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Note 5 - Related Party Transactions | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Related Party Transactions Disclosure [Text Block] |
5. | Related party transactions
In addition to transactions disclosed elsewhere in the consolidated financial statements, the related party transactions for the years presented were as follows: Mr. Linqing Jia Mr. Linqing Jia entered into a loan agreement with Wanchun Biotech on October 8, 2010 whereby Mr. Linqing Jia provided a loan of $5,000 (RMB33,145) to Wanchun Biotech to purchase patent of Plinabulin in the territories of the PRC and Hong Kong with a maturity date of 8 years. On January 4, 2014 and July 1, 2014, Mr. Linqing Jia provided loans of $496 (RMB3,000) and $2,002 (RMB12,410) to the Group for operational use, respectively. Both of these shareholder loans were interest-free and repayable with a maturity date of 5 years. Such RMB denominated shareholder loans were included as noncurrent liabilities. Interest expenses have been accrued and recorded in additional paid-in capital as shareholder contributions according to market interest rates ranging from 6.48% to 12.39% in 2015 (2014: 7.83% to 12.91%). On March 30, 2015 and June 4, 2015, Mr. Linqing Jia provided loans of $1,192 (RMB7,400) and $81 (RMB500) to the Company, respectively. Both of these shareholder loans are interest-free and repayable on demand. The Company repaid $323 on April 3, 2015 and $79 on September 6, 2015, respectively. Interest expenses have been accrued and recorded in additional paid-in capital as shareholder contributions according to market interest rate ranging from 10.07% to 12.29% in 2015. On July 20, 2015, such outstanding RMB denominated loans granted by Mr. Jia were distributed to Wanchun Biotech pursuant to the Internal Restructuring as set out in Note 1. Hence, these outstanding shareholder loans were not included in these consolidated financial statements after the Internal Restructuring. On July 20, 2015, such outstanding RMB denominated loans granted by Mr. Jia were distributed to Wanchun Biotech as a noncontrolling shareholder. Hence, these outstanding shareholder loans were not included in these consolidated financial statements thereafter.
Dr. Lan Huang Dr. Lan Huang provided consulting services to BeyondSpring US at a fee of $300, $300 and $75 for the years ended December 31, 2014, 2015 and 2016, respectively. On April 1, 2015, the Company provided RMB denominated loan of $211 (RMB1,300) to Dr. Lan Huang for personal use, which is unsecured, interest free and repayable on demand. $190 of this loan was net settled against the consulting service fees due to Dr. Lan Huang, with the remaining part of the loan settled by cash. Wanchun Pharma as an equity investee prior to April 14, 2015 In January and August 2014, Wanchun Biotech provided RMB denominated loans amounting to $960 (RMB6,000) in total to Wanchun Pharma, then Wanchun Pharma used it for research and development activities of BeyondSpring US. The loan is unsecured, interest-free and repayable on demand. In April 2015, Wanchun Biotech provided RMB denominated loan of $650 (RMB4,000) to Wanchun Pharma, then Wanchun Pharma used it for research and development activities of BeyondSpring US. The loan is unsecured, interest free and repayable on demand. On April 10, 2015, BeyondSpring US, Wanchun Biotech and Wanchun Pharma entered into a three party agreement. The above loans due to Wanchun Biotech by Wanchun Pharma were net settled against the loans due to Wanchun Pharma by BeyondSpring US, before the acquisition of 9.09% equity interests in Wanchun Pharma by the Group (Note 4). Wanchun Biotech as a noncontrolling shareholder On November 28, 2016, Wanchunbulin entered into a purchase contract with Wanchun Biotech to purchase drugs from Wanchun Biotech for clinical research purpose. During the year ended December 31, 2016, Wanchun Biotech purchased drugs amounting to $110 (RMB 754) from third party vendors and sold to Wanchunbulin without any margin. Others In addition, Dr. Lan Huang and Wanchun Biotech as a noncontrolling shareholder, paid for certain general administrative and research and development expenses on behalf of the Company during 2014, 2015 and 2016. Such amounts paid on behalf of the Company are unsecured, interest-free and repayable on demand. Due to related parties consisted of the following:
|  |  | December 31, |
|  |  | 2015 |  |  |  | 2016 |
Due to Dr. Lan Huang |  |  | 386 |  |  |  | 210 |
Due to Wanchun Biotech |  |  | 46 |  |  |  | - |
|  |  | 432 |  |  |  | 210 |

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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