EX-99.2 3 ea169616ex99-2_saitech.htm UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30, 2022

Exhibit 99.2

 

SAI.TECH GLOBAL CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for number of shares and per share data) 

 

   As of
December 31,
2021		   As of
June 30,
2022		 
   (US$)   (US$) 
   (Unaudited)   (Unaudited) 
Assets        
Current assets:        
Cash and cash equivalents   22,984    16,500 
Accounts receivable   1,174    680 
Amount due from related parties   —    61 
Inventories   198    159 
Cryptocurrencies   83    54 
Deposits, prepayments and other current assets, net   1,022    5,253 
Total current assets   25,461    22,707 
           
Property and equipment, net   4,345    3,184 
Intangible assets, net   265    174 
Operating lease right-of-use assets   43    407 
Total assets   30,114    26,472 
           
Liabilities and equity          
Current liabilities:          
Accounts payable   2,720    149 
Operating lease liabilities-current   17    152 
Advance from customers   62    59 
Accrued and other liabilities   25    123 
Income tax payable   1    1 
Amount due to related parties   160    28 
Total current liabilities   2,985    512 
Operating lease liabilities-non-current   27    255 
Total Liabilities   3,012    767 
           
Commitments and contingencies - Note 12          
           
Shareholders’ equity:          
*Class A Ordinary shares ($0.0001 par value; authorized 330,369,366 shares; issued and outstanding 12,933,653 shares as of December 31, 2021 and June 30,2022)   1    1 
*Class B Ordinary shares ($0.0001 par value; authorized 9,630,634 shares; issued and outstanding 9,630,634 shares as of December 31, 2021 and June 30,2022)   1    1 
Additional paid-in capital   42,365    46,579 
Accumulated deficit   (15,348)   (20,794)
Accumulated other comprehensive income/(loss)   83    (82)
Total shareholders’ equity   27,102    25,705 
Total Liabilities and shareholders’ equity   30,114    26,472 

 

* The shares and per share data are presented on a retroactive basis to reflect the reorganization.

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

 

 

 

 

SAI.TECH GLOBAL CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME

(In thousands, except for number of shares and per share data)

 

   For the
Six Months Ended
June 30,		 
   2021   2022 
   (US$)   (US$) 
   (Unaudited)   (Unaudited) 
Revenues   7,990    5,376 
Cost of revenues   6,849    4,774 
Gross Profit   1,141    602 
           
Sales and marketing expenses   122    238 
General and administrative expenses   910    2,574 
Research and development expenses   230    129 
Impairment of long-lived assets   53    70 
Total operating expenses   1,315    3,011 
           
Loss from operations   (174)   (2,409)
Other income, net   32    (320)
Loss before income tax   (142)   (2,729)
Income tax expenses   (33)   - 
Net loss   (175)   (2,729)
           
Other comprehensive loss          
Foreign currency translation loss   (37)   (118)
Total comprehensive loss   (212)   (2,847)
           
Loss per ordinary share*          
Basic and diluted   (0.008)   (0.121)
           
Weighted average number of ordinary shares outstanding*:          
Basic & Diluted   22,564,287    22,564,287 

 

* The shares and per share data are presented on a retroactive basis to reflect the reorganization.

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements