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)
|
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
|
26
|
|
|
Item 4. Controls and Procedures
|
26
|
|
|
PART II-OTHER INFORMATION
|
|
Item 1. Legal Proceedings
|
27
|
|
|
Item 1A. Risk Factors
|
27
|
|
|
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
|
27
|
|
|
Item 3. Defaults Upon Senior Securities
|
27
|
|
|
Item 4. Mine Safety Disclosures
|
28
|
|
|
Item 5. Other Information
|
28
|
|
|
Item 6. Exhibits
|
28
|
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 Neutraceuticals 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 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 known as Sunwin Stevia International Corp., a Florida corporation, it was converted 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; and
|
|
-
|
|
"Qufu Shengren" refers to Qufu Shengren Pharmaceutical Co., Ltd., a Chinese limited liability company, and a wholly owned subsidiary of Qufu Natural Green.
|
|
|
|
|
We also use the following terms when referring to certain related parties:
|
|||
|
-
|
|
"Pharmaceutical Corporation" refers to Shandong Shengwang Pharmaceutical Co., Ltd., a Chinese limited liability company which is controlled by Mr. Laiwang Zhang, Chairman and a principal shareholder of our Company;
|
|
-
|
|
"Qufu Shengwang Import and Export" refers to Qufu Shengwang Import and Export Co., Ltd., a Chinese limited liability company, controlled by Mr. Zhang;
|
|
-
|
|
"Shandong Group" refers to Shandong Shengwang Group Co., Ltd., a Chinese limited liability company, controlled by Mr. Zhang; and
|
|
-
|
|
Mr. Weidong Chai, a management member of Qufu Shengren Pharmaceutical Co., Ltd.
|
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.
|
|
Three Months Ended
January 31,
|
Nine Months Ended
January 31,
|
||||||||||||||
Numerator:
|
2019
|
2018
|
2019
|
2018
|
||||||||||||
Net loss attributable to Sunwin Stevia International, Inc.
|
$
|
(1,018,730
|
)
|
$
|
(872,810
|
)
|
$
|
(3,314,410
|
)
|
$
|
(3,821,910
|
)
|
||||
Numerator for basic EPS, loss applicable to common stock holders
|
$
|
(1,018,730
|
)
|
$
|
(872,810
|
)
|
$
|
(3,314,410
|
)
|
$
|
(3,821,910
|
)
|
||||
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
|
199,632,803
|
199,632,803
|
199,632,803
|
||||||||||||
Basic and diluted loss per common share:
|
||||||||||||||||
Loss per share - basic and diluted
|
$
|
(0.01
|
)
|
$
|
(0.00
|
)
|
$
|
(0.02
|
)
|
$
|
(0.02
|
)
|
As of January 31, 2019
|
RMB 6.70 to $1.00
|
As of April 30, 2018
|
RMB 6.33 to $1.00
|
|
|
Nine months ended January 31, 2019
|
RMB 6.76 to $1.00
|
Nine months ended January 31, 2018
|
RMB 6.67 to $1.00
|
|
January 31,
2019
|
April 30,
2018
|
||||||
|
(unaudited)
|
|||||||
Raw materials
|
$
|
5,477,559
|
$
|
8,803,685
|
||||
Work in process
|
4,030,657
|
1,357,484
|
||||||
Finished goods
|
3,907,725
|
2,403,402
|
||||||
|
$
|
13,415,941
|
$
|
12,564,571
|
|
January 31,
2019
|
April 30,
2018
|
|||||||
Estimated Life
|
(unaudited)
|
||||||||
Office equipment
|
3-10 Years
|
$
|
103,192
|
$
|
75,821
|
||||
Auto and trucks
|
2-10 Years
|
617,001
|
660,926
|
||||||
Manufacturing equipment
|
2-20 Years
|
5,800,661
|
5,638,206
|
||||||
Buildings
|
5-20 Years
|
9,260,118
|
9,224,911
|
||||||
Construction in process
|
|
1,922,325
|
661,111
|
||||||
|
|
17,703,297
|
16,260,975
|
||||||
Less: accumulated depreciation
|
|
(7,686,868
|
)
|
(7,208,089
|
)
|
||||
|
|
$
|
10,016,429
|
$
|
9,052,886
|
|
January 31,
2019
|
|
April 30,
2018
|
|
|||||
|
Estimated Life
|
(unaudited)
|
|
|
|||||
Land use right
|
45 Years
|
|
$
|
2,369,935
|
|
|
$
|
2,507,726
|
|
Less: accumulated amortization
|
|
|
|
(553,129
|
)
|
|
|
(543,120
|
)
|
|
|
|
$
|
1,816,806
|
|
|
$
|
1,964,606
|
|
|
Shandong Shengwang Pharmaceutical
Co., Ltd.
