Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | Jun. 26, 2020 | |
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 Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 21,691,926 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $0.001 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Current assets | |||
Cash and cash equivalents | $ 1,555 | $ 1,603 | |
Accounts receivable, net of allowance for doubtful accounts of $3,504 and $3,148, respectively | 3,070 | 3,260 | |
Prepayment and deposit to suppliers | 4,946 | 6,980 | |
Due from related parties, net | 51 | 81 | |
Other current assets, net | 831 | 11 | |
Total current assets | 10,453 | 11,935 | |
Long-term investments | 34 | 35 | |
Operating lease right-of-use assets | 9 | 12 | |
Property and equipment, net | 75 | 78 | |
Intangible assets, net | 1,698 | 1,899 | |
Blockchain platform applications development costs | 4,175 | 3,879 | |
Long-term prepayments | 1,344 | ||
Deferred tax assets, net | 706 | 713 | |
Total Assets | 18,494 | 18,551 | |
Current liabilities | |||
Short-term bank loan | [1] | 430 | |
Accounts payable | [1] | 257 | 408 |
Advances from customers | [1] | 2,104 | 2,006 |
Accrued payroll and other accruals | [1] | 524 | 491 |
Taxes payable | [1] | 3,261 | 3,214 |
Lease payment liabilities related to short-term leases | [1] | 170 | 136 |
Other current liabilities | [1] | 442 | 221 |
Warrant liabilities | 61 | 107 | |
Total current liabilities | 6,819 | 7,013 | |
Long-term liabilities: | |||
Long-term borrowing from a director | 124 | 125 | |
Total Liabilities | 6,943 | 7,138 | |
Commitments and contingencies | |||
Equity: | |||
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 21,691,926 shares and 19,629,403 shares at March 31, 2020 and December 31, 2019, respectively) | 22 | 20 | |
Additional paid-in capital | 45,485 | 43,111 | |
Statutory reserves | 2,607 | 2,607 | |
Accumulated deficit | (38,083) | (35,773) | |
Accumulated other comprehensive income | 1,576 | 1,505 | |
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity | 11,607 | 11,470 | |
Noncontrolling interests | (56) | (57) | |
Total equity | 11,551 | 11,413 | |
Total Liabilities and Equity | $ 18,494 | $ 18,551 | |
[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) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts receivable, allowance for doubtful accounts | $ 3,504 | $ 3,148 |
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) | 21,691,926 | 19,629,403 |
Common stock, shares outstanding (in shares) | 21,691,926 | 19,629,403 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Revenues | $ 4,384 | $ 8,567 |
Total revenues | 4,384 | 8,567 |
Cost of revenues | 3,485 | 8,125 |
Gross profit | 899 | 442 |
Operating expenses | ||
Sales and marketing expenses | 165 | 169 |
General and administrative expenses | 2,796 | 810 |
Research and development expenses | 214 | 201 |
Total operating expenses | 3,175 | 1,180 |
Loss from operations | (2,276) | (738) |
Other income/(expenses) | ||
Interest expense, net | (1) | (11) |
Other expenses | (1) | (2) |
Change in fair value of warrant liabilities | 46 | (350) |
Total other income/(expenses) | 44 | (363) |
Loss before income tax expense and noncontrolling interests | (2,232) | (1,101) |
Income tax expense | (78) | (39) |
Net loss | (2,310) | (1,140) |
Net loss attributable to noncontrolling interests | 2 | |
Net loss attributable to ChinaNet Online Holdings, Inc. | (2,310) | (1,138) |
Net loss | (2,310) | (1,140) |
Foreign currency translation gain/(loss) | 72 | (36) |
Comprehensive loss | (2,238) | (1,176) |
Comprehensive (income)/loss attributable to noncontrolling interests | (1) | 3 |
Comprehensive loss attributable to ChinaNet Online Holdings, Inc. | $ (2,239) | $ (1,173) |
Loss per common share | ||
Basic and diluted (in dollars per share) | $ (0.11) | $ (0.07) |
Weighted average number of common shares outstanding: | ||
Basic and diluted (in shares) | 20,397,406 | 16,410,543 |
Unrelated Parties [Member] | ||
Revenues | $ 4,371 | $ 8,560 |
Total revenues | 4,371 | 8,560 |
Related Parties [Member] | ||
Revenues | 13 | 7 |
Total revenues | $ 13 | $ 7 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 26 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | |
Cash flows from operating activities | |||
Net loss | $ (2,310) | $ (1,140) | |
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities | |||
Depreciation and amortization | 207 | 38 | |
Amortization of operating lease right-of-use assets | 3 | 84 | |
Share-based compensation expenses | 1,919 | 101 | |
Provision for allowances for doubtful accounts | 410 | 192 | |
Deferred taxes | (5) | 39 | |
Change in fair value of warrant liabilities | (46) | 350 | |
Changes in operating assets and liabilities | |||
Accounts receivable | (255) | (547) | |
Prepayment and deposit to suppliers | 2,236 | 22 | |
Due from related parties | 29 | 27 | |
Other current assets | (5) | 10 | |
Long-term prepayments | (1,125) | ||
Accounts payable | (147) | (1,833) | |
Advances from customers | 123 | 562 | |
Accrued payroll and other accruals | (34) | 114 | |
Other current liabilities | 319 | (115) | |
Taxes payable | 94 | 65 | |
Lease payment liability related to short-term leases | 37 | ||
Prepaid lease payment | (11) | ||
Net cash provided by/(used in) operating activities | 1,518 | (2,270) | |
Cash flows from investing activities | |||
Investment to an ownership investee company | (36) | ||
Short-term loan to an unrelated party | (815) | ||
Payment for blockchain platform applications development costs | (302) | $ (4,180) | |
Net cash used in investing activities | (1,117) | (36) | |
Cash flows from financing activities | |||
Proceeds from short-term bank loan | 445 | ||
Repayment of short-term bank loan | (430) | (445) | |
Net cash used in financing activities | (430) | ||
Effect of exchange rate fluctuation on cash and cash equivalents | (19) | 47 | |
Net decrease in cash and cash equivalents | (48) | (2,259) | |
Cash and cash equivalents at beginning of the period | 1,603 | 3,742 | |
Cash and cash equivalents at end of the period | 1,555 | 1,483 | $ 1,555 |
Supplemental disclosure of cash flow information | |||
Income taxes paid | |||
Interest expense paid | $ 2 | $ 13 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Statutory Reserves [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 16,382,543 | ||||||
Balance at Dec. 31, 2018 | $ 16 | $ 38,275 | $ 2,607 | $ (34,512) | $ 1,457 | $ (49) | $ 7,794 |
Share-based compensation in exchange for services from employees and directors (in shares) | 30,000 | ||||||
Share-based compensation in exchange for services from employees and directors | 13 | 13 | |||||
Net loss for the period | (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 |
Balance (in shares) at Dec. 31, 2019 | 19,629,403 | ||||||
Balance at Dec. 31, 2019 | $ 20 | 43,111 | 2,607 | (35,773) | 1,505 | (57) | 11,413 |
Share-based compensation in exchange for services from nonemployees (in shares) | 430,000 | ||||||
Share-based compensation in exchange for services from nonemployees | 477 | 477 | |||||
Share-based compensation in exchange for services from employees and directors (in shares) | 1,632,523 | ||||||
Share-based compensation in exchange for services from employees and directors | $ 2 | 1,897 | 1,899 | ||||
Net loss for the period | (2,310) | (2,310) | |||||
Foreign currency translation adjustment | 71 | 1 | 72 | ||||
Balance (in shares) at Mar. 31, 2020 | 21,691,926 | ||||||
Balance at Mar. 31, 2020 | $ 22 | $ 45,485 | $ 2,607 | $ (38,083) | $ 1,576 | $ (56) | $ 11,551 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Operations | 3 Months Ended |
Mar. 31, 2020 | |
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, O2O 2018, March 31, 2020, 11 |
Note 2 - Variable Interest Enti
Note 2 - Variable Interest Entities | 3 Months Ended |
Mar. 31, 2020 | |
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, 2020 December 31, 2019, March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 1,301 $ 699 Accounts receivable, net 2,384 2,876 Prepayment and deposit to suppliers 2,302 3,998 Due from related parties, net 51 81 Other current assets, net 9 6 Total current assets 6,047 7,660 Long-term investments 34 35 Operating lease right-of-use assets 9 12 Property and equipment, net 39 40 Intangible assets, net 20 25 Deferred tax assets, net 706 713 Total Assets $ 6,855 $ 8,485 Liabilities Current liabilities: Short-term bank loan $ - $ 430 Accounts payable 257 408 Advances from customers 1,601 2,006 Accrued payroll and other accruals 86 132 Taxes payable 2,539 2,568 Lease payment liabilities related to short-term leases 39 19 Other current liabilities 112 84 Total current liabilities 4,634 5,647 Total Liabilities $ 4,634 $ 5,647 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 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, 2020 2019, Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenues $ 2,936 $ 8,567 Cost of revenues (2,845 ) (8,125 ) Total operating expenses (744 ) (711 ) Net loss before allocation to noncontrolling interests (651 ) (322 ) |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
