2017 Form 10-K Financial Statement
#000117184318002741 Filed on April 16, 2018
Income Statement
Concept | 2017 | 2016 Q4 | 2016 |
---|---|---|---|
Revenue | $46.63M | $34.75M | |
YoY Change | 34.2% | 7.7% | |
Cost Of Revenue | $42.02M | $27.00M | |
YoY Change | 55.64% | 9.51% | |
Gross Profit | $4.613M | $7.751M | |
YoY Change | -40.49% | 1.85% | |
Gross Profit Margin | 9.89% | 22.31% | |
Selling, General & Admin | $10.20M | $11.74M | |
YoY Change | -13.16% | -2.81% | |
% of Gross Profit | 221.07% | 151.52% | |
Research & Development | $1.261M | $1.996M | |
YoY Change | -36.82% | -7.76% | |
% of Gross Profit | 27.34% | 25.75% | |
Depreciation & Amortization | $1.422M | $1.572M | |
YoY Change | -9.54% | -11.09% | |
% of Gross Profit | 30.83% | 20.28% | |
Operating Expenses | $14.01M | $13.90M | |
YoY Change | 0.81% | -17.88% | |
Operating Profit | -$9.398M | -$6.148M | |
YoY Change | 52.86% | -34.01% | |
Interest Expense | $107.0K | $13.00K | |
YoY Change | 723.08% | -72.34% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$362.0K | -$35.00K | |
YoY Change | 934.29% | -133.65% | |
Pretax Income | -$9.760M | -$6.183M | |
YoY Change | 57.85% | -32.88% | |
Income Tax | $251.0K | $102.0K | |
% Of Pretax Income | |||
Net Earnings | -$10.13M | -$6.492M | |
YoY Change | 55.96% | -28.6% | |
Net Earnings / Revenue | -21.71% | -18.68% | |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$835.8K | -$571.3K | |
COMMON SHARES | |||
Basic Shares Outstanding | 12.12M | 11.36M | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2017 | 2016 Q4 | 2016 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.950M | $6.090M | |
YoY Change | -51.56% | -30.56% | |
Cash & Equivalents | $2.950M | $3.035M | $3.040M |
Short-Term Investments | $0.00 | $3.060M | |
Other Short-Term Assets | $4.070M | $95.00K | $4.760M |
YoY Change | -14.5% | 111.11% | -38.74% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $7.230M | $3.322M | $3.540M |
Other Receivables | $2.650M | $89.00K | $80.00K |
Total Short-Term Assets | $16.90M | $14.48M | $14.48M |
YoY Change | 16.71% | -31.2% | -31.18% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $300.0K | $471.0K | $470.0K |
YoY Change | -36.17% | -30.84% | -30.88% |
Goodwill | $4.970M | ||
YoY Change | 13.06% | ||
Intangibles | $7.264M | ||
YoY Change | 28.84% | ||
Long-Term Investments | $920.0K | $709.0K | $1.340M |
YoY Change | -31.34% | -8.87% | 18.58% |
Other Assets | $1.360M | $1.520M | |
YoY Change | -10.53% | -40.86% | |
Total Long-Term Assets | $11.66M | $15.57M | $15.56M |
YoY Change | -25.06% | 7.94% | 7.91% |
TOTAL ASSETS | |||
Total Short-Term Assets | $16.90M | $14.48M | $14.48M |
Total Long-Term Assets | $11.66M | $15.57M | $15.56M |
Total Assets | $28.56M | $30.04M | $30.04M |
YoY Change | -4.93% | -15.28% | -15.28% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.850M | $102.0K | $100.0K |
YoY Change | 2750.0% | 7.37% | 0.0% |
Accrued Expenses | $560.0K | $690.0K | |
YoY Change | -18.84% | 0.0% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $1.700M | $1.610M | |
YoY Change | 5.59% | 71.28% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $12.96M | $7.620M | $7.620M |
YoY Change | 70.08% | 3.39% | 3.39% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $130.0K | $130.0K | |
YoY Change | 0.0% | -50.0% | |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $130.0K | $130.0K | |
YoY Change | 0.0% | -50.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $12.96M | $7.620M | $7.620M |
Total Long-Term Liabilities | $130.0K | $130.0K | |
Total Liabilities | $13.27M | $7.746M | $7.800M |
YoY Change | 70.13% | 1.61% | -4.06% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$10.36M | ||
YoY Change | 167.75% | ||
Common Stock | $12.00K | ||
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $15.29M | $22.24M | $22.24M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $28.56M | $30.04M | $30.04M |
YoY Change | -4.93% | -15.28% | -15.28% |
Cashflow Statement
Concept | 2017 | 2016 Q4 | 2016 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$10.13M | -$6.492M | |
YoY Change | 55.96% | -28.6% | |
Depreciation, Depletion And Amortization | $1.422M | $1.572M | |
YoY Change | -9.54% | -11.09% | |
Cash From Operating Activities | -$1.320M | -$563.0K | |
YoY Change | 134.46% | -110.16% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $4.000K | $148.0K | |
YoY Change | -97.3% | -58.43% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$2.070M | -$460.0K | |
YoY Change | 350.0% | 17.95% | |
Cash From Investing Activities | -$2.078M | -$2.576M | |
YoY Change | -19.33% | -44.36% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 753.0K | ||
YoY Change | -679.23% | ||
NET CHANGE | |||
Cash From Operating Activities | -1.320M | -563.0K | |
Cash From Investing Activities | -2.078M | -2.576M | |
Cash From Financing Activities | 753.0K | ||
Net Change In Cash | -3.139M | -2.386M | |
YoY Change | 31.56% | -405.9% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.320M | -$563.0K | |
Capital Expenditures | $4.000K | $148.0K | |
Free Cash Flow | -$1.324M | -$711.0K | |
YoY Change | 86.22% | -113.72% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2017Q4 | cnet |
Withholdingtax Rate Pursuant To Eit Law
WithholdingtaxRatePursuantToEitLaw
|
0.1 | |
CY2017Q4 | cnet |
Accrued Payroll And Other Accruals
AccruedPayrollAndOtherAccruals
|
559000 | |
CY2016Q4 | cnet |
Accrued Payroll And Other Accruals
AccruedPayrollAndOtherAccruals
|
685000 | |
CY2017Q4 | cnet |
Accumulated Impairment Of Intangible Assets Finite Lived
AccumulatedImpairmentOfIntangibleAssetsFiniteLived
|
4627000 | |
CY2016Q4 | cnet |
Accumulated Impairment Of Intangible Assets Finite Lived
AccumulatedImpairmentOfIntangibleAssetsFiniteLived
|
1875000 | |
CY2016 | cnet |
Adjustments To Additional Paid In Capital Reversal Of Goodwill Allocated To Disposal Group Attributable To Noncontrolling Interest
