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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
 

Wecast Services Group Limited

 

December 31, 2015 and December 31, 2016

 

Consolidated Statements of Comprehensive income

(Amounts expressed in U.S. dollars)

 

   Years ended December 31, 
   2015   2016 
         
Revenues   -    192,205 
Cost of revenue   -    140,333 
Gross profit   -    51,872 
           
Selling, general and administrative expenses   2,891    863,398 
Professional fees   13,688    177,361 
Depreciation and amortization   -    11,820 
Total operating expenses   16,579    1,052,579 
Loss from operations   (16,579)   (1,000,707)
           
Interest expense   -    518 
           
Other income (expense), net (Note 9)   (14,050)   63,843 
           
Loss before income taxes   (30,629)   (937,382)
           
Income tax expense (Note 10)   -    - 
           
Net loss   (30,629)   (937,382)
           
Less: Net loss attributable to Non-controlling interest   -    (388,338)
           
Net loss attributable to controlling shareholders   (30,629)   (549,044)
           
Other comprehensive (loss)/income:          
Foreign currency translation adjustments   (431)   11,043 
           
Total other comprehensive (loss)/income   (431)   11,043 
           
Total comprehensive loss   (31,060)   (538,001)
           
Less: comprehensive income attributable to   -    5,499 
Non-controlling interest          
           
Comprehensive loss attributable to controlling shareholders   (31,060)   (543,500)

 

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