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SEC Filings

8-K/A
SEVEN STARS CLOUD GROUP, INC. filed this Form 8-K/A on 08/14/2017
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Seven Stars Cloud Group, Inc.

Unaudited Pro Forma Combined Statement of Income

For the year ended December 31, 2016

   Historical        
   SSC   WAG   Amer’s inception to acquisition results   MYP   Pro Forma Adjustments   Pro Forma Combined 
Revenue  $4,543,616   $70,686,797   $33,746,126   $192,205    -   $109,168,744 
Cost of revenue   4,434,260    71,178,649    32,950,919    140,333    -    108,704,161 
Gross profit/(Loss)   109,356    (491,852)   795,207    51,872    -    464,583 
Operating expenses:                              
Selling, general and administrative expense   10,370,548    1,631,884    824    863,398    -    12,866,654 
Professional fees   1,357,454    -    -    177,361    -    1,534,815 
Depreciation and amortization   489,308    20,811    -    11,820    -    521,939 
Impairment of other intangible assets   2,018,628    -    -    -    -    2,018,628 
Earn-out share award expense   13,700,000    -    -    -    -    13,700,000 
Total operating expense   27,935,938    1,652,695    824    1,052,579    -    30,642,036 
Loss from operations   (27,826,582)   (2,144,547)   794,383    (1,000,707)   -    (30,177,453)
Interest and other income/(expense)                              
Interest expense, net   (254,292)   -    -    (518)   -    (254,810)
Change in fair value of warrant liabilities   324,432    -    -    -    -    324,432 
Equity in loss of equity method investees   (31,557)   -    -    -    -    (31,557)
Impairment of equity method investments   (38,448)   -    -    -    -    (38,448)
Non-operating income   58,621    794,410    -    63,843    (794,383)   122,491 
Loss before income taxes and non-controlling interest   (27,767,826)   (1,350,137)   794,383    (937,382)   (794,383)(a)   (30,055,345)
Income tax benefit   330,124    -    -    -    -    330,124 
Net loss   (27,437,702)   (1,350,137)   794,383    (937,382)   (794,383)   (29,725,221)
Net loss attributable to non-controlling interest   1,601,761    -    -    388,338    607,562(b)   2,597,661 
Net loss attributable to parent company’s shareholders   (25,835,941)   (1,350,137)   794,383    (549,044)   (186,821)   (27,127,560)
Basic and diluted loss per share (in dollars per share)   (0.72)   -    -    -    -    (0.75)

Weighted average shares outstanding:

Basic and diluted (in shares)

   35,998,001    -    -    -    -    35,998,001 

 

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