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, 2020 three March 31, 2020 2019 10 December 31, 2019, “2019 10 May 27, 2020. 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, 2020, three March 31, 2020 2019, three March 31, 2020 2019, not b) Going concern The Company incurred operating losses and may three March 31, 2020 US$2.31 US$1.14 three March 31, 2019. March 31, 2020, US$1.56 US$1.60 December 31, 2019. The Company does not twelve 19 first 2020 may may may not not may one The unaudited condensed consolidated financial statements as of March 31, 2020 March 31, 2020 not may may c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: March 31, 2020 December 31, 2019 Balance sheet items, except for equity accounts 7.0851 6.9762 Three Months Ended March 31, 2020 2019 Items in the statements of operations and comprehensive loss 6.9790 6.7468 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, 2020 December 31, 2019 Fair value measurement at reporting date using As of March 31, 2020 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 17) 61 - - 61 Fair value measurement at reporting date using As of December 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 17) 107 - - 107 g) Revenue recognition The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition: Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 1,988 6,725 --online advertising placements 948 1,831 --sales of effective sales lead information - 6 --data and technical services 300 5 Ecommerce O2O advertising and marketing services 503 - Technical solution services 645 - Total revenues 4,384 8,567 Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 3,739 8,561 Revenue recognized at a point in time 645 6 Total revenues 4,384 8,567 Contract costs For the three March 31, 2020 2019, not Contract balances The table below summarized the movement of the Company’s contract liabilities (advance from customers) for three March 31, 2020: Contract liabilities US$(’000) Balance as of January 1, 2020 2,006 Exchange translation adjustment (31 ) Revenue recognized from beginning contract liability balance (1,146 ) Advances received from customers related to unsatisfied performance obligations 1,275 Balance as of March 31, 2020 (Unaudited) 2,104 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi three March 31, 2020 2019. For the three March 31, 2020 2019, no h) 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, 2020 2019 US$0.21 US$0.20 i) Lease As of March 31, 2020, US$0.01 US$0.01 April 2020. For the three March 31, 2020 2019, US$0.05 US$0.04 US$0.09 Supplemental information related to operating leases (All amounts are presented in thousands of U.S. dollars): Three Months Ended March 31, 2020 2019 Operating cash flows used for operating leases - 93 Right-of-use assets obtained in exchange for new lease liabilities - 10 Weighted-average discount rate 6 % 6 % As of March 31, 2020 2019 Weighted-average remaining lease term (years) 0.96 1.96 |
Note 4 - Accounts Receivable, N
Note 4 - Accounts Receivable, Net | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounts Receivable Disclosure [Text Block] | 4. Accounts receivable, net March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Accounts receivable 6,574 6,408 Allowance for doubtful accounts (3,504 ) (3,148 ) Accounts receivable, net 3,070 3,260 All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of March 31, 2020 December 31, 2019, US$3.50 US$3.15 six six three March 31, 2020 2019, US$0.41 US$0.19 |
Note 5 - Prepayments and Deposi
Note 5 - Prepayments and Deposit to Suppliers | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Prepayments and Deposits to Suppliers Disclosure [Text Block] | 5. Prepayments and deposit to suppliers March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Deposits to advertising resources providers 1,311 1,315 Prepayments to advertising resources providers 2,329 4,361 Prepayment of license fee 796 1,062 Other deposits and prepayments 510 242 4,946 6,980 |
Note 6 - Due From Related Parti
Note 6 - Due From Related Parties, Net | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Due from Related Parties Disclosure [Text Block] | 6. Due from related parties, net March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”) 51 81 Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”) 169 172 220 253 Allowance for doubtful accounts (169 ) (172 ) Due from related parties, net 51 81 Related parties of the Company represented the Company’s direct or indirect unconsolidated investee companies and entities that the Company’s officers or directors can exercise significant influence. As of March 31, 2020 December 31, 2019, As of March 31, 2020 December 31, 2019, March 31, 2020 December 31, 2019, |
Note 7 - Other Current Assets,
Note 7 - Other Current Assets, Net | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 7. Other current assets, net March 31, 2020 December 31,2019 Gross Allowance for doubtful accounts Net Gross Allowance for doubtful accounts Net US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) (Unaudited) (Unaudited) Staff advances for business operations 16 - 16 11 - 11 Short-term loan to an unrelated party 815 - 815 - - - Overdue deposits 706 (706 ) - 717 (717 ) - Total 1,537 (706 ) 831 728 (717 ) 11 As of March 31, 2020, first 2020. As of March 31, 2020 December 31, 2019, RMB5 US$0.7 no March 31, 2020 December 31, 2019, |
Note 8 - Long-term Investments
Note 8 - Long-term Investments | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 8. Long-term investments As of March 31, 2020 December 31, 2019, RMB0.25 US$0.03 4.9% The Company measures this investment which do not |
Note 9 - Property and Equipment
Note 9 - Property and Equipment, Net | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property and equipment, net March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Vehicles 747 758 Office equipment 1,310 1,331 Electronic devices 923 937 Property and equipment, cost 2,980 3,026 Less: accumulated depreciation (2,905 ) (2,948 ) Property and equipment, net 75 78 Depreciation expenses for the three March 31, 2020 2019 US$2,000 US$33,000, |
Note 10 - Intangible Assets, Ne
Note 10 - Intangible Assets, Net | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. Intangible assets, net As of March 31, 2020 (Unaudited) Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$(’000) US$(’000) US$(’000) US$(’000) Intangible assets not subject to amortization: Domain name 1,363 - (1,363 ) - Intangible assets subject to amortization: Customer relationship 1,880 (1,880 ) - - Non-compete agreements 1,035 (563 ) (472 ) - Software technologies 289 (289 ) - - Intelligent marketing data service platform 4,557 (1,846 ) (2,711 ) - Internet safety, information exchange security and data encryption software 1,835 (413 ) (1,422 ) - Cloud video management system 1,341 (333 ) (1,008 ) - Cloud compute software technology 1,310 (888 ) (402 ) 20 Licensed products use right 1,207 (45 ) - 1,162 Other computer software 871 (355 ) - 516 Total $ 15,688 $ (6,612 ) $ (7,378 ) $ 1,698 As of December 31, 2019 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 1,385 - (1,385 ) - Intangible assets subject to amortization: Customer relationship 1,909 (1,909 ) - - Non-compete agreements 1,051 (571 ) (480 ) - Software technologies 294 (294 ) - - Intelligent marketing data service platform 4,629 (1,876 ) (2,753 ) - Internet safety, information exchange security and data encryption software 1,863 (419 ) (1,444 ) - Cloud video management system 1,362 (338 ) (1,024 ) - Cloud compute software technology 1,331 (898 ) (408 ) 25 Licensed products use right 1,202 (15 ) - 1,187 Other computer software 872 (185 ) - 687 Total $ 15,898 $ (6,505 ) $ (7,494 ) $ 1,899 Amortization expenses for the three March 31, 2020 2019 US$205,000 US$5,000, 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 6.27 March 31, 2020, no US$0.62 December 31, 2020, US$0.13 December 31, 2021, US$0.12 December 31, 2022 2024. |
Note 11 - Blockchain Software A
Note 11 - Blockchain Software Application Platform Development Costs | 3 Months Ended |
Mar. 31, 2020 | |
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$0.42 two March 31, 2020 December 31, 2019, 350 40 US$4.18 US$3.88 two May 2020, 2020. 19 first 2020, 1 2 According to the development contracts the Company signed with the counter parties, the Company will not no not may |
Note 12 - Long-term Prepayments
