Summary of significant accounting policies (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Summary of significant accounting policies |
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| Schedule of consolidated entities |
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Place incorporated
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Ownership percentage
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SGOCO Group, Ltd.
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Cayman Islands
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Parent Company
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SGOCO International (HK) Limited
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Hong Kong
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100
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%
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Beijing SGOCO Image Technology Co., Ltd.
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Beijing, China
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100
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%
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Giant Financial Services Limited (“GFS”)
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Samoa
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100
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%
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Apiguru Pty Ltd. (“Apiguru”)
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Australia
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100
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%
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Giant Connection Limited
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Republic of Seychelles
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100
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%
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Giant Credit Limited (“GCL”)
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Hong Kong
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100
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%
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11 Hau Fook Street Limited
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Hong Kong
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100
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%
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Paris Sky Limited
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Marshall Islands
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100
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%
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Vision Lane Limited
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British Virgin Islands
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100
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%
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Suns Tower Limited
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(Formerly known as “First Asia Tower Limited”) (“FAT”)
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Hong Kong
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100
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%
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First Asia Finance Limited (“FAF”)
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Hong Kong
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100
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%
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| Schedule of assets with estimated useful lives |
Depreciation of plant and equipment is provided using the straight-line method for substantially all assets with estimated lives as follows:
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Leasehold land and buildings
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Leasehold land and buildings are depreciated over the shorter of the unexpired term of lease and their estimated useful lives, being no more than 50 years
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Machinery and equipment
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4-10 years
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Leasehold improvements
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5 years
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Vehicles and office equipment
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4-5 years
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| Schedule of Separately identifiable intangible assets that have determinable lives |
Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows:
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Trademarks of GFS
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10 years
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Service Contracts of GFS
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1 year
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Non-competition agreements of Apiguru
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3 years
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| Summary of changes in Warrant derivative liability |
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Carrying Value at
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December 31,
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Fair Value Measurement at
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2020
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December 31, 2020
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Level 1
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Level 2
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Level 3
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Warrant derivative liability
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$
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249
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$
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—
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$
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—
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$
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249
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| Schedule of changes in financial liabilities |
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Balance at January 1, 2016 and 2017
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$
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—
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Issuance of warrants on April 5, 2017
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530
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Change in fair value of warrant derivative liability
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150
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Balance at December 31, 2017
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680
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Change in fair value of warrant derivative liability
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(394)
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Balance at December 31, 2018
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286
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Change in fair value of warrant derivative liability
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(33)
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Balance at December 31, 2019
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253
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Change in fair value of warrant derivative liability
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(4)
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Balance at December 31, 2020
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249
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| Schedule of fair value of the outstanding warrants was calculated using the Monte-Carlo simulation Model |
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Warrants
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December 31, 2020
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December 31, 2019
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December 31, 2018
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December 31, 2017
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April 5, 2017
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Market price per share (USD/share)
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1.45
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$
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0.95
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$
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0.85
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$
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1.06
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$
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2.75
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Exercise price (USD/share)
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1.00
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1.00
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1.00
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1.00
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2.75
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Risk free rate
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0.07
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%
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1.59
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%
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2.53
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%
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2.00
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%
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1.83
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%
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Dividend yield
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—
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%
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—
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%
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—
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%
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—
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%
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—
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%
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Expected term/Contractual life (years)
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0.26
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1.26
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2.26
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3.26
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4.00
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Expected volatility
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64.06
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%
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78.11
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%
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81.54
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%
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110.46
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%
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106.46
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%
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| Schedule of the Company's revenues disaggregated by products and services and timing of revenue recognition: |
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Year ended December 31,
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Revenue by recognition over time
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2020
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2019
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2018
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Revenue by recognition over time
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$
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4,293
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$
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5,115
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$
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1,570
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$
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4,293
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5,115
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$
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1,570
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Year ended December 31,
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Revenue by major product line
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2020
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2019
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2018
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Interest on loans
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$
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1,667
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$
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3,930
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$
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980
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Property lease and management
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1,130
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1,185
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590
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Financial technology solutions and services
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1,496
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—
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—
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$
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4,293
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5,115
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$
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1,570
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| Summary of the movement of the Company's contract liabilities |
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Rental receipt in advance
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Balance as of January 1, 2018
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$
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—
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Acquisition of Suns Tower Limited
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10
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Revenue recognized from beginning contract liability balance
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(10)
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Advances received from customers related to unsatisfied performance obligations
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6
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Balance as of December 31, 2018
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6
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Revenue recognized from beginning contract liability balance
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(6)
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Advances received from customers related to unsatisfied performance obligations
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8
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Balance as of December 31, 2019
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$
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8
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Revenue recognized from beginning contract liability balance
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(8)
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Advances received from customers related to unsatisfied performance obligations
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3
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Balance as of December 31, 2020
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$
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3
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