Condensed Parent Company Only Financial Statements

12 Months Ended

Aug. 31, 2020

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Parent Company Only Financial Statements

14. 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	2020			2019
ASSETS
Cash and cash equivalents	$	251		$	52
Prepaid expenses and other current assets		9,078			7,085
Total current assets		9,329			7,137
Intangible assets, net		1			1
Investments in subsidiaries		(1,072	)		(1,169	)
TOTAL ASSETS	$	8,258		$	5,969
LIABILITIES AND EQUITY
Advance receipt toward the convertible note	$	500		$	500
Accrued expenses and other current liabilities		650			528
Long-term debt, current portion		4,586			—
Total current liabilities		5,736			1,028
Total non-current liabilities		—			3,200
Total equity		2,522			1,741
TOTAL LIABILITIES AND EQUITY	$	8,258		$	5,969

SemiLEDs had no contingencies, long‑term obligations and guarantees as of August 31, 2020 or August 31, 2019.

	Years Ended August 31,
Condensed Statements of Operations	2020			2019
Operating expenses:
Selling, general and administrative	$	641		$	398
Loss from operations		(641	)		(398	)
Other income (expenses):
Gain on disposal of investments		634			—
Equity in losses from subsidiaries, net		(230	)		(2,997	)
Interest expenses		(320	)		—
Other income (expenses), net		13			(170	)
Total other expenses, net		97			(3,167	)
Net loss	$	(544	)	$	(3,565	)

	Years Ended August 31,
Condensed Statements of Cash Flows	2020			2019
Net cash provided by (used in):
Operating activities	$	(2,641	)	$	(3,342	)
Investing activities		140			—
Financing activities		2,700			3,200
Net increase (decrease) in cash and cash equivalents		199			(142	)
Cash and cash equivalents at beginning of year		52			194
Cash and cash equivalents at end of year	$	251		$	52