Future FinTech Group ( (FTFT) ) has released a notification of late filing.
Future FinTech Group Inc. has announced a delay in filing its Form 10-K (Yearly Report) for the fiscal year ending December 31, 2024. The primary reason cited for the delay is the additional time required to complete the preparation of the company’s financial statements. The company expects to file the report within fifteen calendar days following the prescribed due date. Financially, the company anticipates significant changes in its results of operations, with a notable decrease in revenue from $21.70 million in 2023 to $17.31 million in 2024, primarily due to reduced demand in China for sand, steel, and coal. Additionally, general and administrative expenses have increased significantly due to higher professional service fees and internal control training costs. Future FinTech Group is committed to ongoing compliance efforts, as indicated by the signature of Hu Li, Chief Executive Officer, on the notification.
More about Future FinTech Group
YTD Price Performance: -45.51%
Average Trading Volume: 4,295,180
Technical Sentiment Signal: Strong Buy
Current Market Cap: $3.53M
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