Note 12 - Long-term Prepayments | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Long-term Prepayments [Text Block] | 12. Long-term prepayments As of March 31, 2020, US$1.12 one US$0.22 one not one March 31, 2020. |
Note 13 - Short-term Bank Loan
Note 13 - Short-term Bank Loan and Credit Facility | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 13. Short-term bank loan and credit facility As of December 31, 2019, RMB5.0 US$0.7 January 2020. As of December 31, 2019, RMB3.0 US$0.43 January 2020. |
Note 14 - Accrued Payroll and O
Note 14 - Accrued Payroll and Other Accruals | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 14. Accrued payroll and other accruals March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Accrued payroll and staff welfare 128 173 Accrued operating expenses 396 318 524 491 |
Note 15 - Taxation
Note 15 - Taxation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. Taxation As of March 31, 2020 December 31, 2019, March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Turnover tax and surcharge payable 1,234 1,244 Enterprise income tax payable 2,027 1,970 Total taxes payable 3,261 3,214 For the three March 31, 2020 2019, Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Current (83 ) - Deferred 5 (39 ) Income tax expense (78 ) (39 ) The Company’s deferred tax assets as of March 31, 2020 December 31, 2019 March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Tax effect of net operating losses carried forward 9,578 9,160 Bad debts provision 794 743 Valuation allowance (9,666 ) (9,190 ) Deferred tax assets, net 706 713 The U.S. holding company has incurred aggregate NOLs of approximately US22.3 US$20.3 March 31, 2020 December 31, 2019, 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$23.9 US$23.6 March 31, 2020 December 31, 2019, 2030 The Company recorded approximately US$9.7 US$9.2 March 31, 2020 December 31, 2019, not not For the three March 31, 2020 2019, US$0.55 US$0.19 |
Note 16 - Long-term Borrowing F
Note 16 - Long-term Borrowing From a Director | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Long-Term Borrowing from Director Disclosure [Text Block] | 16. 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 17 - Warrant Liabilities
Note 17 - Warrant Liabilities | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 17. Warrant liabilities The Company consummated a registered director offering in January 2018 ( “2018 issued to the investors and the placement agent warrants to purchase up to 645,000 129,000 $6.60 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 $ 1.17 $ 0.95 $ 1.17 $ 0.95 Years to maturity 0.55 0.30 1.05 0.80 Risk-free interest rate 1.58 % 0.10 % 1.57 % 0.13 % Dividend yield - - - - Expected volatility 60 % 99 % 80 % 78 % Exercise Price * $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 Fair value of the warrant $ 0.11 $ 0.07 $ 0.28 $ 0.12 Warrant Liabilities (US$’000) $ 71 $ 45 $ 36 $ 16 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 Warrant Liabilities (US$’000) $ 503 $ 793 $ 103 $ 163 * On September 25, 2019, first 2018 $1.4927. Changes in fair value of warrant liabilities Three Months Ended March 31, 2020 ( As of March 31, 2020 As of December 31, 2019 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 45 71 (26 ) Placement agent warrants 16 36 (20 ) Warrant liabilities 61 107 (46 ) 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 Warrants issued and outstanding as of March 31, 2020 three Warrant Outstanding Warrant Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2020 774,000 0.63 $ 1.4927 774,000 0.63 $ 1.4927 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2020 (Unaudited) 774,000 0.38 $ 1.4927 774,000 0.38 $ 1.4927 |
Note 18 - Restricted Net Assets
Note 18 - Restricted Net Assets | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Restricted Assets Disclosure [Text Block] | 18. Restricted net assets As substantially 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 In accordance with 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, 2020 December 31, 2019, US$12.0 The current PRC Enterprise Income Tax (“EIT”) Law also imposes 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: l Foreign Exchange Administration Rules ( 1996 August 2008, l 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 converting 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 19 - Employee Defined Cont
Note 19 - Employee Defined Contribution Plan | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 19. 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$0.04 US$0.09 three March 31, 2020 2019, |
Note 20 - Concentration of Risk
Note 20 - Concentration of Risk | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 20. 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, 2020, 99% 1% Concentration of customers The following tables summarized the information about the Company’s concentration of customers for the three March 31, 2020 2019, Customer A Customer B Customer C Customer D Customer E Customer F Three Months Ended March 31, 2020 Revenues, customer concentration risk * * * * 15 % 11 % Three Months Ended March 31, 2019 Revenues, customer concentration risk 17 % * - - - - As of March 31, 2020 Accounts receivable, customer concentration risk 27 % 12 % 24 % 11 % - - As of December 31, 2019 Accounts receivable, customer concentration risk 57 % 13 % 12 % - - - * Less than 10%. - No Concentration of suppliers The following tables summarized the information about the Company’s concentration of suppliers for the three March 31, 2020 2019, Supplier A Supplier B Three Months Ended March 31, 2020 Cost of revenues, supplier concentration risk 71 % 11 % Three Months Ended March 31, 2019 Cost of revenues, supplier concentration risk 89 % - - No |
Note 21 - Commitments and Conti
Note 21 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 21. Commitments and contingencies In 2018, two third two US$4.92 March 31, 2020, US$4.18 December 31, 2020. The Company is currently not not may |
Note 22- Segment Reporting
Note 22- Segment Reporting | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 22. Segment reporting The Company follows ASC Topic 280 Previously, the Company had four 2020, O2O 2019, O2O 2020. 2019 2020. Three Months Ended March 31, 2020 ( Internet Ad Ecommerce Blockchain Corporate Inter- segment Total US$(‘000) US$(‘000) US$(‘000) US$(‘000) US$(‘000) US$(‘000) Revenues 3,236 503 - 645 - 4,384 Cost of revenues 3,110 375 - - - 3,485 Total operating expenses 1,022 4 1 2,148 (1) - 3,175 Depreciation and amortization expense included in total operating expenses 206 - - 1 - 207 Operating (loss)/income (896 ) 124 (1 ) (1,503 ) - (2,276 ) Change in fair value of warrant liabilities - - - 46 - 46 Net (loss)/income (893 ) 103 (1 ) (1,519 ) - (2,310 ) Expenditure for long-term assets - - 302 - - 302 Total assets-March 31, 2020 11,521 2,844 4,180 21,940 (21,991 ) 18,494 Total assets-December 31, 2019 13,332 2,075 3,885 21,338 (22,079 ) 18,551 ( 1 Including approximately US$1,919 Three Months Ended March 31, 2019 ( Internet Ad. Ecommerce Blockchain Corporate Inter- segment Total US$ 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 ) ( 1 Including approximately US$101 |
Note 23 - Loss Per Share
Note 23 - Loss Per Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 23. Loss per share Basic and diluted loss per share for each of the periods presented are calculated as follows (All amounts, except number of shares and per share data, are presented in thousands of U.S. dollars): Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) $ (2,310 ) $ (1,138 ) Weighted average number of common shares outstanding -Basic and diluted 20,397,406 16,410,543 Loss per share -Basic and diluted $ (0.11 ) $ (0.07 ) For the three March 31, 2020, not 774,000 755,216 For the three March 31, 2019, not 774,000 835,216 |
Note 24 - Share-based Compensat
Note 24 - Share-based Compensation Expenses | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 24. Share-based compensation expenses In February 2020, 2015 1.60 US$1.18 US$1.89 three March 31, 2020. In March 2020, 2015 0.03 one December 31, 2020. US$1.11 three March 31, 2020 US$0.01 In March 2020, 430,000 two February 2022. not US$1.11 US$0.48 three March 31, 2020 US$0.02 The table below summarized share-based compensation expenses recorded for the three March 31, 2020 2019, Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Sales and marketing expenses 122 - General and administrative expenses 1,651 101 Research and development expenses 146 - Total 1,919 101 The aggregate unrecognized share-based compensation expenses as of March 31, 2020 US$0.48 US$0.20 December 31, 2020, US$0.24 December 31, 2021 US$0.04 December 31, 2022. Options issued and outstanding as of March 31, 2020 three Option Outstanding Option Exercisable Number of underlying shares Weighted Weighted Number of underlying shares Weighted Weighted Balance, January 1, 2020 755,216 1.15 $ 2.43 755,216 1.15 $ 2.43 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2020 (Unaudited) 755,216 0.90 $ 2.43 755,216 0.90 $ 2.43 |
