$GSMG #NASDAQ
Nasdaq Company Beats the Street with Adjusted Revenue Growth Higher than previously reported. Glory Star New Media (Stock Symbol: GSMG)
Glory Star New Media Group Holdings Limited (OTCMKTS:GSMG)
We concluded the full year of 2020 with strong operating and financial performances as a result of our business resiliency and visionary growth strategies” Mr. Bing Zhang, Founder and Chief Executive Officer of Glory Star
BEIJING, CHAOYANG, CHINA, June 3, 2021 /EINPresswire.com/ Nasdaq Company Beats the Street with Adjusted Revenue Growth Higher than previously reported. Glory Star New Media (Stock Symbol: GSMG)
GSMG reports .91 Earnings per share up from .64 last year
Glory Star Restates its 2020 Financial Results
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BEIJING, June 2, 2021 /PRNewswire/ Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) ( Glory Star or the Company ), a leading digital media platform and content-driven e-commerce company in China, today announced that in response to a statement released by the U.S. Securities and Exchange Commission dated April 12th, 2021, the Company has restated its previously issued consolidated financial statements for the year ended December 31, 2020 to reflect the change in accounting treatment of the private placement warrants issued by the Company (the Restatement ).
The impact of the Restatement was an increase in net income of $19.7 million for the year ended December 31, 2020, an increase in total liabilities of $833,000 and a corresponding decrease in total equity of $833,000 as of December 31, 2020. As a result, the Company s net income increased to $49.0 million fr