10-Q Filing

FORTUNE VALLEY TREASURES, INC. CIK: 1626745 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-007589`
Period End Date	20180331
Filing Date	20180521
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	fvti-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 30 Cash Flow Statement 42 Comprehensive Income 2

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	3.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	307.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	307.75M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	307.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	307.75M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.74K	USD	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$46.53K	USD	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$15.32K	USD	Point-in-time
Inventories	`InventoryNet`	$273.49K	USD	Point-in-time
Inventories	`InventoryNet`	$273.49K	USD	Point-in-time
Inventories	`InventoryNet`	$287.15K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.89K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$17.00K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$7.85K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$40.13K	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$751.00	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$2.87K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$438.14K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$413.36K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$13.09K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$13.82K	USD	Point-in-time
Total Assets	`Assets`	$451.23K	USD	Point-in-time
Total Assets	`Assets`	$427.19K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.19K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$51.00K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$2.17K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$319.00	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$11.70K	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$42.22K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$573.49K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$500.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$558.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$667.02K	USD	Point-in-time
Total Liabilities	`Liabilities`	$558.67K	USD	Point-in-time
Total Liabilities	`Liabilities`	$667.02K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at December 31, 2017 and 2016)	`CommonStockValue`	$307.75K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at December 31, 2017 and 2016)	`CommonStockValue`	$307.75K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-528.46K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-445.67K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.44K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.91K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-215.79K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$451.23K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$427.19K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$18.27K	USD	1 Quarter
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$13.75K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$9.16K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$7.56K	USD	1 Quarter
Gross profit	`GrossProfit`	$6.19K	USD	1 Quarter
Gross profit	`GrossProfit`	$9.10K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$48.57K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$102.62K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-96.43K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-39.46K	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	$-491.00	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-491.00	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-39.46K	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-96.92K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-96.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.46K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-72.00	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.53K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-98.45K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-39.54K	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	1 Quarter
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-96.92K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-39.46K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$1.62K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$1.75K	USD	1 Quarter
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$4.00K	USD	1 Quarter
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$29.76K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$-6.63K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$15.89K	USD	1 Quarter
Increase in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$-46.36K	USD	1 Quarter
Increase in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$16.19K	USD	1 Quarter
Increase (decrease) in accounts and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.43K	USD	1 Quarter
Increase (decrease) in accounts and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.47K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.95K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-98.64K	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds of owners injection of capital	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Proceeds of owners injection of capital	`ProceedsFromContributedCapital`	-	USD	1 Quarter
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$93.38K	USD	1 Quarter
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-29.92K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$93.38K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-29.92K	USD	1 Quarter
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-37.87K	USD	1 Quarter
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-5.25K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.21K	USD	1 Quarter
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.00	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`Cash`	$66.11K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$76.74K	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`Cash`	$77.78K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$66.11K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$76.74K	USD	Point-in-time
Cash and cash equivalentsend of period	`Cash`	$77.78K	USD	Point-in-time
Interest received	`InterestReceived`	$491.00	USD	1 Quarter
Interest received	`InterestReceived`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Related party revenue	`RevenueFromRelatedParties`	-	USD	1 Quarter
Related party revenue	`RevenueFromRelatedParties`	-	USD	1 Quarter

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