XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.23.1

Other Receivables | 3 Months Ended
--- | ---
Mar. 31, 2023
Other Receivables [Abstract] |
OTHER RECEIVABLES | 5. OTHER RECEIVABLES As of March 31, 2023, the balance of other receivables was $5.51 million. As of April 22, 2022 and January 31, 2023, FTFT Super Computing Inc. entered into a “Electricity Sales and Purchase Agreement” with a third-party seller. FTFT Super Computing Inc. provided an initial amount of Adequate Assurance to the seller in the form of a cash deposit in the amount of $1.86 million and has receivables from resale of electricity $0.18 million. On February 3, 2023, Future Fintech Group Inc. entered into a “Consulting Agreement” with a third party for its professional service of potential acquisition projects. Future Fintech Group Inc. provided initial amount of cash deposit to the third party in the amount of $2.40 million. On May 18, 2023, the parties terminated the agreement and the Company has received repayment of $2.40 million. In addition, other receivables included total $1.07 million deposit paid and prepayments to third party. As of December 31, 2022, the balance of other receivables was $2.65 million. On October 1, 2022, FTFT UK Limited, a wholly owned subsidiary of the Company acquired 100% equity interest of Khyber Money Exchange Ltd., a company incorporated for £786,887. Buyer deposited £400,000 for cash balance expected to be left in the bank account of Khyber upon the closing (subject to refund to the Buyer upon the actual amount $0.24 million in Khyber’s account at closing) to Buyer’s solicitors to be held by Buyer’s solicitors in their client account upon the final closing of the acquisition. As of January 9, 2023, the Company has received refund $0.24 million. As of April 22, 2022, FTFT Super Computing Inc. entered into a “Electricity Sales and Purchase Agreement” with a third-party seller. FTFT Super Computing Inc. provided an initial amount of Adequate Assurance to the seller in the form of a cash deposit in the amount of $1.00 million and has receivables from resale of electricity $0.24 million. In addition, other receivables included total $1.17 million deposit paid and prepayments to third party.

X
- References No definition available. + Details
Name: | ftft_OtherReceivablesAbstract
Namespace Prefix: | ftft_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of other receivables. + References No definition available. + Details
Name: | ftft_OtherReceivablesTextBlock
Namespace Prefix: | ftft_
Data Type: | dtr:textBlockItemType
Balance Type: | na
Period Type: | duration