View Filing Data

Other current liabilities *

^[1]

411

521

Taxes payable *

^[1]

3,120

2,997

127

118

Total current liabilities

7,358

8,440

Long-term liabilities:

Long-term borrowing from a director

130

128

Warrant liabilities

956

606

Total Liabilities

8,444

9,174

Commitments and contingencies

Equity:

Common stock (US$0.001 par value; authorized 50,000,000 shares; issued and outstanding 16,412,543 shares and 16,382,543 shares at March 31, 2019 and December 31, 2018, respectively)

Additional paid-in capital

38,288

38,275

Statutory reserves

2,607

Accumulated deficit

(35,650)

(34,512)

Accumulated other comprehensive income

1,422

1,457

Total ChinaNet Online Holdings, Inc.’s stockholders’ equity

6,683

7,843

Noncontrolling interests

(52)

(49)

Total equity

6,631

7,794

Total Liabilities and Equity

$ 15,075

$ 16,968

[1]	All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	16,412,543	16,382,543
Common stock, shares outstanding (in shares)	16,412,543	16,382,543

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues
Revenues	$ 8,567,000	$ 8,260,000
Cost of revenues	8,125,000	7,659,000
Gross profit	442,000	601,000
Operating expenses
Sales and marketing expenses	169,000	564,000
General and administrative expenses	810,000	1,364,000
Research and development expenses	201,000	218,000
Total operating expenses	1,180,000	2,146,000
Loss from operations	(738,000)	(1,545,000)
Other income/(expenses)
Impairment on long-term investments		(471,000)
Interest expense, net	(11,000)	(10,000)
Other expenses	(2,000)	(22,000)
Change in fair value of warrant liabilities	(350,000)	1,474,000
Total other (expenses)/income	(363,000)	971,000
Loss before income tax (expense)/benefit and noncontrolling interests	(1,101,000)	(574,000)
Income tax (expense)/benefit	(39,000)	4,000
Net loss	(1,140,000)	(570,000)
Net loss attributable to noncontrolling interests	2,000	5,000
Net loss attributable to ChinaNet Online Holdings, Inc.	(1,138,000)	(565,000)
Net loss	(1,140,000)	(570,000)
Foreign currency translation adjustment	(36,000)	474,000
Comprehensive loss	(1,176,000)	(96,000)
Comprehensive loss/(income) attributable to noncontrolling interests	3,000	(3,000)
Comprehensive loss attributable to ChinaNet Online Holdings, Inc.	$ (1,173,000)	$ (99,000)
Loss per share
Basic and diluted (in dollars per share)	$ (0.07)	$ (0.04)
Weighted average number of common shares outstanding:
Basic and diluted (in shares)	16,410,543	15,484,082
Unrelated Parties [Member]
Revenues
Revenues	$ 8,560,000	$ 8,260,000
Related Parties [Member]
Revenues
Revenues	$ 7,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net loss	$ (1,140,000)	$ (570,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	38,000	216,000
Amortization of operating lease right-of-use assets	84,000
Share-based compensation expenses	101,000	75,000
Provision for allowances for doubtful accounts	192,000	481,000
Impairment on long-term investments		471,000
Deferred taxes	39,000	(4,000)
Change in fair value of warrant liabilities	350,000	(1,474,000)
Changes in operating assets and liabilities
Accounts receivable	(547,000)	3,413,000
Prepayment and deposit to suppliers	22,000	(1,178,000)
Due from related parties	27,000	3,000
Other current assets	10,000	(47,000)
Accounts payable	(1,833,000)	(2,105,000)
Advances from customers	562,000	(1,668,000)
Accrued payroll and other accruals	114,000	147,000
Other current liabilities	(115,000)	(553,000)
Taxes payable	65,000	(92,000)
Prepaid lease payment	(11,000)
Net cash used in operating activities	(2,270,000)	(3,179,000)
Cash flows from investing activities
Payment for purchase of office equipment		(1,000)
Investment to an ownership investee company	(36,000)
Short-term loan to an unrelated party		(2,000,000)
Collection of short-term loan from an unrelated party		2,672,000
Payment for acquisition of noncontrolling interest		(1,179,000)
Payment for blockchain application platform development costs		(1,200,000)
Purchase of software technology		(448,000)
Net cash used in investing activities	(36,000)	(2,156,000)
Cash flows from financing activities
Proceeds from issuance of common stock and warrant (net of cash offering cost of US$809)		10,263,000
Repayment to investors related to terminated security purchase agreements		(493,000)
Proceeds from short-term bank loan	445,000
Repayment of short-term bank loan	(445,000)
Net cash provided by financing activities		9,770,000
Effect of exchange rate fluctuation on cash and cash equivalents	47,000	116,000
Net /(decrease)/increase in cash, cash equivalents, and restricted cash	(2,259,000)	4,551,000
Cash, cash equivalents, and restricted cash at beginning of the period	3,742,000	2,952,000
Cash, cash equivalents, and restricted cash at end of the period	1,483,000	7,503,000
Supplemental disclosure of cash flow information
Income taxes paid
Interest expense paid	$ 13,000	$ 127,000

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Issuance of common stock, cost	$ 809

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Private Placement [Member] Common Stock [Member]	Private Placement [Member] Additional Paid-in Capital [Member]	Private Placement [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Statutory Reserves [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance, January 1, 2019 (in shares) at Dec. 31, 2017				13,982,542
Balance, January 1, 2019 at Dec. 31, 2017				$ 14	$ 31,554	$ 2,607	$ (20,487)	$ 1,598	$ 177	$ 15,463
Share-based compensation					75					75
Net loss							(565)		(5)	(570)
Foreign currency translation adjustment								466	8	474
Balance (in shares) at Mar. 31, 2018				16,132,543
Balance at Mar. 31, 2018				$ 16	39,615	2,607	(21,052)	2,064	180	23,430
Issuance of common stock for private placement, net of $1.89 million proceeds allocated to investor warrants labilities and $1.20 million direct offering costs (including $0.39 million proceeds allocated to placement agent warrants liabilities), respectively (in shares)	2,150,001
Issuance of common stock for private placement, net of $1.89 million proceeds allocated to investor warrants labilities and $1.20 million direct offering costs (including $0.39 million proceeds allocated to placement agent warrants liabilities), respectively	$ 2	$ 7,986	$ 7,988
Balance, January 1, 2019 (in shares) at Dec. 31, 2018				16,382,543
Balance, January 1, 2019 at Dec. 31, 2018				$ 16	38,275	2,607	(34,512)	1,457	(49)	7,794
Share-based compensation (in shares)				30,000
Share-based compensation					13					13
Net loss							(1,138)		(2)	(1,140)
Foreign currency translation adjustment								(35)	(1)	(36)
Balance (in shares) at Mar. 31, 2019				16,412,543
Balance at Mar. 31, 2019				$ 16	$ 38,288	$ 2,607	$ (35,650)	$ 1,422	$ (52)	$ 6,631

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1A
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Condensed Consolidated Statements of Changes in Equity (Parentheticals)	3 Months Ended
	Mar. 31, 2018 USD ($)
Private Placement [Member] \| Investor Warrants [Member]
Proceeds allocated to warrant liabilities	$ 1,890,000
Private Placement [Member] \| Placement Agent Warrants [Member]
Proceeds allocated to warrant liabilities	390,000
Private Placement [Member]
Direct offering costs	1,200,000
Investor Warrants [Member]
Proceeds allocated to warrant liabilities	664,000
Placement Agent Warrants [Member]
Proceeds allocated to warrant liabilities	137,000
Proceeds allocated to warrant liabilities	$ 801,000

Note 1 - Organization and Nature of Operations

3 Months Ended

Mar. 31, 2019

Nature of Operations [Text Block]

1.	Organization and nature of operations

ChinaNet Online Holdings, Inc. (the “Company”) was incorporated in the State of Texas in

April 2006

and re-domiciled to become a Nevada corporation in

October 2006.

Through a share exchange transaction consummated on

June 26, 2009,

the Company is now a holding company, which, through certain contractual arrangements with operating companies in the People’s Republic of China (the “PRC”), is engaged in providing advertising, precision marketing, online to offline sales channel expansion and the related data services to small and medium enterprises in the PRC, through distribution of the right to use search engine marketing service the Company purchased from key search engines, online advertising placements on the Company’s advertising portals, sales of effective sales lead information and provision of TV advertising service. In early

2018,

the Company announced its expansion into the blockchain industry and the related technology. As of

March 31, 2019,

the Company was still in the process of developing its blockchain-powered marketing and advertising application platform (See Note

Note 2 - Variable Interest Entities

3 Months Ended

Mar. 31, 2019

Variable Interest Entities Disclosure [Text Block]

Variable interest entities

Summarized below is the information related to the VIEs’ assets and liabilities reported in the Company’s condensed consolidated balance sheets as of

March 31, 2019

and

December 31, 2018,

respectively:

		March 31, 2019		December 31, 2018
		US$(’000)		US$(’000)
		(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	673	$	2,328
Accounts receivable, net		6,830		6,359
Prepayment and deposit to suppliers		1,716		1,724
Due from related parties, net		7		26
Other current assets, net		4		11
Total current assets		9,230		10,448

Long-term investments		36		-
Property and equipment, net		68		84
Intangible assets, net		38		42
Operating lease right-of-use assets		20		-
Deferred tax assets, net		527		556
Total Assets	$	9,919	$	11,130

Liabilities
Current liabilities:
Short-term bank loan	$	891	$	874
Accounts payable		1,164		2,868
Advances from customers		1,642		1,059
Accrued payroll and other accruals		179		155
Taxes payable		2,677		2,562
Other current liabilities		65		55
Total current liabilities		6,618		7,573

Total Liabilities	$	6,618	$	7,573

All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do

not

represent additional claims on the Company’s general assets. See additional discussion related to restrictions on foreign currency exchange in the PRC in Note

and Note

19.

Summarized below is the information related to the financial performance of the VIEs reported in the Company’s condensed consolidated statements of operations and comprehensive loss for the

three

months ended

March 31, 2019

and

2018,

respectively:

	Three Months Ended March 31,
		2019			2018
		US$(’000)			US$(’000)
		(Unaudited)			(Unaudited)

Revenues	$	8,567		$	8,253
Cost of revenues		(8,125	)		(7,659	)
Total operating expenses		(711	)		(1,262	)
Net loss before allocation to noncontrolling interests		(322	)		(678	)

Note 3 - Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2019

Significant Accounting Policies [Text Block]

3.	Summary of significant accounting policies

Basis of presentation

The unaudited condensed consolidated interim financial statements are prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The unaudited condensed consolidated interim financial information as of

March 31, 2019

and for the

three

months ended

March 31, 2019

and

2018

have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures, which are normally included in complete consolidated financial statements prepared in accordance with U.S. GAAP, have been omitted pursuant to those rules and regulations. The unaudited condensed consolidated interim financial information should be read in conjunction with the financial statements and the notes thereto, included in the Company’s Annual Report on Form

-K for the fiscal year ended

December 31, 2018,

previously filed with the SEC (the

“2018

Form

-K”) on

April 15, 2019.

In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the Company’s condensed consolidated financial position as of

March 31, 2019,

its condensed consolidated results of operations for the

three

months ended

March 31, 2019

and

2018,

and its condensed consolidated cash flows for the

three

months ended

March 31, 2019

and

2018,

as applicable, have been made. The interim results of operations are

not

necessarily indicative of the operating results for the full fiscal year or any future periods.

Going concern

The Company incurred operating losses and had negative operating cash flows and

may

continue to incur operating losses and generate negative cash flows as the Company implements its future business plan. The Company’s net loss attributable to stockholders for the

three

months ended

March 31, 2019

was approximately

US$1.14

million, compared with approximately

US$0.57

million for the

three

months ended

March 31, 2018.

As of

March 31, 2019,

the Company had cash and cash equivalents of approximately

US$1.48

million and net cash used in operating activities during the

three

months ended

March 31, 2019

was approximately

US$2.27

million.

The Company does

not

currently have sufficient cash or commitments for financing to sustain its operation for the

twelve

months from the issuance date of these financial statements. The Company plans to optimize its internet resources cost investment strategy to improve the gross profit margin of its core business and to further strengthen the accounts receivables collection management and negotiate with vendors for more favorable payment terms, all of which will help to substantially increase the cashflows from operations. If the Company fails to achieve these goals, the Company

may

need additional financing to execute its business plan. If additional financing is required, the Company cannot predict whether this additional financing will be in the form of equity, debt, or another form, and the Company

may

not

be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In the event that financing sources are

not

available, or that the Company is unsuccessful in increasing its gross profit margin and reducing operating losses, the Company

may

be unable to implement its current plans for expansion, repay debt obligations or respond to competitive pressures, any of which would have a material adverse effect on the Company’s business, prospects, financial condition and results of operations. These factors raise substantial doubt about the Company's ability to continue as a going concern within

one

year after the date that the financial statements are issued.

