0001410578-22-001485 | 20-F | XBRL Viewer

FINANCIAL INFORMATION OF PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2021

FINANCIAL INFORMATION OF PARENT COMPANY

Schedule of Parent's Condensed Balance Sheets


	As of December 31,
	2020		2021
Assets
Current assets
Cash and cash equivalents	$	2	$	2
Amount due from subsidiaries		34,031		27,298
Other current assets		108		108

Total current assets		34,141		27,408

TOTAL ASSETS	$	34,141	$	27,408

Liabilities
Current liabilities
Accrued expenses and other current liabilities	$	2,518	$	2,909

Total liabilities		2,518		2,909

Equity
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 151,573,363 and 179,986,169 shares issued as of December 31, 2020 and 2021, respectively; 149,541,085 and 178,993,449 shares outstanding as of December 31, 2020 and 2021, respectively)		152		181
Additional paid-in capital		288,879		298,685
Treasury stock (2,032,278 and 992,720 shares as of December 31, 2020 and 2021, respectively)		(2,351)		(1,148)
Accumulated deficits		(286,365)		(304,904)
Accumulated other comprehensive income		31,308		31,685

Total equity		31,623		24,499

TOTAL LIABILITIES AND EQUITY	$	34,141	$	27,408

Schedule of Parent's Condensed Statements of Operations


	For the years ended December 31,
	2019		2020		2021
Operating expenses
Selling and marketing	$	—	$	—	$	—
General and administrative		(1,010)		(250)		(566)

Total operating expenses		(1,010)		(250)		(566)
Other income (loss), net		15		(32)		(11)
Investment (loss) income in subsidiaries		(30,482)		7,809		(16,758)

Net (loss) income attributable to holders of ordinary shares	$	(31,477)	$	7,527	$	(17,335)

Schedule of Parents' Condensed Statements of Comprehensive Income/Loss


	For the years ended December 31,
	2019		2020		2021
Net (loss) income	$	(31,477)	$	7,527	$	(17,335)
Other comprehensive loss, net of tax:
Change in cumulative foreign currency translation adjustment		381		(384)		377

Comprehensive (loss) income attributable to Parent Company	$	(31,096)	$	7,143	$	(16,958)

Schedule of Parent's Condensed Statements of Changes in Equity


								(Accumulated		Accumulated
	Ordinary shares			Additional				deficits)		other
				paid-in		Treasury		retained		comprehensive		Total
	Shares	Amount		capital		stock		earnings		Income (loss)		equity

Balance as of January 1, 2020	125,664,777	$	128	$	284,726	$	(2,351)	$	(262,415)	$	31,311	$	51,399
Share-based compensation	—		—		161		—		—		—		161
Foreign currency translation adjustment	—		—		—		—		—		381		381
Net loss	—		—		—		—		(31,477)		—		(31,477)
Balance as of December 31, 2019	125,664,777	$	128		284,887		(2,351)		(293,892)		31,692		20,464
Share issued	23,876,308		24		2,507		—		—		—		2,531
Share-based compensation	—		—		186		—		—		—		186
Capital contribution from non-controlling	—		—		1,299		—		—		—		1,299
Foreign currency translation adjustment	—		—		—		—		—		(384)		(384)
Net income	—		—		—		—		7,527		—		7,527
Balance as of December 31, 2020	149,541,085		152		288,879		(2,351)		(286,365)		31,308		31,623
Ordinary shares issued for share based compensation	1,039,558		1		—		1,203		(1,204)		—		—
Share issued for purchase of equipment	28,412,806		28		8,922		—		—		—		8,950
Share-based compensation	—		—		186		—		—		—		186
Capital contribution from non-controlling	—		—		698		—		—		—		698
Foreign currency translation adjustment	—		—		—		—		—		377		377
Net income	—		—		—		—		(17,335)				(17,335)
Balance as of December 31, 2021	178,993,449		181		298,685		(1,148)		(304,904)		31,685		24,499

Schedule of Parent's Condensed Statements of Cash Flows


	For the years ended December 31,
	2019		2020		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$	(31,477)	$	7,527	$	(17,335)
Investment income (loss) in subsidiaries		30,482		(7,809)		16,758
Share-based compensation		161		186		186
Bad debt provisions		286		—		—

CHANGES IN WORKING CAPITAL ACCOUNTS
Other current assets		1,501		—		—
Accrued expenses and other current liabilities		695		96		391
Amount due from subsidiaries		(1,651)		—		—

Net cash used in operating activities		(3)		—		—

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercises of stock options		—		—		—

Net cash provided by financing activities		—		—		—

Net decrease in cash, cash equivalents and restricted cash		(3)		—		—
Cash, cash equivalents and restricted cash, at beginning of year		5		2		2

Cash and cash equivalents, at end of year	$	2	$	2	$	2

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Share issuance for purchase of property and equipment	$	—	$	2,531	$	8,950

FAIR VALUE MEASUREMENT	12 Months Ended
Dec. 31, 2021
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT	13. FAIR VALUE MEASUREMENT Measured on recurring basis The Group measured its financial assets and liabilities, including cash and cash equivalents, accounts receivable, amounts due from related parties, prepaid equipment costs, accounts payable and amounts to from related parties on a recurring basis as of December 31, 2020 and 2021. Cash and cash equivalents and cryptocurrency are classified within Level 1 of the fair value hierarchy because they are valued based on the quoted market price in an active market. The carrying amounts of accounts receivable, amounts due from related parties, prepaid equipment cost and accounts payable approximate their fair values due to their short-term maturity. 13. FAIR VALUE MEASUREMENT - continued Measured on non-recurring basis The Group measured property and equipment at fair value on a nonrecurring basis. The fair value was determined using models with significant unobservable inputs (Level 3 inputs). This was based on a number of key assumptions, including, but not limited to, undiscounted future cash flows and the annual net revenue projections based on the projected levels of advertising activities during the forecast periods, all of which were classified as Level 3 in the fair value hierarchy. As a result, the Group recorded nil, nil and nil impairment charged for the years ended December 31, 2019, 2020 and 2021, respectively. The Group measured its long-term investment in AM Advertising at fair value on a nonrecurring basis as result of the disposal transaction. The fair value was determined using the market approach with unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities (Level 2 inputs). The impairment recorded was nil, nil and nil impairment charged for the years ended December 31, 2019, 2020 and 2021, respectively.

FAIR VALUE MEASUREMENT

12 Months Ended

Dec. 31, 2021

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT

13. FAIR VALUE MEASUREMENT

Measured on recurring basis

The Group measured its financial assets and liabilities, including cash and cash equivalents, accounts receivable, amounts due from related parties, prepaid equipment costs, accounts payable and amounts to from related parties on a recurring basis as of December 31, 2020 and 2021.

Cash and cash equivalents and cryptocurrency are classified within Level 1 of the fair value hierarchy because they are valued based on the quoted market price in an active market. The carrying amounts of accounts receivable, amounts due from related parties, prepaid equipment cost and accounts payable approximate their fair values due to their short-term maturity.

13. FAIR VALUE MEASUREMENT - continued

Measured on non-recurring basis

The Group measured property and equipment at fair value on a nonrecurring basis. The fair value was determined using models with significant unobservable inputs (Level 3 inputs). This was based on a number of key assumptions, including, but not limited to, undiscounted future cash flows and the annual net revenue projections based on the projected levels of advertising activities during the forecast periods, all of which were classified as Level 3 in the fair value hierarchy. As a result, the Group recorded nil, nil and nil impairment charged for the years ended December 31, 2019, 2020 and 2021, respectively.

The Group measured its long-term investment in AM Advertising at fair value on a nonrecurring basis as result of the disposal transaction. The fair value was determined using the market approach with unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities (Level 2 inputs). The impairment recorded was nil, nil and nil impairment charged for the years ended December 31, 2019, 2020 and 2021, respectively.

LONG-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2021

LONG-TERM INVESTMENTS.

Schedule of Equity Method Investments


	As of December 31,
	2020			2021
	Percentage			Percentage
	of			of
Name of company	ownership	Amount		ownership	Amount
	%			%

Beijing Eastern Media Corporation Ltd. (“BEMC”) (1)	49	$	1,950	49	$	1,338

Beijing Hezhong Chuangjin Investment Co., Ltd. (“Hezhong Chuangjin”) (2)	15		1,987	15		1,983

Lanmeihangbiao Tiandi Internet Investment Management (Beijing) Co., Ltd. (“LMHB”) (3)	40		189	40		193

Unicom AirNet (Beijing) Network Co., Ltd. (“Unicom AirNet”) (4)	39		9,894	39		6,830

Less: impairment on equity method investments:
Hezhong Chuangjin (2)			(1,987)			(1,983)
LMHB (3)			(189)			(191)

Equity method investments, net		$	11,844		$	8,170

(1)

In March 2008, the Group entered into a definitive agreement with China Eastern Media Corporation, Ltd., a subsidiary of China Eastern Group and China Eastern Airlines Corporation Limited operating the media resources of China Eastern Group, to establish a joint venture, BEMC. BEMC was incorporated on March 18, 2008 in the PRC with China Eastern Media Corporation and the Group holding 51% and 49% equity interest, respectively. BEMC obtained concession rights of certain media resources from China Eastern Group, including the digital TV screens on airplanes of China Eastern Airlines, and paid concession fees to its shareholders as consideration. The investment was accounted for using the equity method of accounting as the Group has the ability to exercise significant influence to the operation of BEMC. The Group recognized gains of $562, $197 and a loss of $57 on this investment for the years ended December 31, 2019, 2020 and 2021, respectively.

(2)

In May 2015, the Group, together with several other third-party companies established Hezhong Chuangjin, which mainly focuses on internet financing. The investment was accounted for using the equity method of accounting as the Group has the ability to exercise significant influence to the operation of Hezhong Chuangjin. The operation has been ceased from December 2017, and the investment has been provided full impairment as of December 31, 2017. In 2019, Hezhong Chuangjin was deregistered.

7. LONG-TERM INVESTMENTS, NET - continued

(3)

In September 2015, AirNet Online entered into an agreement with BlueFocus Wireless Internet (Beijing) Investment Management Co., Ltd. and two individual investors to establish a joint venture, LMHB. LMHB is mainly engaged in investment management of Wi-Fi platform marketing and other mobile internet industries. The investment fully impaired as of December 31, 2018.

(4)

On February 22, 2017, AirNet Online established Unicom AirNet, jointly with Unicom Broadband Online Co., Ltd. and Chengdu Haite Kairong Aeronautical Technology Co., Ltd., a wholly owned subsidiary of a listed company providing aeronautical technical services. Pursuant to a capital contribution agreement entered into by the relevant parties, AirNet Online invested RMB117.9 million in Unicom AirNet. After this transaction, AirNet Online currently holds 39% of equity interests in Unicom AirNet. The investment was accounted for using the equity method of accounting as the Group has the ability to exercise significant influence over the operations of Unicom AirNet. The Group recorded its share of the loss of Unicom AirNet of $2,720 and $2,945 for the years ended December 31, 2020 and 2021, respectively.

Schedule of Cost Method Investments


	As of December 31,
	2020			2021
	Percentage			Percentage
	of			of
Name of company	ownership	Amount		ownership	Amount
	%			%
Zhangshangtong Air Service (Beijing) Co., Ltd. ("Zhangshangtong") (1)	20	$	—	20	$	—

Beijing Zhongjiao Huineng Information Technology Co., Ltd (“Zhongjiao Huineng”) (2)	13		576	13		589

AM Advertising (3)	20		81,583	20		83,534

Less: impairment
Zhangshangtong (1)			—			—
Zhongjiao Huineng (2)			(576)			(589)
AM Advertising (3)			(50,932)			(52,150)

Equity investments without readily determinable fair values, net		$	30,651		$	31,384

(1)

In June 2010, the Group acquired 20% equity interest in Zhangshangtong Air Service (Beijing) Co., Ltd. ("Zhangshangtong"), a company established in the PRC that is mainly engaged in air tickets agency services. A full impairment loss was provided as of December 31, 2018. On June 22, 2020, the Group disposed this investment and received a consideration amounted to RMB 0.35 million. Therefore, the cost and accumulated impairment were written off as of December 31, 2020.

7. LONG-TERM INVESTMENTS, NET - continued

(2)	In January 2016, the Group acquired 13.3% equity interest in Zhongjiao Huineng, a company established in the PRC that is mainly engaged in providing WIFI and GPS service to logistic industry. A full impairment loss was provided as of December 31, 2018.

(3)

The investment in AM Advertising was accounted for using the cost method of accounting, as the Group does not have the ability to exercise significant influence to the operation from 2016. In December 2018, the Group transferred the 20.32% equity interests in AM Advertising but did not derecognize this long-term investment considering the existence of continuing involvement and more than trivial benefit owned by the Group. Meanwhile the Group determined the fair value of this investment in AM Advertising according to the transaction price received, which became the new basis of the investment. Hence, the investment impairment loss of $50,159 in AM Advertising was recorded for the year ended December 31, 2018 and the accumulated impairment was $47,736 as of December 31, 2019 and $50,932 as of December 31, 2020, due to changes from foreign currency translation adjustment. As of October 30, 2019, the Group and the transferee entered into a supplementary agreement on the outstanding amount of RMB380 million. The Group assessed that the supplementary agreement cannot trigger the derecognition of AM Advertising as of December 31, 2020 and 2021.

OTHER CURRENT ASSETS, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Gross	$ 66,380	$ 90,556
Allowance	(34,846)	(57,956)
Net	31,534	32,600
Stock subscriptions receivable
Gross	155	2,531
Net	155	2,531
Receivable from third party
Gross	27,107	45,578
Allowance	(21,862)	(42,661)
Net	5,245	2,917
Receivable from non-controlling interest holders
Gross	736	1,069
Allowance	(736)	(1,069)
Receivable from AM Advertising and its subsidiaries
Gross	23,257	23,947
Allowance	(8,545)	(9,259)
Net	14,712	14,688
Other prepaid expenses
Gross	4,223	6,158
Allowance	(3,089)	(4,504)
Net	1,134	1,654
Others
Gross	50	64
Net	50	64
Short-term deposits
Gross	3,980	5,110
Net	3,980	5,110
Input VAT receivable
Gross	5,379	5,162
Net	5,379	5,162
Prepaid selling and marketing fees
Gross	983	292
Allowance	(448)	(133)
Net	535	159
Prepaid income tax
Gross		248
Allowance		(201)
Net		47
Prepaid individual income tax and other employee advances
Gross	510	397
Allowance	(166)	(129)
Net	$ 344	$ 268

SEGMENT INFORMATION AND REVENUE ANALYSIS (Tables)

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION AND REVENUE ANALYSIS

Summary of reportable segment's revenue and income


	For the year ended December 31, 2019
	Media			Cryptocurrency
	Network			mining		Subtotal			Other		Consolidated
Revenues from external customers	$	26,225		$	—	$	26,225		$	—	$	26,225
Depreciation and amortization	$	(1,018)		$	—	$	(1,018)		$	—	$	(1,018)
Segment loss before tax	$	(7,565)		$	—	$	(7,565)		$	—	$	(7,565)
Segment gross profit margin		(29)	%		—		(29)	%		—		(29)	%

3. SEGMENT INFORMATION AND REVENUE ANALYSIS - continued


	For the year ended December 31, 2020
	Media			Cryptocurrency
	Network			mining		Subtotal			Other		Consolidated
Revenues from external customers	$	23,546		$	—	$	23,546		$	—	$	23,546
Depreciation and amortization	$	(1,334)		$	—	$	(1,334)		$	—	$	(1,334)
Segment income before tax	$	3,846		$	—	$	3,846		$	—	$	3,846
Segment gross profit margin		16	%		—		16	%		—		16	%


	For the year ended December 31, 2021
	Media			Cryptocurrency
	Network			mining			Subtotal			Other		Consolidated
Revenues from external customers	$	9,192		$	2,604		$	11,796		$	—	$	11,796
Depreciation and amortization	$	(1,191)		$	(2,763)		$	(3,954)		$	—	$	(3,954)
Segment loss before tax	$	(2,822)		$	(276)		$	(3,098)		$	—	$	(3,098)
Segment gross profit margin		(31)	%		(11)	%		(26)	%		—		(26)	%

NET INCOME(LOSS) PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

NET INCOME(LOSS) PER SHARE

Schedule of the Calculation of Net Loss per Share


	For the years ended December 31,
	2019		2020		2021

Numerator:
Net income (loss) attributable to AirNet Technology Inc.'s ordinary shareholders	$	(31,477)	$	7,527	$	(17,335)

Denominator:
Weighted average ordinary shares outstanding used in computing net (loss) income per ordinary share
Basic and diluted (i)		125,664,777		125,795,606		175,628,125
Weighted average shares used in calculating (loss) income per ADS
Basic and diluted		12,566,478		12,579,561		17,562,812

Net (loss) income per ordinary share
Basic and diluted	$	(0.25)	$	0.06	$	(0.10)

Net (loss) income per ADS (ii)
Basic and diluted	$	(2.50)	$	0.60	$	(0.99)

(i)

On December 30, 2020, the Company entered into an investment agreement (the "Agreement") with Unistar Group Holdings Ltd. ("Unistar"), an unaffiliated party of the Company. Pursuant to the Agreement, the Company has agreed to issue 23,876,308 ordinary shares (each a "Share"), or approximately 19 % of the Company's currently outstanding ordinary shares, to Unistar, in exchange for the delivery and transfer by Unistar to the Company of 500 computer servers specifically designed for mining cryptocurrencies. The computer servers were valued at $2,531, representing a per Share consideration of US$0.106, or US$1.06 per American depositary share of the Company (each representing ten ordinary shares). On February 4, 2021, the Company entered into an investment agreement (the “Agreement”) with Northern Shore Group Ltd. (“Northern Shore”), an unaffiliated party of the Company. Pursuant to the Agreement, the Company has agreed to issue 28,412,806 ordinary shares, or approximately 19% of the Company’s outstanding shares as of December 31, 2020, to Northern Shore, in exchange for the delivery and transfer from Northern Shore to the Company of computer servers specifically designed for mining cryptocurrencies. The computer servers are valued at $5,540, representing a per share consideration of US$0.315, or US$3.15 per American depositary share of the Company (each representing ten ordinary shares).

