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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sunwin Stevia International Inc (CE) | USOTC:SUWN | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0003 | 0.00 | 01:00:00 |
NEVADA
|
56-2416925
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
6 SHENGWANG AVE., QUFU, SHANDONG, CHINA
|
273100
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
Trading Symbol (s)
|
Name of each exchange on which registered
|
None
|
SUWN
|
Not applicable
|
Large accelerated filer [ ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ]
|
Smaller reporting company [X]
|
Emerging growth company [ ]
|
|
|
Page
|
PART I-FINANCIAL INFORMATION
|
|
Item 1. Financial Statements
|
1
|
|
|
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
|
18
|
|
|
Item 3. Quantitative and Qualitative Disclosures About Market Risk
|
27
|
|
|
Item 4. Controls and Procedures
|
27
|
|
|
PART II-OTHER INFORMATION
|
|
Item 1. Legal Proceedings
|
28
|
|
|
Item 1A. Risk Factors
|
28
|
|
|
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
|
28
|
|
|
Item 3. Defaults Upon Senior Securities
|
28
|
|
|
Item 4. Mine Safety Disclosures
|
28
|
|
|
Item 5. Other Information
|
29
|
|
|
Item 6. Exhibits
|
29
|
When used in this report, the terms:
|
|||
|
-
|
|
"Sunwin", "we", "us" and the "Company" refers to Sunwin Stevia International, Inc., a Nevada corporation formerly known as Sunwin Nutraceuticals International, Inc., and our subsidiaries;
|
|
-
|
|
"Sunwin Tech" refers to our wholly owned subsidiary Sunwin Tech Group, Inc., a Florida corporation, which was closed on April 30, 2018 and all of its assets and liabilities were transferred to the Company;
|
|
-
|
|
"Qufu Natural Green" refers to our wholly owned subsidiary Qufu Natural Green Engineering Co., Ltd., a Chinese limited liability company;
|
|
-
|
|
"Sunwin USA" refers to Sunwin USA, LLC, a Delaware limited liability company, a 100% owned subsidiary of Sunwin. Sunwin USA was previously Sunwin Stevia International Corp., a Florida corporation, it changed
its name to Sunwin USA in May 2009;
|
|
-
|
|
"Qufu Shengwang" refers to Qufu Shengwang Stevia Biology and Science Co., Ltd., a Chinese limited liability company. Qufu Natural Green owns a 100% interest in Qufu Shengwang. On July 30, 2019, Qufu Natural
Green sold its 100% interest of Qufu Shengwang to a third party;
|
|
-
|
|
"Qufu Shengren" refers to Qufu Shengren Pharmaceutical Co., Ltd., a Chinese limited liability company, and a 100% owned subsidiary of Qufu Natural Green. On April 30, 2020, the Company increased the total
amount of capital of Qufu Sheng through a series of debt transfer and conversion agreements with investors, ownership of Qufu Natural Green became 61%; and
|
|
-
|
|
“Qufu Shengren Import and Export" refers to Qufu Shengren Import and Export Co., Ltd., a Chinese limited liability company, a 100% owned subsidiary of Qufu Shengren.
|
|
|
|
|
We also use the following terms when referring to certain related parties:
|
|||
|
-
|
|
Mr. Laiwang Zhang, Chairman and a principal shareholder of our Company;
|
|
-
|
|
"Pharmaceutical Corporation" refers to Shandong Shengwang Pharmaceutical Co., Ltd., a Chinese limited liability company which is controlled by Mr. Laiwang Zhang;
|
|
-
|
|
"Qufu Shengwang Import and Export" refers to Qufu Shengwang Import and Export Co., Ltd., a Chinese limited liability company, controlled by Mr. Zhang; and
|
|
-
|
|
Mr. Weidong Chai, a management member of Qufu Shengren Pharmaceutical Co., Ltd.
