Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Nov. 13, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | ZW Data Action Technologies 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) | 21,741,926 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2020 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, par value $0.001 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | ||
Current assets | ||||
Cash and cash equivalents * | $ 500,000 | [1] | $ 1,603,000 | |
Accounts receivable, net of allowance for doubtful accounts of $3,996 and $3,148, respectively * | [1] | 2,282,000 | 3,260,000 | |
Prepayment and deposit to suppliers * | [1] | 6,301,000 | 6,980,000 | |
Due from related parties, net * | [1] | 58,000 | 81,000 | |
Other current assets, net * | [1] | 961,000 | 11,000 | |
Total current assets | 10,102,000 | 11,935,000 | ||
Long-term investments * | [1] | 64,000 | 35,000 | |
Operating lease right-of-use assets * | [1] | 4,000 | 12,000 | |
Property and equipment, net * | [1] | 74,000 | 78,000 | |
Intangible assets, net * | [1] | 1,288,000 | 1,899,000 | |
Blockchain platform applications development costs | 4,189,000 | 3,879,000 | ||
Long-term prepayments | 474,000 | |||
Deferred tax assets, net * | [1] | 815,000 | 713,000 | |
Total Assets | 17,010,000 | 18,551,000 | ||
Current liabilities: | ||||
Short-term bank loan | [1] | 430,000 | ||
Accounts payable | [1] | 552,000 | 408,000 | |
Advance from customers | [1] | 2,822,000 | 2,006,000 | |
Accrued payroll and other accruals | [1] | 442,000 | 491,000 | |
Taxes payable | [1] | 3,290,000 | 3,214,000 | |
Lease payment liability related to short-term leases | [1] | 222,000 | 136,000 | |
Other current liabilities | [1] | 325,000 | 221,000 | |
Warrant liabilities | 103,000 | 107,000 | ||
Total current liabilities | 7,756,000 | 7,013,000 | ||
Long-term liabilities: | ||||
Long-term borrowing from a director | 129,000 | 125,000 | ||
Total Liabilities | 7,885,000 | 7,138,000 | ||
Commitments and contingencies | ||||
Equity: | ||||
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 21,741,926 shares and 19,629,403 shares at September 30, 2020 and December 31, 2019, respectively) | 22,000 | 20,000 | ||
Additional paid-in capital | 45,569,000 | 43,111,000 | ||
Statutory reserves | 2,607,000 | 2,607,000 | ||
Accumulated deficit | (40,384,000) | (35,773,000) | ||
Accumulated other comprehensive income | 1,371,000 | 1,505,000 | ||
Total ZW Data Action Technologies Inc.’s stockholders’ equity | 9,185,000 | 11,470,000 | ||
Noncontrolling interests | (60,000) | (57,000) | ||
Total equity | 9,125,000 | 11,413,000 | ||
Total Liabilities and Equity | $ 17,010,000 | $ 18,551,000 | ||
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, 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 | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts receivable, allowance for doubtful account | $ 3,996 | $ 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) | 21,741,926 | 19,629,403 |
Common stock, shares outstanding (in shares) | 21,741,926 | 19,629,403 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 12,304 | $ 15,508 | $ 27,104 | $ 39,528 |
Total revenues | 12,304 | 15,508 | 27,104 | 39,528 |
Cost of revenues | 12,945 | 14,616 | 26,548 | 37,828 |
Gross profit/(loss) | (641) | 892 | 556 | 1,700 |
Operating expenses | ||||
Sales and marketing expenses | 58 | 111 | 293 | 461 |
General and administrative expenses | 592 | 817 | 4,520 | 2,875 |
Research and development expenses | 113 | 239 | 443 | 599 |
Total operating expenses | 763 | 1,167 | 5,256 | 3,935 |
Loss from operations | (1,404) | (275) | (4,700) | (2,235) |
Other income (expenses) | ||||
Interest expense, net | (1) | 10 | 33 | |
Other expenses | (21) | (2) | (4) | (6) |
Change in fair value of warrant liabilities | (64) | (120) | 4 | 351 |
Total other income | (84) | (132) | 312 | |
Loss before income tax benefit and noncontrolling interests | (1,488) | (407) | (4,700) | (1,923) |
Income tax benefit | 155 | 16 | 87 | 10 |
Net loss | (1,333) | (391) | (4,613) | (1,913) |
Net loss attributable to noncontrolling interests | 3 | 2 | 8 | |
Net loss attributable to ZW Data Action Technologies Inc. | (1,333) | (388) | (4,611) | (1,905) |
Net loss | (1,333) | (391) | (4,613) | (1,913) |
Foreign currency translation (loss)/gain | (203) | 73 | (135) | 97 |
Comprehensive loss | (1,536) | (318) | (4,748) | (1,816) |
Comprehensive loss attributable to noncontrolling interests | 2 | 1 | 3 | 6 |
Comprehensive loss attributable to ZW Data Action Technologies Inc. | $ (1,534) | $ (317) | $ (4,745) | $ (1,810) |
Loss per common share | ||||
Basic and diluted (in dollars per share) | $ (0.06) | $ (0.02) | $ (0.22) | $ (0.12) |
Weighted average number of common shares outstanding: | ||||
Basic and diluted (in shares) | 21,720,259 | 16,517,440 | 21,271,301 | 16,447,233 |
Unrelated Parties [Member] | ||||
Revenues | $ 12,300 | $ 15,113 | $ 27,086 | $ 39,025 |
Total revenues | 12,300 | 15,113 | 27,086 | 39,025 |
Related Parties [Member] | ||||
Revenues | 4 | 395 | 18 | 503 |
Total revenues | $ 4 | $ 395 | $ 18 | $ 503 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 33 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | |
Cash flows from operating activities | |||||||
Net loss | $ (1,333) | $ (391) | $ (3,280) | $ (1,522) | $ (4,613) | $ (1,913) | |
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities | |||||||
Depreciation and amortization | 622 | 66 | |||||
Amortization of operating lease right-of-use assets | 7 | 88 | |||||
Share-based compensation expenses | 2,066 | 307 | |||||
Provision for allowances for doubtful accounts | 751 | 445 | |||||
Deferred taxes | (87) | (10) | |||||
Change in fair value of warrant liabilities | 64 | 120 | (4) | (351) | |||
Changes in operating assets and liabilities | |||||||
Accounts receivable | 254 | (289) | |||||
Prepayment and deposit to suppliers | 1,077 | (5,191) | |||||
Due from related parties | 24 | 226 | |||||
Other current assets | (5) | 11 | |||||
Long-term prepayments | (375) | ||||||
Accounts payable | 137 | (1,946) | |||||
Accrued payroll and other accruals | 55 | 242 | |||||
Lease payment liability related to short-term leases | 81 | 180 | |||||
Other current liabilities | (38) | 291 | |||||
Taxes payable | 8 | 123 | |||||
Prepaid lease payment | (9) | (10) | |||||
Net cash provided by/(used in) operating activities | 595 | (4,055) | |||||
Cash flows from investing activities | |||||||
Investment to investee entities | (27) | (36) | |||||
Short-term loan to an unrelated party | (944) | ||||||
Payment for blockchain platform applications development costs | (302) | $ (4,190) | |||||
Prepayment for software system development | (760) | ||||||
Net cash used in investing activities | (1,273) | (796) | |||||
Cash flows from financing activities | |||||||
Proceeds from issuance of common stock (net of cash offering cost of US$8) | 2,393 | ||||||
Proceeds from short-term bank loan | 438 | ||||||
Repayment of short-term bank loan | (429) | (875) | |||||
Net cash (used in)/provided by financing activities | (429) | 1,956 | |||||
Effect of exchange rate fluctuation | 4 | (10) | |||||
Net decrease in cash and cash equivalents | (1,103) | (2,905) | |||||
Cash and cash equivalents at beginning of the period | $ 1,603 | $ 3,742 | 1,603 | 3,742 | |||
Cash and cash equivalents at end of the period | $ 500 | $ 837 | 500 | 837 | $ 500 | ||
Supplemental disclosure of cash flow information | |||||||
Income taxes paid | |||||||
Interest expense paid | 2 | 36 | |||||
Unrelated Parties [Member] | |||||||
Changes in operating assets and liabilities | |||||||
Advance from customers | 754 | 4,151 | |||||
Related Parties [Member] | |||||||
Changes in operating assets and liabilities | |||||||
Advance from customers | $ 9 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) $ in Thousands | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Issuance of common stock, cost | $ 8 |
Condensed Consolidated Statem_4
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 | 26 | 26 | |||||
Net loss for the period | (1,517) | (5) | (1,522) | ||||
Foreign currency translation adjustment | 24 | 24 | |||||
Balance (in shares) at Jun. 30, 2019 | 16,412,543 | ||||||
Balance at Jun. 30, 2019 | $ 16 | 38,301 | 2,607 | (36,029) | 1,481 | (54) | 6,322 |
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 |
Net loss for the period | (1,913) | ||||||
Foreign currency translation adjustment | 97 | ||||||
Balance (in shares) at Sep. 30, 2019 | 18,020,973 | ||||||
Balance at Sep. 30, 2019 | $ 18 | 40,706 | 2,607 | (36,417) | 1,552 | (55) | 8,411 |
Balance (in shares) at Jun. 30, 2019 | 16,412,543 | ||||||
Balance at Jun. 30, 2019 | $ 16 | 38,301 | 2,607 | (36,029) | 1,481 | (54) | 6,322 |
Share-based compensation | 14 | 14 | |||||
Net loss for the period | (388) | (3) | (391) | ||||
Foreign currency translation adjustment | 71 | 2 | 73 | ||||
Issuance of common stock for private placement, net of $0.008 million direct offering cost (in shares) | 1,608,430 | ||||||
Issuance of common stock for private placement, net of $0.008 million direct offering cost | $ 2 | 2,391 | 2,393 | ||||
Balance (in shares) at Sep. 30, 2019 | 18,020,973 | ||||||
Balance at Sep. 30, 2019 | $ 18 | 40,706 | 2,607 | (36,417) | 1,552 | (55) | 8,411 |
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 | $ 2 | 1,905 | 1,907 | ||||
Net loss for the period | (3,278) | (2) | (3,280) | ||||
Foreign currency translation adjustment | 67 | 1 | 68 | ||||
Balance (in shares) at Jun. 30, 2020 | 21,691,926 | ||||||
Balance at Jun. 30, 2020 | $ 22 | 45,493 | 2,607 | (39,051) | 1,572 | (58) | 10,585 |
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 |
Net loss for the period | (4,613) | ||||||
Foreign currency translation adjustment | (135) | ||||||
Balance (in shares) at Sep. 30, 2020 | 21,741,926 | ||||||
Balance at Sep. 30, 2020 | $ 22 | 45,569 | 2,607 | (40,384) | 1,371 | (60) | 9,125 |
Balance (in shares) at Jun. 30, 2020 | 21,691,926 | ||||||
Balance at Jun. 30, 2020 | $ 22 | 45,493 | 2,607 | (39,051) | 1,572 | (58) | 10,585 |
Share-based compensation in exchange for services from nonemployees | 76 | 76 | |||||