Note 25 - Subsequent Event
Note 25 - Subsequent Event | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 25. Subsequent event In May 2020, one expand its corporate business and technology headquarters to Southern China The Company primarily conducts its operations in the PRC. In January 2020, 19 first 2020. 19 19 one two March April 2020. 19 19 January, February March 2020 19. 19 no 19 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
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, 2020 three March 31, 2020 2019 10 December 31, 2019, “2019 10 May 27, 2020. 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, 2020, three March 31, 2020 2019, three March 31, 2020 2019, not |
Going Concern [Policy Text Block] | b) Going concern The Company incurred operating losses and may three March 31, 2020 US$2.31 US$1.14 three March 31, 2019. March 31, 2020, US$1.56 US$1.60 December 31, 2019. The Company does not twelve 19 first 2020 may may may not not may one The unaudited condensed consolidated financial statements as of March 31, 2020 March 31, 2020 not may may |
Consolidation, Policy [Policy Text Block] | c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. |
Use of Estimates, Policy [Policy Text Block] | d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: March 31, 2020 December 31, 2019 Balance sheet items, except for equity accounts 7.0851 6.9762 Three Months Ended March 31, 2020 2019 Items in the statements of operations and comprehensive loss 6.9790 6.7468 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, 2020 December 31, 2019 Fair value measurement at reporting date using As of March 31, 2020 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 17) 61 - - 61 Fair value measurement at reporting date using As of December 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 17) 107 - - 107 |
Revenue from Contract with Customer [Policy Text Block] | g) Revenue recognition The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition: Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 1,988 6,725 --online advertising placements 948 1,831 --sales of effective sales lead information - 6 --data and technical services 300 5 Ecommerce O2O advertising and marketing services 503 - Technical solution services 645 - Total revenues 4,384 8,567 Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 3,739 8,561 Revenue recognized at a point in time 645 6 Total revenues 4,384 8,567 Contract costs For the three March 31, 2020 2019, not Contract balances The table below summarized the movement of the Company’s contract liabilities (advance from customers) for three March 31, 2020: Contract liabilities US$(’000) Balance as of January 1, 2020 2,006 Exchange translation adjustment (31 ) Revenue recognized from beginning contract liability balance (1,146 ) Advances received from customers related to unsatisfied performance obligations 1,275 Balance as of March 31, 2020 (Unaudited) 2,104 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi three March 31, 2020 2019. For the three March 31, 2020 2019, no |
Research and Development Expense, Policy [Policy Text Block] | h) 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, 2020 2019 US$0.21 US$0.20 |
Lessee, Leases [Policy Text Block] | i) Lease As of March 31, 2020, US$0.01 US$0.01 April 2020. For the three March 31, 2020 2019, US$0.05 US$0.04 US$0.09 Supplemental information related to operating leases (All amounts are presented in thousands of U.S. dollars): Three Months Ended March 31, 2020 2019 Operating cash flows used for operating leases - 93 Right-of-use assets obtained in exchange for new lease liabilities - 10 Weighted-average discount rate 6 % 6 % As of March 31, 2020 2019 Weighted-average remaining lease term (years) 0.96 1.96 |
Note 2 - Variable Interest En_2
Note 2 - Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 1,301 $ 699 Accounts receivable, net 2,384 2,876 Prepayment and deposit to suppliers 2,302 3,998 Due from related parties, net 51 81 Other current assets, net 9 6 Total current assets 6,047 7,660 Long-term investments 34 35 Operating lease right-of-use assets 9 12 Property and equipment, net 39 40 Intangible assets, net 20 25 Deferred tax assets, net 706 713 Total Assets $ 6,855 $ 8,485 Liabilities Current liabilities: Short-term bank loan $ - $ 430 Accounts payable 257 408 Advances from customers 1,601 2,006 Accrued payroll and other accruals 86 132 Taxes payable 2,539 2,568 Lease payment liabilities related to short-term leases 39 19 Other current liabilities 112 84 Total current liabilities 4,634 5,647 Total Liabilities $ 4,634 $ 5,647 |
Financial Performance of VIEs [Table Text Block] | Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenues $ 2,936 $ 8,567 Cost of revenues (2,845 ) (8,125 ) Total operating expenses (744 ) (711 ) Net loss before allocation to noncontrolling interests (651 ) (322 ) |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Foreign Currency Exchange Rates [Table Text Block] | March 31, 2020 December 31, 2019 Balance sheet items, except for equity accounts 7.0851 6.9762 Three Months Ended March 31, 2020 2019 Items in the statements of operations and comprehensive loss 6.9790 6.7468 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair value measurement at reporting date using As of March 31, 2020 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) Warrant liabilities (Note 17) 61 - - 61 Fair value measurement at reporting date using As of December 31, 2019 Quoted Prices Significant Significant US$(’000) US$(’000) US$(’000) US$(’000) Warrant liabilities (Note 17) 107 - - 107 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 1,988 6,725 --online advertising placements 948 1,831 --sales of effective sales lead information - 6 --data and technical services 300 5 Ecommerce O2O advertising and marketing services 503 - Technical solution services 645 - Total revenues 4,384 8,567 Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Revenue recognized over time 3,739 8,561 Revenue recognized at a point in time 645 6 Total revenues 4,384 8,567 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Contract liabilities US$(’000) Balance as of January 1, 2020 2,006 Exchange translation adjustment (31 ) Revenue recognized from beginning contract liability balance (1,146 ) Advances received from customers related to unsatisfied performance obligations 1,275 Balance as of March 31, 2020 (Unaudited) 2,104 |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2020 2019 Operating cash flows used for operating leases - 93 Right-of-use assets obtained in exchange for new lease liabilities - 10 Weighted-average discount rate 6 % 6 % As of March 31, 2020 2019 Weighted-average remaining lease term (years) 0.96 1.96 |
Note 4 - Accounts Receivable,_2
Note 4 - Accounts Receivable, Net (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accounts Receivable [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Accounts receivable 6,574 6,408 Allowance for doubtful accounts (3,504 ) (3,148 ) Accounts receivable, net 3,070 3,260 |
Note 5 - Prepayments and Depo_2
Note 5 - Prepayments and Deposit to Suppliers (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Prepayments and Deposit to Suppliers [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Deposits to advertising resources providers 1,311 1,315 Prepayments to advertising resources providers 2,329 4,361 Prepayment of license fee 796 1,062 Other deposits and prepayments 510 242 4,946 6,980 |
Note 6 - Due From Related Par_2
Note 6 - Due From Related Parties, Net (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Due From Related Parties [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”) 51 81 Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”) 169 172 220 253 Allowance for doubtful accounts (169 ) (172 ) Due from related parties, net 51 81 |
Note 7 - Other Current Assets_2
Note 7 - Other Current Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Other Receivables [Table Text Block] | March 31, 2020 December 31,2019 Gross Allowance for doubtful accounts Net Gross Allowance for doubtful accounts Net US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) US$(’000) (Unaudited) (Unaudited) (Unaudited) Staff advances for business operations 16 - 16 11 - 11 Short-term loan to an unrelated party 815 - 815 - - - Overdue deposits 706 (706 ) - 717 (717 ) - Total 1,537 (706 ) 831 728 (717 ) 11 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment, Net (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Property and Equipment [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Vehicles 747 758 Office equipment 1,310 1,331 Electronic devices 923 937 Property and equipment, cost 2,980 3,026 Less: accumulated depreciation (2,905 ) (2,948 ) Property and equipment, net 75 78 |