|
SUNWIN STEVIA INTERNATIONAL, INC. AND SUBSIDIARIES
|
||||||||||||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
|
||||||||||||||||||||||||||||
(UNAUDITED)
|
||||||||||||||||||||||||||||
Three Months Ended October 31, 2020
|
||||||||||||||||||||||||||||
|
Number of Shares
|
Amount of Common Shares
|
Additional Paid-in Capital
|
Accumulated Deficit
|
Accumulated Other Comprehensive Income
|
Noncontrolling Interest
|
Total Stockholders' Equity
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Balance, July 31, 2020
|
199,632,803
|
$
|
199,633
|
$
|
47,732,350
|
$
|
(40,780,993
|
)
|
$
|
4,640,545
|
$
|
(344,699
|
)
|
$
|
11,446,836
|
|||||||||||||
Net loss for the three months ended October 31, 2020
|
-
|
-
|
-
|
(403,380
|
)
|
-
|
(255,071
|
)
|
(658,451
|
)
|
||||||||||||||||||
Foreign currency translation adjustment
|
-
|
-
|
-
|
-
|
346,380
|
203,417
|
549,797
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Balance, October 31, 2020
|
199,632,803
|
$
|
199,633
|
$
|
47,732,350
|
$
|
(41,184,373
|
)
|
$
|
4,986,925
|
$
|
(396,353
|
)
|
$
|
11,338,182
|
Six Months Ended October 31, 2020
|
||||||||||||||||||||||||||||
|
Number of Shares
|
Amount of Common Shares
|
Additional Paid-in Capital
|
Accumulated Deficit
|
Accumulated Other Comprehensive Income
|
Noncontrolling Interest
|
Total Stockholders' Equity
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Balance, April 30, 2020
|
199,632,803
|
$
|
199,633
|
$
|
47,732,350
|
$
|
(40,118,394
|
)
|
$
|
4,557,898
|
$
|
-
|
$
|
12,371,487
|
||||||||||||||
Net loss for the six months ended October 31, 2020
|
-
|
-
|
-
|
(1,065,979
|
)
|
-
|
(648,299
|
)
|
(1,714,278
|
)
|
||||||||||||||||||
Foreign currency translation adjustment
|
-
|
-
|
-
|
-
|
429,027
|
251,946
|
680,973
|
|||||||||||||||||||||
|
||||||||||||||||||||||||||||
Balance, October 31, 2020
|
199,632,803
|
$
|
199,633
|
$
|
47,732,350
|
$
|
(41,184,373
|
)
|
$
|
4,986,925
|
$
|
(396,353
|
)
|
$
|
11,338,182
|
Three Months Ended October 31, 2019
|
||||||||||||||||||||||||
|
Number of Shares
|
Amount of Common Shares
|
Additional Paid-in Capital
|
Accumulated Deficit
|
Accumulated Other Comprehensive Income
|
Total Stockholders' Equity
|
||||||||||||||||||
|
||||||||||||||||||||||||
Balance, July 31, 2019
|
199,632,803
|
$
|
199,633
|
$
|
37,681,279
|
$
|
(38,886,491
|
)
|
$
|
4,427,940
|
$
|
3,422,361
|
||||||||||||
Net income for the three months ended October 31, 2019
|
-
|
-
|
-
|
191,891
|
-
|
191,891
|
||||||||||||||||||
Foreign currency translation adjustment
|
-
|
-
|
-
|
-
|
(106,388
|
)
|
(106,388
|
)
|
||||||||||||||||
|
||||||||||||||||||||||||
Balance, October 31, 2019
|
199,632,803
|
$
|
199,633
|
$
|
37,681,279
|
$
|
(38,694,600
|
)
|
$
|
4,321,552
|
$
|
3,507,864
|
|
-
|
|
Stevioside; and
|
|
-
|
|
Corporate and other.
|
Level 1:
|
Observable inputs such as quoted market prices in active markets for identical assets or liabilities
|
Level 2:
|
Observable market-based inputs or unobservable inputs that are corroborated by market data
|
Level 3:
|
Unobservable inputs for which there is little or no market data, which require the use of the reporting entity's own assumptions.
|
|
•
|
Identify the contract with a customer;
|
|
|
•
|
Identify the performance obligations in the contract;
|
|
|
•
|
Determine the transaction price;
|
|
|
•
|
Allocate the transaction price to the performance obligations in the contract; and
|
|
|
•
|
Recognize revenue when (or as) the entity satisfies a performance obligation.
|
|
|
Three Months Ended
October 31,
|
Six Months Ended
October 31,
|
||||||||||||||
Numerator:
|
||||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
Net income (loss) attributable to Sunwin Stevia International, Inc.
