2023 Q4 Form 10-Q Financial Statement

#000149315223040330 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $419.0K $909.7K $2.915M
YoY Change -84.6% -68.8% 45.37%
Cost Of Revenue $331.9K $593.3K $1.401M
YoY Change -78.93% -57.64% 59.98%
Gross Profit $87.11K $316.4K $1.515M
YoY Change -92.4% -79.11% 34.05%
Gross Profit Margin 20.79% 34.78% 51.96%
Selling, General & Admin $2.142M $1.538M $487.6K
YoY Change -35.81% 215.45% -5.87%
% of Gross Profit 2458.75% 486.14% 32.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.06K $59.13K $215.3K
YoY Change -70.58% -72.54% 1.62%
% of Gross Profit 68.95% 18.69% 14.21%
Operating Expenses $2.150M $1.538M $487.6K
YoY Change -35.83% 215.45% -6.56%
Operating Profit -$2.063M -$1.222M $1.027M
YoY Change -6.43% -218.96% 68.92%
Interest Expense -$9.820K $10.29K $10.39K
YoY Change -4.84% -0.94% -351.53%
% of Operating Profit 1.01%
Other Income/Expense, Net $4.110K -$2.810K -$8.053K
YoY Change 3061.54% -65.11% -448.61%
Pretax Income -$2.513M -$1.225M $1.019M
YoY Change -38.09% -220.17% 68.09%
Income Tax $1.850K -$1.906K $108.4K
% Of Pretax Income 10.63%
Net Earnings -$2.462M -$1.109M $855.8K
YoY Change -33.36% -229.55% 119.44%
Net Earnings / Revenue -587.72% -121.87% 29.36%
Basic Earnings Per Share -$0.07 $0.05
Diluted Earnings Per Share -$0.16 -$0.07 $54.67K
COMMON SHARES
Basic Shares Outstanding 15.66M shares 15.66M shares 15.66M shares
Diluted Shares Outstanding 15.66M shares 15.66M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $288.3K $13.28K $239.4K
YoY Change 73.98% -94.45% 59.42%
Cash & Equivalents $288.3K $13.28K $239.4K
Short-Term Investments
Other Short-Term Assets $3.998M $6.919K $22.68K
YoY Change 86232.97% -69.49% -99.04%
Inventory $32.59K $59.24K $147.1K
Prepaid Expenses $3.996M $3.658M
Receivables $764.3K $4.303M $3.651M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.083M $5.743M $6.545M
YoY Change -26.02% -12.24% 33.93%
LONG-TERM ASSETS
Property, Plant & Equipment $395.9K $104.2K $110.0K
YoY Change 304.42% -5.27% -83.09%
Goodwill $431.3K $1.256M
YoY Change -65.66%
Intangibles $151.6K $198.8K $1.475M
YoY Change -59.12% -86.52%
Long-Term Investments
YoY Change
Other Assets $618.5K $605.6K $2.316M
YoY Change -44.84% -73.85% 22.98%
Total Long-Term Assets $1.166M $1.630M $5.551M
YoY Change -51.76% -70.63% -12.78%
TOTAL ASSETS
Total Short-Term Assets $5.083M $5.743M $6.545M
Total Long-Term Assets $1.166M $1.630M $5.551M
Total Assets $6.249M $7.374M $12.10M
YoY Change -32.72% -39.04% 7.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.211M $684.0K $155.0K
YoY Change 75.86% 341.16% -65.0%
Accrued Expenses $136.6K $625.2K $131.4K
YoY Change -72.81% 375.92% -17.84%
Deferred Revenue $1.364M $71.32K $176.2K
YoY Change 879.13% -59.53%
Short-Term Debt $0.00 $451.1K $413.2K
YoY Change -100.0% 9.18%
Long-Term Debt Due $458.0K $451.1K $413.2K
YoY Change 8.37% 9.18%
Total Short-Term Liabilities $3.852M $2.672M $1.719M
YoY Change 55.03% 55.44% -18.47%
LONG-TERM LIABILITIES
Long-Term Debt $212.0K $188.3K $89.42K
YoY Change 262.85% 110.6% -60.12%
Other Long-Term Liabilities $194.4K $179.3K $259.4K
YoY Change -20.67% -30.9% -23.67%
Total Long-Term Liabilities $406.4K $188.3K $89.42K
YoY Change 595.44% 110.6% -84.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.852M $2.672M $1.719M
Total Long-Term Liabilities $406.4K $188.3K $89.42K
Total Liabilities $4.129M $3.039M $2.068M
YoY Change 48.11% 47.0% -31.36%
SHAREHOLDERS EQUITY
Retained Earnings -$8.551M -$6.089M -$809.5K
YoY Change 89.84% 652.19%
Common Stock $11.08M $11.08M $11.08M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.120M $4.443M $9.588M
YoY Change
Total Liabilities & Shareholders Equity $6.249M $7.374M $12.10M
YoY Change -32.72% -39.04% 7.51%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$2.462M -$1.109M $855.8K
YoY Change -33.36% -229.55% 119.44%
Depreciation, Depletion And Amortization $60.06K $59.13K $215.3K
YoY Change -70.58% -72.54% 1.62%
Cash From Operating Activities $93.73K -$187.1K $31.00K
YoY Change -325.8% -703.61% -236.38%
INVESTING ACTIVITIES
Capital Expenditures -$610.00 $0.00 $0.00
YoY Change -106.03% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $610.00 $0.00 $0.00
YoY Change -106.03% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 75.27K 118.5K 157.5K
YoY Change -279.73% -24.76% -320.92%
NET CHANGE
Cash From Operating Activities 93.73K -187.1K 31.00K
Cash From Investing Activities 610.0 0.000 0.000
Cash From Financing Activities 75.27K 118.5K 157.5K
Net Change In Cash 169.6K -68.58K 188.5K
YoY Change -281.4% -136.37% -160.28%
FREE CASH FLOW
Cash From Operating Activities $93.73K -$187.1K $31.00K
Capital Expenditures -$610.00 $0.00 $0.00
Free Cash Flow $94.34K -$187.1K $31.00K
YoY Change -282.76% -703.61% -21.06%

Facts In Submission

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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
35475 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1137128 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
180037 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1948536 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
528652 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15655038 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15655038 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15655038 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15655038 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15655038 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15655038 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15655038 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15655038 shares
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6499909 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-89176 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
45472 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6456205 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-444829 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-422433 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5588943 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-1222744 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-31568 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4334631 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9464354 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
175959 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
10720 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9651033 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
788983 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-602321 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9837695 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9837695 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
910735 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
