10-Q Filing

FORTUNE VALLEY TREASURES, INC. CIK: 1626745 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001493152-18-015961`
Period End Date	20180930
Filing Date	20181114
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	fvti-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 63 Cash Flow Statement 44 Comprehensive Income 4

Balance Sheet 49 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.78K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	307.75M	shares	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$22.42K	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`	$236.99K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$11.50K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.89K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$42.95K	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`	$1.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$413.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$353.19K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$13.82K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$10.08K	USD	Point-in-time
Total Assets	`Assets`	$427.19K	USD	Point-in-time
Total Assets	`Assets`	$363.27K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.19K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$35.91K	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$291.00	USD	Point-in-time
Accrued liabilities and other payables	`OtherAccountsPayableAndAccruedLiabilities`	$2.17K	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$11.70K	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$42.80K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$604.60K	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`	$683.60K	USD	Point-in-time
Total Liabilities	`Liabilities`	$558.67K	USD	Point-in-time
Total Liabilities	`Liabilities`	$683.60K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at September 30, 2018 and December 31, 2017)	`CommonStockValue`	$307.75K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at September 30, 2018 and December 31, 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`	$-445.67K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-643.31K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.44K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$15.23K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-320.33K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$427.19K	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$363.27K	USD	Point-in-time

Income Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$45.45K	USD	1 Quarter
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$73.43K	USD	3 Qtrs
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$32.97K	USD	3 Qtrs
Net revenues (related party revenue $0 and $0 for 2018 and 2017)	`Revenues`	$7.59K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$19.84K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$4.39K	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$17.76K	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$36.97K	USD	3 Qtrs
Gross profit	`GrossProfit`	$36.46K	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.20K	USD	1 Quarter
Gross profit	`GrossProfit`	$25.62K	USD	1 Quarter
Gross profit	`GrossProfit`	$15.20K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$99.86K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$197.96K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$238.33K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$64.45K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-38.83K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-96.66K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-182.76K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-201.87K	USD	3 Qtrs
Other income (expenses):	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income (expenses):	`OtherNonoperatingIncomeExpense`	$1.48K	USD	3 Qtrs
Other income (expenses):	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	1 Quarter
Interest income	`InterestIncomeOther`	-	USD	3 Qtrs
Interest income	`InterestIncomeOther`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	$400.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$199.00	USD	1 Quarter
Interest expense	`InterestExpense`	$91.00	USD	3 Qtrs
Interest expense	`InterestExpense`	$91.00	USD	1 Quarter
Total Other income (expense)	`NonoperatingIncomeExpense`	$1.38K	USD	3 Qtrs
Total Other income (expense)	`NonoperatingIncomeExpense`	$-400.00	USD	3 Qtrs
Total Other income (expense)	`NonoperatingIncomeExpense`	$-91.00	USD	1 Quarter
Total Other income (expense)	`NonoperatingIncomeExpense`	$-199.00	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-96.86K	USD	1 Quarter
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-183.16K	USD	3 Qtrs
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-200.49K	USD	3 Qtrs
Earnings before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-38.92K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$-2.85K	USD	3 Qtrs
Income tax	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$-2.85K	USD	1 Quarter
Income tax	`IncomeTaxExpenseBenefit`	$376.00	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-197.63K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-36.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-183.54K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-96.86K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.34K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.67K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.48K	USD	3 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$8.79K	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-98.20K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-187.02K	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-188.85K	USD	3 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-30.39K	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 earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	3 Qtrs
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	3 Qtrs
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	3 Qtrs
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 44 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-197.63K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-36.07K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-183.54K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-96.86K	USD	1 Quarter
Depreciation of fixed assets	`Depreciation`	$4.88K	USD	3 Qtrs
Depreciation of fixed assets	`Depreciation`	$3.75K	USD	3 Qtrs
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$7.08K	USD	3 Qtrs
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$964.00	USD	3 Qtrs
Increase (decrease) in inventories	`IncreaseDecreaseInInventories`	$14.87K	USD	3 Qtrs
Increase (decrease) in inventories	`IncreaseDecreaseInInventories`	$-33.62K	USD	3 Qtrs
Increase (decrease) in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$-27.31K	USD	3 Qtrs
Increase (decrease) in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$9.94K	USD	3 Qtrs
(Decrease) increase in accounts and other payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-11.98K	USD	3 Qtrs
(Decrease) increase in accounts and other payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.68K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-198.75K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-152.01K	USD	3 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchase of plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	-	USD	3 Qtrs
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	-	USD	3 Qtrs
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$127.03K	USD	3 Qtrs
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$109.86K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$127.03K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$109.86K	USD	3 Qtrs
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-42.16K	USD	3 Qtrs
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-71.72K	USD	3 Qtrs
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.12K	USD	3 Qtrs
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.16K	USD	3 Qtrs
Cash and cash equivalents- beginning of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalents- beginning of period	`Cash`	$33.36K	USD	Point-in-time
Cash and cash equivalents- beginning of period	`Cash`	$37.78K	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`	$103.97K	USD	Point-in-time
Cash and cash equivalents- end of period	`Cash`	$33.36K	USD	Point-in-time
Cash and cash equivalents- end of period	`Cash`	$37.78K	USD	Point-in-time
Cash and cash equivalents- end of period	`Cash`	$77.78K	USD	Point-in-time
Interest received	`InterestReceived`	-	USD	3 Qtrs
Interest received	`InterestReceived`	-	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$91.00	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$400.00	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	3 Qtrs

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Related party revenue	`RevenueFromRelatedParties`	-	USD	3 Qtrs
Related party revenue	`RevenueFromRelatedParties`	-	USD	1 Quarter
Related party revenue	`RevenueFromRelatedParties`	-	USD	1 Quarter
Related party revenue	`RevenueFromRelatedParties`	-	USD	3 Qtrs

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