Share-based compensation in exchange for services from employees and directors (in shares) | 50,000 | ||||||
Net loss for the period | (1,333) | (1,333) | |||||
Foreign currency translation adjustment | (201) | (2) | (203) | ||||
Balance (in shares) at Sep. 30, 2020 | 21,741,926 | ||||||
Balance at Sep. 30, 2020 | $ 22 | $ 45,569 | $ 2,607 | $ (40,384) | $ 1,371 | $ (60) | $ 9,125 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parentheticals) $ in Thousands | 3 Months Ended |
Sep. 30, 2019USD ($) | |
direct offering cost | $ 8 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Operations | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Organization and nature of operations ZW Data Action Technologies Inc. (formerly known as ChinaNet Online Holdings, Inc.*) April 2006 October 2006. June 26, 2009, O2O 2018, September 30, 2020, 11 * Effective October 14, 2020, |
Note 2 - Variable Interest Enti
Note 2 - Variable Interest Entities | 9 Months Ended |
Sep. 30, 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 September 30, 2020 December 31, 2019, September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 249 $ 699 Accounts receivable, net 1,198 2,876 Prepayment and deposit to suppliers 4,176 3,998 Due from related parties, net 58 81 Other current assets, net 9 6 Total current assets 5,690 7,660 Long-term investments 64 35 Operating lease right-of-use assets 4 12 Property and equipment, net 39 40 Intangible assets, net 13 25 Deferred tax assets, net 815 713 Total Assets $ 6,625 $ 8,485 Liabilities Current liabilities: Short-term bank loan $ - $ 430 Accounts payable 290 408 Advance from customers 2,553 2,006 Accrued payroll and other accruals 188 132 Taxes payable 2,632 2,568 Lease payment liability related to a short-term lease 52 19 Other current liabilities 157 84 Total current liabilities 5,872 5,647 Total Liabilities $ 5,872 $ 5,647 All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, 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 nine three September 30, 2020 2019, Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues $ 23,683 $ 39,523 $ 11,135 $ 15,503 Cost of revenues (24,051 ) (37,828 ) (11,729 ) (14,616 ) Total operating expenses (1,515 ) (2,407 ) (123 ) (545 ) Net (loss)/income before allocation to noncontrolling interests (1,802 ) (742 ) (642 ) 344 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 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 September 30, 2020 nine three September 30, 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 September 30, 2020, nine three September 30, 2020 2019, nine September 30, 2020 2019, not b) Going concern The Company incurred operating losses and may nine three September 30, 2020 US$4.61 US$1.33 US$1.91 US$0.39 nine three September 30, 2019, September 30, 2020, US$0.50 US$1.60 December 31, 2019. The Company does not twelve 19 first 2020 may may may not not may one The unaudited condensed consolidated financial statements as of September 30, 2020 September 30, 2020 not may may c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: September 30, 2020 December 31, 2019 Balance sheet items, except for equity accounts 6.8101 6.9762 Nine Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9917 6.8541 Three Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9205 6.9872 No f) Fair value measurement Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of September 30, 2020 December 31, 2019 Fair value measurement at reporting date using As of September 30, 2020 Quoted Prices Significant Significant US$('000) US$('000) US$('000) US$('000) (Unaudited) Warrant liabilities (Note 17) 103 - - 103 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: Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 18,004 30,134 8,706 11,554 --online advertising placements 5,679 9,131 2,429 3,725 --sales of effective sales lead information - 253 - 224 --data and technical services 900 10 300 5 Ecommerce O2O advertising and marketing services 1,276 - 269 - Technical solution services 1,245 - 600 - Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue recognized over time 25,859 39,275 11,704 15,284 Revenue recognized at a point in time 1,245 253 600 224 Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 Contract costs For the nine three September 30, 2020 2019, not Contract liabilities The table below summarized the movement of the Company's contract liabilities for the nine September 30, 2020: Contract liabilities US$('000) Balance as of January 1, 2020 2,006 Exchange translation adjustment 49 Revenue recognized from beginning contract liability balances (1,681 ) Advances received from customers related to unsatisfied performance obligations 2,448 Balance as of September 30, 2020 (Unaudited) 2,822 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi nine three September 30, 2020 2019. For the nine three September 30, 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 nine September 30, 2020 2019 US$0.44 US$0.60 three September 30, 2020 2019 US$0.11 US$0.24 i) Lease As of September 30, 2020, US$4,000. no September 30, 2020. For the nine September 30, 2020 2019, US$121,000 US$114,000 US$284,000 US$194,000 For the three September 30, 2020 2019, US$37,000 US$35,000 US$66,000 US$64,000 |
Note 4 - Accounts Receivable, N
Note 4 - Accounts Receivable, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Receivable Disclosure [Text Block] | 4. Accounts receivable, net September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Accounts receivable 6,278 6,408 Allowance for doubtful accounts (3,996 ) (3,148 ) Accounts receivable, net 2,282 3,260 All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of September 30, 2020 December 31, 2019, US$4.00 US$3.15 six six nine three September 30, 2020, US$0.75 nil nine three September 30, 2019, US$0.45 nil |
Note 5 - Prepayments and Deposi
Note 5 - Prepayments and Deposit to Suppliers, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Prepayments and Deposits to Suppliers Disclosure [Text Block] | 5. Prepayments and deposit to suppliers, net September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Deposits to internet resources providers 1,323 1,315 Prepayments to internet resources providers 4,121 4,361 Prepayment of license fee 591 1,062 Other deposits and prepayments 266 242 6,301 6,980 |
Note 6 - Due From Related Parti
Note 6 - Due From Related Parties, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Due from Related Parties Disclosure [Text Block] | 6. Due from related parties, net September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”) 58 81 Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”) 176 172 234 253 Allowance for doubtful accounts (176 ) (172 ) Due from related parties, net 58 81 Related parties of the Company represented the Company's direct or indirect unconsolidated investee companies and entities that the Company's officers or directors can exercise significant influence. As of September 30, 2020 December 31, 2019, . As of September 30, 2020 December 31, 2019, RMB 1.2 US$ 0.18 |
Note 7 - Other Current Assets,
Note 7 - Other Current Assets, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Other Current Assets [Text Block] | 7. Other current assets, net September 30, 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 17 - 17 11 - 11 Short-term loan to an unrelated party 944 - 944 - - - Overdue deposits 734 (734 ) - 717 (717 ) - Total 1,695 (734 ) 961 728 (717 ) 11 As of September 30, 2020, nine September 30, 2020. As of September 30, 2020 December 31, 2019, RMB 5 US $0.7 no September 30, 2020 December 31, 2019, |
Note 8 - Long-term Investments
Note 8 - Long-term Investments | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | 8. Long-term investments As of September 30, 2020, RMB0.25 US$0.03 RMB0.19 US$0.03 two 4.9% 19% The Company measures these investments which do not In July 2020, Shenzhen City Mingshan Network Technology Co., Ltd. (“Shenzhen Mingshan”) and ChinaNet Chuang Tou (Shenzhen) Co., Ltd. (“ChinaNet Chuang Tou”) had become dormant since 2015 2018, these two 19% 23.18% |
Note 9 - Property and Equipment
Note 9 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property and equipment, net September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Vehicles 777 758 Office equipment 1,363 1,331 Electronic devices 960 937 Property and equipment, cost 3,100 3,026 Less: accumulated depreciation (3,026 ) (2,948 ) Property and equipment, net 74 78 Depreciation expenses for the nine September 30, 2020 2019 US$6,000 US$53,000, three September 30, 2020 2019 US$2,000 US$10,000, |
Note 10 - Intangible Assets, Ne
Note 10 - Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 10. Intangible assets, net As of September 30, 2020 (Unaudited) Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$('000) US$('000) US$('000) US$('000) Intangible assets not subject to amortization: Domain name 1,418 - (1,418 ) - Intangible assets subject to amortization: Customer relationship 1,956 (1,956 ) - - Non-compete agreements 1,076 (584 ) (492 ) - Software technologies 301 (301 ) - - Intelligent marketing data service platform 4,741 (1,920 ) (2,821 ) - Internet safety, information exchange security and data encryption software 1,909 (430 ) (1,479 ) - Cloud video management system 1,395 (346 ) (1,049 ) - Cloud compute software technology 1,363 (932 ) (418 ) 13 Licensed products use right 1,208 (105 ) - 1,103 Other computer software 875 (703 ) - 172 Total $ 16,242 $ (7,277 ) $ (7,677 ) $ 1,288 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 nine September 30, 2020 2019 US$616,000 US$13,000, three September 30, 2020 2019 US$205,000 US$4,000, 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 5.77 September 30, 2020, no he estimated future amortization expenses is approximately US$0.21 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 | 9 Months Ended |
Sep. 30, 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$0.44 two September 30, 2020 December 31, 2019, 350 40 US$4.19 US$3.88 two May 2020, 2020. 19 first 2020, 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 | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Long-term Prepayments [Text Block] | 12. Long-term prepayments As of September 30, 2020, US$0.37 one US$0.10 one not one September 30, 2020. |
