10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended February 28, 2017

Or

[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

Commission File Number: 333-200760

FORTUNE VALLEY TREASURES, INC.

(Exact name of registrant as specified in its charter)

Nevada	32-0439333
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
19F,Lianhe Tower, 1069 Nanhai Ave, NanshanDistrict, Shenzhen, 518000, China	518000
(Address of principal executive offices)	(Zip Code)

(86)75586961406

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [  ].

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	[  ]		Accelerated filer	[  ]
Non-accelerated filer	[  ]	(Do not check if a smaller reporting company)	Smaller reporting company	[X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [X] No [  ]

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date.

Class	Shares outstanding as of April 19, 2017
Common stock, $0.001 par value	7,750,000

TABLE OF CONTENTS

		PAGE
PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	8
Item 3.	Quantitative and Qualitative Disclosure About Market Risk	12
Item 4.	Controls and Procedures	12
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	13
Item 1A.	Risk Factors	13
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	13
Item 3.	Defaults Upon Senior Securities	13
Item 4.	Mine Safety Disclosures	13
Item 5.	Other Information	13
Item 6.	Exhibits	13
Signatures		14

2

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

The accompanying unaudited interim financial statements of Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.) as of February 28, 2017, have been prepared by our management in conformity with accounting principles generally accepted in the United States of America and in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders’ equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

Operating results for the six-month period ended February 28, 2017 are not necessarily indicative of the results that can be expected for the year ending August 31, 2016.

As used in this Quarterly Report, the terms “we,” “us,” “our,” “Fortune Valley,” and the “Company” mean Fortune Valley Treasures, Inc. unless otherwise indicated. All dollar amounts in this Quarterly Report are expressed in U.S. dollars, unless otherwise indicated.

3

Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.)

Balance Sheets

	February 28, 2017			August 31, 2016
	(Unaudited)
ASSETS
Current Assets
Prepaid expenses	$	12,678		$	8,833
Total Current Assets	$	12,678		$	8,833
Total Assets	$	12,678		$	8,833
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued liabilities	$	13,897		$	20,150
Due to related party		45,830			3,000
Total Current Liabilities		59,727			23,150
Total Liabilities	$	59,727		$	23,150
Stockholders’ Deficit
Common stock authorized: 75,000,000 shares, par value $0.001, 7,750,000 common shares issued and outstanding as of February 28, 2017 and August 31, 2016, respectively		7,750			7,750
Additional paid-in capital		81,729			71,229
Accumulated deficit		(136,528	)		(93,296	)
Total Stockholders’ Deficit		(47,049	)		(14,317	)
Total Liabilities and Stockholders’ Deficit	$	12,678		$	8,833

The accompanying notes are an integral part of these unaudited financial statements

4

Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.)

Statements of Operations

(Unaudited)

	For the Three Months Ended			For the Three Months Ended			For the Six Months Ended			For the Six Months Ended
	February 28, 2017			February 29, 2016			February 28, 2017			February 29, 2016
Revenues	$	-		$	-		$	-		$	-
Expenses
General and administrative expenses		24,678			4,041			43,232			29,166
Total operating expenses		24,678			4,041			43,232			29,166
Loss from operations	$	(24,678	)	$	(4,041	)	$	(43,232	)	$	(29,166	)
Other income (expense)	$	-		$	-		$	-		$	-
Net loss	$	(24,678	)	$	(4,041	)	$	(43,232	)	$	(29,166	)
Net Loss Per Common Share – Basic and Diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted Average Common Shares Outstanding		7,750,000			7,750,000			7,750,000			7,750,000

The accompanying notes are an integral part of these unaudited financial statements

5

Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.)

