Note 21 - Segment Reporting

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

21. Segment reporting

The Company follows ASC Topic 280 “Segment Reporting”, which requires that companies disclose segment data based on how management makes decisions about allocating resources to segments and evaluating their performance. Reportable operating segments include components of an entity about which separate financial information is available and which operating results are regularly reviewed by the chief operating decision maker (“CODM”), the Company’s Chief Executive Officer, to make decisions about resources to be allocated to the segment and assess each operating segment’s performance.

Six Months Ended June 30, 2021 (Unaudited)

	Internet Ad and related service			Ecommerce O2O Ad and marketing services			Blockchain technology			Corporate			Inter-segment and reconciling item			Total
	US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)
Revenues		22,560			387			-			-			-			22,947
Cost of revenues		23,132			750			-			-			-			23,882
Total operating expenses		590			658			1			7,910	(1)		-			9,159
Depreciation and amortization expense included in total operating expenses		130			150			1			1			-			282
Operating loss		(1,162	)		(1,021	)		(1	)		(7,910	)		-			(10,094	)
Change in fair value of warrant liabilities		-			-			-			6,829			-			6,829
Net loss		(966	)		(1,021	)		(2	)		(970	)		-			(2,959	)
Expenditure for long-term assets		1,220			-			-			161			-			1,381
Total assets-June 30, 2021		11,515			4,588			4,410			45,422			(28,987	)		36,948
Total assets-December 31, 2020		8,310			3,206			4,409			27,766			(23,024	)		20,667

(1)  Including approximately US$6.86 million share-based compensation expenses.

Three Months Ended June 30, 2021 (Unaudited)

	Internet Ad. and related service			Ecommerce O2O Ad and marketing services			Blockchain technology			Corporate			Inter-segment and reconciling item		Total
	US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)		US$ (‘000)
Revenues		14,293			258			-			-			-		14,551
Cost of revenues		14,394			375			-			-			-		14,769
Total operating expenses		207			455			-			7,399	(1)		-		8,061
Depreciation and amortization expense included in total operating expenses		95			75			-			-			-		170
Operating loss		(308	)		(572	)		-			(7,399	)		-		(8,279	)
Change in fair value of warrant liabilities		-			-			-			4,322			-		4,322
Net loss		(12	)		(572	)		(1	)		(3,061	)		-		(3,646	)
Expenditure for long-term assets		60			-			-			161			-		221

(1) Including approximately US$6.76 million share-based compensation expenses.

Six Months Ended June 30, 2020 (Unaudited)

	Internet Ad and related service			Ecommerce O2O Ad and marketing services		Blockchain technology			Corporate			Inter-segment and reconciling item		Total
	US$ (‘000)			US$ (‘000)		US$ (‘000)			US$ (‘000)			US$ (‘000)		US$ (‘000)
Revenues		13,148			1,007		-			645			-		14,800
Cost of revenues		12,853			750		-			-			-		13,603
Total operating expenses		1,952			9		4			2,528	(1)		-		4,493
Depreciation and amortization expense included in total operating expenses		412			-		1			2			-		415
Operating (loss)/income		(1,657	)		248		(4	)		(1,883	)		-		(3,296	)
Change in fair value of warrant liabilities		-			-		-			68			-		68
Expenditure for long-term assets		-			-		302			-			-		302
Net (loss)/income		(1,650	)		204		(4	)		(1,830	)		-		(3,280	)

(1)  Including approximately US$1.99 million share-based compensation expenses.

Three Months Ended June 30, 2020 (Unaudited)

	Internet Ad and related service			Ecommerce O2O Ad and marketing services		Blockchain technology			Corporate			Inter-segment and reconciling item		Total
	US$ (‘000)			US$ (‘000)		US$ (‘000)			US$ (‘000)			US$ (‘000)		US$ (‘000)
Revenues		9,912			504		-			-			-		10,416
Cost of revenues		9,743			375		-			-			-		10,118
Total operating expenses		930			5		3			380	(1)		-		1,318
Depreciation and amortization expense included in total operating expenses		206			-		1			1			-		208
Operating (loss)/income		(761	)		124		(3	)		(380	)		-		(1,020	)
Change in fair value of warrant liabilities		-			-		-			22			-		22
Net (loss)/income		(757	)		101		(3	)		(311	)		-		(970	)

(1)  Including approximately US$0.07 million share-based compensation expenses.