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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/25/22 Roan Holdings Group Co., Ltd. 6-K 6/30/22 86:5M EdgarAgents LLC/FA |
Document/Exhibit Description Pages Size
1: 6-K Report of Foreign Private Issuer HTML 32K
2: EX-99.1 Unaudited Condensed Consolidated Financial HTML 644K
Statements for the Six Months Ended June 30, 2022
and 2021
3: EX-99.2 Management's Discussion and Analysis of Financial HTML 72K
Condition and Results of Operations
4: EX-99.3 Press Release Dated August 24, 2022 HTML 127K
10: R1 Document And Entity Information HTML 39K
11: R2 Condensed Consolidated Balance Sheets HTML 175K
12: R3 Condensed Consolidated Balance Sheets HTML 44K
(Parentheticals)
13: R4 Condensed Consolidated Statements of Operations HTML 136K
and Comprehensive Income (Loss) (Unaudited)
14: R5 Condensed Consolidated Statements of Operations HTML 32K
and Comprehensive Income (Loss) (Unaudited)
(Parentheticals)
15: R6 Condensed Consolidated Statements of Changes in HTML 61K
Shareholders? Equity (Deficit)
16: R7 Condensed Consolidated Statements of Cash Flows HTML 120K
(Unaudited)
17: R8 Organization and Principal Activities HTML 55K
18: R9 Liquidity HTML 30K
19: R10 Summary of Significant Accounting Policies HTML 30K
20: R11 Restricted Cash HTML 29K
21: R12 Accounts Receivable, Net HTML 33K
22: R13 Other Receivables HTML 28K
23: R14 Loans Due From Third Parties HTML 33K
24: R15 Property and Equipment, Net HTML 31K
25: R16 Intangible Assets, Net HTML 33K
26: R17 Accrued Expenses and Other Current Liabilities HTML 29K
27: R18 Income Tax and Tax Payables HTML 47K
28: R19 Earnings (Loss) Per Share HTML 32K
29: R20 Related Party Transactions and Balances HTML 30K
30: R21 Redeemable Convertible Preferred Shares HTML 39K
31: R22 Equity HTML 56K
32: R23 Segment Reporting HTML 48K
33: R24 Commitments and Contingencies HTML 36K
34: R25 Subsequent Events HTML 27K
35: R26 Accounting Policies, by Policy (Policies) HTML 35K
36: R27 Organization and Principal Activities (Tables) HTML 45K
37: R28 Restricted Cash (Tables) HTML 28K
38: R29 Accounts Receivable, Net (Tables) HTML 34K
39: R30 Other Receivables (Tables) HTML 27K
40: R31 Loans Due From Third Parties (Tables) HTML 32K
41: R32 Property and Equipment, Net (Tables) HTML 30K
42: R33 Intangible Assets, Net (Tables) HTML 34K
43: R34 Accrued Expenses and Other Current Liabilities HTML 29K
(Tables)
44: R35 Income Tax and Tax Payables (Tables) HTML 44K
45: R36 Earnings (Loss) Per Share (Tables) HTML 30K
46: R37 Equity (Tables) HTML 39K
47: R38 Segment Reporting (Tables) HTML 43K
48: R39 Commitments and Contingencies (Tables) HTML 33K
49: R40 Organization and Principal Activities (Details) HTML 56K
50: R41 Organization and Principal Activities (Details) - HTML 82K
Schedule of activities of the company and its
subsidiaries
51: R42 Liquidity (Details) HTML 48K
52: R43 Restricted Cash (Details) HTML 30K
53: R44 Restricted Cash (Details) - Schedule of company?s HTML 28K
restricted cash
54: R45 Accounts Receivable, Net (Details) - Schedule of HTML 30K
accounts receivable
55: R46 Accounts Receivable, Net (Details) - Schedule of HTML 30K
