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TAXATION (Tables)

12 Months Ended

Dec. 31, 2023

TAXATION

Schedule of significant components of provision for income taxes on earnings

​

​	​	​	​	​	​	​	​	​
​		​	Years ended December 31,
​		2021			2022		2023
​	​	​	​	​	​	​	​	​
Current:	​	$	37	​	—	​	$	14
Deferred:		​	(542)		—		​	—
Income tax benefits (expense)		$	(505)		—		$	14

Schedule of principal components of the group's deferred tax assets and liabilities

​

​	​	​	​	​	​	​
​		​	As of December 31,
​		2022			2023
Deferred tax asset:	​	​	​	​	​	​
Accrued expense		$	109		$	1
Allowance for doubtful accounts		​	309		​	346
Depreciation	​	​	85	​	​	84
Lease Liability	​	​	2,228	​	​	2,095
Tax loss carried forward		​	5,977		​	6,661
Research and development capitalization	​	​	—	​	​	91
Tax Credits		​	—		​	59
Total deferred tax assets		​	8,708		​	9,337
Valuation allowance		​	(6,579)		​	(7,794)
Deferred tax assets, net of valuation allowance		$	2,129		$	1,543
​		​	​		​	​
Deferred tax liabilities:		​	​		​	​
- Unrealized gain on acquisition/disposal	​	​	196	​	​	173
- Right-of-use assets	​	​	1,933	​	​	1,370
Total deferred tax liabilities		$	2,129		$	1,543
Deferred tax assets, net of valuation allowance and deferred tax liabilities		​	—		​	—

Summary of amounts and expiration dates of operating loss carried forwards

​

​	​	​	​
​		Amount
2024		​	—
2025		​	—
2026		​	—
2027		​	—
2028 and thereafter		$	41,777
Total		$	41,777

Schedule of roll-forward of the valuation allowance

​

​	​	​	​	​	​	​
​	​		As of December 31,
​		2022		​	2023
Balance at beginning of the year	​	$	4,139	​	$	6,579
Allowance made during the year	​		2,440	​		1,215
Reversals	​		—	​		—
NOL expire	​	​	—	​	​	—
Balance at end of the year	​	$	6,579	​	$	7,794

Summary of reconciliation between total income tax expense and the amount computed by applying the US statutory income tax rate to income before income taxes

​

​	​	​	​	​	​	​	​
​	​	Years ended December 31,
​		2021		2022		2023
​	​	%	​	%	​	%	​
Weighted average statutory income tax rate		(21)	%	(21)	%	(21)	%
States taxes, net of federal benefit		(2)	%	(5)	%	(7)	%
Tax effect of non-deductible expenses		(7)	%	(4)	%	—	%
Tax effect of tax-exempt entities	​	—	%	4	%	2	%
Prior year true up		—	%	—	%	(5)	%
Changes in valuation allowance		23	%	26	%	31	%
Effective tax rate		(7)	%	—	%	—	%

Summary of Income /(loss) before income taxes from continuing operations is attributable to the following geographic locations

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2021			2022			2023
United States	​	$	(6,737)	​	$	(7,305)	​	$	(2,843)
Foreign	​		(457)	​		(1,947)	​		(318)
Total loss before income taxes	​	$	(7,194)	​	$	(9,252)	​	$	(3,161)

​

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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