SHENZHEN, China, March 16, 2022 /PRNewswire/ -- TD Holdings, Inc.
(Nasdaq: GLG) (the "Company"), a commodities trading service
provider in China, today announced
its financial results for the year ended December 31, 2021.
Ms. Renmei Ouyang, the Chief
Executive Officer of the Company, stated, "We delivered exceptional
business results for the year ended December
31, 2021, driven by continued execution of our strategy and
our demonstrated ability to manage challenges brought by COVID-19
epidemic. For the year ended December 31,
2021, our revenue increased by 612% to $201.13 million and net loss narrowed down by 84%
to $0.94 million, compared with
$28.27 million and $5.95 million for the year ended December 31, 2020. The results give us the
confidence to reach operating break-even or even profitable soon
and we are delighted to see that we are moving in that
direction."
Ms. Renmei Ouyang continued, "For
the year ended December 31, 2021, we
accomplished several key milestones across the entire organization,
building a stronger foundation for ongoing success. Looking
forward, we intend to continue driving growth in our business by
leveraging our market leadership and investing to capitalize on
robust demand dynamics. We will keep exploring our business
opportunities in the markets of global gold spot trading, digital
cloud warehouse as well as lightweight new
materials. We believe that our unique market position
and visionary growth strategy allow us to increase return of
capital to our shareholders."
Fiscal Year 2021 Financial Highlights
- Revenue from commodities trading business was $201.13 million, consisting of $197.95 million from sales of commodities
products, and $3.18 million from supply chain management
services, compared with $28.27
million for the year ended December
31, 2020, representing an increase of $172.87 million or 612%.
- Net loss from continuing operations was $0.94 million, compared with net loss from
continuing operations of $2.40
million for the year ended December
31, 2020.
- Basic and diluted loss per share from continuing operations was
$0.01, compared with basic and
diluted loss per share from continuing operations of $0.05 for the year ended December 31, 2020.
Fiscal Year 2021 Financial Results
Revenues
For the year ended December 31,
2021, the Company sold non-ferrous metals to twenty-four
third party customers and three related party customers at fixed
prices, and earned revenues when the product ownership was
transferred to its customers. The Company earned revenues of
$173.90 million and $24.05 million, respectively, from sales of
commodity products to twenty-four third party customers and three
related party customers, compared with $8.25
million and $16.24 million,
respectively, for the year ended December
31, 2020.
For the year ended December 31,
2021, the Company earned commodity distribution commission
fees of $3.18 million from third
party vendors compared with commission fees of $1.63 million from seven third party customers
and distribution service fees of $2.14
million from three related party customers for the year
ended December 31, 2020.
Cost of revenue
Our cost of revenue primarily includes cost of revenue
associated with commodity product sales and cost of revenue
associated with management services of supply chain. Total cost of
revenue increased by $173.49 million,
or 704% to $198.13 million for the
year ended December 31, 2021, from
$24.64 million for the year ended
December 31, 2020, primarily due to
an increase of $173.44 million in
cost of revenue associated with commodity product sales. The cost
of revenue increased in line with the increased sales.
Selling, general, and administrative expenses
Selling, general and administrative expenses increased by
$5.10 million, or 168%, to
$8.14 million for the year ended
December 31, 2021, from $3.04 million for the year ended December 31, 2020. Selling, general and
administrative expenses primarily consisted of salary and employee
benefits, office rental expense, amortizations of intangible assets
and convertible promissory notes, professional service fees and
finance offering related fees. The increase was mainly attributable
to (1) amortization of intangible assets of $3.93 million, and (2) amortization of
convertible promissory notes of $0.49
million for the year ended December
31, 2021 while no such issuance for the year ended
December 31, 2020.
Share-based payment for service
On March 4, 2021, the Company
issued 750,000 fully-vested warrants with an exercise price of
$0.01, with a five-year life, to an
agent who was engaged to complete the warrant waiver and exercise
agreements. The Company applied Black-Scholes model and determined
the fair value of the warrants to be $1.70
million. Significant estimates and assumptions used included
stock price on March 4, 2021 of
$2.27 per share, risk-free interest
rate of one year of 0.08%, life of 5 years, and volatility of
71.57% for the year ended December 31,
2021.
