ADDED
had 3,297,452 shares of outstanding ordinary shares, par value $0.06 per share.
Exhibits 33 Signature 34 i Forward-Looking Statements The following discussion and analysis of our financial condition, results of operations and notes to the unaudited condensed consolidated financial statements included herein contains forward-looking statements that reflect our plans, beliefs, expectations and current views with respect to, among other things, future events and financial performance.
Statements regarding our future and projections relating to revenue, cost of sales, expenses, costs, income (loss), and potential growth opportunities are typical of such statements.
Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Risk Factors in our annual report on Form 10-K (the 10-K ) filed on April 15, 2024 with the U.S.
The forward-looking statements appear in a number of places in the section titled Management s Discussion and Analysis of Financial Condition and Results of Operations .
In some cases, you can identify forward-looking statements by the words may, might, will, could, would, should, expect, is/are likely to, intend, plan, objective, anticipate, believe, estimate, predict, potential, target, continue and ongoing, or the negative of these terms or other comparable terminology intended to identify statements about the future.
The forward-looking statements and opinions are based upon current expectations and, while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information.
These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.
We caution that you should not place undue reliance on any of our forward-looking statements.
We undertake no obligation to update forward-looking statements to reflect developments or information obtained after the date hereof and disclaim any obligation to do so except as required by applicable laws.
REMOVED
had 2,610,785 shares of outstanding ordinary shares, par value $0.06 per share.
March 3, 2016 United States 100 % Investment holding (b) History of the Group and reorganization Organization and General The Company is authorized to issue 500,000,000 ordinary shares with a par value of $ 0.06 per share.
As of December 31, As of June 30, 2023 2024 US$ 000 US$ 000 Accounts receivable 5,485 441 5.
Prepayments and other current assets The prepayments and other assets consist of the following: As of December 31, As of June 30, 2023 2024 US$ 000 US$ 000 Prepayments and other current assets Prepayment for equipment 2,285 7,463 Deposits 328 328 Others 367 341 Total 2,980 8,132 * The others mainly include prepaid consulting service fees and other sundry receivables.
Digital assets As of December 31, As of June 30, 2023 2024 US$ 000 US$ 000 BTC 436 815 Total 436 815 Additional information about bitcoin: For the six months ended June 30, 2024, the Group generated bitcoins primarily through mining services.
The following table presents additional information about bitcoins for the years ended December 31, 2023 and for the six months ended June 30, 2024, respectively: As of December 31, As of June 30, 2023 2024 US$ 000 US$ 000 Opening balance 91 436 Receipt of bitcoins from mining services 2,882 939 Exchange of BTC into USDT ( 2,537 ) ( 560 ) Ending balance 436 815 For the six months ended June 30, 2024 and for the years ended December 31, 2023, the Group recognized impairment of Nil against bitcoins.
As of December 31,2023 and June 30, 2024, the Group held 24.3 % and 24.3 % of the equity interests in Met Chain Co Limited, respectively.
The Group recognized gain on equity method investments of $ 1,000 and $ 25,000 for the six months ended June 30, 2023 and 2024, respectively.
Property and equipment, net Property and equipment consists of the following: As of December 31, As of June 30, 2023 2024 US$ 000 US$ 000 Cost: Miners for Bitcoin 17,241 18,384 Total cost 17,241 18,384 Less: Accumulated depreciation 4,539 6,320 Property and equipment, net 12,702 12,064 Depreciation expense recognized for the six months ended June 30, 2023 and 2024 were $ 1,674 , and $ 1,781 , respectively.
As of June 30, 2024, the Group had 11.62 BTC pledged as collateral, with an outstanding loan balance of 510,000 USDT.