Condensed Parent Company Only Financial Statements

12 Months Ended

Aug. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Parent Company Only Financial Statements

13. CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS

As a holding company, dividends received from SemiLEDs’ subsidiaries in Taiwan, if any, will be subject to withholding tax under Taiwan law, as well as statutory and other legal restrictions. The condensed parent company only financial information for SemiLEDs is presented below (in thousands):

	August 31,
Condensed Balance Sheets	2023		2022
ASSETS
Cash and cash equivalents	$	190	$	2,215
Prepaid expenses and other current assets		4,442		11,644
Total current assets		4,632		13,859
Intangible assets, net		1		1
Investments in subsidiaries		2,687		(4,567	)
TOTAL ASSETS	$	7,320	$	9,293
LIABILITIES AND EQUITY
Accrued expenses and other current liabilities	$	1,539	$	1,208
Long-term debt, current portion		4,586		4,587
Total current liabilities		6,125		5,795
Total equity		1,195		3,498
TOTAL LIABILITIES AND EQUITY	$	7,320	$	9,293

SemiLEDs had no contingencies, long‑term obligations and guarantees as of August 31, 2023 or August 31, 2022.

	Years Ended August 31,
Condensed Statements of Operations	2023			2022
Operating expenses:
Selling, general and administrative	$	452		$	638
Loss from operations		(452	)		(638	)
Other expenses:
Equity in losses from subsidiaries, net		(1,897	)		(1,869	)
Interest expenses		(323	)		(323	)
Other income (expense), net		(18	)		86
Total other expenses, net		(2,238	)		(2,106	)
Net loss	$	(2,690	)	$	(2,744	)

	Years Ended August 31,
Condensed Statements of Cash Flows	2023			2022
Net cash provided by (used in):
Operating activities	$	7,275		$	58
Investing activities		(9,300	)		—
Financing activities		—			995
Net increase in cash and cash equivalents		(2,025	)		1,053
Cash and cash equivalents at beginning of year		2,215			1,162
Cash and cash equivalents at end of year	$	190		$	2,215