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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net (loss)/income $ (10,124,000) $ (1,826,000)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 427,000 707,000
Share-based compensation expenses 151,000 348,000
Provision for allowances for doubtful accounts 794,000 (29,000)
Impairment on long-term investments 471,000
Impairment on intangible assets 1,878,000
Impairment on goodwill 5,412,000
Change in fair value of warrant liabilities (948,000)
Deferred taxes 689,000 113,000
Changes in operating assets and liabilities    
Accounts receivable (257,000) (1,666,000)
Other receivables (16,000) (19,000)
Prepayment and deposit to suppliers 1,504,000 136,000
Due from related parties 23,000 (10,000)
Accounts payable (1,402,000) 24,000
Advances from customers (2,197,000) 1,050,000
Accrued payroll and other accruals 154,000 225,000
Other payables (495,000) 86,000
Taxes payable (77,000) 38,000
Net cash used in operating activities (4,321,000) (1,273,000)
Cash flows from investing activities    
Purchase of office equipment (6,000) (2,000)
Short-term loan to unrelated parties (2,111,000)
Repayment of short-term loan from unrelated parties 4,668,000
Payment for acquisition of noncontrolling interest (1,177,000)
Prepayment for blockchain and other software applications development (3,752,000)
Purchase of software technology (447,000)
Net cash used in investing activities (2,825,000) (2,000)
Cash flows from financing activities    
Proceeds from issuance of common stock and warrant (net of cash issuance cost of US$809) 10,263,000
Repayment to investors related to terminated security purchase agreements (957,000)
Net cash provided by financing activities 9,306,000
Effect of exchange rate fluctuation on cash and cash equivalents (26,000) 56,000
Net increase/(decrease) in cash and cash equivalents 2,134,000 (1,219,000)
Cash and cash equivalents at beginning of the period 2,952,000 3,035,000
Cash and cash equivalents at end of the period 5,086,000 1,816,000
Supplemental disclosure of cash flow information    
Income tax paid
Interest expense paid 130,000 19,000
Non-cash transaction disclosure    
Payable for acquisition of noncontrolling interest $ 756,000