Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 20, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | ChinaNet Online Holdings, Inc. | |
Entity Central Index Key | 0001376321 | |
Trading Symbol | cnet | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 16,412,543 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Current assets | |||
Cash and cash equivalents | $ 1,483 | $ 3,742 | |
Accounts receivable, net of allowance for doubtful accounts of $3,651 and $3,393, respectively | 6,830 | 6,359 | |
Prepayment and deposit to suppliers | 2,079 | 2,154 | |
Due from related parties, net | 207 | 226 | |
Other current assets, net | 9 | 19 | |
Total current assets | 10,608 | 12,500 | |
Long-term investments | 36 | ||
Property and equipment, net | 112 | 142 | |
Intangible assets, net | 41 | 45 | |
Operating lease right-of-use assets | 20 | ||
Blockchain application platform development costs | 3,731 | 3,725 | |
Deferred tax assets, net | 527 | 556 | |
Total Assets | 15,075 | 16,989 | |
Current liabilities | |||
Short-term bank loan * | [1] | 891 | 874 |
Accounts payable * | [1] | 1,165 | 2,869 |
Advances from customers * | [1] | 1,644 | 1,061 |
Accrued payroll and other accruals * | [1] | 411 | 521 |
Taxes payable * | [1] | 3,120 | 2,997 |
Other current liabilities * | 127 | 118 | |
Total current liabilities | 7,358 | 8,440 | |
Long-term liabilities: | |||
Long-term borrowing from a director | 130 | 128 | |
Warrant liabilities | 956 | 606 | |
Total Liabilities | 8,444 | 9,174 | |
Commitments and contingencies | |||
Equity: | |||
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 16,412,543 shares and 16,382,543 shares at March 31, 2019 and December 31, 2018, respectively) | 16 | 16 | |
Additional paid-in capital | 38,288 | 38,275 | |
Statutory reserves | 2,607 | 2,607 | |
Accumulated deficit | (35,650) | (34,512) | |
Accumulated other comprehensive income | 1,422 | 1,457 | |
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity | 6,683 | 7,843 | |
Noncontrolling interests | (52) | (49) | |
Total equity | 6,631 | 7,794 | |
Total Liabilities and Equity | $ 15,075 | $ 16,968 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2019 | Dec. 31, 2018 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 16,412,543 | 16,382,543 |
Common stock, shares outstanding (in shares) | 16,412,543 | 16,382,543 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues | ||
Revenues | $ 8,567,000 | $ 8,260,000 |
Cost of revenues | 8,125,000 | 7,659,000 |
Gross profit | 442,000 | 601,000 |
Operating expenses | ||
Sales and marketing expenses | 169,000 | 564,000 |
General and administrative expenses | 810,000 | 1,364,000 |
Research and development expenses | 201,000 | 218,000 |
Total operating expenses | 1,180,000 | 2,146,000 |
Loss from operations | (738,000) | (1,545,000) |
Other income/(expenses) | ||
Impairment on long-term investments | (471,000) | |
Interest expense, net | (11,000) | (10,000) |
Other expenses | (2,000) | (22,000) |
Change in fair value of warrant liabilities | (350,000) | 1,474,000 |
Total other (expenses)/income | (363,000) | 971,000 |
Loss before income tax (expense)/benefit and noncontrolling interests | (1,101,000) | (574,000) |
Income tax (expense)/benefit | (39,000) | 4,000 |
Net loss | (1,140,000) | (570,000) |
Net loss attributable to noncontrolling interests | 2,000 | 5,000 |
Net loss attributable to ChinaNet Online Holdings, Inc. | (1,138,000) | (565,000) |
Net loss | (1,140,000) | (570,000) |
Foreign currency translation adjustment | (36,000) | 474,000 |
Comprehensive loss | (1,176,000) | (96,000) |
Comprehensive loss/(income) attributable to noncontrolling interests | 3,000 | (3,000) |
Comprehensive loss attributable to ChinaNet Online Holdings, Inc. | $ (1,173,000) | $ (99,000) |
Loss per share | ||
Basic and diluted (in dollars per share) | $ (0.07) | $ (0.04) |
Weighted average number of common shares outstanding: | ||
Basic and diluted (in shares) | 16,410,543 | 15,484,082 |
Unrelated Parties [Member] | ||
Revenues | ||
Revenues | $ 8,560,000 | $ 8,260,000 |
Related Parties [Member] | ||
Revenues | ||
Revenues | $ 7,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities | ||
Net loss | $ (1,140,000) | $ (570,000) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation and amortization | 38,000 | 216,000 |
Amortization of operating lease right-of-use assets | 84,000 | |
Share-based compensation expenses | 101,000 | 75,000 |
Provision for allowances for doubtful accounts | 192,000 | 481,000 |
Impairment on long-term investments | 471,000 | |
Deferred taxes | 39,000 | (4,000) |
Change in fair value of warrant liabilities | 350,000 | (1,474,000) |
Changes in operating assets and liabilities | ||
Accounts receivable | (547,000) | 3,413,000 |
Prepayment and deposit to suppliers | 22,000 | (1,178,000) |
Due from related parties | 27,000 | 3,000 |
Other current assets | 10,000 | (47,000) |
Accounts payable | (1,833,000) | (2,105,000) |
Advances from customers | 562,000 | (1,668,000) |
Accrued payroll and other accruals | 114,000 | 147,000 |
Other current liabilities | (115,000) | (553,000) |
Taxes payable | 65,000 | (92,000) |
Prepaid lease payment | (11,000) | |
Net cash used in operating activities | (2,270,000) | (3,179,000) |
Cash flows from investing activities | ||
Payment for purchase of office equipment | (1,000) | |
Investment to an ownership investee company | (36,000) | |
Short-term loan to an unrelated party | (2,000,000) | |
Collection of short-term loan from an unrelated party | 2,672,000 | |
Payment for acquisition of noncontrolling interest | (1,179,000) | |
Payment for blockchain application platform development costs | (1,200,000) | |
Purchase of software technology | (448,000) | |
Net cash used in investing activities | (36,000) | (2,156,000) |
Cash flows from financing activities | ||
Proceeds from issuance of common stock and warrant (net of cash offering cost of US$809) | 10,263,000 | |
Repayment to investors related to terminated security purchase agreements | (493,000) | |
Proceeds from short-term bank loan | 445,000 | |
Repayment of short-term bank loan | (445,000) | |
Net cash provided by financing activities | 9,770,000 | |
Effect of exchange rate fluctuation on cash and cash equivalents | 47,000 | 116,000 |
Net /(decrease)/increase in cash, cash equivalents, and restricted cash | (2,259,000) | 4,551,000 |
Cash, cash equivalents, and restricted cash at beginning of the period | 3,742,000 | 2,952,000 |
Cash, cash equivalents, and restricted cash at end of the period | 1,483,000 | 7,503,000 |
Supplemental disclosure of cash flow information | ||
Income taxes paid | ||
Interest expense paid | $ 13,000 | $ 127,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Issuance of common stock, cost | $ 809 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Statutory Reserves [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member]AOCI Attributable to Parent [Member] | Private Placement [Member]Noncontrolling Interest [Member] | Private Placement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Statutory Reserves [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance, January 1, 2019 (in shares) at Dec. 31, 2017 | 13,982,542 | |||||||||||||
Balance, January 1, 2019 at Dec. 31, 2017 | $ 14 | $ 31,554 | $ 2,607 | $ (20,487) | $ 1,598 | $ 177 | $ 15,463 | |||||||
Share-based compensation | 75 | 75 | ||||||||||||
Net loss | (565) | (5) | (570) | |||||||||||
Foreign currency translation adjustment | 466 | 8 | 474 | |||||||||||
Balance (in shares) at Mar. 31, 2018 | 16,132,543 | |||||||||||||
Balance at Mar. 31, 2018 | $ 16 | 39,615 | 2,607 | (21,052) | 2,064 | 180 | 23,430 | |||||||
Issuance of common stock for private placement, net of $1.89 million proceeds allocated to investor warrants labilities and $1.20 million direct offering costs (including $0.39 million proceeds allocated to placement agent warrants liabilities), respectively (in shares) | 2,150,001 | |||||||||||||
Issuance of common stock for private placement, net of $1.89 million proceeds allocated to investor warrants labilities and $1.20 million direct offering costs (including $0.39 million proceeds allocated to placement agent warrants liabilities), respectively | $ 2 | $ 7,986 | $ 7,988 | |||||||||||
Balance, January 1, 2019 (in shares) at Dec. 31, 2018 | 16,382,543 | |||||||||||||
Balance, January 1, 2019 at Dec. 31, 2018 | $ 16 | 38,275 | 2,607 | (34,512) | 1,457 | (49) | 7,794 | |||||||
Share-based compensation (in shares) | 30,000 | |||||||||||||
Share-based compensation | 13 | 13 | ||||||||||||
Net loss | (1,138) | (2) | (1,140) | |||||||||||
Foreign currency translation adjustment | (35) | (1) | (36) | |||||||||||
Balance (in shares) at Mar. 31, 2019 | 16,412,543 | |||||||||||||
Balance at Mar. 31, 2019 | $ 16 | $ 38,288 | $ 2,607 | $ (35,650) | $ 1,422 | $ (52) | $ 6,631 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Equity (Parentheticals) | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Private Placement [Member] | Investor Warrants [Member] | |
Proceeds allocated to warrant liabilities | $ 1,890,000 |
Private Placement [Member] | Placement Agent Warrants [Member] | |
Proceeds allocated to warrant liabilities | 390,000 |
Private Placement [Member] | |
Direct offering costs | 1,200,000 |
Investor Warrants [Member] | |
Proceeds allocated to warrant liabilities | 664,000 |
Placement Agent Warrants [Member] | |
Proceeds allocated to warrant liabilities | 137,000 |
Proceeds allocated to warrant liabilities | $ 801,000 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Operations | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization and nature of operations ChinaNet Online Holdings, Inc. (the “Company”) was incorporated in the State of Texas in April 2006 October 2006. June 26, 2009, 2018, March 31, 2019, 11 |
Note 2 - Variable Interest Enti
