Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Basis of Accounting, Policy [Policy Text Block]

a)	Basis of presentation

The consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).

Consolidation, Policy [Policy Text Block]

b)	Principles of consolidation

The consolidated financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation.

Use of Estimates, Policy [Policy Text Block]

c)	Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

d)	Foreign currency translation and transactions

The Company conducts substantially all of its operations through its PRC operating subsidiaries and VIEs, PRC is the primary economic environment in which the Company operates. For financial reporting purposes, the financial statements of the Company's PRC operating subsidiaries and VIEs, which are prepared using the functional currency of the PRC, Renminbi (“RMB”), are translated into the Company's reporting currency, the United States Dollar (“U.S. dollar”). Assets and liabilities are translated using the exchange rate at each balance sheet date. Revenue and expenses are translated using average rates prevailing during each reporting period, and stockholders' equity is translated at historical exchange rates. Adjustments resulting from the translation are recorded as a separate component of accumulated other comprehensive income in stockholders' equity.

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transactions. The resulting exchange differences are included in the determination of net loss of the consolidated statements of operations and comprehensive loss for the respective periods.

The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the consolidated financial statements are as follows:

	As of December 31,
	2020		2019
Balance sheet items, except for equity accounts		6.5249		6.9762

	Year Ended December 31,
	2020		2019
Items in the statements of operations and comprehensive loss		6.8976		6.8985

representation is made that the RMB amounts could have been or could be converted into US$ at the above rates.

Cash and Cash Equivalents, Policy [Policy Text Block]

e)	Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and bank deposits, which are unrestricted as to withdrawal and use. The Company considers all highly liquid investments with original maturities of

three

months or less at the time of purchase to be cash equivalents.

Accounts Receivable [Policy Text Block]

Accounts receivable, net

Accounts receivable are recorded at net realizable value consisting of the carrying amount less an allowance for uncollectible accounts as needed. The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing accounts receivable. The Company determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company did

not

have any off-balance-sheet credit exposure relating to its customers, suppliers or others. For the years ended

December 31, 2020

and

2019,

the Company recorded approximately

US$0.83

million and

US$2.34

million of allowances for doubtful accounts against its accounts receivable, respectively. For the year ended

December 31, 2019,

the Company also charged off approximately

US$2.5

million account receivable balances

against the related allowance for doubtful accounts due to collection of these balances were considered remote

Investment, Policy [Policy Text Block]

g)	Long-term investments

The Company's investments in equity securities and other ownership interests (except those accounted for under the equity method of accounting or those that resulted in consolidation of the investee), i.e. investments in investee companies that are

not

consolidated, and over which the Company does

not

exercise significant influence, are accounted for in accordance with ASC Topic

321:

“Investments-Equity securities”. The Company generally owns less than

20%

interest in the voting securities of these investee companies. In accordance with ASC

321

the Company chooses to measure these investments which do

not

have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company and records the carrying value of these investments as “Long-term investments” in the Company's consolidated balance sheets.

In accordance with ASC

321

the Company writes down the carrying value of these investments to its fair value if a qualitative assessment indicates that the investment is impaired, and the fair value of the investment is less than its carrying value, as determined using the guidance in ASC

321

For the years ended

December 31, 2020

and

2019,

the Company did

not

record any impairment loss associated with its long-term investments.

Property, Plant and Equipment, Policy [Policy Text Block]

h)	Property and equipment, net

Property and equipment are recorded at cost less accumulated depreciation/amortization. Depreciation/amortization is calculated on the straight-line method after taking into account their respective estimated residual values over the following estimated useful lives:

Leasehold improvements (years)		3
Vehicles (years)		5
Office equipment (years)	3	-	5
Electronic devices (years)		5

Depreciation/amortization expenses of fixed assets are included in sales and marketing expenses, general and administrative expenses and research and development expenses. Leasehold improvements are amortized over the lesser of the lease term or estimated useful life.

When property and equipment are retired or otherwise disposed of, resulting gain or loss is included in net income or loss in the period of disposition. Maintenance and repairs which do

not

improve or extend the expected useful lives of the assets are charged to expenses as incurred, whereas the cost of renewals and betterments that extend the useful life of the assets are capitalized as additions to the related assets.

Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible assets, net

The Company accounted for cost related to internal-used software in accordance with ASC Topic

350

“Intangibles-Goodwill and Other-Internal-Use Software”. Internal-use software is initially recorded at cost and amortized on a straight-line basis over the estimated useful economic life of

years.

Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]

j)	Impairment of long-lived assets

In accordance with ASC

360

35,

long-lived assets, which include tangible long-lived assets and intangible long-lived assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset

may

not

be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount of the asset and its fair value.

For the years ended

December 31, 2020

and

2019,

the Company did

not

record any impairment loss associated with its long-lived assets.

Noncontrolling Interest [Policy Text Block]

Noncontrolling interest

The Company accounts for noncontrolling interest in accordance with ASC Topic

810

45,

which requires the Company to present noncontrolling interests as a separate component of total shareholders' equity on the consolidated balance sheet and the consolidated net income/(loss) attributable to the parent and the noncontrolling interest be clearly identified and presented on the face of the consolidated statement of operations and comprehensive loss. ASC Topic

810

also requires that losses attributable to the parent and the noncontrolling interest in a subsidiary be attributed to those interests even if it results in a deficit noncontrolling interest balance.

Fair Value Measurement, Policy [Policy Text Block]

l)	Fair value

The Company's financial instruments primarily consist of cash and cash equivalents, accounts receivable and accounts payable. The carrying values of these financial instruments approximate fair values due to their short maturities.

ASC Topic

820

"Fair Value Measurement and Disclosures," defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. There are

three

levels of inputs that

may

be used to measure fair value:

Level

- Quoted prices in active markets for identical assets or liabilities.

Level

- Observable inputs other than Level

prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are

not

active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level

- Unobservable inputs that are supported by little or

market activity and that are significant to the fair value of the assets or liabilities.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter.

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of

December 31, 2020

and

2019

is as follows:

Fair value measurement at reporting date using

As of

December 31, 2020

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$('000)

Warrant liabilities

1,505

Fair value measurement at reporting date using

As of

December 31, 2019

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$('000)

Warrant liabilities

107

Significant unobservable inputs utilized to determine the fair value of the Company's warrant liabilities was disclosed in Note

16.

Revenue from Contract with Customer [Policy Text Block]

m)	Revenue recognition

In accordance with ASC Topic

606,

revenues are recognized when control of the promised goods or services is transferred to the Company's customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Company performs the following

five

-step analysis: (

) identify the contract(s) with a customer; (

) identify the performance obligations in the contract; (

) determine the transaction price; (

) allocate the transaction price to the performance obligations in the contract; (

) recognize revenue when (or as) the entity satisfies a performance obligation.

Multiple performance obligations included in the Company's contracts with customers are neither capable of being distinct, that is, can benefit the customer on its own or together with other readily available resources, nor is distinct within the context of the contract, that is, the promise to transfer the service separately identifiable from other promises in the contract.

The Company's contract with customers do

not

include significant financing component and any variable consideration.

Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from customers was insignificant for both the years ended

December 31, 2020

and

2019.

The Company does

not

believe that significant management judgements are involved in revenue recognition, but the amount and timing of the Company's revenues could be different for any period if management made different judgments or utilized different estimates. Generally, the Company recognizes revenue under ASC Topic

606

for each type of its performance obligation either over time or at a point in time as follows:

Distribution of the right to use search engine marketing service

Revenue from distribution of the right to use search engine marketing service is recognized on a monthly basis based on the direct cost consumed through search engines for providing such services with a premium (“over time”). The Company recognizes the revenue on a gross basis, because the Company determines that it is a principal in the transaction who control the goods or services before they are transferred to the customers.

Online advertising placement service/ecommerce advertising placement service

For online advertising placement service contracts and other ecommerce advertising placement service contracts that are established based on a fixed price scheme with the related advertisement placements obligation, the Company provides advertisement placements in specified locations on the Company's advertising portals for agreed periods and/or place the advertisements onto the Company's purchased advertisement time on specific outdoor billboards for agreed periods. Revenue is recognized ratably over the period the advertisement is placed and, as such, the Company considers the services to have been delivered (“over time”).

