|SEVEN STARS CLOUD GROUP, INC. filed this Form 10-Q on 08/14/2017|
Consolidated Results of Operations
Comparison of Three Months Ended June 30, 2017 and 2016
We are refocusing from our legacy operations as a premium content VOD service provider in China and aiming to be a leading Intelligent Industrial Internet company with solutions designed to provide operational efficiencies in todays constantly evolving business landscape. With a focus on “BASE” or Blockchain, Artificial Intelligence, Supply Chain & Exchanges, we are organized into three cloud-based categories and business units: Brand, Content & Intellectual Property Cloud, Product Sales Cloud, and the Transactional Finance Product Cloud. With the three clouds functioning both independently and interdependently, we are creating a vertical, transactional and flexible platform for today’s global enterprises, including:
Provides premium content and integrated value-added service solutions for the delivery of VOD and paid video programming to digital cable providers, Internet Protocol Television (“IPTV”) providers. The core revenues are being generated from both minimum guarantee payments and revenue sharing arrangements with distribution partners as well as subscription or transactional fees from subscribers.
On January 30, 2017, the Company completed the acquisition of Sun Video Group HK Limited ("SVG"), which has a 51% ownership stake in Shanghai Wecast Supply Chain Management Limited ("Wecast SH"). On January 31, 2017, the Company acquired 55% of the