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SHARE OPTIONS (Tables)
 12 Months Ended
Dec. 31, 2020
Disclosure of share options [Abstract]  
Schedule of Grants of Share Options and Warrants
 
  
Options and
warrants
    
Weighted-
average exercise
price
US$
    
Range
US$
  
 
  
‘A’ Ordinary
Shares
    
Per ‘A’ Ordinary
Share
    
Per ‘A’ Ordinary
Share
  
Outstanding January 1, 2018
    
10,727,376
      
1.92
      
1.24 –4.36
  
Granted
    
720,000
      
1.07
      
0.67 –1.37
  
Exercised
    
-
      
-
      
-
  
Forfeited
    
(539,176
)
    
2.50
      
1.34 –4.23
  
 
                        
Outstanding at end of year
    
10,908,200
      
1.83
      
0.67 –4.36
  
 
                        
Exercisable at end of year
    
6,091,864
      
2.09
      
1.24 –4.36
  
 
                        
Outstanding January 1, 2019
    
10,908,200
      
1.83
      
0.67 –4.36
  
Granted
    
4,370,000
      
0.68
      
0.46 –0.78
  
Exercised
    
-
      
-
      
-
  
Expired / Forfeited
    
(2,974,210
)
    
2.25
      
0.66 –4.23
  
 
                        
Outstanding at end of year
    
12,303,990
      
1.31
      
0.46 –4.36
  
 
                        
Exercisable at end of year
    
6,622,667
      
1.73
      
1.24 –4.36
  
 
                        
Outstanding January 1, 2020
    
12,303,990
      
1.31
      
0.46 –4.36
  
Granted
    
9,100,000
      
0.38
      
0.19 –1.10
  
Exercised
    
-
      
-
      
-
  
Expired / Forfeited
    
(1,918,000
)
    
2.14
      
0.19-4.21
  
 
                        
Outstanding at end of year
    
19,485,990
      
0.79
      
0.19-4.36
  
 
    
     

     

 
Exercisable at end of year
    
7,959,323
      
1.27
      
0.66-4.36
  



 
  
Options and
warrants
    
Weighted-
average exercise
price
US$
    
Range
US$
  
 
  
‘ADS’ Equivalent
    
Per ‘ADS’
    
Per ‘ADS’
  
Outstanding January 1, 2018
    
2,681,844
      
7.69
      
4.96 - 17.44
  
Granted
    
180,000
      
4.28
      
2.68 – 5.48
  
Exercised
    
-
      
-
      
-
  
Expired / Forfeited
    
(134,794
)
    
10.00
      
5.36 – 16.92
  
 
                        
Outstanding at end of year
    
2,727,050
      
7.32
      
2.68–17.44
  
 
                        
Exercisable at end of year
    
1,522,966
      
8.36
      
4.96 –17.44
  
 
                        
Outstanding January 1, 2019
    
2,727,050
      
7.32
      
2.68–17.44
  
Granted
    
1,092,500
      
2.72
      
1.83 - 3.10
  
Exercised
    
-
      
-
      
-
  
Expired / Forfeited
    
(743,552
)
    
8.99
      
2.64 – 16.92
  
 
                        
Outstanding at end of year
    
3,075,998
      
5.24
      
1.83 – 17.45
  
 
                        
Exercisable at end of year
    
1,655,667
      
6.92
      
4.95 –17.45
  
 
                        
Outstanding January 1, 2020
    
3,075,998
      
5.24
      
1.83 – 17.45
  
Granted
    
2,275,000
      
1.52
      
0.77-4.41
  
Exercised
    
-
      
-
      
-
  
Expired / Forfeited
    
(479,500
)
    
8.56
      
0.77-16.84
  
                         
Outstanding at end of year
    
4,871,498
      
3.15
      
0.77-17.45
  
Exercisable at end of year
    
1,989,831
      
5.08
      
2.64-17.45
  
 
Summary of Range of Prices of Stock Options
A summary of the range of prices for the Company’s stock options for the year ended December 31, 2020 follows:
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  
 
US$0.19-US$0.99
      
13,260,006
      
0.48
      
4.14
      
2,106,673
      
0.69
      
1.44
  

US$1.00-US$2.05
      
5,664,000
      
1.34
      
1.11
      
5,290,667
      
1.35
      
2.44
  

US$2.06- US$2.99
      
499,984
      
2.52
      
0.05
      
499,984
      
2.52
      
0.13
  

US$3.00 -US$4.36
      
62,000
      
4.17
      
0.00
      
62,000
      
4.17
      
0.01
  

                                                   
         
