Note 11 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

11. Intangible assets, net

	As of December 31, 2023
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		1,311		(909	)		(402	)		-
Licensed products use right		1,204		(496	)		(708	)		-
--5 years life:
Internet Ad tracking system		1,160		(637	)		(523	)		-
Live streaming technology		1,500		(625	)		(875	)		-
--3 years life:
Blockchain Integrated Framework		4,038		(2,187	)		(1,010	)		841
Bo!News application		339		(113	)		(226	)		-
Other computer software		111		(111	)		-			-
Total	$	9,663	$	(5,078	)	$	(3,744	)	$	841

	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

Amortization expenses in the aggregate for the years ended December 31, 2023 and 2022 were approximately US$1.19 million and US$2.12 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, 2023, the Company recorded approximately US$1.23 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, 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.

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 1 year as of December 31, 2023, and assuming no further subsequent impairment of the underlying intangible assets, the estimated future amortization expenses is approximately US$0.84 million for the year ending December 31, 2024.