AdjustmentsToAdditionalPaidInCapitalReversalOfGoodwillAllocatedToDisposalGroupAttributableToNoncontrollingInterest
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CY2017Q4 | cnet |
Allowance For Doubtful Accounts Receivable Related Party Current
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CY2016Q4 | cnet |
Allowance For Doubtful Accounts Receivable Related Party Current
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144000 | |
CY2017 | cnet |
Collection Of Receivable On Disposal Of Vi Es
CollectionOfReceivableOnDisposalOfVIEs
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CY2016 | cnet |
Collection Of Receivable On Disposal Of Vi Es
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28000 | |
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CY2017 | cnet |
Cost Method Investments Exchange Translation Adjustment
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CY2016 | cnet |
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-152000 | |
CY2017 | cnet |
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CostmethodInvestmentsImpairment
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-46000 | |
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Effective Income Tax Rate Reconciliation Change Of Net Operating Loss Treatment Amount
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Effective Income Tax Rate Reconciliation Change Of Net Operating Loss Treatment Amount
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238000 | |
CY2016 | cnet |
Effective Income Tax Rate Reconciliation Preferential Tax Treatments And Tax Holiday Amount
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158000 | |
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Effective Income Tax Rate Reconciliation Toll Charge Income From New Tax Act Amount
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492000 | |
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Effective Income Tax Rate Reconciliation Toll Charge Income From New Tax Act Amount
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Equity Method Investment Accumulated Other Than Temporary Impairment
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833000 | |
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Equity Method Investment Accumulated Other Than Temporary Impairment
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784000 | |
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Foreign Currency Exchange Rate Translation Average
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6.7518 | |
CY2016 | cnet |
Foreign Currency Exchange Rate Translation Average
ForeignCurrencyExchangeRateTranslationAverage
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Options Exercisable Granted Vested Weighted Average Remaining Contractual Life
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Goodwill Accumulated Translation Adjustments
GoodwillAccumulatedTranslationAdjustments
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340000 | |
CY2017 | cnet |
Goodwill Accumulated Translation Adjustments
GoodwillAccumulatedTranslationAdjustments
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-307000 | |
CY2016 | cnet |
Goodwill Adjustment Due To Reclassification Of Disposal Group To Held And Use
GoodwillAdjustmentDueToReclassificationOfDisposalGroupToHeldAndUse
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Goodwill And Intangible Asset Impairment Continuing And Discontinued
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Goodwill And Intangible Asset Impairment Continuing And Discontinued
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Guarantee Payment And Prepayment From New Investors
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Guarantee Payment And Prepayment From New Investors
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Impaired Assets To Be Disposed Of By Method Other Than Sale Accumulated Amount Of Impairment Loss
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164000 | |
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154000 | |
CY2017Q4 | cnet |
Income Tax Withholding Rate Pursuant To Eit Law
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Increase Decrease In Prepayment And Deposit To Suppliers
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2 | |
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159080 | |
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Options Exercisable Granted Vested Weighted Average Remaining Contractual Life
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Payable For Purchasing Of Software Technology
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Preferential Withholding Tax Rate
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0.04 | |
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Prepayment And Deposit To Suppliers
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Profits Assessable
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Repayment For Security Purchase Agreement
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Repayment For Security Purchase Agreement
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|
2851000 | |
CY2017Q4 | cnet |
Security Purchase Agreement Termination Failure To Refund Amounts Annualized Interest Rate For Unpaid Amounts
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0.12 | |
CY2017Q4 | cnet |
Statute Of Limitations Special Circumstances Underpayment Of Taxes Threshold
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100000 | |
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Turnover Tax And Surcharge Payable Current
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Turnover Tax And Surcharge Payable Current
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|
1147000 | |
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Whollyowned Investment Holding Companies Incorporated