(ii)

On March 29, 2019, AirNet Technology Inc., JPMorgan Chase Bank, as depositary, and all holders from time to time of American Depositary Shares entered into Amended and Restated Deposit Agreement to combine original 5 ADSs to 1 ADSs. After the agreement is executed, 1 ADS amounted to $0.01 par value represents 10 ordinary shares amounted to 0.001 per share par value. The Group presents net income (loss) attributable to AirNet Technology Inc.’s ordinary shareholders per ADS by retrospectively adjusting to all periods presented.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2021

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consist of the following:


	As of December 31,
	2020		2021
Wi-Fi and network equipment	$	32,893	$	18,544
Office property		11,473		11,747
Software		10,311		10,558
Digital display network equipment		7,046		5,882
Computer and office equipment		2,937		12,671
Leasehold improvement		2,556		2,769
Furniture and fixture		914		785
Vehicle		777		586
Total original costs		68,907		63,542
Less: impairment		(26,262)		(16,353)
Less: accumulated depreciation		(29,852)		(28,067)
Construction in progress		690		180
Less: impairment on construction in process		(600)		—

Total property and equipment, net	$	12,883	$	19,302

Depreciation expense for the years ended December 31, 2019, 2020 and 2021 were $1,018, $1,334 and $3,954, respectively. Impairment loss recorded for the years ended December 31, 2019, 2020 and 2021 were all nil.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2021

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

9. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the follows:


	As of December 31,
	2020		2021
Accrued payroll and welfare	$	1,907	$	1,833
Other tax payable		284		55
Accrued staff disbursement		1,598		1,048
Deposit payable		95		27
Accrued professional fees		191		—
Other current liabilities (i)		19,743		6,406
Other accrued expenses		584		326
	$	24,402	$	9,695

(i)

The other current liabilities mainly consist of other payables to third parties of $15,327 that was financed from two third parties for the purpose of capital turnover for operation. The cash received from the other payable to third parties of $15,327 was pledged for certificated deposits in the banks as of December 31, 2020 as the Group need to undertake the guarantee responsibility, and the full amount therein was repaid to one of the third parties in 2021. It also consisted of the amounts due to AM Advertising and its subsidiaries mainly represent the borrowings from AM Advertising and its subsidiaries for the purpose of operation.

COMMITMENTS - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
COMMITMENTS
Concession fees	$ 137

RESTRICTED NET ASSETS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
RESTRICTED NET ASSETS
Restricted net assets	$ 371,931	$ 376,387
Restricted assets attributable to VIEs	150,103	159,740
Statutory reserves	$ 221,828	$ 216,647

LEASE

12 Months Ended

Dec. 31, 2021

LEASE

LEASE

8. LEASE

The Group leases offices space under non-cancelable operating leases, with terms ranging from one to three years. The Group considers those renewal or termination options that are reasonably certain to be exercised in the determination of the lease term and initial measurement of right of use assets and lease liabilities. Lease expense for lease payment is recognized on a straight-line basis over the lease term. Leases with initial term of 12 months or less are not recorded on the balance sheet.

The Group determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Group uses the rate implicit in the lease to discount lease payments to present value; however, most of the Group’s leases do not provide a readily determinable implicit rate. Therefore, the Group discount lease payments based on an estimate of its incremental borrowing rate.

The Group's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Supplemental balance sheet information related to operating lease was as follows:


	As of December 31,
	2020		2021
Right-of-use assets	$	683	$	18

Lease liabilities - current	$	1,002	$	8
Lease liabilities - non-current		3		13
Total lease liabilities	$	1,005	$	21

The weighted average remaining lease terms and discount rates for the operating lease were as follows as of December 31, 2021:

8. LEASE - continued


Remaining lease term and discount rate:

Weighted average remaining lease term (years)	1.21
Weighted average discount rate	7.5	%

For the years ended December 31, 2020 and 2021, the Group incurred lease expenses as follows.


	For the year ended December 31,
	2020		2021
Operating lease cost	$	989	$	717
Short-term lease cost		32		—
Total	$	1,021	$	717

The following is a schedule, by fiscal years, of maturities of lease liabilities as of December 31, 2021:


2022	$	15
2023		7
Total lease payments		22
Less: imputed interest		(1)
Present value of lease liabilities	$	21

INCOME TAXES - Schedule of Income Tax (Expenses)/Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax expenses:
Current	$ 284	$ 830	$ 691
Deferred		0
Income tax benefit due to reverse of UTP	0	(11,065)	0
Income tax expenses (benefit), Net	$ 284	$ (10,235)	$ 691

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SHARE BASED PAYMENTS - Schedule of Stock Option Activities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of options
Outstanding as of January 1, 2021	6,540,000
Granted	0	0	0
Exercised	0
Forfeited	0
Expired	0
Options outstanding as of December 31, 2021	6,540,000	6,540,000
Options vested and expected to vest as of December 31, 2021	6,540,000
Options exercisable as of December 31, 2021	4,152,490
Weighted average exercise price per option
Outstanding as of January 1, 2021	$ 0.44
Granted	0
Exercised	0
Forfeited	0
Expired	0
Outstanding as of December 31, 2021	0.44	$ 0.44
Options vested and expected to vest as of December 31, 2021	0.44
Options exercisable as of December 31, 2021	0.53
Weighted average grant-date fair value
Outstanding as of January 1, 2021	0.35
Granted	0
Exercised	0
Forfeited	0
Expired	0
Outstanding as of December 31, 2021	0.35	$ 0.35
Options vested and expected to vest as of December 31, 2021	0.35
Options exercisable as of December 31, 2021	$ 0.53
Weighted average remaining contractual terms
Outstanding	1 year 6 months 10 days	2 years 6 months 10 days
Options vested and expected to vest as of December 31, 2021	1 year 6 months 10 days
Options exercisable as of December 31, 2021	1 year 2 months 12 days
Aggregate intrinsic value
Outstanding	$ 0	$ 0
Options vested and expected to vest as of December 31, 2021	0
Options exercisable as of December 31, 2021	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of Estimated Useful Lives of Property and Equipment


Digital display network equipment		5 years
Furniture and fixture		5 years
Computer and office equipment		3‑5 years
Vehicle		5 years
Software		5 years
Office property		40 years
Leasehold improvement		Shorter of the term of the lease
		or the estimated useful lives of the assets

Schedule of Revenues by Service Categories

Revenue by service categories


	For the years ended December 31,
	2019		2020		2021
Revenues from operations:
Air Travel Media Network	$	25,954	$	23,474	$	9,191
Cryptocurrency Mining		—		—		2,604
Other Media		271		72		1
	$	26,225	$	23,546	$	11,796

RESTRICTED NET ASSETS

12 Months Ended

Dec. 31, 2021

RESTRICTED NET ASSETS

RESTRICTED NET ASSETS

17. RESTRICTED NET ASSETS

Relevant PRC laws and regulations restrict the WFOEs, VIEs and VIEs’ subsidiaries from transferring a portion of their net assets, equivalent to the balance of their paid-in-capital, additional paid-in-capital and statutory reserves to the Group in the form of loans, advances or cash dividends. Relevant PRC statutory laws and regulations restrict the payments of dividends by the Group’s PRC subsidiaries and VIEs and VIEs’ subsidiaries from their respective retained earnings, if any, as determined in accordance with PRC accounting standards and regulations.

As of December 31, 2020, the balance of restricted net assets was $376,387, of which $159,740 was attributed to the paid-in-capital, additional paid-in-capital and statutory reserves of the VIEs and VIEs' subsidiaries, and $216,647 was attributed to the paid in capital, additional paid-in-capital and statutory reserves of WFOE. As of December 31, 2021, the balance of restricted net assets was $371,931, of which $150,103 was attributed to the paid-in-capital, additional paid-in-capital and statutory reserves of the VIEs and VIEs' subsidiaries, and $221,828 was attributed to the paid in capital, additional paid-in-capital and statutory reserves of WFOE. Under applicable PRC laws, loans from PRC companies to their offshore affiliated entities require governmental approval, and advances by PRC companies to their offshore affiliated entities must be supported by bona fide business transactions.

OTHER CURRENT ASSETS, NET (Details) (Parenthetical) $ in Thousands, ¥ in Millions		12 Months Ended
	Dec. 30, 2020 USD ($) shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2015	Dec. 31, 2021 CNY (¥)
Gross		$ 66,380	$ 90,556
Shares issued to purchase computer servers \| shares	23,876,308
Value of shares issued to purchase computer servers	$ 2,531	8,950	2,531
Loans to third parties		$ 6,723	$ 40,391
Debt instrument interest rate		5.00%	4.35%		5.00%
Sale of equity interest, percentage				75.00%
AM Advertising [Member]
Loans and Leases Receivable, Allowance		$ 8,545	$ 9,259
Am Advertising And Its Subsidiaries Current Assets		23,257	23,947
Third Parties Loan [Member]
Loans and Leases Receivable, Allowance		6,699	40,244
Shareholder Loan [Member]
Debt Instrument, Face Amount \| ¥					¥ 88.0
Input VAT receivable
Increase in input VAT receivable		217
Gross		$ 5,379	$ 5,162

LEASE - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 15
2023	7
Total	22
Less: imputed interest	(1)
Present value of lease liabilities	$ 21	$ 1,005

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

(a) Basis of presentation

The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP").

Going concern

(b) Going concern

The Group has a history of operating losses and negative operating cash flows and has negative working capital of $68,308 as of December 31, 2021.These conditions raise substantial doubt about the Group’s ability to continue as a going concern.

The Group plans to restructure their business by selling the air travel media network business to its CEO, Mr. Man Guo, and then focus on cryptocurrency mining. The sale of the air travel media network business has not been determined as of the date of the issuance of these financial statements.

As a result, management prepared the consolidated financial statements assuming the Group will continue as a going concern. However, there is no assurance that the measures above can be achieved as planned. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis of consolidation

(c) Basis of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and its VIEs’ subsidiaries. All inter-company transactions and balances have been eliminated upon consolidation.

Use of estimates

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(d) Use of estimates

The preparation of financial statements in conformity with US GAAP requires to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period and accompanying notes, including allowance for doubtful accounts, the useful lives of property and equipment, impairment of long-term investments, impairment of long-lived assets, share-based compensation and valuation allowance for deferred tax assets. Actual results could differ from those estimates.

Significant risks and uncertainties

(e) Significant risks and uncertainties

The Group participates in a dynamic industry and believes that changes in any of the following areas could have a material adverse effect on the Group’s future financial position, results of operations, or cash flows: net losses in the past and futures; failure in launching new business; a significant or prolonged economic downturn; contraction in the air travel advertising industry in China; competition from other competitors; regulatory or other PRC related factors; fluctuations in the demand for air travel; past and future acquisitions; failure to maintain an effective system of internal control over financial reporting and effective disclosure controls and procedures; risks associated with the Group’s ability to attract and retain employees necessary to support its growth; risks associated with the Group’s growth strategies; and general risks associated with the industry.

Fair value

(f) Fair value

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date under current market conditions. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.

Authoritative literature provides a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(f) Fair value - continued

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Fair value of financial instruments

(g) Fair value of financial instruments

The Group’s financial instruments include cash, accounts receivable, cryptocurrency, amount due from related parties, amount due to related parties and accounts payable. The Group did not have any other financial assets and liabilities or nonfinancial assets and liabilities that are measured at fair value on recurring basis as of December 31, 2020 and 2021.

The Group’s financial assets and liabilities measured at fair value on a non-recurring basis include equity investment and long-lived assets based on level 2 or 3 inputs.

Cash and cash equivalents

(h) Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and highly liquid deposits which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased.

Restricted cash

(i) Restricted cash

Restricted cash consists of certificates of deposits pledged for loans from third parties. As of December 31, 2021, the pledged amount was $15,327 and nil for a litigation matter as disclosed in Note 19 (b). The pledged amount for certificated deposits of $15,327 was financed from proceeds received from two third parties under a short-term loan arrangement. In 2021 the Group repaid all the amount to the third parties.

Cryptocurrencies

(j) Cryptocurrencies

Cryptocurrencies are included in current assets in the accompanying consolidated balance sheets. Cryptocurrencies awarded to the Group through its mining activities are accounted for in connection with the Group's revenue recognition policy disclosed below.

Cryptocurrencies held are accounted for as intangible assets with indefinite useful lives. An intangible asset with an indefinite useful life is not amortized but assessed for impairment annually, or more frequently, when events or changes in circumstances occur indicating that it is more likely than not that the indefinite-lived asset is impaired. Impairment exists when the carrying amount exceeds its fair value, which is measured using the quoted price of the cryptocurrency at the time its fair value is being measured. In testing for impairment, the Group has the option to first perform a qualitative assessment to determine whether it is more likely than not that an impairment exists. If it is determined that it is not more likely than not that an impairment exists, a quantitative impairment test is not necessary. If the Group concludes otherwise, it is required to perform a quantitative impairment test. To the extent an impairment loss is recognized, the loss establishes the new cost basis of the asset. Subsequent reversal of impairment losses is not permitted.

Cryptocurrencies awarded to the Group through its mining activities are included within operating activities on the accompanying consolidated statements of cash flows. The sales of cryptocurrencies are included within investing activities in the accompanying consolidated statements of cash flows and any realized gains or losses from such sales are included in other income (expense) in the consolidated statements of operations. The Group accounts for its gains or losses in accordance with the first in first out (FIFO) method of accounting.

Allowance of doubtful accounts

(k) Allowance for doubtful accounts

The Group adopted ASC 326 Financial Instruments – Credit Losses using the modified retrospective approach through a cumulative-effect adjustment to accumulated deficit. Management used an expected credit loss model for the impairment of trading receivables as of period ends. Management believes the aging of accounts receivable is a reasonable parameter to estimate expected credit loss, and determines expected credit losses for accounts receivables using an aging schedule as of period ends. The expected credit loss rates under each aging schedule were developed on basis of the average historical loss rates from previous years, and adjusted to reflect the effects of those differences in current conditions and forecasted changes. Management measured the expected credit losses of accounts receivable on a collective basis. When an accounts receivable does not share risk characteristics with other accounts receivables, management will evaluate such accounts receivable for expected credit loss on an individual basis. Doubtful accounts balances are written off and deducted from allowance, when receivables are deemed uncollectible, after all collection efforts have been exhausted and the potential for recovery is considered remote.

Property and equipment, net

(l) Property and equipment , net

Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives:


Digital display network equipment		5 years
Furniture and fixture		5 years
Computer and office equipment		3‑5 years
Vehicle		5 years
Software		5 years
Office property		40 years
Leasehold improvement		Shorter of the term of the lease
		or the estimated useful lives of the assets

Costs of repairs and maintenance are expensed as incurred and asset improvements that extend the useful life are capitalized. The gain or loss on disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated income statement. When property and equipment are retired or otherwise disposed of the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period.

Impairment of long-lived assets

(m) Impairment of long-lived assets

Long-lived assets held and used by the Group are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be fully recoverable. It is possible that these assets could become impaired as a result of technology, economy or other industry changes. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Group first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, relief from royalty income approach, quoted market values and third-party independent appraisals, as considered necessary.

The Group makes various assumptions and estimates regarding estimated future cash flows and other factors in determining the fair values of the respective assets. The assumptions and estimates used to determine future values and remaining useful lives of long-lived assets are complex and subjective. They can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as the Group’s business strategy and its forecasts for specific market expansion.

As of December 31, 2021, the net carrying amount of long-lived assets consisted of right of use asset of $18 and property and equipment of $19,302. The property and equipment mainly included office building located in the center of Beijing of $10,383 , and computers for cryptocurrency mining and other office equipment of $6,600.