910735 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-719949 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10028481 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
10028481 usd
us-gaap Profit Loss
ProfitLoss
-1756749 usd
us-gaap Profit Loss
ProfitLoss
1875677 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
183809 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
648740 usd
FVTI Noncash Lease Expense
NoncashLeaseExpense
103902 usd
FVTI Noncash Lease Expense
NoncashLeaseExpense
122069 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2175928 usd
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
274184 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1374495 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-85143 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
80648 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
838488 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
608448 usd
us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-25423 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
12147 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
277134 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
30908 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-63540 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
72627 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-63197 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-178597 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
153430 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
153158 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-30633 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
95197 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-105292 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-111705 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-272944 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
48444 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4786 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
702 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5488 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
141967 usd
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
148606 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
138834 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
135499 usd
FVTI Proceeds From Third Party
ProceedsFromThirdParty
80338 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
154510 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
90578 usd
us-gaap Repayments Of Bank Debt
RepaymentsOfBankDebt
28053 usd
FVTI Repayments To Third Party
RepaymentsToThirdParty
28888 usd
FVTI Repayments To Third Party
RepaymentsToThirdParty
73878 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
161335 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
108002 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-35312 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-40166 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-152409 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
116280 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
165685 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
123163 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13276 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
239443 usd
us-gaap Interest Paid Net
InterestPaidNet
28546 usd
us-gaap Interest Paid Net
InterestPaidNet
21077 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
171532 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
126858 usd
FVTI Expense Paid By Related Parties On Behalf Of Company
ExpensePaidByRelatedPartiesOnBehalfOfCompany
135081 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
58249 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
74588 usd
FVTI Remeasurement Of Operating Lease Obligation And Rightofuse Assets Due To Lease Modifications
RemeasurementOfOperatingLeaseObligationAndRightofuseAssetsDueToLeaseModifications
22035 usd
FVTI Liabilities Assumed In Connection With Purchase Of Property And Equipment
LiabilitiesAssumedInConnectionWithPurchaseOfPropertyAndEquipment
28234 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1367548 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1758917 usd
CY2023Q3 FVTI Working Capital
WorkingCapital
3071808 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13276 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-6088707 usd
us-gaap Profit Loss
ProfitLoss
-1756749 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-272944 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zyz0qcgwKKCf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline"><span id="xdx_86E_zaOKzWm1BPPg">Use of estimates</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Significant accounting estimates include certain assumptions related to going concern, allowance of credit losses, allowance of deferred tax asset and uncertain tax position, implicit interest rate of operating leases, useful lives and impairment of long-lived assets, and impairment of goodwill. Actual results may differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
909719 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2915303 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3817605 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6513572 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
71315 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
139334 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
68717 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
157641 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
615911 usd
CY2023Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
4820610 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
4797564 usd
CY2023Q3 FVTI Accounts Receivable Net Current Allowance For Doubtful Accounts Current
AccountsReceivableNetCurrentAllowanceForDoubtfulAccountsCurrent
517244 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4303366 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4797564 usd
FVTI Allowance For Doubtful Accounts Additions
AllowanceForDoubtfulAccountsAdditions
535862 usd
FVTI Allowance For Doubtful Accounts Foreign Currency Translation Adjustment
AllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment
-18618 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
517244 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3657518 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3001866 usd
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
6919 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4631 usd
CY2023Q3 FVTI Prepaid Expense And Other Assets Current Gross
PrepaidExpenseAndOtherAssetsCurrentGross
3664437 usd
CY2022Q4 FVTI Prepaid Expense And Other Assets Current Gross
PrepaidExpenseAndOtherAssetsCurrentGross
3006497 usd
CY2023Q3 FVTI Prepaid Assets Allowance For Doubtful Accounts Current