|
Qufu
Shengwang
Import and Export Co., Ltd.
|
Mr. Wedong Chai
|
Total
|
||||||||||||
Balance due to related parties, April 30, 2018
|
$
|
2,280,266
|
$
|
103,169
|
$
|
175,781
|
$
|
2,559,216
|
||||||||
Working capital advances from related parties
|
3,521,805
|
413,917
|
11,232
|
3,946,954
|
||||||||||||
Repayments
|
(2,793,209
|
)
|
(130,270
|
)
|
-
|
(2,923,479
|
)
|
|||||||||
Effect of foreign currency exchange
|
(61,529
|
)
|
4,381
|
(9,462
|
)
|
(66,610
|
)
|
|||||||||
Balance due to related parties, January 31, 2019
|
$
|
2,947,333
|
$
|
391,197
|
$
|
177,551
|
$
|
3,516,081
|
Account
|
January 31,
2019
|
April 30,
2018
|
||||||
|
(unaudited)
|
|||||||
Accounts payable
|
$
|
6,555,872
|
$
|
9,169,871
|
||||
Advanced from customers
|
13,640
|
44,488
|
||||||
Accrued salary payable
|
164,363
|
169,321
|
||||||
Tax payable
|
119,701
|
199,644
|
||||||
Deferred revenue
|
37,821
|
39,994
|
||||||
Other payable*
|
2,811,770
|
2,036,686
|
||||||
Total accounts payable and accrued expenses
|
$
|
9,703,167
|
$
|
11,660,004
|
|
January 31,
2019
|
April 30,
2018
|
||||||
|
(Unaudited)
|
|||||||
Loan from Min Wu, an employee of Qufu Shengren, due on October 5, 2019, with an annual interest rate of 10%, renewed at October 6, 2018.
|
$
|
32,819
|
$
|
34,704
|
||||
Loan from Jianjun Yan, non-related individual, due on October 6, 2019, with an annual interest rate of 10%, renewed at October 7, 2018 and accrued interest enrolled into debt principal of RMB880,880 ($131,482).
|
1,445,466
|
1,389,531
|
||||||
Loan from Jianjun Yan, non-related individual, due on March 31, 2019, with annual interest rate of 4%, renewed at April 1, 2018.
|
1,169,538
|
1,236,710
|
||||||
Loans from Jianjun Yan, non-related individual, due on demand, with free interest at January 27, 2018.
|
-
|
457,457
|
||||||
Loan from Junzhen Zhang, non-related individual, due on October 5, 2019, with an annual interest rate of 10%, renewed at October 6, 2018.
|
23,868
|
25,239
|
||||||
Loan from Jian Chen, non-related individual, due on January 26, 2020 and April 10, 2019, bearing an annual interest rate of 10%, with the principle amount of RMB847,000 ($126,352) and RMB330,000 ($49,228) at January 27, 2019 and April 11, 2018, respectively.
|
175,580
|
173,518
|
||||||
Loan from Qing Kong, non-related individual, due on March 6, 2019, with an annual interest rate of 10% at March 7, 2018, See Note 12.
|
72,201
|
76,348
|
||||||
Loan from Qing Kong, non-related individual, due on January 8, 2020, with an annual interest rate of 10% at January 9, 2019.
|
32,819
|
31,549
|
||||||
Loan from Guihai Chen, non-related individual, due on March 10, 2020, with an annual interest rate of 10% at March 11, 2019, See Note 12.
|
17,901
|
18,929
|
||||||
Loan from Guihai Chen, non-related individual, due on September 20, 2019, with an annual interest rate of 10%, renewed at September 21, 2018.
|
29,835
|
31,549
|
||||||
Loan Weifeng Kong, non-related individual, due on November 28, 2018, with an annual interest rate of 10% at November 29, 2017.
