Business
Golden Bull Limited Reports Unaudited Twelve Months Ended December 31, 2019 Financial Results
BEIJING, March 24, 2020 /PRNewswire/ -- Golden Bull Limited (NASDAQ: DNJR) ("Golden Bull" or the "Company"), formerly an online finance marketplace, or
About this update from Bit Digital, Inc.
[{"type":"text","content":"BEIJING, March 24, 2020 /PRNewswire/ -- Golden Bull Limited (NASDAQ: DNJR) (\"Golden Bull\" or the \"Company\"), formerly an online finance marketplace, or \"peer-to-peer\" (\"P2P\") lending company in China that provided borrowers access to short-term loans today announced its unaudited financial results for the twelve months ended December 31, 2019. The filing date for audited financial statements is April 30, 2020 unless extended for the effects of coronavirus. As previously announced, the Company shut down its peer-to-peer lending business and is commencing operations in the auto rental business and bitcoin mining business. \nIn order to remain in compliance with NASDAQ's Minimum Bid Price requirement, the Company will effect a reverse stock split if necessary. \nTwelve Months Ended December 31, 2019 Financial Highlights (all comparable to the prior year period):\nTotal revenues for the twelve months ended December 31, 2019 decreased by 41.8% to approximately $4.6 million from approximately $7.9 million for the twelve months ended December 31, 2018. Net loss for the twelve months ended December 31, 2019 increased by 97.1% to approximately $6.9 million from approximately $3.5 million for twelve months ended December 31, 2018. \n \n \nGOLDEN BULL LIMITED AND SUBSIDIARIES\nCONSOLIDATED BALANCE SHEETS\n(UNAUDITED)\nDecember 31,\nDecember 31,\n2019\n2018\nUSD\nUSD\nCURRENT ASSETS\n Cash and cash equivalents\n34,485\n2,334,425\n Other receivables\n1,893,080\n142,255\n Prepaid costs and expenses\n3,187,052\n Total current assets\n1,927,565\n5,663,732\nPROPERTY AND EQUIPMENT, NET\n683,626\n723,777\nOTHER ASSETS \n Restricted cash\n600,000\n600,000\n Deposits for rental vehicles\n3,246,277\n2,482,592\n Deposits for property and equipment\n110,000\n Prepaid expenses\n-\n2,200,506\n Deferred tax assets\n-\n810,863\n Total other assets\n3,956,277\n6,093,961\nTotal assets\n6,567,468\n12,481,470\nCURRENT LIABILITIES\nOther payables and accrued liabilities\n1,622,755\n355,434\nTaxes payable\n(233,447)\n47,785\nDecember 31,\nDecember 31,\n2019\n2018\nUSD\nUSD\nTotal current liabilities\n1,389,308\n403,219\nNON CURRENT LIABILITIES\n Long term payable\n120,000\nTotal Non current liabilities\n120,000\nTotal liabilities\n1,509,308\n403,219\nCOMMITMENTS AND CONTINGENCIES\nSHAREHOLDERS' EQUITY\n Common shares, $0.01 par value, 50,000,000 shares a...