6-K - AIOS - Equibles

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16Under

the Securities Exchange Act of 1934

For the six months ended June 30, 2020

Commission File Number: 001-37829

NISUN INTERNATIONAL ENTERPRISE

DEVELOPMENT GROUP CO., LTD

(Registrant’s name)

C9, 99 Danba Rd

Putuo District, Shanghai

People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.:

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K on paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Explanatory Note:

The Registrant is furnishing this Report on Form 6-K to provide the six-month interim financial statements for the period ended June 30, 2020 and incorporate such financial statements into the Company’s registration statements referenced below.

This Form 6-K is hereby incorporated by reference into the registration statements of the Registrant on Form S-8 (Registration Number 333-236843) and Form F-3 (Registration Number 333-222995) and into each prospectus outstanding under the foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

Financial Statements and Exhibits.

The following exhibit is attached.

Exhibit	Description
99.1	Unaudited Condensed Consolidated Financial Statements for the Six Months Ended June 30, 2020

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Nisun International Enterprise Development Group Co., Ltd
Date: December 31, 2020	By:	/s/ Xiaoyun Huang
	Name:	Xiaoyun Huang
	Title:	Chief Executive Officer<br><br> <br>(Principal Executive Officer) and Duly Authorized<br> Officer

Exhibit 99.1

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENTGROUP CO., LTD AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

As OF JUNE 30, 2020 AND DECEMBER 31,2019

(EXPRESSED INUS DOLLARS)

			December 31, <br> 2019*

ASSETS
CURRENT ASSETS
Cash and cash equivalents	15,916,743		$	2,756,490
Restricted cash	5,773			25,016
Accounts receivable, net	5,163,159			1,233,038
Interest receivable	103,785			-
Prepayments and advances to suppliers, net	1,371,230			171,027
Other receivables, net	4,061,751			101,111
Loan to third parties - current portion	6,239,266			2,434,715
Due from Hebron HK	9,199,014			9,201,432
Short-term investment	1,427,085			-
Prepaid expenses and other current assets	60,497			8,064
Assets to be divested - current	29,593,848			36,985,779
TOTAL CURRENT ASSETS	73,142,151			52,916,672
NON-CURRENT ASSETS
Property and equipment, net	652,075			287,057
Intangible assets, net	3,863,269			4,189,350
Operating lease right-of-use assets, net	1,673,007			502,670
Loans to third parties - long-term portion	3,113,898			2,872,820
Equity investments	493,394			500,715
Goodwill	23,283,990			11,074,864
Deferred tax assets, net	19,748			20,040
Assets to be divested – non-current	18,600,560			21,636,501
TOTAL NON-CURRENT ASSETS	51,699,941			41,084,017
TOTAL ASSETS	124,842,092		$	94,000,689
LIABILITIES
CURRENT LIABILITIES
Accounts payable	566,832		$	224,045
Accrued expenses and other current liabilities	2,987,286			674,169
Operating lease liabilities - current	853,237			138,133
Advances from customer	824,071			28,728
Taxes payable	1,532,435			138,157
Due to related parties - current	997,819			7,759,443
Consideration for acquisition	25,477,346			-
Liabilities to be divested - current	28,826,594			28,472,022
TOTAL CURRENT LIABILITIES	62,065,620			37,434,697
Operating lease liabilities – non-current	826,319			368,019
Deferred tax liabilities	709,190			805,826
Liabilities to be divested – non-current	1,355,689			1,456,634
TOTAL LIABILITIES	64,956,818			40,065,176
SHAREHOLDERS’ EQUITY:
Class A common stock, 0.001 par value, 40,000,000 and 40,000,000 shares authorized, 18,992,403 and 17,710,471 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively.	18,992			17,710
Additional paid-in capital	41,143,042			28,369,076
Retained earnings	21,326,570			27,472,766
Accumulated other comprehensive loss	(2,593,523	)		(1,914,232	)
COMMON SHAREHOLDERS’ EQUITY	59,895,081			53,945,320
Non-controlling interests	(9,807	)		(9,807	)
TOTAL SHAREHOLDERS’ EQUITY	59,885,274			53,935,513
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	124,842,092		$	94,000,689

All values are in US Dollars.

*The amounts have been reclassified to conform with the Company’s decision to classify Hebron HK as assets and liabilities to be divested.