|
29,835
|
31,549
|
||||||
Loan Shidong Wang, non-related individual, due on March 7, 2019, with an annual interest rate of 4% at March 8, 2018, See Note 12.
|
1,551,428
|
1,640,534
|
||||||
Loan from Xuxu Gu, non-related individual, due on March 8, 2019, with an annual interest rate of 4%, renewed at March 9, 2018, See Note 12.
|
1,491,758
|
1,577,436
|
||||||
Loan from Dadong Mei, non-related individual, due on March 8, 2019, with an annual interest rate of 4%, renewed at March 9, 2018, See Note 12.
|
1,491,758
|
1,577,436
|
||||||
Loan Xuxu Gu, non-related individual, due on September 27, 2019, with an annual interest rate of 4% at September 28, 2017.
|
1,596,182
|
-
|
||||||
Total
|
$
|
9,160,988
|
$
|
8,302,489
|
|
January 31,
2019
|
April 30,
2018
|
||||||
|
(Unaudited)
|
|||||||
Loan Xuxu Gu, non-related individual, due on September 27, 2019, with an annual interest rate of 4% at September 28, 2017. (Reclassified from long-term loan to short-term loan on September 28, 2018)
|
$
|
-
|
$
|
1,687,857
|
||||
Loan Xuxu Gu, non-related individual, due on July 13, 2020, with an annual interest rate of 4% at July 14, 2018.
|
432,610
|
-
|
||||||
Loan Xuxu Gu, non-related individual, due on August 15, 2020, with an annual interest rate of 4% at August 16, 2018.
|
507,198
|
-
|
||||||
Loan Mingbang Ma, non-related individual, due on May 22, 2020, with an annual interest rate of 4% at May 23, 2018.
|
298,352
|
-
|
||||||
Loan Weiwei Lian, non-related individual, due on May 29, 2020, with an annual interest rate of 4% at May 30, 2018.
|
1,491,758
|
-
|
||||||
Loan Guanghua Xia, non-related individual, due on June 8, 2020, with an annual interest rate of 4% at June 9, 2018.
|
1,342,582
|
-
|
||||||
Loan Guanghua Xia, non-related individual, due on December 31, 2020, with an annual interest rate of 4% at January 1, 2019.
|
417,692
|
-
|
||||||
Loan Yuehu Zhou, non-related individual, due on June 12, 2020, with an annual interest rate of 4% at June 13, 2018.
|
1,342,582
|
-
|
||||||
Total:
|
$
|
5,832,774
|
$
|
1,687,857
|
|
Three Months Ended January 31,
|
Nine Months Ended January 31,
|
||||||||||||||
|
2019
|
2018
|
2019
|
2018
|
||||||||||||
Revenues:
|
||||||||||||||||
Chinese medicine - third parties
|
$
|
713,905
|
$
|
675,927
|
$
|
2,020,026
|
$
|
2,099,147
|
||||||||
Chinese medicine - related parties
|
5,416
|
-
|
11,369
|
-
|
||||||||||||
Total Chinese medicine
|
719,321
|
675,927
|
2,031,395
|
2,099,147
|
||||||||||||
|
||||||||||||||||
Stevioside - third parties
|
4,567,310
|
4,058,336
|
12,336,433
|
11,135,229
|
||||||||||||
Stevioside - related parties
|
1,081,378
|
1,591,329
|
3,195,115
|
1,858,709
|
||||||||||||
Total Stevioside
|
5,648,688
|
5,649,665
|
15,531,548
|
12,993,938
|
||||||||||||
Total segment and consolidated revenues
|
$
|
6,368,009
|
$
|
6,325,592
|
$
|
17,562,943
|
$
|
15,093,085
|
|
Three Months Ended January 31,
|
Nine Months Ended January 31,
|
||||||||||||||
|
2019
|
2018
|
2019
|
2018
|
||||||||||||
Interest (expense) income:
|
||||||||||||||||
Chinese medicine
|
$
|
266
|
$
|
386
|
$
|
995
|
$
|
742
|
