Condensed Parent Company Only Financial Statements

12 Months Ended

Aug. 31, 2016

Condensed Parent Company Only Financial Statements

Condensed Parent Company Only Financial Statements

15. CONDENSED PARENT COMPANY ONLY FINANCIAL STATEMENTS

As a holding company, dividends received from SemiLEDs’ subsidiaries in Taiwan, if any, will be subject to withholding tax under Taiwan law, as well as statutory and other legal restrictions. The condensed parent company only financial information for SemiLEDs is presented below (in thousands):

	August 31,
Condensed Balance Sheets	2016		2015
ASSETS
Cash and cash equivalents	$	945	$	887
Prepaid expenses and other current assets		3,548		3,262
Total current assets		4,493		4,149
Intangible assets, net		2		56
Investments in subsidiaries		7,441		24,829
Investments in unconsolidated entities		434		714
TOTAL ASSETS	$	12,370	$	29,748
LIABILITIES AND EQUITY
Advance receipt toward the convertible note	$	500	$	—
Accrued expenses and other current liabilities		267		452
Total current liabilities		767		452
Total equity		11,603		29,296
TOTAL LIABILITIES AND EQUITY	$	12,370	$	29,748

SemiLEDs had no contingencies, long‑term obligations and guarantees as of August 31, 2016 or August 31, 2015.

	Years Ended August 31,
Condensed Statements of Operations	2016		2015
Operating expenses:
Selling, general and administrative	$	691	$	772
Loss from operations		(691)		(772)
Other income (expenses):
Impairment loss on investment		(280)		—
Equity in losses from subsidiaries, net		(20,302)		(12,504)
Interest income		0		2
Other expenses, net		(2)		0
Total other expenses, net		(20,584)		(12,502)
Net loss	$	(21,275)	$	(13,274)

	Years Ended August 31,
Condensed Statements of Cash Flows	2016		2015
Net cash provided by (used in):
Operating activities	$	(727)	$	(451)
Investing activities		(2,600)		(6,500)
Financing activities		3,385		—
Net increase (decrease) in cash and cash equivalents		58		(6,951)
Cash and cash equivalents at beginning of year		887		7,838
Cash and cash equivalents at end of year	$	945	$	887