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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

 

Note 5–Property and equipment, net

 

Property and equipment, net consist of the following:

 

   December 31, 
   2015   2016 
Furniture and office equipment   25,775    25,756 
Vehicles   204,606    204,447 
Total at cost   230,381    230,203 
Less: Accumulated depreciation   80,899    101,710 
Property, plant and equipment, net   149,482    128,493 

 

Depreciation expense was USD 22,190 and USD 20,811 for the years ended December 31, 2015 and 2016, respectively.

           

Note 6–Accounts payable

 

   December 31, 
   2015   2016 
Accounts payable   54,980    9,874,656 

 

The credit term of suppliers is about 2 months, which is in consistent with suppliers’ aging.

 

The accompanying notes are an integral part of these consolidated financial statements. 16