Sales of effective sales lead information

For advertising contracts related to purchase of effective sales lead information, revenue is recognized based on a fixed price per sales lead and the quantity of effective sales lead, when information is delivered and accepted by customers (“point in time”).

Technical solution services

Revenues generated from providing technical solution services

were either

recognized ratably over the period the services were provided, if the customers simultaneously received and consumed the benefits provided by the Company's performance (“over time”) or

recognized upon completion of the service performance obligation, when the Company had the enforceable right to the payment of the services delivered to the customers

(“point in time”)

Sales of software

Revenue generated from sales of software was recognized

upon control of the promised goods was transferred to the customer

and the Company has

performance obligation after the delivery (“point in time”)

The following tables present the Company's revenues disaggregated by products and services and timing of revenue recognition:

	Year Ended December 31,
	2020		2019
	US$('000)		US$('000)
Internet advertising and related service
--distribution of the right to use search engine marketing service		25,997		41,361
--online advertising placements		8,421		14,552
--sales of effective sales lead information		-		255
--data and technical services		1,200		710
Ecommerce O2O advertising and marketing services		1,545		-
Technical solution services		1,245		-
Software sales		-		1,202
Total revenues	$	38,408	$	58,080

	Year Ended December 31,
	2020		2019
	US$('000)		US$('000)

Revenue recognized over time		37,163		55,913
Revenue recognized at a point in time		1,245		2,167
Total revenues	$	38,408	$	58,080

Contract costs

For the years ended

December 31, 2020

and

2019,

the Company did

not

have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers, that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract.

Contract balances

The Company evaluates overall economic conditions, its working capital status and customer specific credit and negotiates the payment terms of a contract with individual customer on a case-by-case basis in its normal course of business.

Advances received from customers related to unsatisfied performance obligations are recoded as contract liabilities (advance from customers), which will be realized as revenues upon the satisfaction of performance obligations through the transfer of related promised goods and services to customers.

For contracts without a full or any advance payments required, the Company bills the customers any unpaid contract price immediately upon satisfaction of the related performance obligations when revenue is recognized.

The Company does

not

have any contract assets (unbilled receivables) since revenue is recognized when control of the promised goods or services is transferred and the payment from customers is

not

contingent on a future event.

The Company's contract liabilities primarily consist of advance from customers related to unsatisfied performance obligations in relation to online advertising placement service and distribution of the right to use search engine marketing service. All contract liabilities are expected to be recognized as revenue within

one

year. The table below summarized the movement of the Company's contract liabilities for the

two

years ended

December 31, 2020:

	Contract liabilities
	US$('000)

Balance as of January 1, 2019		1,061
Exchange translation adjustment		(17	)
Revenue recognized from beginning contract liability balance		(1,027	)
Advances received from customers related to unsatisfied performance obligations		1,989
Balance as of December 31, 2019		2,006
Exchange translation adjustment		139
Revenue recognized from beginning contract liability balance		(2,032	)
Advances received from customers related to unsatisfied performance obligations		1,323
Balance as of December 31, 2020		1,436

For the years ended

December 31, 2020

and

2019,

there is

revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

The Company has elected to apply the practical expedient in paragraph ASC Topic

606

and did

not

disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of

December 31, 2020

and

2019,

because all performance obligations of the Company's contracts with customers have an original expected duration of

one

year or less.

Cost of Goods and Service [Policy Text Block]

n)	Cost of revenues

Cost of revenues primarily includes the cost of internet and other forms of advertising resources and related technical services purchased from

third

parties, and other direct cost associated with providing services.

Research and Development Expense, Policy [Policy Text Block]

o)	Research and development expenses

The Company accounts for expenses for the enhancement, maintenance and technical support to the Company's Internet platforms and intellectual properties that are used in its daily operations in research and development expenses. Research and development costs are charged to expense when incurred. Expenses for research and development for the years ended

December 31, 2020

and

2019

were approximately

US$0.54

million and

US$0.87

million, respectively.

Lessee, Leases [Policy Text Block]

Lease

The Company leases office spaces from unrelated parties in its normal course of business. Other than these office spaces lease contracts, the Company does

not

have any other contract that is or contains a lease under ASC Topic

842.

