Subsidiary and Acquisition Activities - The company completed the deregistration and dissolution of its VIE, E-Commerce Tianjin, on March 7, 2024, due to minimal revenue generation since 2021[148][158] - FTFT UK Limited acquired 100% of Khyber Money Exchange Ltd. for €685,000 on September 29, 2022, and renamed it FTFT Finance UK Limited[155] - Future FinTech (Hong Kong) Limited acquired 100% equity interest in Alpha International Securities (Hong Kong) Limited and Alpha Information Service (Shenzhen) Co., Ltd., approved by the SFC in August 2023[156] - The company established Future Trading (Chengdu) Co., Ltd. on April 14, 2022, focusing on bulk commodities supply chain financing services and trading[153] - The company acquired KAZAN S.A. in Paraguay for $288 on April 18, 2022, but dissolved it in December 2023 due to unsuccessful cryptocurrency mining business development[154] - The company operates nine directly controlled subsidiaries across various jurisdictions, including DigiPay FinTech Limited and FTFT UK Limited[160] Regulatory and Operational Approvals - FTFT UK Limited received approval to operate as an Electronic Money Directive (EMD) Agent in March 2022, registered with the UK Financial Conduct Authority[153] Financial Performance and Metrics - Supply chain financing/trading revenue increased by $0.33 million, a 298.71% growth from $0.11 million in Q1 2023 to $0.44 million in Q1 2024[174] - Asset management service revenue grew by $1.21 million, a 38.25% increase from $3.16 million in Q1 2023 to $4.37 million in Q1 2024[174] - Total revenue for Q1 2024 reached $5.12 million, a 52.27% increase from $3.36 million in Q1 2023[174] - Gross profit margin for asset management service improved to 38.3% in Q1 2024 from 33.4% in Q1 2023[177] - Supply chain financing/trading gross margin decreased to 10.0% in Q1 2024 from 95.5% in Q1 2023[177] - Total operating expenses decreased to 87.5% of revenue in Q1 2024 from 110.8% in Q1 2023[179] - Bad debt provision increased by $0.78 million in Q1 2024 compared to Q1 2023[180] - Research and development expenses decreased by $0.21 million in Q1 2024 compared to Q1 2023[181] - Net loss from continuing operations increased by $1.83 million to $3.97 million for the three months ended March 31, 2024[185] - Gain on disposal of discontinued operations was $0.65 million for the three months ended March 31, 2024[186] - Basic and diluted loss per share from continuing operations were $0.20 for the three months ended March 31, 2024[187] Cash Flow and Working Capital - Cash and restricted cash decreased to $14.89 million as of March 31, 2024 from $19.03 million as of December 31, 2023[188] - Working capital decreased to $36.78 million as of March 31, 2024 from $36.76 million as of March 31, 2023[188] - Net cash used in operating activities decreased by $2.12 million to $8.15 million for the three months ended March 31, 2024[188] - Net cash used in investing activities increased by $0.61 million to $0.80 million for the three months ended March 31, 2024[189] - Net cash provided by financing activities increased by $2.61 million to $2.55 million for the three months ended March 31, 2024[189] Legal and Regulatory Risks - The company faces legal and operational risks in China and Hong Kong, including regulatory changes and cybersecurity reviews, which could impact its business and stock value[150][151] - The company's disclosure controls and procedures were not effective as of March 31, 2024 due to a material weakness in internal control over financial reporting[192] Strategic Shifts and Corporate Actions - The company transitioned from fruit juice manufacturing to financial technology services due to increased production costs and environmental regulations in China[148] - The company implemented a 1-for-5 reverse stock split on February 1, 2023, reducing authorized shares from 300,000,000 to 60,000,000[157] Asset Management - NTAM managed approximately $359 million in assets as of March 31, 2024[167] Legal Awards - The company was awarded $10,598,379.93 in a legal case with FT Global Litigation, including $7,895,265.31 in damages[196]

