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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents * $ 7,173 $ 4,297
Accounts receivable, net of allowance for doubtful accounts of $2,236 and $4,247, respectively * 3,439 2,407
Prepayment and deposit to suppliers * 7,559 4,657
Due from related parties * 90 61
Other current assets * 1,657 1,462
Total current assets 19,918 12,884
Long-term investments * 2,280 67
Operating lease right-of-use assets * 2,019 48
Property and equipment, net * 375 60
Intangible assets, net * 7,523 2,557
Blockchain platform applications development costs 0 4,406
Long-term deposits and prepayments 75 39
Deferred tax assets, net * 441 606
Total Assets 32,631 20,667
Current liabilities:    
Accounts payable 1,119 608
Advances from customers * 1,245 1,436
Accrued payroll and other accruals* 389 489
Taxes payable* 3,534 3,430
Operating lease liabilities* 202 18
Lease payment liabilities related to short-term leases * 152 203
Other current liabilities* 141 333
Warrant liabilities 2,039 1,505
Total current liabilities 8,821 8,022
Long-term liabilities:    
Operating lease liabilities-Non current * [1] 1,907 32
Long-term borrowing from a related party 137 134
Total Liabilities 10,865 8,188
Commitments and contingencies
Equity:    
Common stock (US$0.001 par value; authorized 100,000,000 and 50,000,000 shares at December 31, 2021 and 2020; issued and outstanding 35,332,677 shares and 26,062,915 shares at December 31, 2021 and 2020, respectively) 35 26
Additional paid-in capital 61,785 49,772
Statutory reserves 2,598 2,598
Accumulated deficit (43,734) (40,980)
Accumulated other comprehensive income 1,082 1,129
Total ZW Data Action Technologies Inc.’s stockholders’ equity 21,766 12,545
Noncontrolling interests 0 (66)
Total equity 21,766 12,479
Total Liabilities and Equity $ 32,631 $ 20,667
[1] All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets (Note 2).