The Company's lease contracts do

not

contain any option for the Company to extend or terminate the lease, and do

not

contain the option for the Company to purchase the underlying assets. Based on the noncancelable lease period in the contract, the Company considers contract-based, asset-based, market-based and entity-based factors to determine the term over which it is reasonably certain to extend the lease, and then determine the lease term of each contract, which is

0.4

years. The Company's lease contracts only contain fixed lease payments and do

not

contain any residual value guarantee.

The Company's office lease contracts do

not

contain any nonlease component and are classified as operating leases in accordance with ASC Topic

842

For lease contracts with a duration of less than

twelve

months and thus met the definition of a short-term lease under ASC

842,

the Company, in accordance with ASC

842

elected

not

to apply the recognition requirements (i.e.

not

to recognize right-of-use asset and related lease liability) to these short-term leases. Instead, the Company recognized the lease payments of these short-term leases in its consolidated statements of operations and comprehensive loss on a straight-line basis over the lease term. As of

December 31, 2020

and

2019,

unpaid lease payments related to these short-term leases was approximately

US$0.20

million and

US$0.14

million, respectively.

For lease contracts with a duration of over

twelve

months, as the implicit rates of the Company leases cannot be readily determined, in accordance with ASC Topic

842

the Company used its incremental borrowing rate as the discount rate to determine the present value of the lease payments for each lease contract. The Company's incremental borrowing rate was determined based on the interest rate expected to be used by the commercial banks in the PRC for the

years long-term loan, if lent to the Company on a collateralized basis.

As of

December 31, 2020,

operating lease right-of-use assets and total operating lease liabilities recognized was both approximately

US$0.05

million.

Maturity of operating lease liabilities

	Operating leases
	US$('000)
Year ending December 31,
-2021		19
-2022		20
-2023		16
Total undiscounted lease payments		55
Less: imputed interest		(5	)
Operating lease liabilities as of December 31, 2020		50

Including:
Operating lease liabilities		18
Operating lease liabilities-Non current		32
		50

As of

December 31, 2019,

operating lease right-of-use assets recognized was approximately

US$0.01

million, operating lease liabilities recognized was also approximately

US$0.01

million, which was included in the Company's other current liabilities and was fully paid to the lessor in

April 2020.

Operating lease expenses:

	Year Ended December 31,
	2020		2019
	US$('000)		US$('000)

Long-term operating lease contracts		14		91
Short-term operating lease contracts		138		226
Total		152		317

Supplemental information related to operating leases

	2020			2019

Operating cash flows used for operating leases (US$'000)		9			91
Right-of-use assets obtained in exchange for new lease liabilities (US$'000)		47			10
Weighted-average remaining lease term (years)		2.75			1.21
Weighted-average discount rate		6	%		6	%

Income Tax, Policy [Policy Text Block]

q)	Income taxes

The Company follows the guidance of ASC Topic

740

“Income taxes” and uses liability method to account for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets, if based on the weight of available evidence, it is more-likely-than-

not

that some portion, or all, of the deferred tax assets will

not

be realized. The effect on deferred taxes of a change in tax rates is recognized in statement of operations and comprehensive loss in the period that includes the enactment date.

Income Tax Uncertainties, Policy [Policy Text Block]

Uncertain tax positions

The Company follows the guidance of ASC Topic

740

“Income taxes”, which prescribes a more likely than

not

threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. As a result, the impact of an uncertain income tax position is recognized at the largest amount that is more-likely-than-

not

to be sustained upon audit by the relevant tax authority. An uncertain income tax position will

not

be recognized if it has less than a

50%

likelihood of being sustained.

The Company recognizes interest on non-payment of income taxes under requirement by tax law and penalties associated with tax positions when a tax position does

not

meet the minimum statutory threshold to avoid payment of penalties. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes. The tax returns of the Company and its subsidiaries and VIEs are subject to examination by the relevant local tax authorities. The statute of limitations related to these tax returns under different circumstances various from

years, and for PRC entities, there is

statute of limitation in the case of tax evasion. The Company did

not

have any material interest or penalties associated with tax positions for the years ended

December 31, 2020

and

2019

and did

not

have any significant unrecognized uncertain tax positions as of

December 31, 2020

2019.