On July 16, 2021, the Company
issued 140,000 shares of the Company's common stock as compensation
to a PR service provider for increasing the Company's visibility in
the financial news community, and recognized 141,400 Share-based
payment for service to profit.
For the year ended December 31,
2020, no such expenses incurred.
Interest income
Interest income was primarily generated from loans made to third
parties and related parties. Interest income increased by
$3.84 million, or 62%, to
$10.08 million for the year ended
December 31, 2021, from $6.24 million for the year ended December 31, 2020. The increase was primarily due
to loans made to Yunfeihu for the year ended December 31, 2021. For the year ended
December 31, 2021, $4.12 million was attributed to related party and
$5.94 million was generated from
third party vendors.
Amortization of beneficial conversion feature and relative
fair value of warrants relating to issuance of convertible
notes
For the year ended December 31,
2021, there was amortization of beneficial conversion
feature of $1.46 million of the three
convertible promissory notes issued on January 6, 2021, on March
4, 2021 and on October 4,
2021.
For the year ended December 31,
2020, there was full amortization of beneficial conversion
feature of $3.40 million and
amortization of relative fair value of warrants of $3.06 million relating to the convertible
promissory notes which was exercised in May
2020.
Net loss from continuing operations
Net loss from continuing for the year ended December 31, 2021 was $0.94 million, compared with net loss from
continuing operations of $2.40
million for the year ended December
31, 2020.
Net loss
Net loss for the year ended December 31,
2021 was $0.94 million,
compared with net loss of $5.95
million for the year ended December
31, 2020.
For the Year Ended December 31,
2021 Cash Flows
As of December 31, 2021, the
Company had cash and cash equivalents of $4.31 million, compared with $2.70 million as of December 31, 2020.
Net cash provided by operating activities was $8.03 million for the year ended December 31, 2021, compared with $29.86 million as of December 31, 2020.
Net cash used in investing activities was $71.52 million for the year ended December 31, 2021, compared with $132.58 million as of December 31, 2020.
Net cash provided by financing activities was $64.12 million for the year ended December 31, 2021, compared with $106.15 million as of December 31, 2020.
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in
commodity trading business and supply chain service business in
China. Its commodities trading
business primarily involves purchasing non-ferrous metal product
from upstream metal and mineral suppliers and then selling to
downstream customers. Its supply chain service business primarily
has served as a one-stop commodity supply chain service and digital
intelligence supply chain platform integrating upstream and
downstream enterprises, warehouses, logistics, information, and
futures trading. For more information, please visit
http://ir.tdglg.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of TD Holdings, Inc. and its
subsidiary companies. 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 these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. The following factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: there is
uncertainty about the spread of the COVID-19 epidemic and the
impact it will have on the Company's operations, the demand for the
Company's products and services, global supply chains and economic
activity in general. Investors 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 at
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.
For more information, please contact:
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
TD HOLDINGS, INC.