Note 13 - Short-term Bank Loan
Note 13 - Short-term Bank Loan and Credit Facility | 9 Months Ended |
Sep. 30, 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$0.43 January 2020. |
Note 14 - Accrued Payroll and O
Note 14 - Accrued Payroll and Other Accruals | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 14. Accrued payroll and other accruals September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Accrued payroll and staff welfare 237 173 Accrued operating expenses 205 318 442 491 |
Note 15 - Taxation
Note 15 - Taxation | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. Taxation As of September 30, 2020 December 31, 2019, September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) PRC turnover tax and surcharge payable 1,280 1,244 PRC enterprise income tax payable 2,010 1,970 Total taxes payable 3,290 3,214 For the nine three September 30, 2020 2019, Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Current - - 57 - Deferred 87 10 98 16 Income tax benefit 87 10 155 16 The Company's deferred tax assets as of September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Tax effect of net operating losses carried forward 10,148 9,160 Bad debts provision 890 743 Valuation allowance (10,223 ) (9,190 ) Deferred tax assets, net 815 713 The U.S. holding company has incurred aggregate NOLs of approximately US$22.8 US$20.3 September 30, 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$25.2 US$23.6 September 30, 2020 December 31, 2019, 2030 The Company recorded approximately US$10.22 US$9.19 September 30, 2020 December 31, 2019, not not For the nine three September 30, 2020, US$0.90 US$0.14 nine September 30, 2019, US$0.42 three September 30, 2019, US$0.03 . |
Note 16 - Long-term Borrowing F
Note 16 - Long-term Borrowing From a Director | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Warrants Disclosure [Text Block] | 17. Warrant liabilities The Company consummated a registered direct offering in January 2018 ( “2018 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 December 31, June 30, September 30, December 31, June 30, September 30, Stock price $ 1.17 $ 1.00 $ 1.17 $ 1.00 $ 2.02 Years to maturity 0.55 0.05 1.05 0.55 0.30 Risk-free interest rate 1.58 % 0.19 % 1.57 % 0.18 % 0.13 % Dividend yield - - - - - Expected volatility 60 % 143 % 80 % 112 % 133 % Exercise Price * $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 Fair value of the warrant $ 0.11 $ 0.02 $ - $ 0.28 $ 0.20 $ 0.80 Warrant Liabilities (US$'000) $ 71 $ 13 $ - $ 36 $ 26 $ 103 Investors warrants Placement agent warrants December 31, June 30, September 30, December 31, June 30, September 30, Stock price $ 1.34 $ 1.35 $ 1.30 $ 1.34 $ 1.35 $ 1.30 Years to maturity 1.55 1.05 0.80 2.05 1.55 1.30 Risk-free interest rate 2.50 % 1.73 % 1.79 % 2.50 % 1.73 % 1.57 % Dividend yield - - - - - - Expected volatility 199 % 90 % 82 % 176 % 202 % 83 % Exercise Price $ 6.60 $ 6.60 $ 1.4927 $ 6.60 $ 6.60 $ 1.4927 Fair value of the warrant $ 0.78 $ 0.05 $ 0.31 $ 0.80 $ 0.80 $ 0.43 Warrant Liabilities (US$'000) $ 503 $ 32 $ 200 $ 103 $ 103 $ 55 * On September 25, 2019, first 2018 $1.4927. # The investor warrants had expired during the three September 30, 2020. Changes in fair value of warrant liabilities Nine and Three Months Ended September 30, 2020 ( As of As of As of Change in Fair Value (gain)/loss September 30, 2020 June 30, 2020 December 31, 2019 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Fair value of the Warrants: Investor warrants - 13 71 (71 ) (13 ) Placement agent warrants 103 26 36 67 77 Warrant liabilities 103 39 107 (4 ) 64 Nine and Three Months Ended September 30, 2019 ( As of As of As of Change in Fair Value (gain)/loss September 30, 2019 June 30, 2019 December 31, 2018 Nine Months Ended September 30, 2019 Three Months Ended September 30, 2019 Fair value of the Warrants: Investor warrants 200 32 503 (303 ) 168 Placement agent warrants 55 103 103 (48 ) (48 ) Warrant liabilities 255 135 606 (351 ) 120 Warrants issued and outstanding as of September 30, 2020 nine 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 - - Expired (645,000 ) (645,000 ) Exercised - - Balance, September 30, 2020 (Unaudited) 129,000 0.13 $ 1.4927 129,000 0.13 $ 1.4927 |
Note 18 - Restricted Net Assets
Note 18 - Restricted Net Assets | 9 Months Ended |
Sep. 30, 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 September 30, 2020 December 31, 2019, US $6.21 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 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 | 9 Months Ended |
Sep. 30, 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$0.08 US$0.26 nine September 30, 2020 2019, US$0.03 US$0.09 three September 30, 2020 2019, |
Note 20 - Concentration of Risk
Note 20 - Concentration of Risk | 9 Months Ended |
Sep. 30, 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 September 30, 2020, For accounts receivable, the Company extends credit based on an evaluation of the customer's financial condition, generally without requiring collateral or other security. In order to minimize the credit risk, the Company delegated a team responsible for credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. Further, the Company reviews the recoverable amount of each individual receivable at each balance sheet date to ensure that adequate allowances are made for doubtful accounts. In this regard, the Company considers that the Company's credit risk for accounts receivable is significantly reduced Concentration of customers The following tables summarized the information about the Company's concentration of customers for the nine three September 30, 2020 2019, Customer A Customer B Customer C Customer D Customer E Customer F Nine Months Ended September 30, 2020 Revenues, customer concentration risk * * 16% * * - Three Months Ended September 30, 2020 Revenues, customer concentration risk * * 21% * * - Nine Months Ended September 30, 2019 Revenues, customer concentration risk 11% * * - - * Three Months Ended September 30, 2019 Revenues, customer concentration risk * * * - - 10% As of September 30, 2020 Accounts receivable, customer concentration risk 33% * * 27% 15% - 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 nine three September 30, 2020 2019, Supplier A Nine Months Ended September 30, 2020 Cost of revenues, supplier concentration risk 78% Three Months Ended September 30, 2020 Cost of revenues, supplier concentration risk 78% Nine Months Ended September 30, 2019 Cost of revenues, supplier concentration risk 90% Three Months Ended September 30, 2019 Cost of revenues, supplier concentration risk 88% |
Note 21 - Commitments and Conti
Note 21 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 21. Commitments and contingencies In 2018, two third two US$4.94 September 30, 2020, US$4.19 December 31, 2020. The Company is currently not not may |
Note 22 - Segment Reporting
Note 22 - Segment Reporting | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 22. Segment reporting The Company follows ASC Topic 280 Previously, the Company had four 2020, O2O 2019, O2O 2020. 2019 2020. Nine Months Ended September 30, 2020 ( Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 24,583 1,276 - 1,245 - 27,104 Cost of revenues 24,847 1,125 - 576 - 26,548 Total operating expenses 2,361 15 5 2,875 (1) - 5,256 Depreciation and amortization expense included in total operating expenses 617 - 2 3 - 622 Operating (loss)/income (2,625 ) 136 (5 ) (2,206 ) - (4,700 ) Change in fair value of warrant liabilities - - - 4 - 4 Expenditure for long-term assets - - 302 - - 302 Net (loss)/income (2,543 ) 110 (5 ) (2,175 ) - (4,613 ) Total assets- September 30, 2020 10,830 2,093 4,193 21,224 (21,330 ) 17,010 Total assets-December 31, 2019 13,332 2,075 3,885 21,338 (22,079 ) 18,551 ( 1 Including approximately US$2,066 Three Months Ended September 30, 2020 ( Internet Ad. Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 11,435 269 - 600 - 12,304 Cost of revenues 11,994 375 - 576 - 12,945 Total operating expenses 409 6 1 347 (1) - 763 Depreciation and amortization expense included in total operating expenses 205 - 1 1 - 207 Operating loss (968 ) (112 ) (1 ) (323 ) - (1,404 ) Change in fair value of warrant liabilities - - - (64 ) - (64 ) Net loss (893 ) (94 ) (1 ) (345 ) - (1,333 ) ( 1 Including approximately US$79 Nine Months Ended September 30, 2019 ( Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 39,528 - - - - 39,528 Cost of revenues 37,828 - - - - 37,828 Total operating expenses 2,525 42 18 1,350 (1) - 3,935 Depreciation and amortization expense included in total operating expenses 47 - 2 17 - 66 Operating loss (825 ) (42 ) (18 ) (1,350 ) - (2,235 ) Change in fair value of warrant liabilities - - - 351 - 351 Expenditure for long-term assets 760 - - - - 760 Net loss (854 ) (42 ) (18 ) (999 ) - (1,913 ) ( 1 Including approximately US$307 Three Months Ended September 30, 2019 ( Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 15,508 - - - - 15,508 Cost of revenues 14,616 - - - - 14,616 Total operating expenses 675 6 7 479 (1) - 1,167 Depreciation and amortization expense included in total operating expenses 12 - 1 1 - 14 Operating income/(loss) 217 (6 ) (7 ) (479 ) - (275 ) Change in fair value of warrant liabilities - - - (120 ) - (120 ) Expenditure for long-term assets 760 - - - - 760 Net income/(loss) 221 (6 ) (7 ) (599 ) - (391 ) ( 1 Including approximately US$104 |
Note 23 - Loss Per Share
Note 23 - Loss Per Share | 9 Months Ended |
Sep. 30, 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): Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss attributable to ZW Data Technologies Inc. (numerator for basic and diluted loss per share) $ (4,611 ) $ (1,905 ) $ (1,333 ) $ (388 ) Weighted average number of common shares outstanding -Basic and diluted 21,271,301 16,447,233 21,720,259 16,517,440 Loss per share-Basic and diluted $ (0.22 ) $ (0.12 ) $ (0.06 ) $ (0.02 ) For the nine three September 30, 2020, not 129,000 277,976 For the nine three September 30, 2019, not 774,000 835,216 |
