Search information
Ownership
Exclude Filing Types
NFT Limited
Companies
Tables in SEC filings
Source
Number of shares | Common Stock | Additional Paid-in capital | Accumulated deficit | Accumulated other comprehensive loss | Total | |||||||||||||||||||
Balance, December 31, 2020 | 225,428 | $ | 11,271 | $ | 6,358,115 | $ | (226,311) | $ | (328,030) | $ | 5,815,045 | |||||||||||||
Issuance of common stock for restricted share award | 60,798 | 3,040 | 26,005,328 | - | - | 26,008,368 | ||||||||||||||||||
Stock option exercised | 1,221 | 61 | 180,424 | - | - | 180,485 | ||||||||||||||||||
Share based compensation | - | - | 3,718 | - | - | 3,718 | ||||||||||||||||||
Net loss from continuing operations | - | - | - | (13,478,704) | - | (13,478,704) | ||||||||||||||||||
Net loss from discontinued operations | - | - | - | (16,594,807) | - | (16,594,807) | ||||||||||||||||||
Deconsolidation of subsidiary | - | - | - | 855,637 | - | 855,637 | ||||||||||||||||||
Foreign currency translation adjustment | - | - | - | - | (13,059) | (13,059) | ||||||||||||||||||
Balance, December 31, 2021 | 287,447 | 14,372 | 32,547,585 | (29,444,185) | (341,089) | 2,776,683 | ||||||||||||||||||
Private placement | 412,391 | 20,620 | 59,979,387 | - | - | 60,000,007 | ||||||||||||||||||
Net loss from continuing operations | - | - | - | (9,641,098) | - | (9,641,098) | ||||||||||||||||||
Net loss from discontinued operations | - | - | - | (712,414) | - | (712,414) | ||||||||||||||||||
Foreign currency translation adjustment | - | - | - | - | (16,397) | (16,397) | ||||||||||||||||||
Balance, December 31, 2022 | 699,838 | 34,992 | 92,526,972 | (39,797,696) | (357,486) | 52,406,782 | ||||||||||||||||||
Private placement | 699,838 | 3,499 | 6,435,008 | - | - | 6,438,507 | ||||||||||||||||||
Warrant issuance | - | - | (3,235,357) | - | - | (3,235,357) | ||||||||||||||||||
Net profit from continuing operations | - | - | - | (1,704,994) | - | (1,704,994) | ||||||||||||||||||
Net loss from discontinued operations | - | - | - | 6,541,214 | 367,344 | 6,908,558 | ||||||||||||||||||
Foreign currency translation adjustment | - | - | - | - | (9,858) | (9,858) | ||||||||||||||||||
Balance, December 31, 2023 | 1,399,676 | $ | 38,491 | $ | 95,726,623 | $ | (34,961,476) | $ | - | $ | 60,803,638 |
December 31, 2023 | December 31, 2022 | |||||||
Deposit | $ | 5,557 | $ | 5,557 | ||||
Other current assets | 6,829,212 | - | ||||||
Less: allowance for doubtful accounts | - | - | ||||||
Subtotal | 6,834,769 | 5,557 | ||||||
Less: Prepayment and other current assets, net – discontinued operations | - | - | ||||||
Prepayment and other current assets, net | $ | 6,834,769 | $ | 5,557 |
For the year ended December 31, 2023 | For the year ended December 31, 2022 | For the year ended December 31, 2021 | ||||||||||
Loss before income tax expense | $ | (21,946) | $ | (712,414) | $ | (16,594,807) | ||||||
Computed tax benefit with statutory tax rate | (4,608) | (149,606) | (3,332,691) | |||||||||
Impact of different tax rates in other jurisdictions | (988) | (32,059) | (81,864) | |||||||||
Effect of preferred tax rate | 3,621 | 117,548 | 2,136,292 | |||||||||
Tax effect of non-deductible expenses | - | - | 1,370,731 | |||||||||
Previous years unrecognized tax effects | - | - | (3,442) | |||||||||
Changes in valuation allowance | 1,975 | 64,117 | (89,026) | |||||||||
Total income tax expense | $ | - | $ | - | $ | - |
Name & Principal Position | Fiscal Year | Base Compensation (annual, unless otherwise noted) | Bonus | Share Award | Total Annual | |||||||||||||||
Kuangtao Wang1 | 2023 | $ | 180,000 | - | - | $ | 180,000 | |||||||||||||
Pricipal Executive Officer | 2022 | $ | - | - | - | $ | - | |||||||||||||
Yaobin Wang3 | 2023 | $ | 60,000 | $ | - | - | $ | 60,000 | ||||||||||||
Pricipal Financial Officer | 2022 | $ | - | $ | - | - | $ | - | ||||||||||||
Jianguang Qian4 | 2023 | $ | - | $ | - | - | $ | - | ||||||||||||
Former Pricipal Executive Officer | 2022 | $ | 43,947 | $ | - | - | $ | 43,947 | ||||||||||||
Zhirong Li5 | 2023 | $ | - | $ | - | - | $ | - | ||||||||||||
Former Chief Financial Officer | 2022 | $ | 9,000 | - | $ | - | $ | 9,000 |
For the Year | For the Year | For the Year | ||||||||||
Ended | Ended | Ended | ||||||||||
December 31, | December 31, | December 31, | ||||||||||
2023 | 2022 | 2021 | ||||||||||
Cash flows from operating activities: | ||||||||||||
Net loss from continuing operations | $ | (1,704,994) | $ | (9,641,098) | $ | (13,478,704) | ||||||
Net profit from discontinued operations | 6,908,558 | (712,414) | (16,594,807) | |||||||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||||
Share based compensation | - | - | 10,881,967 | |||||||||
Depreciation | - | - | 117 | |||||||||
Gain on extinguishment of debts | - | - | (1,143,952) | |||||||||
Changes in exchange rate | - | (13,417) | (612,693) | |||||||||
Non-marketable investment impairment | - | 9,296,754 | 1,333,506 | |||||||||
Changes in operating assets and liabilities (decrease)/increase in - continuing operations: | ||||||||||||
