10-Q Filing

FORTUNE VALLEY TREASURES, INC. CIK: 1626745 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001493152-17-006727`
Period End Date	20170531
Filing Date	20170616
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	fvti-20170531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 32 Income Statement 32 Cash Flow Statement 33

Balance Sheet 32 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.18K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.83K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.75M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.83K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.75M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.18K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.75M	shares	Point-in-time
Total Assets	`Assets`	$10.18K	USD	Point-in-time
Total Assets	`Assets`	$8.83K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$16.10K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$20.15K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$3.00K	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$58.72K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$23.15K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$74.81K	USD	Point-in-time
Total Liabilities	`Liabilities`	$74.81K	USD	Point-in-time
Total Liabilities	`Liabilities`	$23.15K	USD	Point-in-time
Common stock authorized: 75,000,000 shares, par value $0.001, 7,750,000 common shares issued and outstanding as of May 31, 2017 and August 31, 2016, respectively	`CommonStockValue`	$7.75K	USD	Point-in-time
Common stock authorized: 75,000,000 shares, par value $0.001, 7,750,000 common shares issued and outstanding as of May 31, 2017 and August 31, 2016, respectively	`CommonStockValue`	$7.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$71.23K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$81.73K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-154.12K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-93.30K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-64.64K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-14.32K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$8.83K	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$10.18K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$14.21K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$60.82K	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$17.59K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$43.38K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$43.38K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$17.59K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$60.82K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$14.21K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-17.59K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-43.38K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-14.21K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-60.82K	USD	3 Qtrs
Other income (expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	-	USD	3 Qtrs
Other income (expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	-	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-60.82K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-43.38K	USD	3 Qtrs
Net Loss Per Common Share Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net Loss Per Common Share Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net Loss Per Common Share Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net Loss Per Common Share Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.75M	shares	1 Quarter
Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.75M	shares	1 Quarter
Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.75M	shares	3 Qtrs
Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.75M	shares	3 Qtrs

Cash Flow Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.21K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.59K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-60.82K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-43.38K	USD	3 Qtrs
Expenses paid by related party on behalf of the Company	`ExpensesPaidByRelatedPartyOnBehalfOfCompany`	$66.22K	USD	3 Qtrs
Expenses paid by related party on behalf of the Company	`ExpensesPaidByRelatedPartyOnBehalfOfCompany`	-	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$8.33K	USD	3 Qtrs
Prepaid expense	`IncreaseDecreaseInPrepaidExpense`	$1.34K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.45K	USD	3 Qtrs
Cash Used in/from Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-41.71K	USD	3 Qtrs
Cash Used in/from Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$10.50K	USD	3 Qtrs
Advances from related parties	`ProceedsFromRelatedPartyDebt`	-	USD	3 Qtrs
Advances from related parties	`ProceedsFromRelatedPartyDebt`	$1.50K	USD	3 Qtrs
Loan forgiven by former shareholder	`LoanForgivenByFormerShareholder`	$-10.50K	USD	3 Qtrs
Cash Used in /from Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.50K	USD	3 Qtrs
Cash Used in /from Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.50K	USD	3 Qtrs
Net Decrease in Cash and Cash Equivalents	`CashPeriodIncreaseDecrease`	-	USD	3 Qtrs
Net Decrease in Cash and Cash Equivalents	`CashPeriodIncreaseDecrease`	$-40.21K	USD	3 Qtrs
Cash and Cash Equivalents at Beginning of period	`Cash`	$42.49K	USD	Point-in-time
Cash and Cash Equivalents at Beginning of period	`Cash`	-	USD	Point-in-time
Cash and Cash Equivalents at Beginning of period	`Cash`	-	USD	Point-in-time
Cash and Cash Equivalents at Beginning of period	`Cash`	$2.28K	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`Cash`	$42.49K	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`Cash`	-	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`Cash`	-	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`Cash`	$2.28K	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Interest paid	`InterestPaid`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Loan forgiven by former shareholder	`LoanForgivenByFormerShareholderNoncash`	$10.50K	USD	3 Qtrs
Loan forgiven by former shareholder	`LoanForgivenByFormerShareholderNoncash`	-	USD	3 Qtrs

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