Note 24 - Share-based Compensat
Note 24 - Share-based Compensation Expenses | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 24. Share-based compensation expenses In February 2020, 1.60 US$1.18 US$1.89 nine September 30, 2020. In March 2020, 0.03 one December 31, 2020. US$1.11 nine three September 30, 2020 US$0.02 US$0.01 In March 2020, 0.43 two February 2022. not US$1.11 US$0.48 nine three September 30, 2020 US$0.14 US$0.06 In August 2020, 0.05 one July 2021. not US$1.36 US$0.07 nine three September 30, 2020 US $0.01 The table below summarized share-based compensation expenses recorded for the nine three September 30, 2020 2019, Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales and marketing expenses 122 - - - General and administrative expenses 1,798 307 79 104 Research and development expenses 146 - - - Total 2,066 307 79 104 The aggregate unrecognized share-based compensation expenses as of September 30, 2020 US$0.40 US$0.08 December 31, 2020, US$0.28 December 31, 2021 US$0.04 December 31, 2022. Options issued and outstanding as of September 30, 2020 nine 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 - - Expired (477,240 ) $ 2.10 (477,240 ) $ 2.10 Exercised - - Balance, September 30, 2020 (Unaudited) 277,976 1.16 $ 3.00 277,976 1.16 $ 3.00 |
Note 25 - Subsequent Event
Note 25 - Subsequent Event | 9 Months Ended |
Sep. 30, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 25. Subsequent event In October 2020, 49% 51% 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 2020, February 2020 March 2020 19. 19 no 19 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 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 September 30, 2020 nine three September 30, 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 September 30, 2020, nine three September 30, 2020 2019, nine September 30, 2020 2019, not |
Going Concern [Policy Text Block] | b) Going concern The Company incurred operating losses and may nine three September 30, 2020 US$4.61 US$1.33 US$1.91 US$0.39 nine three September 30, 2019, September 30, 2020, US$0.50 US$1.60 December 31, 2019. The Company does not twelve 19 first 2020 may may may not not may one The unaudited condensed consolidated financial statements as of September 30, 2020 September 30, 2020 not may may |
Consolidation, Policy [Policy Text Block] | c) Principles of consolidation The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation. |
Use of Estimates, Policy [Policy Text Block] | d) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | e) Foreign currency translation The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows: September 30, 2020 December 31, 2019 Balance sheet items, except for equity accounts 6.8101 6.9762 Nine Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9917 6.8541 Three Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9205 6.9872 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 September 30, 2020 December 31, 2019 Fair value measurement at reporting date using As of September 30, 2020 Quoted Prices Significant Significant US$('000) US$('000) US$('000) US$('000) (Unaudited) Warrant liabilities (Note 17) 103 - - 103 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: Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 18,004 30,134 8,706 11,554 --online advertising placements 5,679 9,131 2,429 3,725 --sales of effective sales lead information - 253 - 224 --data and technical services 900 10 300 5 Ecommerce O2O advertising and marketing services 1,276 - 269 - Technical solution services 1,245 - 600 - Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue recognized over time 25,859 39,275 11,704 15,284 Revenue recognized at a point in time 1,245 253 600 224 Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 Contract costs For the nine three September 30, 2020 2019, not Contract liabilities The table below summarized the movement of the Company's contract liabilities for the nine September 30, 2020: Contract liabilities US$('000) Balance as of January 1, 2020 2,006 Exchange translation adjustment 49 Revenue recognized from beginning contract liability balances (1,681 ) Advances received from customers related to unsatisfied performance obligations 2,448 Balance as of September 30, 2020 (Unaudited) 2,822 Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu stomers were insignifi nine three September 30, 2020 2019. For the nine three September 30, 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 nine September 30, 2020 2019 US$0.44 US$0.60 three September 30, 2020 2019 US$0.11 US$0.24 |
Lessee, Leases [Policy Text Block] | i) Lease As of September 30, 2020, US$4,000. no September 30, 2020. For the nine September 30, 2020 2019, US$121,000 US$114,000 US$284,000 US$194,000 For the three September 30, 2020 2019, US$37,000 US$35,000 US$66,000 US$64,000 |
Note 2 - Variable Interest En_2
Note 2 - Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Variable Interest Entities [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Assets Current assets: Cash and cash equivalents $ 249 $ 699 Accounts receivable, net 1,198 2,876 Prepayment and deposit to suppliers 4,176 3,998 Due from related parties, net 58 81 Other current assets, net 9 6 Total current assets 5,690 7,660 Long-term investments 64 35 Operating lease right-of-use assets 4 12 Property and equipment, net 39 40 Intangible assets, net 13 25 Deferred tax assets, net 815 713 Total Assets $ 6,625 $ 8,485 Liabilities Current liabilities: Short-term bank loan $ - $ 430 Accounts payable 290 408 Advance from customers 2,553 2,006 Accrued payroll and other accruals 188 132 Taxes payable 2,632 2,568 Lease payment liability related to a short-term lease 52 19 Other current liabilities 157 84 Total current liabilities 5,872 5,647 Total Liabilities $ 5,872 $ 5,647 |
Financial Performance of VIEs [Table Text Block] | Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues $ 23,683 $ 39,523 $ 11,135 $ 15,503 Cost of revenues (24,051 ) (37,828 ) (11,729 ) (14,616 ) Total operating expenses (1,515 ) (2,407 ) (123 ) (545 ) Net (loss)/income before allocation to noncontrolling interests (1,802 ) (742 ) (642 ) 344 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Foreign Currency Exchange Rates [Table Text Block] | September 30, 2020 December 31, 2019 Balance sheet items, except for equity accounts 6.8101 6.9762 Nine Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9917 6.8541 Three Months Ended September 30, 2020 2019 Items in the statements of operations and comprehensive loss 6.9205 6.9872 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair value measurement at reporting date using As of September 30, 2020 Quoted Prices Significant Significant US$('000) US$('000) US$('000) US$('000) (Unaudited) Warrant liabilities (Note 17) 103 - - 103 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] | Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Internet advertising and related services --distribution of the right to use search engine marketing service 18,004 30,134 8,706 11,554 --online advertising placements 5,679 9,131 2,429 3,725 --sales of effective sales lead information - 253 - 224 --data and technical services 900 10 300 5 Ecommerce O2O advertising and marketing services 1,276 - 269 - Technical solution services 1,245 - 600 - Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenue recognized over time 25,859 39,275 11,704 15,284 Revenue recognized at a point in time 1,245 253 600 224 Total revenues $ 27,104 $ 39,528 $ 12,304 $ 15,508 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Contract liabilities US$('000) Balance as of January 1, 2020 2,006 Exchange translation adjustment 49 Revenue recognized from beginning contract liability balances (1,681 ) Advances received from customers related to unsatisfied performance obligations 2,448 Balance as of September 30, 2020 (Unaudited) 2,822 |
Note 4 - Accounts Receivable,_2
Note 4 - Accounts Receivable, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accounts Receivable [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Accounts receivable 6,278 6,408 Allowance for doubtful accounts (3,996 ) (3,148 ) Accounts receivable, net 2,282 3,260 |
Note 5 - Prepayments and Depo_2
Note 5 - Prepayments and Deposit to Suppliers, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Prepayments and Deposit to Suppliers [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Deposits to internet resources providers 1,323 1,315 Prepayments to internet resources providers 4,121 4,361 Prepayment of license fee 591 1,062 Other deposits and prepayments 266 242 6,301 6,980 |
Note 6 - Due From Related Par_2
Note 6 - Due From Related Parties, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Due From Related Parties [Member] | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Zhongwang Xiyue Technology (Beijing) Co., Ltd. (“Zhongwang Xiyue”) 58 81 Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”) 176 172 234 253 Allowance for doubtful accounts (176 ) (172 ) Due from related parties, net 58 81 |
Note 7 - Other Current Assets_2
Note 7 - Other Current Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Other Receivables [Table Text Block] | September 30, 2020 December 31,2019 Gross Allowance for doubtful accounts Net Gross Allowance for doubtful accounts Net US$('000) US$('000) US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) Staff advances for business operations 17 - 17 11 - 11 Short-term loan to an unrelated party 944 - 944 - - - Overdue deposits 734 (734 ) - 717 (717 ) - Total 1,695 (734 ) 961 728 (717 ) 11 |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Property and Equipment [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Vehicles 777 758 Office equipment 1,363 1,331 Electronic devices 960 937 Property and equipment, cost 3,100 3,026 Less: accumulated depreciation (3,026 ) (2,948 ) Property and equipment, net 74 78 |
Note 10 - Intangible Assets, _2
