Fortune Valley Treasures(FVTI) - 2023 Q2 - Quarterly Report

Related Party Transactions As of June 30, 2023 and December 31, 2022, the Company had accounts receivable from related parties in the amounts of $72,372 and$146,087, prepayments to related parties in the amounts of $1,162,622 and$1,102,861, deposits to related parties in the amounts of $573,584 and$758,445, and accounts payable to related parties in amounts of $107,454 and$80,426, respectively. During the six months ended June 30, 2023 and 2022, the Company sold products to its related parties in the am ...