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Discontinued Operations
 9 Months Ended
Sep. 30, 2024
Discontinued Operations [Abstract]  
DISCONTINUED OPERATIONS

20. DISCONTINUED OPERATIONS

  

On June 16, 2023, QR (HK) Limited was dissolved and deregistered.

 

On December 5, 2023, FTFT PARAGUAY S.A. was dissolved.

 

On March 7, 2024, Chain Cloud Mall Network and Technology (Tianjin) Co., Limited was dissolved and deregistered.

 

On September 4, 2024, Tianjin Future Private Equity Fund Management Partnership (Ltd Partnership) was dissolved and deregistered.

 

Loss from discontinued operations for September 30, 2024 and 2023 was as follows: 

 

   For the three months ended
September 30,		   For the nine months ended
September 30,		 
   2024   2023   2024   2023 
REVENUES  $
-
   $16,222   $
-
   $133,478 
COST OF SALES   
-
    36,942    
-
    131,485 
GROSS PROFIT   
-
    (20,720)   
-
    1,993 
                     
OPERATING EXPENSES:                    
General and administrative   
-
    37,966    
-
    264,772 
Research and Development expenses   
-
    
-
    
-
    2,589 
Selling expenses   
-
    
-
    
-
    4,962 
Total   
-
    37,966    
-
    272,323 
                     
OTHER INCOME (EXPENSE)                    
Interest income   
-
    36    
-
    53 
Interest expense   
-
    
 
    
-
    
 
 
Other expense (income)   
-
    308    
-
    (1,509)
Total   
-
    344    
-
    (1,456)
Loss from discontinued operations before income tax   
-
    (58,342)   
-
    (271,786)
Income tax provision   
-
    
-
    
-
    
-
 
Loss from discontinued operation before noncontrolling interest  $
-
   $
-
   $
-
   $
-
 
(Loss) Gain on disposal of discontinued operations   (844)   
-
    644,593    105,480 
Less: Net loss attributable to non-controlling interests   
-
    
-
    
-
    
-
 
(LOSS) INCOME FROM DISCONTINUED OPERATION  $(844)  $(58,342)  $644,593   $(166,306)

 

The major components of assets and liabilities related to discontinued operations are summarized below:

 

   September 30,
2024		   December 31,
2023		 
Cash and cash equivalents  $
     -
   $16,080 
Other receivables   
-
    49 
Advances to suppliers and other current assets   
-
    7,957 
Total current assets related to discontinued operations  $
-
   $24,086 
    -      
Property, plant and equipment, net   
-
    72 
Total assets related to discontinued operations  $
-
   $24,158 
           
Accounts payable  $
-
   $18,346 
Accrued expenses and other payables   
-
    222,771 
Advances from customers   
-
    2,604 
Total liabilities related to discontinued operations  $
-
   $243,721