|
$
|
(403,380
|
)
|
$
|
191,891
|
$
|
(1,065,979
|
)
|
$
|
(191,344
|
)
|
|||||
Net income (loss) from continuing operations
|
$
|
(403,380
|
)
|
$
|
191,891
|
$
|
(1,065,979
|
)
|
$
|
62,087
|
||||||
Net loss from discontinued operation
|
-
|
-
|
-
|
(253,431
|
)
|
|||||||||||
Denominator:
|
||||||||||||||||
Denominator for basic earnings per share - weighted average number of common shares outstanding
|
199,632,803
|
199,632,803
|
199,632,803
|
199,632,803
|
||||||||||||
Stock awards, options, and warrants
|
-
|
-
|
-
|
-
|
||||||||||||
Denominator for diluted earnings per share - adjusted weighted average outstanding average number of common shares outstanding
|
199,632,803
|
182,066,546
|
199,632,803
|
199,632,803
|
||||||||||||
Basic and diluted loss per common share:
|
||||||||||||||||
Net income (loss) from continuing operations - basic and diluted
|
$
|
(0.00
|
)
|
$
|
0.00
|
$
|
(0.01
|
)
|
$
|
0.00
|
||||||
Net loss from discontinued operations - basic and diluted
|
-
|
-
|
-
|
(0.00
|
)
|
|||||||||||
Net income (loss) per common share - basic and diluted
|
$
|
(0.00
|
)
|
$
|
0.00
|
$
|
(0.01
|
)
|
$
|
(0.00
|
)
|
As of October 31, 2020
|
RMB 6.68 to $1.00
|
As of April 30, 2020
|
RMB 7.05 to $1.00
|
|
|
Six months ended October 31, 2020
|
RMB 6.94 to $1.00
|
Six months ended October 31, 2019
|
RMB 6.99 to $1.00
|
|
Three Months Ended October 31,
|
Six Months Ended October 31,
|
||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
|
||||||||||||||||
Revenues
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
733,441
|
||||||||
Cost of revenues
|
-
|
-
|
-
|
572,357
|
||||||||||||
Gross profit
|
-
|
-
|
-
|
161,084
|
||||||||||||
Operating expenses
|
-
|
-
|
-
|
172,142
|
||||||||||||
Other income, net
|
-
|
-
|
-
|
8,958
|
||||||||||||
Loss before income taxes
|
-
|
-
|
-
|
20,016
|
||||||||||||
Income tax expense
|
-
|
-
|
-
|
-
|
||||||||||||
Loss from discontinued operations
|
-
|
-
|
-
|
20,016
|
||||||||||||
Loss from disposal, net of taxes
|
-
|
-
|
-
|
960
|
||||||||||||
Loss from sales of subsidiary
|
-
|
-
|
-
|
232,455
|
||||||||||||
Total loss from discontinued operations
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
253,431
|
|
October 31, 2020
|
April 30, 2020
|
||||||
|
(unaudited)
|
|||||||
Raw materials
|
$
|
3,722,426
|
$
|
4,676,361
|
||||
Work in process
|
5,303,804
|
3,235,156
|
||||||
Finished goods
|
6,302,651
|
4,962,980
|
||||||
|
15,328,881
|
12,874,497
|
||||||
Less: reserve for obsolete inventory
|
-
|
-
|
||||||
Total inventories, net
|
$
|
15,328,881
|
$
|
12,874,497
|
|
October 31, 2020
|
April 30, 2020
|
|||||||
Estimated Life
|
(unaudited)
|
||||||||
Office equipment
|
3-15 Years
|
$
|
478,408
|
$
|
394,019
|
||||
Auto and trucks
|
2-10 Years
|
618,634
|
586,364
|
||||||
Manufacturing equipment
|
2-15 Years
|
7,203,540
|
6,559,726
|
||||||
Buildings
|
5-30 Years
|
9,788,820
|
9,248,227
|
||||||
Construction in process
|
|
16,411
|
7,834
|
||||||
|
|
18,105,813
|
16,796,170
|
||||||
Less: accumulated depreciation
|
|
(8,980,217
|
)
|
(7,894,622
|
)
|
||||
Total property and equipment, net
|
|
$
|
9,125,596
|
$
|
8,901,548
|
|
Shandong Shengwang Pharmaceutical
Co., Ltd.
|
Qufu
Shengwang
Import and Export Co., Ltd.