PrepaidAssetsAllowanceForDoubtfulAccountsCurrent
2296889 usd
CY2022Q4 FVTI Prepaid Assets Allowance For Doubtful Accounts Current
PrepaidAssetsAllowanceForDoubtfulAccountsCurrent
1247580 usd
CY2022Q4 FVTI Prepaid Assets Allowance For Doubtful Accounts Current
PrepaidAssetsAllowanceForDoubtfulAccountsCurrent
1247580 usd
FVTI Prepaid Assets Allowance For Doubtful Accounts Additions
PrepaidAssetsAllowanceForDoubtfulAccountsAdditions
1152172 usd
CY2022 FVTI Prepaid Assets Allowance For Doubtful Accounts Additions
PrepaidAssetsAllowanceForDoubtfulAccountsAdditions
1284005 usd
FVTI Prepaid Assets Allowance For Doubtful Accounts Foreign Currency Translation Adjustment
PrepaidAssetsAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment
-102863 usd
CY2022 FVTI Prepaid Assets Allowance For Doubtful Accounts Foreign Currency Translation Adjustment
PrepaidAssetsAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment
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CY2023Q3 FVTI Prepaid Assets Allowance For Doubtful Accounts Current
PrepaidAssetsAllowanceForDoubtfulAccountsCurrent
2296889 usd
CY2022Q4 FVTI Prepaid Assets Allowance For Doubtful Accounts Current
PrepaidAssetsAllowanceForDoubtfulAccountsCurrent
1247580 usd
CY2023Q3 FVTI Deposits Assets Noncurrent Gross
DepositsAssetsNoncurrentGross
2258234 usd
CY2022Q4 FVTI Deposits Assets Noncurrent Gross
DepositsAssetsNoncurrentGross
2365652 usd
CY2023Q3 FVTI Deposits Assets Allowance For Doubtful Accounts
DepositsAssetsAllowanceForDoubtfulAccounts
1652625 usd
CY2022Q4 FVTI Deposits Assets Allowance For Doubtful Accounts
DepositsAssetsAllowanceForDoubtfulAccounts
1244350 usd
CY2023Q3 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
605609 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
1121302 usd
CY2022Q4 FVTI Deposits Assets Allowance For Doubtful Accounts
DepositsAssetsAllowanceForDoubtfulAccounts
1244350 usd
FVTI Deposits Paid Allowance For Doubtful Accounts Additions
DepositsPaidAllowanceForDoubtfulAccountsAdditions
487894 usd
CY2022 FVTI Deposits Paid Allowance For Doubtful Accounts Additions
DepositsPaidAllowanceForDoubtfulAccountsAdditions
1280681 usd
FVTI Deposits Paid Allowance For Doubtful Accounts Foreign Currency Translation Adjustment
DepositsPaidAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment
-79619 usd
CY2022 FVTI Deposits Paid Allowance For Doubtful Accounts Foreign Currency Translation Adjustment
DepositsPaidAllowanceForDoubtfulAccountsForeignCurrencyTranslationAdjustment
-36331 usd
CY2023Q3 FVTI Deposits Assets Allowance For Doubtful Accounts
DepositsAssetsAllowanceForDoubtfulAccounts
1652625 usd
CY2022Q4 FVTI Deposits Assets Allowance For Doubtful Accounts
DepositsAssetsAllowanceForDoubtfulAccounts
1244350 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
274505 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
242906 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
170280 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
145016 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
104225 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
97890 usd
us-gaap Depreciation
Depreciation
26168 usd
us-gaap Depreciation
Depreciation
32829 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2985746 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3145444 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1883226 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1822875 usd
CY2023Q3 FVTI Finite Lived Intangible Assets Impairment Loss
FiniteLivedIntangibleAssetsImpairmentLoss
903714 usd
CY2022Q4 FVTI Finite Lived Intangible Assets Impairment Loss
FiniteLivedIntangibleAssetsImpairmentLoss
951643 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
198806 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
370926 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
50886 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
136911 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4962 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4962 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1085 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
198806 usd
us-gaap Revenues
Revenues
87168 usd
us-gaap Revenues
Revenues
120632 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
497964 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
769387 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25 pure
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
94596 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
212274 usd
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.057 pure
us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.102 pure
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
the Company has twenty-one separate operating lease agreements for three office spaces, one warehouse and seventeen stores in PRC with remaining lease terms of from 1 month to 43 months
FVTI Lessee Operating Lease Term Extended
LesseeOperatingLeaseTermExtended
2026-09-30
us-gaap Operating Lease Cost
OperatingLeaseCost
111334 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
125182 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
116743 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
110768 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y7M9D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M21D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0323 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0323 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
27008 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
118512 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
105405 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
47012 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5498 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
303435 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14976 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
288459 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
639445 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
481091 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
451119 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
422653 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
188326 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
58438 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
28546 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
21077 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
44254 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
418306 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
21406 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
148317 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5372 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1790 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
639445 usd

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