NEW YORK, Jan. 29, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced today several updates to previously announced corporate activities:
Q4/Full Year 2017 Results and 2018 Guidance: While the Company (which was classified by SEC laws as a non-accelerated filer in 2017 and prior reporting years) historically files its Q4 and Full Year financials at the end of March, it is actively working with its Independent Auditor, Grant Thornton China / Grant Thornton LLP, to advance that date and shorten the Company's standard audit timeline, despite the shortened existing work timeframe that is due to the 2 week long Chinese New Year celebration. As far as 2018 Guidance, once preliminary January revenue data is completely captured and reviewed at the end of the month, the Company plans to issue its full year 2018 guidance in an effort to provide investors with greater clarity on management's full year outlook.
Fund Partnerships with both He Ying Private Equity Fund and Cosco (http://en.chinacosco.com/): Both funds, which were initially set up as partners with Seven Stars Cloud strictly for the supply chain finance business, will continue to operate in that space, but will now also partner on and with, the Company's asset-backed securitization & tokenization business.
SuperApp: The Company's SuperApp is being repurposed and augmented from its original use as a recommendation engine, to a value component of Seven Stars Cloud's B2B Dynamic Business Intelligence Engine (Engine #7). Further updates will be provided as the integration unfolds.
US Headquarters: The Company is close to securing an interim Manhattan-based office space while negotiations for a larger US headquarters continues.
Seven Stars Cloud Group, Inc.
Safe Harbor Statement
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SOURCE Seven Stars Cloud Group, Inc.