CONSOLIDATED
BALANCE SHEETS
As of December 31,
2021 and 2020
|
|
December 31,
|
|
|
December 31,
|
|
|
|
2021
|
|
|
2020
|
|
ASSETS
|
|
|
|
|
|
|
Current
Assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
4,311,068
|
|
|
$
|
2,700,013
|
|
Loans receivable from
third parties
|
|
|
115,301,319
|
|
|
|
18,432,691
|
|
Due from related
parties
|
|
|
11,358,373
|
|
|
|
55,839,045
|
|
Other current
assets
|
|
|
3,288,003
|
|
|
|
1,310,562
|
|
Total current
assets
|
|
|
134,258,763
|
|
|
|
78,282,311
|
|
|
|
|
|
|
|
|
|
|
Non-Current
Assets
|
|
|
|
|
|
|
|
|
Plant and equipment,
net
|
|
|
2,872
|
|
|
|
-
|
|
Goodwill
|
|
|
71,028,283
|
|
|
|
69,322,325
|
|
Intangible assets,
net
|
|
|
21,257,337
|
|
|
|
19,573,846
|
|
Right-of-use assets,
net
|
|
|
888,978
|
|
|
|
-
|
|
Total non-current
assets
|
|
|
93,177,470
|
|
|
|
88,896,171
|
|
|
|
|
|
|
|
|
|
|
Total
Assets
|
|
$
|
227,436,233
|
|
|
$
|
167,178,482
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
3,337,758
|
|
|
$
|
-
|
|
Bank
borrowings
|
|
|
1,129,288
|
|
|
|
1,653,247
|
|
Third party loans
payable
|
|
|
476,779
|
|
|
|
-
|
|
Advances from
customers
|
|
|
5,221,874
|
|
|
|
9,214,369
|
|
Due to related
parties
|
|
|
21,174
|
|
|
|
7,346,021
|
|
Income tax
payable
|
|
|
8,441,531
|
|
|
|
5,460,631
|
|
Lease
liabilities
|
|
|
310,665
|
|
|
|
-
|
|
Other current
liabilities
|
|
|
4,297,793
|
|
|
|
3,197,147
|
|
Acquisition
payable
|
|
|
-
|
|
|
|
15,384,380
|
|
Convertible
promissory notes
|
|
|
3,562,158
|
|
|
|
-
|
|
Total current
liabilities
|
|
|
26,799,020
|
|
|
|
42,255,795
|
|
|
|
|
|
|
|
|
|
|
Non-Current
Liabilities
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities
|
|
|
4,178,238
|
|
|
|
4,893,461
|
|
Lease
liabilities
|
|
|
586,620
|
|
|
|
-
|
|
Total non-current
liabilities
|
|
|
4,764,858
|
|
|
|
4,893,461
|
|
|
|
|
|
|
|
|
|
|
Total
liabilities
|
|
|
31,563,878
|
|
|
|
47,149,256
|
|
|
|
|
|
|
|
|
|
|
Commitments and
Contingencies (Note 16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
Common stock (par
value $0.001 per share, 600,000,000 shares
authorized; 138,174,150 and 79,131,207 shares issued and
outstanding
at December 31, 2021 and 2020, respectively)
|
|
|
138,174
|
|
|
|
79,131
|
|
Additional paid-in
capital
|
|
|
224,790,409
|
|
|
|
151,407,253
|
|
Statutory surplus
reserve
|
|
|
1,477,768
|
|
|
|
913,292
|
|
Accumulated
deficit
|
|
|
(42,200,603)
|
|
|
|
(39,255,945)
|
|
Accumulated other
comprehensive income
|
|
|
11,666,607
|
|
|
|
6,885,495
|
|
Total TD
Shareholders' Equity
|
|
|
195,872,355
|
|
|
|
120,029,226
|
|
|
|
|
|
|
|
|
|
|
Total
Equity
|
|
|
195,872,355
|
|
|
|
120,029,226
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities
and Equity
|
|
$
|
227,436,233
|
|
|
$
|
167,178,482
|
|
TD HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE INCOME (LOSS)
For the Years Ended
December 31, 2021 and
2020
(Expressed in U.S. dollars, except for the number of
shares)
|
|
For the Years
Ended
|
|
|
|
December 31,
|
|
|
|
2021
|
|
|
2020
|
|
Revenues
|
|
|
|
|
|
|
Sales of
commodity products - third parties
|
|
$
|
173,904,016
|
|
|
$
|
8,252,866
|
|
Sales of
commodity products - related parties
|
|
|
24,049,999
