10-K Filing

FORTUNE VALLEY TREASURES, INC. CIK: 1626745 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001493152-19-004678`
Period End Date	20181231
Filing Date	20190402
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	fvti-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 32 Cash Flow Statement 38 Stockholders Equity 12 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 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`	$30.00K	USD	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
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$15.32K	USD	Point-in-time
Accounts and other receivable, net	`AccountsAndOtherReceivablesNetCurrent`	$7.71K	USD	Point-in-time
Inventories	`InventoryNet`	$236.18K	USD	Point-in-time
Inventories	`InventoryNet`	$273.49K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.89K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$54.34K	USD	Point-in-time
Due from related parties	`DueFromRelatedPartiesCurrent`	$40.13K	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$2.08K	USD	Point-in-time
Prepaid taxes and taxes recoverable	`PrepaidTaxes`	$751.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$413.36K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$338.31K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$9.81K	USD	Point-in-time
Plant and equipment, net	`PropertyPlantAndEquipmentNet`	$13.82K	USD	Point-in-time
Total Assets	`Assets`	$427.19K	USD	Point-in-time
Total Assets	`Assets`	$348.11K	USD	Point-in-time
Accounts and taxes payable	`AccountsPayableAndAccruedLiabilitiesCurrent`	$48.28K	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`	$291.00	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	$11.70K	USD	Point-in-time
Customers advances and deposits	`CustomerAdvancesAndDepositsCurrent`	-	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$500.61K	USD	Point-in-time
Due to related parties	`DueToRelatedPartiesCurrent`	$686.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$558.67K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$735.34K	USD	Point-in-time
Total Liabilities	`Liabilities`	$735.34K	USD	Point-in-time
Total Liabilities	`Liabilities`	$558.67K	USD	Point-in-time
Common stock (3,000,000,000 shares authorized, 307,750,000 issued and outstanding at December 31, 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 31, 2018 and 2017)	`CommonStockValue`	$307.75K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-708.10K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-445.67K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$13.12K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$6.44K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$15.51K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-387.23K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$427.19K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$348.11K	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenues (related party revenue $46,585 and $139,990 for 2018 and 2017)	`Revenues`	$95.85K	USD	Annual
Net revenues (related party revenue $46,585 and $139,990 for 2018 and 2017)	`Revenues`	$260.97K	USD	Annual
Cost of revenues	`CostOfRevenue`	$134.73K	USD	Annual
Cost of revenues	`CostOfRevenue`	$46.50K	USD	Annual
Gross profit	`GrossProfit`	$49.35K	USD	Annual
Gross profit	`GrossProfit`	$126.25K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$311.08K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$315.44K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-266.08K	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-184.84K	USD	Annual
Other income	`OtherNonoperatingIncome`	$1.44K	USD	Annual
Other income	`OtherNonoperatingIncome`	-	USD	Annual
Interest income	`InterestIncomeOther`	$104.00	USD	Annual
Interest income	`InterestIncomeOther`	$177.00	USD	Annual
Interest expense	`InterestExpense`	-	USD	Annual
Interest expense	`InterestExpense`	$699.00	USD	Annual
Total Other income (expense)	`NonoperatingIncomeExpense`	$847.00	USD	Annual
Total Other income (expense)	`NonoperatingIncomeExpense`	$177.00	USD	Annual
Loss before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-265.24K	USD	Annual
Loss before tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-184.66K	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$-2.81K	USD	Annual
Income tax	`IncomeTaxExpenseBenefit`	$2.83K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-187.50K	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-489.00	USD	Annual
Foreign currency translation gain (loss)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.68K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-187.99K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-255.75K	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	-	USD	Annual
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	Annual
Basic and diluted weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	307.75M	shares	Annual

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-262.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-187.50K	USD	Annual
Depreciation of fixed assets	`Depreciation`	$6.78K	USD	Annual
Depreciation of fixed assets	`Depreciation`	$3.93K	USD	Annual
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$4.29K	USD	Annual
Increase in accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.63K	USD	Annual
(Decrease)/increase in inventories	`IncreaseDecreaseInInventories`	$125.20K	USD	Annual
(Decrease)/increase in inventories	`IncreaseDecreaseInInventories`	$-33.82K	USD	Annual
Increase in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$2.32K	USD	Annual
Increase in advances and prepayments to suppliers	`IncreaseDecreaseInPrepaidExpense`	$3.50K	USD	Annual
Increase in accounts and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$32.61K	USD	Annual
Increase in accounts and other payables	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.10K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-279.27K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-230.38K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	-	USD	Annual
Proceeds of owners' injection of capital	`ProceedsFromContributedCapital`	$11.63K	USD	Annual
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$182.42K	USD	Annual
Borrowing and payments to related parties, net	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$243.08K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$254.71K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$182.42K	USD	Annual
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-24.56K	USD	Annual
Net decrease of cash and cash equivalents	`CashPeriodIncreaseDecrease`	$-47.96K	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$178.00	USD	Annual
Effect of foreign currency translation on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.63K	USD	Annual
Cash and cash equivalents-beginning of period	`Cash`	$103.97K	USD	Point-in-time
Cash and cash equivalents-beginning of period	`Cash`	$30.00K	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`	$30.00K	USD	Point-in-time
Cash and cash equivalents-end of period	`Cash`	$77.78K	USD	Point-in-time
Interest received	`InterestReceived`	$104.00	USD	Annual
Interest received	`InterestReceived`	$177.00	USD	Annual
Interest paid	`InterestPaidNet`	-	USD	Annual
Interest paid	`InterestPaidNet`	$699.00	USD	Annual
Income taxes paid(received)	`IncomeTaxesPaidNet`	$2.83K	USD	Annual
Income taxes paid(received)	`IncomeTaxesPaidNet`	$-2.81K	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$15.51K	USD	Point-in-time
Balance	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Balance	`StockholdersEquity`	$-387.23K	USD	Point-in-time
Recapitalization	`StockIssuedDuringPeriodValueIssuedRecapitalization`	$-16.73K	USD	Annual
Capital contribution by owners	`CapitalContributionInAdditionalContribution`	$57.72K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.42K	USD	Annual
Net loss	`NetIncomeLoss`	$-187.50K	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-489.00	USD	Annual
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$6.68K	USD	Annual
Balance	`StockholdersEquity`	$15.51K	USD	Point-in-time
Balance	`StockholdersEquity`	$-131.48K	USD	Point-in-time
Balance	`StockholdersEquity`	$-387.23K	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Related party revenue	`RevenueFromRelatedParties`	$139.99K	USD	Annual
Related party revenue	`RevenueFromRelatedParties`	$46.59K	USD	Annual

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