NEW YORK, Aug. 27, 2018 /PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC) ("SSC" or the "Company"), a leading global fintech and asset digitization services company focused on digital asset production and distribution, today issued a statement to clarify recent news that was reported regarding a Company filing.
Contrary to earlier news this morning, SSC is not issuing any new financing at this time, and the S1A that was filed on Friday, August 24, 2018 is purely an Amendment to the S1 previously filed on April 20, 2018.
The S1A is not indicative of the Company issuing new shares in a financing, which would be dilutive. This is simply a registration for currently outstanding shares, per the prior S1 on April 20, 2018.
Further, as previously disclosed over the past few months, SSC's management team feels that the Company is well capitalized to continue to execute and deliver on its strategy.
About Seven Stars Cloud Group, Inc. (http://www.sevenstarscloud.com/)
SSC is determined to become one of the most prominent global digital asset companies. Relying on its core base of fintech and digital asset production and services-based ecosystem enablement, SSC is committed to delivering the best digital assets via the best underlying technology. This approach will drive capital formation and sales across our digital asset ecosystems.
SSC customizes its technology platform for various business use cases, operates the Platform-as-a-Service (PaaS), and partners with businesses that deliver core digital asset product creation. We are focused on delivering a global multi-layer technology infrastructure ecosystem that issues, trades, and settles digital asset transactions. We will leverage direct sales channels and automated sales systems via digital asset exchange platforms which is inclusive of decentralized exchanges to realize digital asset distribution, social media, traditional regulated broker dealer network as well as institutions as direct clients.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Seven Stars Cloud
Eric Soderberg, Forefront Communications
Federico Tovar, CFO Seven Stars Cloud
Chad Arroyo, CMO Seven Stars Cloud
SOURCE Seven Stars Cloud Group, Inc.