10-Q Filing

FORTUNE VALLEY TREASURES, INC. CIK: 1626745 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-012351`
Period End Date	20180630
Filing Date	20180820
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	fvti-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 64 Cash Flow Statement 44 Comprehensive Income 2

Balance Sheet 48 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 issued	`CommonStockSharesIssued`	307.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	307.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.31K	USD	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$15.32K	USD	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$21.46K	USD	Point-in-time
Inventories	`InventoryNet`	$265.76K	USD	Point-in-time
Inventories	`InventoryNet`	$273.49K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.89K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$14.50K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$40.13K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$33.84K	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$2.67K	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$751.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$367.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$413.36K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$13.82K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.76K	USD	Point-in-time
Total Assets	`Assets`	$427.19K	USD	Point-in-time
Total Assets	`Assets`	$378.30K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$36.35K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.19K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$2.17K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$303.00	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$11.70K	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$44.50K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$500.61K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$587.14K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$668.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$558.67K	USD	Point-in-time
Total Liabilities	`Liabilities`	$558.67K	USD	Point-in-time
Total Liabilities	`Liabilities`	$668.30K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at December June 30, 2018 and 2017)	`CommonStockValue`	$307.75K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at December June 30, 2018 and 2017)	`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`	$-607.29K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-445.67K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$9.55K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.44K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-289.99K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$427.19K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$378.30K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$25.38K	USD	2 Qtrs
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$14.23K	USD	1 Quarter
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$27.97K	USD	2 Qtrs
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$7.11K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$13.37K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$4.21K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$17.13K	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$9.57K	USD	1 Quarter
Gross profit	`GrossProfit`	$12.01K	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.90K	USD	1 Quarter
Gross profit	`GrossProfit`	$10.84K	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.65K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$70.77K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$173.88K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$49.54K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$96.85K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-46.64K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-86.10K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-66.12K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-163.04K	USD	2 Qtrs
Other income expenses	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Other income expenses	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income expenses	`OtherNonoperatingIncomeExpense`	$1.48K	USD	2 Qtrs
Other income expenses	`OtherNonoperatingIncomeExpense`	$1.48K	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	2 Qtrs
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	-	USD	1 Quarter
Interest expense	`InterestExpense`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$201.00	USD	1 Quarter
Interest expense	`InterestExpense`	$201.00	USD	2 Qtrs
Total Other income (expense)	`NonoperatingIncomeExpense`	$1.48K	USD	2 Qtrs
Total Other income (expense)	`NonoperatingIncomeExpense`	$1.48K	USD	1 Quarter
Total Other income (expense)	`NonoperatingIncomeExpense`	$-201.00	USD	1 Quarter
Total Other income (expense)	`NonoperatingIncomeExpense`	$-201.00	USD	2 Qtrs
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-64.64K	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-46.84K	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-161.57K	USD	2 Qtrs
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-86.30K	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	$376.00	USD	2 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	$376.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-86.68K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-47.22K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-161.57K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-64.64K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.41K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.07K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.14K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.94K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-158.15K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-88.83K	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-59.70K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-49.29K	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
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
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	2 Qtrs

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-86.68K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-47.22K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-161.57K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-64.64K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$3.47K	USD	2 Qtrs
Depreciation of fixed assets	`Depreciation`	$3.24K	USD	2 Qtrs
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$6.44K	USD	2 Qtrs
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$10.69K	USD	2 Qtrs
Increase (decrease) in inventories	`IncreaseDecreaseInInventories`	$-13.94K	USD	2 Qtrs
Increase (decrease) in inventories	`IncreaseDecreaseInInventories`	$12.81K	USD	2 Qtrs
Increase (decrease) in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$5.37K	USD	2 Qtrs
Increase (decrease) in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$-23.23K	USD	2 Qtrs
(Decrease) increase in accounts and other payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.04K	USD	2 Qtrs
(Decrease) increase in accounts and other payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.81K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-105.27K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-138.17K	USD	2 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	-	USD	2 Qtrs
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	-	USD	2 Qtrs
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$86.19K	USD	2 Qtrs
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$86.28K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$86.19K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$86.28K	USD	2 Qtrs
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-18.94K	USD	2 Qtrs
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-51.98K	USD	2 Qtrs
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.51K	USD	2 Qtrs
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$709.00	USD	2 Qtrs
Cash and cash equivalents-beginning of period	`Cash`	$85.68K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`Cash`	$29.31K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`Cash`	$77.78K	USD	Point-in-time
Cash and cash equivalents-end of period	`Cash`	$85.68K	USD	Point-in-time
Cash and cash equivalents-end of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalents-end of period	`Cash`	$29.31K	USD	Point-in-time
Cash and cash equivalents-end of period	`Cash`	$77.78K	USD	Point-in-time
Interest received	`InterestReceived`	-	USD	2 Qtrs
Interest received	`InterestReceived`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Interest paid	`InterestPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	2 Qtrs

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Related party revenue	`RevenueFromRelatedParties`	-	USD	2 Qtrs
Related party revenue	`RevenueFromRelatedParties`	-	USD	2 Qtrs

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