San Lotus Holding Inc

CIK:0001528749|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenue - insurance commissions	$ 17,594	$ 0
General and administrative expenses	378,123	46,930
Impairment loss	2,156	0
Loss from operations	(362,685)	(46,930)
Other income	(2,730)	(362)
Net loss from continuing operations	(365,415)	(47,292)
Net income from discontinued operations	0	(35,917)
Net income (loss)	(365,415)	(83,209)
Net loss attributable to noncontrolling interest	287	0
Net loss attributable to San Lotus Holdings Inc.	(365,128)	(83,209)
Comprehensive loss:
Net loss	(365,415)	(83,209)
Foreign exchange translation	65,555	472,985
Total comprehensive loss	$ (299,860)	$ 389,776
Loss per share - Basic and diluted	$ (0.01)	$ (0.00)
Weighted average shares outstanding - basic and diluted	39,725,558	39,725,558

CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net loss	$ (7,289,407)	$ (147,778)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	33,843	39,697
Impairment loss	6,017,900	0
Gain on sale of assets	0	(9,786)
Changes in operating assets and liabilities:
Accounts receivable	(2,548)	824
Prepaid and other current assets	(125,055)	(68,742)
Other assets	(1,573)	(1,170)
Accounts payable	8,527	226,779
Accounts payable - related party	67,185	0
Other current liabilities	(512,415)	0
Net cash provided by (used in) operating activities - continuing operations	(1,803,543)	39,824
Net cash provided by operating activities - discontinued operations	0	2,419
Net cash provided by (used in) operating activities	(1,803,543)	42,243
Cash Flows from Investing Activities
Cash acquired from AHI Film net of cash paid	111,701	0
Cash acquired from AHI Record net of cash paid	1,972	0
Cash acquired from San Lotus (BVI) net of cash paid	99	0
Consideration paid to acquire Da Ren Insurance Broker net of cash acquired	(298,138)	0
Advance to AHI Film	0	(812,758)
Collection of long-term receivable	0	929,013
Purchase of property and equipment	(356,582)	(40,288)
Proceeds from sale of equipment	0	44,000
Net cash provided by investing activities	(540,948)	119,967
Cash Flows from Financing Activities
Advances to related parties	(5,300,088)	(130,362)
Prepayment for purchase of treasury stock	(39,313)	0
Net cash used in financing activities	(5,339,401)	(130,362)
Effect of exchange rate on cash	119,780	13,895
Net decrease in cash and cash equivalents	(7,564,112)	45,743
Cash and cash equivalents, beginning of the period	7,805,660	7,681
Cash and cash equivalents, ending of the period	241,548	53,424
Cash paid during the period for:
Interest expense	0	0
Income taxes	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash	$ 241,548	$ 7,805,660
Accounts receivable	8,262	0
Prepaid expense and other current assets	95,736	127,379
Due from related party	184,216	189,546
Other current assets	128,413	0
Total Current Assets	658,175	8,122,585
Long-term receivable	8,688,955	8,148,290
Property and equipment, net	6,705,336	5,956,385
Intangible assets	158,459	0
Deferred tax asset	43,041	0
Other assets	16,493	7,844
Total Assets	16,270,459	22,235,104
Current liabilities
Accounts payable and accrued liabilities	77,453	4,901
Accounts payable and accrued liabilities - related party	100,345	33,160
Due to related parties	101,010	7,023
Other current liabilities	179,028	0
Total Liabilities	457,836	45,084
Stockholders' Equity
Common stock	42,003,333	42,003,333
Additional paid-in capital	24,000	24,000
Treasury stock	(2,277,775)	(2,277,775)
Accumulated deficit	(23,771,094)	(16,482,355)
Accumulated other comprehensive loss	(47,278)	(1,088,183)
Total San Lotus Holding Inc. stockholders' equity	15,931,186	22,179,020
Noncontrolling interest	(118,563)	0
Total Equity	15,812,623	22,179,020
Total Liabilities and Equity	$ 16,270,459	$ 22,224,104