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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 35,667,074 $ 24,669,133
Restricted cash 3,293,189 3,264,145
Short-term investments 50,036 50,028
Accounts receivable, net of allowance for doubtful accounts of US$1,161,955 and US$1,180,423 as of December 31, 2020 and June 30, 2021, respectively 31,450,765 28,127,346
Prepaid expenses and other current assets 8,965,912 12,073,226
Total current assets 79,426,976 68,183,878
Long-term restricted cash 21,700,000 21,689,436
Property and equipment, net 4,100,477 5,393,742
Intangible assets, net 325,631 396,495
Operating lease right-of-use assets 1,818,213  
Long-term investments 619,801 306,518
Other non-current assets 1,210,757 932,311
TOTAL ASSETS 87,501,855 96,902,380
Current liabilities (including amounts of the consolidated VIEs without recourse to the Company. See Note 2(b)):    
Accounts payable 50,245,783 76,125,973
Short-term borrowings 15,162,304 10,958,022
Accrued salary and benefits 6,554,525 9,143,476
Operating lease liabilities, current 1,321,794  
Accrued expenses and other current liabilities 6,684,535 10,686,518
Convertible notes 16,242,636  
Derivative liabilities 1,577,128  
Deferred revenue 3,085,999 3,331,511
Total current liabilities 100,874,704 110,245,500
Other non-current liabilities 391,370 459,435
Operating lease liabilities, non-current 230,804  
TOTAL LIABILITIES 101,496,878 110,704,935
Commitments and contingencies
Shareholders' deficit:    
Treasury shares (44,511,050 and 63,248,150 shares as of December 31, 2020 and June 30, 2021, respectively) (5,229,132) (4,672,334)
Additional paid-in capital 206,158,746 193,918,852
Accumulated deficit (213,099,385) (200,965,075)
Accumulated other comprehensive loss (1,858,639) (2,114,916)
Total shareholders' deficit (13,995,023) (13,802,555)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT 87,501,855 96,902,380
Class A    
Shareholders' deficit:    
Ordinary shares 30,925 28,456
Class B    
Shareholders' deficit:    
Ordinary shares $ 2,462 $ 2,462