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SEC公告

8-K
SEVEN STARS CLOUD GROUP, INC. filed this Form 8-K on 03/30/2018
Entire Document
 

 

 

Seven Stars Cloud Group, Inc., Its Subsidiaries and Variable Interest Entities

CONSOLIDATED BALANCE SHEETS

 

    December 31,  
    2017     2016  
             
ASSETS                
Current assets:                
Cash   $ 7,205,096     $ 3,761,814  
Accounts receivable, net     26,962,085       9,522,151  
Licensed content, current     16,958,149       124,319  
Notes receivable     -       1,749,830  
Inventory     216,453       203,697  
Prepaid expenses     2,202,728       375,944  
Other current assets     2,256,727       3,581,822  
Total current assets     55,801,238       19,319,577  
Property and equipment, net     113,993       4,963,725  
Licensed content, non-current     -       17,593,528  
Intangible assets, net     148,874       453,242  
Goodwill     -       6,648,911  
Long-term investments     6,975,511       6,654,664  
Other non-current assets     -       112,643  
Total assets   $ 63,039,616     $ 55,746,290  
                 
LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK AND EQUITY                
Current liabilities: (including amounts of consolidated VIEs without recourse to Seven Stars Cloud Group, Inc. See note 4)                
Accounts payable     26,829,593       13,341,680  
Advance from customers     222,350       1,350,054  
Accrued interest due to a related party     20,055       557,918  
Accrued other expenses     174,358       708,987  
Accrued salaries     737,072       766,957  
Payable for purchase of building     -       987,015  
Amount due to related parties     45,639       1,060,817  
Other current liabilities     625,942       934,480  
Accrued license content fees     -       1,236,661  
Convertible promissory note due to a related party     3,000,000       3,000,000  
Warrant liabilities     -       70,785  
Total current liabilities     31,655,009       24,015,354  
Total liabilities     31,655,009       24,015,354  
Commitments and contingencies: (Note 18)                
Convertible redeemable preferred stock:                
Series A - 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of December 31, 2017 and 2016, respectively     1,261,995       1,261,995  
Equity:                
Series E Preferred Stock - $0.001 par value; 16,500,000 shares authorized, nil and 7,154,997 shares issued and outstanding, liquidation preference of nil and $12,521,245 as of December 31, 2017 and December 31, 2016, respectively     -       7,155  
Common stock - $0.001 par value; 1,500,000,000 shares authorized, 68,509,090 and 53,918,523 shares issued and outstanding as of December 31, 2017 and 2016, respectively     68,509       53,918  
Additional paid-in capital     157,968,548       152,755,919  
Accumulated deficit     (125,865,391 )     (115,669,268 )
Accumulated other comprehensive loss     (759,687 )     (1,353,302 )
Total Seven Stars Cloud shareholder’s equity     31,411,979       35,794,422  
Non-controlling interest     (1,289,367 )     (5,325,481 )
Total equity     30,122,612       30,468,941  
Total liabilities, convertible redeemable preferred stock and equity   $ 63,039,616     $ 55,746,290