The unaudited condensed consolidated financial statements as of

March 31, 2019

have been prepared under the assumption that the Company will continue as a going concern, which contemplates, among other things, the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable period of time. The Company's ability to continue as a going concern is dependent upon its uncertain ability to increase gross profit margin and reduce operating loss from its core business and/or obtain additional equity and/or debt financing. The accompanying financial statements as of

March 31, 2019

not

include any adjustments that might result from the outcome of these uncertainties. If the Company is unable to continue as a going concern, it

may

have to liquidate its assets and

may

receive less than the value at which those assets are carried on the financial statements.

Principles of consolidation

The unaudited condensed consolidated interim financial statements include the accounts of all the subsidiaries and VIEs of the Company. All transactions and balances between the Company and its subsidiaries and VIEs have been eliminated upon consolidation.

Use of estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of these consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company continually evaluates these estimates and assumptions based on the most recently available information, historical experience and various other assumptions that the Company believes to be reasonable under the circumstances. Since the use of estimates is an integral component of the financial reporting process, actual results could differ from those estimates.

Foreign currency translation

The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows:

			March 31, 2019				December 31, 2018
Balance sheet items, except for equity accounts			6.7335				6.8632

	Three Months Ended March 31,
		2019	2018
Items in the statements of operations and comprehensive loss, and statements of cash flows		6.7468	6.3632

representation is made that the RMB amounts could have been, or could be converted into US$ at the above rates.

Fair value measurement

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of

March 31, 2019

and

December 31, 2018

are as follows:

Fair value measurement at reporting date using

As of

March 31, 2019

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

(Unaudited)

Warrant liabilities (Note 16)

956

Fair value measurement at reporting date using

As of

December 31, 2018

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities (Note 16)

606

Revenue recognition

All of the Company’s revenues are generated from the PRC. The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition:

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)
Internet advertising and data service
--distribution of the right to use search engine marketing service		6,725	6,443
--online advertising placements		1,831	1,597
--sales of effective sales lead information		6	122
TV advertising service		-	91
Others		5	7
Total revenues		8,567	8,260

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)

Revenue recognized over time		8,561	8,138
Revenue recognized at a point in time		6	122
Total revenues		8,567	8,260

Contract costs

For the

three

months ended

March 31, 2019

and

2018,

the Company did

not

have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic

606,

that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract.

Contract balances

The table below summarized the movement of the Company’s contract liabilities for the

three

months ended

March 31, 2019:

	Advance from customers
	US$(’000)

Balance as of January 1, 2019	1,061
Exchange translation adjustment	20
Revenue recognized from beginning contract liability balance	(548	)
Advances received from customers related to unsatisfied performance obligations	1,111
Balance as of March 31, 2019 (Unaudited)	1,644

Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu

stomers were insignifi

cant for both the

three

months ended

March 31, 2019

and

2018.

For the

three

months ended

March 31, 2019

and

2018,

there is

revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

The Company has elected to apply the practical expedient in paragraph ASC Topic

606

and did

not

disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of

March 31, 2019,

because all performance obligations of the Company’s contracts with customers have an original expected duration of

one

year or less.

Advertising expenses

Advertising costs for the Company’s own brand building are expensed when incurred and are included in “sales and marketing expenses” in the statements of operations and comprehensive loss. For the

three

months ended

March 31, 2019

and

2018,

advertising expenses for the Company’s own brand building were approximately US$nil and

US$389,000,

respectively.

Research and development expenses

The Company accounts for expenses for the enhancement, maintenance and technical support to the Company’s Internet platforms and intellectual properties that are used in its daily operations in research and development expenses. Research and development costs are charged to expense when incurred. Expenses for research and development for the

three

months ended

March 31, 2019

and

2018

were approximately

US$201,000

and

US$218,000,

respectively.

Lease

January 1, 2019,

the Company adopted ASC Topic

842,

“Lease”, applying the optional transition method in accordance with ASU

No.

2018

11,

which permitted the Company to change its date of initial application to the beginning of the period of adoption of ASC Topic

842

(i.e.

January 1, 2019)

and recognize the effects of applying ASC Topic

842

as a cumulative-effect adjustment to retained earnings as of

January 1, 2019,

and remain applying ASC Topic

840

in the comparative periods. The adoption of ASC Topic

842

didn’t result in a material adjustment to the Company’s accumulated deficit as of

January 1, 2019.

The Company leases

two

offices in the PRC from unrelated

third

parties during its normal course of business, of which

one

office is used as the Company’s principle executive office in Beijing, the other is used as the Company’s office in Hubei. Other than these, the Company does

not

have any other contract that is or contains a lease under ASC Topic

842.

The Company’s lease contracts do

not

contain any option for the Company to extend or terminate the lease, and do

not

contain the option for the Company to purchase the underlying assets. Based on the noncancelable lease period in the contract, the Company considers contract-based, asset-based, market-based and entity-based factors to determine the term over which it is reasonably certain to extend the lease, and then determine the lease term of each contract, which is

years.

The Company’s lease contracts only contain fixed lease payments and do

not

contain any residual value guarantee. The lease payments of the Company’s Beijing office are required to be paid on a quarterly basis, and the lease payments of its Hubei office are required to be paid on an annual basis.

The Company’s office lease contracts do

not

contain any nonlease component and are classified as operating leases in accordance with ASC Topic

842

As the implicit rates of the Company leases cannot be readily determined, in accordance with ASC Topic

842

the Company uses its incremental borrowing rate as the discount rate to determine the present value of the lease payments for each lease contract. The discount rate used by the Company is

6%,

which is determined based on the interest rate commonly used by the commercial banks in the PRC for the

years long-term loan lent to business entities on a collateralized basis.

As of

March 31, 2019,

operating lease right-of-use assets recognized by the Company was approximately

US$20,000,

operating lease liabilities recognized was approximately

US$10,000,

which was included in the Company’s other current liabilities.

For the

three

months ended

March 31, 2019,

total operating lease cost recognized under ASC Topic

842

was approximately

US$0.09

million. For the

three

months ended

March 31, 2018,

operating lease cost recognized under ASC Topic

840

was approximately

US$0.10

million.

Maturity of lease liabilities

	Operating leases
	US$(’000)
	(Unaudited)
Nine months ending December 31,
-2019	-
Year ending December 31,
-2020	11
Total undiscounted lease payments	11
Less: imputed interest	(1	)
Operating lease liabilities as of March 31, 2019	10

Supplemental information related to operating leases

(All amounts are presented in thousands of U.S. dollars):

Operating cash flows used for operating leases	93
Right-of-use assets obtained in exchange for new lease liabilities	10
Weighted-average remaining lease term (years)	1.96
Weighted-average discount rate	6	%

Impact of recently issued accounting pronouncements

June 2016,

the FASB issued ASU

No.

2016

13,

“Financial Instruments-Credit Losses (Topic

326

): Measurement of Credit Losses on Financial Instruments”. The amendments in this ASU require the measurement and recognition of expected credit losses for financial assets held at amortized cost. The amendments in this ASU replace the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. In

November 2018,

the FASB issued ASU

No.

2018

19,

“Codification Improvements to Topic

326,

Financial Instruments-Credit Losses”, which among other things, clarifies that receivables arising from operating leases are

not

within the scope of Subtopic

326

20.

Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic

842,

Leases. For public entities, the amendments in these ASU are effective for fiscal years beginning after

December 15, 2019,

including interim periods within those fiscal years. The Company is currently evaluating the impact on its consolidated financial position and results of operations upon adopting these amendments.

August

2018,

the FASB issued ASU

No.

2018

13,

“Fair Value Measurement (Topic

820

): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement”. The amendments in this ASU eliminate, add and modify certain disclosure requirements for fair value measurements. The amendments in this ASU, among other things, require public companies to disclose the range and weighted average used to develop significant unobservable inputs for Level

fair value measurements. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019,

and entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The Company does

not

expect the adoption of these amendments to have a material impact on its consolidated financial position and results of operations.

Note 4 - Accounts Receivable, Net

3 Months Ended

Mar. 31, 2019

Accounts Receivable Disclosure [Text Block]

Accounts receivable, net

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

Accounts receivable	10,481		9,752
Allowance for doubtful accounts	(3,651	)	(3,393	)
Accounts receivable, net	6,830		6,359

All of the accounts receivable are non-interest bearing. Based on the assessment of the collectability of the accounts receivable as of

March 31, 2019

and

December 31, 2018

the Company provided approximately

US$3.7

million and

US$3.4

million allowance for doubtful accounts, respectively, which were primarily related to the accounts receivable of the Company’s internet advertising and TV advertising business segment with an aging over

six

months. The Company evaluates its accounts receivable with an aging over

six

months and determines the allowance based on aging data, historical collection experience, customer specific facts and economic conditions. For the

three

months ended

March 31, 2019

and

2018,

approximately

US$0.19

million and

US$0.47

million allowance for doubtful accounts was provided, respectively.

Note 5 - Prepayments and Deposit to Suppliers

3 Months Ended

Mar. 31, 2019

Prepayments and Deposits to Suppliers Disclosure [Text Block]

Prepayments and deposit to suppliers

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

Deposits to internet resources providers	743	963
Prepayments to internet resources providers	936	727
Other deposits and prepayments	400	464
	2,079	2,154

Note 6 - Due From Related Parties, Net

3 Months Ended

Mar. 31, 2019

6.	Due from related parties, net

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

An officer of the Company	200		200
Guohua Shiji (Beijing) Communication Co., Ltd.	178		201
Zhong Wang Xi Yue Technology (Beijing) Co., Ltd.	7		-
	385		401
Allowance for doubtful accounts	(178	)	(175	)
Due from related parties, net	207		226

parties of the Company represented the Company’s direct or indirect unconsolidated investee companies, entities that the Company’s officers or directors can exercise significant influence, as well as an officer of the Company.

Due from an officer of the Company as of

March 31, 2019

and

December 31, 2018

represented a

US$0.20

million fund advanced to

one

of the Company’s officers during the

third

fiscal quarter of

2018

for the purpose of setting up and providing finance to a proposed business entity in Taiwan. The Company intended to set up and expand its business in Taiwan through establishing the VIE arrangements with this Taiwan entity. This Taiwan entity was incorporated in

September 2017

and is wholly-owned by the officer referred above, as of

March 31, 2019,

this entity had

fund and business activities. Based on the fact that there are still legal obstacles to establish the VIE agreements between an entity that is ultimately controlled by the PRC citizens with an entity duly organized under the law of Taiwan, the Company terminated the plan, and the

US$0.2

million fund advanced was fully returned to the Company subsequently in

April 2019.

As of

March 31, 2019

and

December 31, 2018,

due from related parties also included a short-term working capital loan to Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”). As of

December 31, 2018,

the outstanding amount of the loan was

RMB1.38

million (approximately

US$0.20

million), of which

RMB0.18

million (approximately

US$0.03

million) was collected by the Company during the

first

fiscal quarter of

2019,

and the Company had provided full allowance to against the remaining amount of this loan as of

March 31, 2019

and

December 31, 2018,

as the business activities of Guohua Shiji had become dormant and recovery was considered remote.

As of

March 31, 2019,

amount due from Zhong Wang Xi Yue Technology (Beijing) Co., Ltd. (“Zhong Wang Xi Yue”) represented service fee receivables in connection to advertising and marketing services the Company provided to this related party in its normal course of business on the same terms as those provided to its unrelated clients.

For the

three

months ended

March 31, 2018,

the Company provided approximately

US$0.01

million additional allowance for doubtful accounts to against the Company’s balances due from related parties.

Note 7 - Other Current Assets, Net

3 Months Ended

Mar. 31, 2019

Other Current Assets [Text Block]

7.	Other current assets, net

	March 31, 2019					December 31,2018
		Gross	Allowance for doubtful accounts		Net		Gross	Allowance for doubtful accounts		Net
		US$(’000)	US$(’000)		US$(’000)		US$(’000)	US$(’000)		US$(’000)
		(Unaudited)	(Unaudited)		(Unaudited)

Loan to an unrelated party		149	(149	)	-		146	(146	)	-
Staff advances for business operations		9	-		9		19	-		19
Overdue deposits		1,650	(1,650	)	-		1,619	(1,619	)	-
Total		1,808	(1,799	)	9		1,784	(1,765	)	19

As of

March 31, 2019

and

December 31, 2018,

loan to an unrelated party represented a short-term working capital loan of

RMB1.0

million (approximately

US$0.15

million) lent to a former unconsolidated investee of the Company. Based on the assessment of the collectability of the loan as of

March 31, 2019

and

December 31, 2018,

the Company had provided full allowance against this loan.

As of

March 31, 2019

and

December 31, 2018,

other current assets also included an approximately

RMB11

million (approximately

US$1.6

million) overdue contractual deposits, which were related to advertising resources purchase contracts that had been completed with

further cooperation. Based on the assessment of the collectability of these overdue deposits as of

March 31, 2019

and

December 31, 2018,

the Company had provided full allowance against these doubtful accounts.

