XML 58 R68.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Long-term Investments - Equity method investments (Details)
1 Months Ended 9 Months Ended
Oct. 31, 2016
CNY (¥)
Oct. 31, 2016
USD ($)
Sep. 30, 2019
USD ($)
Schedule Of Equity Method Investment [Roll Forward]      
Beginning balance     $ 16,956,506
Capital increase     23,000,000
Loss on investment     (3,785,092)
Reclassification to subsidiaries     (3,123,991)
Foreign currency translation adjustments     (35,280)
Ending balance     33,012,143
Wecast Internet Limited ("Wecast Internet")      
Schedule Of Equity Method Investment [Roll Forward]      
Beginning balance [1]     4,114
Capital increase ¥ 1,000,000 $ 149,750 0 [1]
Loss on investment [1]     (5)
Reclassification to subsidiaries [1]     0
Foreign currency translation adjustments [1]     1,930
Ending balance [1]     6,039
Hua Cheng      
Schedule Of Equity Method Investment [Roll Forward]      
Beginning balance [2]     308,666
Capital increase [2]     0
Loss on investment [2]     (32,890)
Reclassification to subsidiaries [2]     0
Foreign currency translation adjustments [2]     (37,210)
Ending balance [2]     238,566
Shandong Media      
Schedule Of Equity Method Investment [Roll Forward]      
Capital increase     0
Loss on investment     0
Reclassification to subsidiaries     0
Foreign currency translation adjustments     0
Ending balance     0
BDCG      
Schedule Of Equity Method Investment [Roll Forward]      
Beginning balance [3]     9,800,000
Capital increase [3]     0
Loss on investment [3]     0
Reclassification to subsidiaries [3]     0
Foreign currency translation adjustments [3]     0
Ending balance [3]     9,800,000
DBOT      
Schedule Of Equity Method Investment [Roll Forward]      
Beginning balance     6,843,726
Capital increase     0
Loss on investment     (3,719,735)
Reclassification to subsidiaries     (3,123,991)
Foreign currency translation adjustments     0
Ending balance     0
Glory      
Schedule Of Equity Method Investment [Roll Forward]      
Capital increase     23,000,000
Loss on investment     (32,462)
Reclassification to subsidiaries     0
Foreign currency translation adjustments     0
Ending balance     $ 22,967,538
[1] Wecast InternetStarting from October 2016, we have 50% interest in Wecast Internet Limited (“Wecast Internet”) and initial investment was invested RMB 1,000,000 (approximately $149,750). Wecast Internet is in the process of liquidation and the remaining carrying value is immaterial.
[2] Hua Cheng Hu Dong (Beijing) Film and Television Communication Co., Ltd.(“Hua Cheng”)The Company held 39% equity ownership in Hua Cheng, a company established to provide integrated value-added service solutions for the delivery of VOD and enhanced content for cable providers.
[3] BBD Digital Capital Group Ltd. (“BDCG”)In 2018, we signed a joint venture agreement with two unrelated parties, to establish BDCG located in the United States for providing block chain services for financial or energy industries by utilizing AI and big data technology in the United States. The Company received 40% equity ownership in BDCG from the initial joint venture agreement. On April 24, 2018, the Company acquired 20% equity ownership in BDCG from one noncontrolling party for a total consideration of $9.8 million which consists of $2 million in cash and $7.8 million paid in the form of the Company’s common stock (valued at $2.60 per share and equal to 3 million shares of the Company’s common stock), increasing the Company’s ownership to 60% in BDCG. The remaining 40% of BDCG are held by Seasail ventures limited (“Seasail”). The accounting treatment of the joint venture is based on the equity method due to variable substantive participating rights (in accordance with ASC 810102511) granted to Seasail. The new entity is currently in the process of ramping up its operations. In April 2019, the company rebranded the name of the BDCG joint venture to Intelligenta. As part of the rebranding, Intelligenta’s strategy will now include credit services, corporation services, index services and products, and capital market services and products.