Note 2 - Variable Interest Entities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Variable Interest Entities Disclosure [Text Block] | 2. Variable interest entities Summarized below is the information related to the VIEs’ assets and liabilities reported in the Company’s condensed consolidated balance sheets as of March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 673 $ 2,328 Accounts receivable, net 6,830 6,359 Prepayment and deposit to suppliers 1,716 1,724 Due from related parties, net 7 26 Other current assets, net 4 11 Total current assets 9,230 10,448 Long-term investments 36 - Property and equipment, net 68 84 Intangible assets, net 38 42 Operating lease right-of-use assets 20 - Deferred tax assets, net 527 556 Total Assets $ 9,919 $ 11,130 Liabilities Current liabilities: Short-term bank loan $ 891 $ 874 Accounts payable 1,164 2,868 Advances from customers 1,642 1,059 Accrued payroll and other accruals 179 155 Taxes payable 2,677 2,562 Other current liabilities 65 55 Total current liabilities 6,618 7,573 Total Liabilities $ 6,618 $ 7,573 All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not 17 19. Summarized below is the information related to the financial performance of the VIEs reported in the Company’s condensed consolidated statements of operations and comprehensive loss for the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenues $ 8,567 $ 8,253 Cost of revenues (8,125 ) (7,659 ) Total operating expenses (711 ) (1,262 ) Net loss before allocation to noncontrolling interests (322 ) (678 ) |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. Summary of significant accounting policies a) Basis of presentation The unaudited condensed consolidated interim financial statements are prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The unaudited condensed consolidated interim financial information as of March 31, 2019 three March 31, 2019 2018 10 December 31, 2018, “2018 10 April 15, 2019. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the Company’s condensed consolidated financial position as of March 31, 2019, three March 31, 2019 2018, three March 31, 2019 2018, not b) Going concern The Company incurred operating losses and had negative operating cash flows and may three March 31, 2019 US$1.14 US$0.57 three March 31, 2018. March 31, 2019, US$1.48 three March 31, 2019 US$2.27 The Company does not twelve may may not not may one The unaudited condensed consolidated financial statements as of March 31, 2019 March 31, 2019 not may may c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: March 31, 2019 December 31, 2018 Balance sheet items, except for equity accounts 6.7335 6.8632 Three Months Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7468 6.3632 No f) Fair value measurement Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2019 December 31, 2018 Fair value measurement at reporting date using As of March 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 16) 956 - - 956 Fair value measurement at reporting date using As of December 31, 2018 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 16) 606 - - 606 g) Revenue recognition All of the Company’s revenues are generated from the PRC. The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition: Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and data service --distribution of the right to use search engine marketing service 6,725 6,443 --online advertising placements 1,831 1,597 --sales of effective sales lead information 6 122 TV advertising service - 91 Others 5 7 Total revenues 8,567 8,260 Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 8,561 8,138 Revenue recognized at a point in time 6 122 Total revenues 8,567 8,260 Contract costs For the three March 31, 2019 2018, not 606, Contract balances The table below summarized the movement of the Company’s contract liabilities for the three March 31, 2019: Advance from customers US$(’000) Balance as of January 1, 2019 1,061 Exchange translation adjustment 20 Revenue recognized from beginning contract liability balance (548 ) Advances received from customers related to unsatisfied performance obligations 1,111 Balance as of March 31, 2019 (Unaudited) 1,644 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi three March 31, 2019 2018. For the three March 31, 2019 2018, no Transaction price allocated to remaining performance obligation The Company has elected to apply the practical expedient in paragraph ASC Topic 606 10 50 14 not March 31, 2019, one h) Advertising expenses Advertising costs for the Company’s own brand building are expensed when incurred and are included in “sales and marketing expenses” in the statements of operations and comprehensive loss. For the three March 31, 2019 2018, US$389,000, i) Research and development expenses The Company accounts for expenses for the enhancement, maintenance and technical support to the Company’s Internet platforms and intellectual properties that are used in its daily operations in research and development expenses. Research and development costs are charged to expense when incurred. Expenses for research and development for the three March 31, 2019 2018 US$201,000 US$218,000, j) Lease On January 1, 2019, 842, No. 2018 11, 842 January 1, 2019) 842 January 1, 2019, 840 842 January 1, 2019. The Company leases two third one not 842. The Company’s lease contracts do not not 2 3 The Company’s lease contracts only contain fixed lease payments and do not The Company’s office lease contracts do not 842 10 25 3. 842 20 30 3, 6%, 1 5 As of March 31, 2019, US$20,000, US$10,000, For the three March 31, 2019, 842 US$0.09 three March 31, 2018, 840 US$0.10 Maturity of lease liabilities Operating leases US$(’000) (Unaudited) Nine months ending December 31, -2019 - Year ending December 31, -2020 11 Total undiscounted lease payments 11 Less: imputed interest (1 ) Operating lease liabilities as of March 31, 2019 10 Supplemental information related to operating leases (All amounts are presented in thousands of U.S. dollars): Operating cash flows used for operating leases 93 Right-of-use assets obtained in exchange for new lease liabilities 10 Weighted-average remaining lease term (years) 1.96 Weighted-average discount rate 6 % k) Impact of recently issued accounting pronouncements In June 2016, No. 2016 13, 326 November 2018, No. 2018 19, 326, not 326 20. 842, December 15, 2019, In August 2018, No. 2018 13, 820 3 December 15, 2019, not |
Note 4 - Accounts Receivable, N
Note 4 - Accounts Receivable, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Accounts Receivable Disclosure [Text Block] | 4. Accounts receivable, net March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Accounts receivable 10,481 9,752 Allowance for doubtful accounts (3,651 ) (3,393 ) Accounts receivable, net 6,830 6,359 All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of March 31, 2019 December 31, 2018 US$3.7 US$3.4 six six three March 31, 2019 2018, US$0.19 US$0.47 |
Note 5 - Prepayments and Deposi
Note 5 - Prepayments and Deposit to Suppliers | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Prepayments and Deposits to Suppliers Disclosure [Text Block] | 5. Prepayments and deposit to suppliers March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Deposits to internet resources providers 743 963 Prepayments to internet resources providers 936 727 Other deposits and prepayments 400 464 2,079 2,154 |
Note 6 - Due From Related Parti
Note 6 - Due From Related Parties, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Due from Related Parties Disclosure [Text Block] | 6. Due from related parties, net March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) An officer of the Company 200 200 Guohua Shiji (Beijing) Communication Co., Ltd. 178 201 Zhong Wang Xi Yue Technology (Beijing) Co., Ltd. 7 - 385 401 Allowance for doubtful accounts (178 ) (175 ) Due from related parties, net 207 226 Related Due from an officer of the Company as of March 31, 2019 December 31, 2018 US$0.20 one third 2018 September 2017 March 31, 2019, no US$0.2 April 2019. As of March 31, 2019 December 31, 2018, December 31, 2018, RMB1.38 US$0.20 RMB0.18 US$0.03 first 2019, March 31, 2019 December 31, 2018, As of March 31, 2019, For the three March 31, 2018, US$0.01 |
Note 7 - Other Current Assets,
Note 7 - Other Current Assets, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 7. Other current assets, net March 31, 2019 December 31,2018 Gross Allowance for doubtful accounts Net Gross Allowance for doubtful accounts Net US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) (Unaudited) (Unaudited) Loan to an unrelated party 149 (149 ) - 146 (146 ) - Staff advances for business operations 9 - 9 19 - 19 Overdue deposits 1,650 (1,650 ) - 1,619 (1,619 ) - Total 1,808 (1,799 ) 9 1,784 (1,765 ) 19 As of March 31, 2019 December 31, 2018, RMB1.0 US$0.15 March 31, 2019 December 31, 2018, As of March 31, 2019 December 31, 2018, RMB11 US$1.6 no March 31, 2019 December 31, 2018, |
Note 8 - Long-term Investments
Note 8 - Long-term Investments | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 8. Long-term investments As of March 31, 2019, RMB0.25 US$0.04 one January 2019. October 2018, 4.9% March 31, 2019, X i’an was still in The Company measures this investment which do not As of March 31, 2019 December 31, 2018, |
Note 9 - Property and Equipment
Note 9 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property and equipment, net March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Leasehold improvement 327 321 Vehicles 785 771 Office equipment 1,379 1,353 Electronic devices 971 952 Property and equipment, cost 3,462 3,397 Less: accumulated depreciation (3,350 ) (3,255 ) Property and equipment, net 112 142 Depreciation expenses for the three March 31, 2019 2018 US$33,000 US$48,000, |
Note 10 - Intangible Assets, Ne
Note 10 - Intangible Assets, Net | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. Intangible assets, net As of March 31, 2019 (Unaudited) Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$(’000) US$(’000) US$(’000) US$(’000) Intangible assets not subject to amortization: Domain name 1,435 - (1,435 ) - Intangible assets subject to amortization: Customer relationship 1,979 (1,979 ) - - Non-compete agreements 1,089 (592 ) (497 ) - Software technologies 304 (304 ) - - Cloud compute software technology 1,378 (917 ) (423 ) 38 Intelligent marketing data service platform 4,795 (1,942 ) (2,853 ) - Internet safety, information exchange security and data encryption software 1,931 (435 ) (1,496 ) - Cloud video management system 1,411 (350 ) (1,061 ) - Other computer software 116 (113 ) - 3 Total $ 14,438 $ (6,632 ) $ (7,765 ) $ 41 As of December 31, 2018 Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$(’000) US$(’000) US$(’000) US$(’000) Intangible assets not subject to amortization: Domain name 1,408 - (1,408 ) - Intangible assets subject to amortization: Customer relationship 1,941 (1,941 ) - - Non-compete agreements 1,068 (580 ) (488 ) - Software technologies 299 (299 ) - - Cloud compute software technology 1,353 (896 ) (415 ) 42 Intelligent marketing data service platform 4,705 (1,906 ) (2,799 ) - Internet safety, information exchange security and data encryption software 1,894 (426 ) (1,468 ) - Cloud video management system 1,383 (343 ) (1,040 ) - Other computer software 114 (111 ) - 3 Total $ 14,165 $ (6,502 ) $ (7,618 ) $ 45 Amortization expenses for the three March 31, 2019 2018 US$5,000 US$168,000, Based on the adjusted carrying value of the finite-lived intangible assets after the deduction of the impairment losses, which has a weighted average remaining useful life of 2.23 March 31, 2019, no US$14,000 December 31, 2019, US$19,000 December 31, 2020 US$9,000 December 31, 2021. |
Note 11 - Blockchain Software A
Note 11 - Blockchain Software Application Platform Development Costs | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | 11. Blockchain software application platform development costs In February 2018, US$4.5 March 2018, RMB3.0 US$0.44 March 31, 2019, 350 40 US$3.73 two 2019, 2019. According to the development contracts the Company signed with the counter parties, the Company will not no not may |
Note 12 - Short-term Bank Loan
Note 12 - Short-term Bank Loan and Credit Facility | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 12. Short-term bank loan and credit facility As of March 31, 2019, RMB5.0 US$0.7 January 2020. March 31, 2019, RMB3.0 US$0.45 January 2020. As of March 31, 2019, RMB3.0 US$0.45 RMB1.5 US$0.22 July 2019 RMB1.5 US$0.22 September 2019. Collateral for the above discussed revolving credit facility and short-term bank loans included an unlimited guarantee from Mr. Handong Cheng (Chairman and Chief Executive Officer of the Company) and his spouse and an approximately US$0.03 September 21, 2019. Interest rate of the current outstanding short-term working capital loans was 5.655% 30% |