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2 | |
CY2016Q4 | us-gaap |
Accounts Payable Current
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10008000 | |
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Cash And Cash Equivalents At Carrying Value
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2952000 | |
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3035000 | |
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Allowance For Doubtful Accounts Receivable Current
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2712000 | |
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Allowance For Doubtful Accounts Receivable Write Offs
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1410000 | |
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Allowance For Doubtful Accounts Receivable Write Offs
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6034000 | |
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CY2016Q4 | us-gaap |
Accounts Receivable Net Current
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3322000 | |
CY2017Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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3258000 | |
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2922000 | |
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1598000 | |
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700000 | |
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29285000 | |
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1560000 | |
CY2017 | us-gaap |
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177000 | |
CY2016 | us-gaap |
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201000 | |
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Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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155000 | |
CY2017Q4 | us-gaap |
Advances To Affiliate
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80000 | |
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Advances To Affiliate
AdvancesToAffiliate
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75000 | |
CY2017 | us-gaap |
Advertising Expense
AdvertisingExpense
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CY2016 | us-gaap |
Advertising Expense
AdvertisingExpense
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2360000 | |
CY2017 | us-gaap |
Allocated Share Based Compensation Expense
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2271000 | |
CY2016 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2309000 | |
CY2017 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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1226000 | |
CY2016 | us-gaap |
Amortization Of Intangible Assets
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1324000 | |
CY2017Q4 | us-gaap |
Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
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|
8200000 | |
CY2016Q4 | us-gaap |
Amount Of Restricted Net Assets For Consolidated And Unconsolidated Subsidiaries
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7800000 | |
CY2017Q4 | us-gaap |
Assets
Assets
|
28560000 | |
CY2016Q4 | us-gaap |
Assets
Assets
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30042000 | |
CY2017Q4 | us-gaap |
Assets Current
AssetsCurrent
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16900000 | |
CY2016Q4 | us-gaap |
Assets Current
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14475000 | |
CY2017 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
||
CY2016 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
411000 | |
CY2017 | us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
0 | |
CY2016 | us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
0 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
1522000 | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
7657000 | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
7178000 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
6870000 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
7461000 | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
|
879000 | |
CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5503000 | |
CY2017 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-83000 | |
CY2016 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-2468000 | |
CY2017 | us-gaap |
Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
|
||
CY2016 | us-gaap |
Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
|
17000 | |
CY2017Q4 | us-gaap |
Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
|
||
CY2016Q4 | us-gaap |
Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
|
3056000 | |
CY2017Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2017Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | |
CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | |
CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
13982542 | |
CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12158542 | |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
30395722 | |
CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
12158542 | |
CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
13982542 | |
CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
12158542 | |
CY2017Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
14000 | |
CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
12000 | |
CY2017 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9227000 | |
CY2016 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-7848000 | |
CY2017 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
123000 | |
CY2016 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
127000 | |
CY2017 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-9104000 | |
CY2016 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-7721000 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