Note 8 - Long-term Investments

3 Months Ended

Mar. 31, 2019

Equity Method Investments and Joint Ventures Disclosure [Text Block]

8.	Long-term investments

As of

March 31, 2019,

long-term investment of approximately

RMB0.25

million (approximately

US$0.04

million) represented the Company’s contribution of its pro-rata share of cash investment to

one

of its equity ownership investee entities, Local Chain Xi’an Information Technology Co., Ltd. (“Local Chain Xi’an) in

January 2019.

Local Chain Xi’an was incorporated in

October 2018,

the Company beneficially owns

4.9%

equity interest in this entity. As of

March 31, 2019,

Local Chain

i’an was still in

its start-up stage.

The Company measures this investment which do

not

have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Company.

As of

March 31, 2019

and

December 31, 2018,

the Company had provided full impairment to against the remaining carrying value of long-term investments in other of its equity ownership investee entities, except Local Chain Xi’an, as their business activities had become dormant and recovery was considered remote.

Note 9 - Property and Equipment, Net

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment Disclosure [Text Block]

Property and equipment, net

	March 31, 2019			December 31, 2018
	US$(’000)			US$(’000)
	(Unaudited)

Leasehold improvement		327			321
Vehicles		785			771
Office equipment		1,379			1,353
Electronic devices		971			952
Property and equipment, cost		3,462			3,397
Less: accumulated depreciation		(3,350	)		(3,255	)
Property and equipment, net		112			142

Depreciation expenses for the

three

months ended

March 31, 2019

and

2018

were approximately

US$33,000

and

US$48,000,

respectively.

Note 10 - Intangible Assets, Net

3 Months Ended

Mar. 31, 2019

Intangible Assets Disclosure [Text Block]

10.

Intangible assets, net

	As of March 31, 2019 (Unaudited)
Items		Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
		US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets not subject to amortization:
Domain name		1,435		-			(1,435	)		-
Intangible assets subject to amortization:
Customer relationship		1,979		(1,979	)		-			-
Non-compete agreements		1,089		(592	)		(497	)		-
Software technologies		304		(304	)		-			-
Cloud compute software technology		1,378		(917	)		(423	)		38
Intelligent marketing data service platform		4,795		(1,942	)		(2,853	)		-
Internet safety, information exchange security and data encryption software		1,931		(435	)		(1,496	)		-
Cloud video management system		1,411		(350	)		(1,061	)		-
Other computer software		116		(113	)		-			3
Total	$	14,438	$	(6,632	)	$	(7,765	)	$	41

	As of December 31, 2018
Items		Gross Carrying Value		Accumulated Amortization			Impairment			Net Carrying Value
		US$(’000)		US$(’000)			US$(’000)			US$(’000)
Intangible assets not subject to amortization:
Domain name		1,408		-			(1,408	)		-
Intangible assets subject to amortization:
Customer relationship		1,941		(1,941	)		-			-
Non-compete agreements		1,068		(580	)		(488	)		-
Software technologies		299		(299	)		-			-
Cloud compute software technology		1,353		(896	)		(415	)		42
Intelligent marketing data service platform		4,705		(1,906	)		(2,799	)		-
Internet safety, information exchange security and data encryption software		1,894		(426	)		(1,468	)		-
Cloud video management system		1,383		(343	)		(1,040	)		-
Other computer software		114		(111	)		-			3
Total	$	14,165	$	(6,502	)	$	(7,618	)	$	45

Amortization expenses for the

three

months ended

March 31, 2019

and

2018

were approximately

US$5,000

and

US$168,000,

respectively.

Based on the adjusted carrying value of the finite-lived intangible assets after the deduction of the impairment losses, which has a weighted average remaining useful life of

2.23

years as of

March 31, 2019,

and assuming

further subsequent impairment of the underlying intangible assets, the estimated future amortization expenses is approximately

US$14,000

for the year ending

December 31, 2019,

approximately

US$19,000

for the year ending

December 31, 2020

and approximately

US$9,000

for the year ending

December 31, 2021.

Note 11 - Blockchain Software Application Platform Development Costs

3 Months Ended

Mar. 31, 2019

Research, Development, and Computer Software Disclosure [Text Block]

11.	Blockchain software application platform development costs

February 2018,

the Company entered into a contract with an unrelated entity to develop certain blockchain technology-based software application platform for internal use. Total amount of the contract was

US$4.5

million. In

March 2018,

the Company entered into a

RMB3.0

million (approximately

US$0.44

million) social network-based software application development contract with another unrelated entity, which software application the Company had further decided to be combined into the current under developing blockchain technology-based application platform, as discussed above. As of

March 31, 2019,

in accordance with ASC

350

“Intangibles-Goodwill and Other-Internal-Use Software”, the Company had capitalized approximately

US$3.73

million software development costs in the aggregate for these

two

contracts. The Company is currently testing the partially-finished beta modules of the blockchain technology-based applications. The complete combined beta version of the platform is expected to be ready for trial in mid-

2019,

and the development project is expected to be completed by the end of

2019.

According to the development contracts the Company signed with the counter parties, the Company will

not

bear any development risk related loss unless the counter party has

fault during the development and the causes for failure is considered reasonable as consented by both parties. In the latter case, the related development loss will be shared by both parties based on further negotiation. As of the date hereof, the Company does

not

aware of any technical risks that

may

lead to failure or partial failure of these development projects.

Note 12 - Short-term Bank Loan and Credit Facility

3 Months Ended

Mar. 31, 2019

Short-term Debt [Text Block]

12.	Short-term bank loan and credit facility

As of

March 31, 2019,

the Company had a revolving credit facility of

RMB5.0

million (approximately

US$0.7

million) for short-term working capital loans granted by a major financial institution in China, which currently is available to the Company until

January 2020.

As of

March 31, 2019,

under the revolving credit facility, the Company borrowed

RMB3.0

million (approximately

US$0.45

million) short-term loan, which will mature in

January 2020.

As of

March 31, 2019,

the Company borrowed another

RMB3.0

million (approximately

US$0.45

million) short-term working capital loan from the same financial institution, of which

RMB1.5

million (approximately

US$0.22

million) will mature in

July 2019

and the remaining

RMB1.5

million (approximately

US$0.22

million) will mature in

September 2019.

Collateral for the above discussed revolving credit facility and short-term bank loans included an unlimited guarantee from Mr. Handong Cheng (Chairman and Chief Executive Officer of the Company) and his spouse and an approximately

US$0.03

million term deposit, included in the Company’s cash and cash equivalents, which will mature on

September 21, 2019.

Interest rate of the current outstanding short-term working capital loans was

5.655%

per annum, which is

30%

over the benchmark rate of the People’s Bank of China (the “PBOC”).

Note 13 - Accrued Payroll and Other Accruals

3 Months Ended

Mar. 31, 2019

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

13.	Accrued payroll and other accruals

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

Accrued payroll and staff welfare	238	208
Accrued operating expenses	173	313
	411	521

Note 14 - Taxation

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Text Block]

14.

Taxation

)

Income tax

The entities within the Company file separate tax returns in the respective tax jurisdictions in which they operate.

i). The Company is incorporated in the state of Nevada. Under the current law of Nevada, the Company is

not

subject to state corporate income tax. Following the Share Exchange, the Company became a holding company and does

not

conduct any substantial operations of its own. Effective from

January 1, 2018,

the Company is subject to the new GILTI tax rules. The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of controlled foreign corporations (“CFCs”), subject to the possible use of foreign tax credits and a deduction equal to

percent to offset the income tax liability, subject to some limitations. Under U.S. GAAP, the Company has made an accounting policy choice of treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current period expense when incurred. For the

three

months ended

March 31, 2019

and

2018,

provision for federal corporate income tax has been made in the financial statements as the Company has

aggregated positive tested income.

ii). China Net BVI and ChinaNet Investment BVI were incorporated in the British Virgin Islands (“BVI”). Under the current law of the BVI, these BVI companies are

not

subject to tax on income or capital gains. Additionally, upon payments of dividends by these BVI companies to its respective shareholders,

BVI withholding tax will be imposed.

iii). China Net HK was incorporated in Hong Kong and does

not

conduct any substantial operations of its own. Effective from

April 1, 2018,

two

-tier corporate income tax system was officially implemented in Hong Kong. The applicable income tax rate is

8.25%

for the

first

HK$2.0

million profits, and the subsequent profits are taxed at

16.5%.

provision for Hong Kong income tax has been made in the financial statements as China Net HK has

assessable profits for the

three

months ended

March 31, 2019

or any prior periods. Additionally, upon payments of dividends by China Net HK to its shareholders,

Hong Kong withholding tax will be imposed.

iv). The Company’s PRC operating subsidiaries and VIEs, being incorporated in the PRC, are governed by the income tax law of the PRC and is subject to PRC enterprise income tax (“EIT”). The EIT rate of PRC is

25%,

which applies to both domestic and foreign invested enterprises.

•

As approved by the related PRC governmental authorities, Business Opportunity Online continuously qualified as a High and New Technology Enterprise until

November 2021,

which enabled the entity, as approved by the local tax authorities of Beijing, the PRC, to continue enjoying the preferential EIT rate of

15%

until

November 2021.

Therefore, for the

three

months ended

March 31, 2019

and

2018,

the applicable EIT rate of Business Opportunity Online was

15%.

In accordance with the

2018

Bulletin

No.

issued by the PRC State Administration of Taxation, which come into effect from

January 1, 2018,

an enterprise that obtains qualification as or remains as a High and New Technology Enterprise or Small and Medium-sized Tech Enterprise in any time of

2018

and afterwards, is allowed to carry forward all its previous

five

years’ net operating losses NOLs (starting from NOL of

2013

) to up to

ten

years, compared with the PRC standard NOLs carryforward period of

years.


	•	The applicable EIT rate for other PRC operating entities of the Company was 25% for the three months ended March 31, 2019 and 2018.


	•	The current EIT law also imposed a 10% withholding income tax for dividends distributed by a foreign invested enterprise to its immediate holding company outside China. A lower withholding tax rate will be applied if there is a tax treaty arrangement between mainland China and the jurisdiction of the foreign holding company. Holding companies in Hong Kong, for example, will be subject to a 5% withholding tax rate, subject to approval from the related PRC tax authorities.

)

Turnover taxes and the relevant surcharges

Service revenues provided by the Company’s PRC operating subsidiaries and VIEs were subject to Value Added Tax (“VAT”). VAT rate for provision of modern services (other than lease of corporeal movables) is

6%,

and for small scale taxpayer,

3%.

Therefore, for the

three

months ended

March 31, 2019

and

2018,

the Company’s service revenues are subject to VAT at a rate of

6%,

after deducting the VAT paid for the services purchased from suppliers, or at a rate of

without any deduction of VAT paid for the services purchased from suppliers. The surcharges of the VAT in the aggregate is

12%

14%

of the VAT, depending on which tax jurisdiction the Company’s PRC operating subsidiaries and VIE operate in.

As of

March 31, 2019

and

December 31, 2018,

taxes payable consists of:

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

PRC turnover tax and surcharge payable	1,304	1,215
PRC enterprise income tax payable	1,816	1,782
Total taxes payable	3,120	2,997

For the

three

months ended

March 31, 2019

and

2018,

the Company’s income tax (expense)/benefit consisted of:

	Three Months Ended March 31,
		2019		2018
		US$(’000)		US$(’000)
		(Unaudited)		(Unaudited)

Current-PRC		-		-
Deferred-PRC		(39	)	4
Income tax (expense)/benefit		(39	)	4

The Company’s deferred tax assets as of

March 31, 2019

and

December 31, 2018

were as follows:

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

Tax effect of net operating losses carried forward	9,466		9,243
Bad debts provision	1,240		1,188
Valuation allowance	(10,179	)	(9,875	)
Deferred tax assets, net	527		556

The U.S. holding company has incurred aggregate NOLs of approximately

US$19.4

million and

US$19.2

million as of

March 31, 2019

and

December 31, 2018,

respectively. The NOLs carryforwards as of

December 31, 2017

gradually expire over time, the last of which expires in

2037.

NOLs incurred after

December 31, 2017

will

longer be available to carry back but can be carried forward indefinitely, subject to an annual limit of

80%

on the amount of taxable income that can be offset by NOLs arising in tax years ending after

December 31, 2017.

The Company maintains a full valuation allowance against its net U.S. deferred tax assets, since due to uncertainties surrounding future utilization, the Company estimates there will

not

be sufficient future earnings to utilize its U.S. deferred tax assets.

The NOLs carried forward incurred by the Company’s PRC subsidiaries and VIEs were approximately

US$25.6

million and

US$25.2

million as of

March 31, 2019

and

December 31, 2018,

respectively. The losses carryforwards gradually expire over time, the last of which expires in

2029

due to certain subsidiary enjoys the High and New Technology Enterprise’s privileged NOLs carryforward policy. The related deferred tax assets were calculated based on the respective NOLs incurred by each of the PRC subsidiaries and VIEs and the respective corresponding enacted tax rate that will be in effect in the period in which the losses are expected to be utilized.