Long-term investments

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(n) Long-term investments

Equity method investments

Investee companies over which the Group has the ability to exercise significant influence, but does not have a controlling interest are accounted for using the equity method. Significant influence is generally considered to exist when the Group has an ownership interest in the voting stock of the investee between 20% and 50%, and other factors, such as representation on the investee’s Board of Directors, voting rights and the impact of commercial arrangements, are considered in determining whether the equity method of accounting is appropriate.

Equity investments without readily determinable fair values

For investments in an investee over which the Group does not have significant influence, the Group carries the investment at cost and recognizes income as any dividends declared from distribution of investee’s earnings. The Group reviews the equity investments without readily determinable fair values for impairment whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable. An impairment loss is recognized in earnings equal to the difference between the investment’s carrying amount and its fair value at the balance sheet date of the reporting period for which the assessment is made. All equity investments, except those accounted for under the equity method of accounting or those resulting in the consolidation of the investee, be accounted for at fair value with all fair value changes recognized in income. For equity investments that do not have readily determinable fair values the Group measures the equity investment at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the Group.

Impairment for long-term investments

The Group assesses its long-term investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the companies, including current earnings trends and undiscounted cash flows, and other company-specific information. The fair value determination, particularly for investments in privately-held companies, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and determination of whether any identified impairment is other-than-temporary. Other-than-temporary impairment loss is recognized in the consolidated statements of comprehensive income equal to the excess of the investment’s carrying value over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value would then become the new cost basis of such investment.

Leases

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(o) Leases

In February 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-02, Leases (Topic 842), which is effective for annual reporting periods (including interim periods) beginning after December 15, 2018, and early adoption is permitted. The Group has adopted the Topic 842 on January 1, 2019 using a modified retrospective approach reflecting the application of the standard to leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements.

The Group leases its offices, which are classified as operating leases in accordance with Topic 842. Under Topic 842, lessees are required to recognize the following for all leases (with the exception of short-term leases) on the commencement date: (i) lease liability, which is a lessee's obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) right-of-use asset, which is an asset that represents the lessee's right to use, or control the use of, a specified asset for the lease term.

At the commencement date, the Group recognizes the lease liability at the present value of the lease payments not yet paid, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group's incremental borrowing rate for the same term as the underlying lease. The right-of-use asset is recognized initially at cost, which primarily comprises the initial amount of the lease liability, plus any initial direct costs incurred, consisting mainly of brokerage commissions, less any lease incentives received. All right-of-use assets are reviewed for impairment. No impairment for right-of-use lease assets as of December 31, 2021.

The Group's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Revenue recognition

(p) Revenue recognition

On January 1, 2018, the Group adopted ASC Topic 606, “Revenue from Contracts with Customers”, applying the modified retrospective method. The adoption did not result in a material adjustment to the accumulated deficit as of January 1, 2018.

In accordance with ASC Topic 606, revenues are recognized when control of the promised goods or services is transferred to the Group’s customers, in an amount that reflects the consideration the Group expects to be entitled to in exchange for those goods or services. In determining when and how much revenue is recognized from contracts with customers, the Group performs the following five-step analysis: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation.

The Group’s contract with customers do not include multiple performance obligations, significant financing component and any variable consideration.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

The Group is a principal as it controls the specified good or service before that good or service is transferred to a customer. The Group is primarily responsible for fulfilling the promise to provide the specified good or service, has inventory risk before the specified good or service has been transferred to a customer and has discretion in establishing the price for the specified good or service.

Generally, the Group recognizes revenue under ASC Topic 606 for each type of its performance obligation either over time (generally, the transfer of a service) or at a point in time (generally, the transfer of content) as follows:

The Group’s revenues are mainly derived from selling advertising time slots on the Group’s advertising networks and cryptocurrency mining.

Revenue by service categories


	For the years ended December 31,
	2019		2020		2021
Revenues from operations:
Air Travel Media Network	$	25,954	$	23,474	$	9,191
Cryptocurrency Mining		—		—		2,604
Other Media		271		72		1
	$	26,225	$	23,546	$	11,796

Air Travel Media Network: Revenues are generated from advertising and programming on airplanes. There are also other revenues from the display of media content in air travel.

For the advertising business, the Group typically signs standard contracts with its advertising clients, who require the Group to run the client's advertisements for a fixed fee on airlines the Group's contracts with for a specified time period. The Group recognizes advertising revenues ratably over the service period for which the advertisements are displayed, so long as collection remains probable.

The Group also generates revenue from programs that are run on airlines for a period of time. The Group signs standard contracts with the customer who has the copyright of movies or TV programs and requires the Group to play the program for a fixed fee on airlines for a specified time The Group recognizes program display revenues ratably over the performance period for which the program is played, so long as collection remains probable.

It also consisted the revenue through other media network such as on-train and on long-haul bus Wi-Fi network and self-owned and third parties’ public accounts, the Group provides Wechat public account promotion and advertising and promotion articles publishing services. For the public account promotion business, the passengers in the trains could connect to Wi-Fi for free via the Group's Wi-Fi equipment after registered as a member to that public account as a follower in WeChat. The Group charges a fix rate per new member and collects service fee from the client who owns the public accounts.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

Cryptocurrency mining: The Group has entered into digital asset mining pools by executing contracts with the mining pool operators to provide computing power to the mining pool. In exchange for providing computing power, the Group is entitled to a fractional share of the fixed cryptocurrency award the mining pool operator receives for successfully adding a block to the blockchain. The Group’s fractional share is based on the proportion of computing power the Group contributed to the mining pool operator to the total computing power contributed by all mining pool participants in solving the current algorithm.

The provision of providing such computing power is the only performance obligation in the Group’s contracts with mining pool operators. The transaction consideration the Group receives, if any, is noncash consideration, which the Group measures at fair value on the date received, which is not materially different than the fair value at contract inception or the time the Group has earned the award from the pools. The consideration is all variable. Because it is not probable that a significant reversal of cumulative revenue will not occur, the consideration is constrained until the mining pool operator successfully places a block and the Group receives confirmation of the consideration it will receive, at which time revenue is recognized. There is no significant financing component in these transactions.

Fair value of the cryptocurrency award received is determined using the quoted price of the related cryptocurrency at the time of receipt. There is currently no specific definitive guidance under GAAP or alternative accounting framework for the accounting for cryptocurrencies recognized as revenue or held, and management has exercised significant judgment in determining the appropriate accounting treatment. In the event authoritative guidance is enacted by the FASB, the Group may be required to change its policies, which could have an effect on the Group’s consolidated financial position and results from operations.

For the advertising and promotion articles publishing business, the group has developed a public accounts pool which have already accumulated hundreds and thousands of registered users (there are both self-owned and third parties’ public accounts). Wechat public account promotion through on-train Wi-Fi network was ceased in 2019 and no revenue was generated from Wechat public account promotion through Wi-Fi network in following years. The Group still generated immaterial revenue in other self-owned and third parties' public accounts.

Deferred revenue

Prepayments from customers for advertising service are deferred when corresponding performance obligation is not satisfied and recognized as revenue when the advertising services are rendered. The balance of deferred revenue as of December 31, 2021 is $3,428, the majority of which is $1,776 for the unsatisfied performance obligation with two customers with contracts amount of $1,874.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

Nonmonetary exchanges

The Group occasionally exchanges advertising time slots and locations with other entities for assets or services, such as equipment and other assets. The amount of assets and revenue recognized is based on the fair value of the advertising provided or the fair value of the transferred assets, whichever is more readily determinable. In 2019, the Group provided advertising time slots and locations to SINOPEC Yijie Sales Co., Ltd. (“Yijie”) as a part of settlement of the concession fee due to Yijie and recognized revenue of $792. In addition, the Group provided gas station display network equipment to settle the concession fee of $3,678 due to Yijie.

In 2019 the Group also entered into a contract with Beijing Kingsoft Co., Ltd.(“Kingsoft”) to provide advertising services in exchange for office software and recognized revenue of $431. As of December 31, 2019, the Group has received the office software and accounted it as property and equipment, while a deferred revenue was accrued in the meantime as the agreed advertising services has not been provided. As of December 31, 2020, the advertising services have not been provided as Kingsoft did not require the advertising service considering the low efficiency of advertisement due to the impact from COVID-19. No direct costs are attributable to the revenues. There were no revenue recognized for nonmonetary transactions for the years ended December 31, 2020 and 2021.

Value Added Tax ("VAT")

(q) Value Added Tax ("VAT")

The Company’s PRC subsidiaries are subject to value-added taxes at a rate of 6% on revenues and paid after deducting input VAT on purchases. The net VAT balance between input VAT and output VAT is reflected in the account as input VAT receivable or other taxes payable. The Group’s gross revenue is presented net of VAT. As of December 31, 2021, the Group assessed the recoverability of estimated input VAT that was generated in prior year and recognized a cost of non-deductible input VAT that was generated in prior years of $521 for the year ended December 31, 2021.

Concession fees

(r) Concession fees

The Group enters concession right agreements with vendors such as airlines and railway bureaus, under which the Group obtains the right to use the spaces or equipment of the vendors to display the advertisements.

Fees under concession right agreements are usually due every three, six or twelve months. Payments made are recorded as current assets and current liabilities according to the respective payment terms. Most of the concession fees with airlines and railway bureaus are fixed with escalation, which means a fixed increase over each year of the agreements. The total concession fee under the concession right agreements with airlines is charged to the consolidated statements of operations on a straight-line basis over the agreement periods, which is generally between three to five years.

Agency fees and Advertisement Publishing Fees

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s) Agency fees and Advertisement Publishing Fees

The Group pays fees to advertising agencies for identifying and introducing advertisers to the Group and assisting in advertisement publishing based on a certain percentage of revenues made through the advertisement agencies upon receipt of payment from advertisers. The agency fees and advertisement publishing fees are charged to cost of revenues in the consolidated statements of operations ratably over the period in which the advertisement is displayed. Prepaid and accrued agency fees and advertisement publishing fees are recorded as current assets and current liabilities according to relative timing of payments made and advertising service provided.

Advertising costs

(t) Advertising costs

The Group expenses advertising costs as incurred. Total advertising expenses were $622, $201 and $143 for the years ended December 31, 2019, 2020 and 2021, respectively, and have been included as part of selling and marketing expenses.

Foreign currency translation

(u) Foreign currency translation

The functional and reporting currency of the Company and the Company’s subsidiaries domiciled in BVI and Hong Kong are the United States dollar ("U.S. dollar"). The financial records of the Company’s other subsidiaries, VIEs and VIEs’ subsidiaries located in the PRC are maintained in their local currency, the Renminbi ("RMB"), which are the functional currency of these entities.

(u) Foreign currency translation - continued

Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into functional currency at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains and losses are recognized in the statements of operations.

The Group’s entities with functional currency of RMB translate their operating results and financial position into the U.S. dollar, the Company’s reporting currency. Assets and liabilities are translated using the exchange rates in effect on the balance sheet date. Revenues, expenses, gains and losses are translated using the average rate for the year. Retained earnings and equity are translated using the historical rate. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Income taxes

(v) Income taxes

Deferred income taxes are recognized for temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements, net operating loss carry forwards and credits, by applying enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws and regulations applicable to the Group as enacted by the relevant tax authorities.

The impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than not to be sustained upon audit by the relevant tax authorities. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, the Group classifies the interest and penalties, if any, as a component of the income tax expense. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB 100 thousand. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. According to Hong Kong Inland Revenue Department, the statute of limitation is six years if any company chargeable with tax has not been assessed or has been assessed at less than the proper amount, the statute of limitation is extended to 10 years if the underpayment of taxes is due to fraud or willful evasion.

The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2021, the Group had no uncertain tax positions that if recognized would affect the annual effective tax rate.

The Group is not currently under examination by any income taxing authority, nor has it been notified of an impending examination. As of December 31, 2021, tax years 2017 to present are subject to examination by the tax authorities.

Share-based payments

(w) Share-based payments

Share-based payment transactions with employees are measured based on the grant date fair value of the equity instrument issued, and recognized as compensation expenses over the requisite service periods based on a straight-line method, with a corresponding impact reflected in additional paid-in capital.

Share-based payment transactions with non-employees are measured based on the fair value of the options on the measurement date as of each reporting date and recognized as expense over the requisite service periods on a straight-line method subject to adjustments in fair value, with a corresponding impact reflected in additional paid-in capital.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

Comprehensive (loss) income

(x) Comprehensive (loss) income

Comprehensive (loss) income includes net (loss) income and foreign currency translation adjustments and is presented net of tax. The tax effect is nil for the three years ended December 31, 2019, 2020 and 2021 in the consolidated statements of comprehensive (loss) income.

Concentration of credit risk

(y) Concentration of credit risk

Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of cash and accounts receivable. The Group places their cash with financial institutions with high-credit rating and quality in China. For the years ended December 31, 2020 and 2021, there are two and two customers accounting for 10% or more of total revenue, respectively. As of December 31, 2020 and 2021, there are three and three customer accounting for 10% or more of total accounts receivables, respectively.

Net income(loss) per share

(z) Net income(loss) per share

Basic net income (loss) per share are computed by dividing net income(loss) attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year. Diluted net income(loss) reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Potential common shares in the diluted net income(loss) per share computation are excluded in periods of losses, as their effect would be anti-dilutive.

Recent issued accounting standards

(aa) Recent issued accounting standards

Recently issued ASUs by the FASB are not expected to have a material impact on the Group’s consolidated results of operations or financial position.

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Statements of Comprehensive loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other comprehensive loss, net of tax:
Change in cumulative foreign currency translation adjustment	$ 377	$ (384)	$ 381
Comprehensive (loss) income attributable to Parent Company	(16,958)	7,143	(31,096)
Parent Company [Member] \| Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Net (loss) income	(17,335)	7,527	(31,477)
Other comprehensive loss, net of tax:
Change in cumulative foreign currency translation adjustment	377	(384)	381
Comprehensive (loss) income attributable to Parent Company	$ (16,958)	$ 7,143	$ (31,096)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Mar. 29, 2019
CONSOLIDATED BALANCE SHEETS
Common stock, par value per share	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	179,986,169	151,573,363
Common stock, shares outstanding	178,993,449	149,541,085
Treasury stock, shares	992,720	2,032,278

LEASE (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Supplemental balance sheet information
Right-of-use assets	$ 18	$ 683
Lease liabilities - current	8	1,002
Lease liabilities - non-current	13	3
Total lease liabilities	$ 21	$ 1,005
weighted average remaining lease terms and discount rates
Weighted average remaining lease term (years)	1 year 2 months 15 days
Weighted average discount rate	7.50%

ORGANIZATION AND PRINCIPAL ACTIVITIES - Schedule of Companies Subsidiaries and VIE's (Details)	12 Months Ended
	Dec. 31, 2021
Beijing Dongding Gongyi Advertising Co., Ltd. ("Dongding") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Feb. 01, 2010
Entity Place Of Incorporation	the PRC
Guangzhou Meizheng Online Network Technology Co., Ltd. ("Guangzhou Meizheng") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	May 17, 2013
Entity Place Of Incorporation	the PRC
Air Esurfing Information Technology Co., Ltd. ("Air Esurfing") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Sep. 25, 2013
Entity Place Of Incorporation	the PRC
Wangfan Linghang Mobile Network Technology Co., Ltd. ("Linghang") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Apr. 23, 2015
Entity Place Of Incorporation	the PRC
Beijing Wangfan Jiaming Pictures Co., Ltd. ("Wangfan Jiaming") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Dec. 31, 2015
Entity Place Of Incorporation	the PRC
Meizheng Network Information Technology Co., Ltd. ("Meizheng Network") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Aug. 08, 2016
Entity Place Of Incorporation	the PRC
Shandong Airmedia Cheweishi Network Technology Co.,Ltd.("Shangdong Cheweishi ") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jul. 21, 2016
Entity Place Of Incorporation	the PRC
Dingsheng Ruizhi (Beiing) Investment Consulting Co., Ltd. ("Dingsheng Ruizhi" [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	May 25, 2016
Entity Place Of Incorporation	the PRC
Yuehang Sunshine (Beijing) Asset Management Co., Ltd. ("Yuehang Asset") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jan. 18, 2019
Entity Place Of Incorporation	the PRC
Yuehang Zhongying E-commerce Co., Ltd. Zhongying" [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	May 17, 2018
Entity Place Of Incorporation	the PRC
Beijing Airport United Culture Media Co., Ltd. ("Airport United") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jun. 19, 2018
Entity Place Of Incorporation	the PRC
Beijing Linghang Shengshi Advertising Co., Ltd. Linghang Shengsh [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Aug. 07, 2005
Entity Place Of Incorporation	the PRC
Wangfan Network Technology Co., Ltd.("Iwanfan") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	May 06, 2016
Entity Place Of Incorporation	the PRC
Beijing Yuehang Digital Media Advertising Co., Ltd. ("Beijing Yuehang") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jan. 16, 2008
Entity Place Of Incorporation	the PRC
Yuehang Sunshine Network Technology Group Co., Ltd. ("AirNet Online") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Apr. 30, 2015
Entity Place Of Incorporation	the PRC
Beijing AirNet Pictures Co., Ltd. ("AirNet Pictures") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Sep. 13, 2007
Entity Place Of Incorporation	the PRC
Wenzhou Yuehang Advertising Co., Ltd. ("Wenzhou Yuehang") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Oct. 17, 2008
Entity Place Of Incorporation	the PRC
Beijing Wangfan Jiaming Advertising Co.,Ltd. (Formerly Beijing AirMedia Jiaming Advertising Co., Ltd.) [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jan. 01, 2007
Entity Place Of Incorporation	the PRC
Air Joy Media Private Limited ("Air Joy") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Nov. 15, 2019
Entity Place Of Incorporation	Singapore
Blockchain Dynamics Limited [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jan. 11, 2021
Entity Place Of Incorporation	Hong Kong
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Energy Bytes Inc [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jan. 21, 2022
Entity Place Of Incorporation	United States
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Yuehang Chuangyi Technology (Beijing) Co., Ltd. ("Chuangyi Technology") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Sep. 19, 2005
Entity Place Of Incorporation	the PRC
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Shenzhen Yuehang Information Technology Co., Ltd. ("Shenzhen Yuehang") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jun. 06, 2006
Entity Place Of Incorporation	the PRC
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Xi'an Shengshi Dinghong Information Technology Co., Ltd. Xi'an Shengshi [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Dec. 31, 2007
Entity Place Of Incorporation	the PRC
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Broad Cosmos Enterprises Ltd. ("Broad Cosmos") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jun. 26, 2006
Entity Place Of Incorporation	British Virgin Islands ("BVI")
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
AirNet International Limited ("AirNet International") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Jul. 14, 2007
Entity Place Of Incorporation	BVI
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
AirNet (China) Limited ("AN China") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Date Involvement Began	Aug. 05, 2005
Entity Place Of Incorporation	Hong Kong
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%