Statements of Cash Flows

(Unaudited)

	For the Six Months Ended
	February 28, 2017			February 29, 2016
Cash Flows From Operating Activities:
Net loss	$	(43,232	)	$	(29,166	)
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in operating assets and liabilities:					1,500
Loan forgiven by former shareholder		(10,500	)		-
Expenses paid by related party on behalf of the Company		42,830
Prepaid expense		(3,845	)		-
Accounts payable		4,247			-
Cash Used in Operating Activities		-			(27,666	)
Net Decrease in Cash and Cash Equivalents		-			(27,666	)
Cash and Cash Equivalents at Beginning of period		-			42,492
Cash and Cash Equivalents at End of Period	$	-		$	14,826
Supplemental Disclosures of Cash Flow Information:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-
Non-Cash Investing and Financing Activity:
Loan forgiven by former shareholder	$	10,500		$	-

The accompanying notes are an integral part of these unaudited financial statements

6

Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.)

Notes to Financial Statements

(Unaudited)

1. Nature of Operations

Fortune Valley Treasures, Inc., formerly Crypto-Services, Inc., was incorporated in the State of Nevada as a for-profit company on March 21, 2014 and established a fiscal year end of August 31. The Company is an early stage company which intended to offer an information based website at www.digitalcoindaily.com that would provide users with up to date information on the world of digital currencies.

Gordon Hum, the Company’s director, President, Treasurer, Secretary, Chief Executive Officer, Chief Financial Officer and holder of 3,500,000 shares of the Company’s common stock representing approximately 45.16% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to twelve unrelated third parties all of his securities of the Company, for aggregate cash consideration of $35,000. On the same day, Edwin Jong, the Company’s director, Vice President and holder of 1,500,000 shares of the Company’s common stock representing approximately 19.35% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to five unrelated third parties all of his securities of the Company, for aggregate cash consideration of $15,000. In connection with the sales of the Company’s securities, Gordon Hum and Edwin Jong resigned from all of their positions with the Company effective August 3, 2016. Concurrently, Xinlong Shen was appointed to serve as the sole director, President, Treasurer, Secretary, Chief Executive Officer and Chief Financial Officer of the Company. Effective December 14, 2016, the Company accepted the resignation of Xinlong Shen from the position of President, Secretary and Treasurer. He will remain on the Board as a director. Also effective December 14, 2016, the Company appointed Yumin Lin as the new President, Secretary and Treasurer. He will also serve as a director.

Effective August 28, 2016, shareholders of Crypto-Services, Inc. representing 54.19% of the Company’s issued stock approved changing the Company’s name from Crypto-Services, Inc., to Fortune Valley Treasures, Inc. The Company filed a Certificate of Amendment with the State of Nevada on September 21, 2016. Effective March 29, 2017, we received formal notification from FINRA that our request to change the Company name from Crypto-Services, Inc. to Fortune Valley Treasures, Inc. and to change our trading symbol from CRYT to FVTI have been approved. On March 30, 2017 our name and symbol change took effect with FINRA and on the OTCMarkets OTCQB platform.

Effective December 14, 2016, the Company executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets of DaXingHuaShang Investment Group Limited (“DIGL”), a company incorporated under the laws of Republic of Seychelles. Pursuant to the Agreement, the Company has agreed to issue 300 million shares of the Company to DIGL to acquire 100% of the shares and assets for a cost of $12 million reflecting the value of the rights, titles and interests in the business assets and all attendant or related assets of DIGL. Both partied agreed that this share issuance by the Company represents payment in full of the $12 million. As of the February 28, 2017, the agreement has not been closed and the Company has not yet increased the authorized shares and issue the 300 million shares.

2. Going Concern

These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended February 28, 2017, the Company had recurring losses and net cash used in operations, and had accumulated deficit of $136,528 as of February 28, 2017. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

3. Basis of Presentation

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the year ended August 31, 2016 contained in the Company’s Form 10-K/A filed with the Securities and Exchange Commission on February 17, 2017. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the interim financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the Company’s Form 10-K/A have been omitted. These financial statements and notes are presented in accordance with accounting principles generally accepted in the United States. The Company’s fiscal year end is August 31.

