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November 2023
September 2023
July 2023
June 2023
June 2023
June 2023
March 2023
January 2023
January 2023
December 2022
Cover - USD ($) | 12 Months Ended | ||
---|---|---|---|
Jun. 30, 2023 | Sep. 28, 2023 | Dec. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jun. 30, 2023 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity File Number | 001-37776 | ||
Entity Registrant Name | SHINECO, INC. | ||
Entity Central Index Key | 0001300734 | ||
Entity Tax Identification Number | 52-2175898 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Address, Address Line One | RM 3D-1603 New World Center Apartment | ||
Entity Address, Address Line Two | Chong Wen Men Wai Blvd | ||
Entity Address, City or Town | Beijing | ||
Entity Address, Country | CN | ||
Entity Address, Postal Zip Code | 100022 | ||
City Area Code | (+86) | ||
Local Phone Number | 10-68130220 | ||
Title of 12(b) Security | Common stock, $0.001 par value | ||
Trading Symbol | SISI | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 46,782,541 | ||
Entity Common Stock, Shares Outstanding | 43,840,642 | ||
Document Financial Statement Error Correction [Flag] | false | ||
Auditor Firm ID | 6783 | ||
Auditor Name | AssentSure PAC | ||
Auditor Location | Singapore |
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Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Shineco, Inc..
Shineco, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2023 10-K Annual Report includes:
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Amortization of Debt Issuance and Other Costs For the year ended June 30, 2023, our amortization of debt issuance and other costs expenses was US$803,355, representing a decrease of US$576,422, or 41.78%, as compared to amortization of debt issuance and other costs expenses of US$1,379,777, in the same period in 2022.
We entered into four convertible note agreements and two of them were fully converted, hence, resulted in a decrease in amortization of debt issuance and other costs expenses for the year ended June 30, 2023 as compared to the same period last year.
The Chinese regulatory authorities could disallow our structure, which could result in a material change in our operations and the value of our securities could decline or become worthless.
Impairment Loss on An Unconsolidated Entity On August 31, 2021, we entered into a capital injection agreement with the other shareholders of Shanghai Gaojing Private Fund Management ("Gaojing Private Fund"), a Chinese private fund management company, to complete the injection of a total RMB 4.8 million (approximately US$0.70 million) for its 32% equity interest in Gaojing Private Fund.
Under the Purchase Agreement, the Company will sell to the Investors, up to 1,921,683 shares (the "Shares") of its common stock at a per share purchase price of $0.915 (subject to the terms and conditions of the Purchase Agreement) for gross proceeds of up to US$1,758,340, which was fully received as the date of this report.
Examples of forward-looking statements include:...Read more
On January 12, 2023, the...Read more
Wider-spread COVID-19 in China and...Read more
Under the Purchase Agreement, we...Read more
On January 12, 2023, the...Read more
The increase in net loss...Read more
Any continuing failure to remain...Read more
Under the Purchase Agreement, the...Read more
Treasury Policies We have established...Read more
Any decreased collectability of accounts...Read more
Net Loss from Continuing Operations...Read more
Interest Income (Expenses), Net For...Read more
34 Expenses The following table...Read more
With the adoption of ASC...Read more
The increase in net interest...Read more
The increase was also due...Read more
Gross Profit The following table...Read more
Cost of Revenue and Related...Read more
The increase was mainly due...Read more
Financing Activities For the year...Read more
The increase was mainly due...Read more
More specifically, revenue related to...Read more
When the Company is an...Read more
The core principle requires an...Read more
Selling Expenses For the year...Read more
The forward-looking statements speak only...Read more
The decrease in net loss...Read more
The increase was mainly due...Read more
We will continue to closely...Read more
The following table sets forth...Read more
Research and Development Expenses For...Read more
The increase was mainly due...Read more
(b) Minimize currency risk In...Read more
On October 3, 2022 the...Read more
On June 19, 2023, the...Read more
On June 19, 2023, the...Read more
When the Company is a...Read more
Forward-looking statements involve risks and...Read more
In some cases, you can...Read more
They brought claims for, among...Read more
We received principal in full...Read more
Critical accounting policies are those...Read more
Revenue from domestic air and...Read more
After deduction of non-controlling interest,...Read more
37 We currently finance our...Read more
Contingency refers to a condition...Read more
Comprehensive Loss The comprehensive loss...Read more
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If we fail to satisfy...Read more
Level 2 applies to assets...Read more
The decrease of comprehensive loss...Read more
The decrease in net loss...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Shineco, Inc. provided additional information to their SEC Filing as exhibits
Ticker: SISI
CIK: 1300734
Form Type: 10-K Annual Report
Accession Number: 0001493152-23-034631
Submitted to the SEC: Thu Sep 28 2023 4:16:10 PM EST
Accepted by the SEC: Thu Sep 28 2023
Period: Friday, June 30, 2023
Industry: Agricultural Production Crops