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Unaudited Condensed Pro Forma Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Business Acquisition, Pro Forma Information [Abstract] |
Schedule of Consolidated Statements Of Balance Sheet |
|  | December 31, 2019 |
ASSETS |  |  |
CURRENT ASSETS |  |  |
Cash and cash equivalents |  | $ | 539,316 |
Accounts receivable, net of allowance of $16,127,000 as of December 31, 2019 and $15,650,217 as of December 31, 2018, respectively |  |  | 4,954 |
Other receivables, net |  |  | 7,489 |
Inventories |  |  | 3,594 |
Advances to suppliers and other current assets |  |  | 1,668,847 |
TOTAL CURRENT ASSETS |  | $ | 2,224,200 |
Property, plant and equipment, net |  | $ | 17,855 |
Intangible assets |  |  | 5,312,906 |
Amount due from related parties |  |  | 3,402,823 |
Long-term investments |  |  | 12,250,000 |
TOTAL ASSETS |  | $ | 23,207,784 |
LIABILITIES |  |  |  |
CURRENT LIABILITIES |  |  |  |
Accounts payable |  | $ | 320,378 |
Accrued expenses |  |  | 4,547,380 |
Advances from customers |  |  | 702,179 |
Short-term bank loans |  |  | 957,990 |
TOTAL CURRENT LIABILITIES |  | $ | 6,527,927 |
NON-CURRENT LIABILITIES |  |  |  |
Amount due to related parties |  |  | 1,268,101 |
TOTAL NON-CURRENT LIABILITIES |  |  | 1,268,101 |
TOTAL LIABILITIES |  | $ | 7,796,028 |
Commitments and contingencies(Note 16) |  |  |  |
STOCKHOLDER'S EQUITY |  |  |  |
Future FinTech Group, Inc, Stockholders' equity |  |  |  |
Common stock, $0.001 par value; 60,000,000 shares authorized and 33,810,416 shares and 31,017,083 shares issued and outstanding as of December 31, 2019 and December 31, 2018, respectively |  | $ | 33,810 |
Additional paid-in capital |  |  | 107,852,827 |
Accumulated deficits |  |  | (109,825,651 | )
Accumulated other comprehensive income (loss) |  |  | 12,989,409 |
Total Future FinTech Group, Inc. stockholders' equity |  |  | 11,050,395 |
Non-controlling interests |  |  | 4,361,361 |
Total stockholders' equity |  |  | 15,411,756 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |  | $ | 23,207,784 |
Schedule of Consolidated Statements Of Income And Comprehensive Income Of Comparison Between Pro Forma And Future Fintech Group Inc. |
|  | Pro Forma For the Year Ended |  |  | Pro Forma For the Year Ended |
|  | 2019 |  |  | 2018 |
Revenue |  | $ | 955,172 |  |  | $ | 131,832 |
Cost of goods sold |  |  | 464,307 |  |  |  | 83,888 |
Gross profit |  |  | 490,865 |  |  |  | 47,944 |
Operating Expenses |  |  |  |  |  |  |  |
General and administrative expenses |  |  | 4,913,656 |  |  |  | 1,636,298 |
Selling expenses |  |  | 500,949 |  |  |  | 14,482 |
Bad debt provision |  |  | 5,234,205 |  |  |  | - |
Inventory markdown |  |  | 27,247 |  |  |  | - |
Impairment Loss |  |  | 2,751,099 |  |  |  | 44,665,618 |
Total operating expenses |  |  | 13,427,156 |  |  |  | 46,316,398 |
Loss from operations |  |  | (12,936,291 | ) |  |  | (46,268,454 | )
Other (expenses) income |  |  |  |  |  |  |  |
Interest income |  |  | 3,995 |  |  |  | 711 |
Interest expenses |  |  | (523,676 | ) |  |  | 96,329 |
Other income(expenses) |  |  | (229,042 | ) |  |  | (4,382,686 | )
Total other income (expenses), net |  |  | (748,723 | ) |  |  | (4,285,646 | )
Loss from Continuing Operations before Income Tax |  |  | (13,685,014 | ) |  |  | (50,554,100 | )
Income tax provision |  |  | - |  |  |  | 206 |
Loss from Continuing Operations before Non-controlling Minority Interest |  |  | (13,685,014 | ) |  |  | (50,554,306 | )
Less: Net loss attributable to non-controlling interests |  |  | (163,576 | ) |  |  | (123,139 | )
Loss from Continuing Operations |  | $ | (13,521,438 | ) |  | $ | (50,431,167 | )
Discontinued Operations |  |  |  |  |  |  |  |
Loss from discontinued operations |  |  | - |  |  |  | - |
NET LOSS ATTRIBUTABLE TO FUTURE FINTECH GROUP INC |  | $ | (13,521,438 | ) |  | $ | (50,431,167 | )
Earnings per share: |  |  |  |  |  |  |  |
Basic earnings per share from continued operation |  | $ | (0.42 | ) |  | $ | (2.33 | )
Basic earnings per share from discontinued operation |  |  | - |  |  |  | - |
|  | $ | (0.42 | ) |  | $ | (2.33 | )
Diluted Earnings per share: |  |  |  |  |  |  |  |
Diluted earnings per share from continued operation |  | $ | (0.42 | ) |  | $ | (2.30 | )
Diluted earnings per share from discontinued operation |  |  | - |  |  |  | - |
|  | $ | (0.42 | ) |  | $ | (2.30 | )
Weighted average number of shares outstanding |  |  |  |  |  |  |  |
Basic |  |  | 33,996,279 |  |  |  | 21,636,146 |
Diluted |  |  | 33,996,279 |  |  |  | 21,966,612 |

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