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4. Related Party Transactions

a)	Our former CEO Gordon Hum assumed $10,500 accrued liabilities occurred before his resignation on August 3, 2016 and paid off on November 30, 2016. Gordon Hum forgave the repayment of $10,500 from the Company, which was recorded as gain on liabilities paid by former shareholder.
b)	As of February 28, 2017, the Company was indebted to the then-CEO Xinlong Shen in the amount of $45,830, which is non-interest bearing, unsecured, and due on demand. This is an advance from Xinlong Shen to finance the operation of the Company.
c)	A friend of Xinlong Shen provided non-compensated financial reporting services from August 2016 to February, 2017.
d)	Our principal executive office of the Company is provided by a friend of Xinlong Shen at no charge.

5. Subsequent Event

Effective December 14, 2016, the Company executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets of DaXingHuaShang Investment Group Limited (“DIGL”), a company incorporated under the laws of Republic of Seychelles. Pursuant to the Agreement, the Company has agreed to issue 300 million shares of the Company to DIGL to acquire 100% of the shares and assets for a cost of $12 million reflecting the value of the rights, titles and interests in the business assets and all attendant or related assets of DIGL. Both parties agreed that this share issuance by the Company represents payment in full of the $12 million. As of February 28, 2017, the agreement has not been closed and the Company has not yet increased the authorized shares and issue the 300 million shares.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like “believe”, “expect”, “estimate”, “anticipate”, “intend”, “project” and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our predictions.

We qualify as an “emerging growth company” under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

● have an auditor report on our internal controls over financial reporting pursuant to Section 404(b) of the Sarbanes-Oxley Act;

● comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (i.e., an auditor discussion and analysis); ·

● submit certain executive compensation matters to shareholder advisory votes, such as “say-on-pay” and “say-on-frequency;” and

● disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation.

In addition, Section 107 of the JOBS Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an emerging growth company can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected to take advantage of the benefits of this extended transition period. Our financial statements may therefore not be comparable to those of companies that comply with such new or revised accounting standards.

We will remain an “emerging growth company” for up to five years, or until the earliest of (i) the last day of the first fiscal year in which our total annual gross revenues exceed $1 billion, (ii) the date that we become a “large accelerated filer” as defined in Rule 12b-2 under the Securities Exchange Act of 1934, which would occur if the market value of our ordinary shares that is held by non-affiliates exceeds $700 million as of the last business day of our most recently completed second fiscal quarter or (iii) the date on which we have issued more than $1 billion in non-convertible debt during the preceding three year period.

8

Overview

Fortune Valley Treasures, Inc. (the “Company”), formerly Crypto-Services, Inc. was incorporated in the State of Nevada as a for-profit company on March 21, 2014 and established a fiscal year end of August 31. The Company is an early stage company which intended to offer an information based website at www.digitalcoindaily.com that would provide users with up to date information on the world of digital currencies.

Gordon Hum, the Company’s director, President, Treasurer, Secretary, Chief Executive Officer, Chief Financial Officer and holder of 3,500,000 shares of the Company’s common stock representing approximately 45.16% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to twelve unrelated third parties all of his securities of the Company, for aggregate cash consideration of $35,000. On the same day, Edwin Jong, the Company’s director, Vice President and holder of 1,500,000 shares of the Company’s common stock representing approximately 19.35% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to five unrelated third parties all of his securities of the Company, for aggregate cash consideration of $15,000. In connection with the sales of the Company’s securities, Gordon Hum and Edwin Jong resigned from all of their positions with the Company effective August 3, 2016. Concurrently, Xinlong Shen was appointed to serve as the sole director, President, Treasurer, Secretary, Chief Executive Officer and Chief Financial Officer of the Company. Effective December 14, 2016, Company accepted the resignation of Xinlong Shen from the position of President, Secretary and Treasurer. He will remain on the Board as a director. Also effective December 14, 2016, the Company appointed Yumin Lin as the new President, Secretary and Treasurer. He will also serve as a director.

Effective August 28, 2016, shareholders of the Company representing 54.19% of the Company’s issued stock approved changing the Company’s name from Crypto-Services, Inc., to Fortune Valley Treasures, Inc. The Company filed a Certificate of Amendment with the State of Nevada on September 21, 2016. Effective March 29, 2017, we received formal notification from FINRA that our request to change the Company name from Crypto-Services, Inc. to Fortune Valley Treasures, Inc. and to change our trading symbol from CRYT to FVTI have been approved.

