Note 9 - Assets and Liabilities Classified as Held for Sale

12 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

9. Assets and liabilities classified as held for sale

As discussed in Note 2, the Company had committed to a plan to sell one of its internet advertising operating VIEs, Beijing Chuang Fu Tian Xia, also known as liansuo.com., in exchange for cash to continue the expansion of its services distribution channels and to support the development of its data services, which did not qualify for presentation as a discontinued operation in accordance with ASC Topic 205, as it is not considered a significant portion of the Company’s internet advertising business segment. The Company expects to consummate the transaction before the end of fiscal 2016 and does not expect to have any continued involvement with the entity after the disposal date.

The Company classified the assets and liabilities of the disposal group as held for sale as of December 31, 2015 and presented separately in the asset and liability section, respectively, in accordance with ASC Topic 360. The assets and liabilities held by the disposal group after allocation of an approximately US$914,000 of goodwill from the internet advertising reporting unit based on the relative fair value of the disposal group and the remaining portion of the reporting unit that will be retained are as follows:

	As of December 31, 2015
	US$(’000)
Assets classified as held for sale
Cash and cash equivalents		181
Accounts receivable, net		53
Other receivables, net		95
Advance to suppliers		366
Property and equipment, net		43
Deferred tax assets		298
Goodwill allocated to the disposal group		914
Inter-co balances elimination(1)		(68	)
Total assets classified as held for sale		1,882
Liabilities classified as held for sale
Accounts payable		154
Advance from customers		588
Accrued payroll and other accruals		50
Taxes payable		9
Other payables		364
Inter-co balances elimination(1)		(252	)
Total liabilities classified as held for sale		913

(1) Inter-company balances are part of the disposal group’s assets or liabilities, but were eliminated in deriving the consolidated financial statements.