|
Mr. Wedong Chai
|
Total
|
||||||||||||
Balance due to related parties, April 30, 2020
|
$
|
3,981,915
|
$
|
906,879
|
$
|
183,657
|
$
|
5,072,451
|
||||||||
Working capital advances from related parties
|
289,875
|
7,237,415
|
11,226
|
7,538,516
|
||||||||||||
Repayments
|
(1,042,920
|
)
|
(6,711,603
|
)
|
(720
|
)
|
(7,755,243
|
)
|
||||||||
Effect of foreign currency exchange
|
189,623
|
38,396
|
10,518
|
238,537
|
||||||||||||
Balance due to related parties, October 31, 2020
|
$
|
3,418,493
|
$
|
1,471,087
|
$
|
204,681
|
$
|
5,094,261
|
Account
|
October 31,
2020
|
April 30,
2020
|
||||||
|
(unaudited)
|
|||||||
Accounts payable
|
$
|
7,206,899
|
$
|
6,443,200
|
||||
Advanced from customers
|
388,835
|
172,512
|
||||||
Accrued salary payable
|
105,755
|
142,199
|
||||||
Tax payable
|
189,390
|
266,708
|
||||||
Other payable*
|
2,149,696
|
1,508,512
|
||||||
Total accounts payable and accrued expenses
|
$
|
10,040,575
|
$
|
8,533,131
|
|
October 31,
2020
|
April 30,
2020
|
||||||
|
(unaudited)
|
|||||||
Loan from Min Wu, an employee of Qufu Shengren, due on October 5, 2021, with an annual interest rate of 10%, renewed at October 6, 2020.
|
$
|
32,928
|
$
|
31,210
|
||||
Loans from Jianjun Yan, non-related individual, due on October 6, 2021, with an annual interest rate of 10%, renewed at on October 7, 2020.
|
1,458,289
|
1,256,562
|
||||||
Loan from Jianjun Yan, non-related individual, due on March 31, 2021, with annual interest rate of 4%, renewed at April 1, 2020, and partially repaid approximately $504,000 in July 2020.
|
745,319
|
1,202,965
|
||||||
Loan from Junzhen Zhang, non-related individual, due on October 5, 2021, with an annual interest rate of 10%, renewed at October 6, 2020, and accrued interest converted into debt principal.
|
26,342
|
22,698
|
||||||
Loan from Jian Chen, non-related individual, due on January 27, 2021 and April 11, 2021, bearing an annual interest rate of 10%, with the principal amount of RMB770,000 ($109,236) and RMB440,000 ($62,420), renewed on January 27, 2020 and
April 11, 2020, respectively. The Company repaid off these loans and accrued interest to him in July 2020.
|
-
|
171,656
|
||||||
Loan from Qing Kong, non-related individual, due on March 6, 2021, with an annual interest rate of 10%, renewed on March 7, 2020.
|
86,809
|
82,281
|
||||||
Loan from Qing Kong, non-related individual, due on January 8, 2021, with an annual interest rate of 10%, renewed on January 9, 2020.
|
36,220
|
34,331
|
||||||
Loan from Guihai Chen, non-related individual, due on March 9, 2021, with an annual interest rate of 10%, renewed on March 10, 2020.
|
21,702
|
20,570
|
||||||
Loan from Guihai Chen, non-related individual, due on September 20, 2021, with an annual interest rate of 10%, renewed at September 21, 2020, and accrued interest converted into debt principal.
|
36,220
|
31,210
|
||||||
Loan Weifeng Kong, non-related individual, due on November 28, 2020, with an annual interest rate of 10%, renewed on November 29, 2019. (see more on Note 15)
|
29,934
|
28,373
|
||||||
Loan from Huagui Yong, non-related individual, due on April 8, 2021, with an annual interest rate of 6.3% at April 9, 2020.
|
74,836
|
70,932
|
||||||
Loan from Guohui Zhang, non-related individual, due on January 16, 2021, with an annual interest rate of 4% at January 17, 2020.