|
931000 | |
CY2017 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1422000 | |
CY2016 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1572000 | |
CY2017 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1422000 | |
CY2017 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
405000 | |
CY2016 | us-gaap |
Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
|
595000 | |
CY2017 | us-gaap |
Depreciation
Depreciation
|
196000 | |
CY2016 | us-gaap |
Depreciation
Depreciation
|
248000 | |
CY2015Q4 | us-gaap |
Cost Method Investments
CostMethodInvestments
|
1113000 | |
CY2016Q4 | us-gaap |
Cost Method Investments
CostMethodInvestments
|
1340000 | |
CY2017Q4 | us-gaap |
Cost Method Investments
CostMethodInvestments
|
918000 | |
CY2017Q4 | us-gaap |
Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
|
1125000 | |
CY2016Q4 | us-gaap |
Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
|
1492000 | |
CY2017 | us-gaap |
Cost Of Services
CostOfServices
|
42020000 | |
CY2016 | us-gaap |
Cost Of Services
CostOfServices
|
26999000 | |
CY2017 | us-gaap |
Costmethod Investments Other Than Temporary Impairment
CostmethodInvestmentsOtherThanTemporaryImpairment
|
0 | |
CY2016 | us-gaap |
Costmethod Investments Other Than Temporary Impairment
CostmethodInvestmentsOtherThanTemporaryImpairment
|
0 | |
CY2017 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
1000 | |
CY2016 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
||
CY2017Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
3559000 | |
CY2016Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
1420000 | |
CY2017 | us-gaap |
Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
|
0.3 | |
CY2017 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
251000 | |
CY2016 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
102000 | |
CY2017 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
250000 | |
CY2016 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
102000 | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
1358000 | |
CY2016Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
1522000 | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
1358000 | |
CY2016 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1572000 | |
CY2017Q4 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
14000 | |
CY2016Q4 | us-gaap |
Due From Related Parties Current
DueFromRelatedPartiesCurrent
|
213000 | |
CY2017Q4 | us-gaap |
Due To Officers Or Stockholders Noncurrent
DueToOfficersOrStockholdersNoncurrent
|
134000 | |
CY2016Q4 | us-gaap |
Due To Officers Or Stockholders Noncurrent
DueToOfficersOrStockholdersNoncurrent
|
126000 | |
CY2017 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
175000 | |
CY2016 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-259000 | |
CY2017 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
CY2016 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
CY2017Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
154000 | |
CY2016Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
544000 | |
CY2017Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
753000 | |
CY2016Q4 | us-gaap |
Equity Method Investments
EquityMethodInvestments
|
709000 | |
CY2017 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
CY2017 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P6Y138D | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
6443000 | |
CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
4875000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
656000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
497000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
646000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
656000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
656000 | |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
14878000 | |
CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
14014000 | |
CY2017 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7464000 | |
CY2016 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7670000 | |
CY2015Q4 | us-gaap |
Goodwill
Goodwill
|
4396000 | |
CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
4970000 | |
CY2017Q4 | us-gaap |
Goodwill
Goodwill
|
5277000 | |
CY2017 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
2552000 | |
CY2016 | us-gaap |
Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
|
||
CY2017 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
CY2016 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
0 | |
CY2017 | us-gaap |
Gross Profit
GrossProfit
|
4613000 | |
CY2016 | us-gaap |
Gross Profit
GrossProfit
|
7751000 | |
CY2017 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
2550000 | |
CY2016 | us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
0 | |
CY2017 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
2550000 | |
CY2016 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | |
CY2017 | us-gaap |
Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
|
114000 | |
CY2016 | us-gaap |
Income Loss From Continuing Operations Attributable To Noncontrolling Entity
IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
|
148000 | |
CY2017 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-9760000 | |
CY2016 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-6183000 | |
CY2017 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-9760000 | |
CY2016 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-6183000 | |
CY2017 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-10011000 | |
CY2016 | us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-6285000 | |
CY2017 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.84 | |
CY2016 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.57 | |
CY2017 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
||
CY2016 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
-59000 | |
