Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 12

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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    Net income (loss) 
    $(4,847,811) 
    $286,021 
  
    Net income from discontinued operations, net of tax 
     -  
     8,855,247 
  
    Net loss from continuing operations 
     (4,847,811) 
     (8,569,226)

    Adjustments to reconcile net income (loss) to net cash used in operating activities: 

    Depreciation and amortization 
     2,654,949  
     2,365,955 
  
    Gain from disposal of property and equipment 
     (767) 
     - 
  
    Allowance for credit losses and doubtful accounts 
     1,404,254  
     516,063 
  
    Reversal of inventory reserve 
     (30,825) 
     (26,288)
  
    Deferred tax benefit 
     (584,109) 
     (957,928)
  
    Gain from disposal of a subsidiary 
     (114,945) 
     - 
  
    Amortization of right of use assets 
     85,016  
     37,002 
  
    Forgiveness of subscription receivable 
     -  
     3,024,000 
  
    Common stock issued for management and employees 
     140,132  
     540,311 
  
    Amortization of debt issuance and other costs 
     335,688  
     366,057 
  
    Accrued interest expense for convertible notes 
     350,849  
     457,056 
  
    Accrued interest income from third parties 
     (387,679) 
     - 

    Changes in operating assets and liabilities: 

    Accounts receivable 
     (412,221) 
     5,207,133 
  
    Advances to suppliers 
     (11,775,779) 
     (4,961,015)
  
    Inventories 
     (86,121) 
     164,612 
  
    Other current assets 
     (87,277) 
     42,536 
  
    Accounts payable 
     1,861,373  
     (4,353,578)
  
    Contract liabilities 
     10,030,137  
     3,062,