Note 18 - Segment Reporting

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

18. 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.

Three Months Ended March 31, 2025 (Unaudited)

	Internet Ad and related service		IP Services		Blockchain technology		Corporate (1)			Inter-segment and reconciling item			Total
	US$ (‘000)		US$ (‘000)		US$ (‘000)		US$ (‘000)			US$ (‘000)			US$ (‘000)
Revenues		1,019		18		615		-			-			1,652
Cost of revenues		919		13		560		-			-			1,492
Total operating expenses		14		-		-		725			-			739
Depreciation and amortization expense included in cost of revenues and total operating expenses		7		13		-		3			-			23
Operating income/(loss)		86		5		55		(725	)		-			(579	)
Expenditure for long-term assets		-		600		-		37			-			637
Net income/(loss)		83		4		55		(672	)		-			(530	)
Total assets-March 31, 2025		8,184		712		205		33,793			(33,353	)		9,541
Total assets-December 31, 2024		7,627		-		-		34,405			(32,346	)		9,686

(1) Since our Ecommerce O2O Ad and marketing services segment has been dormant and historical amounts were immaterial, the operations of this segment have been combined with the corporate segment for financial reporting purposes. Accordingly, the segment information for the three months ended March 31, 2024, has been reclassified to conform the presentation for the period ended March 31, 2025.

Three Months Ended March 31, 2024 (Unaudited)

	Internet Ad and related service			IP Services		Blockchain technology			Corporate (1)			Inter-segment and reconciling item			Total
	US$ (‘000)			US$ (‘000)		US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)
Revenues		3,531			-		-			-			-			3,531
Cost of revenues		3,459			-		-			-			-			3,459
Total operating expenses		370			-		210			414			-			994
Depreciation and amortization expense included in cost of revenues and total operating expenses		8			-		210			20			-			238
Operating loss		(298	)		-		(210	)		(414	)		-			(922	)
Change in fair value of warrant liabilities		-			-		-			-			-			-
Net loss		(308	)		-		(210	)		(332	)		-			(850	)
Total assets-March 31, 2024		7,994			-		631			35,371			(32,592	)		11,404
Total assets-December 31, 2023		7,966			-		841			35,011			(32,585	)		11,233