| SCHEDULE OF RESTATEMENT ADJUSTMENTS BY CATEGORY |
SCHEDULE
OF RESTATEMENT ADJUSTMENTS BY CATEGORY
| | |
As Previously | | |
As | | |
| |
| | |
Reported (A) | | |
Restated (B) | | |
Difference | |
| | |
| | |
| | |
(B) - (A) | |
| CONSOLIDATED BALANCE SHEETS | |
| | | |
| | | |
| | |
| As of September 30, 2025 | |
| | | |
| | | |
| | |
| ASSETS | |
| | | |
| | | |
| | |
| Cash (a) | |
| 24,777,611 | | |
| 163,400 | | |
| (24,614,211 | ) |
| Restricted cash (client funds, segregated) (a) | |
| - | | |
| 17,451,322 | | |
| 17,451,322 | |
| Accounts receivable, net | |
| 305,872 | | |
| 305,872 | | |
| - | |
| Prepaid expenses — current (d) | |
| 495,972 | | |
| 437,222 | | |
| (58,750 | ) |
| Subscription receivable (b) | |
| 8,200,000 | | |
| - | | |
| (8,200,000 | ) |
| Related party receivable | |
| 6,443,484 | | |
| 5,724,710 | | |
| (718,774 | ) |
| Total current assets | |
| 40,222,939 | | |
| 24,082,526 | | |
| (16,140,413 | ) |
| Prepaid expenses — non-current (d) | |
| - | | |
| 58,750 | | |
| 58,750 | |
| Right-of-use asset (d) | |
| 579,686 | | |
| 854,551 | | |
| 274,865 | |
| Total assets | |
| 47,928,079 | | |
| 32,121,281 | | |
| (15,806,798 | ) |
| Related party advances (d) | |
| 3,456,976 | | |
| 2,722,615 | | |
| (734,361 | ) |
| Customer funds / Client funds payable (a) | |
| 24,525,523 | | |
| 17,451,322 | | |
| (7,074,201 | ) |
| Operating lease liability, current (d) | |
| 451,900 | | |
| 187,044 | | |
| (264,856 | ) |
| Total current liabilities | |
| 30,796,730 | | |
| 22,723,312 | | |
| (8,073,418 | ) |
| Operating lease liability — non-current (d) | |
| 127,786 | | |
| 390,407 | | |
| 262,621 | |
| Total liabilities | |
| 31,455,675 | | |
| 23,644,878 | | |
| (7,810,797 | ) |
| Common stock, par value $0.0001 (e) | |
| 42,258 | | |
| 42,308 | | |
| 50 | |
| Additional paid-in capital (common & Series A) (c) | |
| 18,541,251 | | |
| 14,865,371 | | |
| (3,675,880 | ) |
| Subscription receivable (contra-equity) (b) | |
| - | | |
| (8,000,000 | ) | |
| (8,000,000 | ) |
| Additional paid-in capital, Series B Preferred (c) | |
| - | | |
| 3,344,063 | | |
| 3,344,063 | |
| Accumulated other comprehensive income (loss) (f) | |
| 43,314 | | |
| 23,803 | | |
| (19,511 | ) |
| Accumulated deficit | |
| (2,241,003 | ) | |
| (1,885,726 | ) | |
| 355,277 | |
| Total FDCTech, Inc. stockholders’ equity (deficit) | |
| 16,386,507 | | |
| 8,390,506 | | |
| (7,996,001 | ) |
| Noncontrolling interest | |
| 85,897 | | |
| 85,897 | | |
| - | |
| Total liabilities and stockholders’ equity (deficit) | |
| 47,928,079 | | |
| 32,121,281 | | |
| (15,806,798 | ) |
| CONSOLIDATED BALANCE SHEETS | |
| | | |
| | | |
| | |
| As of September 30, 2024 | |
| | | |
| | | |
| | |
| ASSETS | |
| | | |
| | | |
| | |
| Cash (a) | |
| 27,989,417 | | |
| 6,412,480 | | |
| (21,576,937 | ) |
| Restricted cash (client funds, segregated) (a) | |
| - | | |
| 21,576,937 | | |
| 21,576,937 | |
| Subscription receivable (b) | |
| 8,200,000 | | |
| - | | |
| (8,200,000 | ) |
| Total current assets | |
| 37,585,357 | | |
| 29,385,357 | | |
| (8,200,000 | ) |
| Right-of-use asset (d) | |
| - | | |
| 1,016,601 | | |
| 1,016,601 | |
| Total assets | |
| 43,256,750 | | |
| 36,073,351 | | |
| (7,183,399 | ) |
| Operating lease liability, current (d) | |
| - | | |
| 219,078 | | |
| 219,078 | |
| Total current liabilities | |
| 29,028,178 | | |
| 29,247,256 | | |
| 219,078 | |
| Operating lease liability — non-current (d) | |
| - | | |
| 577,452 | | |
| 577,452 | |
| Total liabilities | |
| 29,578,653 | | |
| 30,375,183 | | |
| 796,530 | |
| Common stock, par value 0.0001 (e) | |
| 39,058 | | |
| 39,108 | | |
| 50 | |
| Additional paid-in capital, common stock (c) | |
| 13,647,098 | | |