Core Viewpoint - Future Fintech Group Inc. has entered into a hosting agreement with Tech Solution Inc. for Bitcoin mining services at its cryptocurrency farm in Norwalk, Ohio, which is expected to enhance its operational capabilities and generate substantial returns on investment [1][4]. Group 1: Agreement Details - The hosting agreement specifies that Tech Solution's Bitcoin miners will include models such as the Antminer S19j Pro, with a maximum total power load of 4.0 megawatts (MW), although the actual power load may vary [2]. - The monthly service fee will be based on the electricity consumption of Tech Solution's servers, calculated using an independent electrical meter, with the Unit Hosting Fee varying monthly according to the average Bitcoin price [2][3]. - The agreement is effective from April 15, 2024, to April 30, 2025, with billing commencing from the actual power-on date [3]. Group 2: Company Background - Future Fintech Group Inc. is a comprehensive financial and digital technology service provider, involved in asset management, brokerage, investment banking, and digital asset mining operations in the United States [5]. - The company aims to improve financial services through digital and internet technology, providing stable, safe, and efficient digital financial services to its customers [5].

Core Viewpoint - Penny stocks are expected to gain popularity among investors due to a decrease in the risk-free rate and anticipated growth in major indices like the S&P 500 and Nasdaq, creating a favorable environment for small-cap investments [1] Group 1: Penny Stocks Overview - Investors may consider penny stocks for short-term momentum plays or long-term holds, potentially leading to strong risk-adjusted returns in a bull market [1] - Three penny stocks are highlighted as having significant growth potential, each listed on a major U.S. exchange and demonstrating growth in core business fundamentals [2] Group 2: Ring Energy (REI) - Ring Energy (NYSE:REI) is an independent oil and natural gas exploration and production company with a record adjusted EBITDA of $65.4 million, showing solid growth from the previous quarter [3] - The stock trades at a low valuation of 1.12 times sales, dropping to 1.08 times on a forward basis, indicating it may be undervalued [3] - REI has generated $56.34 million in cash flow over the last 12 months, trading at around $2 per share, positioning it for potential future growth [4] Group 3: Future FinTech Group (FTFT) - Future FinTech Group (NASDAQ:FTFT) operates in the blockchain and fintech sectors, focusing on e-commerce solutions and cryptocurrency data [6] - FTFT plans to expand by opening a new cryptocurrency trading and asset management unit in Dubai [6] - The company reported a loss of 9.7 cents per share in its most recent quarterly results, a decline from a loss of 7 cents per share in the same quarter the previous year [6][7] Group 4: Transocean (RIG) - Transocean (NYSE:RIG) specializes in deep-water drilling and has a strong project backlog, projecting significant growth in Brazil [8] - The company plans to increase its rig count to 36 by the end of 2025 and expects to initiate 13 new drilling programs over the next 18 months [8] - RIG reported a revenue of approximately $2.837 billion in 2023, a 10% increase from the previous year, with projections of $3.591 billion in 2024, marking a 27% year-over-year growth [8] - Analysts have a price target average of $8.22 for RIG over the next twelve months, suggesting a potential upside of 45% from the current price [9]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _________ to _________ Commission File Number 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) Florida 98-0222013 (State or other ju ...

If you suffered losses exceeding $25,000 investing in Future FinTech stock or options between March 10, 2020 and January 11, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/FTFT. There is no cost or obligation to you. NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating pot ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Shares of Future FinTech Group FTFT, -3.07% fell after the Securities and Exchange Commission charged Shanchun Huang with allegedly inflating the company’s share price just before he took over as chief executive. The stock slipped 17% to $1.07 in after-hours trading Thursday. Shares are down over 48% over the past 12 months. The SEC alleged in a complaint Thursday that Huang used manipulative trading techniques in early 2020 to push the fintech firm’s share price up, with the goal of preventing it from b ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its | --- | --- | |-------|------------| | | | | | 98 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) 98-0222013 (I.R.S.Employer Identification Flo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Commission file number: 001-34502 Future FinTech Group Inc. (Exact name of registrant as specified in its charter) | --- | --- | |-------|------------------| | ...