CY2016 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
60000 | |
CY2017 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
||
CY2016 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
-0.01 | |
CY2017 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
251000 | |
CY2016 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
102000 | |
CY2017 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
434000 | |
CY2016 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
743000 | |
CY2017 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
1859000 | |
CY2016 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
||
CY2017 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
724000 | |
CY2016 | us-gaap |
Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
|
354000 | |
CY2017 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-3416000 | |
CY2016 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-2164000 | |
CY2017 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
-80000 | |
CY2016 | us-gaap |
Income Tax Reconciliation Nondeductible Expense Other
IncomeTaxReconciliationNondeductibleExpenseOther
|
87000 | |
CY2016 | us-gaap |
Interest Paid Net
InterestPaidNet
|
13000 | |
CY2017 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
40000 | |
CY2016 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
90000 | |
CY2016 | us-gaap |
Interest Expense
InterestExpense
|
13000 | |
CY2017 | us-gaap |
Interest Paid Net
InterestPaidNet
|
38000 | |
CY2017 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
||
CY2016 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2000 | |
CY2017 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2654000 | |
CY2016 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-137000 | |
CY2017 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4848000 | |
CY2016 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
975000 | |
CY2017 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
76000 | |
CY2016 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
19000 | |
CY2017 | us-gaap |
Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
|
1985000 | |
CY2016 | us-gaap |
Increase Decrease In Customer Advances
IncreaseDecreaseInCustomerAdvances
|
-362000 | |
CY2017 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
7000 | |
CY2016 | us-gaap |
Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
|
336000 | |
CY2017 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-58000 | |
CY2016 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
413000 | |
CY2017 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-2000 | |
CY2016 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-116000 | |
CY2017 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-78000 | |
CY2016 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-1527000 | |
CY2017Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
3808000 | |
CY2016Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
7264000 | |
CY2017 | us-gaap |
Interest Expense
InterestExpense
|
147000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1062000 | |
CY2016 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2576000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1320000 | |
CY2016 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-563000 | |
CY2017 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10125000 | |
CY2017Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
||
CY2016Q4 | us-gaap |
Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
|
||
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
13097000 | |
CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
7746000 | |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
28560000 | |
CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
30042000 | |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
12963000 | |
CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7620000 | |
CY2017Q4 | us-gaap |
Long Term Investments
LongTermInvestments
|
918000 | |
CY2016Q4 | us-gaap |
Long Term Investments
LongTermInvestments
|
1340000 | |
CY2017Q4 | us-gaap |
Minority Interest
MinorityInterest
|
177000 | |
CY2016Q4 | us-gaap |
Minority Interest
MinorityInterest
|
54000 | |
CY2017 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div></td> <td style="text-align: justify">Organization and nature of operations</td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in">ChinaNet Online Holdings, Inc. (the “Company”) was incorporated in the State of Texas in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2006 </div>and re-domiciled to become a Nevada corporation in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2006. </div>On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 26, 2009, </div>the Company consummated a share exchange transaction with China Net Online Media Group Limited (the “Share Exchange”), a company organized under the laws of British Virgin Islands (“China Net BVI”). As a result of the Share Exchange, China Net BVI became a wholly owned subsidiary of the Company and 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 (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">O2O</div>) sales channel expansion and the related data services to small and medium enterprises (“SMEs”) and entrepreneurial management and networking services for entrepreneurs in the PRC.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in">The Company’s wholly owned subsidiary, China Net BVI was incorporated in the British Virgin Islands on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 13, 2007. </div>On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 11, 2008, </div>China Net BVI became the parent holding company of a group of companies comprised of CNET Online Technology Limited, a Hong Kong company (“China Net HK”), which established and is the parent company of Rise King Century Technology Development (Beijing) Co., Ltd., a wholly foreign-owned enterprise (“WFOE”) established in the PRC (“Rise King WFOE”). The Company refers to the transactions that resulted in China Net BVI becoming an indirect parent company of Rise King WFOE as the “Offshore Restructuring.”