movement of allowance for doubtful accounts
56: R47 Other Receivables (Details) - Schedule of other HTML 29K
receivables
57: R48 Loans Due From Third Parties (Details) HTML 55K
58: R49 Loans Due From Third Parties (Details) - Schedule HTML 28K
of loans due from third parties
59: R50 Loans Due From Third Parties (Details) - Schedule HTML 27K
of allowance for credit losses
60: R51 Property and Equipment, Net (Details) HTML 25K
61: R52 Property and Equipment, Net (Details) - Schedule HTML 39K
of property and equipment, net
62: R53 Intangible Assets, Net (Details) HTML 26K
63: R54 Intangible Assets, Net (Details) - Schedule of HTML 37K
intangible assets
64: R55 Intangible Assets, Net (Details) - Schedule of HTML 39K
amortization expenses
65: R56 Accrued Expenses and Other Current Liabilities HTML 33K
(Details) - Schedule accrued expenses and other
current liabilities
66: R57 Income Tax and Tax Payables (Details) HTML 32K
67: R58 Income Tax and Tax Payables (Details) - Schedule HTML 30K
of income tax expense
68: R59 Income Tax and Tax Payables (Details) - Schedule HTML 38K
of reconciliation of the statutory tax rate to the
effective tax rate
69: R60 Income Tax and Tax Payables (Details) - Schedule HTML 45K
of deferred tax assets (liabilities), net
70: R61 Earnings (Loss) Per Share (Details) - Schedule of HTML 39K
computation of basic and diluted loss per common
share
71: R62 Related Party Transactions and Balances (Details) HTML 69K
72: R63 Redeemable Convertible Preferred Shares (Details) HTML 61K
73: R64 Equity (Details) HTML 82K
74: R65 Equity (Details) - Schedule of warrants activity HTML 57K
75: R66 Equity (Details) - Schedule of fair value of HTML 36K
series A warrants
76: R67 Segment Reporting (Details) HTML 26K
77: R68 Segment Reporting (Details) - Schedule of segment HTML 64K
reporting
78: R69 Commitments and Contingencies (Details) HTML 33K
79: R70 Commitments and Contingencies (Details) - Schedule HTML 33K
of operating lease related assets and liabilities
80: R71 Commitments and Contingencies (Details) - Schedule HTML 34K
of maturities of lease liabilities
81: R72 Subsequent Events (Details) HTML 27K
84: XML IDEA XML File -- Filing Summary XML 164K
82: XML XBRL Instance -- ea164063-6k_roanholdings_htm XML 981K
83: EXCEL IDEA Workbook of Financial Reports XLSX 140K
6: EX-101.CAL XBRL Calculations -- rahgf-20220630_cal XML 125K
7: EX-101.DEF XBRL Definitions -- rahgf-20220630_def XML 662K
8: EX-101.LAB XBRL Labels -- rahgf-20220630_lab XML 1.31M
9: EX-101.PRE XBRL Presentations -- rahgf-20220630_pre XML 660K
5: EX-101.SCH XBRL Schema -- rahgf-20220630 XSD 235K
85: JSON XBRL Instance as JSON Data -- MetaLinks 346± 498K
86: ZIP XBRL Zipped Folder -- 0001213900-22-050871-xbrl Zip 232K
Exhibit 99.3
Roan Holdings Group Co., Ltd. Reports First Half 2021 Financial Results
BEIJING and HANGZHOU, China, August 24, 2022 /PRNewswire/ -- Roan Holdings Group Co., Ltd. (“Roan” or the “Company”) (OTC Pink Sheets: RAHGF and RONWF), a comprehensive solution provider for industrial operation and capital market services, today reported its financial results for the six months ended June 30, 2022.