|
|
|
|
16,243,777
|
|
Supply
chain management services - third parties
|
|
|
3,180,227
|
|
|
|
1,631,318
|
|
Supply
chain management services - related parties
|
|
|
-
|
|
|
|
2,140,840
|
|
Total
Revenues
|
|
|
201,134,242
|
|
|
|
28,268,801
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
|
|
Commodity product sales - third parties
|
|
|
(173,996,000)
|
|
|
|
(7,853,215)
|
|
Commodity product sales - related parties
|
|
|
(24,045,511)
|
|
|
|
(16,744,094)
|
|
Supply
chain management services - third parties
|
|
|
(84,118)
|
|
|
|
(43,162)
|
|
Total operating
costs
|
|
|
(198,125,629)
|
|
|
|
(24,640,471)
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
|
3,008,613
|
|
|
|
3,628,330
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
Selling, general, and
administrative expenses
|
|
|
(8,137,481)
|
|
|
|
(3,035,598)
|
|
Share-based payment for service
|
|
|
(1,836,442)
|
|
|
|
-
|
|
Total operating
expenses
|
|
|
(9,973,923)
|
|
|
|
(3,035,598)
|
|
|
|
|
|
|
|
|
|
|
Other income
(expenses), net
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
10,079,776
|
|
|
|
6,239,943
|
|
Interest
expenses
|
|
|
(313,965)
|
|
|
|
(185,106)
|
|
Amortization of beneficial conversion feature
relating to issuance
of convertible promissory notes
|
|
|
(1,463,883)
|
|
|
|
(3,400,000)
|
|
Amortization of relative fair value of warrants
relating to issuance
of convertible promissory notes
|
|
|
-
|
|
|
|
(3,060,000)
|
|
Impairment of investment in an equity
investee
|
|
|
-
|
|
|
|
(410,000)
|
|
Other
income (expense), net
|
|
|
(285,774)
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Total other income
(expenses), net
|
|
|
8,016,154
|
|
|
|
(815,163)
|
|
|
|
|
|
|
|
|
|
|
Net income(loss)
from continuing operations before income taxes
|
|
|
1,050,844
|
|
|
|
(222,431)
|
|
|
|
|
|
|
|
|
|
|
Income tax
expenses
|
|
|
(1,991,201)
|
|
|
|
(2,177,924)
|
|
|
|
|
|
|
|
|
|
|
Net loss from
continuing operations
|
|
|
(940,357)
|
|
|
|
(2,400,355)
|
|
|
|
|
|
|
|
|
|
|
Net loss from
discontinued operations, net of tax
|
|
|
-
|
|
|
|
(3,551,258)
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
|
(940,357)
|
|
|
|
(5,951,613)
|
|
Net loss
attributable to TD Holdings, Inc.'s Stockholders
|
|
$
|
(940,357)
|
|
|
$
|
(5,951,613)
|
|
|
|
|
|
|
|
|
|
|
Other
comprehensive income
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(940,357)
|
|
|
$
|
(5,951,613)
|
|
Foreign currency
translation adjustment
|
|
|
4,781,112
|
|
|
|
7,219,776
|
|
Comprehensive
income
|
|
|
3,840,755
|
|
|
|
1,268,163
|
|
|
|
|
|
|
|
|
|
|
Weighted Average
Shares Outstanding-Basic
|
|
|
107,417,633
|
|
|
|
51,273,048
|
|
Weighted Average
Shares Outstanding- Diluted
|
|
|
121,099,328
|
|
|
|
51,273,048
|
|
|
|
|
|
|
|
|
|
|
(loss) per share-
basic
|
|
$
|
(0.01)
|
|
|
$
|
(0.12)
|
|
(loss) per share-
diluted
|
|
$
|
(0.01)
|
|
|
$
|
(0.12)
|
|
(loss) per share
continuing - basic and diluted
|
|
$
|
(0.01)
|
|
|
$
|
(0.05)
|
|
Income (loss) per
share discontinued - basic and diluted
|
|
$
|
-
|
|
|
$
|
(0.07)
|
|
TD HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH
FLOWS
For the Years Ended December
31, 2021 and 2020
(Expressed in U.S.
