Exhibit 99.1
SOS Limited
Unaudited interim condensed consolidated Statements of comprehensive of loss
(US$ thousands, except share data and per share data, or otherwise noted)
Six months ended | ||||||||
30-Jun-20 | 30-Jun-21 | |||||||
US$ | US$ | |||||||
Revenue | 9,917 | 184,489 | ||||||
Business taxes and surcharges | (8 | ) | (11 | ) | ||||
Net revenue | 9,909 | 184,479 | ||||||
Operating costs | (9,830 | ) | (167,238 | ) | ||||
Gross profit | 79 | 17,240 | ||||||
Operating expenses | ||||||||
Selling expense | - | (30 | ) | |||||
G&A expense | (2,671 | ) | (37,353 | ) | ||||
Finance expense | - | (0 | ) | |||||
Total operating expenses | (2,671 | ) | (37,382 | ) | ||||
Operating loss | (2,591 | ) | (20,141 | ) | ||||
Non-operating income | 48 | 305 | ||||||
Loss on acquisition | (5,679 | ) | - | |||||
Total other (expenses)/income | (5,631 | ) | 305 | |||||
Total operating loss before tax | (8,222 | ) | (19,836 | ) | ||||
Income tax expense | (1 | ) | (578 | ) | ||||
Net loss from continuing operations | (8,223 | ) | (20,414 | ) | ||||
Net loss from discontinued operation | (545 | ) | ||||||
Minority interest | 4 | |||||||
Net loss | (8,768 | ) | (20,411 | ) | ||||
Preferred dividends | - | - | ||||||
Net loss attributible to ordinary shareholders | (8,768 | ) | (20,411 | ) | ||||
Foreign currency translation adjustment-net of tax | 7 | (2,992 | ) | |||||
Comprehensive of loss | (8,761 | ) | (23,402 | ) | ||||
Weighted average number of ordinary shares | ||||||||
Basic | 50,210,478 | 490,720,471 | ||||||
*Diluted | - | - | ||||||
EARNINGS PER SHARE | ||||||||
Basic | (0.17 | ) | (0.04 | ) | ||||
*Diluted | - | - | ||||||
*N/A Anti-diluted shares not considered |
Six months ended | ||||||||
30-Jun-20 | 30-Jun-21 | |||||||
US$‘000’ | US$‘000’ | |||||||
None -GAAP adjusted (loss)/profit before income tax expense | (1,263 | ) | (1,906 | ) |
SOS Limited
Unaudited Condensed Consolidated Balance Sheet
(US$ thousands, except share data and per share data, or otherwise noted)
30-Jun-20 | 30-Jun-21 | |||||||
Assets | ||||||||
Cash and cash equivlaents | 610 | 185,451 | ||||||
Receivables | 1,288 | 50,405 | ||||||
Inventory | - | 102,566 | ||||||
Prepayment and other assets | 16,829 | 164,333 | ||||||
Due from related parties | - | 10,183 | ||||||
Contract assets | - | - | ||||||
Intangible assets | 12,222 | |||||||
Total current assetes | 18,727 | 525,159 | ||||||
Property equipment and software-net | 331 | 30,401 | ||||||
Goodwill | - | 72 | ||||||
Operating lease Right of use assets-net | 4,063 | |||||||
Assets of discontinued group | 53,655 | - | ||||||
Total assets | 72,713 | 559,695 | ||||||
Liabilities and Shareholder’s Equity | ||||||||
Liabilities: | ||||||||
Accrued liabilities | - | (24 | ) | |||||
Accounts payble | 13,813 | 695 | ||||||
Tax payable | (15 | ) | (6,039 | ) | ||||
Other payables | 6,763 | (1,576 | ) | |||||
Due to related parties | - | 2,406 | ||||||
Contract liability | - | 802 | ||||||
Operating lease liability-current | 866 | |||||||
Total current liabilities | 20,561 | (2,870 | ) | |||||
Operating lease liabilty-noncurrent | 2,783 | |||||||
Liabilities of discontinued group | 50,217 | - | ||||||
Total liabilities | 70,778 | (88 | ) | |||||
Paid up capital | 14 | 71 | ||||||
Additional paid-in capital | 10,647 | 577,280 | ||||||
Retained earnings | 35 | 5,838 | ||||||
Current year net profit/(loss) | (8,768 | ) | (20,411 | ) | ||||
Other comprehensive income | 7 | (2,992 | ) | |||||
Total Shareholders’ Equity | 1,935 | 559,786 | ||||||
Minority Interest | (4 | ) | ||||||
Total Liabilities and Shareholders’ Equity | 72,713 | 559,695 |
2
SOS Limited
Unaudited condensed consolidated statement of cash flow
(US$ thousands, except share data and per share data, or otherwise noted)
30-Jun-20 | 30-Jun-21 | |||||||
Cash flows from operating activities: | ||||||||
Net (loss) | (8,768 | ) | (20,411 | ) | ||||
Adjustments: | ||||||||
Depreciation and amortization | 3 | 5,509 | ||||||
Share-based compensation | 737 | 17,927 | ||||||
Loss on acquisition | 5,679 | - | ||||||
Inventory | - | (102,566 | ) | |||||
Receivables, prepayments and other assets | (12,393 | ) | (196,620 | ) | ||||
Due from RPTs | - | (10,183 | ) | |||||
Intangible assets | (12,221 | ) | ||||||
Accrued liabilities | 14,678 | 24 | ||||||
Accounts payable | - | (13,118 | ) | |||||
Tax payable | (15 | ) | (6,024 | ) | ||||
Other payables | (8,339 | ) | ||||||
Due to RPTs | 2,406 | |||||||
Contract liability and lease liability | 4,450 | |||||||
Net cash used in operating activities from discontinued opeation | 545 | - | ||||||
Net cash used in operating activities | 466 | (339,165 | ) | |||||
Cash flows from investing activities: | ||||||||
Purchase of property, equipment and software | (202 | ) | (34,205 | ) | ||||
Disposition of assets P2P | - | 3,500 | ||||||
Investment in equity | (593 | ) | - | |||||
Net cash used in investing activities | (795 | ) | (30,705 | ) | ||||
Cash flows from financing activities: | ||||||||
Proceeds from share issuance | 898 | 551,824 | ||||||
Proceeds from private equity placement | - | |||||||
Net cash provided by financing activities | 898 | 551,824 | ||||||
Exchange gain/(loss) | - | 2,887 | ||||||
Net increase/(decrease), effect of exchange rate changes on cash and cash equivalent | 569 | 184,841 | ||||||
Cash and cash equivalent at beginning of the period | 41 | 610 | ||||||
Cash and cash equivalent at end of the period | 610 | 185,451 |
Notes
1.Non-GAAP adjustments and Non-GAAP results
Six months ended | ||||||||
30-Jun-20 | 30-Jun-21 | |||||||
US$‘000’ | US$‘000’ | |||||||
None -GAAP adjusted (loss)/profit before income tax expense | (1,263 | ) | (1,906 | ) |
The add-back adjustment was mainly associated with share-based compensation expenses of $17.9 million.
3