Share-based Payment Arrangement [Policy Text Block]

s)	Share-based payment transactions

The Company adopts ASC Topic

718

“Compensation-Stock Compensation” to account for share-based payment transactions with both employees and nonemployees, which requires that share-based payment transactions be measured based on the grant-date fair value of the instrument issued, net of an estimated forfeiture rate, if applicable, and therefore only recognizes compensation expenses for those instruments expected to vest over the requisite service period, or vesting period. Forfeitures are estimated at the time of grant and revised in the subsequent periods if actual forfeitures differ from those estimates.

For fully vested, nonforfeitable equity instruments granted to a nonemployee service provider at the date upon entering into the agreement (

specific performance is required by the nonemployee to retain those equity instruments), because of the elimination of any obligation on the part of the nonemployee to earn the equity instruments, the Company recognizes the instruments when they are granted (in most cases, when the agreement is entered into), the corresponding cost is recorded as a prepayment on the balance sheet, and amortized as share-based compensation expenses over the requisite service period.

Share-based compensation expenses are recorded in sales and marketing expenses, general and administrative expenses and research and development expenses.

Comprehensive Income, Policy [Policy Text Block]

t)	Comprehensive income (loss)

The Company accounts for comprehensive income (loss) in accordance with ASC Topic

220

“Comprehensive Income”, which establishes standards for reporting and displaying comprehensive income (loss) and its components in the consolidated financial statements. Comprehensive income (loss) is defined as the change in equity of a company during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners and distributions to owners. Accumulated other comprehensive income, as presented in the Company's consolidated balance sheets are the cumulative foreign currency translation adjustments.

Earnings Per Share, Policy [Policy Text Block]

u)	Earnings (loss) per share

Earnings (loss) per share are calculated in accordance with ASC Topic

260,

“Earnings Per Share”. Basic earnings (loss) per share is computed by dividing income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Common shares issuable upon the conversion of the convertible preferred shares are included in the computation of diluted earnings per share on an “if-converted” basis when the impact is dilutive. The dilutive effect of outstanding common stock warrants and options are reflected in the diluted earnings per share by application of the treasury stock method when the impact is dilutive.

Commitments and Contingencies, Policy [Policy Text Block]

v)	Commitments and contingencies

The Company adopts ASC Topic

450

“Contingencies” subtopic

20,

in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available before financial statements are issued or are available to be issued indicates that it is probable that an asset had been impaired, or a liability had been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is

not

probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.

New Accounting Pronouncements, Policy [Policy Text Block]

w)	Recent issued or adopted accounting standards

June 2016,

the FASB issued ASU

No.

2016

13,

“Financial Instruments-Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments”. The amendments in this ASU require the measurement and recognition of expected credit losses for financial assets held at amortized cost. The amendments in this ASU replace the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. In

November 2018,

the FASB issued ASU

No.

2018

19,

“Codification Improvements to Topic

326,

Financial Instruments-Credit Losses”, which among other things, clarifies that receivables arising from operating leases are

not

within the scope of Subtopic

326

20.

Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic

842,

Leases. For public entities, the amendments in these ASUs are effective for fiscal years beginning after

December 15, 2019,

including interim periods within those fiscal years.

November 2019,

the FASB issued ASU

No.

2019

10,

“Financial Instruments-Credit Losses (Topic

326

), Derivatives and Hedging (Topic

815

), and Leases (Topic

842

)-Effective date”, which deferred

the effective date of this ASU until fiscal years beginning after

December 15, 2022,

including interim periods within those fiscal years, for SEC filers that are eligible to be smaller reporting companies under the SEC's definition. The Company, as a SEC smaller reporting company, has

not

adopted the amendments in this ASU and is currently

evaluating the impacts on its consolidated financial position and results of operations upon adopting these amendments.

August

2018,

the FASB issued ASU

No.

2018

13,

“Fair Value Measurement (Topic

820

): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”. The amendments in this ASU eliminate, add and modify certain disclosure requirements for fair value measurements. The amendments in this ASU, among other things, require public companies to disclose the range and weighted average of significant unobservable inputs used to develop Level

fair value measurements. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019,

and entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The Company has adopted the amendments in these ASUs on

January 1, 2020,

and the adoption of these amendments did

not

have a material impact on the Company's consolidated financial position and results of operations.