10-K Filing

AIXIN LIFE INTERNATIONAL, INC. CIK: 835662 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001493152-22-010029`
Period End Date	20211231
Filing Date	20220415
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 40 Cash Flow Statement 66 Stockholders Equity 16

Balance Sheet 83 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`	$8.56M	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.68M	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	-	USD	Point-in-time
Restricted cash	`RestrictedCash`	$44.21K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$45.92K	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$32.32K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other receivables and prepaid expenses	`PrepaidExpenseAndOtherAssetsCurrent`	$143.28K	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
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50.00M	shares	Point-in-time
Advances to suppliers	`Supplies`	$162.97K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50.00M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$45.53K	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	50.00M	shares	Point-in-time
Inventory	`InventoryNet`	$233.45K	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	$19.05K	USD	Point-in-time
Advances to related parties	`DueFromRelatedPartiesCurrent`	$15.74K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.93M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$290.15K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$67.82K	USD	Point-in-time
Intangible asset, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Intangible asset, net	`IntangibleAssetsNetExcludingGoodwill`	$1.94K	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	-	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$18.80K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$94.15K	USD	Point-in-time
Security deposit	`SecurityDeposit`	-	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$207.05K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	1.39M	CNY	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$100.03K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.05M	USD	Point-in-time
Total assets	`Assets`	$11.66M	USD	Point-in-time
Total assets	`Assets`	$8.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$406.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.12K	USD	Point-in-time
Unearned revenue	`DeferredRevenue`	-	USD	Point-in-time
Unearned revenue	`DeferredRevenue`	$171.41K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$232.64K	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$283.50K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$752.40K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$514.24K	USD	Point-in-time
Loan from third parties	`ShortTermNonBankLoansAndNotesPayable`	$94.15K	USD	Point-in-time
Loan from third parties	`ShortTermNonBankLoansAndNotesPayable`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$848.23K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$70.78K	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$1.95M	USD	Point-in-time
Advance from related parties	`DueToRelatedPartiesCurrent`	$264.85K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.17M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$1.14M	USD	Point-in-time
Operating lease liabilities - non-current	`OperatingLeaseLiabilityNoncurrent`	$29.25K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.20M	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 shares issued and outstanding as of December 31, 2021 and 2020	`CommonStockValue`	$500.00	USD	Point-in-time
Common stock, par value $0.00001 per share, 500,000,000 shares authorized; 49,999,891 shares issued and outstanding as of December 31, 2021 and 2020	`CommonStockValue`	$500.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$14.09M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$11.12M	USD	Point-in-time
Statutory reserve	`StatutoryReserves`	$151.99K	USD	Point-in-time
Statutory reserve	`StatutoryReserves`	$151.99K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-4.96M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$710.82K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$588.54K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$5.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.89M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$8.09M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$11.66M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Total revenue, net	`Revenues`	$2.45M	USD	Annual
Total revenue, net	`Revenues`	$3.07M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServiceSold`	$535.49K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServiceSold`	$224.68K	USD	Annual
Hotel operating costs	`HotelOperatingCosts`	-	USD	Annual
Hotel operating costs	`HotelOperatingCosts`	$744.59K	USD	Annual
Selling	`SellingExpense`	$244.20K	USD	Annual
Selling	`SellingExpense`	$470.80K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$802.56K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.03M	USD	Annual
(Reversal of) provision for bad debts	`ReversalOfProvisionForBadDebts`	$13.62K	USD	Annual
(Reversal of) provision for bad debts	`ReversalOfProvisionForBadDebts`	$-63.08K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$371.54K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$371.54K	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$3.09M	USD	Annual
Total operating costs and expenses	`OperatingExpenses`	$1.66M	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$-26.94K	USD	Annual
(Loss) income from operations	`OperatingIncomeLoss`	$794.46K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$4.11K	USD	Annual
Interest income	`InterestIncomeExpenseNet`	$537.58K	USD	Annual
Other income	`OtherNonoperatingIncome`	$28.92K	USD	Annual
Other income	`OtherNonoperatingIncome`	$63.06K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$3.33K	USD	Annual
Other expenses	`OtherNonoperatingExpense`	$33.15K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$563.18K	USD	Annual
Total non-operating income, net	`NonoperatingIncomeExpense`	$34.02K	USD	Annual