Note 10 - Intangible Assets, _2
Note 10 - Intangible Assets, Net (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Finite and Indefinite-Lived Intangible Assets [Table Text Block] | As of March 31, 2020 (Unaudited) Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$(’000) US$(’000) US$(’000) US$(’000) Intangible assets not subject to amortization: Domain name 1,363 - (1,363 ) - Intangible assets subject to amortization: Customer relationship 1,880 (1,880 ) - - Non-compete agreements 1,035 (563 ) (472 ) - Software technologies 289 (289 ) - - Intelligent marketing data service platform 4,557 (1,846 ) (2,711 ) - Internet safety, information exchange security and data encryption software 1,835 (413 ) (1,422 ) - Cloud video management system 1,341 (333 ) (1,008 ) - Cloud compute software technology 1,310 (888 ) (402 ) 20 Licensed products use right 1,207 (45 ) - 1,162 Other computer software 871 (355 ) - 516 Total $ 15,688 $ (6,612 ) $ (7,378 ) $ 1,698 As of December 31, 2019 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 1,385 - (1,385 ) - Intangible assets subject to amortization: Customer relationship 1,909 (1,909 ) - - Non-compete agreements 1,051 (571 ) (480 ) - Software technologies 294 (294 ) - - Intelligent marketing data service platform 4,629 (1,876 ) (2,753 ) - Internet safety, information exchange security and data encryption software 1,863 (419 ) (1,444 ) - Cloud video management system 1,362 (338 ) (1,024 ) - Cloud compute software technology 1,331 (898 ) (408 ) 25 Licensed products use right 1,202 (15 ) - 1,187 Other computer software 872 (185 ) - 687 Total $ 15,898 $ (6,505 ) $ (7,494 ) $ 1,899 |
Note 14 - Accrued Payroll and_2
Note 14 - Accrued Payroll and Other Accruals (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Accrued payroll and staff welfare 128 173 Accrued operating expenses 396 318 524 491 |
Note 15 - Taxation (Tables)
Note 15 - Taxation (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule Of Taxes Payable [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Turnover tax and surcharge payable 1,234 1,244 Enterprise income tax payable 2,027 1,970 Total taxes payable 3,261 3,214 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Current (83 ) - Deferred 5 (39 ) Income tax expense (78 ) (39 ) |
Schedule Of Deferred Tax Assets [Table Text Block] | March 31, 2020 December 31, 2019 US$(’000) US$(’000) (Unaudited) Tax effect of net operating losses carried forward 9,578 9,160 Bad debts provision 794 743 Valuation allowance (9,666 ) (9,190 ) Deferred tax assets, net 706 713 |
Note 17 - Warrant Liabilities (
Note 17 - Warrant Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Warrant Liabilities [Table Text Block] | As of March 31, 2020 As of December 31, 2019 Change in Fair Value (gain)/loss US$’000 US$’000 US$’000 Fair value of the Warrants: Investor warrants 45 71 (26 ) Placement agent warrants 16 36 (20 ) Warrant liabilities 61 107 (46 ) As of March 31, 2019 As of December 31, 2018 Change in Fair Value (gain)/loss US$’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 |
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, 2020 774,000 0.63 $ 1.4927 774,000 0.63 $ 1.4927 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2020 (Unaudited) 774,000 0.38 $ 1.4927 774,000 0.38 $ 1.4927 |
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 $ 1.17 $ 0.95 $ 1.17 $ 0.95 Years to maturity 0.55 0.30 1.05 0.80 Risk-free interest rate 1.58 % 0.10 % 1.57 % 0.13 % Dividend yield - - - - Expected volatility 60 % 99 % 80 % 78 % Exercise Price * $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 Fair value of the warrant $ 0.11 $ 0.07 $ 0.28 $ 0.12 Warrant Liabilities (US$’000) $ 71 $ 45 $ 36 $ 16 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 Warrant Liabilities (US$’000) $ 503 $ 793 $ 103 $ 163 |
Note 20 - Concentration of Ri_2
Note 20 - Concentration of Risk (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customer A Customer B Customer C Customer D Customer E Customer F Three Months Ended March 31, 2020 Revenues, customer concentration risk * * * * 15 % 11 % Three Months Ended March 31, 2019 Revenues, customer concentration risk 17 % * - - - - As of March 31, 2020 Accounts receivable, customer concentration risk 27 % 12 % 24 % 11 % - - As of December 31, 2019 Accounts receivable, customer concentration risk 57 % 13 % 12 % - - - Supplier A Supplier B Three Months Ended March 31, 2020 Cost of revenues, supplier concentration risk 71 % 11 % Three Months Ended March 31, 2019 Cost of revenues, supplier concentration risk 89 % - |
Note 22- Segment Reporting (Tab
Note 22- Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Internet Ad Ecommerce Blockchain Corporate Inter- segment Total US$(‘000) US$(‘000) US$(‘000) US$(‘000) US$(‘000) US$(‘000) Revenues 3,236 503 - 645 - 4,384 Cost of revenues 3,110 375 - - - 3,485 Total operating expenses 1,022 4 1 2,148 (1) - 3,175 Depreciation and amortization expense included in total operating expenses 206 - - 1 - 207 Operating (loss)/income (896 ) 124 (1 ) (1,503 ) - (2,276 ) Change in fair value of warrant liabilities - - - 46 - 46 Net (loss)/income (893 ) 103 (1 ) (1,519 ) - (2,310 ) Expenditure for long-term assets - - 302 - - 302 Total assets-March 31, 2020 11,521 2,844 4,180 21,940 (21,991 ) 18,494 Total assets-December 31, 2019 13,332 2,075 3,885 21,338 (22,079 ) 18,551 Internet Ad. Ecommerce Blockchain Corporate Inter- segment 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 ) |
Note 23 - Loss Per Share (Table
Note 23 - Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) $ (2,310 ) $ (1,138 ) Weighted average number of common shares outstanding -Basic and diluted 20,397,406 16,410,543 Loss per share -Basic and diluted $ (0.11 ) $ (0.07 ) |
Note 24 - Share-based Compens_2
Note 24 - Share-based Compensation Expenses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2020 2019 US$(’000) US$(’000) (Unaudited) (Unaudited) Sales and marketing expenses 122 - General and administrative expenses 1,651 101 Research and development expenses 146 - Total 1,919 101 |
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, 2020 755,216 1.15 $ 2.43 755,216 1.15 $ 2.43 Granted/Vested - - Forfeited - - Exercised - - Balance, March 31, 2020 (Unaudited) 755,216 0.90 $ 2.43 755,216 0.90 $ 2.43 |
Note 2 - Variable Interest En_3
Note 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | |
Current assets: | ||||
Cash and cash equivalents | $ 1,555 | $ 1,603 | $ 1,600 | |
Accounts receivable, net | 3,070 | 3,260 | ||
Prepayment and deposit to suppliers | 4,946 | 6,980 | ||
Due from related parties, net | 51 | 81 | ||
Other current assets, net | 831 | 11 | ||
Total current assets | 10,453 | 11,935 | ||
Long-term investments | 34 | 35 | ||
Operating lease right-of-use assets | 9 | 12 | ||
Property and equipment, net | 75 | 78 | ||
Intangible assets, net | 1,698 | 1,899 | ||
Deferred tax assets, net | 706 | 713 | ||
Total assets | 18,494 | 18,551 | $ 18,551 | |
Current liabilities: | ||||
Short-term Bank Loans and Notes Payable | [1] | 430 | ||
Accounts payable | [1] | 257 | 408 | |
Advances from customers | [1] | 2,104 | 2,006 | |
Accrued payroll and other accruals | [1] | 524 | 491 | |
Taxes payable | [1] | 3,261 | 3,214 | |
Lease payment liabilities related to short-term leases | [1] | 170 | 136 | |
Other current liabilities | [1] | 442 | 221 | |
Total current liabilities | 6,819 | 7,013 | ||
Total Liabilities | 6,943 | 7,138 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Current assets: | ||||
Cash and cash equivalents | 1,301 | 699 | ||
Accounts receivable, net | 2,384 | 2,876 | ||
Prepayment and deposit to suppliers | 2,302 | 3,998 | ||
Due from related parties, net | 51 | 81 | ||
Other current assets, net | 9 | 6 | ||
Total current assets | 6,047 | 7,660 | ||
Long-term investments | 34 | 35 | ||
Operating lease right-of-use assets | 9 | 12 | ||
Property and equipment, net | 39 | 40 | ||
Intangible assets, net | 20 | 25 | ||
Deferred tax assets, net | 706 | 713 | ||
Total assets | 6,855 | 8,485 | ||
Current liabilities: | ||||
Short-term Bank Loans and Notes Payable | 430 | |||
Accounts payable | 257 | 408 | ||
Advances from customers | 1,601 | 2,006 | ||
Accrued payroll and other accruals | 86 | 132 | ||
Taxes payable | 2,539 | 2,568 | ||
Lease payment liabilities related to short-term leases | 39 | 19 | ||
Other current liabilities | 112 | 84 | ||
Total current liabilities | 4,634 | 5,647 | ||
Total Liabilities | $ 4,634 | $ 5,647 | ||
[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, 2020 | Mar. 31, 2019 | |
Revenues | $ 4,384 | $ 8,567 |
Cost of revenues | (3,485) | (8,125) |
Total operating expenses | (3,175) | (1,180) |