Note 13 - Accrued Payroll and O
Note 13 - Accrued Payroll and Other Accruals | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 13. Accrued payroll and other accruals March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Accrued payroll and staff welfare 238 208 Accrued operating expenses 173 313 411 521 |
Note 14 - Taxation
Note 14 - Taxation | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Taxation 1 Income tax The entities within the Company file separate tax returns in the respective tax jurisdictions in which they operate. i). The Company is incorporated in the state of Nevada. Under the current law of Nevada, the Company is not not January 1, 2018, 50 three March 31, 2019 2018, no no ii). China Net BVI and ChinaNet Investment BVI were incorporated in the British Virgin Islands (“BVI”). Under the current law of the BVI, these BVI companies are not no iii). China Net HK was incorporated in Hong Kong and does not April 1, 2018, two 8.25% first HK$2.0 16.5%. No no three March 31, 2019 no iv). The Company’s PRC operating subsidiaries and VIEs, being incorporated in the PRC, are governed by the income tax law of the PRC and is subject to PRC enterprise income tax (“EIT”). The EIT rate of PRC is 25%, • As approved by the related PRC governmental authorities, Business Opportunity Online continuously qualified as a High and New Technology Enterprise until November 2021, 15% November 2021. three March 31, 2019 2018, 15%. 2018 No. 45 January 1, 2018, 2018 five 2013 ten 5 • The applicable EIT rate for other PRC operating entities of the Company was 25% three March 31, 2019 2018. • The current EIT law also imposed a 10% 5% 2 Turnover taxes and the relevant surcharges Service revenues provided by the Company’s PRC operating subsidiaries and VIEs were subject to Value Added Tax (“VAT”). VAT rate for provision of modern services (other than lease of corporeal movables) is 6%, 3%. three March 31, 2019 2018, 6%, 3% 12% 14% As of March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) PRC turnover tax and surcharge payable 1,304 1,215 PRC enterprise income tax payable 1,816 1,782 Total taxes payable 3,120 2,997 For the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Current-PRC - - Deferred-PRC (39 ) 4 Income tax (expense)/benefit (39 ) 4 The Company’s deferred tax assets as of March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Tax effect of net operating losses carried forward 9,466 9,243 Bad debts provision 1,240 1,188 Valuation allowance (10,179 ) (9,875 ) Deferred tax assets, net 527 556 The U.S. holding company has incurred aggregate NOLs of approximately US$19.4 US$19.2 March 31, 2019 December 31, 2018, December 31, 2017 2037. December 31, 2017 no 80% December 31, 2017. not The NOLs carried forward incurred by the Company’s PRC subsidiaries and VIEs were approximately US$25.6 US$25.2 March 31, 2019 December 31, 2018, 2029 The Company recorded approximately US$10.2 US$9.9 March 31, 2019 December 31, 2018, not not For the three March 31, 2019 2018, US$0.2 US$0.4 three March 31, 2019, US$0.06 |
Note 15 - Long-term Borrowing F
Note 15 - Long-term Borrowing From a Director | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Long-Term Borrowing from Director Disclosure [Text Block] | 15. Long-term borrowing from a director Long-term borrowing from a director is a non-interest bearing loan from a director of the Company relating to the original paid-in capital contribution in the Company’s wholly-owned subsidiary Rise King WFOE, which is not one |
Note 16 - Warrant Liabilities
Note 16 - Warrant Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 16. Warrant liabilities On January 17, 2018, 2,150,001 $5.15 645,000 129,000 $6.60 The Company accounted for the warrants issuing in the Financing as derivative liabilities, as the strike price of the warrants is dominated in a currency (U.S. dollar) other than the functional currency of the Company (Renminbi or Yuan) and is not Fair value of the warrants The Company used Binomial model to determine the fair value of the Warrants based on the assumptions summarized as below: Investors warrants Placement agent warrants As of As of As of As of Stock price $ 1.34 $ 1.95 $ 1.34 $ 1.95 Years to maturity 1.55 1.30 2.05 1.80 Risk-free interest rate 2.50 % 2.27 % 2.50 % 2.27 % Dividend yield - - - - Expected volatility 199 % 216 % 176 % 187 % Exercise Price $ 6.60 $ 6.60 $ 6.60 $ 6.60 Fair value of the warrant $ 0.78 $ 1.23 $ 0.80 $ 1.26 Investors warrants Placement agent warrants As of As of As of As of Stock price $ 3.98 $ 1.67 $ 3.98 $ 1.67 Years to maturity 2.5 2.3 3.0 2.8 Risk-free interest rate 2.22 % 2.35 % 2.39 % 2.50 % Dividend yield - - - - Expected volatility 158 % 164 % 147 % 152 % Exercise Price $ 6.60 $ 6.60 $ 6.60 $ 6.60 Fair value of the warrant $ 2.93 $ 1.03 $ 2.99 $ 1.06 Changes in fair value of warrant liabilities Three Months Ended March 31, 2019 ( As of March 31, 2019 As of December 31, 2018 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 793 503 290 Placement agent warrants 163 103 60 Warrant liabilities 956 606 350 Three Months Ended March 31, 2018 ( As of March 31, 2018 As of January 17, 2018 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 664 1,890 (1,226 ) Placement agent warrants 137 385 (248 ) Warrant liabilities 801 2,275 (1,474 ) Warrants issued and outstanding as of March 31, 2019 three Warrant Outstanding Warrant Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2019 774,000 1.63 $ 6.60 774,000 1.63 $ 6.60 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2019 (Unaudited) 774,000 1.38 $ 6.60 774,000 1.38 $ 6.60 |
Note 17 - Restricted Net Assets
Note 17 - Restricted Net Assets | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 17. Restricted net assets As all of the Company’s operations are conducted through its PRC subsidiaries and VIEs, the Company’s ability to pay dividends is primarily dependent on receiving distributions of funds from its PRC subsidiaries and VIEs. Relevant PRC statutory laws and regulations permit payments of dividends by its PRC subsidiaries and VIEs only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations and after it has met the PRC requirements for appropriation to statutory reserves. Paid in capital of the PRC subsidiaries and VIEs included in the Company’s consolidated net assets are also non-distributable for dividend purposes. In accordance with the PRC regulations on Enterprises with Foreign Investment, a WFOE established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A WFOE is required to allocate at least 10% 50% not 10% 50% not As a result of these PRC laws and regulations, the Company’s PRC subsidiaries and VIEs are restricted in their ability to transfer a portion of their net assets to the Company. As of March 31, 2019 December 31, 2018, US$12.0 The current PRC Enterprise Income Tax (“EIT”) Law also imposed a 10% 5% The ability of the Company’s PRC subsidiaries and VIEs to make dividends and other payments to the Company may Foreign currency exchange regulation in China is primarily governed by the following rules: • Foreign Exchange Administration Rules ( 1996 August 2008, • Administration Rules of the Settlement, Sale and Payment of Foreign Exchange ( 1996 Currently, under the Administration Rules, Renminbi is freely convertible for current account items, including the distribution of dividends, interest payments, trade and service related foreign exchange transactions, but not may Although the current Exchange Rules allow the convertibility of Chinese Renminbi into foreign currency for current account items, conversion of Chinese Renminbi into foreign exchange for capital items, such as foreign direct investment, loans or securities, requires the approval of SAFE, which is under the authority of the People’s Bank of China. These approvals, however, do not not may |
Note 18 - Employee Defined Cont
Note 18 - Employee Defined Contribution Plan | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 18. Employee defined contribution plan Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as incurred. The Company has no US$93,000 US$88,000 three March 31, 2019 2018, |
Note 19 - Concentration of Risk
Note 19 - Concentration of Risk | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 19. Concentration of risk Credit risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. As of Mach 31, 2019, 56% 44% Risk arising from operations in foreign countries All of the Company’s operations are conducted within the PRC. The Company’s operations in the PRC are subject to various political, economic, and other risks and uncertainties inherent in the PRC. Among other risks, the Company’s operations in the PRC are subject to the risks of restrictions on transfer of funds, changing taxation policies, foreign exchange restrictions; and political conditions and governmental regulations. Currency convertibility risk Significant part of the Company’s businesses is transacted in RMB, which is not may Concentration of customers The following tables summarized the information about the Company’s concentration of customers for the three March 31, 2019 2018, Customer A Customer B Customer C Three Months Ended March 31, 2019 Revenues, customer concentration risk 17% - * Three Months Ended March 31, 2018 Revenues, customer concentration risk - 36% * As of March 31, 2019 Accounts receivable, customer concentration risk 72% - 11% As of December 31, 2018 Accounts receivable, customer concentration risk 74% - 12% * Less than 10%. Concentration of suppliers The following tables summarized the information about the Company’s concentration of suppliers for the three March 31, 2019 2018, Supplier A Supplier B Three Months Ended March 31, 2019 Cost of revenues, supplier concentration risk 89% * Three Months Ended March 31, 2018 Cost of revenues, supplier concentration risk 73% 21% * Less than 10%. |
Note 20 - Commitments and Conti
Note 20 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 20. Commitments and contingencies In 2018, two third two US$4.94 March 31, 2019, US$3.73 December 31, 2019. The Company is currently not not may |
Note 21 - Segment Reporting
Note 21 - Segment Reporting | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 21. Segment reporting The Company follows ASC Topic 280 Three Months Ended March 31, 2019 ( Internet Ad. service TV Ad. Blockchain technology Corporate Inter- segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 8,567 - - - - 8,567 Cost of revenues 8,125 - - - - 8,125 Total operating expenses 705 18 5 452 (1) - 1,180 Depreciation and amortization expense included in total operating expenses 23 - - 15 - 38 Operating loss (263 ) (18 ) (5 ) (452 ) - (738 ) Change in fair value of warrant liabilities - - - (350 ) - (350 ) Net loss (315 ) (19 ) (5 ) (801 ) - (1,140 ) Total assets-March 31, 2019 11,587 242 3,391 16,695 (16,840 ) 15,075 Total assets-December 31, 2018 12,756 207 3,396 17,155 (16,546 ) 16,989 ( 1 Including approximately US$101,000 Three Months Ended March 31, 2018 ( Internet Ad. and data service TV Ad. Blockchain technology Corporate Inter- segment and reconciling item Total US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) Revenues 8,169 91 - 371 (371 ) 8,260 Cost of revenues 7,621 38 - - - 7,659 Total operating expenses 1,622 22 - 873 (1) (371 ) 2,146 Depreciation and amortization expense included in total operating expenses 197 - - 19 - 216 Operating (loss)/income (1,074 ) 31 - (502 ) - (1,545 ) Impairment on long-term investments - - - (471 ) - (471 ) Change in fair value of warrant liabilities - - - 1,474 - 1,474 Net (loss)/income (1,073 ) 20 - 483 - (570 ) Expenditure for long-term assets 448 - 1,200 1 - 1,649 ( 1 Including approximately US$75,000 |