||||||||
Stevioside
|
(207,474
|
)
|
(152,055
|
)
|
(589,969
|
)
|
(387,670
|
)
|
||||||||
Total segment and consolidated interest expense
|
$
|
(207,208
|
)
|
$
|
(151,669
|
)
|
$
|
(588,974
|
)
|
$
|
(386,928
|
)
|
||||
Depreciation and amortization:
|
||||||||||||||||
Chinese medicine
|
$
|
47,431
|
$
|
33,531
|
$
|
117,085
|
$
|
170,961
|
||||||||
Stevioside
|
281,385
|
300,818
|
824,359
|
1,032,021
|
||||||||||||
Total segment and consolidated depreciation and amortization
|
$
|
328,816
|
$
|
334,349
|
$
|
941,444
|
$
|
1,202,982
|
||||||||
Loss before income taxes:
|
||||||||||||||||
Chinese medicine
|
$
|
(5,879
|
)
|
$
|
(6,964
|
)
|
$
|
(122,686
|
)
|
$
|
(521,873
|
)
|
||||
Stevioside
|
(902,153
|
)
|
(551,179
|
)
|
(2,390,017
|
)
|
(2,278,166
|
)
|
||||||||
Corporate and other
|
(110,698
|
)
|
(314,667
|
)
|
(801,707
|
)
|
(1,021,871
|
)
|
||||||||
Total consolidated loss before income taxes
|
$
|
(1,018,730
|
)
|
$
|
(872,810
|
)
|
$
|
(3,314,410
|
)
|
$
|
(3,821,910
|
)
|
|
January 31,
2019
|
April 30,
2018
|
||||||
Segment property and equipment:
|
||||||||
Chinese medicine
|
$
|
1,049,498
|
$
|
1,129,884
|
||||
Stevioside
|
8,966,931
|
7,923,002
|
||||||
Corporate and other
|
-
|
-
|
||||||
Total consolidated assets
|
$
|
10,016,429
|
$
|
9,052,886
|
|
Net Sales
|
|||||||||||||||
|
For the three months ended
January 31, 2019
|
For the three months ended
January 31, 2018
|
||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Chinese Medicine
|
Stevioside
|
||||||||||||
Qufu Shengwang Import and Export Trade Co., Ltd(1)
|
-
|
17.0
|
%
|
-
|
25.2
|
%
|
||||||||||
Shandong YidaTong Enterprise Co., Ltd
|
-
|
*
|
-
|
16.5
|
%
|
|||||||||||
Total
|
-
|
17.0
|
%
|
-
|
41.7
|
%
|
|
Net Sales
|
|||||||||||||||
|
For the nine months ended
January 31, 2019
|
For the nine months ended
January 31, 2018
|
||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Chinese Medicine
|
Stevioside
|
||||||||||||
Qufu Shengwang Import and Export Trade Co., Ltd (1)
|
-
|
18.2
|
%
|
-
|
12.3
|
%
|
||||||||||
Shandong YidaTong Enterprise Co., Ltd
|
-
|
*
|
-
|
10.6
|
%
|
|||||||||||
Total
|
-
|
18.2
|
%
|
-
|
22.9
|
%
|
|
Net Purchases
|
|||||||||||||||
|
For the three months ended
January 31, 2019
|
For the three months ended
January 31, 2018
|
||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Chinese Medicine
|
Stevioside
|
||||||||||||
Dongtai Jintudi Stevia Co., Ltd.
|
-
|
-
|
-
|
11.3
|
%
|
|||||||||||
Zhucheng Haotian Pharmaceutical Co., Ltd.
|
-
|
27.4
|
%
|
-
|
*
|
|||||||||||
Dongtai Zhongxin Stevia Corp.
|
-
|
18.1
|
%
|
-
|
-
|
|||||||||||
Total
|
-
|
45.5
|
%
|
-
|
11.3
|
%
|
|
Net Purchases
|
|||||||||||||||
|
For the nine months ended
January 31, 2019
|
For the nine months ended
January 31, 2018
|
||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Chinese Medicine
|
Stevioside
|
||||||||||||
Dongtai Jintudi Stevia Co., Ltd
|
-
|
*
|
-
|
14.7
|
%
|
|||||||||||
Dongtai Yandun Stevia Corp.
|
-
|
*
|
-
|
12.7
|
%
|
|||||||||||
Zhucheng Haotian Pharmaceutical Co., Ltd.
|
-
|
14.9
|
%
|
-
|
-
|
|||||||||||
Dongtai Zhongxin Stevia Corp.
