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SEC Filings

10-Q
SEVEN STARS CLOUD GROUP, INC. filed this Form 10-Q on 11/13/2017
Entire Document
 

 

Consolidated Results of Operations

 

Comparison of Three Months Ended September 30, 2017 and 2016

 

   Three Months Ended         
   September 30, 2017   September 30, 2016   Amount Change   % Change 
Revenue  $30,223,638   $1,626,844   $28,596,794    1758%
Cost of revenue   28,273,862    893,796    27,380,066    3063%
Gross profit   1,949,776    733,048    1,216,728    166%
                     
Operating expense:                    
Selling, general and administrative expenses expenses   3,630,949    2,320,247    1,310,702    56%
Research and development expenses   400,040    -    400,040    100%
Professional fees   831,039    326,353    504,686    155%
Impairment of other intangible assets   152,847    172,064    (19,217)   (11%)
Depreciation and amortization   36,508    123,502    (86,994)   (70%)
                     
Total operating expense   5,051,383    2,942,166    2,109,217    72%
                     
Loss from operations   (3,101,607)   (2,209,118)   (892,489)   40%
Interest expense, net   (27,186)   (24,971)   (2,215)   9%
Change in fair value of warrant liabilities   131,357    58,220    73,137    126%
Equity in loss of equity method investees   (23,632)   17,487    (41,119)   (235%)
Others   (806)   (3,313)   2,507    (76%)
                     
Loss before income taxes   (3,021,874)   (2,161,695)   (860,179)   40%
                     
Income tax benefit   -    8,612    (8,612)   (100%)
                     
Net loss   (3,021,874)   (2,153,083)   (868,791)   40%
                     
Net loss (income) attributable to non-controlling interest   (22,723)   105,879    (128,602)   (121%)
                     
Net loss attributable to Seven Stars Cloud Group, Inc. shareholders  $(3,044,597)  $(2,047,204)  $(997,393)   49%

 

Revenues

 

1>OTT, Mobile App, IPTV and Digital Cable VOD Businesses (Legacy YOD)

Provides premium content and integrated value-added service solutions for the delivery of VOD and paid video programming to digital cable providers, Internet Protocol Television (“IPTV”) providers. The core revenues are being generated from both minimum guarantee payments and revenue sharing arrangements with distribution partners as well as subscription or transactional fees from subscribers.

 

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