UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 2,839,286	$ 3,768,897
Restricted cash		2,994,364
Accounts receivable, net	4,102,124	1,689,415
Licensed content, current	962,026	556,591
Prepaid expenses	310,696	362,421
Deferred issuance cost		551,218
Other current assets	152,766	157,594
Total current assets	8,366,898	10,080,500
Property and equipment, net	78,674	154,434
Licensed content, non-current	17,946,839	21,085
Intangible assets, net	2,327,378	2,412,591
Goodwill	6,648,911	6,648,911
Long term investments	6,698,160	450,115
Other non-current assets	4,271,203	58,089
Total assets	46,338,063	19,825,725
Current liabilities:
Accounts payable (including accounts payable of consolidated variable interest entities ("VIEs") without recourse to the Company of $219,130 and $44,867 as of September 30, 2016 and December 31, 2015, respectively)	219,130	45,788
Deferred revenue of VIEs	4,466	15,080
Accrued expenses (including accrued expenses of VIEs without recourse to the Company of $225,819 and $280,038 as of September 30, 2016 and December 31, 2015, respectively)	966,295	1,196,066
Accrued salaries (including accrued salaries of VIEs without recourse to the Company of nil and $10,861 as of September 30, 2016 and December 31, 2015, respectively)	940,059	1,058,124
Other current liabilities (including other current liabilities of VIEs without recourse to the Company of $438,042 and $298,422 as of September 30, 2016 and December 31, 2015, respectively)	643,753	312,170
Accrued license content fees of VIEs	1,018,921	933,532
Convertible promissory notes	3,000,000	3,000,000
Warrant liabilities	193,391	395,217
Deposit payable		2,994,364
Total current liabilities	6,986,015	9,950,341
Deferred income taxes	304,288	330,124
Total liabilities	7,290,303	10,280,465
Commitments and contingencies
Convertible redeemable preferred stock: Series A - 7,000,000 shares issued and outstanding, liquidation and deemed liquidation preference of $3,500,000 as of September 30, 2016 and December 31, 2015, respectively	1,261,995	1,261,995
Equity:
Common stock - $0.001 par value; 1,500,000,000 shares authorized, 42,715,658 and 24,249,109 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	42,716	24,249
Additional paid-in capital	133,299,521	97,512,542
Accumulated deficit	(92,229,603)	(86,457,840)
Accumulated other comprehensive loss	(705,643)	(414,910)
Total Wecast Network shareholders' equity	40,414,146	10,671,296
Non-controlling interest	(2,628,381)	(2,388,031)
Total equity	37,785,765	8,283,265
Total liabilities, convertible redeemable preferred stock and equity	46,338,063	19,825,725
Series E Preferred Stock
Equity:
Series E Preferred Stock - $0.001 par value; 16,500,000 shares authorized, 7,154,997 and 7,254,997 shares issued and outstanding, liquidation preference of $12,521,245 and $12,696,245 as of September 30, 2016 and December 31, 2015, respectively	$ 7,155	$ 7,255

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.