Net loss before allocation to noncontrolling interests | 2,310 | 1,140 |
Variable Interest Entity, Primary Beneficiary [Member] | ||
Revenues | 2,936 | 8,567 |
Cost of revenues | (2,845) | (8,125) |
Total operating expenses | (744) | (711) |
Net loss before allocation to noncontrolling interests | $ (651) | $ (322) |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Net Income (Loss) Attributable to Parent, Total | $ (2,310) | $ (1,138) | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 1,555 | 1,600 | $ 1,603 |
Research and Development Expense, Total | 214 | 201 | |
Operating Lease, Right-of-Use Asset | 9 | $ 12 | |
Operating Lease, Cost | 50 | $ 90 | |
Short-term Lease, Cost | 40 | ||
Other Current Assets [Member] | |||
Operating Lease, Right-of-Use Asset | 10 | ||
Other Current Liabilities [Member] | |||
Operating Lease, Liability, Total | $ 10 |
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, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Balance sheet items, except for equity accounts | 7.0851 | 6.9762 | |
Items in the statements of operations and comprehensive loss | 6.979 | 6.7468 |
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, 2020 | Dec. 31, 2019 |
Warrant liabilities (Note 17) | $ 61 | $ 107 |
Fair Value, Inputs, Level 1 [Member] | ||
Warrant liabilities (Note 17) | ||
Fair Value, Inputs, Level 2 [Member] | ||
Warrant liabilities (Note 17) | ||
Fair Value, Inputs, Level 3 [Member] | ||
Warrant liabilities (Note 17) | $ 61 | $ 107 |
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, 2020 | Mar. 31, 2019 | |
Revenues | $ 4,384 | $ 8,567 |
Search Engine Marketing and Data Service [Member] | ||
Revenues | 1,988 | 6,725 |
Online Advertising Placement [Member] | ||
Revenues | 948 | 1,831 |
Sales of Effective Sales Lead Information [Member] | ||
Revenues | 6 | |
Data and Technical Services [Member] | ||
Revenues | 300 | 5 |
Offline Advertising and Marketing Services [Member] | ||
Revenues | 503 | |
Technical Solution Services [Member] | ||
Revenues | 645 | |
Transferred over Time [Member] | ||
Revenues | 3,739 | 8,561 |
Transferred at Point in Time [Member] | ||
Revenues | $ 645 | $ 6 |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Contract liabilities (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2020USD ($) | |
Balance | $ 2,006 |
Exchange translation adjustment | (31) |
Revenue recognized from beginning contract liability balance | (1,146) |
Advances received from customers related to unsatisfied performance obligations | 1,275 |
Balance | $ 2,104 |
Note 3 - Summary of Significa_8
Note 3 - Summary of Significant Accounting Policies - Supplement Information Related to Operating Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating cash flows used for operating leases | $ 93 | |
Right-of-use assets obtained in exchange for new lease liabilities | $ 10 | |
Weighted-average discount rate | 6.00% | 6.00% |
Weighted-average remaining lease term (years) (Year) | 350 days | 1 year 350 days |
Note 4 - Accounts Receivable,_3
Note 4 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss, Current | $ 3,504 | $ 3,148 | |
Accounts Receivable, Credit Loss Expense (Reversal) | 410 | $ 192 | |
Internet Advertising and TV Advertising [Member] | |||
Accounts Receivable, Allowance for Credit Loss, Current | $ 3,500 | $ 3,150 | |
Number of Months Past Due (Month) | 180 days | ||
Accounts Receivable, Credit Loss Expense (Reversal) | $ 410 | $ 190 |
Note 4 - Accounts Receivable,_4
Note 4 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts receivable | $ 6,574 | $ 6,408 |
Allowance for doubtful accounts | (3,504) | (3,148) |
Accounts receivable, net | $ 3,070 | $ 3,260 |
Note 5 - Prepayments and Depo_3
Note 5 - Prepayments and Deposit to Suppliers, Net - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Prepayment and deposit to suppliers | $ 4,946 | $ 6,980 |
Deposits to TV Ad and Internet Ad Resources Providers [Member] | ||
Prepayment and deposit to suppliers | 1,311 | 1,315 |
Prepayment to TV Ad and Internet Ad Resources Providers [Member] | ||
Prepayment and deposit to suppliers | 2,329 | 4,361 |
Prepayment For Software System Development [Member] | ||
Prepayment and deposit to suppliers | 796 | 1,062 |
Other Deposits and Prepayments [Member] | ||
Prepayment and deposit to suppliers | $ 510 | $ 242 |
Note 6 - Due From Related Par_3
Note 6 - Due From Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Due from related parties, gross | $ 220 | $ 253 |
Allowance for doubtful accounts | (169) | (172) |
Due from related parties, net | 51 | 81 |
Zhong Wang Xi Yue Technology (Beijing) Co. Ltd [Member] | ||
Due from related parties, gross | 51 | 81 |
Guohua Shiji [Member] | ||
Due from related parties, gross | $ 169 | $ 172 |
Note 7 - Other Current Assets_3
Note 7 - Other Current Assets, Net (Details Textual) ¥ in Millions, $ in Millions | Mar. 31, 2020USD ($) | Mar. 31, 2020CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0.7 | ¥ 5 | $ 0.7 | ¥ 5 |
Note 7 - Other Receivables, Net
Note 7 - Other Receivables, Net - Summary of Other Receivables (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Other receivables, gross | $ 1,537 | $ 728 |
Allowance for doubtful accounts | (706) | (717) |
Other receivables, net | 831 | 11 |
Staff Advances for Business Operations [Member] | ||
Other receivables, gross | 16 | 11 |
Allowance for doubtful accounts | ||
Other receivables, net | 16 | 11 |
Loan to Unrelated Party [Member] | ||
Other receivables, gross | 815 | |
Allowance for doubtful accounts | ||
Other receivables, net | 815 | |
Overdue Deposits [Member] | ||
Other receivables, gross | 706 | 717 |
Allowance for doubtful accounts | (706) | (717) |
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, 2020USD ($) | Mar. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) |
Equity Securities without Readily Determinable Fair Value, Amount | $ 30 | ¥ 250 | ¥ 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, 2020 | Mar. 31, 2019 | |
Depreciation, Total | $ 2,000 | $ 33,000 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Property and equipment, gross | $ 2,980 | $ 3,026 |
Less: accumulated depreciation | (2,905) | (2,948) |
Property and equipment, net | 75 | 78 |
Vehicles [Member] | ||
Property and equipment, gross | 747 | 758 |
Office Equipment [Member] | ||
Property and equipment, gross | 1,310 | 1,331 |
Electronic Devices [Member] | ||
Property and equipment, gross | $ 923 | $ 937 |
Note 10 - Intangible Assets, _3
Note 10 - Intangible Assets, Net (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Amortization of Intangible Assets, Total | $ 205,000 | $ 5,000 |
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years 98 days | |
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year | $ 620,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 130,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 120,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Four | 120,000 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Five | $ 120,000 |
Note 10 - Intangible Assets, _4
Note 10 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Finite-lived intangible assets | $ 15,688 | $ 15,898 |
Finite-lived intangible assets, Accumulated amortization | (6,612) | (6,505) |
Finite-lived intangible assets, Impairment | (7,378) | (7,494) |
Intangible assets, net | 1,698 | 1,899 |
Customer Relationships [Member] | ||
Finite-lived intangible assets | 1,880 | 1,909 |
Finite-lived intangible assets, Accumulated amortization | (1,880) | (1,909) |
Finite-lived intangible assets, Impairment | ||
Intangible assets, net | ||
Noncompete Agreements [Member] | ||
Finite-lived intangible assets | 1,035 | 1,051 |
Finite-lived intangible assets, Accumulated amortization | (563) | (571) |
Finite-lived intangible assets, Impairment | (472) | (480) |
Intangible assets, net | ||
Software Technologies [Member] | ||
Finite-lived intangible assets | 289 | 294 |
Finite-lived intangible assets, Accumulated amortization | (289) | (294) |
Finite-lived intangible assets, Impairment | ||
Intangible assets, net | ||
Intelligent Marketing Data Service Platform [Member] | ||
Finite-lived intangible assets | 4,557 | 4,629 |
Finite-lived intangible assets, Accumulated amortization | (1,846) | (1,876) |
Finite-lived intangible assets, Impairment | (2,711) | (2,753) |
Intangible assets, net | ||
Internet Safety, Information Exchange Security and Data Encryption Software [Member] | ||
Finite-lived intangible assets | 1,835 | 1,863 |
Finite-lived intangible assets, Accumulated amortization | (413) | (419) |
Finite-lived intangible assets, Impairment | (1,422) | (1,444) |
Intangible assets, net | ||
Computer Software, Cloud Video Management System [Member] | ||
Finite-lived intangible assets | 1,341 | 1,362 |
Finite-lived intangible assets, Accumulated amortization | (333) | (338) |