RELATED PARTY TRANSACTIONS - Schedule of Amount Due from Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Amount due from related parties		$ 27
Increase (Decrease) in Due to Related Parties	$ 0	821	$ 30
Amount due to related parties		1,531
AirMedia Holding Ltd [Member] \| Affiliated Entity [Member]
Related Party Transaction [Line Items]
Amount due from related parties		3
AirMedia Merger Company Ltd [Member] \| Affiliated Entity [Member]
Related Party Transaction [Line Items]
Amount due from related parties		3
Wealthy Environment Limited [Member] \| Principal Shareholder [Member]
Related Party Transaction [Line Items]
Amount due from related parties		1
Global Earning Pacific Ltd. [Member] \| Principal Shareholder [Member]
Related Party Transaction [Line Items]
Amount due from related parties		2
Mambo Fiesta Limited [Member] \| Principal Shareholder [Member]
Related Party Transaction [Line Items]
Amount due from related parties		17
Shanghai Qingxuan Co Ltd [Member] \| Affiliated Entity [Member]
Related Party Transaction [Line Items]
Amount due from related parties		1
Mrs. Dan Shao [Member] \| Principal Shareholder [Member]
Related Party Transaction [Line Items]
Amount due to related parties	$ 0	$ 1,531
Annualized interest rate		21.60%

MAINLAND CHINA CONTRIBUTION PLAN - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
MAINLAND CHINA CONTRIBUTION PLAN
Contribution to employee benefits	$ 1,056	$ 1,088	$ 2,298

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	$ 0	$ 0	$ 0

STATUTORY RESERVES

12 Months Ended

Dec. 31, 2021

STATUTORY RESERVES

STATUTORY RESERVES

16. STATUTORY RESERVES

As stipulated by the relevant law and regulations in the PRC, the Group’s subsidiaries, VIEs and VIEs’ subsidiaries in the PRC are required to maintain non-distributable statutory surplus reserve. Appropriations to the statutory surplus reserve are required to be made at not less than 10% of profit after taxes as reported in the subsidiaries’ statutory financial statements prepared under the PRC GAAP. Once appropriated, these amounts are not available for future distribution to owners or shareholders. Once the general reserve is accumulated to 50% of the subsidiaries’ registered capital, the subsidiaries can choose not to provide more reserves. The statutory reserve may be applied against prior year losses, if any, and may be used for general business expansion and production and increase in registered capital of the subsidiaries. The Group allocated no statutory reserves during the years ended December 31, 2019, 2020 and 2021. The statutory reserves cannot be transferred to the Company in the form of loans or advances and are not distributable as cash dividends except in the event of liquidation.

COMMITMENTS

12 Months Ended

Dec. 31, 2021

COMMITMENTS

COMMITMENTS

18. COMMITMENTS

Concession fees

As of the date of the report, the concession fee payments under non-cancellable concession right agreements for all airlines in 2022 is around $137.

ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2021

ACCOUNTS RECEIVABLE, NET.

ACCOUNTS RECEIVABLE, NET

4. ACCOUNTS RECEIVABLE, NET

Accounts receivable, net, consists of the following:


	As of December 31,
	2020		2021
Accounts receivable, gross	$	14,195	$	5,408
Less: Allowance for doubtful accounts		(3,797)		(3,150)
Accounts receivable, net	$	10,398	$	2,258

Movement of allowance for doubtful accounts is as follows:


	For the years ended December 31,
	2019		2020		2021
Beginning of year	$	5,486	$	5,437	$	3,797
Addition		113		524		234
Reverse		(93)		(144)		(875)
Disposal of subsidiaries		—		(2,276)		—
Exchange rate adjustment		(69)		256		(6)
End of year	$	5,437	$	3,797	$	3,150

SHARE BASED PAYMENTS (Tables)

12 Months Ended

Dec. 31, 2021

SHARE BASED PAYMENTS

Schedule of Stock Option Activities

The following summary of stock option activities for the year ended December 31, 2021:


	Outstanding Options
		Weighted				Weighted
		average		Weighted		average
		exercise		average		remaining	Aggregate
	Number of	price		grant-date		contractual	intrinsic
	options	per option		fair value		terms	value
Outstanding as of January 1, 2022	6,540,000	$	0.44	$	0.35	2.53	$	—
Granted	—		—		—	—		—
Exercised	—		—		—	—		—
Forfeited	—		—		—	—		—
Expired	—		—		—	—		—

Outstanding as of December 31, 2022	6,540,000	$	0.44	$	0.35	1.53	$	—
Options vested and expected to vest as of December 31, 2022	6,540,000	$	0.44	$	0.35	1.53	$	—

Options exercisable as of December 31, 2022	4,152,490	$	0.53	$	0.53	1.20	$	—

Summary of estimated fair value of option granted in 2019 is estimated on the date of grant using the Binomial option-pricing model



Expected volatility	39.90	%
Risk-free interest rate (per annum)	2.13	%
Exercise multiples	2.2
Expected dividend yield	0	%
Expected term (in years)	10
Fair value of the underlying shares on the date of option grants (in US$)	1.23~1.46

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,569	$ 283
Restricted cash	0	15,327
Accounts receivable, net	2,258	10,398
Prepaid concession fees, net	628	0
Other current assets, net	31,534	32,600
Cryptocurrency, less impairment	659	0
Amount due from related parties	0	27
Total current assets	36,648	58,635
Property and equipment, net	19,302	12,883
Long-term investments, net	39,554	42,495
Long-term deposits, net	513	382
Right-of-use assets	18	683
TOTAL ASSETS	96,035	115,078
Current liabilities:
Short-term loan	15,174	5,670
Accounts payable	18,365	22,211
Accrued expenses and other current liabilities	9,695	24,402
Deferred revenue	3,428	2,589
Consideration received from buyer	31,384	30,651
Payable for earnout commitment	23,939	23,380
Amounts due to related parties	0	1,531
Income tax payable	2,963	2,392
Lease liability, current	8	1,002
Total current liabilities	104,956	113,828
Non-current liabilities:
Long-term loan	0	2,605
Lease liability, non-current	13	3
Total liabilities	104,969	116,436
Equity
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 151,573,363 and 179,986,169 shares issued as of December 31, 2020 and 2021, respectively; 149,541,085 and 178,993,449 shares outstanding as of December 31, 2020 and 2021, respectively)	181	152
Additional paid-in capital	298,685	288,879
Treasury stock (2,032,278 and 992,720 shares as of December 31, 2020 and 2021, respectively)	(1,148)	(2,351)
Accumulated deficits	(304,904)	(286,365)
Accumulated other comprehensive income	31,685	31,308
Total AirNet Technology Inc.'s shareholders' equity	24,499	31,623
Non-controlling interests	(33,433)	(32,981)
Total deficit	(8,934)	(1,358)
TOTAL LIABILITIES AND DEFICIT	$ 96,035	$ 115,078

LIABILITIES FOR LITIGATION - Additional Information (Details) $ in Thousands, ¥ in Millions		1 Months Ended		12 Months Ended
	Jun. 27, 2019 CNY (¥)	Jan. 31, 2022 USD ($)	Jan. 31, 2021 USD ($) item	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2016 USD ($)	Sep. 02, 2016	Jun. 29, 2016
Contingent Liability \| $										$ 23,549
Proceeds from Sale of Equity Method Investments \| $				$ 0		$ 0	$ 7,245
Interest Expense, Debt \| ¥					¥ 7.8
Payables of Earnout Commitment \| $				23,939		23,380
Other current assets \| $				$ 31,534		$ 32,600
Settled Litigation [Member]
Settlement of litigation \| $		$ 56,700
Litigation settlement term		10 days
Earnout commitment \| $		$ 152,600
Other current assets \| $		$ 95,900
Linghang Shengshi [Member]
Number of bank accounts frozed \| item			2
Balance in bank account frozen \| $			$ 1
Shareholder Loan [Member]
Debt Instrument, Face Amount \| ¥									¥ 88.0
Longde Wenchuang the Buyer [Member]
Cash Payments \| ¥					56.7
Linghang Shengshi [Member]
Equity interest disposed			75.00%
AM Advertising [Member]
Equity interest retained								20.32%
Disposal Group, Including Discontinued Operation, Consideration \| ¥									¥ 304.5
Variable Interest Entity, Measure of Activity, Operating Income or Loss \| ¥					152.0
Proceeds from Sale of Cost Method Investments \| ¥					¥ 56.7
Cost Method Investment, Sale of Ownership Percentage				20.32	20.32
Loss Contingency Accrual, Provision \| ¥								¥ 152.6
Payment of Settlements \| ¥	¥ 56.7
AM Advertising [Member] \| AirMedia Group Inc [Member]
Equity interest retained								20.18%
Cost Method Investment, Sale of Ownership Percentage				20.18	20.18
AM Advertising [Member] \| Linghang Shengshi [Member]
Equity interest retained												24.84%
AM Advertising [Member] \| Mr. Man Guo [Member]
Cost Method Investment, Sale of Ownership Percentage				0.14	0.14
AM Advertising [Member] \| Longde Wenchuang the Buyer [Member]
Equity interest retained												28.57%
AM Advertising [Member] \| Linghang Shengshi [Member]
Equity interest retained											75.00%
AM Advertising [Member] \| Culture Center [Member]
Equity interest retained												46.43%
AM Advertising [Member] \| Shanghai Golden Bridge InfoTech Co., Ltd. [Member]
Equity interest retained												75.00%

LONG-TERM INVESTMENTS - Schedule of Equity investments without readily determinable fair values (Details) (Parenthetical) ¥ in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
	Jun. 22, 2020 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Oct. 30, 2019 CNY (¥)	Jan. 31, 2016	Jun. 30, 2010
Schedule of Investments [Line Items]
Impairment loss on cost method investments			$ 52,739	$ 51,508
Amount of consideration received for sale of investments			$ 0	$ 0	$ 7,245
Zhangshangtong Air Service (Beijing) Co., Ltd. ("Zhangshangtong") [Member]
Schedule of Investments [Line Items]
Ownership percentage, cost method			20.00%	20.00%				20.00%
Impairment loss on cost method investments				$ 0
Amount of consideration received for sale of investments \| ¥	¥ 350
Beijing Zhongjiao Huineng Information Technology Co., Ltd ("Zhongjiao Huineng") [Member]
Schedule of Investments [Line Items]
Ownership percentage, cost method			13.00%	13.00%			13.30%
Impairment loss on cost method investments			$ 589	$ 576
AM Advertising [Member]
Schedule of Investments [Line Items]
Ownership percentage, cost method			20.00%	20.00%
Impairment loss on cost method investments			$ 52,150	$ 50,932
Outstanding amount of supplementary agreement \| ¥						¥ 380,000
AM Advertising with Foreign Currency Translation Adjustment [Member]
Schedule of Investments [Line Items]
Ownership percentage, cost method		20.32%
Impairment loss on cost method investments		$ 50,159
Accumulated Impairment Loss on Investments				$ 50,932	$ 47,736

FINANCIAL INFORMATION OF PARENT COMPANY

12 Months Ended

Dec. 31, 2021

FINANCIAL INFORMATION OF PARENT COMPANY

FINANCIAL INFORMATION OF PARENT COMPANY

22. FINANCIAL INFORMATION OF PARENT COMPANY

(a)Balance sheet


	As of December 31,
	2020		2021
Assets
Current assets
Cash and cash equivalents	$	2	$	2
Amount due from subsidiaries		34,031		27,298
Other current assets		108		108

Total current assets		34,141		27,408

TOTAL ASSETS	$	34,141	$	27,408

Liabilities
Current liabilities
Accrued expenses and other current liabilities	$	2,518	$	2,909

Total liabilities		2,518		2,909

Equity
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 151,573,363 and 179,986,169 shares issued as of December 31, 2020 and 2021, respectively; 149,541,085 and 178,993,449 shares outstanding as of December 31, 2020 and 2021, respectively)		152		181
Additional paid-in capital		288,879		298,685
Treasury stock (2,032,278 and 992,720 shares as of December 31, 2020 and 2021, respectively)		(2,351)		(1,148)
Accumulated deficits		(286,365)		(304,904)
Accumulated other comprehensive income		31,308		31,685

Total equity		31,623		24,499

TOTAL LIABILITIES AND EQUITY	$	34,141	$	27,408

22. FINANCIAL INFORMATION OF PARENT COMPANY- continued

(b)Statements of operations


	For the years ended December 31,
	2019		2020		2021
Operating expenses
Selling and marketing	$	—	$	—	$	—
General and administrative		(1,010)		(250)		(566)

Total operating expenses		(1,010)		(250)		(566)
Other income (loss), net		15		(32)		(11)
Investment (loss) income in subsidiaries		(30,482)		7,809		(16,758)

Net (loss) income attributable to holders of ordinary shares	$	(31,477)	$	7,527	$	(17,335)

22. FINANCIAL INFORMATION OF PARENT COMPANY- continued

(c)Statements of comprehensive (loss) income


	For the years ended December 31,
	2019		2020		2021
Net (loss) income	$	(31,477)	$	7,527	$	(17,335)
Other comprehensive loss, net of tax:
Change in cumulative foreign currency translation adjustment		381		(384)		377

Comprehensive (loss) income attributable to Parent Company	$	(31,096)	$	7,143	$	(16,958)

22. FINANCIAL INFORMATION OF PARENT COMPANY- continued

(d)Statements of changes in equity


								(Accumulated		Accumulated
	Ordinary shares			Additional				deficits)		other
				paid-in		Treasury		retained		comprehensive		Total
	Shares	Amount		capital		stock		earnings		Income (loss)		equity

Balance as of January 1, 2020	125,664,777	$	128	$	284,726	$	(2,351)	$	(262,415)	$	31,311	$	51,399
Share-based compensation	—		—		161		—		—		—		161
Foreign currency translation adjustment	—		—		—		—		—		381		381
Net loss	—		—		—		—		(31,477)		—		(31,477)
Balance as of December 31, 2019	125,664,777	$	128		284,887		(2,351)		(293,892)		31,692		20,464
Share issued	23,876,308		24		2,507		—		—		—		2,531
Share-based compensation	—		—		186		—		—		—		186
Capital contribution from non-controlling	—		—		1,299		—		—		—		1,299
Foreign currency translation adjustment	—		—		—		—		—		(384)		(384)
Net income	—		—		—		—		7,527		—		7,527
Balance as of December 31, 2020	149,541,085		152		288,879		(2,351)		(286,365)		31,308		31,623
Ordinary shares issued for share based compensation	1,039,558		1		—		1,203		(1,204)		—		—
Share issued for purchase of equipment	28,412,806		28		8,922		—		—		—		8,950
Share-based compensation	—		—		186		—		—		—		186
Capital contribution from non-controlling	—		—		698		—		—		—		698
Foreign currency translation adjustment	—		—		—		—		—		377		377
Net income	—		—		—		—		(17,335)				(17,335)
Balance as of December 31, 2021	178,993,449		181		298,685		(1,148)		(304,904)		31,685		24,499

22. FINANCIAL INFORMATION OF PARENT COMPANY- continued

(e)Statements of cash flow


	For the years ended December 31,
	2019		2020		2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$	(31,477)	$	7,527	$	(17,335)
Investment income (loss) in subsidiaries		30,482		(7,809)		16,758
Share-based compensation		161		186		186
Bad debt provisions		286		—		—

CHANGES IN WORKING CAPITAL ACCOUNTS
Other current assets		1,501		—		—
Accrued expenses and other current liabilities		695		96		391
Amount due from subsidiaries		(1,651)		—		—

Net cash used in operating activities		(3)		—		—

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercises of stock options		—		—		—

Net cash provided by financing activities		—		—		—

Net decrease in cash, cash equivalents and restricted cash		(3)		—		—
Cash, cash equivalents and restricted cash, at beginning of year		5		2		2

Cash and cash equivalents, at end of year	$	2	$	2	$	2

SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Share issuance for purchase of property and equipment	$	—	$	2,531	$	8,950

22. FINANCIAL INFORMATION OF PARENT COMPANY- continued

(f)Notes

1. BASIS FOR PREPARATION

The condensed financial information of the parent company, AirNet Technology Inc., only has been prepared using the same accounting policies as set out in the Group’s consolidated financial statements except that the parent company uses the equity method to account for its investment in its subsidiaries.