Other current assets | (656,373) | - | (27,659) | |||||||||
Loan receivables | (800,000) | - | - | |||||||||
Accrued expenses and other payables | 1,401,820 | 2,100,225 | (51,766) | |||||||||
Account receivable, net | - | - | (120,000) | |||||||||
Advances from customer | 1,600,769 | 2,705,750 | - | |||||||||
Net changes in operating assets and liabilities (decrease)/increase - discontinued operations | (7,066,731) | 343,507 | 3,701,842 | |||||||||
Net cash provided by/(used in) operating activities-continuing operations | (158,778) | 4,448,214 | (3,219,184) | |||||||||
Net cash provided by/(used in) operating activities-discontinued operations | (158,173) | (368,907) | (12,892,965) | |||||||||
Net cash provided by/(used in) operating activities | (316,951) | 4,079,307 | (16,112,149) | |||||||||
Cash flows from investing activities: | ||||||||||||
Purchase of property and equipment | - | 1,401 | (7,024) | |||||||||
Purchase of non-marketable investment | - | - | (500,000) | |||||||||
Disposal of subsidiaries, net of cash | 265,668 | - | - | |||||||||
Net cash provided by/(used in) investing activities-continuing operations | 265,668 | 1,401 | (507,024) | |||||||||
Net cash provided by/(used in) investing activities-discontinued operations | 61,376 | 127,805 | (457) | |||||||||
Net cash provided by/(used in) investing activities | 327,044 | 129,206 | (507,481) | |||||||||
Cash flows from financing activities: | ||||||||||||
(Repayment)/Proceeds from a short-term borrowing from a third party, net | (1,550,000) | 1,550,000 | - | |||||||||
Proceeds from stock option exercised | - | - | 180,485 | |||||||||
Proceeds from a private placement | - | 60,000,007 | 5,000,000 | |||||||||
Net cash provided by financing activities-continuing operations | (1,550,000) | 61,550,007 | 5,180,485 | |||||||||
Net cash provided by financing activities-discontinued operations | - | - | ||||||||||
Net cash provided by financing activities | (1,550,000) | 61,550,007 | 5,180,485 | |||||||||
Effect of exchange rate change on cash and cash equivalents, and restricted cash from continuing operations | - | (2,337) | (13,060) | |||||||||
Effect of exchange rate change on cash and cash equivalents, and restricted cash from discontinued operations | - | (643) | (548,845) | |||||||||
- | (2,980) | (561,905) | ||||||||||
Net change in cash and cash equivalents, and restricted cash from continuing operations | (1,443,110) | 65,997,285 | 1,441,217 | |||||||||
Net change in cash and cash equivalents, and restricted cash from discontinued operations | (96,797) | (241,745) | (13,442,267) | |||||||||
(1,539,907) | 65,755,540 | (12,001,050) | ||||||||||
Cash and cash equivalents, and restricted cash beginning balance from continuing operations | 67,500,438 | 1,503,153 | 61,936 | |||||||||
Cash and cash equivalents, and restricted cash beginning balance from discontinued operations | 96,797 | 338,542 | 13,780,809 | |||||||||
Cash and cash equivalents, and restricted cash beginning balance | 67,597,235 | 1,841,695 | 13,842,745 | |||||||||
Cash and cash equivalents, and restricted cash ending balance from continuing operations | 66,057,328 | 67,500,438 | 1,503,153 | |||||||||
Cash and cash equivalents, and restricted cash ending balance from discontinued operations | - | 96,797 | 338,542 | |||||||||
Cash and cash equivalents, and restricted cash ending balance | $ | 66,057,328 | $ | 67,597,235 | 1,841,695 | |||||||
Reclassification between continuing operations and discontinued operations | ||||||||||||
Cash flow reclassification - continuing operations | - | (1,138,811) | (1,230,002) | |||||||||
Cash flow reclassification - discontinued operations | - | 1,138,811 | 1,230,002 | |||||||||
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets | ||||||||||||
Cash and cash equivalents-continuing operations | $ | 61,750,809 | $ | 63,655,877 | 273,151 | |||||||
Restricted cash-continuing operations | 4,306,519 | 2,705,750 | - | |||||||||
Total cash and cash equivalents -continuing operations | 66,057,328 | 66,361,627 | 273,151 | |||||||||
Cash and cash equivalents-discontinued operations | - | 1,235,608 | 1,568,544 | |||||||||
Restricted cash – discontinued operations | - | - | - | |||||||||
Total cash, cash equivalents and restricted cash – discontinued operations | - | 1,235,608 | 1,568,544 | |||||||||
Total cash, cash equivalents, and restricted cash | $ | 66,057,328 | $ | 67,597,235 | 1,841,695 | |||||||
Supplemental cash flows information: | ||||||||||||
Cash received from interest-continuing operations | $ | 1,005,431 | $ | - | $ | - | ||||||
Cash received from interest-discontinued operations | $ | - | $ | - | - | |||||||
Cash paid for interest-continuing operations | $ | - | $ | - | - | |||||||
Cash paid for interest-discontinued operations | $ | - | $ | - | 86,795 | |||||||
Cash paid for income taxes-continuing operations | $ | - | $ | - | - | |||||||
Cash paid for income taxes-discontinued operations | $ | - | $ | - | 86,137 |