NEW YORK, Jan. 29, 2018 /PRNewswire/ -- Seven Stars
Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), announced
today several updates to previously announced corporate
activities:
Q4/Full Year 2017 Results and 2018 Guidance: While
the Company (which was classified by SEC laws as a non-accelerated
filer in 2017 and prior reporting years) historically files its Q4
and Full Year financials at the end of March, it is actively
working with its Independent Auditor, Grant
Thornton China / Grant Thornton LLP, to advance that
date and shorten the Company's standard audit timeline, despite the
shortened existing work timeframe that is due to the 2 week long
Chinese New Year celebration. As far as 2018 Guidance, once
preliminary January revenue data is completely captured and
reviewed at the end of the month, the Company plans to issue its
full year 2018 guidance in an effort to provide investors with
greater clarity on management's full year outlook.
Fund Partnerships with both He Ying Private Equity Fund and
Cosco (http://en.chinacosco.com/): Both funds, which
were initially set up as partners with Seven Stars Cloud strictly
for the supply chain finance business, will continue to operate in
that space, but will now also partner on and with, the Company's
asset-backed securitization & tokenization business.
SuperApp: The Company's SuperApp is being repurposed and
augmented from its original use as a recommendation engine, to a
value component of Seven Stars Cloud's B2B Dynamic Business
Intelligence Engine (Engine #7). Further updates will be
provided as the integration unfolds.
US Headquarters: The Company is close to securing an
interim Manhattan-based office
space while negotiations for a larger US headquarters
continues.
CONTACT:
Jason
Finkelstein
Seven Stars Cloud Group,
Inc.
212-206-1216
http://www.sevenstarscloud.com/
Safe Harbor Statement
This press release contains certain statements that may
include "forward looking statements." All statements other than
statements of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
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SOURCE Seven Stars Cloud Group, Inc.