Note 11 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

11. Intangible assets, net

	As of December 31, 2022
Items	Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets subject to amortization:
--10 years life:
Cloud compute software technology		1,333		(924	)		(409	)		-
Licensed products use right		1,201		(374	)		-			827
--5 years life:
Internet Ad tracking system		1,160		(405	)		-			755
Live streaming technology		1,500		(625	)		(875	)		-
--3 years life:
Blockchain Integrated Framework		4,038		(1,346	)		(1,010	)		1,682
Bo!News application		345		(115	)		(230	)		-
Other computer software		113		(113	)		-			-
Total	$	9,690	$	(3,902	)	$	(2,524	)	$	3,264

	As of December 31, 2021
Items	Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
	US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets subject to amortization:
--10 years life:
Cloud compute software technology		1,456		(1,010	)		(446	)		-
Licensed products use right		1,205		(255	)		-			950
--5 years life:
Internet Ad tracking system		1,158		(174	)		-			984
Live streaming technology		1,500		(325	)		-			1,175
--3 years life:
Blockchain Integrated Framework		4,038		-			-			4,038
Bo!News application		376		-			-			376
Other computer software		123		(123	)		-			-
Total	$	9,856	$	(1,887	)	$	(446	)	$	7,523

Amortization expenses in the aggregate for the years ended December 31, 2022 and 2021 were approximately US$2.12 million and US$0.60 million, respectively.

Intangible assets of the Company are tested for impairment when events or circumstances occur that could indicate that the carrying amount of an asset may not be recoverable. For the year ended December 31, 2022, the Company recorded approximately US$2.12 million impairment loss associated with its intangible assets, due to insufficient estimated future cash flows expected to be generated by these assets. For the year ended December 31, 2021, the Company did not recognize any impairment loss associated with its intangible assets.

Based on the adjusted carrying value of the finite-lived intangible assets after the deduction of the impairment losses, which has a weighted average remaining useful life of 3.51 years as of December 31, 2022, and assuming no further subsequent impairment of the underlying intangible assets, the estimated future amortization expenses is approximately US$1.19 million each year for the year ending December 31, 2023 and 2024, US$0.35 million for the year ending December 31, 2025, approximately US$0.18 million for the year ending December 31, 2026, and approximately US$0.12 million for the year ending December 31, 2027.