Note 9 - Assets and Liabilities Classified as Held for Sale

3 Months Ended

Mar. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

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

9. Assets and liabilities classified as held for sale

In the fourth fiscal quarter of 2015, the Company committed to a plan to sell one of its internet advertising operating VIEs, Beijing Chuang Fu Tian Xia, also known as liansuo.com., which did not qualify for presentation as a discontinued operation, as it was not considered a significant portion of the Company’s internet advertising and data service 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 each reporting date and presented separately in the asset and liability section, respectively. The assets and liabilities held by the disposal group are as follows:

	March 31, 2016			December 31, 2015
	US$(’000)			US$(’000)
	(Unaudited)
Assets classified as held for sale
Cash and cash equivalents		188			181
Accounts receivable, net		98			53
Other receivables, net		101			95
Advance to suppliers		381			366
Property and equipment, net		39			43
Deferred tax assets		300			298
Goodwill allocated to the disposal group(1)		919			914
Inter-co balances elimination(2)		(68	)		(68	)
Total assets classified as held for sale		1,958			1,882
Liabilities classified as held for sale
Accounts payable		225			154
Advance from customers		595			588
Accrued payroll and other accruals		33			50
Taxes payable		4			9
Other payables		380			364
Inter-co balances elimination(2)		(273	)		(252	)
Total liabilities classified as held for sale		964			913

(1) Liansuo.com (the disposal group) is a portion of the Company’s internet advertising and data service reporting unit that constitutes a business. Goodwill allocated to the disposal group is calculated based on the relative fair value of liansuo.com and the remaining portion of the reporting unit that will be retained.

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