2. INVESTMENTS IN SUBSIDIARIES AND VARIABLE INTEREST ENTITIES

The Company, its subsidiaries, its VIEs and VIEs’ subsidiaries are included in the consolidated financial statements where the inter-company balances and transactions are eliminated upon consolidation. For the purpose of the Company’s stand-alone financial statements, its investments in subsidiaries, VIEs and VIEs’ subsidiaries are reported using the equity method of accounting. The Company’s share of income and losses from its subsidiaries, VIEs and VIEs’ subsidiaries is reported as earnings from subsidiaries, VIEs and VIEs’ subsidiaries in the accompanying condensed financial information of parent company.

3. INCOME TAXES

The Company is a tax exempted company incorporated in the Cayman Islands.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Revenues by Service Categories (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from operations:
Revenues	$ 11,796	$ 23,546	$ 26,225
Air Travel Media Network [Member]
Revenues from operations:
Revenues	9,191	23,474	25,954
Gas Station Media Network [Member]
Revenues from operations:
Revenues	2,604	0
Other Media [Member]
Revenues from operations:
Revenues	$ 1	$ 72	$ 271

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

INCOME TAXES - Schedule of Deferred Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	24 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for doubtful accounts	$ 10,456	$ 15,547
Amortization of intangible assets	589	726
Net operating loss carry forwards	44,878	29,572
Excess marketing and advertising expense (15%)	42	52
Impairment on inventory	0	85
Share transfer loss	0	11,836
Recognized cost of non-deductible VAT-input that generated in prior years	521	348
Total deferred tax assets	56,486	58,166
Valuation allowance	(56,486)	(58,166)
Total deferred tax assets, net	$ 0	$ 0
Percentage of excess marketing and advertising expense	15.00%

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating expenses
Selling and marketing	$ (1,978)	$ (2,533)	$ (4,445)
General and administrative	(8,533)	(9,807)	(20,208)
Total operating expenses	(10,876)	(13,064)	(25,810)
Other income (loss), net	581	9,120	3,301
Parent Company [Member] \| Reportable Legal Entities [Member]
Operating expenses
Selling and marketing	0	0	0
General and administrative	(566)	(250)	(1,010)
Total operating expenses	(566)	(250)	(1,010)
Other income (loss), net	(11)	(32)	15
Investment (loss) income in subsidiaries	(16,758)	7,809	(30,482)
Net (loss) income attributable to holders of ordinary shares	$ (17,335)	$ 7,527	$ (31,477)

NET INCOME(LOSS) PER SHARE

12 Months Ended

Dec. 31, 2021

NET INCOME(LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

11. NET (LOSS) INCOME PER SHARE

The calculation of the net income (loss) per share is as follows:


	For the years ended December 31,
	2019		2020		2021

Numerator:
Net income (loss) attributable to AirNet Technology Inc.'s ordinary shareholders	$	(31,477)	$	7,527	$	(17,335)

Denominator:
Weighted average ordinary shares outstanding used in computing net (loss) income per ordinary share
Basic and diluted (i)		125,664,777		125,795,606		175,628,125
Weighted average shares used in calculating (loss) income per ADS
Basic and diluted		12,566,478		12,579,561		17,562,812

Net (loss) income per ordinary share
Basic and diluted	$	(0.25)	$	0.06	$	(0.10)

Net (loss) income per ADS (ii)
Basic and diluted	$	(2.50)	$	0.60	$	(0.99)

(i)

(ii)

ORGANIZATION AND PRINCIPAL ACTIVITIES

12 Months Ended

Dec. 31, 2021

ORGANIZATION AND PRINCIPAL ACTIVITIES

ORGANIZATION AND PRINCIPAL ACTIVITIES

AIRNET TECHNOLOGY INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2019, 2020 AND 2021

(In U.S. dollars in thousands, except share and per share data)

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

Introduction of the Group

AirNet Technology Inc. ("AirNet" or the "Company") was incorporated in the Cayman Islands on April 12, 2007.

AirNet, its subsidiaries, through its variable interest entities ("VIEs") and VIEs’ subsidiaries (collectively the "Group") to operate its out-of-home advertising network, primarily air travel advertising network, in the People’s Republic of China (the "PRC"). And the Company conducts the cryptocurrencies mining business operations by its Hong Kong subsidiary Blockchain Dynamics Limited.

The Group provides advertising time slots in the form of digital TV screens on airplanes, and media contents display in air travel. Collaborating with the Group’s partners, AirNet serves airline travelers with interactive entertainment and a coverage of breaking news, and furnishes corporate clients with advertisements tailored to the perceptions of the travelers.

The Group generates revenue from the cryptocurrency earns through its mining activities.

As of issuance date of this report, details of the Company’s subsidiaries, VIEs and VIEs’ subsidiaries are as follows:

1.	ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

Introduction of the Group - continued


	Date of		Percentage
	incorporation/	Place of	of legal
Name	acquisition	incorporation	ownership

Intermediate Holding Company:

Broad Cosmos Enterprises Ltd. (“Broad Cosmos”)	June 26, 2006	British Virgin Islands ("BVI")	100	%

AirNet International Limited ("AirNet International")	July 14, 2007	BVI	100	%

AirNet (China) Limited ("AN China")	August 5, 2005	Hong Kong	100	%

Subsidiaries:

Blockchain Dynamics Limited	January 11, 2021	Hong Kong	100	%

Energy Bytes Inc.	January 21, 2022	United States	100	%

Yuehang Chuangyi Technology (Beijing) Co., Ltd. ("Chuangyi Technology")	September 19, 2005	the PRC	100	%

Shenzhen Yuehang Information Technology Co., Ltd. ("Shenzhen Yuehang")	June 6, 2006	the PRC	100	%

Xi’an Shengshi Dinghong Information Technology Co., Ltd. ("Xi’an Shengshi")	December 31, 2007	the PRC	100	%

VIEs:

Beijing Linghang Shengshi Advertising Co., Ltd. ("Linghang Shengshi ")	August 7, 2005	the PRC	N/A

Wangfan Tianxia Network Technology Co., Ltd.(“Iwanfan”)	May 6, 2016	the PRC	N/A

Yuehang Sunshine Network Technology Group Co., Ltd. ("AirNet Online")	April 30, 2015	the PRC	N/A

VIEs’ subsidiaries:

Beijing Yuehang Digital Media Advertising Co., Ltd. ("Beijing Yuehang")	January 16, 2008	the PRC	N/A

Beijing AirNet Pictures Co., Ltd. ("AirNet Pictures")	September 13, 2007	the PRC	N/A

Wenzhou Yuehang Advertising Co., Ltd. ("Wenzhou Yuehang")	October 17, 2008	the PRC	N/A

Beijing Dongding Gongyi Advertising Co., Ltd. ("Dongding")	February 1, 2010	the PRC	N/A

Guangzhou Meizheng Online Network Technology Co., Ltd. ("Guangzhou Meizheng")	May 17, 2013	the PRC	N/A

Air Esurfing Information Technology Co., Ltd. ("Air Esurfing")	September 25, 2013	the PRC	N/A

Wangfan Linghang Mobile Network Technology Co., Ltd. ("Linghang")	April 23, 2015	the PRC	N/A

Beijing Wangfan Jiaming Pictures Co., Ltd. ("Wangfan Jiaming")	December 31, 2015	the PRC	N/A

Meizheng Network Information Technology Co., Ltd. (“Meizheng Network”)	August 8, 2016	the PRC	N/A

Beijing Wangfan Jiaming Advertising Co.,Ltd. ("Jiaming Advertising")	January 1, 2007	the PRC	N/A

Shandong Airmedia Cheweishi Network Technology Co., Ltd. (“Shangdong Cheweishi”)	July 21, 2016	the PRC	N/A

Dingsheng Ruizhi (Beijing) Investment Consulting Co., Ltd. (“Dingsheng Ruizhi”)	May 25, 2016	the PRC	N/A

Yuehang Zhongying E-commerce Co., Ltd. (“Zhongying”)	May 17, 2018	the PRC	N/A

Beijing Airport United Culture Media Co., Ltd. (“Airport United”)	June 19, 2018	the PRC	N/A

Yuehang Sunshine (Beijing) Asset Management Co., Ltd. (“Yuehang Asset”)	January 18, 2019	the PRC	N/A

Air Joy Media Private Limited (“Air Joy”)	November 15, 2019	Singapore	N/A

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements

Chinese regulations currently limit foreign ownership of companies that provide advertising services, including out-of-home television advertising services. Since December 30, 2005, foreign investors have been permitted to own directly 100% interest in PRC advertising companies if the foreign investor has at least three years of direct operations of advertising business outside of the PRC.

One of the Company’s subsidiary, AN China, the 100% shareholder of Chuangyi Technology, Shenzhen Yuehang, and Xi’an Shengshi, has been engaged in the advertising business in Hong Kong since September 2008.

The Group conducts substantially all of its activities through VIEs, i.e. Linghang Shengshi, Iwanfan and AirNet Online, and the VIEs' subsidiaries. The VIEs have entered into the following series of agreements with Chuangyi Technology:

●

Technology support and service agreement: Chuangyi Technology provides exclusive technology support and consulting services to the VIEs and in return, the VIEs are required to pay Chuangyi Technology service fees. The VIEs pay to Chuangyi Technology annual service fees in the amount that guarantee that the VIEs can achieve, after deducting such service fees payable to Chuangyi Technology, a net cost-plus rate of no less than 0.5% in the case of Linghang Shengshi, and Jiaming Advertising, or 1.0% in the case of Beijing Yuehang, which final rate should be determined by Chuangyi Technology. The "net cost-plus rate" refers to the operating profit as a percentage of total costs and expenses of a certain entity. The technology support and service fees for each given year payable by AirNet Online to Chuangyi Technology under AirNet Online’s technology support and service agreement shall be determined by AirNet Online and Chuangyi Technology at the first month of such year taking into account several factors. Those factors include the credential of the team of Chuangyi Technology that provides services to AirNet Online, the number of service hours, the nature and value of the services provided by Chuangyi Technology, the extent to which Chuangyi Technology provides patent or other license to AirNet Online in its provision of technology support and service and the correlation between AirNet Online’s results of operations and the technology support and service provided by Chuangyi Technology. In the event Chuangyi Technology finds it necessary to make subsequent adjustment to the amount of fees, AirNet Online shall negotiate in good faith with Chuangyi Technology to determine the new fee. The technology support and service agreements are effective for ten years and such term is automatically renewed upon its expiry unless either party informs the other party of its intention of no extension at least twenty days prior to the expiration of the agreements.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued

●

Technology development agreement: VIEs exclusively engaged Chuangyi Technology to provide technology development services. Chuangyi Technology owns the intellectual property rights developed in the performance of these agreements. Except for AirNet Online, the VIEs pay to Chuangyi Technology annual service fees in the amount that guarantee that the VIEs can achieve, after deducting such service fees payable to Chuangyi Technology, a net cost-plus rate of no less than 0.5% in the case of Linghang Shengshi, and Jiaming Advertising, which final rate should be determined by Chuangyi Technology. It is at Chuangyi Technology's sole discretion that the rate and amount of fees ultimately charged the VIEs under these agreements are determined. The "net cost-plus rate" refers to the operating profit as a percentage of total costs and expenses of a certain entity. The technology development fees for each given year payable by AirNet Online to Chuangyi Technology under AirNet Online’s technology development agreement shall be determined by AirNet Online and Chuangyi Technology at the first month of such year taking into account several factors. Those factors include the credential of the team of Chuangyi Technology that provides services to AirNet Online, the number of service hours, the nature and value of the services provided by Chuangyi Technology, the extent to which Chuangyi Technology provides patent or other license to AirNet Online in its provision of technology development service and the correlation between AirNet Online’s results of operations and the technology development service provided by Chuangyi Technology. In the event Chuangyi Technology finds it necessary to make subsequent adjustment to the amount of fees, AirNet Online shall negotiate in good faith with Chuangyi Technology to determine the new fee. The technology development agreements are effective for ten years and such terms is automatically renewed upon its expiry unless either party informs the other party of its intention of no extension at least twenty days prior to the expiration of the agreements.

●

Exclusive Technology Consultation and Service Agreement: AirNet Online exclusively engages Chuangyi Technology to provide consultation services in relation to management, training, marketing and promotion. AirNet Online agrees to pay to Chuangyi Technology the amount of annual service fees as determined by Chuangyi Technology. In the event Chuangyi Technology finds it necessary to make subsequent adjustment to the amount of fees, AirNet Online shall negotiate in good faith with Chuangyi Technology to determine the new fees. The exclusive technology consultation and service agreement remains effective for ten years and such term may be reviewed by Chuangyi Technology’s written confirmation prior to the expiration of the agreement term.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued

●

Call option agreement : Under the call option agreements between Chuangyi Technology and the shareholders of Linghang Shengshi, Beijing Yuehang and Jiaming Advertising, the shareholders of those VIEs irrevocably granted Chuangyi Technology or its designated third party an exclusive option to purchase from the VIEs' shareholders, to the extent permitted under PRC law, all the equity interests in the VIEs, as the case may be, for the minimum amount of consideration permitted by the applicable law without any other conditions. Under the call option agreements between Chuangyi Technology and the shareholders of AirNet Online, the shareholders of AirNet Online irrevocably granted Chuangyi Technology or its designated third party an exclusive option to purchase from the shareholders of AirNet Online, to the extent permitted under PRC law, all the equity interests in AirNet Online, as the case may be. To the extent the applicable PRC law does not require the valuation of the subject equity interests and does not otherwise restrict the purchase price for such equity interests, such purchase price shall equal the amount of actual payment made by the respective shareholders of AirNet Online with respect to the equity interests whether in the form or share capital injection or secondary purchase price. If and where the applicable PRC law requires the valuation of the subject equity interests or otherwise has restrictions on the purchase price for such equity interests, such purchase price shall equal the minimum amount of consideration permitted by the applicable law. In addition, under these agreements (except for the call option agreements between Chuangyi Technology and the shareholders of AirNet Online), Chuangyi Technology has undertaken to act as guarantor of VIEs in all operations-related contracts, agreements and transactions and commit to provide loans to support the business development needs of VIEs or if the VIEs suffer operating difficulties, provided that the relevant VIE's shareholders satisfy the terms and conditions in the call option agreements. Under PRC laws, to provide an effective guarantee, a guarantor needs to execute a specific written agreement with the beneficiary of the guarantee. As Chuangyi Technology has not entered into any written guarantee agreements with any third-party beneficiaries to guarantee the VIEs' performance obligations to these third parties, none of these third parties can demand performance from Chuangyi Technology as a guarantor of the VIEs' performance obligations. The absence of a written guarantee agreement, however, does not affect the conclusion that the Group is the primary beneficiary of the VIEs and in turn should consolidate the financials of the VIEs. The term of each call option agreement is ten years and such terms can be renewed upon expiration at Chuangyi Technology's sole discretion.

●

Equity pledge agreement: Under the equity pledge agreements between Chuangyi Technology and the shareholders of the Group’s VIEs other than AirNet Online, the shareholders of those VIEs pledged all of their equity interests, including the right to receive declared dividends, in those VIEs to Chuangyi Technology to guarantee those VIEs' performance of their obligations under the technology support and service agreement and the technology development agreement. Under the equity pledge agreements between Chuangyi Technology and the shareholders of AirNet Online, the shareholders of AirNet Online pledged all of their equity interests, including the right to receive declared dividends, in AirNet Online to Chuangyi Technology to guarantee the performance by AirNet Online of its obligations under its call option agreement and its exclusive technology consultation and service agreement. If the VIEs fail to perform their obligations set forth in the applicable agreements, Chuangyi Technology shall be entitled to exercise all the remedies and powers set forth in the provisions of the applicable equity pledge agreements. Those agreements remain effective for as long as the technology support and service agreements and technology development agreement are effective, or, in the case of AirNet Online, until two years after the term of the obligations under the call option agreement and exclusive technology consultation and service agreement.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued

●

Authorization letter: Each shareholder of the VIEs has executed an authorization letter to authorize Chuangyi Technology to exercise certain of its rights, including voting rights, the rights to enter into legal documents and the rights to transfer any or all of its equity interest in the VIEs. The authorization letters by the shareholders of the Group’s VIEs other than AirNet Online will remain effective during the operating periods of the respective VIEs. Such authorization is effective for ten years and such term is renewed upon its expiry at Chuangyi Technology's sole discretion. The authorization letters by the shareholders of AirNet Online will remain effective for as long as the respective parties remain shareholders of AirNet Online unless terminated earlier by Chuangyi Technology or the call option agreement with respect to AirNet Online is terminated prior to its expiration.

