XML 81 R2.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 812 $ 3,717
Term deposit, restricted 25 25
Accounts receivable, net of allowance for doubtful accounts of $1,324 and $3,393, respectively 6,020 6,359
Prepayment and deposit to suppliers, net 6,906 2,154
Due from related parties, net 226
Other current assets, net 7 19
Total current assets 13,770 12,500
Long-term investments 35
Property and equipment, net 87 142
Intangible assets, net 31 45
Operating lease right-of-use assets 14
Blockchain application platform development costs 3,714 3,725
Prepayment for software system development 760
Deferred tax assets, net 549 556
Total Assets 18,960 16,968
Current liabilities    
Short-term bank loan [1] 424 874
Accounts payable [1] 899 2,869
Accrued payroll and other accruals [1] 275 521
Taxes payable [1] 3,027 2,997
Lease payment liability related to short-term leases 174 [1]
Other current liabilities [1] 310 118
Warrant liabilities 255 606
Total current liabilities 10,425 9,046
Long-term liabilities:    
Long-term borrowing from a director 124 128
Total Liabilities 10,549 9,174
Commitments and contingencies
Equity:    
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 18,020,973 shares and 16,382,543 shares at September 30, 2019 and December 31, 2018, respectively) 18 16
Additional paid-in capital 40,706 38,275
Statutory reserves 2,607 2,607
Accumulated deficit (36,417) (34,512)
Accumulated other comprehensive income 1,552 1,457
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity 8,466 7,843
Noncontrolling interests (55) (49)
Total equity 8,411 7,794
Total Liabilities and Equity 18,960 16,968
Unrelated Parties [Member]    
Current liabilities    
Advance from customers [1] 5,052 1,061
Related Parties [Member]    
Current liabilities    
Advance from customers [1] $ 9
[1] All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).