Note 10 - Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Finite and Indefinite-Lived Intangible Assets [Table Text Block] | As of September 30, 2020 (Unaudited) Items Gross Carrying Value Accumulated Amortization Impairment Net Carrying Value US$('000) US$('000) US$('000) US$('000) Intangible assets not subject to amortization: Domain name 1,418 - (1,418 ) - Intangible assets subject to amortization: Customer relationship 1,956 (1,956 ) - - Non-compete agreements 1,076 (584 ) (492 ) - Software technologies 301 (301 ) - - Intelligent marketing data service platform 4,741 (1,920 ) (2,821 ) - Internet safety, information exchange security and data encryption software 1,909 (430 ) (1,479 ) - Cloud video management system 1,395 (346 ) (1,049 ) - Cloud compute software technology 1,363 (932 ) (418 ) 13 Licensed products use right 1,208 (105 ) - 1,103 Other computer software 875 (703 ) - 172 Total $ 16,242 $ (7,277 ) $ (7,677 ) $ 1,288 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) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Accrued payroll and staff welfare 237 173 Accrued operating expenses 205 318 442 491 |
Note 15 - Taxation (Tables)
Note 15 - Taxation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule Of Taxes Payable [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) PRC turnover tax and surcharge payable 1,280 1,244 PRC enterprise income tax payable 2,010 1,970 Total taxes payable 3,290 3,214 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Current - - 57 - Deferred 87 10 98 16 Income tax benefit 87 10 155 16 |
Schedule Of Deferred Tax Assets [Table Text Block] | September 30, 2020 December 31, 2019 US$('000) US$('000) (Unaudited) Tax effect of net operating losses carried forward 10,148 9,160 Bad debts provision 890 743 Valuation allowance (10,223 ) (9,190 ) Deferred tax assets, net 815 713 |
Note 17 - Warrant Liabilities (
Note 17 - Warrant Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Warrant Liabilities [Table Text Block] | As of As of As of Change in Fair Value (gain)/loss September 30, 2020 June 30, 2020 December 31, 2019 Nine Months Ended September 30, 2020 Three Months Ended September 30, 2020 Fair value of the Warrants: Investor warrants - 13 71 (71 ) (13 ) Placement agent warrants 103 26 36 67 77 Warrant liabilities 103 39 107 (4 ) 64 As of As of As of Change in Fair Value (gain)/loss September 30, 2019 June 30, 2019 December 31, 2018 Nine Months Ended September 30, 2019 Three Months Ended September 30, 2019 Fair value of the Warrants: Investor warrants 200 32 503 (303 ) 168 Placement agent warrants 55 103 103 (48 ) (48 ) Warrant liabilities 255 135 606 (351 ) 120 |
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 - - Expired (645,000 ) (645,000 ) Exercised - - Balance, September 30, 2020 (Unaudited) 129,000 0.13 $ 1.4927 129,000 0.13 $ 1.4927 |
Warrant [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Investors warrants Placement agent warrants December 31, June 30, September 30, December 31, June 30, September 30, Stock price $ 1.17 $ 1.00 $ 1.17 $ 1.00 $ 2.02 Years to maturity 0.55 0.05 1.05 0.55 0.30 Risk-free interest rate 1.58 % 0.19 % 1.57 % 0.18 % 0.13 % Dividend yield - - - - - Expected volatility 60 % 143 % 80 % 112 % 133 % Exercise Price * $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 $ 1.4927 Fair value of the warrant $ 0.11 $ 0.02 $ - $ 0.28 $ 0.20 $ 0.80 Warrant Liabilities (US$'000) $ 71 $ 13 $ - $ 36 $ 26 $ 103 Investors warrants Placement agent warrants December 31, June 30, September 30, December 31, June 30, September 30, Stock price $ 1.34 $ 1.35 $ 1.30 $ 1.34 $ 1.35 $ 1.30 Years to maturity 1.55 1.05 0.80 2.05 1.55 1.30 Risk-free interest rate 2.50 % 1.73 % 1.79 % 2.50 % 1.73 % 1.57 % Dividend yield - - - - - - Expected volatility 199 % 90 % 82 % 176 % 202 % 83 % Exercise Price $ 6.60 $ 6.60 $ 1.4927 $ 6.60 $ 6.60 $ 1.4927 Fair value of the warrant $ 0.78 $ 0.05 $ 0.31 $ 0.80 $ 0.80 $ 0.43 Warrant Liabilities (US$'000) $ 503 $ 32 $ 200 $ 103 $ 103 $ 55 |
Note 20 - Concentration of Ri_2
Note 20 - Concentration of Risk (Tables) | 9 Months Ended |
Sep. 30, 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 Nine Months Ended September 30, 2020 Revenues, customer concentration risk * * 16% * * - Three Months Ended September 30, 2020 Revenues, customer concentration risk * * 21% * * - Nine Months Ended September 30, 2019 Revenues, customer concentration risk 11% * * - - * Three Months Ended September 30, 2019 Revenues, customer concentration risk * * * - - 10% As of September 30, 2020 Accounts receivable, customer concentration risk 33% * * 27% 15% - As of December 31, 2019 Accounts receivable, customer concentration risk 57% 13% 12% - - - Supplier A Nine Months Ended September 30, 2020 Cost of revenues, supplier concentration risk 78% Three Months Ended September 30, 2020 Cost of revenues, supplier concentration risk 78% Nine Months Ended September 30, 2019 Cost of revenues, supplier concentration risk 90% Three Months Ended September 30, 2019 Cost of revenues, supplier concentration risk 88% |
Note 22 - Segment Reporting (Ta
Note 22 - Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 24,583 1,276 - 1,245 - 27,104 Cost of revenues 24,847 1,125 - 576 - 26,548 Total operating expenses 2,361 15 5 2,875 (1) - 5,256 Depreciation and amortization expense included in total operating expenses 617 - 2 3 - 622 Operating (loss)/income (2,625 ) 136 (5 ) (2,206 ) - (4,700 ) Change in fair value of warrant liabilities - - - 4 - 4 Expenditure for long-term assets - - 302 - - 302 Net (loss)/income (2,543 ) 110 (5 ) (2,175 ) - (4,613 ) Total assets- September 30, 2020 10,830 2,093 4,193 21,224 (21,330 ) 17,010 Total assets-December 31, 2019 13,332 2,075 3,885 21,338 (22,079 ) 18,551 Internet Ad. Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 11,435 269 - 600 - 12,304 Cost of revenues 11,994 375 - 576 - 12,945 Total operating expenses 409 6 1 347 (1) - 763 Depreciation and amortization expense included in total operating expenses 205 - 1 1 - 207 Operating loss (968 ) (112 ) (1 ) (323 ) - (1,404 ) Change in fair value of warrant liabilities - - - (64 ) - (64 ) Net loss (893 ) (94 ) (1 ) (345 ) - (1,333 ) Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 39,528 - - - - 39,528 Cost of revenues 37,828 - - - - 37,828 Total operating expenses 2,525 42 18 1,350 (1) - 3,935 Depreciation and amortization expense included in total operating expenses 47 - 2 17 - 66 Operating loss (825 ) (42 ) (18 ) (1,350 ) - (2,235 ) Change in fair value of warrant liabilities - - - 351 - 351 Expenditure for long-term assets 760 - - - - 760 Net loss (854 ) (42 ) (18 ) (999 ) - (1,913 ) Internet Ad Ecommerce Blockchain technology Corporate Inter-segment and reconciling item Total US$ US$ US$ US$ US$ US$ Revenues 15,508 - - - - 15,508 Cost of revenues 14,616 - - - - 14,616 Total operating expenses 675 6 7 479 (1) - 1,167 Depreciation and amortization expense included in total operating expenses 12 - 1 1 - 14 Operating income/(loss) 217 (6 ) (7 ) (479 ) - (275 ) Change in fair value of warrant liabilities - - - (120 ) - (120 ) Expenditure for long-term assets 760 - - - - 760 Net income/(loss) 221 (6 ) (7 ) (599 ) - (391 ) |
Note 23 - Loss Per Share (Table
Note 23 - Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Net loss attributable to ZW Data Technologies Inc. (numerator for basic and diluted loss per share) $ (4,611 ) $ (1,905 ) $ (1,333 ) $ (388 ) Weighted average number of common shares outstanding -Basic and diluted 21,271,301 16,447,233 21,720,259 16,517,440 Loss per share-Basic and diluted $ (0.22 ) $ (0.12 ) $ (0.06 ) $ (0.02 ) |
Note 24 - Share-based Compens_2
Note 24 - Share-based Compensation Expenses (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Nine Months Ended September 30, Three Months Ended September 30, 2020 2019 2020 2019 US$('000) US$('000) US$('000) US$('000) (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales and marketing expenses 122 - - - General and administrative expenses 1,798 307 79 104 Research and development expenses 146 - - - Total 2,066 307 79 104 |
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 - - Expired (477,240 ) $ 2.10 (477,240 ) $ 2.10 Exercised - - Balance, September 30, 2020 (Unaudited) 277,976 1.16 $ 3.00 277,976 1.16 $ 3.00 |
Note 2 - Variable Interest En_3
Note 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($) | Sep. 30, 2020 | Dec. 31, 2019 | ||
Cash and cash equivalents * | $ 500,000 | [1] | $ 1,603,000 | |
Accounts receivable, net | [1] | 2,282,000 | 3,260,000 | |
Prepayment and deposit to suppliers | [1] | 6,301,000 | 6,980,000 | |
Due from related parties, net * | [1] | 58,000 | 81,000 | |
Other current assets, net | [1] | 961,000 | 11,000 | |
Total current assets | 10,102,000 | 11,935,000 | ||
Long-term investments | [1] | 64,000 | 35,000 | |
Operating lease right-of-use assets * | [1] | 4,000 | 12,000 | |
Property and equipment, net * | [1] | 74,000 | 78,000 | |
Intangible assets, net | [1] | 1,288,000 | 1,899,000 | |
Deferred tax assets, net | [1] | 815,000 | 713,000 | |
Total assets | 17,010,000 | 18,551,000 | ||
Short-term Bank Loans and Notes Payable | [1] | 430,000 | ||
Accounts payable | [1] | 552,000 | 408,000 | |
Advance from customers | [1] | 2,822,000 | 2,006,000 | |
Accrued payroll and other accruals | [1] | 442,000 | 491,000 | |
Taxes payable | [1] | 3,290,000 | 3,214,000 | |
Lease payment liability related to a short-term lease | [1] | 222,000 | 136,000 | |
Other current liabilities | [1] | 325,000 | 221,000 | |
Total current liabilities | 7,756,000 | 7,013,000 | ||
Total Liabilities | 7,885,000 | 7,138,000 | ||
Variable Interest Entity, Primary Beneficiary [Member] | ||||
Cash and cash equivalents * | 249,000 | 699,000 | ||
Accounts receivable, net | 1,198,000 | 2,876,000 | ||
Prepayment and deposit to suppliers | 4,176,000 | 3,998,000 | ||
Due from related parties, net * | 58,000 | 81,000 | ||
Other current assets, net | 9,000 | 6,000 | ||
Total current assets | 5,690,000 | 7,660,000 | ||
Long-term investments | 64,000 | 35,000 | ||
Operating lease right-of-use assets * | 4,000 | 12,000 | ||
Property and equipment, net * | 39,000 | 40,000 | ||
Intangible assets, net | 13,000 | 25,000 | ||