Note 22 - Loss Per Share
Note 22 - Loss Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 22. Loss per share Basic and diluted loss per share for each of the periods presented are calculated as follows (All amounts, except number of shares and per share data, are presented in thousands of U.S. dollars): Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) $ (1,138 ) $ (565 ) Weighted average number of common shares outstanding -Basic and diluted 16,410,543 15,484,082 Loss per share -Basic and diluted $ (0.07 ) $ (0.04 ) For the three March 31, 2019, not 774,000 835,216 For the three March 31, 2018, not 774,000 835,216 266,238 third 2018, |
Note 23 - Share-based Compensat
Note 23 - Share-based Compensation Expenses | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 23. Share-based compensation expenses In January 2019, 30,000 one December 31, 2019. US$1.77 three March 31, 2019, US$13,000. In December 2018, 250,000 one US$1.43 US$358,000 three March 31, 2019 US$88,000. Options issued and outstanding as of March 31, 2019 three Option Outstanding Option Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2019 835,216 2.04 $ 2.49 835,216 2.04 $ 2.49 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2019 (Unaudited) 835,216 1.79 $ 2.49 835,216 1.79 $ 2.49 The table below summarized share-based compensation expenses recorded for the three March 31, 2019 2018, Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Sales and marketing expenses - 13 General and administrative expenses 101 51 Research and development expenses - 11 Total 101 75 The aggregate unrecognized share-based compensation expenses as of March 31, 2019 December 31, 2018 US$0.29 US$0.34 March 31, 2019 December 31, 2019. |
Note 24 - Subsequent Event
Note 24 - Subsequent Event | 3 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 24. Subsequent event The Company has performed an evaluation of subsequent events through the date the financial statements were issued and has determined that there are no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | a) Basis of presentation The unaudited condensed consolidated interim financial statements are prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The unaudited condensed consolidated interim financial information as of March 31, 2019 three March 31, 2019 2018 10 December 31, 2018, “2018 10 April 15, 2019. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the Company’s condensed consolidated financial position as of March 31, 2019, three March 31, 2019 2018, three March 31, 2019 2018, not |
Going Concern [Policy Text Block] | b) Going concern The Company incurred operating losses and had negative operating cash flows and may three March 31, 2019 US$1.14 US$0.57 three March 31, 2018. March 31, 2019, US$1.48 three March 31, 2019 US$2.27 The Company does not twelve may may not not may one The unaudited condensed consolidated financial statements as of March 31, 2019 March 31, 2019 not may may |
Consolidation, Policy [Policy Text Block] | c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. |
Use of Estimates, Policy [Policy Text Block] | d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: March 31, 2019 December 31, 2018 Balance sheet items, except for equity accounts 6.7335 6.8632 Three Months Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7468 6.3632 No |
Fair Value Measurement, Policy [Policy Text Block] | f) Fair value measurement Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of March 31, 2019 December 31, 2018 Fair value measurement at reporting date using As of March 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 16) 956 - - 956 Fair value measurement at reporting date using As of December 31, 2018 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 16) 606 - - 606 |
Revenue from Contract with Customer [Policy Text Block] | g) Revenue recognition All of the Company’s revenues are generated from the PRC. The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition: Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and data service --distribution of the right to use search engine marketing service 6,725 6,443 --online advertising placements 1,831 1,597 --sales of effective sales lead information 6 122 TV advertising service - 91 Others 5 7 Total revenues 8,567 8,260 Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 8,561 8,138 Revenue recognized at a point in time 6 122 Total revenues 8,567 8,260 Contract costs For the three March 31, 2019 2018, not 606, Contract balances The table below summarized the movement of the Company’s contract liabilities for the three March 31, 2019: Advance from customers US$(’000) Balance as of January 1, 2019 1,061 Exchange translation adjustment 20 Revenue recognized from beginning contract liability balance (548 ) Advances received from customers related to unsatisfied performance obligations 1,111 Balance as of March 31, 2019 (Unaudited) 1,644 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi three March 31, 2019 2018. For the three March 31, 2019 2018, no Transaction price allocated to remaining performance obligation The Company has elected to apply the practical expedient in paragraph ASC Topic 606 10 50 14 not March 31, 2019, one |
Advertising Cost [Policy Text Block] | h) Advertising expenses Advertising costs for the Company’s own brand building are expensed when incurred and are included in “sales and marketing expenses” in the statements of operations and comprehensive loss. For the three March 31, 2019 2018, US$389,000, |
Research and Development Expense, Policy [Policy Text Block] | i) Research and development expenses The Company accounts for expenses for the enhancement, maintenance and technical support to the Company’s Internet platforms and intellectual properties that are used in its daily operations in research and development expenses. Research and development costs are charged to expense when incurred. Expenses for research and development for the three March 31, 2019 2018 US$201,000 US$218,000, |
Lessee, Leases [Policy Text Block] | j) Lease On January 1, 2019, 842, No. 2018 11, 842 January 1, 2019) 842 January 1, 2019, 840 842 January 1, 2019. The Company leases two third one not 842. The Company’s lease contracts do not not 2 3 The Company’s lease contracts only contain fixed lease payments and do not The Company’s office lease contracts do not 842 10 25 3. 842 20 30 3, 6%, 1 5 As of March 31, 2019, US$20,000, US$10,000, For the three March 31, 2019, 842 US$0.09 three March 31, 2018, 840 US$0.10 Maturity of lease liabilities Operating leases US$(’000) (Unaudited) Nine months ending December 31, -2019 - Year ending December 31, -2020 11 Total undiscounted lease payments 11 Less: imputed interest (1 ) Operating lease liabilities as of March 31, 2019 10 Supplemental information related to operating leases (All amounts are presented in thousands of U.S. dollars): Operating cash flows used for operating leases 93 Right-of-use assets obtained in exchange for new lease liabilities 10 Weighted-average remaining lease term (years) 1.96 Weighted-average discount rate 6 % |
New Accounting Pronouncements, Policy [Policy Text Block] | k) Impact of recently issued accounting pronouncements In June 2016, No. 2016 13, 326 November 2018, No. 2018 19, 326, not 326 20. 842, December 15, 2019, In August 2018, No. 2018 13, 820 3 December 15, 2019, not |
Note 2 - Variable Interest En_2
Note 2 - Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 673 $ 2,328 Accounts receivable, net 6,830 6,359 Prepayment and deposit to suppliers 1,716 1,724 Due from related parties, net 7 26 Other current assets, net 4 11 Total current assets 9,230 10,448 Long-term investments 36 - Property and equipment, net 68 84 Intangible assets, net 38 42 Operating lease right-of-use assets 20 - Deferred tax assets, net 527 556 Total Assets $ 9,919 $ 11,130 Liabilities Current liabilities: Short-term bank loan $ 891 $ 874 Accounts payable 1,164 2,868 Advances from customers 1,642 1,059 Accrued payroll and other accruals 179 155 Taxes payable 2,677 2,562 Other current liabilities 65 55 Total current liabilities 6,618 7,573 Total Liabilities $ 6,618 $ 7,573 |
Financial Performance of VIEs [Table Text Block] | Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenues $ 8,567 $ 8,253 Cost of revenues (8,125 ) (7,659 ) Total operating expenses (711 ) (1,262 ) Net loss before allocation to noncontrolling interests (322 ) (678 ) |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Foreign Currency Exchange Rates [Table Text Block] | March 31, 2019 December 31, 2018 Balance sheet items, except for equity accounts 6.7335 6.8632 Three Months Ended March 31, 2019 2018 Items in the statements of operations and comprehensive loss, and statements of cash flows 6.7468 6.3632 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair value measurement at reporting date using As of March 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 16) 956 - - 956 Fair value measurement at reporting date using As of December 31, 2018 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 16) 606 - - 606 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and data service --distribution of the right to use search engine marketing service 6,725 6,443 --online advertising placements 1,831 1,597 --sales of effective sales lead information 6 122 TV advertising service - 91 Others 5 7 Total revenues 8,567 8,260 Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 8,561 8,138 Revenue recognized at a point in time 6 122 Total revenues 8,567 8,260 |
Contract with Customer, Asset and Liability [Table Text Block] | Advance from customers US$(’000) Balance as of January 1, 2019 1,061 Exchange translation adjustment 20 Revenue recognized from beginning contract liability balance (548 ) Advances received from customers related to unsatisfied performance obligations 1,111 Balance as of March 31, 2019 (Unaudited) 1,644 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Operating leases US$(’000) (Unaudited) Nine months ending December 31, -2019 - Year ending December 31, -2020 11 Total undiscounted lease payments 11 Less: imputed interest (1 ) Operating lease liabilities as of March 31, 2019 10 |
Lease, Cost [Table Text Block] | Operating cash flows used for operating leases 93 Right-of-use assets obtained in exchange for new lease liabilities 10 Weighted-average remaining lease term (years) 1.96 Weighted-average discount rate 6 % |
Note 4 - Accounts Receivable,_2