</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in">PRC regulations prohibit direct foreign ownership of business entities providing internet content, or ICP services in the PRC, and used to restrict foreign ownership of business entities engaging in the advertising business, which was subsequently lifted in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2015. </div>To satisfy PRC laws and regulations, the Company conducts certain business in the PRC through its Variable Interest Entities (“VIEs”). Through a series of contractual agreements (the “Contractual Agreements” or “VIE Agreements”) between Rise King WFOE and Business Opportunity Online (Beijing) Network Technology Co., Ltd. (“Business Opportunity Online”), Beijing CNET Online Advertising Co., Ltd. (“Beijing CNET Online”) (collectively the “PRC Operating Entities” or the “VIEs”) and its common individual owners (the “PRC Shareholders” or the “Control Group”), the Company, through Rise King WFOE, secures significant rights to influence the PRC Operating Entities’ business operations, policies and management, approve all matters requiring shareholder approval, and the right to receive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100%</div> of the income earned by the PRC Operating Entities. In return, Rise King WFOE provides consulting services to the PRC Operating Entities. In addition, to ensure that the PRC Operating Entities and the PRC Shareholders perform their obligations under the Contractual Arrangements, the PRC Shareholders have pledged all of their equity interests in the PRC Operating Entities to Rise King WFOE. They also entered into an option agreement with Rise King WFOE which provides that at such time as when the restrictions under PRC law on foreign ownership of Chinese companies engaging in the Internet content, information services or advertising business in China are lifted, Rise King WFOE <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exercise its option to purchase the equity interests in the PRC Operating Entities, directly.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in"> </div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in">Pursuant to the Contractual Agreements, all of the equity owners' rights and obligations of the VIEs were assigned to Rise King WFOE, which resulted in the equity owners lacking the ability to make decisions that have a significant effect on the VIEs, Rise King WFOE's ability to extract the profits from the operation of the VIEs and assume the residual benefits of the VIEs. Due to the fact that Rise King WFOE and its indirect parent are the sole interest holders of the VIEs, the Company included the assets, liabilities, revenues and expenses of the VIEs in its consolidated financial statements, which is consistent with the provisions of FASB Accounting Standards Codification ("ASC") Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">810</div> “Consolidation”, subtopic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.</div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0pt 0 0pt 0.25in"> </div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"><div style="display: inline; color: windowtext">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div></div>the Company’s VIE, Beijing CNET Online is a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51%</div> shareholder of Shanghai Borongdingsi Computer Technology Co., Ltd. (“Shanghai Borongdingsi”), a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> stockholder of Chuangshi Meiwei (Beijing) International Investment Management Co., Ltd. (“Chuangshi Meiwei”) and a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> shareholder of Beijing Saturday Education Technology Co., Ltd. (“Beijing Saturday”). The Company’s VIE, Business Opportunity Online is a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51%</div> shareholder of Beijing Chuang Fu Tian Xia Network Technology Co., Ltd. (“Beijing Chuang Fu Tian Xia”), <div style="display: inline; color: windowtext">a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19%</div> shareholder of Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”), </div>the sole shareholder of Business Opportunity Online (Hubei) Network Technology Co., Ltd. (“Business Opportunity Online Hubei”), the sole shareholder of Beijing Chuang Shi Xin Qi Advertising Media Co., Ltd. (“Beijing Chuang Shi Xin Qi”), the sole shareholder of Beijing Hong Da Shi Xing Network Technology Co., Ltd. (“Beijing Hong Da Shi Xing”), the sole shareholder of Beijing Shi Ji Cheng Yuan Advertising Media Co., Ltd. (“Beijing Shi Ji Cheng Yuan”) and a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.18%</div> shareholder of Shenzhen City Mingshan Network Technology Co., Ltd. (“Shenzhen Mingshan”). Business Opportunity Online Hubei is the sole shareholder of Hubei CNET Advertising Media Co., Ltd. (“Hubei CNET”), the sole shareholder of Sheng Tian Network Technology (Hubei) Co., Ltd. (“Sheng Tian Hubei”) and a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.5%</div> shareholder of Zhao Shang Ke Network Technology (Hubei) Co., Ltd. (“Zhao Shang Ke Hubei”).