Finite-lived intangible assets, Impairment | (1,008) | (1,024) |
Intangible assets, net | ||
Cloud-Computing Based Software Platforms [Member] | ||
Finite-lived intangible assets | 1,310 | 1,331 |
Finite-lived intangible assets, Accumulated amortization | (888) | (898) |
Finite-lived intangible assets, Impairment | (402) | (408) |
Intangible assets, net | 20 | 25 |
Licensing Agreements [Member] | ||
Finite-lived intangible assets | 1,207 | 1,202 |
Finite-lived intangible assets, Accumulated amortization | (45) | (15) |
Finite-lived intangible assets, Impairment | ||
Intangible assets, net | 1,162 | 1,187 |
Other Computer Software [Member] | ||
Finite-lived intangible assets | 871 | 872 |
Finite-lived intangible assets, Accumulated amortization | (355) | (185) |
Finite-lived intangible assets, Impairment | ||
Intangible assets, net | 516 | 687 |
Domain Name [Member] | ||
Domain name | 1,363 | 1,385 |
Domain name, Impairment | $ (1,363) | $ (1,385) |
Note 11 - Blockchain Software_2
Note 11 - Blockchain Software Application Platform Development Costs (Details Textual) $ in Thousands, ¥ in Millions | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2018CNY (¥) | Feb. 28, 2018USD ($) |
Capitalized Cost of Blockchain Technology Based Applications Development Costs | $ 4,180 | $ 3,880 | ||||
Contract to Develop Blockchain Technology Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 4,920 | $ 4,500 | ||||
Contract to Develop Social Network Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 420 | ¥ 3 |
Note 12 - Long-term Prepaymen_2
Note 12 - Long-term Prepayments (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Increase (Decrease) in Prepaid Expense | $ 1,344 | |
Advertising Resource Supplier [Member] | ||
Increase (Decrease) in Prepaid Expense | 1,120 | |
Professional Service Supplier [Member] | ||
Increase (Decrease) in Prepaid Expense | $ 220 |
Note 13 - Short-term Bank Loa_2
Note 13 - Short-term Bank Loan and Credit Facility (Details Textual) $ in Thousands, ¥ in Millions | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | |
Short-term Bank Loans and Notes Payable | [1] | $ 430 | ||
Revolving Credit Facility [Member] | Loans Payable [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | 700 | ¥ 5 | ||
Short-term Bank Loans and Notes Payable | $ 430 | ¥ 3 | ||
[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 - Accrued Payroll and_3
Note 14 - Accrued Payroll and Other Accruals - Accrued Payroll and Other Accruals (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Accrued payroll and other accruals | [1] | $ 524 | $ 491 |
Accrued Payroll and Staff Welfare [Member] | |||
Accrued payroll and other accruals | 128 | 173 | |
Accrued Operating Expenses [Member] | |||
Accrued payroll and other accruals | $ 396 | $ 318 | |
[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 15 - Taxation (Details Tex
Note 15 - Taxation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Operating Loss Carryforwards, Total | $ 22,300 | $ 20,300 | |
Operating Loss Carryforwards, Taxable Income Deduction Limitations | 80.00% | ||
Deferred Tax Assets, Valuation Allowance, Total | 9,666 | $ 9,190 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 550 | $ 190 | |
PRC Subsidiary And VIE's [Member] | |||
Operating Loss Carryforwards, Total | $ 23,900 | $ 23,600 |
Note 15 - Taxation - Taxes Paya
Note 15 - Taxation - Taxes Payable (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | |
Turnover tax and surcharge payable | $ 1,234 | $ 1,244 | |
Enterprise income tax payable | 2,027 | 1,970 | |
Total taxes payable | [1] | $ 3,261 | $ 3,214 |
[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 15 - Taxation - Income Tax
Note 15 - Taxation - Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Current | $ (83) | |
Deferred | 5 | (39) |
Income tax expense | $ (78) | $ (39) |
Note 15 - Taxation - Deferred T
Note 15 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Tax effect of net operating losses carried forward | $ 9,578 | $ 9,160 |
Bad debts provision | 794 | 743 |
Valuation allowance | (9,666) | (9,190) |
Deferred tax assets, net | $ 706 | $ 713 |
Note 17 - Warrant Liabilities_2
Note 17 - Warrant Liabilities (Details Textual) - $ / shares | Sep. 25, 2019 | Jan. 17, 2018 |
Investor Warrants [Member] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 645,000 | |
Placement Agent Warrants [Member] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 129,000 | |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.60 | |
Warrants Issued January 17, 2018 Containing Full Ratchet Price Protection [Member] | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.4927 |
Note 17 - Warrant Liabilities -
Note 17 - Warrant Liabilities - Fair Value of Warrants (Details) $ in Thousands | Mar. 31, 2020USD ($)yr | Dec. 31, 2019USD ($)yr | Mar. 31, 2019USD ($)yr | Dec. 31, 2018USD ($)yr | ||
Warrant Liabilities (US$’000) | $ 61 | $ 107 | $ 956 | $ 606 | ||
Investor Warrants [Member] | ||||||
Warrant Liabilities (US$’000) | 45 | 71 | 793 | 503 | ||
Placement Agent Warrants [Member] | ||||||
Warrant Liabilities (US$’000) | $ 16 | $ 36 | $ 163 | $ 103 | ||
Measurement Input, Share Price [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.95 | 1.17 | 1.95 | 1.34 | ||
Measurement Input, Share Price [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.95 | 1.17 | 1.95 | 1.34 | ||
Measurement Input, Expected Term [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | yr | 0.3 | 0.55 | 1.3 | 1.55 | ||
Measurement Input, Expected Term [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | yr | 0.8 | 1.05 | 1.8 | 2.05 | ||
Measurement Input, Risk Free Interest Rate [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.001 | 0.0158 | 0.0227 | 0.025 | ||
Measurement Input, Risk Free Interest Rate [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.0013 | 0.0157 | 0.0227 | 0.025 | ||
Measurement Input, Expected Dividend Rate [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | ||||||
Measurement Input, Expected Dividend Rate [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | ||||||
Measurement Input, Price Volatility [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.99 | 0.6 | 2.16 | 1.99 | ||
Measurement Input, Price Volatility [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.78 | 0.8 | 1.87 | 1.76 | ||
Measurement Input, Exercise Price [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | 1.4927 | [1] | 1.4927 | [1] | 6.6 | 6.6 |
Measurement Input, Exercise Price [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | 1.4927 | [1] | 1.4927 | [1] | 6.6 | 6.6 |
Measurement Input, Quoted Price [Member] | Investor Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.07 | 0.11 | 1,230 | 780 | ||
Measurement Input, Quoted Price [Member] | Placement Agent Warrants [Member] | ||||||
Fair value of the warrants measurement input | 0.12 | 0.28 | 1,260 | 800 | ||
[1] | On September 25, 2019, as a result of the close on the first half of a private placement with a selected group of investors, the exercise price of the warrants issued in the 2018 Financing that contain the "full ratchet" price protection in the event of subsequent issuances below the applicable exercise price (the "Down round feature") was adjusted to $1.4927. |
Note 17 - Warrant Liabilities_3
Note 17 - Warrant Liabilities - Warrant Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Warrant Liabilities (US$’000) | $ 61 | $ 956 | $ 107 | $ 606 |
Change in fair value of warrants | (46) | 350 | ||
Investor Warrants [Member] | ||||
Warrant Liabilities (US$’000) | 45 | 793 | 71 | 503 |
Change in fair value of warrants | (26) | 290 | ||
Placement Agent Warrants [Member] | ||||
Warrant Liabilities (US$’000) | 16 | 163 | $ 36 | $ 103 |
Change in fair value of warrants | $ (20) | $ 60 |
Note 17 - Warrant Liabilities_4
Note 17 - Warrant Liabilities - Warrant Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Balance (in shares) | 774,000 | |
Weighted average remaining contractual life (Year) | 138 days | 229 days |
Weighted average exercise price (in dollars per share) | $ 1.4927 | |
Exercisable (in shares) | 774,000 | |
Exercisable, weighted average remaining contractual life (Year) | 138 days | 229 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.4927 | |
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) | $ 1.4927 | $ 1.4927 |
Exercisable (in shares) | 774,000 | 774,000 |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.4927 | $ 1.4927 |
Note 18 - Restricted Net Asse_2
Note 18 - Restricted Net Assets (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Mar. 31, 2020 | |
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 19 - Employee Defined Co_2
Note 19 - Employee Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Defined Contribution Plan, Cost | $ 40 | $ 90 |
Note 20 - Concentration of Ri_3