Note 4 - Accounts Receivable, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accounts Receivable [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Accounts receivable 10,481 9,752 Allowance for doubtful accounts (3,651 ) (3,393 ) Accounts receivable, net 6,830 6,359 |
Note 5 - Prepayments and Depo_2
Note 5 - Prepayments and Deposit to Suppliers (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Prepayments and Deposit to Suppliers [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Deposits to internet resources providers 743 963 Prepayments to internet resources providers 936 727 Other deposits and prepayments 400 464 2,079 2,154 |
Note 6 - Due From Related Par_2
Note 6 - Due From Related Parties, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Due From Related Parties [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) An officer of the Company 200 200 Guohua Shiji (Beijing) Communication Co., Ltd. 178 201 Zhong Wang Xi Yue Technology (Beijing) Co., Ltd. 7 - 385 401 Allowance for doubtful accounts (178 ) (175 ) Due from related parties, net 207 226 |
Note 7 - Other Current Assets_2
Note 7 - Other Current Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Other Current Assets [Table Text Block] | March 31, 2019 December 31,2018 Gross Allowance for doubtful accounts Net Gross Allowance for doubtful accounts Net US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) (Unaudited) (Unaudited) Loan to an unrelated party 149 (149 ) - 146 (146 ) - Staff advances for business operations 9 - 9 19 - 19 Overdue deposits 1,650 (1,650 ) - 1,619 (1,619 ) - Total 1,808 (1,799 ) 9 1,784 (1,765 ) 19 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Property and Equipment [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Leasehold improvement 327 321 Vehicles 785 771 Office equipment 1,379 1,353 Electronic devices 971 952 Property and equipment, cost 3,462 3,397 Less: accumulated depreciation (3,350 ) (3,255 ) Property and equipment, net 112 142 |
Note 10 - Intangible Assets, _2
Note 10 - Intangible Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Finite and Indefinite-Lived Intangible Assets [Table Text Block] | <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of March 31, 2019 (Unaudited)</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,435</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,435</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,979</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,979</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,089</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(592</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(497</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Software technologies</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(304</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Cloud compute software technology</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,378</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(917</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Intelligent marketing data service platform</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,795</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,942</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,853</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 20pt; text-indent: -10pt">Internet safety, information exchange security and data encryption software</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,931</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,496</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Cloud video management system</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,411</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(350</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,061</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other computer software</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">116</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(113</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 1.6pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,438</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,632</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,765</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of December 31, 2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,408</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,408</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,941</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,941</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(580</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> " id="sjs-B4"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of March 31, 2019 (Unaudited)</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,435</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,435</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,979</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,979</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,089</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(592</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(497</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Software technologies</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(304</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Cloud compute software technology</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,378</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(917</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Intelligent marketing data service platform</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,795</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,942</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,853</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 20pt; text-indent: -10pt">Internet safety, information exchange security and data encryption software</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,931</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,496</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Cloud video management system</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,411</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(350</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,061</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other computer software</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">116</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(113</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 1.6pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,438</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,632</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,765</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of December 31, 2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,408</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,408</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,941</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,941</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(580</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left">  |
Note 13 - Accrued Payroll and_2
Note 13 - Accrued Payroll and Other Accruals (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Accrued payroll and staff welfare 238 208 Accrued operating expenses 173 313 411 521 |
Note 14 - Taxation (Tables)
Note 14 - Taxation (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule Of Taxes Payable [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) PRC turnover tax and surcharge payable 1,304 1,215 PRC enterprise income tax payable 1,816 1,782 Total taxes payable 3,120 2,997 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Current-PRC - - Deferred-PRC (39 ) 4 Income tax (expense)/benefit (39 ) 4 |
Schedule Of Deferred Tax Assets [Table Text Block] | March 31, 2019 December 31, 2018 US$(’000) US$(’000) (Unaudited) Tax effect of net operating losses carried forward 9,466 9,243 Bad debts provision 1,240 1,188 Valuation allowance (10,179 ) (9,875 ) Deferred tax assets, net 527 556 |
Note 16 - Warrant Liabilities (
Note 16 - Warrant Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Warrant Liabilities [Table Text Block] | As of March 31, 2019 As of December 31, 2018 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 793 503 290 Placement agent warrants 163 103 60 Warrant liabilities 956 606 350 As of March 31, 2018 As of January 17, 2018 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 664 1,890 (1,226 ) Placement agent warrants 137 385 (248 ) Warrant liabilities 801 2,275 (1,474 ) |
Schedule of Warrant Activity [Table Text Block] | Warrant Outstanding Warrant Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2019 774,000 1.63 $ 6.60 774,000 1.63 $ 6.60 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2019 (Unaudited) 774,000 1.38 $ 6.60 774,000 1.38 $ 6.60 |
Warrant [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Investors warrants Placement agent warrants As of As of As of As of Stock price $ 1.34 $ 1.95 $ 1.34 $ 1.95 Years to maturity 1.55 1.30 2.05 1.80 Risk-free interest rate 2.50 % 2.27 % 2.50 % 2.27 % Dividend yield - - - - Expected volatility 199 % 216 % 176 % 187 % Exercise Price $ 6.60 $ 6.60 $ 6.60 $ 6.60 Fair value of the warrant $ 0.78 $ 1.23 $ 0.80 $ 1.26 Investors warrants Placement agent warrants As of As of As of As of Stock price $ 3.98 $ 1.67 $ 3.98 $ 1.67 Years to maturity 2.5 2.3 3.0 2.8 Risk-free interest rate 2.22 % 2.35 % 2.39 % 2.50 % Dividend yield - - - - Expected volatility 158 % 164 % 147 % 152 % Exercise Price $ 6.60 $ 6.60 $ 6.60 $ 6.60 Fair value of the warrant $ 2.93 $ 1.03 $ 2.99 $ 1.06 |
Note 19 - Concentration of Ri_2
Note 19 - Concentration of Risk (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customer A Customer B Customer C Three Months Ended March 31, 2019 Revenues, customer concentration risk 17% - * Three Months Ended March 31, 2018 Revenues, customer concentration risk - 36% * As of March 31, 2019 Accounts receivable, customer concentration risk 72% - 11% As of December 31, 2018 Accounts receivable, customer concentration risk 74% - 12% Supplier A Supplier B Three Months Ended March 31, 2019 Cost of revenues, supplier concentration risk 89% * Three Months Ended March 31, 2018 Cost of revenues, supplier concentration risk 73% 21% |
Note 21 - Segment Reporting (Ta
Note 21 - Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Internet Ad. service TV Ad. Blockchain technology Corporate Inter- segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 8,567 - - - - 8,567 Cost of revenues 8,125 - - - - 8,125 Total operating expenses 705 18 5 452 (1) - 1,180 Depreciation and amortization expense included in total operating expenses 23 - - 15 - 38 Operating loss (263 ) (18 ) (5 ) (452 ) - (738 ) Change in fair value of warrant liabilities - - - (350 ) - (350 ) Net loss (315 ) (19 ) (5 ) (801 ) - (1,140 ) Total assets-March 31, 2019 11,587 242 3,391 16,695 (16,840 ) 15,075 Total assets-December 31, 2018 12,756 207 3,396 17,155 (16,546 ) 16,989 Internet Ad. and data service TV Ad. Blockchain technology Corporate Inter- segment and reconciling item Total US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) US$ (‘000) Revenues 8,169 91 - 371 (371 ) 8,260 Cost of revenues 7,621 38 - - - 7,659 Total operating expenses 1,622 22 - 873 (1) (371 ) 2,146 Depreciation and amortization expense included in total operating expenses 197 - - 19 - 216 Operating (loss)/income (1,074 ) 31 - (502 ) - (1,545 ) Impairment on long-term investments - - - (471 ) - (471 ) Change in fair value of warrant liabilities - - - 1,474 - 1,474 Net (loss)/income (1,073 ) 20 - 483 - (570 ) Expenditure for long-term assets 448 - 1,200 1 - 1,649 |