Key Financial Highlights for the First Half 2022 as compared to First Half 2021:
| · | Total revenue from services increased 238% from $0.33 million to $1.12 million. |
| · | Operating income increased 57% to $2.79 million, as compared to $1.78 million. |
| · | Net income was $0.56 million or $0.01 per share, compared to net loss of $0.46 million or $0.02 per share. |
| For the Six Months ended June 30, | Variance | |||||||||||||||
| ($ millions, except per share data, differences due to rounding) | 2022 (Unaudited) | 2021 (Unaudited) | Amount | % | ||||||||||||
| Revenues from services | $ | 1.12 | $ | 0.33 | $ | 0.79 | 238 | % | ||||||||
| Operating income | 2.79 | 1.78 | 1.01 | 57 | % | |||||||||||
| Net income (loss) | 0.56 | (0.46 | ) | 1.02 | 222 | % | ||||||||||
| Earnings (loss) per share | 0.01 | (0.02 | ) | 0.03 | 150 | % | ||||||||||
Mr. Junfeng Wang, Chairman of the Board commented, “The first half of 2022 was a productive half year for Roan, highlighted by a strong growth of 238% in revenues from services due to the growing revenues contributed from our industrial operation services. Our newly focused industrial operations services made up 84.6% of our revenues from services in the first half 2022, which is a testament to our successful development and continuous expansion on the industrial operation business in the Yangtse River Delta Region. During the first half of 2022, we have made remarkable progress through cooperating with leading enterprises on the industrial operation projects targeting new energy, new materials and semiconductor fields.”
“We will continue to leverage our past experience, performance, customer resources, market channels, relationships with institutional organizations and local government relations to continue expanding our service offerings of industrial operations step by step. We plan to implement multiple new strategic initiatives this second half of the year and continue aiming to set up an industrial service platform that could cover the industrial supply chain of new energy industrial operation and both the downstream and upstream resources in such fields. We plan to continue to promote our leading ‘industrial investment + industrial operation’ solutions of ‘whole process and life cycle’,” Mr. Wang said.
Mr. Wenhao Wang, Chief Financial Officer of Roan, commented: “Our first two fiscal quarters marked a strong growth in revenues and resulted in net profits as we begin to realize the benefits of our business strategy upgrade and the development of our industrial operation service. We managed to achieve a net income of $0.56 million for the first half of 2022, with an increase of 222% or 1.02 million, from a net loss of $0.46 million during the same period of last year. As we look toward the second half of 2022 and the next fiscal year, we expect our industrial operation service revenue to continue to increase as a percentage of our total revenue, and to deliver good financial performance for the Company, further enjoying the growth in the new energy and new materials sectors and bringing better returns for our shareholders.”
C:
First Half 2022 Financial Results
Revenues
The following table sets forth a breakdown of our revenue by services offered for the six months ended June 30, 2022 and 2021:
| For the Six Months ended June 30, | Variance | |||||||||||||||
| 2022 (Unaudited) | 2021 (Unaudited) | Amount | % | |||||||||||||
| Financial consulting service | $ | 165,212 | $ | 126,659 | $ | 38,553 | 30 | % | ||||||||
| Consulting services relating to debt collection | - | 204,129 | (204,129 | ) | (100 | )% | ||||||||||
| Healthcare service packages | 26,209 | - | 26,209 | 100 | % | |||||||||||
| Industrial Operation Service | 946,439 | - | 946,439 | 100 | % | |||||||||||
| Cost of revenue | (18,616 | ) | - | (18,616 | ) | 100 | % | |||||||||
| Revenues from services | $ | 1,119,244 | $ | 330,788 | $ | 788,456 | 238 | % | ||||||||
Financial consulting services
Revenue from financial consulting services was $165,212 for the six months ended June 30, 2022, as compared to $126,659 for the same period of last fiscal year. An increase of $38,553, or 30%, as compared to $126,659 for the same period of last fiscal year as the result of stronger sales efforts.
Consulting services relating to debt collection
Revenue from consulting services relating to debt collection was $nil for the six months ended June 30, 2022, as compared to $204,129 for the same period of last fiscal year. Due to the negative impact of COVID-19, the Chinese economy deteriorated, which increased the risk of debt collection and sale ability of collateral guaranteed for these debts. To avoid these risks, the Company did not renew or sign any consulting services contracts relating to debt collection during the six months ended June 30, 2022.
