Note 19 - Segment Reporting

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

19. 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.

Nine Months Ended September 30, 2023 (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		25,242			-			75			-			-			25,317
Cost of revenues		25,116			-			630			-			-			25,746
Total operating expenses		1,063			11			-			2,751	(1)		-			3,825
Depreciation and amortization expense included in cost of revenues and total operating expenses		274			-			630			62			-			966
Operating loss		(937	)		(11	)		(555	)		(2,751	)		-			(4,254	)
Change in fair value of warrant liabilities		-			-			-			185			-			185
Net loss		(961	)		(6	)		(556	)		(2,543	)		-			(4,066	)
Total assets-September 30, 2023		9,474			142			1,051			36,525			(32,413	)		14,779
Total assets-December 31, 2022		10,385			156			1,682			39,136			(31,701	)		19,658

(1) Including approximately US$0.10 million share-based compensation expenses.

Three Months Ended September 30, 2023 (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		9,156			-			25			-			-		9,181
Cost of revenues		8,975			-			210			-			-		9,185
Total operating expenses		380			2			-			1,220	(1)		-		1,602
Depreciation and amortization expense included in cost of revenues and total operating expenses		90			-			210			21			-		321
Operating loss		(199	)		(2	)		(185	)		(1,220	)		-		(1,606	)
Change in fair value of warrant liabilities		-			-			-			13			-		13
Net loss		(211	)		(1	)		(185	)		(1,123	)		-		(1,520	)

(1) Including approximately US$0.01 million share-based compensation expenses.

Nine Months Ended September 30, 2022 (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		21,813			-			-			-			-		21,813
Cost of revenues		21,811			-			-			-			-		21,811
Total operating expenses		1,517			817			1,100			2,663	(1)		-		6,097
Depreciation and amortization expense included in total operating expenses		270			225			1,100			65			-		1,660
Operating loss		(1,515	)		(817	)		(1,100	)		(2,663	)		-		(6,095	)
Change in fair value of warrant liabilities		-			-			-			759			-		759
Net loss		(1,555	)		(816	)		(1,100	)		(1,800	)		-		(5,271	)

(1) Including approximately US$0.14 million share-based compensation expenses.

Three Months Ended September 30, 2022 (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		7,216			-			-			-			-		7,216
Cost of revenues		7,267			-			-			-			-		7,267
Total operating expenses		628			80			365			707	(1)		-		1,780
Depreciation and amortization expense included in total operating expenses		91			75			365			21			-		552
Operating loss		(679	)		(80	)		(365	)		(707	)		-		(1,831	)
Change in fair value of warrant liabilities		-			-			-			(1,023	)		-		(1,023	)
Net loss		(688	)		(80	)		(365	)		(1,707	)		-		(2,840	)

(1) Including approximately US$0.05 million share-based compensation expenses.