On March 30, 2017 our name and symbol change took effect with FINRA and on the OTC Markets OTCQB platform.

Effective December 14, 2016, the Company has accepted the resignation of Xinlong Shen from the position of President, Secretary and Treasurer. He will remain on the Board as a Director.

Also effective December 14, 2016, the Company announced the appointment of Yumin Lin to the Board of Directors in the position of President, Secretary and Treasurer. He will also serve as a Director.

We have had limited operations and have been issued a “going concern” opinion by our auditor, based upon our reliance on the sale of our common stock as the sole source of funds for our future operations.

Plan of Operation

We are an early stage company devoting substantially all of our efforts to establishing a new business for which our planned principal operations have not yet commenced. We believe our current equity at risk is sufficient to finance our current activities.

Our auditors have issued a going concern opinion on our audited financial statements for the year ended August 31, 2016.This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated until we launch our business platform. There is no assurance we will ever reach this point. Accordingly, we must raise cash from other sources. Our only other source for cash at this time is investments by others or loans from our shareholders or officers. We have no assurances that such loans will become available upon acceptable terms when the funds are required for our operations.

Results of Operations

Our operating results for the three months ended February 28, 2017 and 2016 are summarized in the table below.

	For the Three Months Ended February 28, 2017			For the Three Months Ended February 29, 2016			For the Six Months Ended February 28, 2017			For the Six Months Ended February 29, 2016
Revenue	$	-		$	-		$	-		$	-
General and administrative	$	24,678		$	4,041		$	43,232		$	29,166
Net Loss	$	(24,678	)	$	(4,041	)	$	(43,232	)	$	(29,166	)

9

Revenues

We did not generate any revenue during the three-month period and six-month period ended February 28, 2017 and 2016.

Operating Expenses

Our expenses were $43,232 for the six months ended February 28, 2017 as compared to $29,166 for the six months ended February 29, 2016. The increase for the six months was directly related to the expenses related to consulting and professional fees related to our reporting responsibilities with the Securities and Exchange Commission (the “SEC”).

Our expenses were $24,678 for the three months ended February 28, 2017 as compared to $4,041 for the three months ended February 29, 2016. The increase for the three months is related to consulting and professional fee related to our reporting responsibilities with the SEC.

Capital Resources and Liquidity

Working Capital

	February 28, 2017			August 31, 2016
Current Assets	$	12,678		$	8,833
Current Liabilities	$	59,727		$	23,150
Working Capital (Deficiency)	$	(47,049	)	$	(14,317	)

Current Assets was $12,678 ended February 28, 2017 as compared to $8,833 ended August 31, 2016. The increase was due to increase in prepaid expense to OTC markets, for our annual quotation fee for the OTCBB. Current liabilities was $59,727 as of February 28, 2017 compared to $23,150 as of August 31, 2016. The increase was mainly due to an increase of $42,830 for amounts owing to a related party for paying operating expenses of the Company.

Cash Flows

	For the Six Months Ended,
	February 28, 2017		February 29, 2016
Net cash used in operating activities	$	-	$	(27,666	)
Net cash used in investing activities	$	-	$	-
Net cash provided by financing activities	$	-	$	-
Net change in cash	$	-	$	(27,666	)

Net cash used in operations was $0 for the six-months period ended February 28, 2017 compared to $27,666 for the period ended February 29, 2016. The decrease in cash outflow is because of operating expense being paid by a related party. As of February 28, 2017, the Company was indebted to this related party in the amount of $42,830, which is non-interest bearing, unsecured, and due on demand.

Net cash used in investing activities and financing activities was $0 for the period ended February 28, 2017 and the period ended February 29, 2016.

We have substantial capital resource requirements and have incurred significant losses since inception. As of February 28, 2017, we had $0 in cash. Based upon our current business plans, we will need considerable cash investments to be successful. Such capital requirements are in excess of what we have in available cash and what we currently have commitment for. Therefore, we do not have enough available cash to meet our obligations over the next twelve (12) months.