The Company recorded approximately

US$10.2

million and

US$9.9

million valuation allowance as of

March 31, 2019

and

December 31, 2018,

respectively, because it is considered more likely than

not

that a portion of the deferred tax assets will

not

be realized through sufficient future earnings of the entities to which the operating losses related.

For the

three

months ended

March 31, 2019

and

2018,

the Company recorded approximately

US$0.2

million and

US$0.4

million deferred tax valuation allowance, respectively. For the

three

months ended

March 31, 2019,

the Company also utilized approximately

US$0.06

million previously recognized deferred tax assets.

Note 15 - Long-term Borrowing From a Director

3 Months Ended

Mar. 31, 2019

Long-Term Borrowing from Director Disclosure [Text Block]

15.

Long-term borrowing from a director

Long-term borrowing from a director is a non-interest bearing loan from a director of the Company relating to the original paid-in capital contribution in the Company’s wholly-owned subsidiary Rise King WFOE, which is

not

expected to be repaid within

one

year.

Note 16 - Warrant Liabilities

3 Months Ended

Mar. 31, 2019

Warrants Disclosure [Text Block]

16.

Warrant liabilities

January 17, 2018,

the Company consummated a registered direct offering of

2,150,001

shares of the Company’s common stock to certain institutional investors at a purchase price of

$5.15

per share (“the Financing”). As part of the transaction, the Company also issued to the investors and the placement agent warrants for the purchase of up to

645,000

and

129,000

shares of the Company’s common stock at an exercise price of

$6.60

per share, respectively.

The Company accounted for the warrants issuing in the Financing as derivative liabilities, as the strike price of the warrants is dominated in a currency (U.S. dollar) other than the functional currency of the Company (Renminbi or Yuan) and is

not

considered index to the Company’s own stock. As a result, these warrants were remeasured at fair value with changes in fair value be recorded in earnings in each reporting period.

Fair value of the warrants

The Company used Binomial model to determine the fair value of the Warrants based on the assumptions summarized as below:

	Investors warrants						Placement agent warrants
		As of December 31, 2018			As of March 31, 2019			As of December 31, 2018			As of March 31, 2019

Stock price	$	1.34		$	1.95		$	1.34		$	1.95
Years to maturity		1.55			1.30			2.05			1.80
Risk-free interest rate		2.50	%		2.27	%		2.50	%		2.27	%
Dividend yield		-			-			-			-
Expected volatility		199	%		216	%		176	%		187	%
Exercise Price	$	6.60		$	6.60		$	6.60		$	6.60

Fair value of the warrant	$	0.78		$	1.23		$	0.80		$	1.26

	Investors warrants						Placement agent warrants
		As of January 17, 2018			As of March 31, 2018			As of January 17, 2018			As of March 31, 2018

Stock price	$	3.98		$	1.67		$	3.98		$	1.67
Years to maturity		2.5			2.3			3.0			2.8
Risk-free interest rate		2.22	%		2.35	%		2.39	%		2.50	%
Dividend yield		-			-			-			-
Expected volatility		158	%		164	%		147	%		152	%
Exercise Price	$	6.60		$	6.60		$	6.60		$	6.60

Fair value of the warrant	$	2.93		$	1.03		$	2.99		$	1.06

Changes in fair value of warrant liabilities

Three Months Ended

March 31, 2019 (

Unaudited)

	As of March 31, 2019	As of December 31, 2018	Change in Fair Value (gain)/loss
	US$’000	US$’000	US$’000
Fair value of the Warrants:
Investor warrants	793	503	290
Placement agent warrants	163	103	60
Warrant liabilities	956	606	350

Three Months Ended

March 31, 2018 (

Unaudited)

	As of March 31, 2018	As of January 17, 2018	Change in Fair Value (gain)/loss
	US$’000	US$’000	US$’000
Fair value of the Warrants:
Investor warrants	664	1,890	(1,226	)
Placement agent warrants	137	385	(248	)
Warrant liabilities	801	2,275	(1,474	)

Warrants issued and outstanding as of

March 31, 2019

and their movements during the

three

months then ended are as follows:

	Warrant Outstanding					Warrant Exercisable
		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2019		774,000	1.63	$	6.60		774,000	1.63	$	6.60
Granted/Vested		-					-
Forfeited		-					-
Exercised		-					-
Balance, March 31, 2019 (Unaudited)		774,000	1.38	$	6.60		774,000	1.38	$	6.60

Note 17 - Restricted Net Assets

3 Months Ended

Mar. 31, 2019

Restricted Assets Disclosure [Text Block]

17.	Restricted net assets

As all of the Company’s operations are conducted through its PRC subsidiaries and VIEs, the Company’s ability to pay dividends is primarily dependent on receiving distributions of funds from its PRC subsidiaries and VIEs. Relevant PRC statutory laws and regulations permit payments of dividends by its PRC subsidiaries and VIEs only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations and after it has met the PRC requirements for appropriation to statutory reserves. Paid in capital of the PRC subsidiaries and VIEs included in the Company’s consolidated net assets are also non-distributable for dividend purposes.

In accordance with the PRC regulations on Enterprises with Foreign Investment, a WFOE established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A WFOE is required to allocate at least

10%

of its annual after-tax profit to the general reserve until such reserve has reached

50%

of its registered capital based on the enterprise’s PRC statutory accounts. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors. The aforementioned reserves can only be used for specific purposes and are

not

distributable as cash dividends. Rise King WFOE is subject to the above mandated restrictions on distributable profits. Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide a statutory common reserve of at least

10%

of its annual after-tax profit until such reserve has reached

50%

of its registered capital based on the enterprise’s PRC statutory accounts. A domestic enterprise is also required to provide for a discretionary surplus reserve, at the discretion of the board of directors. The aforementioned reserves can only be used for specific purposes and are

not

distributable as cash dividends. All of the Company’s other PRC subsidiaries and PRC VIEs are subject to the above mandated restrictions on distributable profits.

As a result of these PRC laws and regulations, the Company’s PRC subsidiaries and VIEs are restricted in their ability to transfer a portion of their net assets to the Company. As of

March 31, 2019

and

December 31, 2018,

net assets restricted in the aggregate, which include paid-in capital and statutory reserve funds of the Company’s PRC subsidiaries and VIEs that are included in the Company’s consolidated net assets, were both approximately

US$12.0

million.

The current PRC Enterprise Income Tax (“EIT”) Law also imposed a

10%

withholding income tax for dividends distributed by a foreign invested enterprise to its immediate holding company outside China. A lower withholding tax rate will be applied if there is a tax treaty arrangement between mainland China and the jurisdiction of the foreign holding company. Holding companies in Hong Kong, for example, will be subject to a

withholding tax rate, subject to approval from the related PRC tax authorities.

The ability of the Company’s PRC subsidiaries and VIEs to make dividends and other payments to the Company

may

also be restricted by changes in applicable foreign exchange and other laws and regulations.

Foreign currency exchange regulation in China is primarily governed by the following rules:

•

Foreign Exchange Administration Rules (

1996

), as amended in

August 2008,

or the Exchange Rules;

•

Administration Rules of the Settlement, Sale and Payment of Foreign Exchange (

1996

), or the Administration Rules.

Currently, under the Administration Rules, Renminbi is freely convertible for current account items, including the distribution of dividends, interest payments, trade and service related foreign exchange transactions, but

not

for capital account items, such as direct investments, loans, repatriation of investments and investments in securities outside of China, unless the prior approval of the State Administration of Foreign Exchange (the “SAFE”) is obtained and prior registration with the SAFE is made. Foreign-invested enterprises like Rise King WFOE that need foreign exchange for the distribution of profits to its shareholders

may

effect payment from their foreign exchange accounts or purchase and pay foreign exchange rates at the designated foreign exchange banks to their foreign shareholders by producing board resolutions for such profit distribution. Based on their needs, foreign-invested enterprises are permitted to open foreign exchange settlement accounts for current account receipts and payments of foreign exchange along with specialized accounts for capital account receipts and payments of foreign exchange at certain designated foreign exchange banks.

Although the current Exchange Rules allow the convertibility of Chinese Renminbi into foreign currency for current account items, conversion of Chinese Renminbi into foreign exchange for capital items, such as foreign direct investment, loans or securities, requires the approval of SAFE, which is under the authority of the People’s Bank of China. These approvals, however, do

not

guarantee the availability of foreign currency conversion. The Company cannot be sure that it will be able to obtain all required conversion approvals for its operations or the Chinese regulatory authorities will

not

impose greater restrictions on the convertibility of Chinese Renminbi in the future. Currently, most of the Company’s retained earnings are generated in Renminbi. Any future restrictions on currency exchanges

may

limit the Company’s ability to use its retained earnings generated in Renminbi to make dividends or other payments in U.S. dollars or fund possible business activities outside China.

Note 18 - Employee Defined Contribution Plan

3 Months Ended

Mar. 31, 2019

Pension and Other Postretirement Benefits Disclosure [Text Block]

18.	Employee defined contribution plan

Full time employees of the Company in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Company make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The employee benefits were expensed as incurred. The Company has

legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits were approximately

US$93,000

and

US$88,000

for the

three

months ended

March 31, 2019

and

2018,

respectively.

Note 19 - Concentration of Risk

3 Months Ended

Mar. 31, 2019

Concentration Risk Disclosure [Text Block]

19.

Concentration of risk

Credit risk

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. As of Mach

31,

2019,

56%

of the Company’s cash and cash equivalents were held by major financial institutions located in Mainland China, the remaining

44%

was held by a financial institution located in the United States of America. The Company believes that these financial institutions located in Mainland China and the United States of America are of high credit quality. For accounts receivable, the Company extends credit based on an evaluation of the customer’s financial condition, generally without requiring collateral or other security. In order to minimize the credit risk, the Company delegated a team responsible for credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. Further, the Company reviews the recoverable amount of each individual receivable at each balance sheet date to ensure that adequate allowances are made for doubtful accounts. In this regard, the Company considers that the Company’s credit risk for accounts receivable and other receivables is significantly reduced.

Risk arising from operations in foreign countries

All of the Company’s operations are conducted within the PRC. The Company’s operations in the PRC are subject to various political, economic, and other risks and uncertainties inherent in the PRC. Among other risks, the Company’s operations in the PRC are subject to the risks of restrictions on transfer of funds, changing taxation policies, foreign exchange restrictions; and political conditions and governmental regulations.

Currency convertibility risk

Significant part of the Company’s businesses is transacted in RMB, which is

not

freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. These exchange control measures imposed by the PRC government authorities

may

restrict the ability of the Company’s PRC subsidiaries and VIEs to transfer its net assets, which to the Company through loans, advances or cash dividends.

Concentration of customers

The following tables summarized the information about the Company’s concentration of customers for the

three

months ended

March 31, 2019

and

2018,

respectively:

	Customer A	Customer B	Customer C
Three Months Ended March 31, 2019
Revenues, customer concentration risk	17%	-	*

Three Months Ended March 31, 2018
Revenues, customer concentration risk	-	36%	*

As of March 31, 2019
Accounts receivable, customer concentration risk	72%	-	11%

As of December 31, 2018
Accounts receivable, customer concentration risk	74%	-	12%

* Less than

10%.

Concentration of suppliers

The following tables summarized the information about the Company’s concentration of suppliers for the

three

months ended

March 31, 2019

and

2018,

respectively:

	Supplier A	Supplier B
Three Months Ended March 31, 2019
Cost of revenues, supplier concentration risk	89%	*

Three Months Ended March 31, 2018
Cost of revenues, supplier concentration risk	73%	21%

* Less than

10%.

Note 20 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Text Block]

20.

Commitments and contingencies

2018,

the Company entered into contracts with

two

unrelated

third

parties in relation to the development of the Company’s blockchain-powered marketing and advertising application platform. Total contract amount of these

two

contracts was approximately

US$4.94

million. As of

March 31, 2019,

the Company had paid approximately

US$3.73

million in the aggerate, the remaining unpaid contract amount is expected to be paid during the year ending

December 31, 2019.

The Company is currently

not

a party to any legal or administrative proceedings and are

not

aware of any pending or threatened legal or administrative proceedings against us in all material aspects. The Company

may

from time to time become a party to various legal or administrative proceedings arising in its ordinary course of business.

Note 21 - Segment Reporting

3 Months Ended

Mar. 31, 2019

Segment Reporting Disclosure [Text Block]

21.	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, 2019 (

Unaudited)

		Internet Ad. and data service			TV Ad.			Blockchain technology			Corporate			Inter- segment and reconciling item			Total
	US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)

Revenues		8,567			-			-			-			-			8,567
Cost of revenues		8,125			-			-			-			-			8,125
Total operating expenses		705			18			5			452	(1)		-			1,180
Depreciation and amortization expense included in total operating expenses		23			-			-			15			-			38
Operating loss		(263	)		(18	)		(5	)		(452	)		-			(738	)

Change in fair value of warrant liabilities		-			-			-			(350	)		-			(350	)

Net loss		(315	)		(19	)		(5	)		(801	)		-			(1,140	)

Total assets-March 31, 2019		11,587			242			3,391			16,695			(16,840	)		15,075
Total assets-December 31, 2018		12,756			207			3,396			17,155			(16,546	)		16,989

(

)

Including approximately

US$101,000

share-based compensation expenses.

