SOS Limited (SOS) 6-K Report of Foreign Private Issuer

Exhibit 99.1

SOS Limited

Interim Condensed Consolidated Balance Sheet

(US$ thousands, except share data and per share data, or otherwise noted)

	Twelve months ended			Six months ended
	31-Dec-21			30-Jun-22
	Audited			Unaudited
	$			$
Current assets:
Cash and cash equivalents		338,026			247,346
Accounts receivable - net		26,129			5,738
Inventory		96,071			84,855
Other receivables - net		173,234			307,512
Amount due from related parties		7,839			18,460
Tax recoverable		7,706			3,596
Intangible assets		14,502			15,338
Total current assets		663,507			682,845
Non-current assets:
Property equipment and software-net		28,320			26,382
Goodwill		72			72
Operating lease, right of use assets-net		3,401			3,742
Total non-current assets		31,793			30,196
Total assets		695,300			713,041
Liabilities and Shareholder’s Equity
Liabilities:
Accrued liabilities		19,815			16,730
Accounts payable		29,487			34,886
Tax payable		-			2,322
Other payables		6,684			14,099
Amount due to related parties		2,777			4,167
Contract liability		156			347
Operating lease liability-current		894			1,446
Total current liabilities		59,813			73,997
Operating lease liability-non-current		1,918			2,472
Total non-current liabilities		1,918			2,472
Total liabilities		61,731			76,469
Shareholder’s Equity
Paid up capital		300			335
Additional paid-in capital		672,352			705,272
Retained earnings/(accumulated deficit)		5,838			(43,413	)
Current year net loss		(49,251	)		(14,334	)
Other comprehensive income/(loss)		4,130			(10,738	)
Total Shareholders’ Equity		633,369			637,122
Non-controlling interest		200			(550	)
Total Liabilities and Shareholders’ Equity		695,300			713,041

SOS Limited

Interim Condensed Consolidated Statements of Comprehensive Loss

(US$ thousands, except share data and per share data, or otherwise noted)

	Six months ended
	30-Jun-21			30-Jun-22
	Unaudited			Unaudited
	$			$
Revenue		184,489			132,710
Business taxes and surcharges		(11	)		(45	)
Net revenue		184,478			132,665
Operating costs		(167,238	)		(120,294	)
Gross profit		17,240			12,371
Gross profit ratio		9.3	%		9.3	%
Operating expenses
Selling expense		(30	)		(3,115	)
G&A expense		(19,425	)		(10,087	)
Share-based compensation		(17,926	)		(14,471	)
Finance expense		-			-
Total operating expenses		(37,381	)		(27,673	)
Income from operations		(20,141	)		(15,302	)
Other income (expenses):
Other income (expenses), net		305			3,166
Total other (expenses) income, net		305			3,166
Loss before income taxes		(19,836	)		(12,136	)
Income tax expense		(579	)		(2,767	)
Net loss - continuing operations		(20,415	)		(14,903	)
Non-controlling interest		4			569
Net Loss		(20,411	)		(14,334	)
Other comprehensive loss:
Foreign currency translation adjustment-net of tax		(2,991	)		(10,739	)
Total comprehensive loss		(23,402	)		(25,073	)
Weighted average number of ordinary shares
Basic		490,720,471			3,127,978,878
Diluted*		-			-
LOSS PER SHARE
Basic		(0.04	)		(0.0046	)
Diluted*		-			-

Note 1:*N/A Anti-diluted shares not considered

	Six months ended
	30-Jun-21			30-Jun-22
	US$ 000			US$ 000
None-GAAP adjusted (loss)/profit before income tax expense		(2,484	)		137

Note 2 The add-back adjustment was mainly associated with share-based compensation expenses of $17.9 million for the period of six months ended June 30, 2021 and $14.5 million for the six months ended June 30, 2022 respectively.

2

SOS Limited

Interim Condensed Consolidated Statement of Cash Flow

(US$ thousands, except share data and per share data, or otherwise noted)

	Six months ended			Six months ended
	30-Jun-21			30-Jun-22
	Unaudited			Unaudited
	$			$
Cash flows from operating activities:
Net (loss)		(20,411	)		(14,334	)
Adjustments:
Depreciation and amortization		5,509			2,700
Share-based compensation		17,927			14,472
Allowance for doubtful accounts-accounts receivable		-			189
Allowance for doubtful accounts-other receivable		-			800
Inventory		(102,566	)		11,217
Accounts receivable		-			20,391
Other receivables		(196,620	)		(138,389	)
Amount due from related parties		(10,183	)		(10,622	)
Intangible assets		(12,221	)		(837	)
Accrued liabilities		24			(3,085	)
Accounts payable		(13,118	)		5,400
Tax payable		(6,024	)		(2,323	)
Other payables		(8,338	)		7,415
Amount due to related parties		2,406			1,390
Contract liability		4,450			192
Lease liabilities		-			1,107
Net cash used in operating activities		(339,165	)		(104,317	)
Cash flows from investing activities:
Purchase of property, equipment and software		(34,205	)		-
Proceeds from disposal of property, equipment and software		-			1,597
Disposition of assets-P2P		3,500			-
Net cash (used in)/generated from investing activities		(30,705	)		1,597
Cash flows from financing activities:
Proceeds from share issuance, net of issuance costs		551,824			18,483
Net cash generated from financing activities		551,824			18,483
Effect of exchange rates on cash and cash equivalents		2,887			(6,443	)
Net increase/(decrease) on cash and cash equivalents		184,841			(90,680	)
Cash and cash equivalents at beginning of the period		610			338,026
Cash and cash equivalents at end of the period		185,451			247,346
Supplemental cash flow information
Cash paid for income tax		-			1,061

3

73997000 false --12-31 Q2 0001346610 0001346610 2022-01-01 2022-06-30 0001346610 2021-12-31 0001346610 2022-06-30 0001346610 2021-01-01 2021-06-30 0001346610 2020-12-31 0001346610 2021-06-30 iso4217:USD xbrli:pure xbrli:shares iso4217:USD xbrli:shares