Exhibit 99.1
MEIWU TECHNOLOGY COMPANY LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
December 31, 2022 | June 30, 2023 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash | $ | $ | ||||||
| Accounts receivable | ||||||||
| Inventories, net | ||||||||
| Advances to suppliers, net | ||||||||
| Other current assets | ||||||||
| Total Current Assets | ||||||||
| Property and equipment, net | ||||||||
| Right of use lease assets, net | ||||||||
| Intangible Assets | ||||||||
| Deferred Offering Costs | ||||||||
| Goodwill | ||||||||
| Total Non-current Assets | ||||||||
| TOTAL ASSETS | $ | $ | ||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Accounts payable | $ | $ | ||||||
| Short-term loan | ||||||||
| Contract liabilities | ||||||||
| Lease liabilities | ||||||||
| Tax Payable | ||||||||
| Accrued expenses and other current liabilities | ||||||||
| Total Current Liabilities | ||||||||
| Due to related parties | ||||||||
| Long-term loan | ||||||||
| Convertible notes | ||||||||
| Lease liabilities | ||||||||
| Total Non-current Liabilities | ||||||||
| TOTAL LIABILITIES | $ | $ | ||||||
| Commitment and Contingencies | ||||||||
| Stockholders’ Equity | ||||||||
| Ordinary Shares, par value, shares authorized; and shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively | $ | $ | ||||||
| Additional paid-in capital | ||||||||
| Accumulated deficit | ( | ) | ( | ) | ||||
| Accumulated other comprehensive loss | ( | ) | ( | ) | ||||
| Equity attributable to owners of the Company | ||||||||
| Non-controlling interests | ( | ) | ( | ) | ||||
| Total Stockholders’ Equity | ||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | $ | ||||||
| 1 |
MEIWU TECHNOLOGY COMPANY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER
COMPREHENSIVE LOSS
(Unaudited)
| For the Six Months Ended June 30, | ||||||||
| 2022 | 2023 | |||||||
| NET REVENUE | $ | $ | ||||||
| COST OF REVENUE | ( | ) | ( | ) | ||||
| GROSS PROFIT | ||||||||
| OPERATING EXPENSES | ||||||||
| Sales and Marketing Expenses | ( | ) | ( | ) | ||||
| General and Administrative Expenses | ( | ) | ( | ) | ||||
| Research and Development Expenses | ( | ) | ( | ) | ||||
| Total operating expenses | ( | ) | ( | ) | ||||
| (LOSS) INCOME FROM OPERATIONS | ( | ) | ||||||
| Gain on disposal of subsidiary | ( | ) | ||||||
| Other Income, net | ( | ) | ||||||
| LOSS BEFORE INCOME TAX | ( | ) | ( | ) | ||||
| Provision for Income Taxes | ||||||||
| NET LOSS | ( | ) | ( | ) | ||||
| Less: net loss attributable to non-controlling interest | ( | ) | ( | ) | ||||
| OTHER COMPREHENSIVE LOSS | ||||||||
| Foreign Currency Translation Adjustment | ( | ) | ( | ) | ||||
| TOTAL COMPREHENSIVE LOSS | $ | ( | ) | $ | ( | ) | ||
| LOSS PER SHARE – BASIC AND DILUTED | ) | ) | ||||||
| WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC AND DILUTED | ||||||||
| 2 |
MEIWU TECHNOLOGY COMPANY LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| For the Six Months Ended June 30, | ||||||||
| 2022 | 2023 | |||||||
| Net cash used in operating activities | ( | ) | ( | ) | ||||
| Net cash used in investing activities | ( | ) | ( | ) | ||||
| Net cash provided by financing activities | ||||||||
| Effect of changes of foreign exchange rate on cash | ( | ) | ||||||
| Net decrease in cash | ( | ) | ( | ) | ||||
| Cash, beginning of the period | ||||||||
| Cash, end of the period | ||||||||
| 3 |