Fortune Valley Treasures, Inc. Files 2023 Annual Report

TL;DR

<b>Fortune Valley Treasures, Inc. has filed its 2023 10-K annual report, detailing its financial performance and corporate history.</b>

AI Summary

Fortune Valley Treasures, Inc. (FVTI) filed a Annual Report (10-K) with the SEC on April 15, 2024. Fortune Valley Treasures, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The company was formerly known as CRYPTO-SERVICES, INC. and changed its name on December 1, 2014. Fortune Valley Treasures, Inc. is incorporated in Nevada (NV). The company's principal business address is located in Dongguan City, Guangdong Province, China. The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking Fortune Valley Treasures, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Fortune Valley Treasures, Inc.'s financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The historical information, including the former company name and date of name change, offers context on the company's evolution and strategic shifts over time.

Risk Assessment

Risk Level: — Fortune Valley Treasures, Inc. shows moderate risk based on this filing. The filing is a standard 10-K report with no immediate red flags, indicating a routine disclosure of financial information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Fortune Valley Treasures, Inc.'s performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-15 — Filing Date (Date of submission)
• 2014-12-01 — Name Change Date (Date of former name change)

Key Players & Entities

• Fortune Valley Treasures, Inc. (company) — Filer name
• CRYPTO-SERVICES, INC. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-15 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• Dongguan City, Guangdong Province (location) — Business address

FAQ

Industry Context

Fortune Valley Treasures, Inc. operates within the miscellaneous retail sector, as indicated by its SIC code.

Regulatory Implications

The filing is a standard 10-K report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for the fiscal years 2021, 2022, and 2023.
2. Investigate the company's business address and operational location in China.
3. Research the reasons behind the former name 'CRYPTO-SERVICES, INC.' and the subsequent name change.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-15: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing for Fortune Valley Treasures, Inc. Comparative data from previous filings will be needed for a full trend analysis.

Key Financial Figures

• $0.001 — (g) of the Act: Common stock, par value $0.001 per share Indicate by check mark if t
• $3.90 — l quarter, computed by reference to the $3.90 closing price of the stock on that date

Filing Documents

• form10-k.htm (10-K) — 2172KB
• ex4-1.htm (EX-4.1) — 15KB
• ex21-1.htm (EX-21.1) — 20KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 9KB
• ex97-1.htm (EX-97.1) — 52KB
• form10-k_001.jpg (GRAPHIC) — 66KB
• form10-k_003.jpg (GRAPHIC) — 39KB
• form10-k_004.jpg (GRAPHIC) — 46KB
• form10-k_005.jpg (GRAPHIC) — 39KB
• form10-k_006.jpg (GRAPHIC) — 45KB
• form10-k_007.jpg (GRAPHIC) — 37KB
• form10-k_008.jpg (GRAPHIC) — 41KB
• form10-k_009.jpg (GRAPHIC) — 55KB
• form10-k_010.jpg (GRAPHIC) — 136KB
• form10-k_011.jpg (GRAPHIC) — 40KB
• form10-k_014.jpg (GRAPHIC) — 2KB
• form10-k_015.jpg (GRAPHIC) — 3KB
• form10-k_016.jpg (GRAPHIC) — 7KB
• form10-k_017.jpg (GRAPHIC) — 2KB
• form10-k_018.jpg (GRAPHIC) — 3KB
• form10-k_019.jpg (GRAPHIC) — 5KB
• form10-k_020.jpg (GRAPHIC) — 3KB
• form10-k_021.jpg (GRAPHIC) — 3KB
• form10-k_022.jpg (GRAPHIC) — 2KB
• form10-k_023.jpg (GRAPHIC) — 2KB
• form10-k_024.jpg (GRAPHIC) — 5KB
• form10-k_025.jpg (GRAPHIC) — 2KB
• form10-k_026.jpg (GRAPHIC) — 2KB
• form10-k_027.jpg (GRAPHIC) — 2KB
• form10-k_028.jpg (GRAPHIC) — 2KB
• form10-k_029.jpg (GRAPHIC) — 2KB
• form10-k_030.jpg (GRAPHIC) — 2KB
• form10-k_031.jpg (GRAPHIC) — 2KB
• form10-k_032.jpg (GRAPHIC) — 2KB
• form10-k_013.jpg (GRAPHIC) — 3KB
• form10-k_033.jpg (GRAPHIC) — 7KB
• audit_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-014607.txt (&nbsp;) — 9897KB
• fvti-20231231.xsd (EX-101.SCH) — 66KB
• fvti-20231231_cal.xml (EX-101.CAL) — 83KB
• fvti-20231231_def.xml (EX-101.DEF) — 228KB
• fvti-20231231_lab.xml (EX-101.LAB) — 439KB
• fvti-20231231_pre.xml (EX-101.PRE) — 347KB
• form10-k_htm.xml (XML) — 1226KB

Business

Business 9 ITEM 1A

Risk Factors

Risk Factors 52 ITEM 1B Unresolved Staff Comments 90 ITEM 1C Cybersecurity 90 ITEM 2

Properties

Properties 90 ITEM 3

Legal Proceedings

Legal Proceedings 90 ITEM 4 Mine Safety Disclosures 90 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 91 ITEM 6 [Reserved] 91 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 92 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 95 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 95 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 95 ITEM 9A

Controls and Procedures

Controls and Procedures 95 ITEM 9B Other Information 96 ITEM 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 96 PART III ITEM 10 Directors, Executive Officers and Corporate Governance 97 ITEM 11

Executive Compensation

Executive Compensation 101 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102 ITEM 13 Certain Relationships and Related Transactions, and Director Independence 103 ITEM 14 Principal Accounting Fees and Services 103 PART IV ITEM 15 Exhibits and Financial Statement Schedules 104 ITEM 16 Form 10-K Summary 105 2 CAUTIONARY NOTES REGARDING FORWARD-LOOKING STATEMENTS This annual report on Form 10-K ("Annual Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. These risks and uncertainties include, but are not limited to, the following: the availability and adequacy of working capital to meet our requirements; the consummation of any potential acquisitions; actions taken or to be taken by legislative, regulatory, judicial and other governmental authorities in China and the United States; changes in our business strategy or development plans; our ability to continue as a going concern; the availability of additional capital to support capital improvements and development; potential opportunities for acquisitions of suitable businesses; the availability of new business opportunities actions the Chinese government may take to intervene in or influ

Risk Factors

Risk Factors Our business and prospects may be limited by a number of risks and uncertainties that we currently face, including without limitation, the following: Risks Related to Our Business and Industry We have a limited operating history in the food supply chain industry in China and cannot ensure the long-term successful operation of all of our businesses We have a history of operating losses, and continued future operating losses would have a material adverse effect on our ability to continue as a going concern The COVID-19 pandemic has had, and may continue to have, an adverse effect on our business and our financial results Failure to successfully execute our online and offline-channel strategy and the cost of our investments in our online platform and technology may materially adversely affect our gross profit, net sales and financial performance We operate in the highly competitive food and beverage industry, and our failure to compete effectively could adversely affect our market share, revenues and growth prospects Supply chain issues that increase our costs or cause a delay in our ability to fulfill orders could have an adverse impact on our business and operating results Our failure to appropriately respond to changing consumer preferences and demand for new products could significantly harm our customer relationships and product sales W

View Full Filing

View this 10-K filing on SEC EDGAR