|
449,014
|
425,592
|
||||||
Total short-term loan payable
|
$
|
2,997,613
|
$
|
3,378,380
|
|
Three Months Ended October 31,
|
Six Months Ended October 31,
|
||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
Revenues:
|
||||||||||||||||
Stevioside - third parties
|
$
|
3,830,340
|
4,768,613
|
9,020,803
|
9,296,279
|
|||||||||||
Stevioside - related parties
|
502,695
|
2,314,666
|
2,254,518
|
4,098,559
|
||||||||||||
Total Stevioside
|
4,333,035
|
7,083,279
|
11,275,321
|
13,394,838
|
||||||||||||
|
||||||||||||||||
Corporate and other – third party
|
100,809
|
78,302
|
198,201
|
656,818
|
||||||||||||
Corporate and other – related party
|
-
|
-
|
-
|
-
|
||||||||||||
Total Corporate and other
|
100,809
|
78,302
|
198,201
|
656,818
|
||||||||||||
Total segment and consolidated revenues
|
$
|
4,433,844
|
7,161,581
|
11,473,522
|
14,051,656
|
|
Three Months Ended October 31,
|
Six Months Ended October 31,
|
||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
Interest (expense) income:
|
||||||||||||||||
Stevioside
|
$
|
(52,018
|
)
|
$
|
(120,734
|
)
|
$
|
(131,125
|
)
|
$
|
(301,178
|
)
|
||||
Corporate and other
|
-
|
-
|
-
|
-
|
||||||||||||
Total segment and consolidated interest expense
|
$
|
(52,018
|
)
|
$
|
(120,734
|
)
|
$
|
(131,125
|
)
|
$
|
(301,178
|
)
|
||||
Depreciation and amortization:
|
||||||||||||||||
Stevioside
|
$
|
266,078
|
$
|
253,500
|
$
|
519,854
|
$
|
487,523
|
||||||||
Corporate and other
|
56,042
|
43,857
|
106,706
|
80,822
|
||||||||||||
Total segment and consolidated depreciation and amortization
|
$
|
322,120
|
$
|
297,357
|
$
|
626,560
|
$
|
568,345
|
||||||||
Income (loss) from continuing operations before income taxes:
|
||||||||||||||||
Stevioside
|
$
|
(705,674
|
)
|
$
|
203,668
|
$
|
(1,769,927
|
)
|
$
|
38,596
|
||||||
Corporate and other
|
47,223
|
(11,777
|
)
|
55,649
|
23,491
|
|||||||||||
Total consolidated income (loss) from continuing operations before income taxes
|
$
|
(658,451
|
)
|
$
|
191,891
|
$
|
(1,714,278
|
)
|
$
|
62,087
|
October 31,
2020 |
April 30,
2020 |
|||||||
Segment property and equipment:
|
||||||||
Stevioside
|
$
|
7,211,452
|
$
|
6,976,153
|
||||
Corporate and other
|
1,914,144
|
1,925,395
|
||||||
Total property and equipment
|
$
|
9,125,596
|
$
|
8,901,548
|
|
|
For the three months ended October 31,
|
|
|
For the six months ended October 31,
|
|
||||||||||
Customer
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
||||
A (1)
|
|
|
11.3
|
%
|
|
|
32.3
|
%
|
|
|
19.6
|
%
|
|
|
29.2
|
%
|
B
|
|
|
*
|
|
|
|
*
|
|
|
|
*
|
|
|
10.9
|
%
|
|
C
|
|
|
*
|
|
|
*
|
|
|
|
25.7
|
%
|
|
|
*
|
|
|
D
|
10.9
|
%
|
-
|
10.4
|
%
|
-
|
|
|
For the three months ended October 31,
|
|
|
For the six months ended October 31,
|
|
||||||||||
Supplier
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
||||
A
|
|
|
-
|
|
|
29.1
|
%
|
|
|
*
|
|
|
23.9
|
%
|
||
B
|
|
|
-
|
|
|
16.3
|
%
|
|
|
*
|
|
|
17.4
|
%
|
||
C
|
|
|
-
|
|
|
25.9
|
%
|
|
|
-
|
|
|
13.7
|
%
|
||
D
|
|
|
33.5
|
%
|
|
|
11.7
|
%
|
|
|
24.6
|
%
|
|
|
11.3
|
%
|
E
|
20.3
|
%
|
*
|
24.3
|
%
|
*
|
||||||||||
F
|
18.2
|
%
|
-
|
10.6
|
%
|
-
|
*
|
Less than 10%.
|
Country:
|
|
October 31, 2020
|
|
|
April 30, 2020
|
|
||||||||||
United States
|
|
$
|
55,762
|
|
|
|
14.1
|
%
|
|
$
|
83,830
|
|
|
|
7.4
|
%
|
China
|
|
|
340,817
|
|
|
|
85.9
|
%
|
|
|
1,054,090
|
|
|
|
92.6
|
%
|
Total cash and cash equivalents
|
|
$
|
396,579
|
|
|
|
100.00
|
%
|
|
$
|
1,137,920
|
|
|
|
100.00
|
%
|
|
-
|
|
Stevioside, and
|
|
-
|
|
Corporate and other.