Note 22 - Loss Per Share (Table
Note 22 - Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) $ (1,138 ) $ (565 ) Weighted average number of common shares outstanding -Basic and diluted 16,410,543 15,484,082 Loss per share -Basic and diluted $ (0.07 ) $ (0.04 ) |
Note 23 - Share-based Compens_2
Note 23 - Share-based Compensation Expenses (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Option Outstanding Option Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2019 835,216 2.04 $ 2.49 835,216 2.04 $ 2.49 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2019 (Unaudited) 835,216 1.79 $ 2.49 835,216 1.79 $ 2.49 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2019 2018 US$(’000) US$(’000) (Unaudited) (Unaudited) Sales and marketing expenses - 13 General and administrative expenses 101 51 Research and development expenses - 11 Total 101 75 |
Note 2 - Variable Interest En_3
Note 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | |
Current assets: | |||||
Cash and cash equivalents | $ 1,483 | $ 3,742 | $ 7,503 | $ 2,952 | |
Accounts receivable, net | 6,830 | 6,359 | |||
Prepayment and deposit to suppliers | 2,079 | 2,154 | |||
Due from related parties, net | 207 | 226 | |||
Other current assets, net | 9 | 19 | |||
Total current assets | 10,608 | 12,500 | |||
Long-term investments | 36 | ||||
Property and equipment, net | 112 | 142 | |||
Intangible assets, net | 41 | 45 | |||
Operating lease right-of-use assets | 20 | ||||
Deferred tax assets, net | 527 | 556 | |||
Total Assets | 15,075 | 16,989 | |||
Current liabilities: | |||||
Short-term Bank Loans and Notes Payable | [1] | 891 | 874 | ||
Accounts payable | [1] | 1,165 | 2,869 | ||
Advances from customers | [1] | 1,644 | 1,061 | ||
Accrued payroll and other accruals | [1] | 411 | 521 | ||
Taxes payable | [1] | 3,120 | 2,997 | ||
Other current liabilities | 127 | 118 | |||
Total current liabilities | 7,358 | 8,440 | |||
Total Liabilities | 8,444 | 9,174 | |||
VIEs [Member] | |||||
Current assets: | |||||
Cash and cash equivalents | 673 | 2,328 | |||
Accounts receivable, net | 6,830 | 6,359 | |||
Prepayment and deposit to suppliers | 1,716 | 1,724 | |||
Due from related parties, net | 7 | 26 | |||
Other current assets, net | 4 | 11 | |||
Total current assets | 9,230 | 10,448 | |||
Long-term investments | 36 | ||||
Property and equipment, net | 68 | 84 | |||
Intangible assets, net | 38 | 42 | |||
Operating lease right-of-use assets | 20 | ||||
Deferred tax assets, net | 527 | 556 | |||
Total Assets | 9,919 | 11,130 | |||
Current liabilities: | |||||
Short-term Bank Loans and Notes Payable | 891 | 874 | |||
Accounts payable | 1,164 | 2,868 | |||
Advances from customers | 1,642 | 1,059 | |||
Accrued payroll and other accruals | 179 | 155 | |||
Taxes payable | 2,677 | 2,562 | |||
Other current liabilities | 65 | 55 | |||
Total current liabilities | 6,618 | 7,573 | |||
Total Liabilities | $ 6,618 | $ 7,573 | |||
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 2 - Variable Interest En_4
Note 2 - Variable Interest Entities - Consolidated VIEs' Financial Performance (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues | $ 8,567 | $ 8,260 |
Cost of revenues | (8,125) | (7,659) |
Total operating expenses | 1,180 | 2,146 |
Net loss before allocation to noncontrolling interests | (1,140) | (570) |
VIEs [Member] | ||
Revenues | 8,567 | 8,253 |
Cost of revenues | (8,125) | (7,659) |
Total operating expenses | (711) | (1,262) |
Net loss before allocation to noncontrolling interests | $ (322) | $ (678) |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) | 3 Months Ended | |||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Net Income (Loss) Attributable to Parent, Total | $ (1,138,000) | $ (565,000) | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 1,483,000 | 7,503,000 | $ 3,742,000 | $ 2,952,000 |
Net Cash Provided by (Used in) Operating Activities, Total | (2,270,000) | (3,179,000) | ||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 0 | 0 | ||
Advertising Expense | 389,000 | |||
Research and Development Expense, Total | $ 201,000 | 218,000 | ||
Lessee, Operating Lease, Discount Rate | 6.00% | |||
Operating Lease, Right-of-Use Asset | $ 20,000 | |||
Operating Lease, Liability, Total | 10,000 | |||
Operating Lease, Cost | 90,000 | $ 100,000 | ||
Other Current Assets [Member] | ||||
Operating Lease, Right-of-Use Asset | 20,000 | |||
Other Current Liabilities [Member] | ||||
Operating Lease, Liability, Total | $ 10,000 | |||
Minimum [Member] | ||||
Lessee, Operating Lease, Term of Contract | 2 years | |||
Maximum [Member] | ||||
Lessee, Operating Lease, Term of Contract | 3 years | |||
CHINA | ||||
Number of Lease Offices | 2 | |||
Beijing [Member] | ||||
Number of Lease Offices | 1 | |||
Hubei [Member] | ||||
Number of Lease Offices | 1 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Exchange Rates Used to Translate Amounts In RMB Into US$ (Details) | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Items in the statements of operations and comprehensive loss, and statements of cash flows | 6.7468 | 6.3632 | |
Balance Sheet Items, Except Equity Accounts [Member] | |||
Balance sheet items, except for equity accounts | 6.7335 | 6.8632 |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Warrant liabilities (Note 16) | $ 956 | $ 606 |
Fair Value, Inputs, Level 1 [Member] | ||
Warrant liabilities (Note 16) | ||
Fair Value, Inputs, Level 2 [Member] | ||
Warrant liabilities (Note 16) | ||
Fair Value, Inputs, Level 3 [Member] | ||
Warrant liabilities (Note 16) | $ 956 | $ 606 |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenues | $ 8,567 | $ 8,260 |
Search Engine Marketing and Data Service [Member] | ||
Revenues | 6,725 | 6,443 |
Online Advertising Placement [Member] | ||
Revenues | 1,831 | 1,597 |
Sales of Effective Sales Lead Information [Member] | ||
Revenues | 6 | 122 |
TV Advertising Service [Member] | ||
Revenues | 91 | |
Product and Service, Other [Member] | ||
Revenues | 5 | 7 |
Transferred over Time [Member] | ||
Revenues | 8,561 | 8,138 |
Transferred at Point in Time [Member] | ||
Revenues | $ 6 | $ 122 |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Contract liabilities (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Balance as of January 1, 2019 | $ 1,061 |
Exchange translation adjustment | 20 |
Revenue recognized from beginning contract liability balance | (548) |
Advances received from customers related to unsatisfied performance obligations | 1,111 |
Balance as of March 31, 2019 (Unaudited) | $ 1,644 |
Note 3 - Summary of Significa_8
Note 3 - Summary of Significant Accounting Policies - Maturities of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2019USD ($) |
-2019 | |
-2020 | 11 |
Total undiscounted lease payments | 11 |
Less: imputed interest | (1) |
Operating lease liabilities as of March 31, 2019 | $ 10 |
Note 3 - Summary of Significa_9
Note 3 - Summary of Significant Accounting Policies - Supplement Information Related to Operating Leases (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Operating cash flows used for operating leases | $ 93 |
Right-of-use assets obtained in exchange for new lease liabilities | $ 10 |
Weighted-average remaining lease term (years) (Year) | 1 year 350 days |
Weighted-average discount rate | 6.00% |
Note 4 - Accounts Receivable,_3
Note 4 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Accounts Receivable, Credit Loss Expense (Reversal) | $ 192 | $ 481 |
Internet Advertising and TV Advertising [Member] | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | $ 3,700 | 3,400 |
Number of Months Past Due | 180 days | |
Accounts Receivable, Credit Loss Expense (Reversal) | $ 190 | $ 470 |
Note 4 - Accounts Receivable,_4
Note 4 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Accounts receivable | $ 10,481 | $ 9,752 |
Allowance for doubtful accounts | (3,651) | (3,393) |
Accounts receivable, net | $ 6,830 | $ 6,359 |
Note 5 - Prepayments and Depo_3
Note 5 - Prepayments and Deposit to Suppliers - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Prepayment and deposit to suppliers | $ 2,079 | $ 2,154 |
Deposits to TV Ad and Internet Ad Resources Providers [Member] | ||
Prepayment and deposit to suppliers | 743 | 963 |
Prepayment to TV Ad and Internet Ad Resources Providers [Member] | ||
Prepayment and deposit to suppliers | 936 | 727 |
Other Deposits and Prepayments [Member] | ||
Prepayment and deposit to suppliers | $ 400 | $ 464 |
Note 6 - Due From Related Par_3
Note 6 - Due From Related Parties, Net (Details Textual) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||
Apr. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) | Mar. 31, 2019USD ($) | Dec. 31, 2018CNY (¥) | Mar. 31, 2018USD ($) | |
Due from Related Parties, Current, Total | $ 226 | $ 207 | ||||
Fund Advanced to Company Management [Member] | Officer [Member] | ||||||
Due from Related Parties, Total | 200 | $ 200 | ||||
Related Party Transaction, Amounts of Transaction | $ 200 | |||||
Related-party Working Capital Loans [Member] | Chuangshi Meiwei and Guoshua Shiji [Member] | ||||||
Due from Related Parties, Current, Total | 200 | ¥ 1,380 | ||||
Proceeds from Collection of Short-term Loans to Related Parties | $ 30 | ¥ 180 | ||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 10 |
Note 6 - Due From Related Par_4
Note 6 - Due From Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Due from related parties, gross | $ 385 | $ 401 |
Allowance for doubtful accounts | (178) | (175) |
Due from Related Parties, Current, Total | 207 | 226 |
Officer [Member] | ||
Due from related parties, gross | 200 | 200 |
Guohua Shiji [Member] | ||
Due from related parties, gross | 178 | 201 |
Zhong Wang Xi Yue Technology (Beijing) Co. Ltd [Member] | ||
Due from related parties, gross | $ 7 |
Note 7 - Other Current Assets_3
Note 7 - Other Current Assets, Net (Details Textual) $ in Thousands, ¥ in Millions | Mar. 31, 2019USD ($) | Mar. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | Dec. 31, 2018CNY (¥) |
Internet Advertising And TV Advertising Contractual Deposit [Member] | ||||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 1,600 | ¥ 11 | $ 1,600 | ¥ 11 |
Short-term Working Capital Loan to an Unrelated Third Party [Member] | ||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 150 | ¥ 1 | $ 150 | ¥ 1 |
Note 7 - Other Current Assets_4
Note 7 - Other Current Assets, Net - Summary of Other Current Assets, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Total, gross | $ 1,808 | $ 1,784 |
Total allowance for doubtful accounts | (1,799) | (1,765) |
Other current assets, net | 9 | 19 |
Short-term Working Capital Loan to an Unrelated Third Party [Member] | ||
Other receivables, gross | 149 | 146 |
Allowance for doubtful accounts receivable | (149) | (146) |
Other receivables, net | ||
TV Advertisement Deposit and Prepayment [Member] | ||