|
-
|
31.6
|
%
|
-
|
-
|
|||||||||||
Total
|
-
|
46.5
|
%
|
-
|
27.4
|
%
|
|
-
|
|
Stevioside, and
|
|
-
|
|
Chinese Medicine.
|
|
-
|
|
single traditional Chinese medicine extracts;
|
|
-
|
|
compound traditional Chinese medicine extracts; and
|
|
-
|
|
purified extracts, including active parts and monomer compounds such as soy isoflavone.
|
- |
Chinese domestic food and beverages, particularly herbal tea manufacturers and the pharmaceutical industry, have increased the use of steviosides;
|
- |
Southeast and South Asia have renewed and increased their interest in stevia, particularly high grade stevia; and
|
- |
The marketing strategy to differentiate ourselves as a producer of higher quality stevia grades and product formulations through these collaboration efforts may lead to sustainable growth in stevia sales volume in the future.
|
For the Three Months ended January 31, 2019
|
||||||||||||||||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Corporate and other
|
Consolidated
|
||||||||||||||||||||||||
Total revenues
|
$
|
719,321
|
100.0
|
%
|
$
|
5,648,688
|
100.0
|
%
|
$
|
-
|
$
|
6,368,009
|
100.0
|
%
|
||||||||||||||
Cost of revenues
|
539,455
|
75.0
|
%
|
4,879,114
|
86.4
|
%
|
-
|
5,418,569
|
85.1
|
%
|
||||||||||||||||||
Gross profit
|
179,866
|
25.0
|
%
|
769,574
|
13.6
|
%
|
-
|
949,440
|
14.9
|
%
|
||||||||||||||||||
Research and development expenses
|
1,871
|
0.3
|
%
|
317,876
|
5.6
|
%
|
-
|
319,747
|
5.0
|
%
|
||||||||||||||||||
Other operating expenses
|
184,578
|
25.7
|
%
|
1,150,685
|
20.4
|
%
|
110,698
|
1,445,961
|
22.7
|
%
|
||||||||||||||||||
Other income (expenses)
|
703
|
0.1
|
%
|
(203,165
|
)
|
(3.6
|
)%
|
-
|
(202,462
|
)
|
(3.2
|
)%
|
||||||||||||||||
Loss before income taxes
|
$
|
(5,879
|
)
|
(0.8
|
)%
|
$
|
(902,153
|
)
|
(16.0
|
)%
|
$
|
(110,698
|
)
|
$
|
(1,018,730
|
)
|
(16.0
|
)%
|
For the Three Months ended January 31, 2018
|
||||||||||||||||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Corporate and other
|
Consolidated
|
||||||||||||||||||||||||
Total revenues
|
$
|
675,927
|
100.0
|
%
|
$
|
5,649,665
|
100.0
|
%
|
$
|
-
|
$
|
6,325,592
|
100.0
|
%
|
||||||||||||||
Cost of revenues
|
531,693
|
78.7
|
%
|
5,057,083
|
89.5
|
%
|
-
|
5,588,776
|
88.3
|
%
|
||||||||||||||||||
Gross profit
|
144,234
|
21.3
|
%
|
592,582
|
10.5
|
%
|
-
|
736,816
|
11.7
|
%
|
||||||||||||||||||
Loss on disposition of property and equipment
|
2,164
|
0.3
|
%
|
266
|
0.0
|
%
|
-
|
2,430
|
0.0
|
%
|
||||||||||||||||||
Research and development expenses
|
1,387
|
0.2
|
%
|
282,964
|
5.0
|
%
|
-
|
284,351
|
4.5
|
%
|
||||||||||||||||||
Other operating expenses
|
189,427
|
28.0
|
%
|
862,335
|
15.3
|
%
|
314,667
|
1,366,429
|
21.6
|
%
|
||||||||||||||||||
Other income
|
41,779
|
6.2
|
%
|
1,805
|
0.0
|
%
|
-
|
43,584
|
0.7
|
%
|
||||||||||||||||||
Loss before income taxes
|
$
|
(6,964
|
)
|
(1.0
|
)%
|
$
|
