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 ...

Business Transformation and Acquisitions - Future FinTech has transformed its business from fruit juice manufacturing to a blockchain-based e-commerce platform and cryptocurrency services due to increased production costs and environmental regulations in China[168]. - The company acquired 100% equity interest in KAZAN S.A. for $288, planning to develop cryptocurrency mining services in Paraguay[169]. - FTFT UK Limited completed the acquisition of Khyber Money Exchange Ltd. for €685,000, enhancing its money transfer services[170]. - The company has expanded into cryptocurrency mining and market data services, diversifying its business model[168]. - FTFT Finance, acquired in September 2022, aims to develop global money remittance services and currently connects to over 130 countries[191][192]. Financial Performance - For the three months ended March 31, 2023, total revenue was $3,393,965, a decrease of 2.09% compared to $3,466,365 in the same period of 2022[200][201]. - Asset management service revenue decreased by 8.49% to $3,163,064 from $3,456,376 due to clients being cautious on investments in the current market conditions[201]. - Supply chain financing and trading revenue was $110,798, marking the introduction of this service as a new revenue stream[201]. - Revenue from other services increased significantly by 1102.30% to $120,103 from $9,989, indicating a successful expansion in this area[201]. - Total gross profit for Q1 2023 was $1,207,637, a decrease of 32.3% from $1,787,977 in Q1 2022, with a gross margin decline from 51.6% to 35.6%[206]. - Asset management service gross profit decreased from $1,777,988 in Q1 2022 to $1,056,307 in Q1 2023, with gross margin dropping from 51.4% to 33.4%[206]. - Net loss decreased from $2.70 million in Q1 2022 to $2.25 million in Q1 2023, primarily due to reduced operating expenses[215]. - Basic and diluted loss per share improved from $0.19 in Q1 2022 to $0.15 in Q1 2023[216]. - Cash and restricted cash decreased from $29.74 million as of December 31, 2022, to $19.80 million as of March 31, 2023[217]. - Net cash used in operating activities increased to $10.44 million in Q1 2023 from $0.64 million in Q1 2022, mainly due to increased advances to suppliers[218]. Operational Changes and Challenges - The company transformed its Chain Cloud Mall from a member-based platform to a sales agent-based eCAAS platform due to a lack of new member subscriptions caused by COVID-19 restrictions[183][196]. - The company began providing supply chain financing services for coal and aluminum ingots starting in Q2 2021, and expanded to sand and steel in Q1 2023[184]. - The company has faced significant operational disruptions due to COVID-19, impacting supply chains and customer purchasing behavior[196][198]. - Supply chain financing/trading increased from $0 in Q1 2022 to $105,854 in Q1 2023, with COVID-19 restrictions lifted in China[203]. Regulatory and Compliance Issues - Recent regulatory changes in China could impact the company's ability to offer securities to foreign investors, potentially affecting stock value[176]. - The company is subject to new overseas listing rules, which may require filings with the CSRC for future offerings[177]. - The share transfer agreement with Alpha Financial Limited is pending approval from the Securities and Futures Commission of Hong Kong[172]. - The company has received all required permissions from Chinese authorities to operate its current business, including necessary licenses[177]. - Future Fintech Group Inc. has filed certifications for its Principal Executive Officer and Principal Financial Officer as required by the Securities Exchange Act of 1934[231]. - The certifications were signed by Shanchun Huang (CEO) and Ming Yi (CFO) on May 22, 2023[232]. Expenses and Financial Metrics - Total operating expenses for Q1 2023 were $3,836, an increase of 4.5% from $4,464 in Q1 2022, with general and administrative expenses rising by 2.0%[208]. - Research and development expenses decreased from $433 in Q1 2022 to $209 in Q1 2023, reflecting a reduction in salaries[210]. - Other expenses, net increased to $0.41 million in Q1 2023 from $0.17 million in Q1 2022, primarily due to higher interest expenses[211]. - No specific financial performance metrics or user data were provided in the extracted content[229].

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, 2022 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 ...