|
Consolidated Statements of Cash Flows (In thousands) (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2012
|
Mar. 31, 2011
|
| Cash flows from operating activities |
|
|
| Net (loss)/income |
$ (291) |
$ 2,796 |
| Adjustments to reconcile net income to net cash provided by operating activities |
|
|
| Depreciation and amortization |
409 |
199 |
| Share-based compensation expenses |
17 |
107 |
| Share of losses in equity investment affiliates |
193 |
47 |
| Gain on deconsolidation of subsidiaries |
|
(229) |
| Gain on disposal of property and equipment |
|
(3) |
| Deferred taxes |
(381) |
(15) |
| Changes in operating assets and liabilities |
|
|
| Accounts receivable |
(3,154) |
(1,302) |
| Other receivables |
261 |
3,691 |
| Prepayment and deposit to suppliers |
1,740 |
(162) |
| Due from equity investment affiliates |
|
(8) |
| Due from related parties |
48 |
(190) |
| Other current assets |
(22) |
(19) |
| Accounts payable |
(56) |
336 |
| Advances from customers |
1,162 |
(1,263) |
| Accrued payroll and other accruals |
(133) |
(60) |
| Due to director |
|
(403) |
| Due to related parties |
(78) |
(137) |
| Other payables |
18 |
39 |
| Taxes payable |
630 |
397 |
| Net cash provided by operating activities |
363 |
3,821 |
| Cash flows from investing activities |
|
|
| Purchases of vehicles and office equipment |
(9) |
(57) |
| Purchase of intangible assets |
|
(11) |
| Project development deposit to a third party |
(2,452) |
|
| Cash from acquisition of VIEs |
|
24 |
| Cash effect on deconsolidation of VIEs |
|
(181) |
| Long-term investment in and advance to equity investment affiliates |
|
(1,518) |
| Net cash used in investing activities |
(2,461) |
(1,743) |
| Cash flows from financing activities |
|
|
| Cash investment contributed by noncontrolling interests |
|
74 |
| Dividend paid to convertible preferred stockholders |
(5) |
(171) |
| Short-term loan borrowed from a equity investment affiliate |
316 |
|
| Net cash provided by (used in) financing activities |
311 |
(97) |
| Effect of exchange rate fluctuation on cash and cash equivalents |
56 |
59 |
| Net (decrease) / increase in cash and cash equivalents |
(1,731) |
2,040 |
| Cash and cash equivalents at beginning of the period |
10,695 |
15,590 |
| Cash and cash equivalents at end of the period |
8,964 |
17,630 |
| Supplemental disclosure of cash flow information |
|
|
| Income taxes paid |
15 |
22 |
| Restricted stock and options granted for future service |
$ 74 |
$ 193 |