</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"></div> <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"> </div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company also controls <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> wholly-owned investment holding companies, ChinaNet Investment Holding Ltd, a British Virgin Islands company (“ChinaNet Investment BVI”), and ChinaNet Online Holdings Co., Ltd., a PRC company (“ChinaNet Online PRC”). ChinaNet Investment BVI co-incorporated ChinaNet Online Holdings Korea (“ChinaNet Korea”) with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> unaffiliated individuals and beneficially own <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%</div> equity interest in ChinaNet Korea. ChinaNet Online PRC co-incorporated ChinaNet Chuang Tou (Shenzhen) Co., Ltd. (“ChinaNet Chuang Tou”) with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> unaffiliated individuals and beneficially own <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19%</div> equity interest in ChinaNet Chuang Tou.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"> </div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">The Company operated its business primarily in China through its PRC subsidiaries and operating entities, or VIEs as discussed above.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"> </div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 18, 2016, </div>the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of State of Nevada to effect a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-for-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-half (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.5</div>) reverse stock split of the Company’s common stock (the “Common Stock”), which became effective on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 19, 2016 (</div>the “Reverse Stock Split”). When the Reverse Stock Split became effective, each <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div>-half shares of issued and outstanding Common Stock were converted into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> newly issued and outstanding share of Common Stock. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> fractional shares were issued in connection with the reverse stock split. Any fractional shares of Common Stock that would have otherwise resulted from the reverse stock split were rounded up to the nearest full share. The Reverse Stock Split did <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> change the par value of the Common Stock and had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> effect on the number of authorized shares of Common Stock of the Company. As a result of the Reverse Stock Split, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,395,722</div> shares of Common Stock that were issued and outstanding at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 19, 2016 </div>was reduced to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,158,542</div> shares of Common Stock (taking into account the rounding of fractional shares). All number of shares, share prices, share amounts and per share data have been retroactively restated to reflect the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.5</div> reverse stock split of the Company wherever applicable in the following notes to consolidated financial statements.</div></div> | |
CY2017 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
||
CY2016 | us-gaap |
Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
|
177000 | |
CY2017 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
||
CY2016 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
753000 | |
CY2016 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6492000 | |
CY2017 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-10125000 | |
CY2016 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-6433000 | |
CY2017 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-318000 | |
CY2016 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-35000 | |
CY2017 | us-gaap |
Operating Expenses
OperatingExpenses
|
14055000 | |
CY2016 | us-gaap |
Operating Expenses
OperatingExpenses
|
13899000 | |
CY2017 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-9442000 | |
CY2016 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6148000 | |
CY2017 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
409000 | |
CY2016 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
580000 | |
CY2017Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
13275660 | |
CY2017 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
907000 | |
CY2016 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-1377000 | |
CY2017Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
687000 | |
CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
487000 | |
CY2017 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-211000 | |
CY2016 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-112000 | |
CY2017Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
2646000 | |
CY2016Q4 | us-gaap |
Other Receivables Net Current
OtherReceivablesNetCurrent
|
89000 | |
CY2017 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
|
44000 | |
CY2016 | us-gaap |
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
|
159000 | |
CY2017 | us-gaap |
Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
|
2814000 | |
CY2016 | us-gaap |
Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
|
||
CY2017 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
||
CY2016 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
1969000 | |
CY2017 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4000 | |
CY2016 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
148000 | |
CY2017 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
741000 | |
CY2016 | us-gaap |
Proceeds From Bank Debt
ProceedsFromBankDebt
|
753000 | |
CY2017 | us-gaap |
Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
|
296000 | |
CY2016 | us-gaap |
Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
|
||
CY2017 | us-gaap |
Profit Loss
ProfitLoss
|
-10011000 | |
CY2016 | us-gaap |
Profit Loss
ProfitLoss
|
-6344000 | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3721000 | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3547000 | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
