Note 21 - Share-based Compensation Expenses

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

21. Share-based compensation expenses

In September 2024, under its 2023 Omnibus Securities and Incentive Plan, the Company granted and issued 0.375 million fully-vested shares of the Company’s restricted common stock to employees, consultants and one of its independent directors in exchange for services to the Company. These shares were valued at US$4.4 per share, the closing bid price of the Company’s common stock on the grant date. Total compensation expenses amortized for the nine and three months ended September 30, 2024 was approximately US$1.64 million.

In April 2023, under its 2020 Omnibus Securities and Incentive Plan, the Company granted and issued 0.03 million fully-vested shares of the Company’s restricted common stock to one of its independent directors in exchange for his service to the Company for the year ending December 31, 2023. These shares were valued at US$1.65 per share, the closing bid price of the Company’s common stock on the grant date. Total compensation expenses amortized for the nine and three months ended September 30, 2023 was approximately US$0.04 million and US$0.02 million, respectively.

In June 2022, the Company granted and issued 0.08 million fully-vested and non-forfeitable shares of the Company restricted common stock to a management consulting and advisory service provider in exchange for its service for a 12-month period until May 2023. The Company valued these shares at US$1.75 per share, the closing bid price of the Company’s common stock on the grant date of these shares and recorded the related total cost of approximately US$0.14 million as a prepayment asset in prepayment and deposit to suppliers account upon the grant and issuance of these shares. Total compensation expenses amortized for the nine and three months ended September 30, 2023 was approximately US$0.06 million and US$nil, respectively.

The table below summarized share-based compensation expenses recorded for the nine and three months ended September 30, 2024 and 2023, respectively:

	Nine Months Ended September 30,				Three Months Ended September 30,
	2024		2023		2024		2023
	US$(’000)		US$(’000)		US$(’000)		US$(’000)
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Sales and marketing expenses		-		-		-		-
General and administrative expenses		1,642		95		1,642		12
Research and development expenses		-		-		-		-
Total		1,642		95		1,642		12