Takung Art Co Ltd (TKAT)

[ALERTS100%to10000%GAIN]

Net loss
We recorded a net loss of $7,225,831 and $14,769 for the three months ended June 30, 2021 and 2020, respectively.


The increase in the net loss by $7,211,062 during this current period compared
to the same period in 2020 was predominantly due to a significant increase in
total general and administrative expenses as discussed aforementioned.

SIX MONTHS ENDED JUNE 30, 2021 COMPARED TO SIX MONTHS ENDED JUNE 30, 2020


The following tables set forth our condensed consolidated statements of income
data:


Six Months Ended
June 30,
% of % of
2021 Revenue 2020 Revenue
(Unaudited) (Unaudited)
Revenue $ 1,922,603 100 $ 2,860,451 100
Cost of revenue (704,702) (37) (1,410,576) (49)
Selling expense (236,469) (12) (104,574) (4)
General and administrative expenses (8,965,472) (466)
(2,040,175) (71)
Total costs and expenses (9,906,643) (515) (3,555,325) (124)
Loss from operations (7,984,040) (415) (694,874) (24)
Interest and other expenses, net 192,214 10 (178,401) (6)
Loss before income taxes (7,791,826) (405)
(873,275) (30)
Income tax expense 6,593 0 94,856 3
Net loss $ (7,798,419) (405) $ (968,131) (33)