Through the above contractual arrangements, Chuangyi Technology has obtained 100% of shareholders' voting interest in the VIEs, has the right to receive all dividends declared and paid by the VIEs and may receive substantially all of the net income of the VIEs through the technical support and service fees as determined by Chuangyi Technology at its sole discretion. Accordingly, the Group has consolidated the VIEs because the Group believes, through the contractual arrangements, (1) Chuangyi Technology could direct the activities of the VIEs that most significantly affect its economic performance and (2) Chuangyi Technology could receive substantially all of the benefits that could be potentially significant to the VIEs. Other than the contractual arrangements described above, because the management and certain employees of Chuangyi Technology also serve in the VIEs as management or employees, certain operating costs paid by Chuangyi Technology, such as payroll costs and office rental, were re-charged to the VIEs.

Chuangyi Technology also entered into loan agreements with each shareholder of AirNet Online, pursuant to which Chuangyi Technology permits to make loans in an aggregate amount of RMB 50,000 to the shareholders of AirNet Online solely for the incorporation and capitalization of AirNet Online. The loan is interest free and the term of the loan is ten years and shall be automatically renewed on an annual basis unless Chuangyi Technology objects. Chuangyi Technology can require the shareholders to repay all or a portion of the loan before the maturity date with a 15 days prior written notice. Under such circumstances, Chuangyi Technology is entitled to, or designate a third party to, buy all or a portion of the shareholders' equity interests in AirNet Online on a pro rata basis based on the amount of the repaid principal of the loan.

Risks in relation to the VIE structure

The Group believes that the VIE arrangements are in compliance with PRC law and are legally enforceable. The shareholders of the VIEs are also shareholders of the Group and therefore have no current interest in seeking to act contrary to the contractual arrangements. However, uncertainties in the PRC legal system could limit the Group’s ability to enforce these contractual arrangements and if the shareholders of the VIEs were to reduce their interest in the Group, their interests may diverge from that of the Group and that may potentially increase the risk that they would seek to act contrary to the contractual terms, for example by influencing the VIEs not to pay the service fees when required to do so.

The Group’s ability to control the VIEs also depends on the authorization letters that Chuangyi Technology has to vote on all matters requiring shareholder approval in the VIEs. As noted above, the Group believes the rights granted by the authorization letters is legally enforceable but may not be as effective as direct equity ownership.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

Risks in relation to the VIE structure - continued

In addition, if the legal structure and contractual arrangements were found to be in violation of any existing PRC laws and regulations, the PRC government could:

●

revoke the business and operating licenses of the Group’s PRC subsidiaries and affiliates;

●

discontinue or restricting the Group’s PRC subsidiaries’ and affiliates’ operations;

●

impose conditions or requirements with which the Group or its PRC subsidiaries and affiliates may not be able to comply; or

●

require the Group or its PRC subsidiaries and affiliates to restructure the relevant ownership structure or operations;

The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIEs and its subsidiaries or the right to receive their economic benefits, the Group would no longer be able to consolidate the VIEs. The Group does not believe that any penalties imposed or actions taken by the PRC Government would result in the liquidation of the Group, Chuangyi Technology, or the VIEs.

Certain shareholders of VIEs are also beneficial owners or directors of the Company. In addition, certain beneficial owners and directors of the Company are also directors or officers of VIEs. Their interests as beneficial owners of VIEs may differ from the interests of the Company as a whole. The Company cannot be certain that if conflicts of interest arise, these parties will act in the best interests of the Company or that conflicts of interests will be resolved in the Company’s favor. Currently, the Company does not have existing arrangements to address potential conflicts of interest these parties may encounter in their capacity as beneficial owners of VIEs, on the one hand, and as beneficial owners of the Company, on the other hand. The Company believes the shareholders of VIEs will not act contrary to any of the contractual arrangements and the exclusive purchase right contract provides the Company with a mechanism to remove them as shareholders of VIEs should they act to the detriment of the Company. If any conflict of interest or dispute between the Company and the shareholders of VIEs arises and the Company is unable to resolve it, the Company would have to rely on legal proceedings in the PRC. Such legal proceedings could result in disruption of its business; moreover, there is substantial uncertainty as to the ultimate outcome of any such legal proceedings.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued

The following financial statement information for AirNet’s VIEs were included in the accompanying consolidated financial statements, presented net of intercompany eliminations, as of and for the years ended December 31:


	As of December 31,
	2020		2021

Total current assets	$	55,850	$	29,093
Total non-current assets		56,292		53,744

Total assets		112,142		82,837

Total current liabilities		107,221		350,652
Total non-current liabilities		2,608		13

Total liabilities	$	109,829	$	350,665


	For the years ended December 31,
	2019		2020		2021

Net revenues	$	26,022	$	23,434	$	9,075
Net (loss) income		(30,972)		7,672		(15,726)
Net cash used in operating activities		(14,813)		(5,681)		(5,230)
Net cash provided by investing activities		4,440		352		—
Net cash (used in) provided by financing activities		(4,323)		19,164		(9,433)

The VIEs contributed an aggregate of 100.0%, 100.0% and 77.7% of the consolidated net revenues for the years ended DECEMBER 31, 2019, 2020 AND 2021, respectively. As of December 31, 2020 and 2021, the VIEs accounted for an aggregate of 97.4% and 86.3%, respectively, of the consolidated total assets, and 94.3% and 71.3%, respectively, of the consolidated total liabilities.

There are no consolidated VIEs’ assets that are collateral for the VIEs’ obligations and can only be used to settle the VIEs’ obligations. There are no creditors (or beneficial interest holders) of the VIEs that have recourse to the general credit of the Company or any of its consolidated subsidiaries. There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests, which require the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs ever need financial support, the Company or its subsidiaries may, at its option and subject to statutory limits and restrictions, provide financial support to its VIEs through loans to the shareholder of the VIEs or entrustment loans to the VIEs.

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued

On December 23, 2018, the State Council submitted the draft version of the Foreign Investment Law to the Standing Committee of the National People’s Congress, which was promulgated by the National People’s Congress on its official site on December 26, 2018 for public consultation until February 24, 2019. On March 15, 2019, the National People’s Congress approved the Foreign Investment Law, which On December 23, 2018, the PRC State Council submitted the draft version of the Foreign Investment Law to the Standing Committee of the National People’s Congress, which was promulgated by the National People’s Congress on its official site on December 26, 2018 for public consultation until February 24, 2019. On March 15, 2019, the National People’s Congress approved the Foreign Investment Law, which came into effect on January 1, 2020 and replaced the trio of existing laws regulating foreign investment in China, namely, the Sino-foreign Equity Joint Venture Enterprise Law, the Sino-foreign Cooperative Joint Venture Enterprise Law and the Wholly Foreign-invested Enterprise Law, together with their implementation rules and ancillary regulations.

LEASE (Tables)

12 Months Ended

Dec. 31, 2021

LEASE

Schedule of supplemental balance sheet information related to operating lease


	As of December 31,
	2020		2021
Right-of-use assets	$	683	$	18

Lease liabilities - current	$	1,002	$	8
Lease liabilities - non-current		3		13
Total lease liabilities	$	1,005	$	21


Remaining lease term and discount rate:

Weighted average remaining lease term (years)	1.21
Weighted average discount rate	7.5	%

Summary of lease expenses


	For the year ended December 31,
	2020		2021
Operating lease cost	$	989	$	717
Short-term lease cost		32		—
Total	$	1,021	$	717

Schedule of maturities of lease liabilities


2022	$	15
2023		7
Total lease payments		22
Less: imputed interest		(1)
Present value of lease liabilities	$	21

SEGMENT INFORMATION AND REVENUE ANALYSIS

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION AND REVENUE ANALYSIS

SEGMENT INFORMATION AND REVENUE ANALYSIS

3. SEGMENT INFORMATION AND REVENUE ANALYSIS

The Group has organized its operations into two operating segments. The segments reflect the way the Group evaluates its business performance and manages its operations by the Group’s chief operating decision maker (“CODM”) for making decisions, allocating resources and assessing performance. The Group’s CODM has been identified as the chief executive officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group.

The Group has determined that it operates in two operating segments: (1) cryptocurrency mining, and (2) selling advertising time slots on their network, primarily air travel advertising network throughout PRC. The Group’s reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies.

The following tables present the summary of each reportable segment’s revenue and income, which is considered as a segment operating performance measure, for the fiscal years ended December 31, 2019, 2020 and 2021:


	For the year ended December 31, 2019
	Media			Cryptocurrency
	Network			mining		Subtotal			Other		Consolidated
Revenues from external customers	$	26,225		$	—	$	26,225		$	—	$	26,225
Depreciation and amortization	$	(1,018)		$	—	$	(1,018)		$	—	$	(1,018)
Segment loss before tax	$	(7,565)		$	—	$	(7,565)		$	—	$	(7,565)
Segment gross profit margin		(29)	%		—		(29)	%		—		(29)	%

3. SEGMENT INFORMATION AND REVENUE ANALYSIS - continued


	For the year ended December 31, 2020
	Media			Cryptocurrency
	Network			mining		Subtotal			Other		Consolidated
Revenues from external customers	$	23,546		$	—	$	23,546		$	—	$	23,546
Depreciation and amortization	$	(1,334)		$	—	$	(1,334)		$	—	$	(1,334)
Segment income before tax	$	3,846		$	—	$	3,846		$	—	$	3,846
Segment gross profit margin		16	%		—		16	%		—		16	%


	For the year ended December 31, 2021
	Media			Cryptocurrency
	Network			mining			Subtotal			Other		Consolidated
Revenues from external customers	$	9,192		$	2,604		$	11,796		$	—	$	11,796
Depreciation and amortization	$	(1,191)		$	(2,763)		$	(3,954)		$	—	$	(3,954)
Segment loss before tax	$	(2,822)		$	(276)		$	(3,098)		$	—	$	(3,098)
Segment gross profit margin		(31)	%		(11)	%		(26)	%		—		(26)	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

LONG-TERM INVESTMENTS - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Amount	$ 8,170	$ 11,844
Beijing Eastern Media Corporation Ltd. ("BEMC") [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	49.00%	49.00%
Amount	$ 1,338	$ 1,950
Hezhong Chuangjin [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	15.00%	15.00%
Amount	$ 1,983	$ 1,987
Less: impairment on equity method investments:	$ (1,983)	$ (1,987)
LMHB [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	40.00%	40.00%
Amount	$ 193	$ 189
Less: impairment on equity method investments:	$ (191)	$ (189)
Unicom Air Net Beijing Network Co Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	39.00%	39.00%
Amount	$ 6,830	$ 9,894

ORGANIZATION AND PRINCIPAL ACTIVITIES - Additional Information (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Yuehang Chuangyi Technology (Beijing) Co., Ltd. ("Chuangyi Technology") [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Yuehang Sunshine Network Technology Group Co., Ltd. ("AirNet Online") [Member] \| Yuehang Chuangyi Technology (Beijing) Co., Ltd. ("Chuangyi Technology") [Member]
Organization And Principal Activities [Line Items]
Due from Affiliate, Noncurrent	¥ 50,000
Debt Instrument, Term	15 days
Beijing Linghang Shengshi Advertising Co., Ltd. Linghang Shengsh [Member]
Organization And Principal Activities [Line Items]
Minimum Annual Service Fee Percentage	0.50%
AM Yuehan [Member]
Organization And Principal Activities [Line Items]
Minimum Annual Service Fee Percentage	1.00%
Variable Interest Entity, Primary Beneficiary [Member]
Organization And Principal Activities [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Variable Interest Entity, Consolidated Net Revenue Percentage	77.70%	100.00%	100.00%
Variable Interest Entity, Consolidated Total Assets Percentage	86.30%	97.40%
Variable Interest Entity, Consolidated Total Liabilities Percentage	71.30%	94.30%

TREASURY SHARES AND REVERSE ADS SPLIT

12 Months Ended

Dec. 31, 2021

TREASURY SHARES AND REVERSE ADS SPLIT

TREASURY SHARES AND REVERSE ADS SPLIT

14. TREASURY SHARES AND REVERSE ADS SPLIT

Up to December 31, 2021, the Company had repurchased an aggregate of 1,306,486 ADSs from the open market for a total consideration of $17,400, of which 438,137 ADSs had been cancelled and 868,349 ADSs were recorded as treasury stock. As of December 31, 2020 and 2021, accumulated 665,121 and 769,077 ADS of treasury stock have been reissued. On April 11, 2019, upon the execution of Amended and Restated Deposit Agreement which was agreed by AIRNET TECHNOLOGY INC. and JPMorgan Chase Bank, as depositary, 5 original ADSs is combined to 1 new ADS. The Group presents the number of ADSs by retrospectively adjusting to all periods presented. There were no repurchase or cancel of ADSs and 1,039,558 ADS of treasury stock has reissued for the year ended December 31, 2021.

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)	Ordinary shares [Member]	Additional Paid-in Capital [Member]	Treasury stock [Member]	(Accumulated deficits) retained earnings [Member]	Accumulated other comprehensive income (loss)[Member]	AirNet Technology Inc.'s shareholders' equity [Member]	Non-controlling interests [Member]	Total
Beginning Balance at Dec. 31, 2018	$ 128,000	$ 284,726,000	$ (2,351,000)	$ (262,415,000)	$ 31,311,000	$ 51,399,000	$ (37,000,000)	$ 14,399,000
Beginning Balance, shares at Dec. 31, 2018	125,664,777
Share-based compensation	$ 0	161,000	0	0	0	161,000	0	161,000
Foreign currency translation adjustment	0	0	0	0	381,000	381,000	0	381,000
Net income (loss)	0	0	0	(31,477,000)	0	(31,477,000)	(2,427,000)	(33,904,000)
Ending Balance at Dec. 31, 2019	$ 128,000	284,887,000	(2,351,000)	(293,892,000)	31,692,000	20,464,000	(39,427,000)	(18,963,000)
Ending Balance, shares at Dec. 31, 2019	125,664,777
Shares issued for purchase of equipment	$ 24,000	2,507,000	0	0	0	2,531,000	0	2,531,000
Shares issued for purchase of equipment (in shares)	23,876,308
Share-based compensation	$ 0	186,000	0	0	0	186,000	0	186,000
Capital contribution non-controlling	0	1,299,000	0	0	0	1,299,000	150,000	1,449,000
Disposal of subsidiaries	0	0	0	0	0	0	7,375,000	7,375,000
Foreign currency translation adjustment	0	0	0	0	(384,000)	(384,000)	0	(384,000)
Net income (loss)	0	0	0	7,527,000	0	7,527,000	(1,079,000)	6,448,000
Ending Balance at Dec. 31, 2020	$ 152,000	288,879,000	(2,351,000)	(286,365,000)	31,308,000	31,623,000	(32,981,000)	(1,358,000)
Ending Balance, shares at Dec. 31, 2020	149,541,085
Ordinary shares issued for share based compensation	$ 1,000	0	1,203,000	(1,204,000)	0	0	0	0
Ordinary shares issued for share based compensation, shares	1,039,558
Shares issued for purchase of equipment	$ 28,000	8,922,000	0	0	0	8,950,000	0	8,950,000
Shares issued for purchase of equipment (in shares)	28,412,806
Share-based compensation	$ 0	186,000	0	0	0	186,000	0	186,000
Capital contribution non-controlling	0	698,000	0	0	0	698,000	0	698,000
Foreign currency translation adjustment	0	0	0	0	377,000	377,000	0	377,000
Net income (loss)	0	0	0	(17,335,000)	0	(17,335,000)	(452,000)	(17,787,000)
Ending Balance at Dec. 31, 2021	$ 181,000	$ 298,685,000	$ (1,148,000)	$ (304,904,000)	$ 31,685,000	$ 24,499,000	$ (33,433,000)	$ (8,934,000)
Ending Balance, shares at Dec. 31, 2021	178,993,449

OTHER CURRENT ASSETS, NET

12 Months Ended

Dec. 31, 2021

OTHER CURRENT ASSETS, NET

OTHER CURRENT ASSETS, NET

5. OTHER CURRENT ASSETS, NET

Other current assets, net, consist of the following:


	As of December 31,
	2020						2021
	Gross		Allowance		Net		Gross		Allowance		Net

Receivable from third party (i)	$	45,578	$	(42,661)	$	2,917	$	27,107	$	(21,862)	$	5,245
Receivable from AM Advertising and its subsidiaries (ii)		23,947		(9,259)		14,688		23,257		(8,545)		14,712
Input VAT receivable (iii)		5,162		—		5,162		5,379		—		5,379
Other prepaid expenses		6,158		(4,504)		1,654		4,223		(3,089)		1,134
Short-term deposits		5,110		—		5,110		3,980		—		3,980
Prepaid selling and marketing fees		292		(133)		159		983		(448)		535
Receivable from Non-controlling shareholders		1,069		(1,069)		—		736		(736)		—
Prepaid individual income tax and other employee advances		397		(129)		268		510		(166)		344
Stock subscriptions receivable (iv)		2,531		—		2,531		155		—		155
Prepaid income tax		248		(201)		47		—		—		—
Others		64		—		64		50		—		50
Total	$	90,556	$	(57,956)	$	32,600	$	66,380	$	(34,846)	$	31,534

(i)

Receivable from third party mainly represented the concession fee deposits of Guangzhou Meizheng for the ceased operations in providing Wi-Fi services on trains that is expected to be refunded within one year and the refund receivable of concession fee from an airline company. As of December 31, 2020 and 2021, the management conducted a review on the outstanding balance and recorded bad debt provision on other current assets for which the collectability is assessed to be remote. It also consisted of loans to third parties are in order to secure them to provide advertising services at prime locations to the Group. As of December 31, 2020 and 2021, the Group had balance of various loan agreements with third parties with aggregated amount of $40,391 and $6,723, respectively with the terms of one year. The interest rates were from 4.35% to 5% without any assets pledged for the years ended December 31, 2020 and 2021, respectively. As of December 31, 2020 and 2021, the bad debt allowance for loan to third parties amounted to $40,244 and $6,699, respectively.