| 13,701,798 | | |
| 54,700 | |
| Subscription receivable (contra-equity) (b) | |
| - | | |
| (8,200,000 | ) | |
| (8,200,000 | ) |
| Accumulated deficit (f) | |
| (3,488,102 | ) | |
| (3,322,781 | ) | |
| 165,321 | |
| Total FDCTech, Inc. stockholders’ equity (deficit) | |
| 13,668,296 | | |
| 5,688,367 | | |
| (7,979,929 | ) |
| Total liabilities and stockholders’ equity (deficit) | |
| 43,256,750 | | |
| 36,073,351 | | |
| (7,183,399 | ) |
| CONSOLIDATED STATEMENTS OF OPERATIONS | |
| | | |
| | | |
| | |
| Three Months Ended September 30, 2025 | |
| | | |
| | | |
| | |
| Technology & software revenue (e) | |
| 1,392,636 | | |
| 1,361,636 | | |
| (31,000 | ) |
| Total revenue | |
| 5,903,372 | | |
| 5,872,372 | | |
| (31,000 | ) |
| Brokerage (Trading) cost of sales (e) | |
| 555,405 | | |
| 60,237 | | |
| (495,168 | ) |
| Total cost of sales | |
| 2,132,396 | | |
| 1,637,228 | | |
| (495,168 | ) |
| Gross profit | |
| 3,770,976 | | |
| 4,235,144 | | |
| 464,168 | |
| General and administrative (e) | |
| 2,743,574 | | |
| 3,234,153 | | |
| 490,579 | |
| Sales and marketing (e) | |
| 323,634 | | |
| 317,379 | | |
| (6,255 | ) |
| Total operating expenses | |
| 3,112,200 | | |
| 3,596,524 | | |
| 484,324 | |
| Operating income (loss) | |
| 658,776 | | |
| 638,620 | | |
| (20,156 | ) |
| Other income (expense), net (e) | |
| 268,738 | | |
| 268,739 | | |
| - | |
| Net income (loss) | |
| 755,408 | | |
| 735,252 | | |
| (20,156 | ) |
| Net income (loss) attributable to FDCTech | |
| 755,408 | | |
| 655,487 | | |
| (99,921 | ) |
| Other income (expense) | |
| 268,738 | | |
| 268,739 | | |
| - | |
| Total other income (expense) | |
| 96,632 | | |
| 96,632 | | |
| - | |
| Nine Months Ended September 30, 2025 | |
| | | |
| | | |
| | |
| Technology & software revenue (e) | |
| 3,400,210 | | |
| 3,353,598 | | |
| (46,612 | ) |
| Total revenue | |
| 17,315,723 | | |
| 17,269,111 | | |
| (46,612 | ) |
| Brokerage (Trading) cost of sales (e) | |
| 3,458,121 | | |
| 3,458,121 | | |
| - | |
| Total cost of sales | |
| 7,868,710 | | |
| 7,868,710 | | |
| - | |
| Gross profit | |
| 9,447,013 | | |
| 9,400,401 | | |
| (46,612 | ) |
| General and administrative (e) | |
| 7,523,340 | | |
| 7,505,861 | | |
| (17,479 | ) |
| Sales and marketing (e) | |
| 898,430 | | |
| 887,520 | | |
| (10,910 | ) |
| Total operating expenses | |
| 8,548,870 | | |
| 8,520,481 | | |
| (28,389 | ) |
| Operating income (loss) | |
| 898,143 | | |
| 879,920 | | |
| (18,223 | ) |
| Other income (expense), net (e) | |
| (305,346 | ) | |
| (99,364 | ) | |
| 205,982 | |
| Net income (loss) | |
| 436,159 | | |
| 623,918 | | |
| 187,759 | |
| Net income (loss) attributable to FDCTech | |
| 436,159 | | |
| 510,376 | | |
| 74,217 | |
| Three Months Ended September 30, 2024 | |
| | | |
| | | |
| | |
| General and administrative (e) | |
| 2,754,088 | | |
| 2,707,832 | | |
| (46,256 | ) |
| Total operating expenses | |
| 3,183,633 | | |
| 3,137,377 | | |
| (46,256 | ) |
| Operating income (loss) | |
| (523,252 | ) | |
| (476,996 | ) | |
| 46,256 | |
| Net income (loss) | |
| (649,565 | ) | |
| (603,309 | ) | |
| 46,256 | |
| Net income (loss) attributable to FDCTech | |
| (649,565 | ) | |
| (607,207 | ) | |
| 42,358 | |
| Nine Months Ended September 30, 2024 | |
| | | |
| | | |
| | |
| General and administrative (e) | |
| 7,575,616 | | |
| 7,410,295 | | |
| (165,321 | ) |
| Total operating expenses | |
| 8,919,886 | | |
| 8,754,565 | | |
| (165,321 | ) |
| Operating income (loss) | |
| (1,686,032 | ) | |
| (1,520,711 | ) | |
| 165,321 | |
| Net income (loss) | |
| (861,395 | ) | |
| (696,074 | ) | |
| 165,321 | |
| Net income (loss) attributable to FDCTech | |
| (861,395 | ) | |
| (679,134 | ) | |
