Notification That Annual Report Will Be Submitted Late (nt 10-k)
April 02 2018 - 3:00PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check one):
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Form 10-K
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Form 20-F
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Form
11-K
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Form 10-Q
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Form
10-D
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Form N-SAR
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Form
N-CSR
For Period Ended: December 31, 2017
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Transition Report on Form 10-K
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Transition Report on Form 20-F
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Transition Report on Form 11-K
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Transition Report on Form 10-Q
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Transition Report on Form N-SAR
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For the Transition Period Ended:
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
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If the notification relates to a portion
of the filing checked above, identify the Item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
Future
FinTech Group Inc
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Full Name of Registrant
N/A
Former Name if Applicable
23F, China Development Bank Tower
Address of Principal Executive Office
(Street and Number)
No. 2, Gaoxin 1st Road, Xi'an, China
710075
City, State and Zip Code
PART II — RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if
appropriate)
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(a)
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The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
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(b)
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The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
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PART III — NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K,
10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
The Company is unable to file this Annual
Report on Form 10-K for the fiscal year ended December 31, 2017 within the prescribed time period without unreasonable effort or
expense because additional time is required to complete the preparation of the Company's financial statements in time for filing.
The Company anticipates filing its Form 10-K on or before the fifteenth calendar day following the prescribed due date.
PART IV — OTHER INFORMATION
(1)
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Name and telephone number of person to contact in regard to this notification
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Crystal Lee
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011-86-29
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81878277
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(Name)
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(Area Code)
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(Telephone Number)
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(2)
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Have all other periodic reports required under Section 13 or
15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months
or for such shorter period that the registrant was required to file such report(s) been filed ? If answer is no, identify report(s).
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Yes
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No
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(3)
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Is it anticipated that any significant change in results of
operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in
the subject report or portion thereof?
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Yes
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No
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
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Future FinTech Group Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: April 2, 2018
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By:
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/s/ Yongke Xue
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Yongke Xue
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Title:
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Chief Executive Officer
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Anticipated Changes
We anticipate that we will report the following
changes in the results of operations from the 2017 fiscal year:
Revenue for the fiscal year ended December 31,
2017 was $9.89 million, compared to $34.41 million for 2016, a decrease of $24.52 million. The decrease is due to decreases of
sales in all the segments due to heavy market competition.
Operating expenses for the fiscal year
ended December 31, 2017 was $111.64 million, compared to $6.94 million for 2016, which was mainly due to $89.69 million impairment
loss with respect to construction in progress and fixed assets.
Net loss for the fiscal year ended December 31,
2017 was $126.98 million as compared to a loss of $5.55 million for 2016, an increase of $121.43 million. The increase in net loss
was primarily due to a decrease in sales and an increase in impairment expenses in fiscal year 2017. Please refer to the Company’s
Annual Report on Form 10-K that we expect to file on or before the 15th calendar day following April 2, 2018.
3
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