SOS Limited (SOS) 6-K24 Sep 24Report of Foreign Private IssuerFinancial data

Company Profile

Document And Entity Information

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	SOS LIMITED
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001346610
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-38051

Interim Condensed Consolidated

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 246,727	$ 279,177
Investment securities	200	307
Accounts receivable – net	512	809
Inventories	30,437	32,875
Other receivables – net	195,536	79,970
Amount due from related parties	9,843	39,582
Tax recoverable	884	1,279
Intangible assets	21,396	21,396
Total current assets	505,535	455,395
Non-current assets:
Property equipment and software-net	19,283	28,048
Goodwill	72	72
Operating lease, right of use assets-net	95	377
Total non-current assets	19,450	28,497
Total assets	524,985	483,892
Current liabilities:
Accrued liabilities	40,834	15,192
Accounts payable	12,724	36,740
Amount due to related parties	642	1,641
Operating lease liabilities	95	377
Tax payable	82	77
Other payables	40,080	7,492
Total current liabilities	94,457	61,519
Total liabilities	94,457	61,519
Shareholders’ equity
Paid up capital	24,458	665
Additional paid-in capital	732,195	730,345
Statutory reserve	161	161
Accumulated deficit	(287,561)	(276,672)
Other comprehensive loss	(33,263)	(28,512)
Non-controlling interest	(5,462)	(3,614)
Total Shareholders’ equity	430,528	422,373
Total liabilities and shareholders’ equity	$ 524,985	$ 483,892

Interim Condensed Consolidate_2

Interim Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue		$ 60,531	$ 41,835
Business taxes and surcharges		(17)	(29)
Net revenue		60,514	41,806
Operating costs		(58,083)	(41,716)
Gross profit		$ 2,431	$ 90
Gross profit ratio		4%	0.20%
Operating expenses
Selling expense		$ (2,199)	$ (1,142)
General and administrative expense		(14,513)	(9,354)
Impairment			(81)
Share-based compensation		(807)	(2,053)
Total operating expenses		(17,519)	(12,630)
Loss from operations		(15,088)	(12,540)
Other income (expenses):
Other income, net		2,333	988
Total other income, net		2,333	988
Loss before income taxes		(12,755)	(11,552)
Income tax expense		4	(642)
Net loss		(12,751)	(12,194)
Discontinued operations
Gain on disposal of discontinued operations		1
Net loss		(12,750)	(12,194)
Non-controlling interest		1,848	1,497
Net loss attributable to SOS Ltd		(10,902)	(10,697)
Other comprehensive loss:
Foreign currency translation adjustment-net of tax		4,738	8,706
Total comprehensive loss		$ (6,164)	$ (1,991)
Weighted average number of ordinary shares
Basic (in Shares)		364,210,299	3,440,476,475
Diluted (in Shares)	[1]	364,210,299	3,440,476,475
LOSS PER SHARE
Basic (in Dollars per share)		$ (0.0299)	$ (0.0031)
Diluted (in Dollars per share)	[1]	$ (0.0299)	$ (0.0031)
None-GAAP adjusted net loss		$ (807)	$ (8,644)

[1]N/A Anti-diluted shares not considered

Interim Condensed Consolidate_3

Interim Condensed Consolidated Statements of Stockholders' Equity - 6 months ended Jun. 30, 2024 - USD ($) $ in Thousands	Ordinary shares Class A shares	Ordinary shares Class B shares	Treasury Stock	Total shares	Additional Par value	Additional Paid-in capital	Accumulated deficits	Statutory Reserve	Accumulated other comprehensive income	Non- controlling interests	Total
Balance at Dec. 31, 2023					$ 665	$ 730,345	$ (276,672)	$ 161	$ (28,512)	$ (3,614)	$ 422,373
Balance (in Shares) at Dec. 31, 2023	121,992,169	13,971,251	(134,636,546)	1,326,874
Share-based compensation					26	781					807
Share-based compensation (in Shares)	122,880	5,004,000		5,126,880
Issuance of Class A Ordinary Shares and warrant					23,767	1,069					24,836
Issuance of Class A Ordinary Shares and warrant (in Shares)	242,095,250			242,095,250
Net loss							(10,902)			(1,848)	(12,750)
Disposition of continued operation							13		(13)
Foreign currency translation adjustments									(4,738)		(4,738)
Balance at Jun. 30, 2024					$ 24,458	$ 732,195	$ (287,561)	$ 161	$ (33,263)	$ (5,462)	$ 430,528
Balance (in Shares) at Jun. 30, 2024	364,210,299	18,975,251	(134,636,546)	248,549,004

Interim Condensed Consolidate_4

Interim Condensed Consolidated Statement of Cash Flow - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (10,902)	$ (10,697)
Less: Net income from discontinued operation	1
Net loss from continuing operation	(10,903)	(10,697)
Adjustments:
Depreciation and amortization	8,765	106
Share-based compensation	807	2,053
Amortisation of right of use assets	281	268
Accretion of finance leases	6	19
Impairment of cryptocurrencies		81
Operating cash flows before movements in working capital	(1,044)	(8,170)
Changes in working capital:
Inventory	(155)	1,224
Accounts receivable	297	56
Other receivables	(115,566)	(12,320)
Amount due from related parties	29,739	23,916
Intangible assets		(350)
Accrued liabilities	25,642	(3,510)
Accounts payable	(24,016)	1,089
Tax payable	400	211
Other payables	32,588	(3,857)
Amount due to related parties	(999)	(1)
Lease liabilities	(282)	(269)
Net cash used in operating activities from continuing operations	(53,396)	(1,981)
Net cash used in in generating from discontinued operating activities	1
Net cash used in operating activities	(53,395)	(1,981)
Cash flows from financing activities:
Repayment of principle portion of lease liabilities	(288)	(288)
Proceeds from share issuance, net of issuance costs	24,836
Net cash generated from/(used in) financing activities	24,548	(288)
Net decrease on cash and cash equivalents	(28,847)	(2,269)
Cash and cash equivalents at beginning of the period	279,177	259,492
Effect of exchange rates on cash and cash equivalents	(3,603)	(7,339)
Cash and cash equivalents at end of the period	246,727	249,884
Supplemental cash flow information
Cash paid for income tax		$ 646