Revenue from healthcare services packages
Revenue from the health care service packages was $26,209 and minimal for the six months ended June 30, 2022 and 2021, respectively. The health service package was sold to the customers in the first quarter of 2022 when COVID-19 broke in Shangyu and Hangzhou.
Industrial operation services
Revenue from industrial operation services was $946,439 for the six months ended June 30, 2022, as compared to $nil for the same period of last fiscal year, which was mainly due to the Company providing industrial operations services starting in 2021.
Commission and fees on financial guarantee services
Commission and fees on financial guarantee services was $185,634 and $191,920 for the six months ended June 30, 2022 and 2021, respectively, reflecting a small decrease for business development.
Provision for financial guarantee services
The provisions for financial guarantee services are related to financial guarantee service business as per the requirement of local government. Provisions for financial guarantee services was reversed $195,915 for the six months ended June 30, 2022, as compared to recovery of provision for financial guarantee services of $15,586 for the same period of last fiscal year.
Interest and fee income
Interest and fee income primarily consisted of interest and fee income generated from loans due from third parties. Interest and fee income was $1,291,030, an increase of $20,991, or 1.65% for six months ended June 30, 2022 as compared to $1, 270,039 for the same period of 2021. The increase was mainly due to the increase in interest income from loans due from third parties, which was offset by the decrease in interest income on deposits with banks.
C:
C: 2
Operating expenses
Operating expenses decreased by $279,986 or 13.29%, to $1,826,134 for the six months ended June 30, 2022, as compared to $2,106,120 for the same period of last fiscal year. The decrease in operating expenses was primarily the result of our cost control strategies.
Net income (loss) and earnings (loss) per share
Net income was $563,372 for the six months ended June 30, 2022, as compared to net loss of $460,397 for the same period of last year.
After deducting for non-controlling interests, net income attributable to the Company’s shareholders was $322,005 for the six months ended June 30, 2022, as compared to net loss attributable to the Company’s shareholders of $527,427 for the same period of last year.
Earnings per share was $0.01 for the six months ended June 30, 2022, as compared to loss per share of $0.02 for the same period of last year.
Cash and cash equivalents
Cash and cash equivalents were $1,035,674 as of June 30, 2022, reflecting a decrease of $911,468 from $1,947,142 as of December 31, 2021, primarily because of the payment of bank loans during the six months ended June 30, 2021.
Recent developments
On August 15, 2022, the Company entered into a cooperation framework agreement with Guodiantou (Beijing) Integrated Energy Co., a subsidiary of State Power Investment Corporation Limited, for their future strategic cooperation on investing, constructing and operating new energy storage power stations initially in the Yangtze River Delta region.
On June 29, 2022, the Company entered into a Letter of Intent with Zhejiang Shangyu Cao’e River Economic Development Zone as the Company executes on its strategic plan to provide planning, support, and operations for new energy storage, new materials and semiconductor related projects.
On June 23, 2022, a new wholly-owned subsidiary of the Company, Zhongtan Future Industrial Operation (Hangzhou) Co., Ltd., was incorporated under the laws of the PRC, which provides services in industrial operation services focusing on new storage energy, new materials and semiconductor.
On June 8, 2022, the Company entered into an investment cooperation agreement for a new energy storage industrial park with Jiaxing Economic and Technological Development Zone.
On April 2, 2022, the Company’s subsidiary, Hangzhou Zeshi Investment Partnership (Limited Partnership), invested RMB 22 million (approximately $3.41 million) to a joint venture, Zhongxin Future (Hangzhou) Semiconductor Technology Industry Development Co., Ltd. and holds 22% of the equity in the joint venture. ZhongXin provides industrial operation solutions and will set up industrial parks by collaborating with local government in multiple areas for the manufacturing, marketing and distribution of the semiconductor products and new materials.
About Roan Holdings Group Co., Ltd.
Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a comprehensive solution provider for industrial operation and capital market services. Adhering to the platform strategy of “cross collaboration, technology empowerment, sustainability and stability, and combination of operation and finance resources”, the Company’s services focus on the new energy, new materials, and semiconductor industries. At the same time, the Company focuses on the application of innovative technologies in the consumer industry with respect to financial consumption, cultural and tourism consumption, and great health ecosystem. Roan aims to provide comprehensive solutions and supporting services for diversified institutional and local government clients across the entire industry chain. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.com.
C:
3
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Examples of such statements in this release include our plans to continue promoting and expanding our service offerings of industrial operations and step by step implement multiple new strategic initiatives this second half of the year; our intent to set up an industrial service platform that could cover the industrial supply chain both upstream and downstream of new energy industrial operations; and our expectation that our industrial operation service revenue will continue to increase as a percentage of our total revenue and to deliver good financial performance for the Company, further enjoying the growth in the new energy and new materials sectors and bringing better returns for our shareholders. Such statements are based upon management’s current expectations, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control and which could cause actual results to differ materially from statements made in this press release. Examples of these risks include whether we are able to grow our revenue from industrial operation services, in part from our multiple strategic initiatives, whether we will be timely in implementing such multiple strategic initiatives and whether such strategic initiatives will lead to new revenue, whether any growth would be profitable, whether there will be continued growth in the new energy and new materials sectors, whether the worldwide economic slow-down will impact these sectors materially, and whether we will be able to timely set up an industrial service platform covering both the downstream and upstream resources for industrial supply chain of new energy industrial operations. Further information regarding these and other risks, uncertainties or factors are included in the Company’s filings with the U.S. Securities and Exchange Commission which are available on our website at www.roanholdingsgroup.com/cwbg and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time.. The Company does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under law.
IR Contact:
At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775
Investor Relations Firm:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 (718)213-7386
C:
4
ROAN HOLDINGS GROUP CO., LTD.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. dollar, except for the number of shares)
| June 30, 2022 | December 31, 2021 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Cash and cash equivalents | $ | 1,035,674 | $ | 1,947,142 | ||||
| Restricted cash | 26,339,708 | 29,693,689 | ||||||
| Accounts receivable, net | 7,122,604 | 6,929,529 | ||||||
| Inventories | 3,027 | 33,598 | ||||||
| Loan receivables due from third parties | 26,375,018 | 23,751,471 | ||||||
| Due from related parties | 1,325 | 5,941 | ||||||
| Other current assets | 72,250 | 70,910 | ||||||
| Other receivables | 745,964 | 656,835 | ||||||
| Total current assets | 61,695,570 | 63,089,115 | ||||||
| Pledged deposits | 15,329 | 48,752 | ||||||
| Property and equipment, net | 64,146 | 77,073 | ||||||
| Intangible assets, net | 2,519,491 | 3,123,394 | ||||||
| Right of use assets | 103,801 | 37,313 | ||||||
| Goodwill | 267,331 | 267,331 | ||||||
