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SEC Filings

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


Note 1 - Operations and significant accounting policies (continued)


The accompanying consolidated financial statements reflect the activities of the Group, including each of the following entities:


Entity Name  Registered location  Background  Recent Ownership
Wide Angle Group Limited ("the Company")  HK  ● Incorporated on January21, 1986
● Registered capital of HKD14,350,000, partly paid
● Engaged in printing and publishing business
Amer Global Technology Limited ("Amer")  HK  ● Incorporated on September 19, 2011
● Registered capital of HKD10,000, not paid
● Acquired on September 2,2016
● Engaged in manufacturing and selling electronic products
  100% hold by Wide Angle Group Limited Non-common control acquired
Shanghai Huicang Supply Chain Limited ("Shanghai Huicang")  Shanghai  ● Incorporated on September 18, 2016
● Registered capital of USD 1,000,000, not paid
● Have not commenced its operation
  Set up and 100% hold by Wide Angle Group Limited


Presentation and principles of consolidation

The Group prepares and presents its consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The consolidated financial statements include the financial statements of the Company and its subsidiaries (the "Group"). All inter-company transactions and balances have been eliminated in consolidation.


The accompanying notes are an integral part of these consolidated financial statements. 8