|
|
-
|
|
Chinese domestic food and beverages, particularly herbal tea manufacturers and the pharmaceutical industry, have increased the use of steviosides, and new health awareness trends have also resulted in some new governing laws supporting the
growth of this industry;
|
|
-
|
|
Southeast and South Asia have renewed and increased their interest in stevia, particularly high grade stevia;
|
|
-
|
|
New global product launches mentioning stevia have increased 13% per year on average from 2014 to 2018; and
|
|
-
|
|
Stevia has been growing in popularity in the last 10 years throughout all the global markets.
|
For the Three Months ended October 31, 2020
|
||||||||||||||||||||||||
|
Stevioside
|
Corporate and Other
|
Consolidated
|
|||||||||||||||||||||
Revenues
|
$
|
4,333,035
|
100.0
|
%
|
$
|
100,809
|
100.0
|
%
|
$
|
4,433,844
|
100.0
|
%
|
||||||||||||
Cost of goods sold
|
4,481,914
|
103.4
|
%
|
54,605
|
54.2
|
%
|
4,537,956
|
102.3
|
%
|
|||||||||||||||
Gross profit
|
(150,316
|
)
|
(3.5
|
)%
|
46,204
|
45.8
|
%
|
(104,112
|
)
|
(2.3
|
)%
|
|||||||||||||
Selling expenses
|
255,990
|
5.9
|
%
|
576
|
0.6
|
%
|
256,566
|
5.8
|
%
|
|||||||||||||||
General and administrative expenses
|
173,979
|
4.0
|
%
|
(1,595
|
)
|
(1.6
|
)%
|
172,384
|
3.9
|
%
|
||||||||||||||
Research and development expenses
|
71,129
|
1.6
|
%
|
-
|
-
|
71,129
|
1.6
|
%
|
||||||||||||||||
Loss from operations
|
(651,414
|
)
|
(15.0
|
)%
|
47,223
|
46.8
|
%
|
(604,191
|
)
|
(13.6
|
)%
|
|||||||||||||
Other expenses
|
(54,260
|
)
|
(1.3
|
)%
|
-
|
-
|
(54,260
|
)
|
(1.2
|
)%
|
||||||||||||||
(Loss) income from continuing operations before income taxes
|
$
|
(705,674
|
)
|
(16.3
|
)%
|
$
|
47,223
|
46.8
|
%
|
$
|
(658,451
|
)
|
(14.9
|
)%
|
For the Three Months ended October 31, 2019
|
||||||||||||||||||||||||
|
Stevioside
|
Corporate and Other
|
Consolidated
|
|||||||||||||||||||||
Revenues
|
$
|
7,083,279
|
100.0
|
%
|
$
|
78,302
|
100.0
|
%
|
$
|
7,161,581
|
100.0
|
%
|
||||||||||||
Cost of goods sold
|
5,648,003
|
79.7
|
%
|
39,139
|
50.0
|
%
|
5,687,142
|
79.4
|
%
|
|||||||||||||||
Gross profit
|
1,435,276
|
20.3
|
%
|
39,163
|
50.0
|
%
|
1,474,439
|
20.6
|
%
|
|||||||||||||||
Selling expenses
|
502,773
|
7.1
|
%
|
-
|
-
|
502,773
|
7.0
|
%
|
||||||||||||||||
General and administrative expenses
|
273,733
|
3.9
|
%
|
8,000
|
10.2
|
%
|
281,733
|
3.9
|
%
|
|||||||||||||||
Research and development expenses
|
339,401
|
4.8
|
%
|
-
|
-
|
339,401
|
4.7
|
%
|
||||||||||||||||
Income from operations
|
319,369
|
5.5
|
%
|
31,163
|
39.8
|
%
|
350,532
|
4.9
|
%
|
|||||||||||||||
Other expenses
|
(115,701
|
)
|
(1.6
|
)%
|
(42,940
|
)
|
(54.8
|
)%
|
(158,641
|
)
|
(2.2
|
)%
|
||||||||||||
Income (loss) from continuing operation before income taxes
|
$
|
203,668
|
2.9
|
%
|
$
|
(11,777
|
)
|
(15.0
|
)%
|
$
|
191,891
|
2.7
|
%
|
For the Six Months ended October 31, 2020
|
||||||||||||||||||||||||
|
Stevioside
|
Corporate and Other
|
Consolidated
|
|||||||||||||||||||||
Revenues
|
$
|
11,275,321
|
100.0
|
%
|
$
|
