2021 Q4 Form 10-Q Financial Statement

#000117184321007946 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $12.48M $11.90M
YoY Change -3.28%
Cost Of Revenue $11.49M $11.86M
YoY Change -8.4%
Gross Profit $990.0K $43.00K
YoY Change -106.71%
Gross Profit Margin 7.93% 0.36%
Selling, General & Admin $2.837M $1.529M
YoY Change 135.23%
% of Gross Profit 286.57% 3555.81%
Research & Development $75.00K $88.00K
YoY Change -22.12%
% of Gross Profit 7.58% 204.65%
Depreciation & Amortization $182.0K $5.000K
YoY Change 150.0%
% of Gross Profit 18.38% 11.63%
Operating Expenses $2.912M $1.617M
YoY Change 111.93%
Operating Profit -$1.922M -$1.574M
YoY Change 12.11%
Interest Expense $1.000K $1.000K
YoY Change 0.0%
% of Operating Profit
Other Income/Expense, Net $1.166M $2.817M
YoY Change -3453.57%
Pretax Income -$755.0K $1.243M
YoY Change -183.53%
Income Tax $348.0K -$131.0K
% Of Pretax Income -10.54%
Net Earnings -$1.168M $1.375M
YoY Change -203.15%
Net Earnings / Revenue -9.36% 11.55%
Basic Earnings Per Share $0.04
Diluted Earnings Per Share -$33.03K $38.92K
COMMON SHARES
Basic Shares Outstanding 35.33M 35.33M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.173M $8.731M
YoY Change
Cash & Equivalents $7.173M $8.731M $4.297M
Short-Term Investments
Other Short-Term Assets $1.657M $1.658M $1.462M
YoY Change 13.34% 72.53% 13190.91%
Inventory
Prepaid Expenses
Receivables $3.439M $2.669M $2.407M
Other Receivables $0.00 $1.658M $1.462M
Total Short-Term Assets $19.92M $21.83M $12.88M
YoY Change 54.59% 116.07% 7.95%
LONG-TERM ASSETS
Property, Plant & Equipment $375.0K $190.0K $60.00K
YoY Change 525.0% 156.76% -23.08%
Goodwill
YoY Change
Intangibles $7.523M $3.275M $2.557M
YoY Change 194.21% 154.27% 34.65%
Long-Term Investments $2.280M $1.911M
YoY Change
Other Assets $516.0K $1.262M
YoY Change
Total Long-Term Assets $12.71M $13.09M $7.783M
YoY Change 63.34% 89.46% 17.64%
TOTAL ASSETS
Total Short-Term Assets $19.92M $21.83M $12.88M
Total Long-Term Assets $12.71M $13.09M $7.783M
Total Assets $32.63M $34.92M $20.67M
YoY Change 57.89% 105.26% 11.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.119M $750.0K $608.0K
YoY Change 84.05% 35.87% 49.02%
Accrued Expenses $591.0K $543.0K
YoY Change
Deferred Revenue $1.245M $1.311M $1.436M
YoY Change -13.3% -53.54% -28.41%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.821M $9.990M $8.022M
YoY Change 9.96% 28.8% 14.39%
LONG-TERM LIABILITIES
Long-Term Debt $137.0K $135.0K
YoY Change
Other Long-Term Liabilities $1.907M $1.923M
YoY Change
Total Long-Term Liabilities $2.044M $2.058M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.821M $9.990M $8.022M
Total Long-Term Liabilities $2.044M $2.058M
Total Liabilities $10.87M $12.05M $8.188M
YoY Change 32.69% 52.8% 14.71%
SHAREHOLDERS EQUITY
Retained Earnings -$43.73M -$42.57M -$40.98M
YoY Change 6.72% 5.4% 14.56%
Common Stock $35.00K $35.00K $26.00K
YoY Change 34.62% 59.09% 30.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.77M $22.93M $12.55M
YoY Change
Total Liabilities & Shareholders Equity $32.63M $34.92M $20.67M
YoY Change 57.89% 105.26% 11.41%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.168M $1.375M
YoY Change -203.15%
Depreciation, Depletion And Amortization $182.0K $5.000K
YoY Change 150.0%
Cash From Operating Activities -$2.238M -$1.269M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures -$28.00K -$85.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $658.0K -$1.651M
YoY Change
Cash From Investing Activities $630.0K -$1.736M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -2.238M -1.269M
Cash From Investing Activities 630.0K -1.736M
Cash From Financing Activities 0.000 0.000
Net Change In Cash -1.608M -3.005M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$2.238M -$1.269M
Capital Expenditures -$28.00K -$85.00K
Free Cash Flow -$2.210M -$1.184M
YoY Change

Facts In Submission

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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Income Taxes Paid
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us-gaap Interest Paid Net
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us-gaap Nature Of Operations
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:12pt;"><tbody><tr><td style="width:0pt;"> </td><td style="vertical-align:top;width:18pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><em style="font: inherit;">1.</em></b></p> </td><td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Organization and nature of operations </b></p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 22pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">ZW Data Action Technologies Inc. (f/k/a ChinaNet Online Holdings, Inc.) (the “Company”) was incorporated in the State of Texas in <em style="font: inherit;"> April 2006 </em>and re-domiciled to become a Nevada corporation in <em style="font: inherit;"> October 2006. </em>On <em style="font: inherit;"> June 26, 2009, </em>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 Internet advertising, precision marketing, Ecommerce online to offline (<em style="font: inherit;">O2O</em>) advertising and marketing services as well as the related data and technical services to small and medium enterprises (SMEs) in the PRC.</p>
us-gaap Use Of Estimates
UseOfEstimates
<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"><tbody><tr><td style="vertical-align:top;width:18pt;"><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>c)</b></p> </td><td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Use of estimates</b></p> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt;">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.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
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CY2020Q3 cnet Foreign Currency Exchange Rate Translation Average
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