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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 1,055 $ 1,603
Accounts receivable, net of allowance for doubtful accounts of $3,844 and $3,148, respectively 2,520 3,260
Prepayment and deposit to suppliers 5,078 6,980
Due from related parties, net 52 81
Other current assets, net 959 11
Total current assets 9,664 11,935
Long-term investments 61 35
Operating lease right-of-use assets 7 12
Property and equipment, net 73 78
Intangible assets, net 1,493 1,899
Blockchain platform applications development costs 4,176 3,879
Long-term prepayments 909
Deferred tax assets, net 691 713
Total Assets 17,074 18,551
Current liabilities    
Short-term bank loan [1] 430
Accounts payable [1] 395 408
Advance from customers [1] 1,619 2,006
Accrued payroll and other accruals [1] 431 491
Taxes payable [1] 3,258 3,214
Lease payment liability related to short-term leases [1] 177 136
Other current liabilities [1] 446 221
Warrant liabilities 39 107
Total current liabilities 6,365 7,013
Long-term liabilities:    
Long-term borrowing from a director 124 125
Total Liabilities 6,489 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 June 30, 2020 and December 31, 2019, respectively) 22 20
Additional paid-in capital 45,493 43,111
Statutory reserves 2,607 2,607
Accumulated deficit (39,051) (35,773)
Accumulated other comprehensive income 1,572 1,505
Total ChinaNet Online Holdings, Inc.’s stockholders’ equity 10,643 11,470
Noncontrolling interests (58) (57)
Total equity 10,585 11,413
Total Liabilities and Equity $ 17,074 $ 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).