Deferred tax assets, net | 815,000 | 713,000 | ||
Total assets | 6,625,000 | 8,485,000 | ||
Short-term Bank Loans and Notes Payable | 430,000 | |||
Accounts payable | 290,000 | 408,000 | ||
Advance from customers | 2,553,000 | 2,006,000 | ||
Accrued payroll and other accruals | 188,000 | 132,000 | ||
Taxes payable | 2,632,000 | 2,568,000 | ||
Lease payment liability related to a short-term lease | 52,000 | 19,000 | ||
Other current liabilities | 157,000 | 84,000 | ||
Total current liabilities | 5,872,000 | 5,647,000 | ||
Total Liabilities | $ 5,872,000 | $ 5,647,000 | ||
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, 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 | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 12,304 | $ 15,508 | $ 27,104 | $ 39,528 | ||
Cost of revenues | (12,945) | (14,616) | (26,548) | (37,828) | ||
Total operating expenses | (763) | (1,167) | (5,256) | (3,935) | ||
Net loss | (1,333) | (391) | $ (3,280) | $ (1,522) | (4,613) | (1,913) |
Variable Interest Entity, Primary Beneficiary [Member] | ||||||
Revenues | 11,135 | 15,503 | 23,683 | 39,523 | ||
Cost of revenues | (11,729) | (14,616) | (24,051) | (37,828) | ||
Total operating expenses | (123) | (545) | (1,515) | (2,407) | ||
Net loss | $ (642) | $ 344 | $ (1,802) | $ (742) |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||
Net Income (Loss) Attributable to Parent, Total | $ (1,333,000) | $ (388,000) | $ (4,611,000) | $ (1,905,000) | ||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 500,000 | [1] | 500,000 | [1] | $ 1,603,000 | |||
Research and Development Expense, Total | 113,000 | 239,000 | 443,000 | 599,000 | ||||
Operating Lease, Right-of-Use Asset | [1] | 4,000 | 4,000 | $ 12,000 | ||||
Operating Lease, Liability, Total | 0 | 0 | ||||||
Operating Lease, Cost | 37,000 | 66,000 | 121,000 | 284,000 | ||||
Short-term Lease, Cost | $ 35,000 | $ 64,000 | $ 114,000 | $ 194,000 | ||||
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
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 | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Balance sheet items, except for equity accounts | 6.8101 | 6.8101 | 6.9762 | ||
Items in the statements of operations and comprehensive loss | 6.9205 | 6.9872 | 6.9917 | 6.8541 |
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 | Sep. 30, 2020 | Dec. 31, 2019 |
Warrant liabilities (Note 17) | $ 103 | $ 107 |
Fair Value, Inputs, Level 1 [Member] | ||
Warrant liabilities (Note 17) | ||
Fair Value, Inputs, Level 2 [Member] | ||
Warrant liabilities (Note 17) | $ 103 | |
Fair Value, Inputs, Level 3 [Member] | ||
Warrant liabilities (Note 17) | $ 107 |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues | $ 12,304 | $ 15,508 | $ 27,104 | $ 39,528 |
Search Engine Marketing and Data Service [Member] | ||||
Revenues | 8,706 | 11,554 | 18,004 | 30,134 |
Online Advertising Placement [Member] | ||||
Revenues | 2,429 | 3,725 | 5,679 | 9,131 |
Sales of Effective Sales Lead Information [Member] | ||||
Revenues | 224 | 253 | ||
Data and Technical Services [Member] | ||||
Revenues | 300 | 5 | 900 | 10 |
Offline Advertising and Marketing Services [Member] | ||||
Revenues | 269 | 1,276 | ||
Technical Solution Services [Member] | ||||
Revenues | 600 | 1,245 | ||
Transferred over Time [Member] | ||||
Revenues | 11,704 | 15,284 | 25,859 | 39,275 |
Transferred at Point in Time [Member] | ||||
Revenues | $ 600 | $ 224 | $ 1,245 | $ 253 |
Note 3 - Summary of Significa_7
Note 3 - Summary of Significant Accounting Policies - Contract liabilities (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Balance | $ 2,006 |
Exchange translation adjustment | 49 |
Revenue recognized from beginning contract liability balances | (1,681) |
Advances received from customers related to unsatisfied performance obligations | 2,448 |
Balance | $ 2,822 |
Note 4 - Accounts Receivable,_3
Note 4 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Accounts Receivable, Allowance for Credit Loss, Current | $ 3,996 | $ 3,148 | |
Accounts Receivable, Credit Loss Expense (Reversal) | 751 | $ 445 | |
Internet Advertising and TV Advertising [Member] | |||
Accounts Receivable, Allowance for Credit Loss, Current | $ 4,000 | $ 3,150 | |
Number of Months Past Due (Month) | 180 days | ||
Accounts Receivable, Credit Loss Expense (Reversal) | $ 750 | $ 450 |
Note 4 - Accounts Receivable,_4
Note 4 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Accounts receivable | $ 6,278 | $ 6,408 | |
Allowance for doubtful accounts | (3,996) | (3,148) | |
Accounts receivable, net | [1] | $ 2,282 | $ 3,260 |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 5 - Prepayments and Depo_3
Note 5 - Prepayments and Deposit to Suppliers, Net - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Prepayment and deposit to suppliers * | [1] | $ 6,301 | $ 6,980 |
Deposits to TV Ad and Internet Ad Resources Providers [Member] | |||
Prepayment and deposit to suppliers * | 1,323 | 1,315 | |
Prepayment to TV Ad and Internet Ad Resources Providers [Member] | |||
Prepayment and deposit to suppliers * | 4,121 | 4,361 | |
Prepayment For Software System Development [Member] | |||
Prepayment and deposit to suppliers * | 591 | 1,062 | |
Other Deposits and Prepayments [Member] | |||
Prepayment and deposit to suppliers * | $ 266 | $ 242 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 6 - Due From Related Par_3
Note 6 - Due From Related Parties, Net (Details Textual) $ in Thousands, ¥ in Millions | Sep. 30, 2020USD ($) | Sep. 30, 2020CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) | |
Due from Related Parties, Current, Total | [1] | $ 58 | $ 81 | ||
Chuangshi Meiwei and Guoshua Shiji [Member] | Related-party Working Capital Loans [Member] | |||||
Due from Related Parties, Current, Total | $ 180 | ¥ 1.2 | $ 180 | ¥ 1.2 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 6 - Due From Related Par_4
Note 6 - Due From Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Allowance for doubtful accounts | $ (176) | $ (172) | |
Due from Related Parties, Current, Total | [1] | 58 | 81 |
Zhong Wang Xi Yue Technology (Beijing) Co. Ltd [Member] | |||
Due from related parties, gross | 58 | 81 | |
Guohua Shiji [Member] | |||
Due from related parties, gross | $ 176 | $ 172 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 7 - Other Current Assets_3
Note 7 - Other Current Assets, Net (Details Textual) ¥ in Millions, $ in Millions | Sep. 30, 2020USD ($) | Sep. 30, 2020CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019CNY (¥) |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 0.7 | ¥ 5 | $ 0.7 | ¥ 5 |
Note 7 - Other Current Assets_4
Note 7 - Other Current Assets, Net - Summary of Other Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Other receivables, gross | $ 1,695 | $ 728 |
Allowance for doubtful accounts | (734) | (717) |
Other receivables, net | 961 | 11 |
Staff Advances for Business Operations [Member] | ||
Other receivables, gross | 17 | 11 |
Allowance for doubtful accounts | ||
Other receivables, net | 17 | 11 |
Loan to Unrelated Party [Member] | ||
Other receivables, gross | 944 | |
Allowance for doubtful accounts | ||
Other receivables, net | 944 | |
Overdue Deposits [Member] | ||
Other receivables, gross | 734 | 717 |
Allowance for doubtful accounts | (734) | (717) |
Other receivables, net |
Note 8 - Long-term Investments
Note 8 - Long-term Investments (Details Textual) ¥ in Thousands, $ in Thousands | Sep. 30, 2020USD ($) | Sep. 30, 2020CNY (¥) | Jul. 31, 2020 |
Local Chain Xi’an [Member] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 30 | ¥ 250 | |
Equity Securities without Readily Determinable Fair Value, Percent | 4.90% | 4.90% | |
Business Opportunity Chain [Member] | |||
Equity Securities without Readily Determinable Fair Value, Amount | $ 30 | ¥ 190 | |
Equity Securities without Readily Determinable Fair Value, Percent | 19.00% | 19.00% | |
ChinaNet Chuang Tou [Member] | |||
Equity Securities without Readily Determinable Fair Value, Percent | 19.00% | ||
Shenzhen Mingshan [Member] | |||
Equity Securities without Readily Determinable Fair Value, Percent | 23.18% |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Depreciation, Total | $ 2,000 | $ 10,000 | $ 6,000 | $ 53,000 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Property and equipment, gross | $ 3,100 | $ 3,026 | |
Less: accumulated depreciation | (3,026) | (2,948) | |
Property and equipment, net * | [1] | 74 | 78 |
Vehicles [Member] | |||
Property and equipment, gross | 777 | 758 | |
Office Equipment [Member] | |||
Property and equipment, gross | 1,363 | 1,331 | |
Electronic Devices [Member] | |||
Property and equipment, gross | $ 960 | $ 937 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 10 - Intangible Assets, _3
Note 10 - Intangible Assets, Net (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Amortization of Intangible Assets, Total | $ 205,000 | $ 4,000 | $ 616,000 | $ 13,000 |
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years 281 days | |||
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year | 210,000 | $ 210,000 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year One | 130,000 | 130,000 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 120,000 | 120,000 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 120,000 | 120,000 | ||
Finite-Lived Intangible Asset, Expected Amortization, Year Four | $ 120,000 | $ 120,000 |
Note 10 - Intangible Assets, _4
Note 10 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
Finite-lived intangible assets | $ 16,242 | $ 15,898 | |
Finite-lived intangible assets, Accumulated amortization | (7,277) | (6,505) | |
Finite-lived intangible assets, Impairment | (7,677) | (7,494) | |
Intangible assets, net * | [1] | 1,288 | 1,899 |
Customer Relationships [Member] | |||
Finite-lived intangible assets | 1,956 | 1,909 | |
Finite-lived intangible assets, Accumulated amortization | (1,956) | (1,909) | |
Finite-lived intangible assets, Impairment | |||
Intangible assets, net * | |||
Noncompete Agreements [Member] | |||
Finite-lived intangible assets | 1,076 | 1,051 | |
Finite-lived intangible assets, Accumulated amortization | (584) | (571) | |
