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Note 24 - Share-based Compensation Expenses
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Share-based Payment Arrangement [Text Block]
24.
 Share-based compensation expenses
 
In
February 2020,
the Company granted and issued in the aggregate of approximately
1.60
million fully-vested shares of the Company's restricted common stock to its management and employees for their services provided. These shares were valued at the closing bid price of the Company's common stock on the date of grant, which is
US$1.18
per share. Total compensation expenses of approximately
US$1.89
million was recorded for the
nine
months ended
September 30, 2020.
 
In
March 2020,
the Company granted and issued
0.03
million fully-vested shares of the Company's restricted common stock to
one
of its independent directors in exchange for his services for the year ending
December 31, 2020.
These shares were valued at the closing bid price of the Company's common stock on the date of grant, which is
US$1.11
per share. Total compensation expenses recognized for the
nine
and
three
months ended
September 30, 2020
was approximately
US$0.02
million and
US$0.01
million, respectively.
 
In
March 2020,
the Company granted and issued
0.43
million shares of the Company restricted common stock to a management consulting and advisory service provider in exchange for its service for a
two
-year period until
February 2022.
According to the service agreement, these shares are fully-vested upon issuance at the contract inception and shall
not
be subject to forfeiture upon termination of the agreement. The Company valued these shares at
US$1.11
per share, the closing bid price of the Company's common stock on the grant date of these shares and recorded the related total cost of approximately
US$0.48
million as a prepayment asset in prepayment and deposit to suppliers account upon grant and issuance of these fully-vested and nonforfeitable shares. Total compensation expenses amortized for the
nine
and
three
months ended
September 30, 2020
was approximately
US$0.14
million and
US$0.06
million.
 
In
August 2020,
the Company granted and issued
0.05
million shares of the Company restricted common stock to a information technology consulting and advisory service provider in exchange for its service for a
one
-year period ending
July 2021.
According to the service agreement, these shares are fully-vested upon issuance at the contract inception and shall
not
be subject to forfeiture upon termination of the agreement. The Company valued these shares at
US$1.36
per share, the closing bid price of the Company's common stock on the grant date of these shares and recorded the related total cost of approximately
US$0.07
million as a prepayment asset in prepayment and deposit to suppliers account upon grant and issuance of these fully-vested and nonforfeitable shares. Total compensation expenses amortized for the
nine
and
three
months ended
September 30, 2020
was approximately
US
$0.01
million for both periods.
 
The table below summarized share-based compensation expenses recorded for the
nine
and
three
months ended
September 30, 2020
and
2019,
respectively:
 
    Nine Months Ended September 30,   Three Months Ended September 30,
    2020   2019   2020   2019
    US$('000)   US$('000)   US$('000)   US$('000)
    (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                 
Sales and marketing expenses    
122
      
-
      
-
      
-
  
General and administrative expenses    
1,798
      
307
      
79
      
104
  
Research and development expenses    
146
      
-
      
-
      
-
  
Total    
2,066
      
307
      
79
      
104
  
 
The aggregate unrecognized share-based compensation expenses as of
September 30, 2020
was approximately
US$0.40
million, of which approximately
US$0.08
million will be recognized for the year ending
December 31, 2020,
approximately
US$0.28
million will be recognized for the year ending
December 31, 2021
and approximately
US$0.04
million will be recognized for the year ending
December 31, 2022.
 
Options issued and outstanding as of
September 30, 2020
and their movements during the
nine
months then ended are as follows:
 
    Option Outstanding   Option Exercisable
      Number of underlying shares       Weighted
Average
Remaining
Contractual
Life (Years)		     Weighted
Average
Exercise
Price		     Number of underlying shares       Weighted
Average
Remaining
Contractual
Life (Years)		     Weighted
Average
Exercise
Price
                         
Balance, January 1, 2020    
755,216
      
1.15
     $
2.43
      
755,216
      
1.15
     $
2.43
  
Granted/Vested    
-
      
 
      
 
      
-
      
 
      
 
  
Expired    
(477,240
 )    
 
     $
2.10
      
(477,240
 )    
 
     $
2.10
  
Exercised    
-
      
 
      
 
      
-
      
 
      
 
  
Balance, September 30, 2020 (Unaudited)    
277,976
      
1.16
     $
3.00
      
277,976
      
1.16
     $
3.00