| Total non-current assets | 2,970,098 | 3,553,863 | ||||||
| Total Assets | $ | 64,665,668 | $ | 66,642,978 | ||||
| LIABILITIES | ||||||||
| Customer pledged deposits | $ | - | $ | 7,846 | ||||
| Unearned income | 69,099 | 72,523 | ||||||
| Reserve for financial guarantee losses | 430,179 | 651,341 | ||||||
| Dividends payable | 480,000 | 480,000 | ||||||
| Tax payable | 3,012,439 | 2,614,257 | ||||||
| Due to related parties | 123,785 | 123,117 | ||||||
| Warrant liabilities | - | 16,998 | ||||||
| Operating lease liabilities, current portion | 58,269 | 65,498 | ||||||
| Accrued expenses and other liabilities | 1,488,507 | 1,155,903 | ||||||
| Bank loans | 5,671,758 | 5,961,460 | ||||||
| Total current liabilities | 11,334,036 | 11,148,943 | ||||||
| Operating lease liabilities, noncurrent portion | 61,172 | - | ||||||
| Deferred tax liabilities | 456,118 | 544,355 | ||||||
| Total non-current Liabilities | 517,290 | 544,355 | ||||||
| Total Liabilities | $ | 11,851,326 | $ | 11,693,298 | ||||
| Commitments and Contingencies | - | - | ||||||
| Shareholders’ Equity | ||||||||
| Ordinary Share, no par value, unlimited shares authorized; 25,287,851 and 25,287,851 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | - | - | ||||||
| Class A convertible preferred shares, no par value, unlimited shares authorized; 715,000 and 715,000 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | $ | 12,052,106 | $ | 11,711,727 | ||||
| Class B convertible preferred shares, no par value, unlimited shares authorized; 291,795,150 and 291,795,150 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively | 31,087,732 | 31,087,732 | ||||||
| Additional paid-in capital | 3,312,189 | 3,312,189 | ||||||
| Statutory reserve | 362,797 | 362,797 | ||||||
| Accumulated deficit | (14,824,176 | ) | (14,805,802 | ) | ||||
| Accumulated other comprehensive income | 1,437,234 | 3,128,086 | ||||||
| Total Roan Holdings Group Co., Ltd.’s Shareholders’ Equity | $ | 33,427,882 | $ | 34,796,729 | ||||
| Noncontrolling interests | 19,386,460 | 20,152,951 | ||||||
| Total Equity | 52,814,342 | 54,949,680 | ||||||
| Total Liabilities and Equity | $ | 64,665,668 | $ | 66,642,978 | ||||
C:
5
ROAN HOLDINGS GROUP CO., LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(Expressed in U.S. dollar, except for the number of shares)
| For the Six Months Ended June 30, | ||||||||
| 2022 | 2021 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Revenue from services | $ | 1,111,651 | $ | 330,788 | ||||
| Revenue from healthcare service packages | 26,209 | - | ||||||
| Cost of Revenue | (18,616 | ) | - | |||||
| Net revenue of services | 1,119,244 | 330,788 | ||||||
| Commission and fees on financial guarantee services | 185,634 | 191,920 | ||||||
| (Provision) recovery of provision for financial guarantee services | 195,915 | (15,586 | ) | |||||
| Commission and fee income on guarantee services, net | 381,549 | 176,334 | ||||||
| Interest and fees income | ||||||||
| Interest income on loans due from third parties | 1,112,816 | 998,827 | ||||||
| Interest income on deposits with banks | 178,214 | 271,212 | ||||||
| Total interest and fees income | 1,291,030 | 1,270,039 | ||||||
| Operating income | 2,791,823 | 1,777,161 | ||||||
| Operating expenses | ||||||||
| Salaries and employee surcharges | 658,544 | 564,110 | ||||||
| Other operating expenses | 1,184,588 | 1,514,281 | ||||||
| Changes in fair value of warrant liabilities | (16,998 | ) | 27,729 | |||||
| Total operating expenses | 1,826,134 | 2,106,120 | ||||||
| Other income (expenses) | ||||||||
| Other income (expenses), net | (147,823 | ) | (155,633 | ) | ||||
| Interest income (expenses), net | 9,1887 | 11,127 | ||||||
| Total other expenses | (55,936 | ) | (144,506 | ) | ||||
| Income (loss) before income taxes | 909,753 | (473,465 | ) | |||||
| Income tax benefit (expenses) | (346,381 | ) | 13,068 | |||||
| Net (loss) income | 563,372 | (460,397 | ) | |||||
| Less: Net loss attributable to noncontrolling interests | 241,367 | 67,030 | ||||||
