Consolidated Statements of Operations and Comprehensive Loss (USD $)
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8 Months Ended |
12 Months Ended |
4 Months Ended |
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Sales |
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$ 7,123,458us-gaap_SalesRevenueNet |
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Cost of goods sold |
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4,197,958us-gaap_CostOfGoodsSold |
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Gross margin |
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2,925,500us-gaap_GrossProfit |
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Operating expenses: |
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Depreciation and amortization |
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10,207us-gaap_DepreciationAndAmortization |
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Selling and marketing |
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735,071us-gaap_OtherSellingAndMarketingExpense |
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General and administrative |
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1,590,610us-gaap_GeneralAndAdministrativeExpense |
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Professional fees |
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26,365us-gaap_ProfessionalFees |
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Total operating expenses |
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2,362,253us-gaap_OperatingExpenses |
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Income (loss) from operations |
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563,247us-gaap_IncomeLossFromContinuingOperations |
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Other income (expense) |
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Interest expense, net |
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10,893us-gaap_InterestIncomeExpenseNet |
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Other gains (losses) |
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Total other income (expense) |
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10,893us-gaap_OtherIncome |
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Income (loss) before income taxes |
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574,140us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic |
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Provision for income taxes (benefit) |
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237,134us-gaap_DeferredIncomeTaxExpenseBenefit |
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Net income (loss) |
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337,006us-gaap_NetIncomeLoss |
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Less: Accretion of preferred stock |
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139,436us-gaap_PreferredStockDividendsAndOtherAdjustments |
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Less: Net income attributable to noncontrolling interests |
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Net income (loss) attributable to ForceField Energy Inc. stockholders |
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197,570us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic |
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Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
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$ 0.16us-gaap_EarningsPerShareBasic |
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Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
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$ 0.16us-gaap_EarningsPerShareDiluted |
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Weighted-average number of common shares outstanding: |
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|
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Basic |
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1,252,403us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
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Diluted |
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1,252,403us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
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Comprehensive loss: |
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Net income (loss) |
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337,006us-gaap_NetIncomeLoss |
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Foreign curreny translation adjustment |
7,725us-gaap_ForeignCurrencyTransactionGainLossUnrealized |
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Comprehensive income (loss) |
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337,006us-gaap_ComprehensiveIncomeNetOfTax |
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Comprehensive income (loss) attributable to noncontrolling interests |
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Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders |
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337,006us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest |
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Successor |
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Sales |
7,519,803us-gaap_SalesRevenueNet / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Cost of goods sold |
5,146,001us-gaap_CostOfGoodsSold / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Gross margin |
2,373,802us-gaap_GrossProfit / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Operating expenses: |
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|
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Depreciation and amortization |
559,871us-gaap_DepreciationAndAmortization / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Selling and marketing |
733,495us-gaap_OtherSellingAndMarketingExpense / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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General and administrative |
3,236,270us-gaap_GeneralAndAdministrativeExpense / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Professional fees |
908,132us-gaap_ProfessionalFees / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Total operating expenses |
5,437,768us-gaap_OperatingExpenses / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Income (loss) from operations |
(3,063,966)us-gaap_IncomeLossFromContinuingOperations / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Other income (expense) |
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|
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Interest expense, net |
(463,934)us-gaap_InterestIncomeExpenseNet / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Other gains (losses) |
545,000us-gaap_OtherNonoperatingGainsLosses / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Total other income (expense) |
81,066us-gaap_OtherIncome / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Income (loss) before income taxes |
(2,982,900)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Provision for income taxes (benefit) |
(339,106)us-gaap_DeferredIncomeTaxExpenseBenefit / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Net income (loss) |
(2,643,794)us-gaap_NetIncomeLoss / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Less: Accretion of preferred stock |
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Less: Net income attributable to noncontrolling interests |
(1,747)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Net income (loss) attributable to ForceField Energy Inc. stockholders |
(2,645,541)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
$ (0.16)us-gaap_EarningsPerShareBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
$ (0.16)us-gaap_EarningsPerShareDiluted / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Weighted-average number of common shares outstanding: |
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|
|
Basic |
16,605,021us-gaap_WeightedAverageNumberOfSharesOutstandingBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
|
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Diluted |
16,605,021us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Comprehensive loss: |
|
|
|
Net income (loss) |
(2,643,794)us-gaap_NetIncomeLoss / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
|
|
Foreign curreny translation adjustment |
(7,725)us-gaap_ForeignCurrencyTransactionGainLossUnrealized / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
|
|
Comprehensive income (loss) |
(2,651,519)us-gaap_ComprehensiveIncomeNetOfTax / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
|
|
Comprehensive income (loss) attributable to noncontrolling interests |
(1,747)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
|
|
Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders |
(2,653,266)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest / us-gaap_BusinessAcquisitionAxis = us-gaap_SuccessorMember |
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Predecessor |
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Sales |
|
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1,611,213us-gaap_SalesRevenueNet / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Cost of goods sold |
|
|
1,138,827us-gaap_CostOfGoodsSold / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Gross margin |
|
|
472,386us-gaap_GrossProfit / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Operating expenses: |
|
|
|
Depreciation and amortization |
|
|
3,334us-gaap_DepreciationAndAmortization / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Selling and marketing |
|
|
193,148us-gaap_OtherSellingAndMarketingExpense / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
General and administrative |
|
|
485,670us-gaap_GeneralAndAdministrativeExpense / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Professional fees |
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|
37,317us-gaap_ProfessionalFees / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Total operating expenses |
|
|
719,469us-gaap_OperatingExpenses / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Income (loss) from operations |
|
|
(247,083)us-gaap_IncomeLossFromContinuingOperations / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Other income (expense) |
|
|
|
Interest expense, net |
|
|
5,567us-gaap_InterestIncomeExpenseNet / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Other gains (losses) |
|
|
|
Total other income (expense) |
|
|
5,567us-gaap_OtherIncome / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Income (loss) before income taxes |
|
|
(241,516)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Provision for income taxes (benefit) |
|
(221,381)us-gaap_DeferredIncomeTaxExpenseBenefit / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
2,100us-gaap_DeferredIncomeTaxExpenseBenefit / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Net income (loss) |
|
|
(243,616)us-gaap_NetIncomeLoss / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Less: Accretion of preferred stock |
|
|
31,054us-gaap_PreferredStockDividendsAndOtherAdjustments / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Less: Net income attributable to noncontrolling interests |
|
|
|
Net income (loss) attributable to ForceField Energy Inc. stockholders |
|
|
(274,670)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Basic earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
|
|
$ (0.22)us-gaap_EarningsPerShareBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Diluted earnings (loss) per common share attributable to ForceField Energy Inc. common stockholders: |
|
|
$ (0.22)us-gaap_EarningsPerShareDiluted / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Weighted-average number of common shares outstanding: |
|
|
|
Basic |
|
|
1,252,403us-gaap_WeightedAverageNumberOfSharesOutstandingBasic / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Diluted |
|
|
1,252,403us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Comprehensive loss: |
|
|
|
Net income (loss) |
|
|
(243,616)us-gaap_NetIncomeLoss / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Foreign curreny translation adjustment |
|
|
|
Comprehensive income (loss) |
|
|
(243,616)us-gaap_ComprehensiveIncomeNetOfTax / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |
Comprehensive income (loss) attributable to noncontrolling interests |
|
|
|
Comprehensive income (loss) attributable to ForceField Energy Inc. common stockholders |
|
|
$ (243,616)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest / us-gaap_BusinessAcquisitionAxis = us-gaap_PredecessorMember |