10-K Filing

AIXIN LIFE INTERNATIONAL, INC. CIK: 835662 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001493152-21-007578`
Period End Date	20201231
Filing Date	20210401
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	aixn-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 44 Cash Flow Statement 68 Stockholders Equity 18

Balance Sheet 73 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	-	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
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.51K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$32.32K	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, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Advances to suppliers	`Supplies`	$155.69K	USD	Point-in-time
Advances to suppliers	`Supplies`	$281.27K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	85.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$45.53K	USD	Point-in-time
Inventory	`InventoryNet`	$49.49K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	85.05M	shares	Point-in-time
Prepayment for acquisition	`OtherPrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50.00M	shares	Point-in-time
Prepayment for acquisition	`OtherPrepaidExpenseCurrent`	$4.05M	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	$1.28M	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	$15.74K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.93M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$104.51K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$67.82K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$213.90K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$207.05K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$42.84K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$100.03K	USD	Point-in-time
Total assets	`Assets`	$6.06M	USD	Point-in-time
Total assets	`Assets`	$8.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.67K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.12K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$97.38K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$283.50K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$647.30K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$514.24K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$70.78K	USD	Point-in-time
Operating lease liabilities - current	`OperatingLeaseLiabilityCurrent`	$146.37K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$264.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$927.72K	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$67.53K	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$29.25K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$995.25K	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, 500,000,000 shares authorized; 49,999,891 and 85,049,576 shares issued and outstanding as of December 31, 2020 and 2019, respectively	`CommonStockValue`	$500.00	USD	Point-in-time
Common stock, par value $0.00001 per share, 500,000,000 shares authorized; 49,999,891 and 85,049,576 shares issued and outstanding as of December 31, 2020 and 2019, respectively	`CommonStockValue`	$850.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$11.12M	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`	$151.99K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.96M	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`	$588.54K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$5.07M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.09M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total revenue, net	`Revenues`	$3.42M	USD	Annual
Total revenue, net	`Revenues`	$2.45M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$224.68K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$388.92K	USD	Annual
Gross profit	`GrossProfit`	$2.23M	USD	Annual
Gross profit	`GrossProfit`	$3.03M	USD	Annual
Selling	`SellingExpense`	$244.20K	USD	Annual
Selling	`SellingExpense`	$1.02M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.13M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$802.56K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$48.88K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$13.62K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$371.54K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$70.41K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.43M	USD	Annual
Total operating expenses	`OperatingExpenses`	$2.27M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$759.93K	USD	Annual
Income from operations	`OperatingIncomeLoss`	$794.46K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$537.58K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$262.00	USD	Annual
Loss from disposal of building	`GainLossOnDispositionOfAssets1`	$-32.58K	USD	Annual
Loss from disposal of building	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Tax payable adjustment	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	-	USD	Annual
Tax payable adjustment	`IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability`	$1.17M	USD	Annual
Other income	`OtherNonoperatingIncome`	$290.00	USD	Annual
Other income	`OtherNonoperatingIncome`	$28.92K	USD	Annual
Other expense	`OtherNonoperatingExpense`	$1.79K	USD	Annual
Other expense	`OtherNonoperatingExpense`	$3.33K	USD	Annual
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$563.18K	USD	Annual
Total non-operating income (expenses), net	`NonoperatingIncomeExpense`	$1.13M	USD	Annual
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.36M	USD	Annual
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.89M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$340.13K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	-	USD	Annual
Net income	`NetIncomeLoss`	$1.89M	USD	Annual
Net income	`NetIncomeLoss`	$1.02M	USD	Annual
Foreign currency translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$15.90K	USD	Annual
Foreign currency translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$437.06K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.45M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.91M	USD	Annual
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	Annual
Income (loss) per share - Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.03	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	65.61M	shares	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	74.44M	shares	Annual

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.89M	USD	Annual
Net income	`NetIncomeLoss`	$1.02M	USD	Annual
Depreciation	`DepreciationAndAmortization`	$78.52K	USD	Annual
Depreciation	`DepreciationAndAmortization`	$43.46K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$48.88K	USD	Annual
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$13.62K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$70.41K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$371.54K	USD	Annual
Tax payable adjustment	`IncomeTaxCreditsAndAdjustments`	-	USD	Annual
Tax payable adjustment	`IncomeTaxCreditsAndAdjustments`	$-1.17M	USD	Annual
Loss from disposal of building	`GainLossOnDispositionOfAssets1`	$-32.58K	USD	Annual
Loss from disposal of building	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Deferred commission	`DeferredCommission`	$337.80K	USD	Annual
Deferred commission	`DeferredCommission`	-	USD	Annual
Deferred travel cost	`DeferredTravelCost`	-	USD	Annual
Deferred travel cost	`DeferredTravelCost`	$219.74K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$26.36K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.00K	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.81K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$-281.87K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$136.48K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-6.87K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$36.50K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.89K	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.18M	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$169.73K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$46.59K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-166.01K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-41.69K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.61M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.03M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.90K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.17K	USD	Annual
Advances to related parties for acquisition	`PaymentsToAcquireBusinessesGross`	$4.09M	USD	Annual
Advances to related parties for acquisition	`PaymentsToAcquireBusinessesGross`	-	USD	Annual
Return of prepayment for acquisition	`PaymentsForProceedsFromPreviousAcquisition`	$-4.09M	USD	Annual
Return of prepayment for acquisition	`PaymentsForProceedsFromPreviousAcquisition`	-	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.14M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.09M	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$6.28M	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	-	USD	Annual
Change in advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$1.55M	USD	Annual
Change in advance from related parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-1.16M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.12M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.55M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$51.05K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$421.56K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.67M	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.43K	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.26K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income tax paid	`IncomeTaxesPaidNet`	$149.39K	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 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$6.89M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$5.07M	USD	Point-in-time
Capital contribution by principal shareholder	`AdjustmentToAdditionalPaidInCapitalContributionByPrincipalShareholder`	$1.28M	USD	Annual
Issuance of shares	`StockIssuedDuringPeriodValueNewIssues`	$5.00M	USD	Annual
Issuance of shares, shares	`StockIssuedDuringPeriodSharesNewIssues`	2.50M	shares	Point-in-time
Issuance of shares, shares	`StockIssuedDuringPeriodSharesNewIssues`	10.00M	shares	Point-in-time
Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$70.41K	USD	Annual
Cancellation of shares	`SharesCancelledDuringThePeriodValue`	-	USD	Annual
Statutory reserve	`StockholdersEquityStatutoryReserve`	-	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$371.54K	USD	Annual
Net income	`NetIncomeLoss`	$1.89M	USD	Annual
Net income	`NetIncomeLoss`	$1.02M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$15.90K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$437.06K	USD	Annual
Ending balance	`StockholdersEquity`	$-3.19M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$6.89M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.07M	USD	Point-in-time

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