| Net income (loss) attributable to Roan Holding Group Co., Ltd.’s shareholders | $ | 322,005 | $ | (527,427 | ) | |||
| Comprehensive income (loss) | ||||||||
| Net income (loss) | 563,372 | (460,397 | ) | |||||
| Foreign currency translation | (2,698,710 | ) | 529,793 | |||||
| Less: Comprehensive loss attributable to noncontrolling interests | (766,491 | ) | 226,482 | |||||
| Total comprehensive loss attributable to Roan Holdings Group Co., Ltd.’s shareholders | $ | (1,368,847 | ) | $ | (157,086 | ) | ||
| Weighted average number of ordinary share outstanding | ||||||||
| Basic and Diluted* | 25,287,887 | 25,287,887 | ||||||
| Loss per share | ||||||||
| Net income (loss) per share – Basic and Diluted | $ | 0.01 | $ | (0.02 | ) | |||
| * | The Company used net loss as the control number to determine whether the warrants, Class A and Class B preferred shares are anti-dilutive. Because the Company suffered loss, the number of warrants, Class A preferred shares and Class B preferred shares are excluded from the computation as the anti-dilutive effect. |
C:
6
ROAN HOLDINGS GROUP CO., LTD.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. dollar, except for the number of shares)
| For the Six Months Ended June 30, | ||||||||
| 2022 | 2021 | |||||||
| (Unaudited) | (Unaudited) | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net (loss) income | $ | 563,372 | $ | (460,397 | ) | |||
| Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
| Depreciation and amortization expenses | 530,060 | 539,327 | ||||||
| Bad debt provision | 21,149 | 330,573 | ||||||
| Provision (recovery of provision) for financial guarantee losses | (195,915 | ) | 15,586 | |||||
| Deferred tax benefits | (63,872 | ) | (219,226 | ) | ||||
| Changes in fair value of warrant liabilities | (16,998 | ) | 27,730 | |||||
| Loss from lease modification | - | 20,386 | ||||||
| Accretion of finance leases | 1,654 | 4,900 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivables | (157,705 | ) | 1,112,931 | ) | ||||
| Inventories | 30,571 | (2,330 | ) | |||||
| Other current assets | (1,340 | ) | 3,419,669 | |||||
| Other receivables | (92,457 | ) | 2,997,179 | |||||
| Pledged deposits and other non-current assets | 33,423 | 82,099 | ||||||
| Advances from customers | (3,424 | ) | (19,159 | ) | ||||
| Tax payable | 398,182 | 304,981 | ||||||
| Accrued expenses and other liabilities | 332,604 | 67,147 | ||||||
| Customer Pledged assets | (7,846 | ) | - | |||||
| Operating lease assets and liabilities | (1,370 | ) | - | |||||
| Net Cash Provided by Operating Activities | 1,370,088 | 8,221,396 | ||||||
| Cash Flows from Investing Activities: | ||||||||
| Repayment of loans to third parties | (3,962,433 | ) | (3,433,781 | ) | ||||
| Payment (disbursement)of due from related party | 5,284 | (11,160 | ) | |||||
| Net Cash Used in Investing Activities | (3,957,149 | ) | (3,444,941 | ) | ||||
| Cash Flows from Financing Activities: | ||||||||
| Repayment of bank loans | - | (2,942,152 | ) | |||||
| Disbursement of lease liabilities | (62,562 | ) | (13,320 | ) | ||||
| Net Cash Used in Financing Activities | (62,562 | ) | (2,955,472 | ) | ||||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash in banks | (1,615,826 | ) | 564,020 | |||||
| Net increase (decrease) in cash, cash equivalents, and restricted cash in banks | (4,265,449 | ) | 2,385,003 | |||||
| Cash, cash equivalents, and restricted cash in banks at beginning of year | 31,640,831 | 30,807,604 | ||||||
| Cash, cash equivalents, and restricted cash in banks at end of year | $ | 27,375,382 | $ | 33,192,607 | ||||
| Supplemental Cash Flow Information | ||||||||
| Cash paid for interest expense | $ | 128,035 | $ | 146,215 | ||||
| Cash paid for income taxes | $ | - | $ | - | ||||
7
| This ‘6-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed as of: | 8/25/22 | |||
| Filed on: | 8/24/22 | |||
| 8/15/22 | ||||
| For Period end: | 6/30/22 | |||
| 6/29/22 | ||||
| 6/23/22 | ||||
| 6/8/22 | ||||
| 4/2/22 | ||||
| 12/31/21 | 20-F | |||
| 6/30/21 | 6-K/A | |||
| List all Filings | ||||