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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents $ 3,892 $ 7,912
Restricted cash 3,787 4,388
Accounts receivable, net 34,128 25,715
Prepaid expenses and other current assets 2,101 1,987
Total current assets 43,908 40,002
Deferred tax assets, net 337 92
Property and equipment, net 1,784 1,493
Goodwill 712 314
Other assets 415 448
Total assets 47,156 42,349
CURRENT LIABILITIES:    
Notes payable-banks 8,352 11,412
Accounts payable 3,211 3,079
Accrued expenses and other current liabilities 26,502 25,065
Income tax payable 1,130 89
Value added tax (VAT) payable 6,170 5,362
Total current liabilities 45,365 45,007
Convertible notes payable to a related party, including accrued interest 34,511 39,403
Other liabilities 757 147
Total liabilities 80,633 84,557
COMMITMENTS AND CONTINGENCIES (NOTE 14)
SHAREHOLDERS' DEFICIT:    
Common stock, 0.45 par value; 33,333,334 shares authorized as of December 31, 2016 and 2015; 21,000,000 and 10,961,698 shares issued and outstanding as of December 31, 2016 and 2015, respectively 10,655 5,928
Additional paid-in capital 23,128 21,267
Accumulated deficit (59,554) (61,896)
Accumulated other comprehensive loss (7,859) (7,507)
Non controlling interest in subsidiaries 153
Total shareholders' deficit (33,477) (42,208)
Total liabilities and shareholders' deficit $ 47,156 $ 42,349