Three Months Ended

March 31, 2018 (

Unaudited)

	Internet Ad. and data service		TV Ad.	Blockchain technology	Corporate		Inter- segment and reconciling item		Total
	US$ (‘000)		US$ (‘000)	US$ (‘000)	US$ (‘000)		US$ (‘000)		US$ (‘000)

Revenues	8,169		91	-	371		(371	)	8,260
Cost of revenues	7,621		38	-	-		-		7,659
Total operating expenses	1,622		22	-	873	(1)	(371	)	2,146
Depreciation and amortization expense included in total operating expenses	197		-	-	19		-		216
Operating (loss)/income	(1,074	)	31	-	(502	)	-		(1,545	)

Impairment on long-term investments	-		-	-	(471	)	-		(471	)

Change in fair value of warrant liabilities	-		-	-	1,474		-		1,474

Net (loss)/income	(1,073	)	20	-	483		-		(570	)

Expenditure for long-term assets	448		-	1,200	1		-		1,649

(

)

Including approximately

US$75,000

share-based compensation expenses.

Note 22 - Loss Per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Text Block]

22.

Loss per share

Basic and diluted loss per share for each of the periods presented are calculated as follows (All amounts, except number of shares and per share data, are presented in thousands of U.S. dollars):

	Three Months Ended March 31,
		2019			2018
		US$(’000)			US$(’000)
		(Unaudited)			(Unaudited)

Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share)	$	(1,138	)	$	(565	)

Weighted average number of common shares outstanding -Basic and diluted		16,410,543			15,484,082

Loss per share -Basic and diluted	$	(0.07	)	$	(0.04	)

For the

three

months ended

March 31, 2019,

the diluted loss per share calculation did

not

include warrants and options to purchase up to

774,000

and

835,216

shares of the Company’s common stock, respectively, because their effect was anti-dilutive, as the Company incurred a loss for the period.

For the

three

months ended

March 31, 2018,

the diluted loss per share calculation did

not

include warrants and options to purchase up to

774,000

and

835,216

shares of the Company’s common stock, respectively, and

266,238

shares of unvested restricted common stock before they were vested during the

third

quarter of

2018,

because their effect was anti-dilutive, as the Company incurred a loss for the period.

Note 23 - Share-based Compensation Expenses

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Text Block]

23.	Share-based compensation expenses

January 2019,

the Company granted and issued

30,000

shares of the Company’s restricted common stock to

one

of its independent directors, in exchange for his services to the Company for the year ending

December 31, 2019.

These shares were valued at

US$1.77

per share, the closing bid price of the Company’s common stock on the date of grant. Total compensation expense is amortized over the requisite service period. For the

three

months ended

March 31, 2019,

compensation expense recognized was approximately

US$13,000.

December 2018,

the Company granted and issued

250,000

shares of the Company restricted common stock to a management consulting and advisory service provider in exchange for its service for a

one

-year period. These shares were valued at

US$1.43

per share, the closing bid price of the Company’s common stock on the date of grant. The Company recorded the related cost of approximately

US$358,000

as a prepayment asset in prepayment and deposit to suppliers upon grant and issuance of these fully-vested and nonforfeitable shares. Total compensation expenses amortized for the

three

months ended

March 31, 2019

was approximately

US$88,000.

Options issued and outstanding as of

March 31, 2019

and their movements during the

three

months then ended are as follows:

	Option Outstanding					Option Exercisable
		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2019		835,216	2.04	$	2.49		835,216	2.04	$	2.49
Granted/Vested		-					-
Forfeited		-					-
Exercised		-					-
Balance, March 31, 2019 (Unaudited)		835,216	1.79	$	2.49		835,216	1.79	$	2.49

The table below summarized share-based compensation expenses recorded for the

three

months ended

March 31, 2019

and

2018,

respectively:

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)

Sales and marketing expenses		-	13
General and administrative expenses		101	51
Research and development expenses		-	11
Total		101	75

The aggregate unrecognized share-based compensation expenses as of

March 31, 2019

and

December 31, 2018

was approximately

US$0.29

million and

US$0.34

million, respectively. All unrecognized share-based compensation expenses as of

March 31, 2019

will be recognized for the year ending

December 31, 2019.

Note 24 - Subsequent Event

3 Months Ended

Mar. 31, 2019

Subsequent Events [Text Block]

24.

Subsequent event

The Company has performed an evaluation of subsequent events through the date the financial statements were issued and has determined that there are

events that are material to the financial statements.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of presentation

The unaudited condensed consolidated interim financial information as of

March 31, 2019

and for the

three

months ended

March 31, 2019

and

2018

-K for the fiscal year ended

December 31, 2018,

previously filed with the SEC (the

“2018

Form

-K”) on

April 15, 2019.

In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present a fair statement of the Company’s condensed consolidated financial position as of

March 31, 2019,

its condensed consolidated results of operations for the

three

months ended

March 31, 2019

and

2018,

and its condensed consolidated cash flows for the

three

months ended

March 31, 2019

and

2018,

as applicable, have been made. The interim results of operations are

not

necessarily indicative of the operating results for the full fiscal year or any future periods.

Going Concern [Policy Text Block]

b)	Going concern

The Company incurred operating losses and had negative operating cash flows and

may

continue to incur operating losses and generate negative cash flows as the Company implements its future business plan. The Company’s net loss attributable to stockholders for the

three

months ended

March 31, 2019

was approximately

US$1.14

million, compared with approximately

US$0.57

million for the

three

months ended

March 31, 2018.

As of

March 31, 2019,

the Company had cash and cash equivalents of approximately

US$1.48

million and net cash used in operating activities during the

three

months ended

March 31, 2019

was approximately

US$2.27

million.

The Company does

not

currently have sufficient cash or commitments for financing to sustain its operation for the

twelve

may

not

be able to obtain the necessary additional capital on a timely basis, on acceptable terms, or at all. In the event that financing sources are

not

available, or that the Company is unsuccessful in increasing its gross profit margin and reducing operating losses, the Company

may

one

year after the date that the financial statements are issued.

The unaudited condensed consolidated financial statements as of

March 31, 2019

not

include any adjustments that might result from the outcome of these uncertainties. If the Company is unable to continue as a going concern, it

may

have to liquidate its assets and

may

receive less than the value at which those assets are carried on the financial statements.

Consolidation, Policy [Policy Text Block]

Principles of consolidation

Use of Estimates, Policy [Policy Text Block]

Use of estimates

Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign currency translation

The exchange rates used to translate amounts in RMB into US$ for the purposes of preparing the condensed consolidated financial statements are as follows:

			March 31, 2019				December 31, 2018
Balance sheet items, except for equity accounts			6.7335				6.8632

	Three Months Ended March 31,
		2019	2018
Items in the statements of operations and comprehensive loss, and statements of cash flows		6.7468	6.3632

representation is made that the RMB amounts could have been, or could be converted into US$ at the above rates.

Fair Value Measurement, Policy [Policy Text Block]

f)	Fair value measurement

Liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of

March 31, 2019

and

December 31, 2018

are as follows:

Fair value measurement at reporting date using

As of

March 31, 2019

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

(Unaudited)

Warrant liabilities (Note 16)

956

Fair value measurement at reporting date using

As of

December 31, 2018

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities (Note 16)

606

Revenue from Contract with Customer [Policy Text Block]

Revenue recognition

All of the Company’s revenues are generated from the PRC. The following tables present the Company’s revenues disaggregated by products and services and timing of revenue recognition:

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)
Internet advertising and data service
--distribution of the right to use search engine marketing service		6,725	6,443
--online advertising placements		1,831	1,597
--sales of effective sales lead information		6	122
TV advertising service		-	91
Others		5	7
Total revenues		8,567	8,260

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)

Revenue recognized over time		8,561	8,138
Revenue recognized at a point in time		6	122
Total revenues		8,567	8,260

Contract costs

For the

three

months ended

March 31, 2019

and

2018,

the Company did

not

have any significant incremental costs of obtaining contracts with customers incurred and/or costs incurred in fulfilling contracts with customers within the scope of ASC Topic

606,

that shall be recognized as an asset and amortized to expenses in a pattern that matches the timing of the revenue recognition of the related contract.

Contract balances

The table below summarized the movement of the Company’s contract liabilities for the

three

months ended

March 31, 2019:

	Advance from customers
	US$(’000)

Balance as of January 1, 2019	1,061
Exchange translation adjustment	20
Revenue recognized from beginning contract liability balance	(548	)
Advances received from customers related to unsatisfied performance obligations	1,111
Balance as of March 31, 2019 (Unaudited)	1,644

Advance from customers related to unsatisfied performance obligations are generally refundable. Refund of advance from cu

stomers were insignifi

cant for both the

three

months ended

March 31, 2019

and

2018.

For the

three

months ended

March 31, 2019

and

2018,

there is

revenue recognized from performance obligations that were satisfied in prior periods.

Transaction price allocated to remaining performance obligation

The Company has elected to apply the practical expedient in paragraph ASC Topic

606

and did

not

disclose the information related to transaction price allocated to the performance obligations that are unsatisfied or partially unsatisfied as of

March 31, 2019,

because all performance obligations of the Company’s contracts with customers have an original expected duration of

one

year or less.

Advertising Cost [Policy Text Block]

h)	Advertising expenses

three

months ended

March 31, 2019

and

2018,

advertising expenses for the Company’s own brand building were approximately US$nil and

US$389,000,

respectively.

Research and Development Expense, Policy [Policy Text Block]

Research and development expenses

three

months ended

March 31, 2019

and

2018

were approximately

US$201,000

and

US$218,000,

respectively.

Lessee, Leases [Policy Text Block]

Lease

January 1, 2019,

the Company adopted ASC Topic

842,

“Lease”, applying the optional transition method in accordance with ASU

No.

2018

11,

which permitted the Company to change its date of initial application to the beginning of the period of adoption of ASC Topic

842

(i.e.

January 1, 2019)

and recognize the effects of applying ASC Topic

842

as a cumulative-effect adjustment to retained earnings as of

January 1, 2019,

and remain applying ASC Topic

840

in the comparative periods. The adoption of ASC Topic

842

didn’t result in a material adjustment to the Company’s accumulated deficit as of

January 1, 2019.

The Company leases

two

offices in the PRC from unrelated

third

parties during its normal course of business, of which

one

office is used as the Company’s principle executive office in Beijing, the other is used as the Company’s office in Hubei. Other than these, the Company does

not

have any other contract that is or contains a lease under ASC Topic

842.

The Company’s lease contracts do

not

contain any option for the Company to extend or terminate the lease, and do

not

years.

The Company’s lease contracts only contain fixed lease payments and do

not

The Company’s office lease contracts do

not

contain any nonlease component and are classified as operating leases in accordance with ASC Topic

842

As the implicit rates of the Company leases cannot be readily determined, in accordance with ASC Topic

842

the Company uses its incremental borrowing rate as the discount rate to determine the present value of the lease payments for each lease contract. The discount rate used by the Company is

6%,

which is determined based on the interest rate commonly used by the commercial banks in the PRC for the

years long-term loan lent to business entities on a collateralized basis.

As of

March 31, 2019,

operating lease right-of-use assets recognized by the Company was approximately

US$20,000,

operating lease liabilities recognized was approximately

US$10,000,

which was included in the Company’s other current liabilities.

For the

three

months ended

March 31, 2019,

total operating lease cost recognized under ASC Topic

842

was approximately

US$0.09

million. For the

three

months ended

March 31, 2018,

operating lease cost recognized under ASC Topic

840

was approximately

US$0.10

million.

Maturity of lease liabilities

	Operating leases
	US$(’000)
	(Unaudited)
Nine months ending December 31,
-2019	-
Year ending December 31,
-2020	11
Total undiscounted lease payments	11
Less: imputed interest	(1	)
Operating lease liabilities as of March 31, 2019	10

Supplemental information related to operating leases

(All amounts are presented in thousands of U.S. dollars):

Operating cash flows used for operating leases	93
Right-of-use assets obtained in exchange for new lease liabilities	10
Weighted-average remaining lease term (years)	1.96
Weighted-average discount rate	6	%

New Accounting Pronouncements, Policy [Policy Text Block]

Impact of recently issued accounting pronouncements

June 2016,

the FASB issued ASU

No.

2016

13,

“Financial Instruments-Credit Losses (Topic

326

November 2018,

the FASB issued ASU

No.

2018

19,

“Codification Improvements to Topic

326,

Financial Instruments-Credit Losses”, which among other things, clarifies that receivables arising from operating leases are

not

within the scope of Subtopic

326

20.

Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic

842,

Leases. For public entities, the amendments in these ASU are effective for fiscal years beginning after

December 15, 2019,

including interim periods within those fiscal years. The Company is currently evaluating the impact on its consolidated financial position and results of operations upon adopting these amendments.

August

2018,

the FASB issued ASU

No.

2018

13,

“Fair Value Measurement (Topic

820

fair value measurements. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after

December 15, 2019,

and entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The Company does

not

expect the adoption of these amendments to have a material impact on its consolidated financial position and results of operations.

Note 2 - Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Variable Interest Entities [Table Text Block]

		March 31, 2019		December 31, 2018
		US$(’000)		US$(’000)
		(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	673	$	2,328
Accounts receivable, net		6,830		6,359
Prepayment and deposit to suppliers		1,716		1,724
Due from related parties, net		7		26
Other current assets, net		4		11
Total current assets		9,230		10,448

Long-term investments		36		-
Property and equipment, net		68		84
Intangible assets, net		38		42
Operating lease right-of-use assets		20		-
Deferred tax assets, net		527		556
Total Assets	$	9,919	$	11,130

Liabilities
Current liabilities:
Short-term bank loan	$	891	$	874
Accounts payable		1,164		2,868
Advances from customers		1,642		1,059
Accrued payroll and other accruals		179		155
Taxes payable		2,677		2,562
Other current liabilities		65		55
Total current liabilities		6,618		7,573

Total Liabilities	$	6,618	$	7,573

Financial Performance of VIEs [Table Text Block]

	Three Months Ended March 31,
		2019			2018
		US$(’000)			US$(’000)
		(Unaudited)			(Unaudited)

Revenues	$	8,567		$	8,253
Cost of revenues		(8,125	)		(7,659	)
Total operating expenses		(711	)		(1,262	)
Net loss before allocation to noncontrolling interests		(322	)		(678	)

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Note 3 - Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Foreign Currency Exchange Rates [Table Text Block]

			March 31, 2019				December 31, 2018
Balance sheet items, except for equity accounts			6.7335				6.8632

	Three Months Ended March 31,
		2019	2018
Items in the statements of operations and comprehensive loss, and statements of cash flows		6.7468	6.3632

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Fair value measurement at reporting date using

As of

March 31, 2019

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

(Unaudited)

Warrant liabilities (Note 16)

956

Fair value measurement at reporting date using

As of

December 31, 2018

Quoted Prices
in Active Markets
for Identical Assets/Liabilities
(Level 1)

Significant
Other
Observable Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

US$(’000)

Warrant liabilities (Note 16)

606

Disaggregation of Revenue [Table Text Block]

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)
Internet advertising and data service
--distribution of the right to use search engine marketing service		6,725	6,443
--online advertising placements		1,831	1,597
--sales of effective sales lead information		6	122
TV advertising service		-	91
Others		5	7
Total revenues		8,567	8,260

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)

Revenue recognized over time		8,561	8,138
Revenue recognized at a point in time		6	122
Total revenues		8,567	8,260

Contract with Customer, Asset and Liability [Table Text Block]

	Advance from customers
	US$(’000)

Balance as of January 1, 2019	1,061
Exchange translation adjustment	20
Revenue recognized from beginning contract liability balance	(548	)
Advances received from customers related to unsatisfied performance obligations	1,111
Balance as of March 31, 2019 (Unaudited)	1,644

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Operating leases
	US$(’000)
	(Unaudited)
Nine months ending December 31,
-2019	-
Year ending December 31,
-2020	11
Total undiscounted lease payments	11
Less: imputed interest	(1	)
Operating lease liabilities as of March 31, 2019	10

Lease, Cost [Table Text Block]

Operating cash flows used for operating leases	93
Right-of-use assets obtained in exchange for new lease liabilities	10
Weighted-average remaining lease term (years)	1.96
Weighted-average discount rate	6	%

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Note 4 - Accounts Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Accounts Receivable [Table Text Block]

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

Accounts receivable	10,481		9,752
Allowance for doubtful accounts	(3,651	)	(3,393	)
Accounts receivable, net	6,830		6,359

Note 5 - Prepayments and Deposit to Suppliers (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Prepayments and Deposit to Suppliers [Table Text Block]

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

Deposits to internet resources providers	743	963
Prepayments to internet resources providers	936	727
Other deposits and prepayments	400	464
	2,079	2,154

Note 6 - Due From Related Parties, Net (Tables)

3 Months Ended

Mar. 31, 2019

Due From Related Parties [Member]

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

An officer of the Company	200		200
Guohua Shiji (Beijing) Communication Co., Ltd.	178		201
Zhong Wang Xi Yue Technology (Beijing) Co., Ltd.	7		-
	385		401
Allowance for doubtful accounts	(178	)	(175	)
Due from related parties, net	207		226

Note 7 - Other Current Assets, Net (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Other Current Assets [Table Text Block]

	March 31, 2019					December 31,2018
		Gross	Allowance for doubtful accounts		Net		Gross	Allowance for doubtful accounts		Net
		US$(’000)	US$(’000)		US$(’000)		US$(’000)	US$(’000)		US$(’000)
		(Unaudited)	(Unaudited)		(Unaudited)

Loan to an unrelated party		149	(149	)	-		146	(146	)	-
Staff advances for business operations		9	-		9		19	-		19
Overdue deposits		1,650	(1,650	)	-		1,619	(1,619	)	-
Total		1,808	(1,799	)	9		1,784	(1,765	)	19

Note 9 - Property and Equipment, Net (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Property and Equipment [Table Text Block]

	March 31, 2019			December 31, 2018
	US$(’000)			US$(’000)
	(Unaudited)

Leasehold improvement		327			321
Vehicles		785			771
Office equipment		1,379			1,353
Electronic devices		971			952
Property and equipment, cost		3,462			3,397
Less: accumulated depreciation		(3,350	)		(3,255	)
Property and equipment, net		112			142

Note 10 - Intangible Assets, Net (Tables)	3 Months Ended
Note 10 - Intangible Assets, Net (Tables)	Mar. 31, 2019
Notes Tables
Schedule of Finite and Indefinite-Lived Intangible Assets [Table Text Block]	<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of March 31, 2019 (Unaudited)</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,435</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,435</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,979</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,979</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,089</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(592</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(497</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Software technologies</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(304</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Cloud compute software technology</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,378</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(917</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Intelligent marketing data service platform</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,795</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,942</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,853</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 20pt; text-indent: -10pt">Internet safety, information exchange security and data encryption software</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,931</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(435</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,496</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Cloud video management system</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,411</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(350</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,061</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other computer software</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">116</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(113</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 1.6pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,438</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,632</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,765</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="15" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of December 31, 2018</td> </tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Items</td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Gross</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Accumulated</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Amortization</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> <td style="font-weight: bold; padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Impairment</td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"> </div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Net</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Carrying</div></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;">Value</div></div></td> <td style="border-bottom: Black 1pt solid; text-align: center"><div style=" font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><div style="display: inline; font-weight: bold;"> </div></div></td> </tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$(’000)</div></td> <td style="font-weight: bold; text-align: center"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets not subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 44%; text-align: justify; padding-left: 10pt">Domain name</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,408</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,408</div></td> <td style="width: 1%; text-align: left">)</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 11%; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Intangible assets subject to amortization:</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Customer relationship</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,941</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,941</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Non-compete agreements</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(580</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(488</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Software technologies</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">299</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(299</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 10pt">Cloud compute software technology</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,353</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(896</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(415</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Intelligent marketing data service platform</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,705</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,906</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,799</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-left: 20pt; text-indent: -10pt">Internet safety, information exchange security and data encryption software</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,894</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(426</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,468</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-left: 10pt">Cloud video management system</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,383</div></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(343</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,040</div></td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt; padding-left: 10pt">Other computer software</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">114</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(111</div></td> <td style="border-bottom: Black 1pt solid; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt; text-indent: 1.6pt">Total</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,165</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,502</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,618</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">)</td> <td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45</div></td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td> </tr> </table></div>

Note 13 - Accrued Payroll and Other Accruals (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Accrued Liabilities [Table Text Block]

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

Accrued payroll and staff welfare	238	208
Accrued operating expenses	173	313
	411	521

Note 14 - Taxation (Tables)

3 Months Ended

Mar. 31, 2019

Schedule Of Taxes Payable [Table Text Block]

	March 31, 2019	December 31, 2018
	US$(’000)	US$(’000)
	(Unaudited)

PRC turnover tax and surcharge payable	1,304	1,215
PRC enterprise income tax payable	1,816	1,782
Total taxes payable	3,120	2,997

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Three Months Ended March 31,
		2019		2018
		US$(’000)		US$(’000)
		(Unaudited)		(Unaudited)

Current-PRC		-		-
Deferred-PRC		(39	)	4
Income tax (expense)/benefit		(39	)	4

Schedule Of Deferred Tax Assets [Table Text Block]

	March 31, 2019		December 31, 2018
	US$(’000)		US$(’000)
	(Unaudited)

Tax effect of net operating losses carried forward	9,466		9,243
Bad debts provision	1,240		1,188
Valuation allowance	(10,179	)	(9,875	)
Deferred tax assets, net	527		556

Note 16 - Warrant Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Warrant Liabilities [Table Text Block]

	As of March 31, 2019	As of December 31, 2018	Change in Fair Value (gain)/loss
	US$’000	US$’000	US$’000
Fair value of the Warrants:
Investor warrants	793	503	290
Placement agent warrants	163	103	60
Warrant liabilities	956	606	350

	As of March 31, 2018	As of January 17, 2018	Change in Fair Value (gain)/loss
	US$’000	US$’000	US$’000
Fair value of the Warrants:
Investor warrants	664	1,890	(1,226	)
Placement agent warrants	137	385	(248	)
Warrant liabilities	801	2,275	(1,474	)

Schedule of Warrant Activity [Table Text Block]

	Warrant Outstanding					Warrant Exercisable
		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2019		774,000	1.63	$	6.60		774,000	1.63	$	6.60
Granted/Vested		-					-
Forfeited		-					-
Exercised		-					-
Balance, March 31, 2019 (Unaudited)		774,000	1.38	$	6.60		774,000	1.38	$	6.60

Warrant [Member]

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Investors warrants						Placement agent warrants
		As of December 31, 2018			As of March 31, 2019			As of December 31, 2018			As of March 31, 2019

Stock price	$	1.34		$	1.95		$	1.34		$	1.95
Years to maturity		1.55			1.30			2.05			1.80
Risk-free interest rate		2.50	%		2.27	%		2.50	%		2.27	%
Dividend yield		-			-			-			-
Expected volatility		199	%		216	%		176	%		187	%
Exercise Price	$	6.60		$	6.60		$	6.60		$	6.60

Fair value of the warrant	$	0.78		$	1.23		$	0.80		$	1.26

	Investors warrants						Placement agent warrants
		As of January 17, 2018			As of March 31, 2018			As of January 17, 2018			As of March 31, 2018

Stock price	$	3.98		$	1.67		$	3.98		$	1.67
Years to maturity		2.5			2.3			3.0			2.8
Risk-free interest rate		2.22	%		2.35	%		2.39	%		2.50	%
Dividend yield		-			-			-			-
Expected volatility		158	%		164	%		147	%		152	%
Exercise Price	$	6.60		$	6.60		$	6.60		$	6.60

Fair value of the warrant	$	2.93		$	1.03		$	2.99		$	1.06

Note 19 - Concentration of Risk (Tables)

3 Months Ended

Mar. 31, 2019

Schedules of Concentration of Risk, by Risk Factor [Table Text Block]

	Customer A	Customer B	Customer C
Three Months Ended March 31, 2019
Revenues, customer concentration risk	17%	-	*

Three Months Ended March 31, 2018
Revenues, customer concentration risk	-	36%	*

As of March 31, 2019
Accounts receivable, customer concentration risk	72%	-	11%

As of December 31, 2018
Accounts receivable, customer concentration risk	74%	-	12%

	Supplier A	Supplier B
Three Months Ended March 31, 2019
Cost of revenues, supplier concentration risk	89%	*

Three Months Ended March 31, 2018
Cost of revenues, supplier concentration risk	73%	21%

Note 21 - Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		Internet Ad. and data service			TV Ad.			Blockchain technology			Corporate			Inter- segment and reconciling item			Total
	US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)			US$ (‘000)

Revenues		8,567			-			-			-			-			8,567
Cost of revenues		8,125			-			-			-			-			8,125
Total operating expenses		705			18			5			452	(1)		-			1,180
Depreciation and amortization expense included in total operating expenses		23			-			-			15			-			38
Operating loss		(263	)		(18	)		(5	)		(452	)		-			(738	)

Change in fair value of warrant liabilities		-			-			-			(350	)		-			(350	)

Net loss		(315	)		(19	)		(5	)		(801	)		-			(1,140	)

Total assets-March 31, 2019		11,587			242			3,391			16,695			(16,840	)		15,075
Total assets-December 31, 2018		12,756			207			3,396			17,155			(16,546	)		16,989

