Exhibit 99.1
SOS Limited
Interim Condensed Consolidated Balance Sheets
(US$ thousands, except share data and per share data, or otherwise noted)
| Twelve months as of | Six months as of | |||||||
| 31-Dec-23 | 30-Jun-24 | |||||||
| Audited | Unaudited | |||||||
| US$ | US$ | |||||||
| Current assets: | ||||||||
| Cash and cash equivalents | ||||||||
| Investment securities | ||||||||
| Accounts receivable – net | ||||||||
| Inventories | ||||||||
| Other receivables – net | ||||||||
| Amount due from related parties | ||||||||
| Tax recoverable | ||||||||
| Intangible assets | ||||||||
| Total current assets | ||||||||
| Non-current assets: | ||||||||
| Property equipment and software-net | ||||||||
| Goodwill | ||||||||
| Operating lease, right of use assets-net | ||||||||
| Total non-current assets | ||||||||
| Total assets | ||||||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current liabilities: | ||||||||
| Accrued liabilities | ||||||||
| Accounts payable | ||||||||
| Amount due to related parties | ||||||||
| Operating lease liabilities | ||||||||
| Tax payable | ||||||||
| Other payables | ||||||||
| Total current liabilities | ||||||||
| Total liabilities | ||||||||
| Shareholders’ equity | ||||||||
| Paid up capital | ||||||||
| Additional paid-in capital | ||||||||
| Statutory reserve | ||||||||
| Accumulated deficit | ( | ) | ( | ) | ||||
| Other comprehensive loss | ( | ) | ( | ) | ||||
| Non-controlling interest | ( | ) | ( | ) | ||||
| Total Shareholders’ equity | ||||||||
| Total liabilities and shareholders’ equity | ||||||||
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-23 | 30-Jun-24 | |||||||
| Unaudited | Unaudited | |||||||
| US$ | US$ | |||||||
| Revenue | ||||||||
| Business taxes and surcharges | ( | ) | ( | ) | ||||
| Net revenue | ||||||||
| Operating costs | ( | ) | ( | ) | ||||
| Gross profit | ||||||||
| Gross profit ratio | % | % | ||||||
| Operating expenses | ||||||||
| Selling expense | ( | ) | ( | ) | ||||
| General and administrative expense | ( | ) | ( | ) | ||||
| Impairment | ( | ) | ||||||
| Share-based compensation | ( | ) | ( | ) | ||||
| Total operating expenses | ( | ) | ( | ) | ||||
| Loss from operations | ( | ) | ( | ) | ||||
| Other income (expenses): | ||||||||
| Other income, net | ||||||||
| Total other income, net | ||||||||
| Loss before income taxes | ( | ) | ( | ) | ||||
| Income tax expense | ( | ) | ||||||
| Net loss | ( | ) | ( | ) | ||||
| Discontinued operations | ||||||||
| Gain on disposal of discontinued operations | ||||||||
| Net loss | ( | ) | ( | ) | ||||
| Non-controlling interest | ||||||||
| Net loss attributable to SOS Ltd | ( | ) | ( | ) | ||||
| Other comprehensive loss: | ||||||||
| Foreign currency translation adjustment-net of tax | ||||||||
| Total comprehensive loss | ( | ) | ( | ) | ||||
| Weighted average number of ordinary shares | ||||||||
| Basic | ||||||||
| Diluted* | ||||||||
| LOSS PER SHARE | ||||||||
| Basic | ( | ) | ( | ) | ||||
| Diluted* | ( | ) | ( | ) | ||||
Note 1: *
| Six months ended | ||||||||
| 30-Jun-23 | 30-Jun-24 | |||||||
| US$ | US$ | |||||||
| None-GAAP adjusted net loss | ( | ) | ( | ) | ||||
Note 2: The add-back adjustment was mainly associated with share-based compensation expenses of $2.1 million for the six months ended June 30, 2023, and $0.8 million for the six months ended June 30, 2024, respectively. The impact of these adjustments is considered immaterial to the overall financial statements.
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SOS Limited
Interim Condensed Consolidated Statements of Equity
(US$ thousands, except share data and per share data, or otherwise noted)
| Ordinary shares | Additional | Accumulated other | Non- | Total | ||||||||||||||||||||||||||||||||||||||||
| Class A shares | Class B shares | Treasury stock | Total shares | Par value | Paid-in capital | Accumulated deficits | Statutory Reserve | comprehensive income | controlling interests | shareholders’ equity | ||||||||||||||||||||||||||||||||||
| Balance, December 31, 2023 | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||||||
| Share-based compensation | - | |||||||||||||||||||||||||||||||||||||||||||
| Issuance of Class A Ordinary Shares and warrant | - | - | ||||||||||||||||||||||||||||||||||||||||||
| Net loss | - | - | - | - | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||||
| Disposition of continued operation | - | - | - | - | - | ( | ) | - | ||||||||||||||||||||||||||||||||||||
| Foreign currency translation adjustments | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2024 | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||||||||||||||||||||||||||||||
3
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-23 | 30-Jun-24 | |||||||
| Unaudited | Unaudited | |||||||
| US$ | US$ | |||||||
| Cash flows from operating activities: | ||||||||
| Net loss | ( | ) | ( | ) | ||||
| Less: Net income from discontinued operation | ||||||||
| Net loss from continuing operation | ( | ) | ( | ) | ||||
| Adjustments: | ||||||||
| Depreciation and amortization | ||||||||
| Share-based compensation | ||||||||
| Amortisation of right of use assets | ||||||||
| Accretion of finance leases | ||||||||
| Impairment of cryptocurrencies | ||||||||
| Operating cash flows before movements in working capital | ( | ) | ( | ) | ||||
| Changes in working capital: | ||||||||
| Inventory | ( | ) | ||||||
| Accounts receivable | ||||||||
| Other receivables | ( | ) | ( | ) | ||||
| Amount due from related parties | ||||||||
| Intangible assets | ( | ) | ||||||
| Accrued liabilities | ( | ) | ||||||
| Accounts payable | ( | ) | ||||||
| Tax payable | ||||||||
| Other payables | ( | ) | ||||||
| Amount due to related parties | ( | ) | ( | ) | ||||
| Lease liabilities | ( | ) | ( | ) | ||||
| Net cash used in operating activities from continuing operations | ( | ) | ( | ) | ||||
| Net cash used in in generating from discontinued operating activities | ||||||||
| Net cash used in operating activities | ( | ) | ( | ) | ||||
| Cash flows from financing activities: | ||||||||
| Repayment of principle portion of lease liabilities | ( | ) | ( | ) | ||||
| Proceeds from share issuance, net of issuance costs | ||||||||
| Net cash generated from/(used in) financing activities | ( | ) | ||||||
| Net decrease on cash and cash equivalents | ( | ) | ( | ) | ||||
| Cash and cash equivalents at beginning of the period | ||||||||
| Effect of exchange rates on cash and cash equivalents | ( | ) | ( | ) | ||||
| Cash and cash equivalents at end of the period | ||||||||
| Supplemental cash flow information | ||||||||
| Cash paid for income tax | ||||||||
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