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Discontinued Operations
 9 Months Ended
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  $
-
   $
-