(551,179
|
)
|
(9.8
|
)%
|
$
|
(314,667
|
)
|
$
|
(872,810
|
)
|
(13.8
|
)%
|
For the Nine Months ended January 31, 2019
|
||||||||||||||||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Corporate and other
|
Consolidated
|
||||||||||||||||||||||||
Total revenues
|
$
|
2,031,395
|
100.0
|
%
|
$
|
15,531,548
|
100.0
|
%
|
$
|
-
|
$
|
17,562,943
|
100.0
|
%
|
||||||||||||||
Cost of revenues
|
1,618,822
|
79.7
|
%
|
13,818,210
|
89.0
|
%
|
-
|
15,437,032
|
87.9
|
%
|
||||||||||||||||||
Gross profit
|
412,573
|
20.3
|
%
|
1,713,338
|
11.0
|
%
|
-
|
2,125,911
|
12.1
|
%
|
||||||||||||||||||
Research and development expenses
|
3,350
|
0.2
|
%
|
699,533
|
4.5
|
%
|
-
|
702,883
|
4.0
|
%
|
||||||||||||||||||
Other operating expenses
|
534,809
|
26.3
|
%
|
2,803,532
|
18.1
|
%
|
801,707
|
4,140,048
|
23.6
|
%
|
||||||||||||||||||
Other income (expenses)
|
2,900
|
0.1
|
%
|
(600,290
|
)
|
(3.9
|
)%
|
-
|
(597,390
|
)
|
(3.4
|
)%
|
||||||||||||||||
Loss before income taxes
|
$
|
(122,686
|
)
|
(6.0
|
)%
|
$
|
(2,390,017
|
)
|
(15.4
|
)%
|
$
|
(801,707
|
)
|
$
|
(3,314,410
|
)
|
(18.9
|
)%
|
For the Nine Months ended January 31, 2018
|
||||||||||||||||||||||||||||
|
Chinese Medicine
|
Stevioside
|
Corporate and other
|
Consolidated
|
||||||||||||||||||||||||
Total revenues
|
$
|
2,099,147
|
100.0
|
%
|
$
|
12,993,938
|
100.0
|
%
|
$
|
-
|
$
|
15,093,085
|
100.0
|
%
|
||||||||||||||
Cost of revenues
|
1,720,361
|
82.0
|
%
|
12,067,132
|
92.9
|
%
|
-
|
13,787,493
|
91.3
|
%
|
||||||||||||||||||
Gross profit
|
378,786
|
18.0
|
%
|
926,806
|
7.1
|
%
|
-
|
1,305,592
|
8.7
|
%
|
||||||||||||||||||
Loss on disposition of property and equipment
|
253,890
|
12.1
|
%
|
31,260
|
0.2
|
%
|
285,150
|
1.9
|
%
|
|||||||||||||||||||
Research and development expenses
|
2,330
|
0.1
|
%
|
648,324
|
5.0
|
%
|
-
|
650,654
|
4.3
|
%
|
||||||||||||||||||
Other operating expenses
|
560,326
|
26.7
|
%
|
2,379,479
|
18.3
|
%
|
1,021,871
|
3,961,676
|
26.3
|
%
|
||||||||||||||||||
Other expenses
|
(84,113
|
)
|
(4.0
|
)%
|
(145,909
|
)
|
(1.1
|
)%
|
-
|
(230,022
|
)
|
(1.5
|
)%
|
|||||||||||||||
Loss before income taxes
|
$
|
(521,873
|
)
|
(24.9
|
)%
|
$
|
(2,278,166
|
)
|
(17.5
|
)%
|
$
|
(1,021,871
|
)
|
$
|
(3,821,910
|
)
|
(25.3
|
)%
|
|
-
|
|
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: March 15, 2019
|
By: /s/ Dongdong Lin
|
|
Dongdong Lin,
|
|
Chief Executive Officer
|
|
|
|
|
Dated: March 15, 2019
|
By: /s/ Fanjun Wu
|
|
Fanjun Wu,
|
|
Chief Financial Officer
|
March 15, 2019
|
/s/ Dongdong Lin
|
|
Dongdong Lin,
|
|
Chief Executive Officer
(Principal Executive Officer)
|
March 15, 2019
|
/s/ Fanjun Wu
|
|
Fanjun Wu,
|
|
Chief Financial Officer
(Principal Financial and Accounting Officer)
|
March 15, 2019
|
/s/ Dongdong Lin
|
|
Dongdong Lin,
|
|
Chief Executive Officer
|
|
|
March 15, 2019
|
/s/ Fanjun Wu
|
|
Fanjun Wu,
|
|
Chief Financial Officer
|