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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net loss $ (5,221) $ (1,270)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities    
Depreciation and amortization 856 170
Amortization of operating lease right-of-use assets 13 90
Loss on disposal of fixed assets 11
Share-based compensation expenses 2,152 393
Provision of allowances for doubtful accounts 833 2,335
Change in fair value of warrant liabilities (653) (499)
Deferred taxes 143 (168)
Changes in operating assets and liabilities    
Accounts receivable 116 699
Prepayment and deposit to suppliers 2,804 (5,221)
Due from related parties 24 145
Other current assets (6) 7
Accounts payable 180 (2,441)
Advances from customers (671) 973
Accrued payroll and other accruals 16 27
Other current liabilities (299) 110
Taxes payable 14 265
Prepaid lease payment (9) (10)
Operating lease liabilities 1
Lease payment liability related to short-term leases 54 138
Net cash provided by/(used in) operating activities 326 (4,311)
Cash flows from investing activities    
Proceeds from disposal of fixed assets 3
Investment to investee entities (28) (36)
Short-term loan to unrelated parties (1,444)
Payment for blockchain platform applications development costs (503) (160)
Payment for purchase of software technology and other intangible assets (1,500) (1,962)
Net cash used in investing activities (3,472) (2,158)
Cash flows from financing activities    
Proceeds from issuance of common stock and warrants (net of cash offering cost of $750 and $15, respectively) 6,250 4,787
Proceeds from short-term bank loan 435
Repayment of short-term bank loan (435) (870)
Net cash provided by financing activities 5,815 4,352
Effect of exchange rate fluctuation on cash and cash equivalents 25 (22)
Net increase/(decrease) in cash and cash equivalents 2,694 (2,139)
Cash and cash equivalents at beginning of the year 1,603 3,742
Cash and cash equivalents at end of the year 4,297 1,603
Supplemental disclosure of cash flow information    
Income taxes paid
Interest expense paid $ 2 $ 42