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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
[1]
Sep. 30, 2020
Sep. 30, 2019
[1]
Income Statement [Abstract]        
Revenue $ 43,657 $ 342,083 $ 357,295 $ 744,977
Cost of goods sold 13,516 77,165 23,388 322,942
Gross profit 30,141 264,918 333,907 422,035
Operating Expenses        
General and administrative expenses 809,424 921,235 3,082,462 2,555,149
Selling expenses 26,167 243,411 46,641 780,259
Bad debt provision 31,549 48 247,097 7,491
Total operating expenses 867,140 1,164,694 3,376,200 3,342,899
Loss from operations (836,999) (899,776) (3,042,293) (2,920,864)
Other income (expense)        
Interest income 593 61 781 3,977
Interest expenses (289,419) (21,400) (343,206) (134,207)
Loss on debt settlement (1,946,028) (1,946,028)
Other income (expenses), net 597,962 (1,741) 119,310 (4,521)
Total other income (expenses) (1,636,892) (23,080) (2,169,143) (134,751)
Loss from Continuing Operations before Income Tax (2,473,891) (922,856) (5,211,436) (3,055,615)
Income tax provision 76
Loss from Continuing Operations, net of tax (2,473,891) (922,856) (5,211,436) (3,055,691)
Discontinued Operations (Note 12)        
Loss from discontinued operations (80,983) (479,224) (140,794) (1,970,862)
Gain on disposal of discontinued operations 115,947 119,582,658
NET INCOME (LOSS) (2,438,927) (1,402,080) 114,230,428 (5,026,553) [2]
Less: Loss attributable to the non-controlling interest (13,910) (324,647) (22,550) (1,030,611)
Net income (loss) attributable to Future Fintech Group, Inc. Common Shareholders (2,425,017) (1,077,433) 114,252,978 (3,995,942)
Net income (loss) (2,438,927) (1,402,080) 114,230,428 (5,026,553) [2]
Foreign currency translation (147,759) 2,135,361 (630,390) 7,327,449
Comprehensive income (loss) (2,586,686) 733,281 113,600,038 2,300,896
Less: Comprehensive income (loss) attributable to non-controlling interest 68,176 324,648 (2,079,581) 1,030,611
Comprehensive Income (loss) Attributable to Future Fintech Group, Inc. Common Shareholders $ (2,654,862) $ 408,632 $ 115,679,619 $ 1,270,285
Basic Earnings (Loss) per Share:        
Basic loss per share from continuing operations (in Dollars per share) $ (0.07) $ (0.02) $ (0.14) $ (0.07)
Basic earnings (loss) per share from discontinued operations (in Dollars per share) (0.01) 3.23 (0.06)
Basic Earnings (Loss) per Share from Net Income (Loss) (in Dollars per share) (0.07) (0.03) 3.09 (0.13)
Diluted Earnings (Loss) per Share:        
Diluted loss per share from continuing operations (in Dollars per share) (0.07) (0.02) (0.14) (0.07)
Diluted earnings (loss) per share from discontinued operations (in Dollars per share) (0.01) 3.18 (0.06)
Diluted Earnings (Loss) per Share from Net Income (Loss) (in Dollars per share) $ (0.07) $ (0.03) $ 3.04 $ (0.13)
Weighted average number of shares outstanding        
Basic (in Shares) 35,175,728 31,340,160 36,982,973 31,340,160
Diluted (in Shares) 35,845,251 32,009,683 37,652,496 32,009,683
[1] Reclassification- certain reclassifications have been made to the financial statements for the period ended September 30, 2019 to conform to the presentation for the period ended September 30, 2020, with no effect on previously reported net income (loss).
[2] Reclassification- certain reclassifications have been made to the statements of cash flow for the period ended September 30, 2019 to conform to the presentation for the period ended September 30, 2020.