Note 20 - Concentration of Risk (Details Textual) | Mar. 31, 2020 |
CHINA | |
Percent of Cash and Cash Equivalents Held by Major Financial Institutions | 99.00% |
UNITED STATES | |
Percent of Cash and Cash Equivalents Held by Major Financial Institutions | 1.00% |
Note 20 - Concentration of Ri_4
Note 20 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||||
Concentration risk | [1] | 17.00% | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||||
Concentration risk | [1] | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||||
Concentration risk | [1] | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer D [Member] | |||||
Concentration risk | [1] | ||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer E [Member] | |||||
Concentration risk | [1] | 15.00% | |||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer F [Member] | |||||
Concentration risk | [1] | 11.00% | |||
Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier A [Member] | |||||
Concentration risk | 71.00% | 89.00% | |||
Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier B [Member] | |||||
Concentration risk | 11.00% | [1] | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | |||||
Concentration risk | 27.00% | 57.00% | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | |||||
Concentration risk | 12.00% | [1] | 13.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member] | |||||
Concentration risk | 24.00% | [1] | 12.00% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer D [Member] | |||||
Concentration risk | 11.00% | [1] | |||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer E [Member] | |||||
Concentration risk | [1] | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer F [Member] | |||||
Concentration risk | [1] | ||||
[1] | Less than 10%. |
Note 21 - Commitments and Con_2
Note 21 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 26 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Dec. 31, 2018 | Feb. 28, 2018 | |
Payment for Blockchain Technology Based Applications Development Costs | $ 302 | $ 4,180 | |||
Contract to Develop Blockchain Technology Based Applications [Member] | |||||
Application Development Contracts, Contract Amount | $ 4,920 | $ 4,500 |
Note 22- Segment Reporting (Det
Note 22- Segment Reporting (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2019 | |
Number of Reportable Segments | 4 | ||
Share-based Payment Arrangement, Expense | $ 1,919 | $ 101 |
Note 22 - Segment Reporting - S
Note 22 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | ||
Revenues | $ 4,384 | $ 8,567 | ||
Cost of revenues | 3,485 | 8,125 | ||
Total operating expenses | 3,175 | 1,180 | ||
Depreciation and amortization expense included in total operating expenses | 207 | 38 | ||
Operating (loss)/income | (2,276) | (738) | ||
Change in fair value of warrant liabilities | 46 | (350) | ||
Net (loss)/income | (2,310) | (1,140) | ||
Expenditure for long-term assets | 302 | |||
Total assets | 18,494 | 18,551 | $ 18,551 | |
Corporate, Non-Segment [Member] | ||||
Revenues | 645 | |||
Cost of revenues | ||||
Total operating expenses | 2,148 | 452 | [1] | |
Depreciation and amortization expense included in total operating expenses | 1 | 15 | ||
Operating (loss)/income | (1,503) | (452) | ||
Change in fair value of warrant liabilities | 46 | (350) | ||
Net (loss)/income | (1,519) | (801) | ||
Expenditure for long-term assets | ||||
Total assets | 21,940 | 21,338 | ||
Intersegment Eliminations [Member] | ||||
Revenues | ||||
Cost of revenues | ||||
Total operating expenses | ||||
Depreciation and amortization expense included in total operating expenses | ||||
Operating (loss)/income | ||||
Change in fair value of warrant liabilities | ||||
Net (loss)/income | ||||
Expenditure for long-term assets | ||||
Total assets | (21,991) | (22,079) | ||
Internet Ad [Member] | Operating Segments [Member] | ||||
Revenues | 3,236 | 8,567 | ||
Cost of revenues | 3,110 | 8,125 | ||
Total operating expenses | 1,022 | 705 | ||
Depreciation and amortization expense included in total operating expenses | 206 | 23 | ||
Operating (loss)/income | (896) | (263) | ||
Change in fair value of warrant liabilities | ||||
Net (loss)/income | (893) | (315) | ||
Expenditure for long-term assets | ||||
Total assets | 11,521 | 13,332 | ||
Ecommerce O2O Ad and Marketing Services [Member] | Operating Segments [Member] | ||||
Revenues | 503 | |||
Cost of revenues | 375 | |||
Total operating expenses | 4 | 18 | ||
Depreciation and amortization expense included in total operating expenses | ||||
Operating (loss)/income | 124 | (18) | ||
Change in fair value of warrant liabilities | ||||
Net (loss)/income | 103 | (19) | ||
Expenditure for long-term assets | ||||
Total assets | 2,844 | 2,075 | ||
Blockchain Technology [Member] | Operating Segments [Member] | ||||
Revenues | ||||
Cost of revenues | ||||
Total operating expenses | 1 | 5 | ||
Depreciation and amortization expense included in total operating expenses | ||||
Operating (loss)/income | (1) | (5) | ||
Change in fair value of warrant liabilities | ||||
Net (loss)/income | (1) | (5) | ||
Expenditure for long-term assets | 302 | |||
Total assets | $ 4,180 | $ 3,885 | ||
[1] | Including approximately US$101,000 share-based compensation expenses. |
Note 23 - Loss Per Share (Detai
Note 23 - Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 774,000 | 774,000 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 755,216 | 835,216 |
Note 23 - Loss Per Share - Basi
Note 23 - Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share) | $ (2,310) | $ (1,138) |
Weighted average number of common shares outstanding -Basic and diluted (in shares) | 20,397,406 | 16,410,543 |
Loss per share -Basic and diluted (in dollars per share) | $ (0.11) | $ (0.07) |
Note 24 - Share-based Compens_3
Note 24 - Share-based Compensation Expenses (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Feb. 28, 2020 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share Price (in dollars per share) | $ 1.11 | |||||
Share-based Payment Arrangement, Expense | $ 1,919 | $ 101 | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 480 | |||||
Forecast [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 40 | $ 240 | $ 200 | |||
Management Consulting and Advisor Service Providers [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 20 | |||||
Restricted Stock [Member] | Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 430,000 | |||||
Share Price (in dollars per share) | $ 1.11 | |||||
Management Consulting and Advisor Service Term (Year) | 2 years | |||||
Restricted Stock [Member] | Management Consulting and Advisor Service Providers [Member] | ||||||
Issuance of Stock and Warrants for Services or Claims | $ 480 | |||||
The 2015 Omnibus Securities and Incentive Plan [Member] | Restricted Stock [Member] | ||||||
Share-based Payment Arrangement, Expense | 10 | |||||
The 2015 Omnibus Securities and Incentive Plan [Member] | Restricted Stock [Member] | Management and Employees [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,600,000 | |||||
Share Price (in dollars per share) | $ 1.18 | |||||
Share-based Payment Arrangement, Expense | $ 1,890 | |||||
The 2015 Omnibus Securities and Incentive Plan [Member] | Restricted Stock [Member] | Unrelated Service Provider [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 30,000 |
Note 24 - Share-based Compens_4
Note 24 - Share-based Compensation Expenses - Share-based Compensation Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Share-based Compensation expenses | $ 1,919 | $ 101 |
Selling and Marketing Expense [Member] | ||
Share-based Compensation expenses | 122 | |
General and Administrative Expense [Member] | ||
Share-based Compensation expenses | 1,651 | 101 |
Research and Development Expense [Member] | ||
Share-based Compensation expenses | $ 146 |
Note 24 - Share-based Compens_5
Note 24 - Share-based Compensation Expenses - Options Issued and Outstanding (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Options outstanding, number of underlying shares (in shares) | 755,216 | |
Options outstanding, weighted average remaining contractual life (Year) | 328 days | 1 year 54 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.43 | |
Option exercisable, number of underlying shares (in shares) | 755,216 | |
Option exercisable, weighted average remaining contractual life (Year) | 328 days | 1 year 54 days |
Option exercisable, weighted average exercise price (in dollars per share) | $ 2.43 | |
Options outstanding, granted/vested (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) | 755,216 | 755,216 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 2.43 | $ 2.43 |
Option exercisable, number of underlying shares (in shares) | 755,216 | 755,216 |
Option exercisable, weighted average exercise price (in dollars per share) | $ 2.43 | $ 2.43 |