dollar)
|
|
For the Years
Ended
|
|
|
|
December 31,
|
|
|
|
2021
|
|
|
2020
|
|
Cash Flows from
Operating Activities:
|
|
|
|
|
|
|
Net loss
|
|
$
|
(940,357)
|
|
|
$
|
(5,951,613)
|
|
Less: Net loss from
discontinued operations
|
|
|
-
|
|
|
|
3,551,258
|
|
Net loss from
continuing operations
|
|
|
(940,357)
|
|
|
|
(2,400,355)
|
|
Adjustments to
reconcile net loss to net cash provided by (used in)
operating activities:
|
|
|
|
|
|
|
|
|
Depreciation of plant and equipment
|
|
|
622
|
|
|
|
-
|
|
Impairment of right of use assets
|
|
|
-
|
|
|
|
176,225
|
|
Amortization of right-of-use lease assets
|
|
|
45,309
|
|
|
|
-
|
|
Amortization of intangible assets
|
|
|
3,927,961
|
|
|
|
514,618
|
|
Amortization of beneficial conversion feature of
convertible
promissory notes
|
|
|
489,000
|
|
|
|
-
|
|
Interest
expense for convertible promissory notes
|
|
|
417,784
|
|
|
|
-
|
|
Stock-based compensation to senior
management
|
|
|
-
|
|
|
|
37,899
|
|
Share-based payment for service
|
|
|
1,836,442
|
|
|
|
-
|
|
Standstill fee relating to convertible promissory
notes
|
|
|
356,934
|
|
|
|
-
|
|
Amortization of beneficial conversion feature
relating to issuance
of convertible promissory notes
|
|
|
1,463,883
|
|
|
|
3,400,000
|
|
Amortization of relative fair value of warrants
relating to issuance
of convertible promissory notes
|
|
|
-
|
|
|
|
3,060,000
|
|
Impairment on investment securities
|
|
|
-
|
|
|
|
-
|
|
Impairment of equity investments
|
|
|
-
|
|
|
|
410,000
|
|
Deferred
tax liabilities
|
|
|
(825,945)
|
|
|
|
(135,930)
|
|
Changes in operating
assets and liabilities, (net of assets and
liabilities acquired and disposed):
|
|
|
|
|
|
|
|
|
Other
current assets
|
|
|
5,558,942
|
|
|
|
(776,626)
|
|
Inventories
|
|
|
-
|
|
|
|
403,471
|
|
Prepayments
|
|
|
-
|
|
|
|
13,317,930
|
|
Due from
related parties
|
|
|
(496,242)
|
|
|
|
(4,327,269)
|
|
Advances
from customers
|
|
|
(4,170,261)
|
|
|
|
6,692,708
|
|
Due from
third parties
|
|
|
(2,619,091)
|
|
|
|
5,321,874
|
|
Income
tax payable
|
|
|
2,808,268
|
|
|
|
2,313,853
|
|
Due to
related parties
|
|
|
(5,516,085)
|
|
|
|
-
|
|
Accounts
payable
|
|
|
3,299,002
|
|
|
|
-
|
|
Other
current liabilities
|
|
|
1,039,735
|
|
|
|
2,148,993
|
|
Lease
liabilities
|
|
|
886,866
|
|
|
|
(176,225)
|
|
Due to
third party loans payable
|
|
|
471,243
|
|
|
|
-
|
|
Net cash provided by
operating activities from continuing operations
|
|
|
8,034,010
|
|
|
|
29,981,166
|
|
Net cash used in
operating activities from discontinued operations
|
|
|
-
|
|
|
|
(125,133)
|
|
Net cash provided
by operating activities
|
|
|
8,034,010
|
|
|
|
29,856,033
|
|
|
|
|
|
|
|
|
|
|
Cash Flows from
Investing Activities:
|
|
|
|
|
|
|
|
|
Purchases of
intangible assets
|
|
|
(5,115,803)
|
|
|
|
-
|
|
Purchases of plant
and equipment
|
|
|
(3,469)
|
|
|
|
-
|
|
Purchases of
operating lease assets
|
|
|
(923,964)
|
|
|
|
-
|
|
Investment in
subsidiary, net of cash acquired
|
|
|
(15,579,946)
|
|
|
|
(82,227,328)
|
|
Payment made on loan
to related parties
|
|
|
-
|
|
|
|
(47,114,208)
|
|
Payment made on loans
to third parties
|
|
|
(108,800,053)
|
|
|
|
(173,673,614)
