NOW NEWS DIGITAL MEDIA TECHNOLOGY CO LTD.

CIK:0001509477|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net revenue	$ 878,312	$ 637,547
Cost of revenue	(756,088)	(573,635)
Gross profit	122,224	63,912
Selling expenses	(332,296)	(174,237)
General and administrative expenses	(518,844)	(343,591)
Total operating expense	(851,140)	(517,828)
Operating loss	(728,916)	(453,916)
Other income (expense)
Interest income	3	179
Interest expense	(95)	(65)
Other (expense) income, net	(1,379)	802
Total other (expense) income	(1,471)	916
Loss from continuing operations before income taxes	(730,387)	(453,000)
Income taxes	0	0
Loss from continuing operations	(730,387)	(453,000)
Loss from discontinued operations, net of income taxes	0	0
Net loss	(730,387)	(453,000)
Net loss attributable to noncontrolling interests:
Net loss from continuing operations	278,032	180,859
Net loss from discontinued operations	0	0
Total net loss attributable to noncontrolling interest	278,032	180,859
Net loss attributable to NowNews Digital Media Technology Co. Ltd.	(452,355)	(272,141)
Foreign currency translation (loss) gain	(2,666)	187,299
Comprehensive loss	(455,021)	(84,842)
Other comprehensive (income) loss attributable to noncontrolling interests	(7,111)	2,724
Comprehensive loss attributable to NowNews Digital Media Technology Co. Ltd.	(462,132)	(82,118)
Amount attributable to common stockholders:
Net loss from continuing operations, net of income taxes	(452,355)	(272,141)
Net loss from discontinued operations, net of income taxes	0	0
Net loss attributable to common stockholders	$ (452,355)	$ (272,141)
Net loss attributable to common stockholders - basic and diluted
Loss from continuing operations	$ (0.02)	$ (0.01)
Loss from discontinued operations	0	0
Net loss attributable to common stockholders	$ (0.02)	$ (0.01)
Weighted average shares outstanding, basic and diluted	23,072,000	23,072,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (730,387)	$ (453,000)
Depreciation	21,128	15,327
Amortization	5,153	656
Adjustments to reconcile net loss to net cash provided by operating activities:
Decrease in accounts receivable	117,037	198,010
Decrease in related-parties trade receivable	19,278	53,506
Increase in advance to supplier	0	(248,587)
Decrease in security deposits	26,585	2,462
Increase in other current assets	(389,383)	(562)
(Decrease) increase in accounts payable	(1,461)	47,373
Decrease in accrued expenses	(91,285)	(7,277)
Decrease in other current liabilities	(5,149)	(1,388)
Net cash used in continuing activities	(1,028,484)	(393,480)
Net cash used in discontinued operations	0	0
Net cash used in operating activities	(1,028,484)	(393,480)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to fixed assets	(22,215)	(9,641)
Acquisition of subsidiary equity interest	0	(30,957)
Net cash used in continuing activities	(22,215)	(40,598)
Net cash used in discontinued operations	0	0
Net cash used in investing activities	(22,215)	(40,598)
CASH FLOWS FROM FINANCING ACTIVITIES
Net proceeds from loans from related parties	1,111,865	110,756
Payments of capital lease obligations	(552)	(9,620)
Capital contributions from noncontrolling interest	446,735	709,142
Net cash provided by continuing activities	1,558,048	810,278
Net cash provided by discontinued operations	0	0
Net cash provided by financing activities	1,558,048	810,278
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS	2,833	24,230
NET INCREASE IN CASH & CASH EQUIVALENTS	510,182	400,430
NET INCREASE IN CASH & CASH EQUIVALENTS FROM DISCONTINUED OPERATIONS	0	0
NET INCREASE IN CASH & CASH EQUIVALENTS FROM CONTINUING OPERATIONS	510,182	400,430
CASH & CASH EQUIVALENTS, BEGINNING BALANCE	186,494	244,691
CASH & CASH EQUIVALENTS, ENDING BALANCE	696,676	645,121
SUPPLEMENTAL DISCLOSURES:
Income tax paid	0	0
Interest paid	$ 95	$ 65

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 696,676	$ 186,494
Accounts receivable, net	582,350	687,362
Due from related parties	7,136	26,051
Other current assets	478,112	91,636
Current assets of discontinued operations	15	15
Total Current Assets	1,764,289	991,558
Furniture, fixture, and equipment, net	282,275	276,059
Security deposits, non-current	41,980	67,478
Intangible assets, net	20,182	21,800
Total Assets	2,108,726	1,356,895
Current Liabilities
Long-term obligation under capital lease, current	2,318	2,238
Accounts payable	146,066	144,849
Accrued expenses	880,690	957,956
Due to related parties	2,727,916	1,612,260
Other current liabilities	3,536	8,559
Current liabilities of discontinued operations	104,638	102,731
Total Current Liabilities	3,865,164	2,828,593
Long-term obligation under capital lease	2,912	3,442
Total Liabilities	3,868,076	2,832,035
Commitments and contingencies (Note 11)
Equity
Capital stock - $.001 par value
Common Stock, $.001 par value, 50,000,000 shares authorized, 23,072,000 and 23,072,000 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	23,072	23,072
Additional paid-in capital	9,184,634	9,184,634
Subscriptions received in advance	530,000	530,000
Accumulated deficit	(12,322,143)	(11,869,788)
Accumulated other comprehensive income	16,506	16,234
Total Stockholders' deficit	(2,567,931)	(2,115,848)
Noncontrolling Interests	808,581	640,708
Total Deficit	(1,759,350)	(1,475,140)
Total Liabilities and Equity	$ 2,108,726	$ 1,356,895