Current Report Filing (8-k)
January 16 2018 - 3:11PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 16, 2018 (January 14, 2018)
Fortune
Valley Treasures, Inc.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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000-55555
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32-0439333
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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19F,
Lianhe Tower, 1069 Nanhai Ave,
Nanshan
District, Shenzhen, 518000, China
(Address
of Principal Executive Offices) (Zip Code)
(86)
75586961406
Registrant’s
telephone number, including area code
(Former
Name or Former Address
if
Changed Since Last Report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
5.03: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Yea
r.
On
January 14, 2018, the Board of Directors of Fortune Valley Treasures, Inc. (the “Company”) approved a change in the
fiscal year end from a fiscal year ending August 31 to a fiscal year ending December 31. The Company expects to make the fiscal
year change on a prospective basis and will not adjust operating results for prior periods. The change to the Company’s
fiscal year will not impact the Company’s calendar year results for the year ended August 31, 2017. However, the change
will impact the prior year comparability of each of the fiscal quarters and annual period in 2018 in future filings. The Company
believes this change will provide numerous benefits, including aligning its reporting periods to be more consistent with potential
subsidiary companies.
The
new fiscal year commenced January 1, 2018.
The
reporting periods and applicable reports for fiscal year 2018 are expected to be as follows:
FISCAL
PERIOD
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REPORTING
PERIOD
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REPORT
TO BE FILED
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Fiscal
year 2017
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January
1, 2017 to December 31, 2017
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Annual
Report on Form 10-K
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First
quarter of fiscal 2018
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January
1, 2018 to March 31, 2018
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Quarterly
Report on Form 10-Q
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Second
quarter of fiscal 2018
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April
1, 2018 to June 30, 2018
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Quarterly
Report on Form 10-Q
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Third
quarter of fiscal 2018
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July
1, 2018 to September 30, 2018
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Quarterly
Report on Form 10-Q
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Fiscal
year 2018
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January
1, 2018 to December 31, 2018
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Annual
Report on Form 10-K
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Financial
Impact
The
Company expects the change in fiscal year end to have no financial impact on the 2018 quarterly and annual financial results.
Forward-Looking
Statements
This
press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company,
statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The
words or phrases “plans,” “would be,” “will allow,” “intends to,” “may result,”
“are expected to,” “will continue,” “anticipates,” “expects,” “estimate,”
“project,” “indicate,” “could,” “potentially,” “should,” “believe,”
“think,” “considers” or similar expressions are intended to identify “forward-looking statements.”
These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected
in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based
on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders
that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our
industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties
related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees,
our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic
reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as
of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims
any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances
after the date of such statement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated:
January 16, 2018
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Fortune
Valley Treasures, Inc.
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/s/
Lin Yumin
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Lin
Yumin
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President,
Secretary, Chief Executive Officer, Director
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