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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 1,555 $ 1,603
Accounts receivable, net of allowance for doubtful accounts of $3,504 and $3,148, respectively 3,070 3,260
Prepayment and deposit to suppliers 4,946 6,980
Due from related parties, net 51 81
Other current assets, net 831 11
Total current assets 10,453 11,935
Long-term investments 34 35
Operating lease right-of-use assets 9 12
Property and equipment, net 75 78
Intangible assets, net 1,698 1,899
Blockchain platform applications development costs 4,175 3,879
Long-term prepayments 1,344
Deferred tax assets, net 706 713
Total Assets 18,494 18,551
Current liabilities    
Short-term bank loan [1] 430
Accounts payable [1] 257 408
Advances from customers [1] 2,104 2,006
Accrued payroll and other accruals [1] 524 491
Taxes payable [1] 3,261 3,214
Lease payment liabilities related to short-term leases [1] 170 136
Other current liabilities [1] 442 221
Warrant liabilities 61 107
Total current liabilities 6,819 7,013
Long-term liabilities:    
Long-term borrowing from a director 124 125
Total Liabilities 6,943 7,138
Commitments and contingencies
Equity:    
Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 21,691,926 shares and 19,629,403 shares at March 31, 2020 and December 31, 2019, respectively) 22 20
Additional paid-in capital 45,485 43,111
Statutory reserves 2,607 2,607
Accumulated deficit (38,083) (35,773)
Accumulated other comprehensive income 1,576 1,505
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity 11,607 11,470
Noncontrolling interests (56) (57)
Total equity 11,551 11,413
Total Liabilities and Equity $ 18,494 $ 18,551
[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).