SPI Energy Co., Ltd. Unaudited Condensed Consolidated Balance Sheet as of June 30, 2021 and Unaudited Condensed Consolidated Statements of Operations for the six-month period ended June 30, 2021 - Form 6-K/A

SPI ENERGY CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for share and per share data)

		June 30, 2021			December 31, 2020
ASSETS
Current assets:
Cash and cash equivalents		$	22,846			$	38,882
Restricted cash			2,238				900
Accounts receivable, net			26,903				17,061
Contract assets			2,398				-
Inventories, net			23,196				17,260
Prepaid expenses and other current assets, net			11,409				5,018
Amount due from related parties			229				194
Total current assets			89,219				79,315
Intangible assets, net			6,725				4,058
Goodwill			4,897				4,546
Other receivable, noncurrent			278				299
Property, plant and equipment, net			34,790				32,802
Project assets, noncurrent, net			23,616				19,740
Investment in affiliates, net			69,606				69,606
Deferred tax assets, net			257				82
Operating lease right-of-use assets			8,800				6,585
Total assets		$	238,188			$	217,033
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable		$	22,255			$	14,952
Accrued liabilities			7,254				8,490
Income taxes payable			381				31
Advance from customers			4,113				1,377
Short-term borrowings and current portion of long-term borrowings			12,353				3,266
Amount due to an affiliate			10,297				9,756
Convertible bonds, net of unamortized debt discount			44,271				50,373
Operating lease liabilities, current			579				605
Derivative liability			314				67
Accrued warranty reserve			579				529
Consideration payable			61,984				62,114
Total current liabilities			164,380				151,560
Long-term borrowings, excluding current portion			10,670				6,355
Amount due to an affiliate, noncurrent			371				832
Deferred tax liabilities, net			3,628				3,966
Operating lease liabilities, noncurrent			8,303				5,934
Total liabilities			187,352				168,647
Equity (deficit):
Ordinary shares, par $0.0001, 500,000,000 shares authorized, 24,066,223 and 22,340,689 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively			2				2
Additional paid in capital			687,404				670,101
Accumulated other comprehensive loss			(32,980	)			(32,947	)
Accumulated deficit			(606,808	)			(591,899	)
Total equity (deficit) attributable to shareholders of SPI Energy Co., Ltd.			47,618				45,257
Noncontrolling interests			3,218				3,129
Total equity			50,836				48,386
Total liabilities and equity		$	238,188			$	217,033

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SPI ENERGY CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for share and per share data)

		For the Six Months Ended June 30,
		2021			2020
Net sales		$	79,440			$	56,364
Cost of revenue			72,073				53,221
Gross profit			7,367				3,143
Operating (income) expenses:
General and administrative			17,269				2,825
Sales, marketing and customer service			2,246				634
Reversal of impairment charge on project assets			-				(3,751	)
Provision for doubtful accounts			319				-
Total operating (income) expenses			19,834				(292	)
Operating income (loss)			(12,467	)			3,435
Other expense :
Interest expense, net			2,702				2,053
Change in fair value of derivative liability			-				(498	)
Net foreign exchange gain			(710	)			(1,056	)
Others			(752	)			(199	)
Total other expense, net			1,240				300
Income (loss) before income taxes			(13,707	)			3,135
Income tax expense			860				390
Net income (loss) including noncontrolling interests		$	(14,567	)		$	2,745
Less: Net income attributable to noncontrolling interests			342				83
Net income (loss) attributable to shareholders of SPI Energy Co., Ltd.		$	(14,909	)		$	2,662
Net income (loss) per ordinary share:
Basic and Diluted		$	(0.64	)		$	0.18
Weighted average shares outstanding
Basic and Diluted			23,434,015				14,805,098

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