10

Anticipated Cash Requirements

We will require additional funds to fund our budgeted expenses over the next 12 months. These funds may be raised through, equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares.

We anticipate that our cash expenses over the next 12 months will be approximately $50,000 as described in the table below. These estimates may change significantly depending on the nature of our business activities and our ability to raise capital from our shareholders or other sources.

Description	Estimated Expenses
Legal and accounting fees	$	34,000
Marketing and advertising		-
Investor relations and capital raising		-
Management and operating costs		-
Salaries and consulting fees		15,000
General and administrative expenses		1,000
Total	$	50,000

Our general and administrative expenses for the year will consist primarily of transfer agent fees, bank and interest charges and general office expenses. The professional fees are related to our regulatory filings throughout the year and include legal, accounting and auditing fees.

Based on our planned expenditures, we will require approximately $50,000 to proceed with our business plan over the next 12 months. As of February 28, 2017, we had $0 cash on hand. If we secure less than the full amount of financing that we require, we will not be able to carry out our complete business plan and we will be forced to proceed with a scaled back business plan based on our available financial resources.

We intend to raise the balance of our cash requirements for the next 12 months from private placements, shareholder loans or possibly a registered public offering (either self-underwritten or through a broker-dealer). If we are unsuccessful in raising enough money through such efforts, we may review other financing possibilities such as bank loans. At this time we do not have a commitment from any broker-dealer to provide us with financing. There is no assurance that any financing will be available to us or if available, on terms that will be acceptable to us.

Even though we plan to raise capital through equity or debt financing, we believe that the latter may not be a viable alternative for funding our operations as we do not have sufficient tangible assets to secure any such financing. We anticipate that any additional funding will be in the form of equity financing from the sale of our common stock. However, we do not have any financing arranged and we cannot provide any assurance that we will be able to raise sufficient funds from the sale of our common stock to finance our operations. In the absence of such financing, we may be forced to abandon our business plan.

Going Concern

During the period ended February 28, 2017, the Company had net operating loss and net cash used in operation, and had accumulated deficit of $136,528 as of February 28, 2017. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Off-balance sheet arrangements

The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect or change on the Company’s financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors. The term “off-balance sheet arrangement” generally means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Company is a party, under which the Company has (i) any obligation arising under a guarantee contract, derivative instrument or variable interest; or (ii) a retained or contingent interest in assets transferred to such entity or similar arrangement that serves as credit, liquidity or market risk support for such assets.

11

Item 3. Quantitative and Qualitative Disclosure About Market Risk.

Not applicable because we are a smaller reporting company.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures, as defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and that such information is accumulated and communicated to our management, including our president (our principal executive officer and principal financial officer), as appropriate to allow timely decisions regarding required disclosure.

We carried out an evaluation, under the supervision and with the participation of our management, including our president (our principal executive officer and principal financial officer), of the effectiveness of the design and operation of our disclosure controls and procedures as of quarter covered by this report. Based on the evaluation of these disclosure controls and procedures the president (our principal executive officer and principal financial officer and principal accounting officer) concluded that our disclosure controls and procedures were not effective as of the end of the period covered by this quarterly report due to we did not maintain effective controls over the control environment. Specifically, the Board does not currently have a director who qualifies as an audit committee financial expert as defined in Item 407(d)(5)(ii) of Regulation S-K. The Company does not have sufficient written policies and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines. The Company also lacks accounting personnel with technical knowledge in certain debt and equity transactions and qualified personnel with an appropriate level of SEC filing knowledge and experience. Because of the size of the Company’s administrative staff, controls related to the segregation of certain duties have not been developed and the Company has not been able to adhere to them. Additionally, the Company does not have a well-established procedure to identify, approve, and report related party transactions. The Company filed a Form 10-K on December 13, 2016 without obtaining the approval of the Company’s auditors. Since these entity level programs have a pervasive effect across the organization, management has determined that these circumstances constitute a material weakness.

Changes in Internal Controls

During the quarter covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II - OTHER INFORMATION

Item 1. Legal Proceedings.

None.

Item 1A. Risk Factors.

Not applicable because we are a smaller reporting company.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

None.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not applicable.

Item 5. Other Information.

None.

Item 6. Exhibits.

Exhibit No.	Description
31.1	Certification Required by Rule 13a-14(a) (17 CFR 240.13a-14(a))
32.1	Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 *
101.INS	XBRL Instance Document †
101.SCH	XBRL Taxonomy Extension Schema Document †
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document †
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document †
101.LAB	XBRL Taxonomy Extension Label Linkbase Document †
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document †
*	In accordance with SEC Release 33-8238, Exhibits 32.1 is furnished and not filed.
†	Furnished herewith. XBRL (eXtensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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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 thereunto duly authorized.

	FORTUNE VALLEY TREASURES, INC. .
Date: April 19, 2017	By:	/s/ Yumin Lin
		Yumin Lin Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial Officer)

14

EX-31.1

Exhibit 31.1

CERTIFICATION

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF

THE SARBANES-OXLEY ACT OF 2002

I, Yumin Lin, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.) (the “Registrant”):

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13-a13a-15(f) and 15d-15(f)) for the Registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the Registrant’s disclosure controls and procedures; and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Dated: April 19, 2017	By:	/s/ Yumin Lin
		Yumin Lin
		Chief Executive Officer & Chief Financial Officer (Principal Executive & Financial Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U. S. C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Fortune Valley Treasures, Inc. (formerly Crypto-Services, Inc.) (the “Company”) on Form 10-Q for the period ended February 28, 2017 (the “Report”), I, Yumin Lin, Chief Executive Officer and Chief Financial Officer of the Company, hereby certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: April 19, 2017	By:	/s/ Yumin Lin
		Yumin Lin
		Chief Executive Officer & Chief Financial Officer (Principal Executive & Financial Officer)

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Document and Entity Information - shares	6 Months Ended
	Feb. 28, 2017	Apr. 19, 2017
Document and Entity Information:
Entity Registrant Name	Fortune Valley Treasures, Inc.
Entity Central Index Key	0001626745
Document Type	10-Q
Document Period End Date	Feb. 28, 2017
Amendment Flag	false
Current Fiscal Year End Date	--08-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		7,750,000
Trading Symbol	FVTI
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2017

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Balance Sheets - USD ($)	Feb. 28, 2017	Aug. 31, 2016
Current Assets
Prepaid expenses	$ 12,678	$ 8,833
Total Current Assets	12,678	8,833
Total Assets	12,678	8,833
Current Liabilities
Accounts payable and accrued liabilities	13,897	20,150
Due to related party	45,830	3,000
Total Current Liabilities	59,727	23,150
Total Liabilities	59,727	23,150
Stockholders' Deficit
Common stock authorized: 75,000,000 shares, par value $0.001, 7,750,000 common shares issued and outstanding as of February 28, 2017 and August 31, 2016, respectively	7,750	7,750
Additional paid-in capital	81,729	71,229
Accumulated deficit	(136,528)	(93,296)
Total Stockholders' Deficit	(47,049)	(14,317)
Total Liabilities and Stockholders' Deficit	$ 12,678	$ 8,833

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Balance Sheets (Parenthetical) - $ / shares	Feb. 28, 2017	Aug. 31, 2016
Statement of Financial Position [Abstract]
Common stock, shares authorized	75,000,000	75,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares issued	7,750,000	7,750,000
Common stock, shares outstanding	7,750,000	7,750,000

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Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017	Feb. 29, 2016
Income Statement [Abstract]
Revenues
Expenses
General and administrative expenses	24,678	4,041	43,232	29,166
Total operating expenses	24,678	4,041	43,232	29,166
Loss from operations	(24,678)	(4,041)	(43,232)	(29,166)
Other income (expense)
Net loss	$ (24,678)	$ (4,041)	$ (43,232)	$ (29,166)
Net Loss Per Common Share – Basic and Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted Average Common Shares Outstanding	7,750,000	7,750,000	7,750,000	7,750,000