	Internet Ad. and data service		TV Ad.	Blockchain technology	Corporate		Inter- segment and reconciling item		Total
	US$ (‘000)		US$ (‘000)	US$ (‘000)	US$ (‘000)		US$ (‘000)		US$ (‘000)

Revenues	8,169		91	-	371		(371	)	8,260
Cost of revenues	7,621		38	-	-		-		7,659
Total operating expenses	1,622		22	-	873	(1)	(371	)	2,146
Depreciation and amortization expense included in total operating expenses	197		-	-	19		-		216
Operating (loss)/income	(1,074	)	31	-	(502	)	-		(1,545	)

Impairment on long-term investments	-		-	-	(471	)	-		(471	)

Change in fair value of warrant liabilities	-		-	-	1,474		-		1,474

Net (loss)/income	(1,073	)	20	-	483		-		(570	)

Expenditure for long-term assets	448		-	1,200	1		-		1,649

Note 22 - Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended March 31,
		2019			2018
		US$(’000)			US$(’000)
		(Unaudited)			(Unaudited)

Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share)	$	(1,138	)	$	(565	)

Weighted average number of common shares outstanding -Basic and diluted		16,410,543			15,484,082

Loss per share -Basic and diluted	$	(0.07	)	$	(0.04	)

Note 23 - Share-based Compensation Expenses (Tables)

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement, Option, Activity [Table Text Block]

	Option Outstanding					Option Exercisable
		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of underlying shares	Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

Balance, January 1, 2019		835,216	2.04	$	2.49		835,216	2.04	$	2.49
Granted/Vested		-					-
Forfeited		-					-
Exercised		-					-
Balance, March 31, 2019 (Unaudited)		835,216	1.79	$	2.49		835,216	1.79	$	2.49

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Three Months Ended March 31,
		2019	2018
		US$(’000)	US$(’000)
		(Unaudited)	(Unaudited)

Sales and marketing expenses		-	13
General and administrative expenses		101	51
Research and development expenses		-	11
Total		101	75

Note 2 - Variable Interest Entities - Consolidated VIEs' Assets and Liabilities (Details) - USD ($)
$ in Thousands

Mar. 31, 2019

Dec. 31, 2018

Mar. 31, 2018

Dec. 31, 2017

Current assets:

Cash and cash equivalents

$ 1,483

$ 3,742

$ 7,503

$ 2,952

Accounts receivable, net

6,830

6,359

Prepayment and deposit to suppliers

2,079

2,154

Due from related parties, net

207

226

Other current assets, net

Total current assets

10,608

12,500

Long-term investments

Property and equipment, net

112

142

Intangible assets, net

Operating lease right-of-use assets

Deferred tax assets, net

527

556

Total Assets

15,075

16,989

Current liabilities:

Accrued payroll and other accruals

^[1]

891

874

Accounts payable

^[1]

1,165

2,869

Advances from customers

^[1]

1,644

1,061

^[1]

411

521

Taxes payable

^[1]

3,120

2,997

Other current liabilities

127

118

Total current liabilities

7,358

8,440

Total Liabilities

8,444

9,174

VIEs [Member]

Current assets:

Cash and cash equivalents

673

2,328

Accounts receivable, net

6,830

6,359

Prepayment and deposit to suppliers

1,716

1,724

Due from related parties, net

Other current assets, net

Total current assets

9,230

10,448

Long-term investments

Property and equipment, net

Intangible assets, net

Operating lease right-of-use assets

Deferred tax assets, net

527

556

Total Assets

9,919

11,130

Current liabilities:

Accrued payroll and other accruals

891

874

Accounts payable

1,164

2,868

Advances from customers

1,642

1,059

179

155

Taxes payable

2,677

2,562

Other current liabilities

Total current liabilities

6,618

7,573

Total Liabilities

$ 6,618

$ 7,573

[1]	All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).

Note 2 - Variable Interest Entities - Consolidated VIEs' Financial Performance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 8,567	$ 8,260
Cost of revenues	(8,125)	(7,659)
Total operating expenses	1,180	2,146
Net loss before allocation to noncontrolling interests	(1,140)	(570)
VIEs [Member]
Revenues	8,567	8,253
Cost of revenues	(8,125)	(7,659)
Total operating expenses	(711)	(1,262)
Net loss before allocation to noncontrolling interests	$ (322)	$ (678)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Note 3 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Net Income (Loss) Attributable to Parent, Total	$ (1,138,000)	$ (565,000)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	1,483,000	7,503,000	$ 3,742,000	$ 2,952,000
Net Cash Provided by (Used in) Operating Activities, Total	(2,270,000)	(3,179,000)
Contract with Customer, Performance Obligation Satisfied in Previous Period	0	0
Advertising Expense		389,000
Research and Development Expense, Total	$ 201,000	218,000
Lessee, Operating Lease, Discount Rate	6.00%
Operating Lease, Right-of-Use Asset	$ 20,000
Operating Lease, Liability, Total	10,000
Operating Lease, Cost	90,000	$ 100,000
Other Current Assets [Member]
Operating Lease, Right-of-Use Asset	20,000
Other Current Liabilities [Member]
Operating Lease, Liability, Total	$ 10,000
Minimum [Member]
Lessee, Operating Lease, Term of Contract	2 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract	3 years
CHINA
Number of Lease Offices	2
Beijing [Member]
Number of Lease Offices	1
Hubei [Member]
Number of Lease Offices	1

Note 3 - Summary of Significant Accounting Policies - Exchange Rates Used to Translate Amounts In RMB Into US$ (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Items in the statements of operations and comprehensive loss, and statements of cash flows	6.7468	6.3632
Balance Sheet Items, Except Equity Accounts [Member]
Balance sheet items, except for equity accounts	6.7335		6.8632

Note 3 - Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Warrant liabilities (Note 16)	$ 956	$ 606
Fair Value, Inputs, Level 1 [Member]
Warrant liabilities (Note 16)
Fair Value, Inputs, Level 2 [Member]
Warrant liabilities (Note 16)
Fair Value, Inputs, Level 3 [Member]
Warrant liabilities (Note 16)	$ 956	$ 606

Note 3 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 8,567	$ 8,260
Search Engine Marketing and Data Service [Member]
Revenues	6,725	6,443
Online Advertising Placement [Member]
Revenues	1,831	1,597
Sales of Effective Sales Lead Information [Member]
Revenues	6	122
TV Advertising Service [Member]
Revenues		91
Product and Service, Other [Member]
Revenues	5	7
Transferred over Time [Member]
Revenues	8,561	8,138
Transferred at Point in Time [Member]
Revenues	$ 6	$ 122

Note 3 - Summary of Significant Accounting Policies - Contract liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Balance as of January 1, 2019	$ 1,061
Exchange translation adjustment	20
Revenue recognized from beginning contract liability balance	(548)
Advances received from customers related to unsatisfied performance obligations	1,111
Balance as of March 31, 2019 (Unaudited)	$ 1,644

Note 3 - Summary of Significant Accounting Policies - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019 USD ($)
-2019
-2020	11
Total undiscounted lease payments	11
Less: imputed interest	(1)
Operating lease liabilities as of March 31, 2019	$ 10

Note 3 - Summary of Significant Accounting Policies - Supplement Information Related to Operating Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating cash flows used for operating leases	$ 93
Right-of-use assets obtained in exchange for new lease liabilities	$ 10
Weighted-average remaining lease term (years) (Year)	1 year 350 days
Weighted-average discount rate	6.00%

Note 4 - Accounts Receivable, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accounts Receivable, Credit Loss Expense (Reversal)	$ 192	$ 481
Internet Advertising and TV Advertising [Member]
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ 3,700	3,400
Number of Months Past Due	180 days
Accounts Receivable, Credit Loss Expense (Reversal)	$ 190	$ 470

Note 4 - Accounts Receivable, Net - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounts receivable	$ 10,481	$ 9,752
Allowance for doubtful accounts	(3,651)	(3,393)
Accounts receivable, net	$ 6,830	$ 6,359

Note 5 - Prepayments and Deposit to Suppliers - Prepayments and Deposit to Suppliers (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Prepayment and deposit to suppliers	$ 2,079	$ 2,154
Deposits to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	743	963
Prepayment to TV Ad and Internet Ad Resources Providers [Member]
Prepayment and deposit to suppliers	936	727
Other Deposits and Prepayments [Member]
Prepayment and deposit to suppliers	$ 400	$ 464

Note 6 - Due From Related Parties, Net (Details Textual) ¥ in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CNY (¥)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Mar. 31, 2018 USD ($)
Due from Related Parties, Current, Total		$ 226		$ 207
Fund Advanced to Company Management [Member] \| Officer [Member]
Due from Related Parties, Total		200		$ 200
Related Party Transaction, Amounts of Transaction	$ 200
Related-party Working Capital Loans [Member] \| Chuangshi Meiwei and Guoshua Shiji [Member]
Due from Related Parties, Current, Total		200			¥ 1,380
Proceeds from Collection of Short-term Loans to Related Parties		$ 30	¥ 180
Accounts Receivable, Allowance for Credit Loss, Ending Balance						$ 10

Note 6 - Due From Related Parties, Net - Due From Related Parties (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Due from related parties, gross	$ 385	$ 401
Allowance for doubtful accounts	(178)	(175)
Due from Related Parties, Current, Total	207	226
Officer [Member]
Due from related parties, gross	200	200
Guohua Shiji [Member]
Due from related parties, gross	178	201
Zhong Wang Xi Yue Technology (Beijing) Co. Ltd [Member]
Due from related parties, gross	$ 7

Note 7 - Other Current Assets, Net (Details Textual) $ in Thousands, ¥ in Millions	Mar. 31, 2019 USD ($)	Mar. 31, 2019 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CNY (¥)
Internet Advertising And TV Advertising Contractual Deposit [Member]
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 1,600	¥ 11	$ 1,600	¥ 11
Short-term Working Capital Loan to an Unrelated Third Party [Member]
Financing Receivable, after Allowance for Credit Loss, Total	$ 150	¥ 1	$ 150	¥ 1

Note 7 - Other Current Assets, Net - Summary of Other Current Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Total, gross	$ 1,808	$ 1,784
Total allowance for doubtful accounts	(1,799)	(1,765)
Other current assets, net	9	19
Short-term Working Capital Loan to an Unrelated Third Party [Member]
Other receivables, gross	149	146
Allowance for doubtful accounts receivable	(149)	(146)
Other receivables, net
TV Advertisement Deposit and Prepayment [Member]
Other receivables, gross	9	19
Allowance for doubtful accounts receivable
Other receivables, net	9	19
Overdue Deposits [Member]
Other receivables, gross	1,650	1,619
Allowance for doubtful accounts receivable	(1,650)	(1,619)
Other receivables, net

Note 8 - Long-term Investments (Details Textual) - Local Chain Xi’an [Member] ¥ in Thousands, $ in Thousands	Mar. 31, 2019 USD ($)	Mar. 31, 2019 CNY (¥)
Equity Securities without Readily Determinable Fair Value, Amount	$ 40	¥ 250
Equity Securities without Readily Determinable Fair Value, Percent	4.90%	4.90%

Note 9 - Property and Equipment, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Depreciation, Total	$ 33,000	$ 48,000

Note 9 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property and equipment, gross	$ 3,462	$ 3,397
Less: accumulated depreciation	(3,350)	(3,255)
Property and equipment, net	112	142
Leaseholds and Leasehold Improvements [Member]
Property and equipment, gross	327	321
Vehicles [Member]
Property and equipment, gross	785	771
Office Equipment [Member]
Property and equipment, gross	1,379	1,353
Electronic Devices [Member]
Property and equipment, gross	$ 971	$ 952

Note 10 - Intangible Assets, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Amortization of Intangible Assets, Total	$ 5,000	$ 168,000
Finite-Lived Intangible Asset, Useful Life	2 years 83 days
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 14,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	19,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	$ 9,000

