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Discontinued Operations | 9 Months Ended
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Sep. 30, 2025
Discontinued Operations [Abstract] |
DISCONTINUED OPERATIONS | 19. DISCONTINUED OPERATIONS 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. The loss on disposal was $22.46. On October 18, 2024, Nice Talent Asset Management Limited (“NTAM”) was disposed of for a consideration of $ 0.31 million (HK$2.40 million). The loss on disposal was $2.32 million. On December 6, 2024, FTFT Super Computing Inc. was disposed of for a consideration of US$1.97 million, of which (i) the assumption of the obligations of FTFT Super Computing totaling $973,072.24 and (ii) $1,000,000 was paid to an account at Olshan Frome Wolosky LLP to satisfy, in part, the right of payment held by FT Global Capital, Inc. arising from the judgment entered in favor of FT Global and against the Company registered in the Southern District of New York. The gain on disposal was $3.42 million. On February 3, 2025, FTFT UK LIMITED, FTFT Finance UK Limited, Future Fintech Digital Number One US, LP, Future Fintech Digital Number One Offshore, LLC(Cayman), Future Fintech Digital Number One GP, LLC (USA), FTFT Digital Number One, Ltd.(Cayman), Future FinTech Labs Inc, Future Fintech Digital Capital, FTFT CAPITAL INVESTMENTS, DigiPay FinTech Limited, DCON DigiPay Limited-JPN and Global Key Shared Mall Ltd were disposed of for a consideration of US$25,000 after a court auction sale. The gain on disposal was $28.24 million. Loss from discontinued operations for the nine months ended September 30, 2025 and 2024 was as follows:
|  | For the three months ended September 30, |  |  | For the nine months ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
REVENUES |  | $ | - |  |  | $ | 4,148,334 |  |  | $ | - |  |  | $ | 12,526,011 |
COST OF SALES |  |  | - |  |  |  | 3,257,147 |  |  |  | - |  |  |  | 8,622,343 |
GROSS PROFIT |  |  | - |  |  |  | 891,187 |  |  |  | - |  |  |  | 3,903,668 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
General and administrative |  |  | - |  |  |  | 1,739,015 |  |  |  | - |  |  |  | 5,933,253 |
Research and development expenses |  |  | - |  |  |  | 655 |  |  |  | - |  |  |  | 3,029 |
Selling expenses |  |  | - |  |  |  | 17,135 |  |  |  | - |  |  |  | 17,419 |
Allowance for (net recovery of) credit losses /doubtful accounts |  |  | - |  |  |  | (3,811 | ) |  |  |  |  |  |  | 112,455 |
Total |  |  | - |  |  |  | 1,752,994 |  |  |  | - |  |  |  | 6,066,156 |
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | - |  |  |  | 13,973 |  |  |  | - |  |  |  | 43,886 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (722 | )
Other income (expense) |  |  | - |  |  |  | 133,055 |  |  |  | - |  |  |  | (212,878 | )
Total |  |  | - |  |  |  | 147,028 |  |  |  | - |  |  |  | (169,714 | )
Loss from discontinued operations before income tax |  |  | - |  |  |  | (714,779 | ) |  |  | - |  |  |  | (2,332,202 | )
Income tax provision |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Loss from discontinued operation before non-controlling interest |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Gain on disposal of discontinued operations |  |  | - |  |  |  | (844 | ) |  |  | 28,238,122 |  |  |  | 644,593 |
Less: net income (loss) attributable to non-controlling interests |  |  | - |  |  |  | (53,666 | ) |  |  | 1,866,066 |  |  |  | (88,120 | )
INCOME (LOSS) FROM DISCONTINUED OPERATION |  | $ | - |  |  | $ | (661,957 | ) |  | $ | 26,372,056 |  |  | $ | (1,599,489 | )
The major components of assets and liabilities related to discontinued operations are summarized below:
|  | September 30, 2025 |  |  | December 31, 2024 |
Cash and cash equivalents |  | $ | - |  |  | $ | 76,876 |
Other receivables, net |  |  | - |  |  |  | 200,269 |
Advances to suppliers and other current assets, net |  |  | - |  |  |  | 30,449 |
Property and equipment, net |  |  | - |  |  |  | 134,553 |
Right of use assets - operation lease |  |  | - |  |  |  | 154,810 |
Total assets related to discontinued operations |  | $ | - |  |  | $ | 596,957 |
Accrued expenses and other payables |  | $ | - |  |  | $ | 301,807 |
Amount due to related parties |  |  | - |  |  |  | 29,036 |
Lease liability - operation lease |  |  | - |  |  |  | 154,810 |
Total liabilities related to discontinued operations |  | $ | - |  |  | $ | 485,653 |

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