10-Q Filing

AIXIN LIFE INTERNATIONAL, INC. CIK: 835662 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001493152-20-011870`
Period End Date	20200331
Filing Date	20200626
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	aixn-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 80 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, 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 authorized	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.83K	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.82K	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.51K	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$937.00	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$40.15K	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$50.13K	USD	Point-in-time
Advances to suppliers	`Supplies`	$281.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	950.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	950.00M	shares	Point-in-time
Advances to suppliers	`Supplies`	$275.08K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	950.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	340.20M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	340.20M	shares	Point-in-time
Inventory	`InventoryNet`	$32.83K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	340.20M	shares	Point-in-time
Inventory	`InventoryNet`	$49.49K	USD	Point-in-time
Prepayment for acquisition	`PrepaidExpenseCurrent`	$3.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	340.20M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	340.20M	shares	Point-in-time
Prepayment for acquisition	`PrepaidExpenseCurrent`	$4.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	340.20M	shares	Point-in-time
Advances to related party	`DueFromRelatedPartiesCurrent`	$1.28M	USD	Point-in-time
Advances to related party	`DueFromRelatedPartiesCurrent`	$1.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.74M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$90.33K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$104.51K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$173.73K	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
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$42.84K	USD	Point-in-time
Total assets	`Assets`	$6.24M	USD	Point-in-time
Total assets	`Assets`	$6.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.05K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.67K	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	$26.27K	USD	Point-in-time
Unearned revenue	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$97.38K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$58.48K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$636.80K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$647.30K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$146.37K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$143.23K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$927.72K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$900.82K	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$30.50K	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$67.53K	USD	Point-in-time
Total liabilities	`Liabilities`	$995.25K	USD	Point-in-time
Total liabilities	`Liabilities`	$931.32K	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 per share, 950,000,000 shares authorized; 340,198,699 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$3.40K	USD	Point-in-time
Common stock, par value $0.00001 per share, 950,000,000 shares authorized; 340,198,699 shares issued and outstanding as of March 31, 2020 and December 31, 2019	`CommonStockValue`	$3.40K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$10.83M	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`	$-5.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.59M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$57.10K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$151.48K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$5.31M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$5.07M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-3.27M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$6.06M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$6.24M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total revenue, net	`Revenues`	$611.16K	USD	1 Quarter
Total revenue, net	`Revenues`	$90.48K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.20K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$25.45K	USD	1 Quarter
Gross profit	`GrossProfit`	$73.28K	USD	1 Quarter
Gross profit	`GrossProfit`	$585.72K	USD	1 Quarter
Selling	`SellingExpense`	$123.64K	USD	1 Quarter
Selling	`SellingExpense`	$79.71K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$152.35K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$213.59K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$14.51K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$12.53K	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	-	USD	1 Quarter
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$92.89K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$337.48K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$351.73K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$248.23K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-278.45K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	$15.00	USD	1 Quarter
Interest income	`InterestIncomeExpenseNet`	-	USD	1 Quarter
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-33.34K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$444.00	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	-	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$32.00	USD	1 Quarter
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$-32.90K	USD	1 Quarter
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$-17.00	USD	1 Quarter
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$1.17M	USD	Annual
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-311.35K	USD	1 Quarter
Income (loss) before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$248.22K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$248.22K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-311.35K	USD	1 Quarter
Foreign currency translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-80.38K	USD	1 Quarter
Foreign currency translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-94.38K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$153.84K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-391.73K	USD	1 Quarter
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.00	USD	1 Quarter
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.00	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	340.20M	shares	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	287.84M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$248.22K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-311.35K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$40.58K	USD	1 Quarter
Depreciation	`DepreciationAndAmortization`	$12.60K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$14.51K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$12.53K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$92.89K	USD	1 Quarter
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss from disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-33.34K	USD	1 Quarter
Deferred commission	`DeferredCommission`	$14.37K	USD	1 Quarter
Deferred commission	`DeferredCommission`	-	USD	1 Quarter
Deferred travel cost	`DeferredTravelCost`	$9.45K	USD	1 Quarter
Deferred travel cost	`DeferredTravelCost`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$26.11K	USD	1 Quarter
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.98K	USD	1 Quarter
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-9.27K	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$667.00	USD	1 Quarter
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$1.48K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-16.05K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-5.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.00	USD	1 Quarter
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-89.50K	USD	1 Quarter
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$26.66K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-37.81K	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-11.97K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$18.28K	USD	1 Quarter
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$189.00	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$382.07K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-290.87K	USD	1 Quarter
CASH FLOWS FROM INVESTING ACTIVITIES:	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
CASH FLOWS FROM INVESTING ACTIVITIES:	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Capital contribution	`ProceedsFromContributedCapital`	$313.97K	USD	1 Quarter
Capital contribution	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Change in advance from shareholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-30.28K	USD	1 Quarter
Change in advance from shareholder	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-367.75K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-367.75K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$283.69K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-336.00	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGE ON CASH & EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-861.00	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-8.04K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH & EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.98K	USD	1 Quarter
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.22K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.82K	USD	Point-in-time
CASH & EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.22K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.82K	USD	Point-in-time
CASH & EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income tax paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Proceeds from sale of building offset against shareholder loans	`ProceedsFromSaleOfBuildingOffsetAgainstShareholderLoans`	-	USD	1 Quarter
Proceeds from sale of building offset against shareholder loans	`ProceedsFromSaleOfBuildingOffsetAgainstShareholderLoans`	$1.34M	USD	1 Quarter
Right of use asset and related liability	`RightOfUseAssetAndRelatedLiability`	$207.05K	USD	1 Quarter
Right of use asset and related liability	`RightOfUseAssetAndRelatedLiability`	-	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$5.31M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.07M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-3.27M	USD	Point-in-time
Capital contribution by principal shareholder	`AdjustmentToAdditionalPaidInCapitalContributionByPrincipalShareholder`	$313.97K	USD	1 Quarter
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$92.89K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$248.22K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-311.35K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-80.38K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-94.38K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$5.31M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.07M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-3.27M	USD	Point-in-time

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