Finite-lived intangible assets, Impairment | (492) | (480) | |
Intangible assets, net * | |||
Software Technologies [Member] | |||
Finite-lived intangible assets | 301 | 294 | |
Finite-lived intangible assets, Accumulated amortization | (301) | (294) | |
Finite-lived intangible assets, Impairment | |||
Intangible assets, net * | |||
Intelligent Marketing Data Service Platform [Member] | |||
Finite-lived intangible assets | 4,741 | 4,629 | |
Finite-lived intangible assets, Accumulated amortization | (1,920) | (1,876) | |
Finite-lived intangible assets, Impairment | (2,821) | (2,753) | |
Intangible assets, net * | |||
Internet Safety, Information Exchange Security and Data Encryption Software [Member] | |||
Finite-lived intangible assets | 1,909 | 1,863 | |
Finite-lived intangible assets, Accumulated amortization | (430) | (419) | |
Finite-lived intangible assets, Impairment | (1,479) | (1,444) | |
Intangible assets, net * | |||
Computer Software, Cloud Video Management System [Member] | |||
Finite-lived intangible assets | 1,395 | 1,362 | |
Finite-lived intangible assets, Accumulated amortization | (346) | (338) | |
Finite-lived intangible assets, Impairment | (1,049) | (1,024) | |
Intangible assets, net * | |||
Cloud-Computing Based Software Platforms [Member] | |||
Finite-lived intangible assets | 1,363 | 1,331 | |
Finite-lived intangible assets, Accumulated amortization | (932) | (898) | |
Finite-lived intangible assets, Impairment | (418) | (408) | |
Intangible assets, net * | 13 | 25 | |
Licensing Agreements [Member] | |||
Finite-lived intangible assets | 1,208 | 1,202 | |
Finite-lived intangible assets, Accumulated amortization | (105) | (15) | |
Finite-lived intangible assets, Impairment | |||
Intangible assets, net * | 1,103 | 1,187 | |
Other Computer Software [Member] | |||
Finite-lived intangible assets | 875 | 872 | |
Finite-lived intangible assets, Accumulated amortization | (703) | (185) | |
Finite-lived intangible assets, Impairment | |||
Intangible assets, net * | 172 | 687 | |
Domain Name [Member] | |||
Domain name | 1,418 | 1,385 | |
Domain name, Impairment | $ (1,418) | $ (1,385) | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2). |
Note 11 - Blockchain Software_2
Note 11 - Blockchain Software Application Platform Development Costs (Details Textual) $ in Thousands, ¥ in Millions | Sep. 30, 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 | $ 4,190 | $ 3,880 | ||||
Contract to Develop Blockchain Technology Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 4,940 | $ 4,500 | ||||
Contract to Develop Social Network Based Applications [Member] | ||||||
Application Development Contracts, Contract Amount | $ 440 | ¥ 3 |
Note 12 - Long-term Prepaymen_2
Note 12 - Long-term Prepayments (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Prepaid Expense, Noncurrent, Total | $ 474 | |
Advertising Resource Supplier [Member] | ||
Prepaid Expense, Noncurrent, Total | 370 | |
Professional Service Supplier [Member] | ||
Prepaid Expense, Noncurrent, Total | $ 100 |
Note 13 - Short-term Bank Loa_2
Note 13 - Short-term Bank Loan and Credit Facility (Details Textual) $ in Thousands, ¥ in Millions | Sep. 30, 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. Furthermore, 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 | Sep. 30, 2020 | Dec. 31, 2019 | |
Accrued payroll and other accruals | [1] | $ 442 | $ 491 |
Accrued Payroll and Staff Welfare [Member] | |||
Accrued payroll and other accruals | 237 | 173 | |
Accrued Operating Expenses [Member] | |||
Accrued payroll and other accruals | $ 205 | $ 318 | |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, 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 | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Operating Loss Carryforwards, Total | $ 22,800 | $ 22,800 | $ 20,300 | ||
Operating Loss Carryforwards, Taxable Income Deduction Limitations | 80.00% | ||||
Deferred Tax Assets, Valuation Allowance, Total | 10,223 | 10,223 | $ 9,190 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 140 | $ 30 | 900 | $ 420 | |
PRC Subsidiary And VIE's [Member] | |||||
Operating Loss Carryforwards, Total | $ 25,200 | $ 25,200 | $ 23,600 |
Note 15 - Taxation - Taxes Paya
Note 15 - Taxation - Taxes Payable (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | |
PRC turnover tax and surcharge payable | $ 1,280 | $ 1,244 | |
PRC enterprise income tax payable | 2,010 | 1,970 | |
Total taxes payable | [1] | $ 3,290 | $ 3,214 |
[1] | All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Furthermore, 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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Current | $ 57 | |||
Deferred | 98 | 16 | 87 | 10 |
Income tax benefit | $ 155 | $ 16 | $ 87 | $ 10 |
Note 15 - Taxation - Deferred T
Note 15 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Tax effect of net operating losses carried forward | $ 10,148 | $ 9,160 |
Bad debts provision | 890 | 743 |
Valuation allowance | (10,223) | (9,190) |
Deferred tax assets, net | $ 815 | $ 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 | Sep. 30, 2020USD ($)yr | Jun. 30, 2020USD ($)yr | Dec. 31, 2019USD ($)yr | Sep. 30, 2019USD ($)yr | Jun. 30, 2019USD ($)yr | Dec. 31, 2018USD ($)yr | |||
Warrant Liabilities (US$’000) | $ 103 | $ 39 | $ 107 | $ 255 | $ 135 | $ 606 | |||
Investor Warrants [Member] | |||||||||
Warrant Liabilities (US$’000) | 13 | 71 | 200 | 32 | 503 | ||||
Placement Agent Warrants [Member] | |||||||||
Warrant Liabilities (US$’000) | $ 103 | $ 26 | $ 36 | $ 55 | $ 103 | $ 103 | |||
Measurement Input, Share Price [Member] | Investor Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 1 | 1.17 | 1.3 | 1.35 | 1.34 | ||||
Measurement Input, Share Price [Member] | Placement Agent Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 2.02 | 1 | 1.17 | 1.3 | 1.35 | 1.34 | |||
Measurement Input, Expected Term [Member] | Investor Warrants [Member] | |||||||||
Fair value of the warrants measurement input | yr | 0.05 | 0.55 | 0.8 | 1.05 | 1.55 | ||||
Measurement Input, Expected Term [Member] | Placement Agent Warrants [Member] | |||||||||
Fair value of the warrants measurement input | yr | 0.3 | 0.55 | 1.05 | 1.3 | 1.55 | 2.05 | |||
Measurement Input, Risk Free Interest Rate [Member] | Investor Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 0.0019 | 0.0158 | 0.0179 | 0.0173 | 0.025 | ||||
Measurement Input, Risk Free Interest Rate [Member] | Placement Agent Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 0.0013 | 0.0018 | 0.0157 | 0.0157 | 0.0173 | 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 | 1.43 | 0.6 | 0.82 | 0.9 | 1.99 | ||||
Measurement Input, Price Volatility [Member] | Placement Agent Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 1.33 | 1.12 | 0.8 | 0.83 | 2.02 | 1.76 | |||
Measurement Input, Exercise Price [Member] | Investor Warrants [Member] | |||||||||
Fair value of the warrants measurement input | [1] | 1.4927 | [1] | 1.4927 | [1] | 1.4927 | 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] | 1.4927 | [1] | 1.4927 | 6.6 | 6.6 |
Measurement Input, Quoted Price [Member] | Investor Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 0.02 | 0.11 | 310 | 50 | 780 | ||||
Measurement Input, Quoted Price [Member] | Placement Agent Warrants [Member] | |||||||||
Fair value of the warrants measurement input | 0.8 | 0.2 | 0.28 | 430 | 800 | 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 | 9 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Warrant Liabilities (US$’000) | $ 103 | $ 255 | $ 103 | $ 255 | $ 39 | $ 107 | $ 135 | $ 606 |
Change in fair value of warrants | 64 | 120 | (4) | (351) | ||||
Investor Warrants [Member] | ||||||||
Warrant Liabilities (US$’000) | 200 | 200 | 13 | 71 | 32 | 503 | ||
Change in fair value of warrants | (13) | 168 | (71) | (303) | ||||
Placement Agent Warrants [Member] | ||||||||
Warrant Liabilities (US$’000) | 103 | 55 | 103 | 55 | $ 26 | $ 36 | $ 103 | $ 103 |
Change in fair value of warrants | $ 77 | $ (48) | $ 67 | $ (48) |
Note 17 - Warrant Liabilities_4
Note 17 - Warrant Liabilities - Warrant Activity (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Balance (in shares) | 774,000 | |
Weighted average remaining contractual life (Year) | 47 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) | 47 days | 229 days |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.4927 | |
Granted/Vested (in shares) | ||
Expired (in shares) | (645,000) | |
Exercised (in shares) | ||
Balance (in shares) | 129,000 | 774,000 |
Weighted average exercise price (in dollars per share) | $ 1.4927 | $ 1.4927 |
Exercisable (in shares) | 129,000 | 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 Thousands | 9 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | |
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | $ 6,210 | $ 6,210 |
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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Defined Contribution Plan, Cost | $ 30 | $ 90 | $ 80 | $ 260 |
Note 20 - Concentration of Ri_3
Note 20 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer C [Member] | ||||||||||
Concentration risk | [1] | 21.00% | 16.00% | |||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer F [Member] | ||||||||||
Concentration risk | [1] | 10.00% | [2] | [1] | ||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member] | ||||||||||
Concentration risk | 11.00% | |||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member] | ||||||||||
Concentration risk | [1] | |||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer D [Member] | ||||||||||
Concentration risk | [2] | |||||||||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer E [Member] | ||||||||||
Concentration risk | [2] | |||||||||
Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier A [Member] | ||||||||||
Concentration risk | 78.00% | 88.00% | 78.00% | 90.00% | ||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member] | ||||||||||
Concentration risk | 12.00% | |||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer F [Member] | ||||||||||
Concentration risk | [2] | |||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member] | ||||||||||
