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SEC Filings

8-K/A
SEVEN STARS CLOUD GROUP, INC. filed this Form 8-K/A on 08/14/2017
Entire Document
 

Wide Angle Group Limited

 

December 31, 2015 and December 31, 2016

 

Consolidated Statements of Comprehensive Income

(Amounts expressed in U.S. dollars)

 

   December 31, 
   2015   2016 
Revenues from third parties   536,472    70,614,476 
Consultancy revenues from related parties (Note 11)   7,224    72,321 
Total revenues   543,696    70,686,797 
           
Cost of revenues   397,467    71,178,649 
           
Gross profit/(loss)   146,229    (491,852)
           
Selling, general and administrative expenses   798,541    347,982 
Consultancy fees to related parties (Note 11)   -    1,283,902 
Depreciation and amortization   22,190    20,811 
Total operating expenses   820,731    1,652,695 
Loss from operations   (674,502)   (2,144,547)
           
Other income, net (Note 8)   177,124    794,410 
           
Loss before income taxes   (497,378)   (1,350,137)
           
Income tax expense (Note 9)   -    - 
           
Net loss   (497,378)   (1,350,137)
           
Other comprehensive (loss)/income:          
Exchange difference arising on translation   (5,354)   2,217 
Total other comprehensive (loss)/income   (5,354)   2,217 
           
Total comprehensive loss   (502,732)   (1,347,920)

 

The accompanying notes are an integral part of these consolidated financial statements. 4