Note 21 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

21. Commitments and contingencies

In

2018,

the Company entered into contracts with

two

unrelated

third

parties in relation to the development of the Company’s blockchain technology-powered platform applications. Total contract amount of these

two

contracts was approximately

US$4.92

million. As of

March 31, 2020,

the Company had paid approximately

US$4.18

million in the aggerate, and the remaining unpaid contract amount is expected to be paid during the year ending

December 31, 2020.

The Company is currently

not

a party to any legal or administrative proceedings and are

not

aware of any pending or threatened legal or administrative proceedings against us in all material aspects. The Company

may

from time to time become a party to various legal or administrative proceedings arising in its ordinary course of business.