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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

 

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
Wecast Service Group Ltd.
("the Company")
  HK  ● Incorporated on December 23, 2015
● Registered capital of HKD 10,000, not paid
   
          
M.Y. Products Global Ltd.("MYP Global")  BVI  ● Incorporated on March 14, 2014
● Registered capital of USD 1, not paid
● Acquired on July 26, 2016
● Investment holding company now
  100% acquired by the Company under
Common control
          
M.Y. Products Global Holdings Ltd.("MYP Holding")  BVI  ● Incorporated on March 22, 2001
● Registered capital of USD 1, not paid
● Acquired on October 13, 2016
● Investment company now
  100% acquired by MYP Global under
common control
          
Shanghai Blue World Investment Management Consulting Ltd. ("SVG WFOE")  China  ● Incorporated on October 14, 2004
● Registered capital of USD 1,000,000, fully paid
● Acquired on July 7, 2005
● Investment company now
  100% acquired by MYP Holding under
common control
          
Shanghai Wecast Supply Chain Management Ltd.(" Shanghai Wecast")  China  ● Incorporated on March 26, 2015
● Registered capital of CNY 3,920,000, not paid
● Acquired on July 22, 2016
● Principally operated in trade services, offering pre-and post-sale services
  51% by SVG WFOE
49% by Long Yu
Acquired under Non-common control
          
Shanghai Wecast Supply Chain Management Ltd. Dalian Branch("Dalian Branch")  China  ● Incorporated on September 20, 2016
● No capital
● Principally operated in trade services, offering pre-and post-sale services, cease operation on February of 2017
  Branch of Shanghai Wecast
          
Shanghai Wecast Supply Chain Management Ltd. Ningbo Branch("Ningbo Branch")  China  ● Incorporated on January 19, 2016
● No capital
● Closed on February 28, 2017
● Principally operated in trade services, offering pre-and post-sale services, cancellation of registration
  Branch of Shanghai Wecast
          
M.Y. Products, LLC("MYP")  US  ● Incorporated on October 31, 2008
●Acquired on August 1, 2016
● Principally operated in sales of commodity
  100% acquired by Shanghai Wecast under
non-common control
          
Wecast Supply Chain Management Hong Kong Ltd.(" Wecast Supply(HK)")  HK  ● Incorporated on August 31, 2016
● Registered capital of HKD 10,000, not paid
● Have not commenced its operation
  Set up and 100% hold by Shanghai Wecast

 

The accompanying notes are an integral part of these consolidated financial statements” 9