XML 121 R50.htm IDEA: XBRL DOCUMENT v3.20.1
PARENT ONLY INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2019
PARENT ONLY INFORMATION  
Condensed Balance Sheets

 

 

 

 

 

 

 

 

 

December 31, 

 

    

2018

    

2019

ASSETS

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

311

 

$

134

Prepaid expenses and other current assets

 

 

168

 

 

209

Amounts due from subsidiaries and VIEs

 

 

166,636

 

 

164,146

TOTAL ASSETS

 

$

167,115

 

$

164,489

 

 

 

 

 

 

 

LIABILITIES AND (DEFICIT) / EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities

 

 

 

 

 

 

Convertible promissory notes

 

 

51,922

 

 

 —

Accrued expenses and other current liabilities

 

 

1,880

 

 

618

Deficit of investment in subsidiaries and VIEs

 

 

121,113

 

 

132,044

TOTAL LIABILITIES

 

$

174,915

 

$

132,662

 

 

 

 

 

 

 

(DEFICIT) / EQUITY

 

 

 

 

 

 

Ordinary shares

 

$

11

 

$

14

Additional paid-in capital

 

 

239,269

 

 

262,888

Forward contracts

 

 

 —

 

 

15,769

Treasury shares, at cost

 

 

(27,261)

 

 

(27,512)

Accumulated deficit

 

 

(218,887)

 

 

(217,888)

Accumulated other comprehensive loss

 

 

(932)

 

 

(1,444)

TOTAL (DEFICIT) / EQUITY

 

 

(7,800)

 

 

31,827

TOTAL LIABILITIES AND (DEFICIT) / EQUITY

 

$

167,115

 

$

164,489

 

Condensed Statements of Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31

 

    

2017

    

2018

    

2019

General and administrative

 

 

2,246

 

 

1,145

 

 

1,113

Operating loss

 

 

(2,246)

 

 

(1,145)

 

 

(1,113)

Share of loss from subsidiaries and VIEs

 

 

(7,407)

 

 

(35,665)

 

 

(12,479)

Interest income

 

 

105

 

 

 —

 

 

 —

Change in fair value of convertible promissory notes

 

 

 —

 

 

(22,791)

 

 

14,591

(Loss) / Income before income taxes

 

 

(9,548)

 

 

(59,601)

 

 

999

Income tax expense

 

 

 —

 

 

 —

 

 

—

Net (loss) / income

 

 

(9,548)

 

 

(59,601)

 

 

999

Other comprehensive (loss) / income:

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment, net of nil income taxes

 

 

380

 

 

(733)

 

 

(512)

Total comprehensive (loss) / income

 

$

(9,168)

 

$

(60,334)

 

$

487

 

Condensed Statements of Cash Flows

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

    

2017

    

2018

    

2019

 

 

 

 

 

 

 

 

 

 

Net (loss) / income

 

 

(9,548)

 

 

(59,601)

 

 

999

Share of loss from subsidiaries and VIEs

 

 

7,407

 

 

35,665

 

 

12,479

Change in fair value of convertible promissory notes

 

 

 —

 

 

22,791

 

 

(14,591)

Prepaid expenses and other current assets

 

 

112

 

 

283

 

 

(41)

Accrued expenses and other current liabilities

 

 

(126)

 

 

(1,469)

 

 

(1,262)

Net cash used in operating activities

 

$

(2,155)

 

$

(2,331)

 

$

(2,416)

Changes in amounts due from subsidiaries and VIEs

 

 

(23,883)

 

 

4,512

 

 

2,490

Net cash (used in) / provided by investing activities

 

$

(23,883)

 

$

4,512

 

$

2,490

Proceeds from private placement and options exercised

 

 

37

 

 

13

 

 

 —

Repurchase of ordinary shares

 

 

(3,101)

 

 

(3,354)

 

 

(251)

Net cash used in financing activities

 

$

(3,064)

 

$

(3,341)

 

$

(251)

Net decrease in cash and cash equivalents

 

 

(29,102)

 

 

(1,160)

 

 

(177)

Cash and cash equivalents at beginning of the year

 

 

30,573

 

 

1,471

 

 

311

Cash and cash equivalents at end of the year

 

 

1,471

 

 

311

 

 

134