198,201
|
100.0
|
%
|
$
|
11,473,522
|
100.0
|
%
|
||||||||||||
Cost of goods sold
|
11,303,750
|
100.3
|
%
|
106,706
|
53.8
|
%
|
11,410,456
|
99.5
|
%
|
|||||||||||||||
Gross profit
|
(28,429
|
)
|
(0.3
|
)%
|
91,495
|
46.2
|
%
|
63,066
|
0.5
|
%
|
||||||||||||||
Selling expenses
|
566,905
|
5.0
|
%
|
576
|
0.3
|
%
|
567,481
|
4.9
|
%
|
|||||||||||||||
General and administrative expenses
|
610,290
|
5.4
|
%
|
35,270
|
17.8
|
%
|
645,560
|
5.6
|
%
|
|||||||||||||||
Research and development expenses
|
432,567
|
3.8
|
%
|
-
|
-
|
432,567
|
3.8
|
%
|
||||||||||||||||
Income (loss) from operations
|
(1,638,191
|
)
|
(14.5
|
)%
|
55,649
|
28.1
|
%
|
(1,582,542
|
)
|
(13.8
|
)%
|
|||||||||||||
Other expenses
|
(131,736
|
)
|
(1.2
|
)%
|
-
|
-
|
(131,736
|
)
|
(1.1
|
)%
|
||||||||||||||
Income (loss) from continuing operations before income taxes
|
$
|
(1,769,927
|
)
|
(15.7
|
)%
|
$
|
55,649
|
28.1
|
%
|
$
|
(1,714,278
|
)
|
(14.9
|
)%
|
For the Six Months ended October 31, 2019
|
||||||||||||||||||||||||
|
Stevioside
|
Corporate and Other
|
Consolidated
|
|||||||||||||||||||||
Revenues
|
$
|
13,394,838
|
100.0
|
%
|
$
|
656,818
|
100.0
|
%
|
$
|
14,051,656
|
100.0
|
%
|
||||||||||||
Cost of goods sold
|
11,038,469
|
82.4
|
%
|
417,541
|
63.6
|
%
|
11,456,010
|
81.5
|
%
|
|||||||||||||||
Gross profit
|
2,356,369
|
17.6
|
%
|
239,277
|
36.4
|
%
|
2,595,646
|
18.5
|
%
|
|||||||||||||||
Selling expenses
|
855,157
|
6.4
|
%
|
22,048
|
3.4
|
%
|
877,205
|
6.2
|
%
|
|||||||||||||||
General and administrative expenses
|
534,945
|
4.0
|
%
|
149,150
|
22.7
|
%
|
684,095
|
4.6
|
%
|
|||||||||||||||
Research and development expenses
|
644,304
|
4.8
|
%
|
1,648
|
0.3
|
%
|
645,952
|
4.6
|
%
|
|||||||||||||||
Income from operations
|
321,963
|
2.4
|
%
|
66,431
|
10.1
|
%
|
388,394
|
2.8
|
%
|
|||||||||||||||
Other expenses
|
(283,367
|
)
|
(2.1
|
)%
|
(42,940
|
)
|
(6.5
|
)%
|
(326,307
|
)
|
(2.3
|
)%
|
||||||||||||
Income from continuing operation before income taxes
|
$
|
38,596
|
0.3
|
%
|
$
|
23,491
|
10.1
|
%
|
$
|
62,087
|
0.4
|
%
|
|
Three Months Ended October 31,
|
Six Months Ended October 31,
|
||||||||||||||
|
2020
|
2019
|
2020
|
2019
|
||||||||||||
|
||||||||||||||||
Revenues
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
733,441
|
||||||||
Cost of revenues
|
-
|
-
|
-
|
572,357
|
||||||||||||
Gross profit
|
-
|
-
|
-
|
161,084
|
||||||||||||
Operating expenses
|
-
|
-
|
-
|
172,142
|
||||||||||||
Other income, net
|
-
|
-
|
-
|
8,958
|
||||||||||||
Loss before income taxes
|
-
|
-
|
-
|
20,016
|
||||||||||||
Income tax expense
|
-
|
-
|
-
|
-
|
||||||||||||
Loss from discontinued operations
|
-
|
-
|
-
|
20,016
|
||||||||||||
Loss from disposal, net of taxes
|
-
|
-
|
-
|
960
|
||||||||||||
Loss from sales of subsidiary
|
-
|
-
|
-
|
232,455
|
||||||||||||
Total loss from discontinued operations
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
253,431
|
|
October 31,
|
April 30,
|
Increase
|
|||||||||||||
|
2020
|
2020
|
(Decrease)
|
%
|
||||||||||||
|
||||||||||||||||
