XML 16 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 576,303 $ 539,316
Accounts receivable 464 4,954
Other receivables, net 44,668 7,489
Inventories 3,044 3,594
Advances to suppliers and other current assets 145,868 1,668,847
Loan receivables 206,512
Assets related to discontinued operation 92,772,786
TOTAL CURRENT ASSETS 976,859 94,996,986
Property, plant and equipment, net 16,466 17,855
Intangible assets, net 6,981,330 5,312,906
Amount due from related parties 3,089,063 3,402,823
Long term investments 12,250,000 12,250,000
TOTAL ASSETS 23,313,718 115,980,570
Accounts payable 316,783 320,378
Accrued expenses and other payables 2,661,944 2,574,471
Advances from customers 422,994 702,179
Short-term bank loans 844,805 957,990
Loans payable 2,252,556 1,972,909
Advances from issuance of the Company’s Common Stock 500,000
Liabilities related to discontinued operations 196,261,748
TOTAL CURRENT LIABILITIES 6,999,082 202,789,675
Amount due to related parties 1,603,177 1,268,101
TOTAL LIABILITIES 8,602,259 204,057,776
Commitments and contingencies (Note 14)
STOCKHOLDER’S EQUITY    
Common stock, $0.001 par value; 60,000,000 shares authorized and 38,494,063 shares issued and outstanding as of June 30, 2020 and 33,810,416 shares issued and outstanding as of December 31, 2019, respectively 38,494 33,810
Additional paid-in capital 109,739,379 107,852,827
Accumulated deficits (96,636,617) (213,314,612)
Accumulated other comprehensive income 3,667,726 12,989,408
Total Future FinTech Group Inc. stockholders’ equity 16,808,982 (92,438,567)
Non-controlling interests (2,097,523) 4,361,361
Total stockholders’ equity 14,711,459 (88,077,206)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 23,313,718 $ 115,980,570