|
|
Collection of loans
from third parties
|
|
|
13,504,542
|
|
|
|
170,432,603
|
|
Collection of loans
from related parties
|
|
|
45,397,738
|
|
|
|
-
|
|
Net cash used in
investing activities from continuing operations
|
|
|
(71,520,955)
|
|
|
|
(132,582,547)
|
|
Net cash used in
investing activities from discontinued operations
|
|
|
-
|
|
|
|
-
|
|
Net cash used in
investing activities
|
|
|
(71,520,955)
|
|
|
|
(132,582,547)
|
|
|
|
|
|
|
|
|
|
|
Cash Flows from
Financing Activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments made
on loans to third parties
|
|
|
(558,088)
|
|
|
|
(318,748)
|
|
Repayment made on
loans to related parties
|
|
|
(1,901,724)
|
|
|
|
-
|
|
Proceeds from
borrowings from related parties
|
|
|
-
|
|
|
|
1,613,696
|
|
Proceeds from
issuance of common stock under ATM transaction
|
|
|
2,192,989
|
|
|
|
-
|
|
Proceeds from
registered direct offering, net of transaction costs
|
|
|
-
|
|
|
|
20,000,000
|
|
Proceeds from
issuance of common stock under private placement
transactions
|
|
|
57,877,941
|
|
|
|
18,500,000
|
|
Proceeds from
issuance of convertible promissory notes
|
|
|
6,500,000
|
|
|
|
30,000,000
|
|
Proceeds
from exercise of warrants
|
|
|
7,500
|
|
|
|
36,353,731
|
|
Net cash provided by
financing activities from continuing operations
|
|
|
64,118,618
|
|
|
|
106,148,679
|
|
Net cash provided by
financing activities from discontinued operations
|
|
|
-
|
|
|
|
-
|
|
Net cash provided
by financing activities
|
|
|
64,118,618
|
|
|
|
106,148,679
|
|
|
|
|
|
|
|
|
|
|
Effect of Exchange
Rate Changes on Cash
|
|
|
979,382
|
|
|
|
(2,499,428)
|
|
|
|
|
|
|
|
|
|
|
Net Increase in
Cash
|
|
|
1,611,055
|
|
|
|
922,737
|
|
Cash, Beginning of
Year
|
|
|
2,700,013
|
|
|
|
1,777,276
|
|
Cash, End of
Year
|
|
$
|
4,311,068
|
|
|
$
|
2,700,013
|
|
Less: Cash from
discontinued operations
|
|
|
-
|
|
|
|
-
|
|
Cash from
continuing operations
|
|
$
|
4,311,068
|
|
|
$
|
2,700,013
|
|
|
|
|
|
|
|
|
|
|
Cash paid for
interest expense
|
|
$
|
92,062
|
|
|
$
|
18,073
|
|
Cash paid for income
taxes
|
|
$
|
75,416
|
|
|
$
|
-
|
|
|
|
|
|
|
|
|
|
|
Supplemental
disclosure of non-cash investing and financing
activities
|
|
|
|
|
|
|
|
|
Right-of-use assets
obtained in exchange for operating lease obligations
|
|
$
|
-
|
|
|
$
|
186,191
|
|
Issuance of common
stocks in connection with private placements, net of issuance costs
with proceeds collected in advance in November 2019
|
|
$
|
-
|
|
|
$
|
1,600,000
|
|
Issuance of common
stocks in connection with conversion of convertible promissory
notes
|
|
$
|
-
|
|
|
$
|
30,000,000
|
|
Issuance of common
stocks in connection with cashless exercise of 962,022
warrants
|
|
$
|
-
|
|
|
$
|
1,269,869
|
|
Fair value of HC High
Summit assets disposed
|
|
$
|
-
|
|
|
$
|
5,320,768
|
|
HC High Summit
liabilities derecognized
|
|
$
|
-
|
|
|
$
|
(2,606,257)
|
|
Issuance of common
stocks in exchange of investments in one equity investee
|
|
$
|
1,439,826
|
|
|
$
|
-
|
|
View original
content:https://www.prnewswire.com/news-releases/td-holdings-inc-reports-fiscal-year-2021-financial-results-301504403.html
SOURCE TD Holdings, Inc.