Note 2 - Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Variable Interest Entities [Table Text Block]

	March 31, 2021		December 31, 2020
	US$('000)		US$('000)
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	1,055	$	277
Accounts receivable, net		1,565		1,142
Prepayment and deposit to suppliers		4,107		2,818
Due from related parties, net		102		61
Other current assets, net		3		10
Total current assets		6,832		4,308

Long-term investments		404		67
Operating lease right-of-use assets		2,199		48
Property and equipment, net		34		32
Intangible assets, net		4		9
Long-term deposits and prepayments		73		-
Deferred tax assets, net		457		536
Total Assets		10,003	$	5,000

Liabilities
Current liabilities:
Accounts payable	$	814	$	270
Advances from customers		1,554		1,436
Accrued payroll and other accruals		80		168
Taxes payable		2,713		2,755
Operating lease liabilities		267		18
Lease payment liabilities related to short-term leases		107		108
Other current liabilities		212		213
Total current liabilities		5,747		4,968

Operating lease liabilities-Non current		1,953		32
Total Liabilities	$	7,700	$	5,000

Financial Performance of VIEs [Table Text Block]

	Three Months Ended March 31,
	2021			2020
	US$('000)			US$('000)
	(Unaudited)			(Unaudited)

Revenues	$	7,947		$	2,936
Cost of revenues		(8,738	)		(2,845	)
Total operating expenses		(390	)		(744	)
Net loss before allocation to noncontrolling interests		(1,281	)		(651	)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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