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Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Cash Flows From Operating Activities:
Net loss	$ (43,232)	$ (29,166)
Changes in operating assets and liabilities:
Loan forgiven by former shareholder	(10,500)	1,500
Expenses paid by related party on behalf of the Company	42,830
Prepaid expense	(3,845)
Accounts payable	4,247
Cash Used in Operating Activities		(27,666)
Net Decrease in Cash and Cash Equivalents		(27,666)
Cash and Cash Equivalents at Beginning of period		42,492
Cash and Cash Equivalents at End of Period		14,826
Supplemental Disclosures of Cash Flow Information:
Interest paid
Income taxes paid
Non-Cash Investing and Financing Activity:
Loan forgiven by former shareholder	$ 10,500

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Nature of Operations

6 Months Ended

Feb. 28, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations

1. Nature of Operations

Fortune Valley Treasures, Inc., formerly Crypto-Services, Inc., was incorporated in the State of Nevada as a for-profit company on March 21, 2014 and established a fiscal year end of August 31. The Company is an early stage company which intended to offer an information based website at www.digitalcoindaily.com that would provide users with up to date information on the world of digital currencies.

Gordon Hum, the Company’s director, President, Treasurer, Secretary, Chief Executive Officer, Chief Financial Officer and holder of 3,500,000 shares of the Company’s common stock representing approximately 45.16% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to twelve unrelated third parties all of his securities of the Company, for aggregate cash consideration of $35,000. On the same day, Edwin Jong, the Company’s director, Vice President and holder of 1,500,000 shares of the Company’s common stock representing approximately 19.35% of the Company’s issued and outstanding securities, entered into a Stock Purchase Agreement, pursuant to which he agreed to sell to five unrelated third parties all of his securities of the Company, for aggregate cash consideration of $15,000. In connection with the sales of the Company’s securities, Gordon Hum and Edwin Jong resigned from all of their positions with the Company effective August 3, 2016. Concurrently, Xinlong Shen was appointed to serve as the sole director, President, Treasurer, Secretary, Chief Executive Officer and Chief Financial Officer of the Company. Effective December 14, 2016, the Company accepted the resignation of Xinlong Shen from the position of President, Secretary and Treasurer. He will remain on the Board as a director. Also effective December 14, 2016, the Company appointed Yumin Lin as the new President, Secretary and Treasurer. He will also serve as a director.

Effective August 28, 2016, shareholders of Crypto-Services, Inc. representing 54.19% of the Company’s issued stock approved changing the Company’s name from Crypto-Services, Inc., to Fortune Valley Treasures, Inc. The Company filed a Certificate of Amendment with the State of Nevada on September 21, 2016. Effective March 29, 2017, we received formal notification from FINRA that our request to change the Company name from Crypto-Services, Inc. to Fortune Valley Treasures, Inc. and to change our trading symbol from CRYT to FVTI have been approved. On March 30, 2017 our name and symbol change took effect with FINRA and on the OTCMarkets OTCQB platform.

Effective December 14, 2016, the Company executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets of DaXingHuaShang Investment Group Limited (“DIGL”), a company incorporated under the laws of Republic of Seychelles. Pursuant to the Agreement, the Company has agreed to issue 300 million shares of the Company to DIGL to acquire 100% of the shares and assets for a cost of $12 million reflecting the value of the rights, titles and interests in the business assets and all attendant or related assets of DIGL. Both partied agreed that this share issuance by the Company represents payment in full of the $12 million. As of the February 28, 2017, the agreement has not been closed and the Company has not yet increased the authorized shares and issue the 300 million shares.

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Going Concern

6 Months Ended

Feb. 28, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

2. Going Concern

These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. During the period ended February 28, 2017, the Company had recurring losses and net cash used in operations, and had accumulated deficit of $136,528 as of February 28, 2017. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

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Basis of Presentation

6 Months Ended

Feb. 28, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

3. Basis of Presentation

The accompanying unaudited interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto for the year ended August 31, 2016 contained in the Company’s Form 10-K/A filed with the Securities and Exchange Commission on February 17, 2017. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the interim financial statements which would substantially duplicate the disclosure contained in the audited financial statements as reported in the Company’s Form 10-K/A have been omitted. These financial statements and notes are presented in accordance with accounting principles generally accepted in the United States. The Company’s fiscal year end is August 31.

