07M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Cancellation of stock issued for services	`CancellationOfStockIssuedForServices`	-	USD	Annual
Capital contribution by principal shareholder	`AdjustmentToAdditionalPaidInCapitalContributionByPrincipalShareholder`	$1.02M	USD	Annual
Capital contribution by principal shareholder	`AdjustmentToAdditionalPaidInCapitalContributionByPrincipalShareholder`	$1.28M	USD	Annual
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$5.00M	USD	Annual
Issuance of shares, shares	`StockIssuedDuringPeriodSharesNewIssues`	4.00M	shares	Point-in-time
Issuance of shares, shares	`StockIssuedDuringPeriodSharesNewIssues`	10.00M	shares	Point-in-time
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$70.41K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.35M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$1.89M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$15.90K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$205.73K	USD	Annual
Ending balance	`StockholdersEquity`	$5.07M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-3.07M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.