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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 7 – Intangible assets, net

 

Intangible assets consist of the following:

 

   December 31, 
   2015   2016 
Software   -     7,408 
Patent and trademark   -     103,564 
Total at cost   -     110,972 
Less: Accumulated amortization   -     47,351 
Intangible asset, net   -     63,621 

 

The Group acquired MYP under non-common control in 2016. At acquisition date, there was accumulated amortization of $44,770 related to intangible assets acquired. Amortization expense was $nil and $2,581 for the years ended December 31, 2015 and 2016, respectively.

 

Note 8 – Other non-current assets

 

Other non-current assets consist of the following:

 

   December 31, 
   2015   2016 
Office rental deposit   -    69,861 
Total   -    69,861 

 

Shanghai Wecast signed lease agreements with Dalian Wanda Commercial Real Estate Co., Ltd. and Ningbo Zhengteng Zhongchuang Investment Management Co., Ltd. in 2016 with 3 yeas lease term, and the rental deposit will be refund after lease terminated.

 

Note 9 – Other income (expense), net  

 

Other income (expense), net consists of the following:        

 

   December 31, 
   2015   2016 
Loss on disposal of fixed assets   (14,059)   -  
Income from acquisition of subsidiaries   -    63,703 
Others   9    140 
Total   (14,050)   63,843 

 

The accompanying notes are an integral part of these consolidated financial statements” 20