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Related Party Transactions

6 Months Ended

Feb. 28, 2017

Related Party Transactions [Abstract]

Related Party Transactions

4. Related Party Transactions

a)	Our former CEO Gordon Hum assumed $10,500 accrued liabilities occurred before his resignation on August 3, 2016 and paid off on November 30, 2016. Gordon Hum forgave the repayment of $10,500 from the Company, which was recorded as gain on liabilities paid by former shareholder.
b)	As of February 28, 2017, the Company was indebted to the then-CEO Xinlong Shen in the amount of $45,830, which is non-interest bearing, unsecured, and due on demand. This is an advance from Xinlong Shen to finance the operation of the Company.
c)	A friend of Xinlong Shen provided non-compensated financial reporting services from August 2016 to February, 2017.
d)	Our principal executive office of the Company is provided by a friend of Xinlong Shen at no charge.

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Subsequent Event

6 Months Ended

Feb. 28, 2017

Subsequent Events [Abstract]

Subsequent Event

5. Subsequent Event

Effective December 14, 2016, the Company executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets of DaXingHuaShang Investment Group Limited (“DIGL”), a company incorporated under the laws of Republic of Seychelles. Pursuant to the Agreement, the Company has agreed to issue 300 million shares of the Company to DIGL to acquire 100% of the shares and assets for a cost of $12 million reflecting the value of the rights, titles and interests in the business assets and all attendant or related assets of DIGL. Both parties agreed that this share issuance by the Company represents payment in full of the $12 million. As of February 28, 2017, the agreement has not been closed and the Company has not yet increased the authorized shares and issue the 300 million shares.

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Nature of Operations (Details Narrative) - USD ($)		6 Months Ended
	Dec. 14, 2016	Feb. 28, 2017	Aug. 28, 2016
Shareholders [Member] | Crypto-Services, Inc [Member]
Percentage of stock issued during the period			54.19%
Stock Purchase Agreement [Member] | Gordon Hum [Member]
Sale of stock, number of shares issued in transaction		3,500,000
Percentage of stock issued during the period		45.16%
Stock Purchase Agreement [Member] | Gordon Hum [Member] | Twelve Unrelated Third Parties [Member]
Sale of stock, consideration received on transaction		$ 35,000
Stock Purchase Agreement [Member] | Edwin Jong [Member]
Sale of stock, number of shares issued in transaction		1,500,000
Percentage of stock issued during the period		19.35%
Stock Purchase Agreement [Member] | Edwin Jong [Member] | Five Unrelated Third Parties [Member]
Sale of stock, consideration received on transaction		$ 15,000
Sale and Purchase Agreement [Member] | DaXingHuaShang [Member]
Percentage of shares and assets acquired	100.00%
Number of shares agreed to acquire shares and business assets	300,000,000	300,000,000
Business assets value of rights acquired	$ 12,000,000
Business acquisition, description	Both partied agreed that this share issuance by the Company represents payment in full of the $12 million.

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Going Concern (Details Narrative) - USD ($)	Feb. 28, 2017	Aug. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 136,528	$ 93,296

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Related Party Transactions (Details Narrative) - USD ($)	6 Months Ended
	Feb. 28, 2017	Aug. 31, 2016
Due to related party	$ 45,830	$ 3,000
Gordon Hum [Member]
Accrued liabilities	10,500
Forgiveness of debt by related party	10,500
Xinlong Shen [Member]
Due to related party	$ 45,830

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Subsequent Event (Details Narrative) - Subsequent Event [Member] - DaXingHuaShang Investment Group Limited [Member] - Sale and Purchase Agreement [Member] - USD ($)	Feb. 28, 2017	Dec. 14, 2016
Percentage of shares and assets acquired		100.00%
Number of shares agreed to acquire shares and business assets	300,000,000	300,000,000
Business assets value of rights acquired		$ 12,000,000
Business acquisition, description		Both partied agreed that this share issuance by the Company represents payment in full of the $12 million.