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 |