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Note 24 - Share-based Compensation Expenses
 12 Months Ended
Dec. 31, 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 year ended
December 31, 2020.
 
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 year ended
December 31, 2020
was approximately
US$0.20
million.
 
In
August 2020,
the Company granted and issued
0.05
million shares of the Company restricted common stock to an 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 year ended
December 31, 2020
was approximately
US$0.03
million.
 
For each of the year ended
December 31, 2020
and
2019,
the Company granted and issued
0.03
million shares of the Company's restricted common stock to
one
of its independent directors, in exchange for his services to the Company. The shares issued for the years ended
December 31, 2020
and
2019
were valued at
US$1.11
and
US$1.77
per share, respectively, the closing bid price of the Company's common stock on the respective grant date. Total compensation expenses recognized was approximately
US$0.03
million and
US$0.05
million for the years ended
December 31, 2020
and
2019,
respectively.
 
For the year ended
December 31, 2019,
the Company also amortized an
approximately
US$0.34
million compensation expense related to
fully-vested and nonforfeitable
restricted common stock granted and issued to a
management consulting and advisor service provider
in
December 2018.
 
The table below summarized share-based compensation expenses recorded for the years ended
December 31, 2020
and
2019,
respectively:
 
    Year Ended December 31,
    2020   2019
    US$('000)   US$('000)
         
Sales and marketing expenses    
122
      
-
  
General and administrative expenses    
1,884
      
393
  
Research and development expenses    
146
      
-
  
Total    
2,152
      
393
  
 
The aggregate unrecognized share-based compensation expenses as of
December 31, 2020
was approximately
US$0.32
million, of which 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 at
December 31, 2020
and their movements for the
two
years 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, 2019    
835,216
      
2.04
     $
2.49
      
835,216
      
2.04
     $
2.49
  
Granted/Vested    
-
      
 
      
 
      
-
      
 
      
 
  
Forfeited    
-
      
 
      
 
      
-
      
 
      
 
  
Expired    
(80,000
 )    
 
     $
3.08
      
(80,000
 )    
 
     $
3.08
  
Exercised    
-
      
 
      
 
      
-
      
 
      
 
  
Balance, December 31, 2019    
755,216
      
1.15
     $
2.43
      
755,216
      
1.15
     $
2.43
  
Granted/Vested    
-
      
 
      
 
      
-
      
 
      
 
  
Forfeited    
-
      
 
      
 
      
-
      
 
      
 
  
Expired    
(477,240
 )    
 
     $
2.10
      
(477,240
 )    
 
     $
2.10
  
Exercised    
-
      
 
      
 
      
-
      
 
      
 
  
Balance, December 31, 2020    
277,976
      
0.91
     $
3.00
      
277,976
      
0.91
     $
3.00
  
 
The aggregate intrinsic value of the above options was
zero
as of
December 31, 2020
and
2019,
as their respective exercise prices were all higher than the Company's closing stock price on the last trading day of each year.