Other receivables, gross | 9 | 19 |
Allowance for doubtful accounts receivable | ||
Other receivables, net | 9 | 19 |
Overdue Deposits [Member] | ||
Other receivables, gross | 1,650 | 1,619 |
Allowance for doubtful accounts receivable | (1,650) | (1,619) |
Other receivables, net |
Note 8 - Long-term Investments
Note 8 - Long-term Investments (Details Textual) - Local Chain Xi’an [Member] ¥ in Thousands, $ in Thousands | Mar. 31, 2019USD ($) | Mar. 31, 2019CNY (¥) |
Equity Securities without Readily Determinable Fair Value, Amount | $ 40 | ¥ 250 |
Equity Securities without Readily Determinable Fair Value, Percent | 4.90% | 4.90% |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Depreciation, Total | $ 33,000 | $ 48,000 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 3,462 | $ 3,397 |
Less: accumulated depreciation | (3,350) | (3,255) |
Property and equipment, net | 112 | 142 |
Leaseholds and Leasehold Improvements [Member] | ||
Property and equipment, gross | 327 | 321 |
Vehicles [Member] | ||
Property and equipment, gross | 785 | 771 |
Office Equipment [Member] | ||
Property and equipment, gross | 1,379 | 1,353 |
Electronic Devices [Member] | ||
Property and equipment, gross | $ 971 | $ 952 |
Note 10 - Intangible Assets, _3
Note 10 - Intangible Assets, Net (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Amortization of Intangible Assets, Total | $ 5,000 | $ 168,000 |
Finite-Lived Intangible Asset, Useful Life | 2 years 83 days | |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 14,000 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 19,000 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | $ 9,000 |
Note 10 - Intangible Assets, _4
Note 10 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Finite-lived intangible assets, Impairment | $ (7,765) | $ (7,618) |
Finite-lived intangible assets | 14,438 | 14,165 |
Finite-lived intangible assets, Accumulated amortization | (6,632) | (6,502) |
Intangible assets, net | 41 | 45 |
Customer Relationships [Member] | ||
Finite-lived intangible assets, Impairment | ||
Finite-lived intangible assets | 1,979 | 1,941 |
Finite-lived intangible assets, Accumulated amortization | (1,979) | (1,941) |
Intangible assets, net | ||
Noncompete Agreements [Member] | ||
Finite-lived intangible assets, Impairment | (497) | (488) |
Finite-lived intangible assets | 1,089 | 1,068 |
Finite-lived intangible assets, Accumulated amortization | (592) | (580) |
Intangible assets, net | ||
Software Technologies [Member] | ||
Finite-lived intangible assets, Impairment | ||
Finite-lived intangible assets | 304 | 299 |
Finite-lived intangible assets, Accumulated amortization | (304) | (299) |
Intangible assets, net | ||
Cloud-Computing Based Software Platforms [Member] | ||
Finite-lived intangible assets, Impairment | (423) | (415) |
Finite-lived intangible assets | 1,378 | 1,353 |
Finite-lived intangible assets, Accumulated amortization | (917) | (896) |
Intangible assets, net | 38 | 42 |
Intelligent Marketing Data Service Platform [Member] | ||
Finite-lived intangible assets, Impairment | (2,853) | (2,799) |
Finite-lived intangible assets | 4,795 | 4,705 |
Finite-lived intangible assets, Accumulated amortization | (1,942) | (1,906) |
Intangible assets, net | ||
Internet Safety, Information Exchange Security and Data Encryption Software [Member] | ||
Finite-lived intangible assets, Impairment | (1,496) | (1,468) |
Finite-lived intangible assets | 1,931 | 1,894 |
Finite-lived intangible assets, Accumulated amortization | (435) | (426) |
Intangible assets, net | ||
Computer Software, Cloud Video Management System [Member] | ||
Finite-lived intangible assets, Impairment | (1,061) | (1,040) |
Finite-lived intangible assets | 1,411 | 1,383 |
Finite-lived intangible assets, Accumulated amortization | (350) | (343) |
Intangible assets, net | ||
Other Computer Software [Member] | ||
Finite-lived intangible assets, Impairment | ||
Finite-lived intangible assets | 116 | 114 |
Finite-lived intangible assets, Accumulated amortization | (113) | (111) |
Intangible assets, net | 3 | 3 |
Domain Name [Member] | ||
Domain name | 1,435 | 1,408 |
Finite-lived intangible assets, Impairment | $ (1,435) | $ (1,408) |
Note 11 - Blockchain Software_2
Note 11 - Blockchain Software Application Platform Development Costs (Details Textual) $ in Thousands, ¥ in Millions | 3 Months Ended | 14 Months Ended | ||||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2018CNY (¥) | Feb. 28, 2018USD ($) | |
Payment for Blockchain Technology Based Applications Development Costs | $ 1,200 | $ 3,730 | ||||
Contract to Develop Blockchain Technology Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 4,940 | $ 4,500 | ||||
Contract to Develop Social Network Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 440 | ¥ 3 |
Note 12 - Short-term Bank Loa_2
Note 12 - Short-term Bank Loan and Credit Facility (Details Textual) $ in Thousands, ¥ in Millions | Sep. 29, 2019USD ($) | Sep. 29, 2019CNY (¥) | Jul. 29, 2019USD ($) | Jul. 29, 2019CNY (¥) | Mar. 31, 2019USD ($) | Mar. 31, 2019CNY (¥) | Dec. 31, 2018USD ($) | |
Short-term Bank Loans and Notes Payable | [1] | $ 891 | $ 874 | |||||
Restricted Cash and Cash Equivalents, Total | $ 30 | |||||||
Maximum [Member] | ||||||||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 5.655% | 5.655% | ||||||
Debt Instrument, Basis Spread on Variable Rate | 30.00% | |||||||
VIEs [Member] | ||||||||
Short-term Bank Loans and Notes Payable | $ 891 | $ 874 | ||||||
VIEs [Member] | Loans Payable [Member] | ||||||||
Short-term Bank Loans and Notes Payable | 700 | ¥ 5 | ||||||
VIEs [Member] | Loan Payable Borrowed on August 16, 2017 [Member] | ||||||||
Short-term Bank Loans and Notes Payable | 450 | 3 | ||||||
VIEs [Member] | Loan Payable Borrowed on September 30, 2018 [Member] | ||||||||
Short-term Bank Loans and Notes Payable | $ 450 | ¥ 3 | ||||||
VIEs [Member] | Loan Payable Borrowed on September 30, 2018 [Member] | Forecast [Member] | ||||||||
Repayments of Short-term Debt, Total | $ 220 | ¥ 1.5 | $ 220 | ¥ 1.5 | ||||
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 13 - Accrued Payroll and_3
Note 13 - Accrued Payroll and Other Accruals - Accrued Payroll and Other Accruals (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
Accrued payroll and other accruals * | [1] | $ 411 | $ 521 |
Accrued Payroll and Staff Welfare [Member] | |||
Accrued payroll and other accruals * | 238 | 208 | |
Accrued Operating Expenses [Member] | |||
Accrued payroll and other accruals * | $ 173 | $ 313 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 14 - Taxation (Details Tex
Note 14 - Taxation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Nov. 30, 2015 | |
Federal Income Tax Expense (Benefit), Continuing Operations, Total | $ 0 | $ 0 | |||
Income Tax Withholding Rate Pursuant to EIT Law | 10.00% | 10.00% | |||
Operating Loss Carryforwards, Total | $ 19,400 | $ 19,400 | $ 19,200 | ||
Operating Loss Carryforwards, Taxable Income Deduction Limitations | 80.00% | 80.00% | |||
Deferred Tax Assets, Valuation Allowance, Total | $ 10,179 | $ 10,179 | 9,875 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 200 | $ 400 | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 60 | ||||
Minimum [Member] | |||||
PRC Value Added Tax Surcharge Rate | 12.00% | 12.00% | |||
Maximum [Member] | |||||
PRC Value Added Tax Surcharge Rate | 14.00% | 14.00% | |||
PRC [Member] | |||||
PRC Value Added Tax Rate for Modern Service Provided | 6.00% | 6.00% | |||
PRC [Member] | Provision of Modern Services Small Scale Tax Payer [Member] | |||||
PRC Value Added Tax Rate for Modern Service Provided Small Scale Tax Payer | 3.00% | 3.00% | |||
Tax Treaty Agreement [Member] | |||||
Income Tax Withholding Rate Pursuant to EIT Law | 5.00% | 5.00% | |||
HONG KONG | |||||
Federal Income Tax Expense (Benefit), Continuing Operations, Total | 0 | ||||
Other Tax Expense (Benefit) | $ 0 | ||||
Applicable Income Tax Rate for First Profit Limit | 8.25% | ||||
Applicable Income Tax Rate for Subsequent Profit | 16.50% | ||||
Profits Assessable | 0 | ||||
ChinaNet BVI [Member] | |||||
Other Tax Expense (Benefit) | $ 0 | ||||
Other PRC Operating Entities [Member] | PRC [Member] | |||||
Applicable Income Tax Rate | 25.00% | 25.00% | |||
Business Opportunity Online [Member] | PRC [Member] | |||||
Applicable Income Tax Rate | 15.00% | ||||
Business Opportunity Online [Member] | PRC [Member] | Minimum [Member] | |||||
Enterprise Income Tax Rate In PRC | 15.00% | ||||
PRC Subsidiary And VIE's [Member] | |||||
Operating Loss Carryforwards, Total | $ 25,600 | $ 25,600 | $ 25,200 |
Note 14 - Taxation - Taxes Paya
Note 14 - Taxation - Taxes Payable (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 | |
PRC turnover tax and surcharge payable | $ 1,304 | $ 1,215 | |
PRC enterprise income tax payable | 1,816 | 1,782 | |
Total taxes payable | [1] | $ 3,120 | $ 2,997 |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 14 - Taxation - Income Tax
Note 14 - Taxation - Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Current-PRC | ||
Deferred-PRC | (39) | 4 |
Income tax (expense)/benefit | $ (39) | $ 4 |
Note 14 - Taxation - Deferred T
Note 14 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Tax effect of net operating losses carried forward | $ 9,466 | $ 9,243 |
Bad debts provision | 1,240 | 1,188 |
Valuation allowance | (10,179) | (9,875) |
Deferred tax assets, net | $ 527 | $ 556 |
Note 16 - Warrant Liabilities_2
Note 16 - Warrant Liabilities (Details Textual) | Jan. 17, 2018$ / sharesshares |
Investor Warrants [Member] | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 645,000 |
Placement Agent Warrants [Member] | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 129,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 6.60 |
Private Placement [Member] | |
Stock Issued During Period, Shares, New Issues | 2,150,001 |
Shares Issued, Price Per Share | $ / shares | $ 5.15 |
Note 16 - Warrant liabilities -
Note 16 - Warrant liabilities - Fair Value of Warrants (Details) | Mar. 31, 2019yr | Dec. 31, 2018yr | Mar. 31, 2018yr | Jan. 17, 2018yr |
Measurement Input, Share Price [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 1.95 | 1.34 | 1.67 | 3.98 |
Measurement Input, Share Price [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 1.95 | 1.34 | 1.67 | 3.98 |
Measurement Input, Expected Term [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 1.3 | 1.55 | 2.3 | 2.5 |
Measurement Input, Expected Term [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 1.8 | 2.05 | 2.8 | 3 |
Measurement Input, Risk Free Interest Rate [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 0.0227 | 0.025 | 0.0235 | 0.0222 |
Measurement Input, Risk Free Interest Rate [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 0.0227 | 0.025 | 0.025 | 0.0239 |
Measurement Input, Expected Dividend Rate [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | ||||
Measurement Input, Expected Dividend Rate [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | ||||
Measurement Input, Price Volatility [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 2.16 | 1.99 | 1.64 | 1.58 |
Measurement Input, Price Volatility [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 1.87 | 1.76 | 1.52 | 1.47 |