(ii)

Receivable from AM Advertising and its subsidiaries balance amounted to $23,947 and $23,257 as of December 31, 2020 and 2021, respectively. As of December 31, 2020 and 2021, $9,259 and $8,545 of bad debt allowance were made for the receivable balance, respectively. See Note 19 (b) for further discussion of AM Advertising.

(iii)

Input VAT receivable increased by $217 from $5,162 as of December 31, 2020 to $5,379 as of December 31, 2021. In 2021, economy was adversely affected by the unpredictable COVID-19 and the Group expected that it would be remote to receive invoices to certify the estimated input VAT.

(iv)	On December 30, 2020, the Group issued 23,876,308 ordinary shares to purchase computer servers valued at $2,531, which are specifically designed for mining cryptocurrencies and have been subsequently transferred to the Group in January 2021.

ORGANIZATION AND PRINCIPAL ACTIVITIES - Schedule of VIE's Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Net (loss) income	$ (17,787)	$ 6,448	$ (33,904)
Net cash used in operating activities	(4,975)	(5,555)	(14,916)
Net cash provided by investing activities	0	352	4,440
Net cash (used in) provided by financing activities	(9,433)	19,164	(4,323)
AirNet's VIEs [Member]
Variable Interest Entity [Line Items]
Net revenues	9,075	23,434	26,022
Net (loss) income	(15,726)	7,672	(30,972)
Net cash used in operating activities	(5,230)	(5,681)	(14,813)
Net cash provided by investing activities		352	4,440
Net cash (used in) provided by financing activities	$ (9,433)	$ 19,164	$ (4,323)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=123570139&loc=d3e3000-108585

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=123454820&loc=SL4569616-111683

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 23: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669625-108580

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 29: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 31: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591551-111686

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=120409616&loc=SL4591552-111686

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

+ Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

SEGMENT INFORMATION AND REVENUE ANALYSIS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment	2
Revenues from external customers	$ 11,796	$ 23,546	$ 26,225
Depreciation and amortization	(3,954)	(1,334)	(1,018)
Segment loss before tax	$ (3,098)	$ 3,846	$ (7,565)
Segment gross profit margin	(26.00%)	16.00%	(29.00%)
Media Network
Segment Reporting Information [Line Items]
Revenues from external customers	$ 9,192	$ 23,546	$ 26,225
Depreciation and amortization	(1,191)	(1,334)	(1,018)
Segment loss before tax	$ (2,822)	$ 3,846	$ (7,565)
Segment gross profit margin	(31.00%)	16.00%	(29.00%)
Cryptocurrency mining
Segment Reporting Information [Line Items]
Revenues from external customers	$ 2,604	$ 0	$ 0
Depreciation and amortization	(2,763)	0	0
Segment loss before tax	$ (276)	$ 0	$ 0
Segment gross profit margin	(11.00%)	0.00%	0.00%
Other
Segment Reporting Information [Line Items]
Revenues from external customers	$ 0	$ 0	$ 0
Depreciation and amortization	0	0	0
Segment loss before tax	$ 0	$ 0	$ 0
Segment gross profit margin	0.00%	0.00%	0.00%
Subtotal
Segment Reporting Information [Line Items]
Revenues from external customers	$ 11,796	$ 23,546	$ 26,225
Depreciation and amortization	(3,954)	(1,334)	(1,018)
Segment loss before tax	$ (3,098)	$ 3,846	$ (7,565)
Segment gross profit margin	(26.00%)	16.00%	(29.00%)

SUBSEQUENT EVENTS - Additional Information (Details)				6 Months Ended
SUBSEQUENT EVENTS - Additional Information (Details)	Apr. 06, 2022 USD ($) item $ / shares shares	Jan. 27, 2022 USD ($) ft² a shares	Dec. 30, 2020 item shares	Dec. 31, 2022 shares	Dec. 31, 2021 $ / shares	Dec. 31, 2020 $ / shares	Mar. 29, 2019 $ / shares
Subsequent Event [Line Items]
Shares issued to purchase computer servers			23,876,308
Ordinary shares, par value \| $ / shares					$ 0.001	$ 0.001	$ 0.001
Unistar [Member]
Subsequent Event [Line Items]
Shares issued to purchase computer servers			23,876,308
Percentage of outstanding ordinary shares issued			19.00%
Number of computer servers specifically designed for mining cryptocurrencies delivered \| item			500
Subsequent event [Member]
Subsequent Event [Line Items]
Shares issued to purchase computer servers		4,800		800
Purchase price \| $		$ 60,000,000
Lease term		3 years
Number of acres \| a		4
Area Of Office Space \| ft²		22,603
Subsequent event [Member] \| Unistar [Member]
Subsequent Event [Line Items]
Shares issued to purchase computer servers	177,953,891,000
Number of warrants issued to purchase shares	117,805,476
Ordinary shares, par value \| $ / shares	$ 0.001
Percentage of outstanding ordinary shares issued	100.00%
Subsequent event [Member] \| Unistar [Member] \| ANTMINER S19
Subsequent Event [Line Items]
Number of computer servers specifically designed for mining cryptocurrencies delivered \| $	5,000,000
Subsequent event [Member] \| Unistar [Member] \| INNO A11
Subsequent Event [Line Items]
Number of computer servers specifically designed for mining cryptocurrencies delivered \| item	2,000

INCOME TAXES - Additional Information (Details) $ in Millions	12 Months Ended								36 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2021 HKD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2020 USD ($)
Income Taxes [Line Items]
Assessable profit to determine applicable tax rate		$ 2.0
Income tax rate	25.00%	25.00%	25.00%	25.00%
Operating Loss Carryforwards	$ 7,169,000
Income Tax Examination, Penalties and Interest Expense					$ 4,324,000		$ 1,660,000	$ 2,664,000
Sale of equity interest, percentage								75.00%
Unrecognised tax benefit	0				11,065,000
Unrecognised tax benefit on interest			$ 0	$ 0	$ 0
Valuation allowance	56,486,000		58,166,000						$ 58,166,000
Decreased in net valuation allowance	(1,680,000)
Changes in valuation allowance	$ (763,000)		$ 10,282,000	$ (22,364,000)
Singapore [Member]
Income Taxes [Line Items]
Income tax rate	17.00%	17.00%
Minimum [Member]
Income Taxes [Line Items]
Assessable profit to determine applicable tax rate		$ 2.0
PRC Enterprise Income Tax [Member]
Income Taxes [Line Items]
Income tax rate	25.00%	25.00%
PRC Enterprise Income Tax [Member] \| Wangfan Linghang Mobile Network Technology Co., Ltd. ("Linghang") [Member]
Income Taxes [Line Items]
Preferential tax rate						15.00%			25.00%
PRC Enterprise Income Tax [Member] \| Air Esurfing Information Technology Co., Ltd. ("Air Esurfing") [Member]
Income Taxes [Line Items]
Preferential tax rate	25.00%	25.00%			15.00%
Inland Revenue, Hong Kong [Member] \| Corporate Entity [Member] \| Maximum [Member]
Income Taxes [Line Items]
Income tax rate	16.50%	16.50%
Inland Revenue, Hong Kong [Member] \| Corporate Entity [Member] \| Minimum [Member]
Income Taxes [Line Items]
Income tax rate	8.25%	8.25%
Inland Revenue, Hong Kong [Member] \| Non Corporate Entity [Member] \| Maximum [Member]
Income Taxes [Line Items]
Income tax rate	15.00%	15.00%
Inland Revenue, Hong Kong [Member] \| Non Corporate Entity [Member] \| Minimum [Member]
Income Taxes [Line Items]
Income tax rate	7.50%	7.50%

NET INCOME(LOSS) PER SHARE (Details) (Parenthetical) $ / shares in Units, $ in Thousands				12 Months Ended
	Feb. 04, 2021 shares	Dec. 30, 2020 item shares	Mar. 29, 2019 $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 $ / shares
Shares issued to purchase computer servers \| shares		23,876,308
Common Stock, Par or Stated Value Per Share \| $ / shares			$ 0.001	$ 0.001	$ 0.001
Number of shares per ADS \| shares			10
ADS [Member]
Common Stock, Par or Stated Value Per Share \| $ / shares			$ 0.01
Value of computer servers \| $				$ 2,531
Reverse Stock Split Minimum Block Per Shares \| shares			5
Number Of Shares After Reverse Stock Split Per Each Block \| $ / shares			$ 1
Unistar [Member]
Shares issued to purchase computer servers \| shares		23,876,308
Percentage of outstanding ordinary shares issued		19.00%
Number of computer servers specifically designed for mining cryptocurrencies delivered \| item		500
Per Share consideration \| $ / shares				$ 0.106
Unistar [Member] \| ADS [Member]
Per Share consideration \| $ / shares				$ 1.06
Number of shares per ADS \| shares				10
Northern Shore
Shares issued to purchase computer servers \| shares	28,412,806
Percentage of outstanding ordinary shares issued	19.00%
Value of computer servers \| $				$ 5,540
Per Share consideration \| $ / shares				$ 0.315
Northern Shore \| ADS [Member]
Per Share consideration \| $ / shares				$ 3.15
Number of shares per ADS \| shares				10

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (17,787)	$ 6,448	$ (33,904)
Share-based compensation	186	186	161
Bad debt provisions	258	412	7,184
CHANGES IN WORKING CAPITAL ACCOUNTS
Other current assets	547	(606)	(2,462)
Accrued expenses and other current liabilities	620	141	(134)
Amount due from subsidiaries	27	1	(10)
Net cash used in operating activities	(4,975)	(5,555)	(14,916)
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash provided by financing activities	(9,433)	19,164	(4,323)
Net decrease in cash, cash equivalents and restricted cash	(14,041)	(14,651)	(14,580)
Cash and cash equivalents and restricted cash, at beginning of year	15,610	959	15,539
Cash and cash equivalents, at end of year	1,569	15,610	959
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Share issuance for purchase of property and equipment	8,950	2,531	0
Parent Company [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	(17,335)	7,527	(31,477)
Investment income (loss) in subsidiaries	16,758	(7,809)	30,482
Share-based compensation	186	186	161
Bad debt provisions	0	0	286
CHANGES IN WORKING CAPITAL ACCOUNTS
Other current assets			1,501
Accrued expenses and other current liabilities	391	96	695
Amount due from subsidiaries			(1,651)
Net cash used in operating activities			(3)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercises of stock options	0	0	0
Net cash provided by financing activities	0	0	0
Net decrease in cash, cash equivalents and restricted cash			(3)
Cash and cash equivalents and restricted cash, at beginning of year	2	2	5
Cash and cash equivalents, at end of year	2	2	$ 2
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Share issuance for purchase of property and equipment	$ 8,950	$ 2,531

LONG-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2021

LONG-TERM INVESTMENTS.

LONG-TERM INVESTMENTS

7. LONG-TERM INVESTMENTS, NET

(a) Equity method investments,net

The Group had the following equity method investments:


	As of December 31,
	2020			2021
	Percentage			Percentage
	of			of
Name of company	ownership	Amount		ownership	Amount
	%			%

Beijing Eastern Media Corporation Ltd. (“BEMC”) (1)	49	$	1,950	49	$	1,338

Beijing Hezhong Chuangjin Investment Co., Ltd. (“Hezhong Chuangjin”) (2)	15		1,987	15		1,983

Lanmeihangbiao Tiandi Internet Investment Management (Beijing) Co., Ltd. (“LMHB”) (3)	40		189	40		193

Unicom AirNet (Beijing) Network Co., Ltd. (“Unicom AirNet”) (4)	39		9,894	39		6,830

Less: impairment on equity method investments:
Hezhong Chuangjin (2)			(1,987)			(1,983)
LMHB (3)			(189)			(191)

Equity method investments, net		$	11,844		$	8,170

(1)

(2)

7. LONG-TERM INVESTMENTS, NET - continued

(3)

(4)

(b) Equity investments without readily determinable fair values, net

The Group had the following equity investments without readily determinable fair values, other-than-temporary impairment of $51,508 and $52,739 was recognized as of December 31, 2020 and 2021, respectively:


	As of December 31,
	2020			2021
	Percentage			Percentage
	of			of
Name of company	ownership	Amount		ownership	Amount
	%			%
Zhangshangtong Air Service (Beijing) Co., Ltd. ("Zhangshangtong") (1)	20	$	—	20	$	—

Beijing Zhongjiao Huineng Information Technology Co., Ltd (“Zhongjiao Huineng”) (2)	13		576	13		589

AM Advertising (3)	20		81,583	20		83,534

Less: impairment
Zhangshangtong (1)			—			—
Zhongjiao Huineng (2)			(576)			(589)
AM Advertising (3)			(50,932)			(52,150)

Equity investments without readily determinable fair values, net		$	30,651		$	31,384

(1)

7. LONG-TERM INVESTMENTS, NET - continued

(2)	In January 2016, the Group acquired 13.3% equity interest in Zhongjiao Huineng, a company established in the PRC that is mainly engaged in providing WIFI and GPS service to logistic industry. A full impairment loss was provided as of December 31, 2018.

(3)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued payroll and welfare	$ 1,833	$ 1,907
Other tax payable	55	284
Accrued staff disbursement	1,048	1,598
Deposit payable	27	95
Accrued professional fees		191
Other current liabilities	6,406	19,743
Other accrued expenses	326	584
Total accrued expenses and other current liabilities	$ 9,695	$ 24,402

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of presentation

The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP").

(b) Going concern

(c) Basis of consolidation

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(d) Use of estimates

(e) Significant risks and uncertainties

(f) Fair value

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(f) Fair value - continued

Level 2

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

(g) Fair value of financial instruments

The Group’s financial assets and liabilities measured at fair value on a non-recurring basis include equity investment and long-lived assets based on level 2 or 3 inputs.

(h) Cash and cash equivalents

Cash and cash equivalents consist of cash on hand and highly liquid deposits which are unrestricted as to withdrawal or use, and which have original maturities of three months or less when purchased.

(i) Restricted cash

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(j) Cryptocurrencies

(k) Allowance for doubtful accounts

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(l) Property and equipment , net

Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated on a straight-line basis over the following estimated useful lives:


Digital display network equipment		5 years
Furniture and fixture		5 years
Computer and office equipment		3‑5 years
Vehicle		5 years
Software		5 years
Office property		40 years
Leasehold improvement		Shorter of the term of the lease
		or the estimated useful lives of the assets

(m) Impairment of long-lived assets

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(n) Long-term investments

Equity method investments

Equity investments without readily determinable fair values

Impairment for long-term investments

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(o) Leases

The Group's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

(p) Revenue recognition

The Group’s contract with customers do not include multiple performance obligations, significant financing component and any variable consideration.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

The Group’s revenues are mainly derived from selling advertising time slots on the Group’s advertising networks and cryptocurrency mining.

