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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 1,603 $ 3,742
Accounts receivable, net of allowance for doubtful accounts of $3,148 and $3,393, respectively 3,260 6,359
Prepayment and deposit to suppliers 6,980 2,154
Due from related parties, net 81 226
Other current assets, net 11 19
Total current assets 11,935 12,500
Long-term investments 35
Operating lease right-of-use assets 12
Property and equipment, net 78 142
Intangible assets, net 1,899 45
Blockchain platform applications development costs 3,879 3,725
Deferred tax assets, net 713 556
Total Assets 18,551 16,968
Current liabilities    
Short-term bank loan [1] 430 874
Accounts payable [1] 408 2,869
Advances from customers [1] 2,006 1,061
Accrued payroll and other accruals [1] 491 521
Taxes payable [1] 3,214 2,997
Lease payment liabilities related to short-term leases 136 [1]
Other current liabilities [1] 221 118
Warrant liabilities 107 606
Total current liabilities 7,013 9,046
Long-term liabilities:    
Long-term borrowing from a director 125 128
Total Liabilities 7,138 9,174
Commitments and contingencies
Equity:    
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 19,629,403 shares and 16,382,543 shares at December 31, 2019 and 2018, respectively) 20 16
Additional paid-in capital 43,111 38,275
Statutory reserves 2,607 2,607
Accumulated deficit (35,773) (34,512)
Accumulated other comprehensive income 1,505 1,457
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity 11,470 7,843
Noncontrolling interests (57) (49)
Total equity 11,413 7,794
Total Liabilities and Equity $ 18,551 $ 16,968
[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).