Note 23 - Share-based Compensation Expenses

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

23. Share-based compensation expenses

In August and September of 2024, under its 2023 Omnibus Securities and Incentive Plan, the Company granted and issued an aggregate of approximately 0.19 million fully-vested shares of the Company’s restricted common stock to employees of the Company in exchange for their services to the Company. These shares were valued at the closing bid price of the Company’s common stock on the respective date of grant. Total compensation expenses recognized was approximately US$0.45 million for the year ended December 31, 2024.

In August 2024, the Company granted and issued approximately 0.73 million fully-vested and non-forfeitable shares of the Company restricted common stock to business and financial consultants in exchange for their service for a 12-month period until August 2025. The Company valued these shares at 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$0.35 million as a prepayment asset in prepayment and deposit to suppliers account upon the grant and issuance of these shares. Total compensation expenses amortized was approximately US$0.23 million for the year ended December 31, 2024.

In April 2023, under its 2020 Omnibus Securities and Incentive Plan, the Company granted and issued an aggregate of 0.03 million fully-vested shares of the Company’s restricted common stock to one of the Company’s executive officers in exchange for their services to the Company for the year ended December 31, 2023. These shares were valued at the closing bid price of the Company’s common stock on the respective date of grant. Total compensation expenses recognized was approximately US$0.05 million for the year ended December 31, 2023.

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 was approximately US$0.06 million for the year ended December 31, 2023.

The table below summarized share-based compensation expenses recorded for the years ended December 31, 2024 and 2023, respectively:

	Year Ended December 31,
	2024		2023
	US$(’000)		US$(’000)
Sales and marketing expenses		-		-
General and administrative expenses		684		108
Research and development expenses		-		-
Total		684		108