Concentration risk | 33.00% | 57.00% | ||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member] | ||||||||||
Concentration risk | [1] | 13.00% | ||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer D [Member] | ||||||||||
Concentration risk | 27.00% | [2] | ||||||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer E [Member] | ||||||||||
Concentration risk | 15.00% | [2] | ||||||||
[1] | Less than 10%. | |||||||||
[2] | No transaction incurred for the reporting period/no balance existed as of the reporting date. |
Note 21 - Commitments and Con_2
Note 21 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 33 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2018 | Feb. 28, 2018 | |
Payment for Blockchain Technology Based Applications Development Costs | $ 302 | $ 4,190 | |||
Contract to Develop Blockchain Technology Based Applications [Member] | |||||
Application Development Contracts, Contract Amount | $ 4,940 | $ 4,500 |
Note 22 - Segment Reporting (De
Note 22 - Segment Reporting (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019USD ($) | |
Number of Reportable Segments | 4 | |||
Share-based Payment Arrangement, Expense | $ 79 | $ 104 | $ 2,066 | $ 307 |
Note 22 - Segment Reporting - S
Note 22 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | ||||
Revenues | $ 12,304 | $ 15,508 | $ 27,104 | $ 39,528 | ||||||
Cost of revenues | 12,945 | 14,616 | 26,548 | 37,828 | ||||||
Total operating expenses | 763 | 1,167 | 5,256 | 3,935 | ||||||
Depreciation and amortization expense included in total operating expenses | 207 | 14 | 622 | 66 | ||||||
Operating (loss)/income | (1,404) | (275) | (4,700) | (2,235) | ||||||
Change in fair value of warrant liabilities | (64) | (120) | 4 | 351 | ||||||
Expenditure for long-term assets | 760 | 302 | 760 | |||||||
Net (loss)/income | (1,333) | (391) | $ (3,280) | $ (1,522) | (4,613) | (1,913) | ||||
Total assets | 17,010 | 17,010 | $ 18,551 | |||||||
Operating loss | (1,404) | (275) | (4,700) | (2,235) | ||||||
Net loss | (1,333) | (391) | $ (3,280) | $ (1,522) | (4,613) | (1,913) | ||||
Expenditure for long-term assets | 760 | 302 | 760 | |||||||
Corporate, Non-Segment [Member] | ||||||||||
Revenues | ||||||||||
Cost of revenues | ||||||||||
Total operating expenses | [1] | 1,350 | ||||||||
Depreciation and amortization expense included in total operating expenses | 17 | |||||||||
Operating (loss)/income | (1,350) | |||||||||
Change in fair value of warrant liabilities | 351 | |||||||||
Expenditure for long-term assets | ||||||||||
Net (loss)/income | (999) | |||||||||
Operating loss | (1,350) | |||||||||
Net loss | (999) | |||||||||
Expenditure for long-term assets | ||||||||||
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 | ||||||||||
Expenditure for long-term assets | ||||||||||
Net (loss)/income | ||||||||||
Total assets | (21,330) | (21,330) | (22,079) | |||||||
Operating loss | ||||||||||
Net loss | ||||||||||
Expenditure for long-term assets | ||||||||||
Internet Ad [Member] | Operating Segments [Member] | ||||||||||
Revenues | 11,435 | 15,508 | 24,583 | 39,528 | ||||||
Cost of revenues | 11,994 | 14,616 | 24,847 | 37,828 | ||||||
Total operating expenses | 409 | 675 | 2,361 | 2,525 | ||||||
Depreciation and amortization expense included in total operating expenses | 205 | 12 | 617 | 47 | ||||||
Operating (loss)/income | (968) | 217 | (2,625) | (825) | ||||||
Change in fair value of warrant liabilities | ||||||||||
Expenditure for long-term assets | 760 | 760 | ||||||||
Net (loss)/income | (893) | 221 | (2,543) | (854) | ||||||
Total assets | 10,830 | 10,830 | 13,332 | |||||||
Operating loss | (968) | 217 | (2,625) | (825) | ||||||
Net loss | (893) | 221 | (2,543) | (854) | ||||||
Expenditure for long-term assets | 760 | 760 | ||||||||
Ecommerce O2O Ad and Marketing Services [Member] | Operating Segments [Member] | ||||||||||
Revenues | 269 | 1,276 | ||||||||
Cost of revenues | 375 | 1,125 | ||||||||
Total operating expenses | 6 | 6 | 15 | 42 | ||||||
Depreciation and amortization expense included in total operating expenses | ||||||||||
Operating (loss)/income | (112) | (6) | 136 | (42) | ||||||
Change in fair value of warrant liabilities | ||||||||||
Expenditure for long-term assets | ||||||||||
Net (loss)/income | (94) | (6) | 110 | (42) | ||||||
Total assets | 2,093 | 2,093 | 2,075 | |||||||
Operating loss | (112) | (6) | 136 | (42) | ||||||
Net loss | (94) | (6) | 110 | (42) | ||||||
Expenditure for long-term assets | ||||||||||
Blockchain Technology [Member] | Operating Segments [Member] | ||||||||||
Revenues | ||||||||||
Cost of revenues | ||||||||||
Total operating expenses | 1 | 7 | 5 | 18 | ||||||
Depreciation and amortization expense included in total operating expenses | 1 | 1 | 2 | 2 | ||||||
Operating (loss)/income | (1) | (7) | (5) | (18) | ||||||
Change in fair value of warrant liabilities | ||||||||||
Expenditure for long-term assets | 302 | |||||||||
Net (loss)/income | (1) | (7) | (5) | (18) | ||||||
Total assets | 4,193 | 4,193 | 3,885 | |||||||
Operating loss | (1) | (7) | (5) | (18) | ||||||
Net loss | (1) | (7) | (5) | (18) | ||||||
Expenditure for long-term assets | 302 | |||||||||
Corporate Segment [Member] | ||||||||||
Revenues | 600 | 1,245 | ||||||||
Cost of revenues | 576 | 576 | ||||||||
Total operating expenses | 347 | 479 | [2] | 2,875 | [3] | |||||
Depreciation and amortization expense included in total operating expenses | 1 | 1 | 3 | |||||||
Operating (loss)/income | (323) | (479) | (2,206) | |||||||
Change in fair value of warrant liabilities | (64) | (120) | 4 | |||||||
Expenditure for long-term assets | ||||||||||
Net (loss)/income | (345) | (599) | (2,175) | |||||||
Total assets | 21,224 | 21,224 | $ 21,338 | |||||||
Operating loss | (323) | (479) | (2,206) | |||||||
Net loss | $ (345) | (599) | (2,175) | |||||||
Expenditure for long-term assets | ||||||||||
[1] | Including approximately US$307 thousands share-based compensation expenses. | |||||||||
[2] | Including approximately US$104 thousands share-based compensation expenses. | |||||||||
[3] | Including approximately US$2,066 thousands share-based compensation expenses. |
Note 23 - Loss Per Share (Detai
Note 23 - Loss Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 129,000 | 774,000 | 129,000 | 774,000 |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 277,976 | 835,216 | 277,976 | 835,216 |
Note 23 - Loss Per Share - Basi
Note 23 - Loss Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net loss attributable to ZW Data Technologies Inc. (numerator for basic and diluted loss per share) | $ (1,333) | $ (388) | $ (4,611) | $ (1,905) |
Weighted average number of common shares outstanding -Basic and diluted (in shares) | 21,720,259 | 16,517,440 | 21,271,301 | 16,447,233 |
Loss per share-Basic and diluted (in dollars per share) | $ (0.06) | $ (0.02) | $ (0.22) | $ (0.12) |
Note 24 - Share-based Compens_3
Note 24 - Share-based Compensation Expenses (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Aug. 31, 2020 | Mar. 31, 2020 | Feb. 28, 2020 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share Price (in dollars per share) | $ 1.11 | $ 1.11 | ||||||||||
Share-based Payment Arrangement, Expense | $ 79 | $ 104 | $ 2,066 | $ 307 | ||||||||
Technical Consulting and Advisory Services Term (Year) | 1 year | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | 400 | 400 | ||||||||||
Forecast [Member] | ||||||||||||
Share-based Payment Arrangement, Expense | $ 40 | $ 280 | $ 80 | |||||||||
Restricted Stock [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 50 | |||||||||||
Share Price (in dollars per share) | $ 1.36 | |||||||||||
Share-based Payment Arrangement, Expense | 10 | 10 | ||||||||||
Issuance of Stock and Warrants for Services or Claims | $ 70 | |||||||||||
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 | |||||||||||
Share Price (in dollars per share) | $ 1.11 | $ 1.11 | ||||||||||
Management Consulting and Advisor Service Term (Year) | 2 years | |||||||||||
Restricted Stock [Member] | Management Consulting and Advisor Service Providers [Member] | ||||||||||||
Share-based Payment Arrangement, Expense | 60 | 140 | ||||||||||
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 | $ 20 | $ 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 | |||||||||||
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 |
Note 24 - Share-based Compens_4
Note 24 - Share-based Compensation Expenses - Share-based Compensation Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Share-based Compensation expenses | $ 79 | $ 104 | $ 2,066 | $ 307 |
Selling and Marketing Expense [Member] | ||||
Share-based Compensation expenses | 122 | |||
General and Administrative Expense [Member] | ||||
Share-based Compensation expenses | 79 | 104 | 1,798 | 307 |
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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Dec. 31, 2019 | |
Options outstanding, number of underlying shares (in shares) | 755,216 | |
Options outstanding, weighted average remaining contractual life (Year) | 1 year 58 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) | 1 year 58 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, expired (in shares) | (477,240) | |
Options outstanding, expired, weighted average exercise price (in dollars per share) | $ 2.10 | |
Options outstanding, expired (in shares) | (477,240) | |
Option exercisable, granted/vested, weighted average exercise price (in dollars per share) | $ 2.10 | |
Options outstanding, exercised (in shares) | 0 | |
Options outstanding, number of underlying shares (in shares) | 277,976 | 755,216 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 3 | $ 2.43 |
Option exercisable, number of underlying shares (in shares) | 277,976 | 755,216 |
Option exercisable, weighted average exercise price (in dollars per share) | $ 3 | $ 2.43 |
Note 25 - Subsequent Event (Det
Note 25 - Subsequent Event (Details Textual) - Subsequent Event [Member] | Oct. 31, 2020 |
Equity Method Investment, Ownership Percentage | 51.00% |
Unrelated Party [Member] | |
Equity Method Investment, Ownership Percentage | 49.00% |