Future FinTech Group Inc

For the period ended Dec 31, 2023. Filed Apr 16, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Apr 16, 2024

FTFT$3.19-8.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	For the Year Ended
2023 · 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$(34,015,899)		$(14,316,364)
Net loss from discontinued operation	386,482		(307,195)
Net loss from continuing operations	(34,402,381)		(14,009,169)
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	273,106		185,151
Amortization	57,035		63,552
(Recovery) Provision of doubtful debts	(716,914)		26,440
Impairment of goodwill	14,148,298		2,214,825
Impairment of intangible	-		124,317
Impairment of short term investment	12,633		909,663
Share-based payments	3,468,000		2,172,990
Changes in operating assets and liabilities
Accounts receivable	5,440,382		285,648
Other receivables	(8,356,443)		(1,402,815)
Advances to suppliers and other current assets	840,589		(1,742,565)
Operating lease assets and liabilities	13,969		-
Accounts payable	(4,407,407)		3,603,498
Accrued expenses	7,333,163		855,186
Advances from customers	(929,926)		1,233,348
Notes payable	-		3,589,582
Proceeds from amounts due from related parties, net	-		517,076
Repayment of amounts due to related parties, net	-		(966,603)
Taxes payable	-		(41,111)
Net cash used in operating activities – continued operations	(17,225,896)		(2,380,987)
Net cash provided by operating activities – discontinued operations	574,573		(288,286)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(811,093)		(587,104)
Disposal of property and equipment	32,490		-
Additions to loan receivables	(9,966,830)		(20,078,917)
Repayment of loan receivable	14,107,063		6,880,000
Payment for available-for-sale securities			-
Acquisition of a subsidiary, net of cash	4,679,434		166,676
Disposal of a subsidiary, net of cash	(5,993)		-
Purchase of intangible assets	-		(570,351)
Net cash used in investing activities from continued operations	8,035,071		(14,189,696)
Net cash used in investing activities from discontinued operations	-		(218,667)
CASH FLOWS FROM FINANCING ACTIVITIES
Notes payable	(3,589,582)		-
Proceeds from amounts due from related parties, net	944,035		-
Repayment of amounts due to related parties, net	(639,800)		-
Proceeds from secured convertible promissory note	1,100,723		-
Contribution by Non - controlling interests	360,876		-
Repayment of loans			(188,215)
Payment of dividends to the non-controlling interest			(63,477)
Net cash (used in) provided by financing activities	(1,823,748)		(251,692)
Effect of change in exchange rate	(188,642)		(3,207,303)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(10,628,642)		(20,536,631)
Cash and cash equivalents, from the continuing operations beginning of year	29,660,920		50,271,801
Cash and restricted cash at end of year	19,032,278		29,735,170
Less: Cash and cash equivalents from the discontinued operations, end of year	-		(74,250)
Cash and cash equivalents, from the continuing operations end of year	19,032,278		29,660,920
SUPPLEMENTARY DISCLOSURE OF SIGNIFICANT NON-CASH TRANSACTION
Issuance of common stocks (Note 23)	$7,387,697	$
Deferred liabilities (Note 19)	-
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid	510,838		714,126
Interest paid	-		11,696

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.