Cash and cash equivalents
|
$
|
396,579
|
$
|
1,137,920
|
$
|
(741,341
|
)
|
(65.1
|
)%
|
|||||||
Accounts receivable, net
|
2,200,198
|
2,713,567
|
(513,369
|
)
|
(18.9
|
)%
|
||||||||||
Accounts receivable - related party
|
1,458,545
|
3,034,365
|
(1,575,820
|
)
|
(51.9
|
)%
|
||||||||||
Inventories, net
|
15,328,881
|
12,874,497
|
2,454,384
|
19.1
|
%
|
|||||||||||
Prepaid expenses and other current assets
|
960,832
|
693,552
|
267,280
|
38.5
|
%
|
|||||||||||
Total current assets
|
20,345,035
|
20,453,901
|
(108,866
|
)
|
(0.5
|
)%
|
||||||||||
Property and equipment, net
|
9,125,596
|
8,901,548
|
224,048
|
2.5
|
%
|
|||||||||||
Total assets
|
$
|
29,470,631
|
$
|
29,355,449
|
$
|
115,182
|
0.4
|
%
|
||||||||
|
||||||||||||||||
Accounts payable and accrued expenses
|
$
|
10,040,575
|
$
|
8,533,131
|
$
|
1,507,444
|
17.7
|
%
|
||||||||
Short-term loans
|
2,997,613
|
3,378,380
|
(380,767
|
)
|
(11.3
|
)%
|
||||||||||
Due to related parties
|
5,094,261
|
5,072,451
|
21,810
|
0.4
|
%
|
|||||||||||
Total current liabilities
|
18,132,449
|
16,983,962
|
1,148,487
|
6.8
|
%
|
|||||||||||
Total liabilities
|
$
|
18,132,449
|
$
|
16,983,962
|
$
|
1,148,487
|
6.8
|
%
|
|
October 31,
|
April 30,
|
||||||
Country
|
2020
|
2020
|
||||||
United States
|
$
|
55,762
|
$
|
83,830
|
||||
China
|
340,817
|
1,054,090
|
||||||
Total
|
$
|
396,579
|
$
|
1,137,920
|
|
-
|
|
Any obligation under certain guarantee contracts,
|
|
-
|
|
Any retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangement that serves as credit, liquidity or market risk support to that entity for such assets,
|
|
-
|
|
Any obligation under a contract that would be accounted for as a derivative instrument, except that it is both indexed to our stock and classified in stockholder's equity in our statement of financial position,
and
|
|
-
|
|
Any obligation arising out of a material variable interest held by us in an unconsolidated entity that provides financing, liquidity, market risk or credit risk support to us, or engages in leasing, hedging or
research and development services with us.
|
Exhibit No.
|
|
Description of Exhibit
|
31.1
|
|
Section 302 Certificate of Chief Executive Officer.*
|
31.2
|
|
Section 302 Certificate of Chief Financial Officer.*
|
32.1
|
|
Section 906 Certificate of Chief Executive Officer and Chief Financial Officer.*
|
101.INS
|
|
XBRL INSTANCE DOCUMENT**
|
101.SCH
|
|
XBRL TAXONOMY EXTENSION SCHEMA**
|
101.CAL
|
|
XBRL TAXONOMY EXTENSION CALCULATION LINKBASE**
|
101.DEF
|
|
XBRL TAXONOMY EXTENSION DEFINITION LINKBASE**
|
101.LAB
|
|
XBRL TAXONOMY EXTENSION LABEL LINKBASE**
|
101.PRE
|
|
XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE**
|
|
SUNWIN STEVIA INTERNATIONAL, INC.
|
|
|
|
|
Dated: December 11, 2020
|
By: /s/ Dongdong Lin
|
|
Dongdong Lin,
|
|
Chief Executive Officer
|
|
|
|
|
Dated: December 11, 2020
|
By: /s/ Fanjun Wu
|
|
Fanjun Wu,
|
|
Chief Financial Officer
|
1 Year Sunwin Stevia (CE) Chart |
1 Month Sunwin Stevia (CE) Chart |
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