| 182,261 | |
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | |
| Nine Months Ended September 30, 2025 | |
| | | |
| | | |
| | |
| Change in APIC due to common control | |
| 1,485,743 | | |
| 1,279,715 | | |
| (206,028 | ) |
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |
| | | |
| | | |
| | |
| Nine Months Ended September 30, 2025 | |
| | | |
| | | |
| | |
| Net income (loss) (f) | |
| 436,159 | | |
| 623,918 | | |
| 187,759 | |
| Depreciation (e) | |
| 82,108 | | |
| 127,100 | | |
| 44,992 | |
| Common stock issued for services (e) | |
| 49,299 | | |
| 35,200 | | |
| (14,099 | ) |
| Series B Preferred issued for services (c) | |
| 1 | | |
| 14,100 | | |
| 14,099 | |
| Accounts receivable allowance (e) | |
| 0 | | |
| 22,382 | | |
| 22,382 | |
| Fixed assets (e) | |
| (90,799 | ) | |
| (135,791 | ) | |
| (44,992 | ) |
| Gross accounts receivable (e) | |
| (280,872 | ) | |
| (303,254 | ) | |
| (22,382 | ) |
| Related party receivable (d) | |
| (4,028,659 | ) | |
| (4,042,260 | ) | |
| (13,601 | ) |
| Operating lease (d) | |
| (132,242 | ) | |
| (134,477 | ) | |
| (2,235 | ) |
| Right of use of assets (lease) (d) | |
| 132,242 | | |
| 123,703 | | |
| (8,539 | ) |
| Net cash used in operating activities | |
| (3,815,048 | ) | |
| (3,651,664 | ) | |
| 163,384 | |
| Changes in paid-in capital (b)(c) | |
| 1,485,743 | | |
| 1,279,715 | | |
| (206,028 | ) |
| Net cash provided by (used in) investing activities | |
| 1,358,150 | | |
| 1,055,538 | | |
| (302,612 | ) |
| Related party advances (d) | |
| 2,445,588 | | |
| (5,270,225 | ) | |
| (7,715,813 | ) |
| Change in noncontrolling interest | |
| (44,465 | ) | |
| 69,077 | | |
| 113,542 | |
| Net cash provided by (used in) financing activities | |
| 2,453,120 | | |
| (5,262,693 | ) | |
| (7,784,890 | ) |
| Effect of exchange rates | |
| 96,584 | | |
| 96,584 | | |
| - | |
| Net increase (decrease) in cash and restricted cash | |
| (3,778 | ) | |
| (7,762,235 | ) | |
| (7,758,457 | ) |
| Cash and restricted cash at beginning of period | |
| 24,781,389 | | |
| 25,376,957 | | |
| 595,568 | |
| Cash and restricted cash at end of period | |
| 24,777,611 | | |
| 17,614,722 | | |
| (7,162,889 | ) |
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |
| | | |
| | | |
| | |
| Nine Months Ended September 30, 2024 | |
| | | |
| | | |
| | |
| Net income (loss) (f) | |
| (861,395 | ) | |
| (696,074 | ) | |
| 165,321 | |
| Software amortization (e) | |
| 26,167 | | |
| - | | |
| (26,167 | ) |
| Common stock issued for services (e) | |
| - | | |
| 54,750 | | |
| 54,750 | |
| Subscription receivable activity (b) | |
| - | | |
| 8,200,000 | | |
| 8,200,000 | |
| Operating lease (d) | |
| (39,683 | ) | |
| 756,847 | | |
| 796,530 | |
| Right of use of assets (lease) (d) | |
| 39,683 | | |
| (976,918 | ) | |
| (1,016,601 | ) |
| Net cash provided by (used in) operating activities | |
| (3,556,116 | ) | |
| 4,617,717 | | |
| 8,173,833 | |
| Capitalized software (e) | |
| 89,077 | | |
| 115,244 | | |
| 26,167 | |
| Net cash provided by (used in) investing activities | |
| 795,090 | | |
| 906,893 | | |
| 111,803 | |
| Stock receivable/subscription reclassification (b) | |
| - | | |
| (8,200,000 | ) | |
| (8,200,000 | ) |
| Change in noncontrolling interest | |
| (12,198 | ) | |
| (29,138 | ) | |
| (16,940 | ) |
| Net cash provided by (used in) financing activities | |
| (566,018 | ) | |
| (8,766,018 | ) | |
| (8,200,000 | ) |
| Effect of exchange rates | |
| - | | |
| (85,636 | ) | |
| (85,636 | ) |
| Net increase (decrease) in cash and restricted cash | |
| (3,327,044 | ) | |
| (3,327,044 | ) | |
| - | |
| Cash and restricted cash at end of period | |
| 27,989,417 | | |
| 27,989,417 | | |
| - | |
|