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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 2,154 $ 7,173
Accounts receivable, net of allowance for doubtful accounts of $2,337 and $2,236, respectively 2,999 3,439
Prepayment and deposit to suppliers 7,593 7,559
Due from related parties 15 90
Other current assets, net 1,623 1,657
Total current assets 14,384 19,918
Long-term investments 2,149 2,280
Operating lease right-of-use assets 1,838 2,019
Property and equipment, net 267 375
Intangible assets, net 5,896 7,523
Long-term deposits and prepayments 68 75
Deferred tax assets, net 398 441
Total Assets 25,000 32,631
Current liabilities:    
Accounts payable [1] 276 1,119
Advance from customers [1] 951 1,245
Accrued payroll and other accruals [1] 170 389
Taxes payable [1] 3,199 3,534
Operating lease liabilities [1] 389 202
Lease payment liability related to short-term leases [1] 99 152
Other current liabilities [1] 197 141
Warrant liabilities 1,280 2,039
Total current liabilities 6,561 8,821
Long-term liabilities:    
Operating lease liabilities-Non current [1] 1,557 1,907
Long-term borrowing from a related party 123 137
Total Liabilities 8,241 10,856
Commitments and contingencies
Equity:    
Common stock (US$0.001 par value; authorized 100,000,000; issued and outstanding 35,827,677 shares and 35,332,677 shares at September 30, 2022 and December 31, 2021, respectively) 36 35
Additional paid-in capital 61,972 61,785
Statutory reserves 2,598 2,598
Accumulated deficit (49,005) (43,734)
Accumulated other comprehensive income 1,158 1,082
Total ZW Data Action Technologies Inc.’s stockholders’ equity 16,759 21,766
Total equity 16,759 21,766
Total Liabilities and Equity $ 25,000 $ 32,631
[1] Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets (Note 2).