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENTGROUP CO., LTD AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OFOPERATIONS AND COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED JUNE 30, 2020AND 2019

(EXPRESSED IN US DOLLARS)

(Unaudited)

	For the Six Months Ended<br> June 30,
	2020			2019
REVENUE
SME financing solutions	$	13,259,133		$	-
Supply chain solutions		193,783			-
Other financing solutions		21,120			-
TOTAL REVENUE		13,474,036			-
COST OF REVENUE AND RELATED TAX
Cost of revenue		(5,266,144	)		-
Business and sales related tax		(68,391	)		-
GROSS PROFIT		8,139,501			-
OPERATING EXPENSES
Selling expenses		450,426			15,281
General and administrative expenses		3,357,386			336,387
Research and development expenses		59,496			-
Total operating expenses		3,867,308			351,668
INCOME (LOSS) FROM OPERATIONS		4,272,193			(351,668	)
OTHER INCOME (EXPENSE)
Interest and investment income		180,513			-
Other income (expense), net		2,941			(657	)
Total other income (expense), net		183,454			(657	)
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES		4,455,647			(352,325	)
PROVISION FOR INCOME TAXES		307,354			-
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	$	4,148,293		$	(352,325	)
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAX		(10,294,489	)		(325,026	)
NET INCOME(LOSS)	$	(6,146,196	)	$	(677,351	)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment		(679,291	)		53,784
TOTAL COMPREHENSIVE (LOSS)	$	(6,825,487	)	$	(623,567	)
Basic and diluted income (loss) per common share
Income per share from continuing operations	$	0.23		$	(0.02	)
Loss per share from discontinued operations		(0.57	)		(0.02	)
Total	$	(0.34	)	$	(0.04	)
Weighted average number of shares outstanding
Basic and diluted		18,167,603			16,269,577

NISUN INTERNATIONAL ENTERPRISE DEVELOPMENTGROUP CO., LTD AND UBSIDIARIES

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE SIX MOTHS ENDED JUNE 30, 2020AND 2019

(EXPRESSED IN US DOLLARS)

(Unaudited)

	For the Six Months Ended<br> June 30,
	2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(6,146,196	)	$	(677,351	)
Net loss from discontinued operations		(10,294,489	)		(325,026	)
Net income (loss) from continued operations		4,148,293			(352,325	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization		622,812			-
Stock-based compensation		860,457			-
Loss (income) from investments		(114,930	)		-
Deferred tax expense (benefit)		(85,246	)		-
Changes in operating assets and liabilities:
Accounts receivable		(40,711	)		-
Prepaid expenses and other current assets		(3,742,853	)		-
Accounts payable		347,340			-
Advance from customers		797,100			-
Taxes payable		231,784			-
Operating lease liabilities		(141,625	)		-
Accrued expenses and other current liabilities		(511,492	)		-
Net Cash Provided by (Used in) Operating Activities from Continuing Operations		2,370,929			(352,325	)
Net Cash (Used in) Operating Activities from Discontinued Operations		(510,306	)		(209,040	)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		1,860,623			(561,365	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of property and equipment		(25,768	)		-
Purchase of intangible asset		(22,713	)		-
Acquisition of cash in connection with acquisition of Nami		5,062,170			-
Repayments from loans to third parties		1,706,351			-
Payments made for loans to third parties		(284,392	)		-
Net cash provided from investing activities from continuing operations		6,435,648			-
Net cash (used in) investing activities from discontinued operations		-			(12,429	)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		6,435,648			(12,429	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment made to related party		(6,678,943	)		-
Proceeds from private placement		6,503,378			-
Capital contribution by majority shareholder		4,550,000			-
Net cash provided from investing activities from continuing operations		4,374,435
Net cash (used in) investing activities from discontinued operations		-			(404,751	)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		4,374,435			(404,751	)
EFFECT OF EXCHANGE RATE CHANGE ON CASH AND CASH EQUIVALENTS		(40,002	)		27
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		12,630,704			(978,518	)
Cash and cash equivalent and restricted cash from continuing operations - Beginning		2,781,506			631
Cash and cash equivalent and restricted cash from discontinued operations - Beginning		696,157			3,071,612
CASH AND CASH EQUIVALENT AND RESTRICTED CASH-BEGINNING		3,477,663			3,072,243
Cash and cash equivalent and restricted cash from continuing operations - Ending		15,922,516			93
Cash and cash equivalent and restricted cash from discontinued operations - Ending		185,851			2,093,632
CASH AND CASH EQUIVALENT AND RESTRICTED CASH-ENDING	$	16,108,367		$	2,093,725
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for income taxes	$	13,972		$	-
Cash paid for interest	$	-		$	-
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Financing for acquisition of Nami	$	25,477,346		$	-
Accrued lease liabilities	$	1,679,556			-
CASH AND CASH EQUIVALENTS FROM CONTINUING OPERATION ARE COMPRISED OF THE FOLLOWING:
Cash and cash equivalent	$	15,916,743		$	93
Restricted cash		5,773			-
Total cash, cash equivalents and restricted cash	$	15,922,516		$	93