Note 12 - Long-term Deposits and Prepayments

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Long-term Prepayments [Text Block]

12. Long-term deposits and prepayments

As of June 30, 2021, long-term deposits and prepayments consisted of an approximately US$0.56 million of the Company’s operating deposits and prepayments that were not expected to be refunded or consumed within one year of June 30, 2021, an approximately US$0.16 million prepayment for the leasehold improvement project of the Company’s Guangzhou office, which is expected to be completed in the second half of fiscal 2021, and a US$1.0 million prepayment for the shares subscription of a 15.38% equity interest in an entity. This investment was made by the Company to jointly develop blockchain, key opinion leader and e-sports platform and to jointly operate IP data for e-sports and games with its two strategic partners. The transaction is expected to be consummated by the end of August 2021.