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.08K	USD	Annual
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.36M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$340.13K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$274.32K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$-267.24K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$1.02M	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$437.06K	USD	Annual
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$122.28K	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$1.45M	USD	Annual
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-144.95K	USD	Annual
(Loss) income per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
(Loss) income per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	65.61M	shares	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.00M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-267.24K	USD	Annual
Net (loss) income	`NetIncomeLoss`	$1.02M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$43.46K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$96.11K	USD	Annual
Provision for bad debt allowance	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Provision for bad debt allowance	`ProvisionForDoubtfulAccounts`	$13.62K	USD	Annual
Operating lease expense	`OperatingLeaseExpense`	$411.61K	USD	Annual
Operating lease expense	`OperatingLeaseExpense`	$151.73K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$371.54K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$371.54K	USD	Annual
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	-	USD	Annual
Deferred tax	`DeferredIncomeTaxExpenseBenefit`	$-18.57K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.73K	USD	Annual
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-13.62K	USD	Annual
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	-	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.00K	USD	Annual
Other receivables and prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-94.99K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$136.48K	USD	Annual
Advances to suppliers	`IncreaseDecreaseInDueToRelatedParties`	$1.37K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-69.74K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-6.87K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-27.34K	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-122.90K	USD	Annual
Unearned revenue	`IncreaseDecreaseInContractWithCustomerLiability`	-	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-57.47K	USD	Annual
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$169.73K	USD	Annual
Payment of operating lease liabilities	`OperatingLeasePayments`	$473.51K	USD	Annual
Payment of operating lease liabilities	`OperatingLeasePayments`	$151.73K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-142.03K	USD	Annual
Accrued liabilities and other payables	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-166.01K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.61M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-57.80K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.17K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.34K	USD	Annual
Cash acquired at acquisition of subsidiaries	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash acquired at acquisition of subsidiaries	`CashAcquiredFromAcquisition`	$87.45K	USD	Annual
Return of (payment for) acquisition	`ReturnOfPrepaymentForAcquisition`	$4.09M	USD	Annual
Return of (payment for) acquisition	`ReturnOfPrepaymentForAcquisition`	$-4.52M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.09M	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.43M	USD	Annual
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	$1.55M	USD	Annual
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	$1.20M	USD	Annual
Repayment of loan from third parties	`RepaymentsOfRelatedPartyDebt`	$368.65K	USD	Annual
Repayment of loan from third parties	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	$4.39M	USD	Annual
Capital contribution	`ProceedsFromContributedCapital`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.55M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.22M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$191.62K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$421.56K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$924.16K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.67M	USD	Annual
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.68M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$8.60M	USD	Point-in-time
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83K	USD	Point-in-time
Income tax paid	`IncomeTaxesPaidNet`	$404.28K	USD	Annual
Income tax paid	`IncomeTaxesPaidNet`	$149.39K	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Capital contribution from forgiveness of related party loan	`CapitalContributionFromForgivenessOfRelatedPartyLoan`	$2.45M	USD	Annual
Capital contribution from forgiveness of related party loan	`CapitalContributionFromForgivenessOfRelatedPartyLoan`	-	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$5.07M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$6.07M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$6.89M	USD	Point-in-time
Cancellation of shares	`SharesCancelledDuringThePeriodValue`	-	USD	Annual
Statutory reserve	`StockIssuedDuringPeriodStatutoryReserve`	-	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$371.54K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$371.54K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-267.24K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$1.02M	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$437.06K	USD	Annual
Foreign currency translation	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$122.28K	USD	Annual
Acquisition of subsidiaries	`AcquisitionOfSubsidiaries`	$-7.96M	USD	Annual
Debt forgiven by major shareholder	`DebtInstrumentDecreaseForgiveness`	$6.91M	USD	Annual
Ending balance, value	`StockholdersEquity`	$5.07M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$6.07M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$6.89M	USD	Point-in-time

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