299000 | |
CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
471000 | |
CY2017 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
1462000 | |
CY2016 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
368000 | |
CY2017Q4 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
765000 | |
CY2016Q4 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
721000 | |
CY2017 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
741000 | |
CY2016 | us-gaap |
Repayments Of Bank Debt
RepaymentsOfBankDebt
|
||
CY2017 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1261000 | |
CY2016 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1996000 | |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-20487000 | |
CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-10362000 | |
CY2017 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
35000 | |
CY2016 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
450000 | |
CY2017 | us-gaap |
Revenues
Revenues
|
46633000 | |
CY2016 | us-gaap |
Revenues
Revenues
|
34750000 | |
CY2017 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
46598000 | |
CY2016 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
34300000 | |
CY2017 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
2734000 | |
CY2016 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
4074000 | |
CY2017 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2271000 | |
CY2016 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2309000 | |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
517056 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
676136 | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
835216 | |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.73 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.59 | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.49 | |
CY2016 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
0 | |
CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
0 | |
CY2016 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | |
CY2017 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
835216 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
835216 | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
835216 | |
CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.49 | |
CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.49 | |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.49 | |
CY2016 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
CY2017 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
CY2016 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
CY2017 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
0 | |
CY2016 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2017 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y87D | |
CY2016 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P4Y40D | |
CY2017 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y14D | |
CY2015 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P5Y14D | |
CY2016 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P4Y14D | |
CY2017 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P3Y14D | |
CY2017Q4 | us-gaap |
Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
|
1404340 | |
CY2017Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2016Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2017 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | |
CY2016 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | |
CY2017Q4 | us-gaap |
Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
|
0.05655 | |
CY2017Q4 | us-gaap |
Statutory Accounting Practices Retained Earnings Not Available For Dividends
StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends
|
2607000 | |
CY2016Q4 | us-gaap |
Statutory Accounting Practices Retained Earnings Not Available For Dividends
StatutoryAccountingPracticesRetainedEarningsNotAvailableForDividends
|
2607000 | |
CY2016 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | |
CY2017 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | |
CY2016 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
371000 | |
CY2017 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
234000 | |
CY2016 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
177000 | |
CY2017 | us-gaap |
Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
|
1705000 | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15286000 | |
CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22242000 | |
CY2017Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
15463000 | |
CY2016Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
22296000 | |
CY2015Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
27708000 | |
CY2017Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
3168000 | |
CY2016Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
2910000 | |
CY2016Q4 | us-gaap |
Time Deposits Weighted Average Interest Rate Maturities Year One
TimeDepositsWeightedAverageInterestRateMaturitiesYearOne
|
0.0225 | |
CY2017 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-weight: bold; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 6.55pt"></td> <td style="width: 21pt">c)</td> <td style="text-align: justify">Use of estimates</td> </tr> </table> <div style=" font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 27.55pt"> </div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 27.55pt">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.</div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0pt 0 0pt 27.55pt"></div></div></div></div> | |
CY2017 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
12116783 | |
CY2016 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
11357907 | |
CY2017 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
12116783 | |
CY2016 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11357907 |