19,485,990
                      
7,959,324
                  
 
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  

US$0.77-US$3.96
      
3,315,002
      
1.92
      
4.17
      
526,668
      
2.76
      
1.44
  

US$4.00-US$8.20
      
1,416,000
      
5.36
      
1.10
      
1,322,667
      
5.40
      
2.44
  

US$8.24- US$11.96
      
124,996
      
10.08
      
0.05
      
124,996
      
10.08
      
0.13
  

US$12.00 -US$17.45
      
15,500
      
16.68
      
0.00
      
15,500
      
16.68
      
0.01
  

                                                   
         
4,871,498
                      
1,989,831
                  
 
A summary of the range of prices for the Company’s stock options for the year ended December 31, 2019 follows:
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘A’ ordinary
shares
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  

US$0.46-US$0.99
      
4,600,000
      
0.69
      
6.42
      
-
      
-
      
-
  

US$1.00-US$2.05
      
5,613,990
      
1.35
      
4.69
      
4,542,667
      
1.34
      
4.68
  

US$2.06- US$2.99
      
1,980,000
      
2.48
      
3.13
      
1,970,000
      
2.48
      
3.13
  

US$3.00 -US$4.36
      
110,000
      
4.19
      
2.07
      
110,000
      
4.19
      
2.07
  
                                                     
         
12,303,990
                      
6,622,667
                  
 
     
Outstanding
    
Exercisable
  
Exercise price range
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
    
No. of
options
‘ADS
equivalent’
    
Weighted–
average
exercise
price
    
Weighted-
average
contractual
life
remaining
(years)
  

US1.84-US$3.96
      
1,150,000
      
2.75
      
6.42
      
0
      
0.00
      
0.00
  

US4.00-US$8.20
      
1,403,498
      
5.40
      
4.69
      
1,135,667
      
5.38
      
4.68
  

US8.24- US$11.96
      
495,000
      
9.92
      
3.13
      
492,500
      
9.91
      
3.13
  

US12.00 -US$17.45
      
27,500
      
16.75
      
2.07
      
27,500
      
16.75
      
2.07
  
                                                     
         
3,075,998
                      
1,655,667
                  
Schedule of Fair Value of the Options Vesting Period
The fair value of the options is expensed over the vesting period of the option. US$792,000 was charged to the statement of operations in 2020, (2019: US$758,000), (2018: US$1,369,000) split as follows:
 
 
  
December 31,
2020
US$‘000
    
December 31,
2019
US$‘000
    
December 31,
2018
US$‘000
  
Share-based payments – cost of sales
    
12
      
26
      
34
  
Share-based payments – selling, general and administrative
    
780
      
732
      
1,335
  
 
                        
Total – continuing operations
    
792
      
758
      
1,369
  
Share-based payments – discontinued operations
    
-
      
-
      
-
  
 
                        
Total
    
792
      
758
      
1,369
  
 
Schedule of Assumption Determining Fair Value of Share Options
The fair value of services received in return for share options granted are measured by reference to the fair value of share options granted. The estimate of the fair value of services received is measured based on a trinomial model. The following are the input assumptions used in determining the fair value of share options granted in 2020, 2019 and 2018:
 
 
  
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
    
Key
management
personnel
    
Other
employees
  
 
  
2020
    
2020
    
2019
    
2019
    
2018
    
2018
  
Weighted average fair value at measurement date per ‘A’ share / (per ADS)
  

US$0.20 /
(US$0.80
)
  

US$0.27 /
(US$1.08
)
  

US$0.14 /
(US$0.56
)
  

US$0.25 /
(US$1.02
)
    
-
    

US$0.41 /
(US$1.64
)
                                                 
Total ‘A’ share options granted / (ADS’s equivalent)
    
8,480,000 /
(2,120,000
)
    
620,000 /
(155,000
)
    
4,060,000 /
(1,015,000
)
    
310,000 /
(77,500
)
    
-
      
720,000 /
(180,000
)
                                                 
Weighted average share price per ‘A’ share / (per ADS)
  

US$0.38 /
(US$1.52
)
  

US$0.48 /
(US$1.96
)
  

US$0.46 /(US$1.84
)
  

US$0.64 /(US$2.53
)
    
-
    

US$1.07 /(US$4.28
)
                                                 
Weighted average exercise price per ‘A’ share / (per ADS)
  

US$0.38 /
(US$1.52
)
  

US$0.48 /
(US$1.96
)
  

US$0.69 /(US$2.74
)
  
US$0.64 /(US$2.53
)
    
-
    

US$1.07 /(US$4.28
)
                                                 
Weighted average expected volatility
    
66.98
%
    
65.89
%
    
51.18
%
    
47.31
%
    
-
      
42.69
%
                                                 
Weighted average expected life
    
4.34
      
4.35
      
4.15
      
4.42
      
-
      
4.55
  
                                                 
Weighted average risk free interest rate
    
0.44
%
    
0.42
%
    
1.84
%
    
2.23
%
    
-
      
2.72
%