Exhibit 99.1
AIRMEDIA GROUP INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
(In U.S. dollars in thousands, except share and per share data)
As of June 30, | ||||
2018 | ||||
(Unaudited) | ||||
Assets | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 4,369 | ||
Accounts receivable, net | 11,233 | |||
Notes receivable | 756 | |||
Prepaid concession fees | 4,765 | |||
Other current assets, net | 57,594 | |||
Amount due from related parties | 1,231 | |||
Total current assets | 79,948 | |||
Property and equipment, net | 14,768 | |||
Prepaid equipment costs | 1,177 | |||
Long-term investments | 100,318 | |||
Long-term deposits | 5,394 | |||
Other non-current assets | 1,559 | |||
TOTAL ASSETS | 203,164 | |||
Liabilities | ||||
Current liabilities: | ||||
Short-term loans | 6,196 | |||
Accounts payable | 46,189 | |||
Accrued expenses and other current liabilities | 11,371 | |||
Deferred revenue | 1,022 | |||
Income tax payable | 13,446 | |||
Total current liabilities | 78,224 | |||
Non-current liabilities: | ||||
Provision for earn out commitment | 24,709 | |||
Total liabilities | 102,933 |
AIRMEDIA GROUP INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET - CONTINUED
(In U.S. dollars in thousands, except share and per share data)
As of June 30, | ||||
2018 | ||||
(Unaudited) | ||||
Equity | ||||
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 127,662,057 shares issued as of June 30, 2018, respectively; 125,629,779 shares outstanding as of June 30, 2018) | 128 | |||
Additional paid-in capital | 286,736 | |||
Treasury stock (2,032,278 shares as of June 30, 2018) | (2,351 | ) | ||
Accumulated deficits | (190,859 | ) | ||
Accumulated other comprehensive income | 32,921 | |||
Total AirMedia Group Inc.'s shareholders' equity | 126,575 | |||
Non-controlling interests | (26,344 | ) | ||
Total equity | 100,231 | |||
TOTAL LIABILITIES AND EQUITY | $ | 203,164 |
AIRMEDIA GROUP INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(In U.S. dollars in thousands, except share and per share data)
Six months ended June 30, 2018 | ||||
(Unaudited) | ||||
Revenues | $ | 14,778 | ||
Business tax and other sales tax | (119 | ) | ||
Net revenues | 14,659 | |||
Less: Cost of revenues | 18,467 | |||
Gross loss | (3,808 | ) | ||
Operating expenses: | ||||
Selling and marketing | 4,408 | |||
General and administrative | 13,166 | |||
Total operating expenses | 17,574 | |||
Loss from operations | (21,382 | ) | ||
Interest income, net | 358 | |||
Other income, net | 664 | |||
Loss from operations before income taxes and share of loss on equity method investments | (20,360 | ) | ||
Income tax expenses | 17 | |||
Net loss before (loss) on equity method investments | (20,377 | ) | ||
Income (loss) on equity method investments | (488 | ) | ||
Net loss | (20,865 | ) | ||
Less: Net loss from operations attributable to non-controlling interests | (2,324 | ) | ||
Net loss from operations attributable to AirMedia Group Inc.'s shareholders | (18,541 | ) | ||
Net income (loss) | $ | (20,865 | ) | |
Net income (loss) attributable to AirMedia Group Inc.'s shareholders | $ | (18,541 | ) | |
Net loss attributable to AirMedia Group Inc.’s shareholders per ordinary share | ||||
- basic | $ | (0.15 | ) | |
- diluted | $ | (0.15 | ) | |
Net loss attributable to AirMedia Group Inc.’s shareholders per ADS | ||||
- basic | $ | (0.30 | ) | |
- diluted | $ | (0.30 | ) | |
Weighted average ordinary shares outstanding used in calculating net loss per ordinary share | ||||
- basic | 125,629,779 | |||
- diluted | 125,629,779 |