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Discontinued Operations | 9 Months Ended
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Sep. 30, 2022
Discontinued Operations [Abstract] |
DISCONTINUED OPERATIONS | 23. DISCONTINUED OPERATIONS On March 18, 2021, Chain Future Digital Tech (Beijing) Co., Ltd. was deregistered. On April 9, 2021, FT Commercial Management (Beijing) Co., Ltd. was dissolved and deregistered. On August 2, 2021, the Company sold Guangchengji (Guangdong) Industrial Co., Ltd. to an unrelated third party. On September 2, 2021, Future Supply Chain Co., Ltd. discontinued its operations, and on November 4, 2021, it was transferred to Shaanxi Fu Chen Venture Capital Management Co. Ltd. On June 27, 2022, Chain Cloud Mall Logistics Center (Shanxi) Co., Ltd. was dissolved and deregistered. Loss from discontinued operations for September 30, 2022 and 2021 was as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
REVENUES |  | $ | - |  |  |  | - |  |  |  | - |  |  |  | 1,180,528 |
COST OF SALES |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 573,716 |
GROSS PROFIT |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 606,812 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  |  | - |  |  |  | 152,272 |  |  |  | - |  |  |  | 12,280 |
Selling expenses |  |  |  |  |  |  | 493 |  |  |  |  |  |  |  | 493 |
Bad debt provision |  |  | - |  |  |  |  |  |  |  | - |  |  |  | (3,075 | )
Total |  |  | - |  |  |  | 152,765 |  |  |  | - |  |  |  | 9,698 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 229 |
Interest expenses |  |  |  |  |  |  | (281,449 | ) |  |  |  |  |  |  | (370 | )
Other income net |  |  | - |  |  |  | 253,870 |  |  |  | - |  |  |  | 279,363 |
Total |  |  | - |  |  |  | (27,579 | ) |  |  | - |  |  |  | 279,222 |
Income from discontinued operations before income tax |  |  | - |  |  |  | (180,344 | ) |  |  | - |  |  |  | 876,336 |
Income tax provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Income from discontinued operation before non-controlling interest |  |  | - |  |  |  | (180,344 | ) |  |  | - |  |  |  | 876,336 |
(Loss) Income on disposal of discontinued operations |  |  | - |  |  |  | (3,679,447 | ) |  |  | (154 | ) |  |  | (3,523,652 | )
(LOSS) INCOME FROM DISCONTINUED OPERATION |  |  | - |  |  |  | (3,859,791 | ) |  |  | (154 | ) |  |  | (2,647,316 | )
The major components of assets and liabilities related to discontinued operations are summarized below:
|  | September 30, 2022 |  |  | December 31, 2021 |
Cash |  | $ | - |  |  | $ | - |
Property, plant and equipment, net |  |  | - |  |  |  | - |
Other current assets |  |  | - |  |  |  | - |
Amount due from related parties |  |  | - |  |  |  | 157 |
Total assets related to discontinued operations |  | $ | - |  |  |  | 157 |
Accrued expenses |  | $ | - |  |  | $ | - |
Amount due to related parties |  |  | - |  |  |  | - |
Total liabilities related to discontinued operations |  | $ | - |  |  | $ | - |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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