Note 10 - Intangible Assets, Net - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite-lived intangible assets, Impairment	$ (7,765)	$ (7,618)
Finite-lived intangible assets	14,438	14,165
Finite-lived intangible assets, Accumulated amortization	(6,632)	(6,502)
Intangible assets, net	41	45
Customer Relationships [Member]
Finite-lived intangible assets, Impairment
Finite-lived intangible assets	1,979	1,941
Finite-lived intangible assets, Accumulated amortization	(1,979)	(1,941)
Intangible assets, net
Noncompete Agreements [Member]
Finite-lived intangible assets, Impairment	(497)	(488)
Finite-lived intangible assets	1,089	1,068
Finite-lived intangible assets, Accumulated amortization	(592)	(580)
Intangible assets, net
Software Technologies [Member]
Finite-lived intangible assets, Impairment
Finite-lived intangible assets	304	299
Finite-lived intangible assets, Accumulated amortization	(304)	(299)
Intangible assets, net
Cloud-Computing Based Software Platforms [Member]
Finite-lived intangible assets, Impairment	(423)	(415)
Finite-lived intangible assets	1,378	1,353
Finite-lived intangible assets, Accumulated amortization	(917)	(896)
Intangible assets, net	38	42
Intelligent Marketing Data Service Platform [Member]
Finite-lived intangible assets, Impairment	(2,853)	(2,799)
Finite-lived intangible assets	4,795	4,705
Finite-lived intangible assets, Accumulated amortization	(1,942)	(1,906)
Intangible assets, net
Internet Safety, Information Exchange Security and Data Encryption Software [Member]
Finite-lived intangible assets, Impairment	(1,496)	(1,468)
Finite-lived intangible assets	1,931	1,894
Finite-lived intangible assets, Accumulated amortization	(435)	(426)
Intangible assets, net
Computer Software, Cloud Video Management System [Member]
Finite-lived intangible assets, Impairment	(1,061)	(1,040)
Finite-lived intangible assets	1,411	1,383
Finite-lived intangible assets, Accumulated amortization	(350)	(343)
Intangible assets, net
Other Computer Software [Member]
Finite-lived intangible assets, Impairment
Finite-lived intangible assets	116	114
Finite-lived intangible assets, Accumulated amortization	(113)	(111)
Intangible assets, net	3	3
Domain Name [Member]
Domain name	1,435	1,408
Finite-lived intangible assets, Impairment	$ (1,435)	$ (1,408)

Note 11 - Blockchain Software Application Platform Development Costs (Details Textual) $ in Thousands, ¥ in Millions	3 Months Ended		14 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 31, 2018 CNY (¥)	Feb. 28, 2018 USD ($)
Payment for Blockchain Technology Based Applications Development Costs		$ 1,200	$ 3,730
Contract to Develop Blockchain Technology Based Applications [Member]
Application Development Contracts, Contract Amount				$ 4,940		$ 4,500
Contract to Develop Social Network Based Applications [Member]
Application Development Contracts, Contract Amount		$ 440			¥ 3

Note 12 - Short-term Bank Loan and Credit Facility (Details Textual)
$ in Thousands, ¥ in Millions

3 Months Ended

Sep. 29, 2019

USD ($)

Sep. 29, 2019

CNY (¥)

Jul. 29, 2019

USD ($)

Jul. 29, 2019

CNY (¥)

Mar. 31, 2019

USD ($)

Mar. 31, 2019

CNY (¥)

Dec. 31, 2018

USD ($)

Restricted Cash and Cash Equivalents, Total

^[1]

$ 891

$ 874

$ 30

Maximum [Member]

Short-term Debt, Weighted Average Interest Rate, at Point in Time

5.655%

Debt Instrument, Basis Spread on Variable Rate

30.00%

VIEs [Member]

VIEs [Member] | Loans Payable [Member]

$ 891

$ 874

VIEs [Member] | Loan Payable Borrowed on August 16, 2017 [Member]

700

¥ 5.0

VIEs [Member] | Loan Payable Borrowed on September 30, 2018 [Member]

450

3.0

VIEs [Member] | Loan Payable Borrowed on September 30, 2018 [Member] | Forecast [Member]

$ 450

¥ 3.0

Repayments of Short-term Debt, Total

$ 220

¥ 1.5

$ 220

¥ 1.5

[1]	All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).

Note 13 - Accrued Payroll and Other Accruals - Accrued Payroll and Other Accruals (Details) - USD ($)
$ in Thousands

Mar. 31, 2019

Dec. 31, 2018

Accrued Payroll and Staff Welfare [Member]

^[1]

$ 411

$ 521

Accrued Operating Expenses [Member]

238

208

PRC turnover tax and surcharge payable

$ 173

$ 313

[1]	All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).

Note 14 - Taxation (Details Textual) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Dec. 31, 2018	Nov. 30, 2015
Federal Income Tax Expense (Benefit), Continuing Operations, Total	$ 0	$ 0
Income Tax Withholding Rate Pursuant to EIT Law	10.00%		10.00%
Operating Loss Carryforwards, Total	$ 19,400		$ 19,400	$ 19,200
Operating Loss Carryforwards, Taxable Income Deduction Limitations	80.00%		80.00%
Deferred Tax Assets, Valuation Allowance, Total	$ 10,179		$ 10,179	9,875
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	200	$ 400
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 60
Minimum [Member]
PRC Value Added Tax Surcharge Rate	12.00%		12.00%
Maximum [Member]
PRC Value Added Tax Surcharge Rate	14.00%		14.00%
PRC [Member]
PRC Value Added Tax Rate for Modern Service Provided	6.00%	6.00%
PRC [Member] \| Provision of Modern Services Small Scale Tax Payer [Member]
PRC Value Added Tax Rate for Modern Service Provided Small Scale Tax Payer	3.00%	3.00%
Tax Treaty Agreement [Member]
Income Tax Withholding Rate Pursuant to EIT Law	5.00%		5.00%
HONG KONG
Federal Income Tax Expense (Benefit), Continuing Operations, Total				0
Other Tax Expense (Benefit)	$ 0
Applicable Income Tax Rate for First Profit Limit			8.25%
Applicable Income Tax Rate for Subsequent Profit			16.50%
Profits Assessable	0
ChinaNet BVI [Member]
Other Tax Expense (Benefit)	$ 0
Other PRC Operating Entities [Member] \| PRC [Member]
Applicable Income Tax Rate	25.00%	25.00%
Business Opportunity Online [Member] \| PRC [Member]
Applicable Income Tax Rate	15.00%
Business Opportunity Online [Member] \| PRC [Member] \| Minimum [Member]
Enterprise Income Tax Rate In PRC					15.00%
PRC Subsidiary And VIE's [Member]
Operating Loss Carryforwards, Total	$ 25,600		$ 25,600	$ 25,200

Note 14 - Taxation - Taxes Payable (Details) - USD ($)
$ in Thousands

Mar. 31, 2019

Dec. 31, 2018

$ 1,304

$ 1,215

PRC enterprise income tax payable

1,816

1,782

Total taxes payable

^[1]

$ 3,120

$ 2,997

[1]	All of the VIEs' assets can be used to settle obligations of their primary beneficiary. Liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company's general assets (Note 2).

Note 14 - Taxation - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Current-PRC
Deferred-PRC	(39)	4
Income tax (expense)/benefit	$ (39)	$ 4

Note 14 - Taxation - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Tax effect of net operating losses carried forward	$ 9,466	$ 9,243
Bad debts provision	1,240	1,188
Valuation allowance	(10,179)	(9,875)
Deferred tax assets, net	$ 527	$ 556

Note 16 - Warrant Liabilities (Details Textual)	Jan. 17, 2018 $ / shares shares
Investor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	645,000
Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	129,000
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares	$ 6.60
Private Placement [Member]
Stock Issued During Period, Shares, New Issues	2,150,001
Shares Issued, Price Per Share \| $ / shares	$ 5.15

Note 16 - Warrant liabilities - Fair Value of Warrants (Details)	Mar. 31, 2019 yr	Dec. 31, 2018 yr	Mar. 31, 2018 yr	Jan. 17, 2018 yr
Measurement Input, Share Price [Member] \| Investor Warrants [Member]
Fair value of the warrants	1.95	1.34	1.67	3.98
Measurement Input, Share Price [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	1.95	1.34	1.67	3.98
Measurement Input, Expected Term [Member] \| Investor Warrants [Member]
Fair value of the warrants	1.3	1.55	2.3	2.5
Measurement Input, Expected Term [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	1.8	2.05	2.8	3
Measurement Input, Risk Free Interest Rate [Member] \| Investor Warrants [Member]
Fair value of the warrants	0.0227	0.025	0.0235	0.0222
Measurement Input, Risk Free Interest Rate [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	0.0227	0.025	0.025	0.0239
Measurement Input, Expected Dividend Rate [Member] \| Investor Warrants [Member]
Fair value of the warrants
Measurement Input, Expected Dividend Rate [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants
Measurement Input, Price Volatility [Member] \| Investor Warrants [Member]
Fair value of the warrants	2.16	1.99	1.64	1.58
Measurement Input, Price Volatility [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	1.87	1.76	1.52	1.47
Measurement Input, Exercise Price [Member] \| Investor Warrants [Member]
Fair value of the warrants	6.6	6.6	6.6	6.6
Measurement Input, Exercise Price [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	6.6	6.6	6.6	6.6
Measurement Input, Quoted Price [Member] \| Investor Warrants [Member]
Fair value of the warrants	1.23	0.78	1.03	2.93
Measurement Input, Quoted Price [Member] \| Placement Agent Warrants [Member]
Fair value of the warrants	1.26	0.8	1.06	2.99

Note 16 - Warrant Liabilities - Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Jan. 17, 2018
Proceeds allocated to warrant liabilities	$ 956	$ 801	$ 606	$ 2,275
Change in fair value of warrants	350	(1,474)
Investor Warrants [Member]
Proceeds allocated to warrant liabilities	793	664	503	1,890
Change in fair value of warrants	290	(1,226)
Placement Agent Warrants [Member]
Proceeds allocated to warrant liabilities	163	137	$ 103	$ 385
Change in fair value of warrants	$ 60	$ (248)

Note 16 - Warrant liabilities - Warrant Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Balance (in shares)	774,000
Weighted average remaining contractual life (Year)	1 year 138 days	1 year 229 days
Weighted average exercise price (in dollars per share)	$ 6.60
Exercisable (in shares)	774,000
Exercisable, weighted average remaining contractual life (Year)	1 year 138 days	1 year 229 days
Exercisable, weighted average exercise price (in dollars per share)	$ 6.60
Granted/Vested (in shares)
Forfeited (in shares)
Exercised (in shares)
Balance (in shares)	774,000	774,000
Weighted average exercise price (in dollars per share)	$ 6.60	$ 6.60
Exercisable (in shares)	774,000	774,000
Exercisable, weighted average exercise price (in dollars per share)	$ 6.60	$ 6.60

Note 17 - Restricted Net Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries	$ 12	$ 12
Withholding Tax Rate Pursuant To EIT Law	10.00%
Preferential Withholding Tax Rate	5.00%
WFOE [Member]
Minimum Percentage Of Annual After-tax Profit For General Reserve	10.00%
Minimum Required Reserve As Percent Of Registered Capital	50.00%
Domestic Enterprise [Member]
Minimum Percentage Of Annual After-tax Profit For General Reserve	10.00%
Minimum Required Reserve As Percent Of Registered Capital	50.00%

Note 18 - Employee Defined Contribution Plan (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Contribution Plan, Cost	$ 93,000	$ 88,000

Note 19 - Concentration of Risk (Details Textual)	Mar. 31, 2019
CHINA
Percent of Cash and Cash Equivalents Held by Major Financial Institutions	56.00%
UNITED STATES
Percent of Cash and Cash Equivalents Held by Major Financial Institutions	44.00%

Note 19 - Concentration of Risk - Company's Concentration of Customers and Suppliers (Details)

3 Months Ended

12 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Dec. 31, 2018

Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier A [Member]

Cost Of Sales Total [Member] | Supplier Concentration Risk [Member] | Supplier B [Member]

89.00%

73.00%

Customer A [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

^[1]

21.00%

Customer A [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]

17.00%

Customer C [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

72.00%

74.00%

Customer C [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member]

^[1]

Customer B [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member]

11.00%

12.00%

36.00%

[1]	Less than 10%.

Note 20 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		14 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Dec. 31, 2018	Feb. 28, 2018
Payment for Blockchain Technology Based Applications Development Costs		$ 1,200	$ 3,730
Contract to Develop Blockchain Technology Based Applications [Member]
Application Development Contracts, Contract Amount				$ 4,940	$ 4,500

Note 21 - Segment Reporting (Details Textual) - USD ($)	3 Months Ended
Note 21 - Segment Reporting (Details Textual) - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Share-based Payment Arrangement, Expense	$ 101,000	$ 75,000

Note 21 - Segment Reporting - Summary of Segment Reporting Information (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2019

Mar. 31, 2018

Dec. 31, 2018

$ 8,567

$ 8,260

8,125

7,659

Depreciation and amortization expense included in total operating expenses

1,180

2,146

216

(738)

(1,545)

(350)

1,474

(1,140)

(570)

15,075

$ 16,989

(471)

Operating Segments [Member] | Internet Ad [Member]

1,649

8,567

8,169

8,125

7,621

Depreciation and amortization expense included in total operating expenses

705

1,622

197

(263)

(1,074)

(315)

(1,073)

11,587

12,756

Operating Segments [Member] | TV Ad [Member]

448

Depreciation and amortization expense included in total operating expenses

(18)

(19)

242

207

Operating Segments [Member] | Blockchain Technology [Member]

Depreciation and amortization expense included in total operating expenses

(5)

(5)

3,391

3,396

Corporate, Non-Segment [Member]

1,200

371

Depreciation and amortization expense included in total operating expenses

452

^[1]

873

^[2]

(452)

(502)

(350)

1,474

(801)

483

16,695

17,155

(471)

Intersegment Eliminations [Member]

(371)

Depreciation and amortization expense included in total operating expenses

(371)

$ (16,840)

$ (16,546)