Measurement Input, Exercise Price [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 6.6 | 6.6 | 6.6 | 6.6 |
Measurement Input, Exercise Price [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 6.6 | 6.6 | 6.6 | 6.6 |
Measurement Input, Quoted Price [Member] | Investor Warrants [Member] | ||||
Fair value of the warrants | 1.23 | 0.78 | 1.03 | 2.93 |
Measurement Input, Quoted Price [Member] | Placement Agent Warrants [Member] | ||||
Fair value of the warrants | 1.26 | 0.8 | 1.06 | 2.99 |
Note 16 - Warrant Liabilities_3
Note 16 - Warrant Liabilities - Warrant Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | Jan. 17, 2018 | |
Proceeds allocated to warrant liabilities | $ 956 | $ 801 | $ 606 | $ 2,275 |
Change in fair value of warrants | 350 | (1,474) | ||
Investor Warrants [Member] | ||||
Proceeds allocated to warrant liabilities | 793 | 664 | 503 | 1,890 |
Change in fair value of warrants | 290 | (1,226) | ||
Placement Agent Warrants [Member] | ||||
Proceeds allocated to warrant liabilities | 163 | 137 | $ 103 | $ 385 |
Change in fair value of warrants | $ 60 | $ (248) |
Note 16 - Warrant liabilities_4
Note 16 - Warrant liabilities - Warrant Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Balance (in shares) | 774,000 | |
Weighted average remaining contractual life (Year) | 1 year 138 days | 1 year 229 days |
Weighted average exercise price (in dollars per share) | $ 6.60 | |
Exercisable (in shares) | 774,000 | |
Exercisable, weighted average remaining contractual life (Year) | 1 year 138 days | 1 year 229 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 6.60 | |
Granted/Vested (in shares) | ||
Forfeited (in shares) | ||
Exercised (in shares) | ||
Balance (in shares) | 774,000 | 774,000 |
Weighted average exercise price (in dollars per share) | $ 6.60 | $ 6.60 |
Exercisable (in shares) | 774,000 | 774,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ 6.60 | $ 6.60 |
Note 17 - Restricted Net Asse_2
Note 17 - Restricted Net Assets (Details Textual) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $ 12 | $ 12 |
Withholding Tax Rate Pursuant To EIT Law | 10.00% | |
Preferential Withholding Tax Rate | 5.00% | |
WFOE [Member] | ||
Minimum Percentage Of Annual After-tax Profit For General Reserve | 10.00% | |
Minimum Required Reserve As Percent Of Registered Capital | 50.00% | |
Domestic Enterprise [Member] | ||
Minimum Percentage Of Annual After-tax Profit For General Reserve | 10.00% | |
Minimum Required Reserve As Percent Of Registered Capital | 50.00% |
Note 18 - Employee Defined Co_2
Note 18 - Employee Defined Contribution Plan (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Defined Contribution Plan, Cost | $ 93,000 | $ 88,000 |
Note 19 - Concentration of Ri_3
Note 19 - Concentration of Risk (Details Textual) | Mar. 31, 2019 |
CHINA | |
Percent of Cash and Cash Equivalents Held by Major Financial Institutions | 56.00% |
UNITED STATES | |
Percent of Cash and Cash Equivalents Held by Major Financial Institutions | 44.00% |
Note 19 - Concentration of Ri_4
Note 19 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | ||
Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier A [Member] | ||||
Revenues, customer concentration risk | 89.00% | 73.00% | ||
Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier B [Member] | ||||
Revenues, customer concentration risk | [1] | 21.00% | ||
Customer A [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Revenues, customer concentration risk | 17.00% | |||
Customer A [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||
Revenues, customer concentration risk | 72.00% | 74.00% | ||
Customer C [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Revenues, customer concentration risk | [1] | |||
Customer C [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||
Revenues, customer concentration risk | 11.00% | 12.00% | ||
Customer B [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Revenues, customer concentration risk | 36.00% | |||
[1] | Less than 10%. |
Note 20 - Commitments and Con_2
Note 20 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 14 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Feb. 28, 2018 | |
Payment for Blockchain Technology Based Applications Development Costs | $ 1,200 | $ 3,730 | |||
Contract to Develop Blockchain Technology Based Applications [Member] | |||||
Application Development Contracts, Contract Amount | $ 4,940 | $ 4,500 |
Note 21 - Segment Reporting (De
Note 21 - Segment Reporting (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Payment Arrangement, Expense | $ 101,000 | $ 75,000 |
Note 21 - Segment Reporting - S
Note 21 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |||
Revenues | $ 8,567 | $ 8,260 | |||
Cost of revenues | 8,125 | 7,659 | |||
Total operating expenses | 1,180 | 2,146 | |||
Depreciation and amortization expense included in total operating expenses | 38 | 216 | |||
Operating (loss)/income | (738) | (1,545) | |||
Change in fair value of warrant liabilities | (350) | 1,474 | |||
Net (loss)/income | (1,140) | (570) | |||
Total assets | 15,075 | $ 16,989 | |||
Impairment on long-term investments | (471) | ||||
Expenditure for long-term assets | 1,649 | ||||
Operating Segments [Member] | Internet Ad [Member] | |||||
Revenues | 8,567 | 8,169 | |||
Cost of revenues | 8,125 | 7,621 | |||
Total operating expenses | 705 | 1,622 | |||
Depreciation and amortization expense included in total operating expenses | 23 | 197 | |||
Operating (loss)/income | (263) | (1,074) | |||
Change in fair value of warrant liabilities | |||||
Net (loss)/income | (315) | (1,073) | |||
Total assets | 11,587 | 12,756 | |||
Impairment on long-term investments | |||||
Expenditure for long-term assets | 448 | ||||
Operating Segments [Member] | TV Ad [Member] | |||||
Revenues | 91 | ||||
Cost of revenues | 38 | ||||
Total operating expenses | 18 | 22 | |||
Depreciation and amortization expense included in total operating expenses | |||||
Operating (loss)/income | (18) | 31 | |||
Change in fair value of warrant liabilities | |||||
Net (loss)/income | (19) | 20 | |||
Total assets | 242 | 207 | |||
Impairment on long-term investments | |||||
Expenditure for long-term assets | |||||
Operating Segments [Member] | Blockchain Technology [Member] | |||||
Revenues | |||||
Cost of revenues | |||||
Total operating expenses | 5 | ||||
Depreciation and amortization expense included in total operating expenses | |||||
Operating (loss)/income | (5) | ||||
Change in fair value of warrant liabilities | |||||
Net (loss)/income | (5) | ||||
Total assets | 3,391 | 3,396 | |||
Impairment on long-term investments | |||||
Expenditure for long-term assets | 1,200 | ||||
Corporate, Non-Segment [Member] | |||||
Revenues | 371 | ||||
Cost of revenues | |||||
Total operating expenses | 452 | [1] | 873 | [2] | |
Depreciation and amortization expense included in total operating expenses | 15 | 19 | |||
Operating (loss)/income | (452) | (502) | |||
Change in fair value of warrant liabilities | (350) | 1,474 | |||
Net (loss)/income | (801) | 483 | |||
Total assets | 16,695 | 17,155 | |||
Impairment on long-term investments | (471) | ||||
Expenditure for long-term assets | 1 | ||||
Intersegment Eliminations [Member] | |||||
Revenues | (371) | ||||
Cost of revenues | |||||
Total operating expenses | (371) | ||||
Depreciation and amortization expense included in total operating expenses | |||||
Operating (loss)/income | |||||
Change in fair value of warrant liabilities | |||||
Net (loss)/income | |||||
Total assets | $ (16,840) | $ (16,546) | |||
Impairment on long-term investments | |||||
Expenditure for long-term assets | |||||
[1] | Including approximately US$101,000 share-based compensation expenses. | ||||
[2] | Including approximately US$75,000 share-based compensation expenses. |
Note 22 - Loss Per Share (Detai
Note 22 - Loss Per Share (Details Textual) - shares | 3 Months Ended | ||
Mar. 31, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | |
Warrant [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 774,000 | 774,000 | |
Share-based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 835,216 | 835,216 | |
Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 266,238 |
Note 22 - Loss Per Share - Basi
Note 22 - Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) | $ (1,138) | $ (565) |
Weighted average number of common shares outstanding -Basic and diluted (in shares) | 16,410,543 | 15,484,082 |
Loss per share -Basic and diluted (in dollars per share) | $ (0.07) | $ (0.04) |
Note 23 - Share-based Compens_3
Note 23 - Share-based Compensation Expenses (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | ||
Jan. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Payment Arrangement, Expense | $ 101,000 | $ 75,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 340,000 | 290,000 | ||
Director [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 30,000 | |||
Share Price | $ 1.77 | |||
Share-based Payment Arrangement, Expense | $ 13,000 | |||
Management Consulting and Advisor Service Providers [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 250,000 | |||
Share Price | $ 1.43 | |||
Share-based Payment Arrangement, Expense | $ 88,000 | |||
Management Consulting and Advisor Service Term | 1 year | |||
Issuance of Stock and Warrants for Services or Claims | $ 358,000 |
Note 23 - Share-based Compens_4
Note 23 - Share-based Compensation Expenses - Options Issued and Outstanding (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Options outstanding, number of underlying shares (in shares) | 835,216 | |
Options outstanding, weighted average remaining contractual life (Year) | 1 year 288 days | 2 years 14 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.49 | |
Option exercisable, number of underlying shares (in shares) | 835,216 | |
Option exercisable, weighted average remaining contractual life (Year) | 1 year 288 days | 2 years 14 days |
Option exercisable, weighted average exercise price (in dollars per share) | $ 2.49 | |
Options outstanding, granted/vested shares (in shares) | 0 | |
Options outstanding, granted/vested, weighted average exercise price (in dollars per share) | $ 0 | |
Options outstanding, forfeited (in shares) | 0 | |
Options outstanding, forfeited, weighted average exercise price (in dollars per share) | $ 0 | |
Options outstanding, exercised (in shares) | 0 | |
Options outstanding, exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Options outstanding, number of underlying shares (in shares) | 835,216 | 835,216 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.49 | $ 2.49 |
Option exercisable, number of underlying shares (in shares) | 835,216 | 835,216 |
Option exercisable, weighted average exercise price (in dollars per share) | $ 2.49 | $ 2.49 |
Note 23 - Share-based Compens_5
Note 23 - Share-based Compensation Expenses - Share-based Compensation Expenses (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation expenses | $ 101,000 | $ 75,000 |
Selling and Marketing Expense [Member] | ||
Share-based Compensation expenses | 13,000 | |
General and Administrative Expense [Member] | ||
Share-based Compensation expenses | 101,000 | 51,000 |
Research and Development Expense [Member] | ||
Share-based Compensation expenses | $ 11,000 |