Note 7 - Other Current Assets, Net

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Other Current Assets [Text Block]

7. Other current assets, net

As of

September 30, 2019

and

December 31, 2018,

other current assets primarily included a short-term working capital loan of

RMB1.0

million (approximately

US$0.14

million) lent to a former unconsolidated investee of the Company, and an approximately

RMB11

million (approximately

US$1.57

million) overdue contractual deposits in the aggregate, which were related to advertising resources purchase contracts that had been completed with

no

further cooperation. Based on the assessment of the collectability of these overdue deposits and short-term working capital loan, the Company had provided full allowance against these doubtful accounts as of

September 30, 2019

and

December 31, 2018.

For the

nine

and

three

months ended

September 30, 2018,

approximately

US$0.76

million allowance for doubtful accounts was provided to against the Company’s other receivables. As of

September 30, 2019,

the Company charged off the approximately

US$0.14

million short-term working capital loan and

US$0.83

million overdue deposits receivable against the allowance, respectively, because for this portion of debts, a

ll means of collection have been exhausted and the potential for recovery is considered remote

.

As of

September 30, 2019

and

December 31, 2018,

the remaining balances of other current assets represented small amounts of staff advances for business operations.