Revenue by service categories


	For the years ended December 31,
	2019		2020		2021
Revenues from operations:
Air Travel Media Network	$	25,954	$	23,474	$	9,191
Cryptocurrency Mining		—		—		2,604
Other Media		271		72		1
	$	26,225	$	23,546	$	11,796

Air Travel Media Network: Revenues are generated from advertising and programming on airplanes. There are also other revenues from the display of media content in air travel.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

Deferred revenue

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(p) Revenue recognition - continued

Nonmonetary exchanges

(q) Value Added Tax ("VAT")

(r) Concession fees

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(s) Agency fees and Advertisement Publishing Fees

(t) Advertising costs

(u) Foreign currency translation

(u) Foreign currency translation - continued

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(v) Income taxes

(w) Share-based payments

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued

(x) Comprehensive (loss) income

(y) Concentration of credit risk

(z) Net income(loss) per share

(aa) Recent issued accounting standards

Recently issued ASUs by the FASB are not expected to have a material impact on the Group’s consolidated results of operations or financial position.

SHARE BASED PAYMENTS - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised during the period	$ 0	$ 0	$ 0
Share-based compensation expense	186	$ 186	$ 161
Unrecognized compensation cost	$ 251
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	4 months 24 days
Number of options granted	0	0	0
2012 stock incentive plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				6,000,000
Expiration term				5 years

ORGANIZATION AND PRINCIPAL ACTIVITIES - Schedule of VIE's Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Total current assets	$ 36,648	$ 58,635
Total assets	96,035	115,078
Total current liabilities	104,956	113,828
Total liabilities	104,969	116,436
AirNet's VIEs [Member]
Variable Interest Entity [Line Items]
Total current assets	29,093	55,850
Total non-current assets	53,744	56,292
Total assets	82,837	112,142
Total current liabilities	350,652	107,221
Total non-current liabilities	13	2,608
Total liabilities	$ 350,665	$ 109,829

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124098289&loc=d3e6801-107765

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.9)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(12))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(16))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(14))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(11))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(17))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 24: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(10))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19-26)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

+ Details

- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 20: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.21)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(25))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(23))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(26))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 201.5-02(24))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

+ Details

NET INCOME(LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income (loss) attributable to AirNet Technology Inc.'s ordinary shareholders	$ (17,335)	$ 7,527	$ (31,477)
Weighted average ordinary shares outstanding used in computing net loss per ordinary share
Basic	175,628,125	125,795,606	125,664,777
Diluted	175,628,125	125,795,606	125,664,777
Weighted average shares used in calculating loss per ADS
Basic	175,628,125	125,795,606	125,664,777
Diluted	175,628,125	125,795,606	125,664,777
Net loss per ordinary share
Basic	$ (0.10)	$ 0.06	$ (0.25)
Diluted	(0.10)	0.06	(0.25)
Net loss per ADS
Basic	(0.10)	0.06	(0.25)
Diluted	$ (0.10)	$ 0.06	$ (0.25)
ADS [Member]
Weighted average ordinary shares outstanding used in computing net loss per ordinary share
Basic	17,562,812	12,579,561	12,566,478
Diluted	17,562,812	12,579,561	12,566,478
Weighted average shares used in calculating loss per ADS
Basic	17,562,812	12,579,561	12,566,478
Diluted	17,562,812	12,579,561	12,566,478
Net loss per ordinary share
Basic	$ (0.99)	$ 0.60	$ (2.50)
Diluted	(0.99)	0.60	(2.50)
Net loss per ADS
Basic	(0.99)	0.60	(2.50)
Diluted	$ (0.99)	$ 0.60	$ (2.50)

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

Schedule of Amount Due From/To Related Parties

Amount due from related parties:


		As of December 31,
Name of related parties	Relationship	2020		2021
Mambo Fiesta Limited. (1)	Shareholder of the Company	$	17	$	—
Shanghai Qingxuan Co.,Ltd. (1)	Entity controlled by Mr. Herman Man Guo		1		—
Global Earning Pacific Ltd. (1)	Shareholder of the Company		2		—
Wealthy Environment Limited. (1)	Shareholder of the Company		1		—
AirMedia Holding Ltd. (1)	Entity controlled by Mr. Herman Man Guo		3		—
AirMedia Merger Company Ltd. (1)	Entity controlled by Mr. Herman Man Guo		3		—

		$	27	$	—

(1)	The amounts represent interest free advances to the related parties in a short-term basis for operation purpose.

Amount due to related parties:


		As of December 31,
Name of related parties	Relationship	2020		2021

Beijing Eastern Media Corporation Ltd.	Equity method investment	$	—	$	—
Mrs. Dan Shao (1)	Principal Shareholder		1,531		—

		$	1,531	$	—

(1)

As of December 31, 2020 and 2021, the Group had amount due to Mrs. Dan Shao of $1,531 and nil, respectively, representing a loan with annualized interest rate of 21.6% on a short-term basis for the Group’s use in operations. The balance as of December 31, 2020 has been repaid to Mrs. Dan Shao in January 2021.

(b)	Details of transactions with the Group’s related parties for the years ended December 31, 2020 and 2021 were as follows:


	For the year ended December 31,
Transactions	2020		2021
Purchases from Beijing Eastern Media Corporation Ltd.	$	2,423	$	—

MAINLAND CHINA CONTRIBUTION PLAN

12 Months Ended

Dec. 31, 2021

MAINLAND CHINA CONTRIBUTION PLAN

MAINLAND CHINA CONTRIBUTION PLAN

15. MAINLAND CHINA CONTRIBUTION PLAN

Full time employees of the Group in the PRC participate in a government-mandated multiemployer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. PRC labor regulations require the Group to accrue for these benefits based on certain percentages of the employees’ income. The total contribution for such employee benefits were $2,298, $1,088 and $1,056 for the years ended December 31, 2019, 2020 and 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

ACCOUNTS RECEIVABLE, NET - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ACCOUNTS RECEIVABLE, NET.
Balance at beginning of the year	$ 3,797	$ 5,437	$ 5,486
Addition	234	524	113
Reverse	(875)	(144)	(93)
Disposal of subsidiaries		(2,276)
Exchange rate adjustment	(6)	256	(69)
Balance at end of the year	$ 3,150	$ 3,797	$ 5,437

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Certificates of Deposits Pledged For Loans From Third Parties	$ 15,327
Amount pledged from proceeds received from two third parties under a short-term loan arrangement	$ 15,327	$ 15,327
Number of third parties to whom loan was repaid \| item	1

INCOME TAXES

12 Months Ended

Dec. 31, 2021

INCOME TAXES

INCOME TAXES

10. INCOME TAXES

AirNet is a tax-exempted company incorporated in the Cayman Islands.

Broad Cosmos is tax-exempted company incorporated in the British Virgin Islands.

AN China and Blockchain Dynamics Limited are subject to Hong Kong tax law. According to Tax (Amendment) (No. 3) Ordinance 2018 published by Hong Kong government, form April 1, 2018, under the two-tiered profits tax rates regime, the profits tax rate for the first HK$2.0 million of assessable profits will be lowered to 8.25% (half of the rate specified in Schedule 8 to the Inland Revenue Ordinance (IRO)) for corporations and 7.5% (half of the standard rate) for unincorporated businesses (mostly partnerships and sole proprietorships). Assessable profits above HK$2.0 million will continue to be subject to the rate of 16.5% for corporations and standard rate of 15% for unincorporated businesses. AN China is qualified to elect the tax rate of 8.25% as it has no assessable profit in 2018, and has a small profit in 2019, 2020 and 2021.

The Group’s subsidiaries in the PRC are all subject to PRC Enterprise Income Tax ("EIT") on the taxable income in accordance with the relevant PRC income tax laws and regulations except for Air Joy, which was incorporated in Singapore with an income tax rate of 17% and has no assessable profit in 2020 and 2021. The EIT rate for the Group’s operating in PRC was 25% with the following exceptions.

Wangfan Linghang qualified for the HNTE (entities that are qualified as "high and new technology enterprises strongly supported by the state") at the end of 2017 and entitled to an EIT rate of 15%, expiring on December 26, 2020 and was entitled to an EIT rate of 25% afterwards.

10. INCOME TAXES - continued

Air Esurfing qualified for the HNTE in 2018 and entitled to an EIT rate of 15%, expiring on September 10, 2021 and was entitled to an EIT rate of 25% afterwards.

Income tax expenses (benefits) are as follows:


	For the years ended December 31,
	2019		2020		2021
Income tax expenses (benefits):
Current	$	691	$	830	$	284
Deferred		—		—		—
Income tax benefit due to reverse of UTP		—		(11,065)		—
	$	691	$	(10,235)	$	284

Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes is as follows:


	For the years ended December 31,
	2019			2020			2021

Net loss before provision for income taxes	$	(33,213)		$	(3,787)		$	(17,503)
PRC statutory tax rate		25	%		25	%		25	%
Income tax at statutory tax rate		(8,303)			(947)			(4,376)

Expenses not deductible for tax purpose
Entertainment expenses exceeded the tax limit		96			48			42
Tax effect of impairment loss on property and equipment and intangible assets		—			—			—
Tax effect of unrealized net operating loss		30,854			4,481			5,575
Tax effect of other permanent differences		(856)			19			—
Non-taxable gain from subsidiaries disposal		—			(14,323)			—
Effect of income tax benefit due to reverse of UTP		—			(11,065)			—
Changes in valuation allowance		(22,364)			10,282			(763)
Effect of preferential tax rates granted to PRC entities		1,215			1,599			121
Effect of income tax rate change		(262)			(396)			—
HK entities not subject to income taxes		—			—			(391)
Effect of income tax rate difference in other jurisdictions		311			67			76

Income tax expenses (benefits)	$	691		$	(10,235)		$	284

Effective tax rates		(2.1)	%		270.3	%		(1.6)	%

10. INCOME TAXES - continued

The principal components of the Group's deferred income tax assets are as follows:


	As of December 31,
	2020		2021
Deferred tax assets:
Allowance for doubtful accounts	$	15,547	$	10,456
Amortization of intangible assets		726		589
Net operating loss carry forwards		29,572		44,878
Excess marketing and advertising expense (15%)		52		42
Impairment on inventory		85		—
Share transfer loss		11,836		—
Recognized cost of non-deductible VAT-input that generated in prior years		348		521
Total deferred tax assets		58,166		56,486

Valuation allowance		(58,166)		(56,486)

Total deferred tax assets, net	$	—	$	—

The Group had deferred tax assets which consisted of tax loss carry-forwards, accruals and reserves which can be carried forward to offset future taxable income. The valuation allowance provided as of December 31, 2020 and 2021 relates to the deferred tax assets generated by the Group’s VIEs. The Group's subsidiaries in the PRC had total net operating loss carry forwards approximately of $7,169 as of December 31, 2021. The net operating loss carry forwards for the PRC subsidiaries will expire on various dates through year 2026. The Group's valuation allowance decreased by $1,680 from $58,166 as of December 31, 2020 to $56,486 as of December 31, 2021.

The Group evaluates each UTP (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. In 2018, the Group incurred penalties of $4,324 related to underpayment or delayed payment for income tax expense of previous years. A tax penalty of $2,664 was assessed for a one-year delay of income taxes owed for 2015 arising from the gain on transferring 75% equity of AM Advertising and a tax penalty of $1,660 was assessed for the unpaid income tax expense of 2016 for the deduction of bad debt allowances from taxable income before tax without attempting to enforce collections of the assets and filing a special declaration of loss in asset. After paying the penalties noted above in 2018, taxes payable as of December 31, 2018 was $11,065. The Group determined that the unpaid tax liability was an uncertain tax (“UTP”) position as it is not more likely than not to be sustained on audit if the tax authorities were to re-examine this position. The tax authorities have not re-examined this position and the statute of limitations has expired as of the end of 2020. Therefore, the UTP was eliminated as a result of the lapse of the applicable statute of limitations.

For years ending December 31, 2019, 2020 and 2021, the Group recognized no interest expense related to unrecognized tax benefits. The Group is not currently under examination by any income taxing authority, nor has it been notified of an impending examination. As of December 31, 2021, tax years 2017 to present are subject to examination by the tax authorities.

10. INCOME TAXES - continued

Uncertainties exist with respect to how the current income tax law in the PRC applies to the Group’s overall operations, and more specifically, with regard to tax residency status. New EIT Law includes a provision specifying that legal entities organized outside of China will be considered residents for Chinese income tax purposes if the place of effective management or control is within China. The Implementation Rules to the new EIT Law provide that non-resident legal entities will be considered China residents if substantial and overall management and control over the manufacturing and business operations, personnel, accounting, properties, etc., occurs within China. Additional guidance is expected to be released by the Chinese government in the near future that may clarify how to apply this standard to tax payers. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Group does not believe that its legal entities organized outside of China should be treated as residents for new EIT Law purposes. If the PRC tax authorities subsequently determine that the Company and its subsidiaries registered outside the PRC should be deemed resident enterprises, the Company and its subsidiaries registered outside the PRC will be subject to the PRC income tax at a rate of 25%.

However, the Company’s subsidiaries located in the PRC were in a loss position and had accumulated deficit as of December 31,2021, and the tax basis for the investment was greater than the carrying value of this investment. A deferred tax asset should be recognized for this temporary difference only if it is apparent that the temporary difference will reverse in the foreseeable future. Absent of evidence of a reversal in the foreseeable future, no deferred tax asset for such temporary difference was recorded. The Company did not record any tax on any of the undistributed earnings because the relevant subsidiaries do not intend to declare dividends and the Company intends to permanently reinvest it within the PRC.

Aggregate undistributed earnings of the Company’s subsidiaries located in the PRC that are available for distribution to the Company are considered to be indefinitely reinvested and accordingly, no provision has been made for the Chinese dividend withholding taxes that would be payable upon the distribution of those amounts to the Company. The Chinese tax authorities have also clarified that distributions made out of pre-January 1, 2008 retained earnings will not be subject to the withholding tax.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2021

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

21. SUBSEQUENT EVENTS

On January 27, 2022, the Group entered into an equipment purchase agreement for the purchase of 4,800 Bitmain Antminer S-19 XP miners with an intended delivery in equal monthly installments of 800 units in the second half of 2022 in the United States. The aggregate purchase price for these miners is approximately US$60 million (subject to potential adjustments based on the hash rate of the delivered units), for which the Group’s business partner, Foundry Digital LLC will provide financing through its Foundry X.

To accommodate its increasing scale of operations in the United States, the Group entered into a lease agreement for a term of three years, pursuant to which the Group agreed to lease approximately four acres of land including approximately 22,603 square feet of office space in Houston, Texas.

On April 6, 2022, the Group entered into an investment agreement (the “Agreement”) with Unistar Group Holdings Ltd. (“Unistar Group”), Mr. Herman Man Guo, the chairman and chief executive officer of the Company, and Ms. Dan Shao, Mr. Guo’s spouse. Pursuant to the Agreement, the Company has agreed to issue (i) 177,953,891 ordinary shares with a par value of US$0.001 per share (each a “Share”), or approximately 100% of the Company’s outstanding Shares prior to closing of the transactions contemplated thereunder, and (ii) warrants to purchase an aggregate of 117,805,476 newly issued Shares (the “Warrants”), to Unistar Group and Northern Shore Group Limited (“Northern Shore”) in exchange for the delivery and transfer of 5,000 ANTMINER S19 and 2,000 INNO A11 computer servers to further expand the Group’s cryptocurrency business.

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the follows:


	As of December 31,
	2020		2021
Accrued payroll and welfare	$	1,907	$	1,833
Other tax payable		284		55
Accrued staff disbursement		1,598		1,048
Deposit payable		95		27
Accrued professional fees		191		—
Other current liabilities (i)		19,743		6,406
Other accrued expenses		584		326
	$	24,402	$	9,695

(i)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) item	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Significant Accounting Policies [Line Items]
Negative working capital	$ 68,308,000
Certificates of deposits pledged for loans from third parties	15,327,000
Amount pledged for litigation matter	0
Amount Pledged From Proceeds From Short Term Loan Arrangement	$ 15,327,000	$ 15,327,000
Number of third parties under a short-term loan arrangement \| item	2
Number of third parties to whom loan was repaid \| item	1
Net carrying amount of right of use asset	$ 18,000	683,000
Net carrying amount of property and equipment	19,302,000	12,883,000
Contract with Customer, Liability, Current	3,428,000	2,589,000
Revenue, Remaining Performance Obligation, Amount	1,776,000
Contract with Customer, Asset, Net	1,874,000
Revenue from non monetary transactions		0		$ 0
Direct costs for non monetary exchanges	$ 0
VAT rate	6.00%
Cost of non-deductible input VAT that generated in prior years	$ 521,000	1,318,000	$ 10,998,000
Advertising expenses	143,000	$ 201,000	$ 622,000
Unrecognized Tax Benefits	0			$ 11,065,000
Office space [Memebr]
Significant Accounting Policies [Line Items]
Net carrying amount of property and equipment	10,383,000
Office equipment and furniture [Memebr]
Significant Accounting Policies [Line Items]
Net carrying amount of property and equipment	$ 6,600,000
PRC Tax Administration and Collection Law [Member]
Significant Accounting Policies [Line Items]
Operating Loss Carryforwards, Limitations on Use	According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB 100 thousand. In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion.
Hong Kong Inland Revenue Department [Member]
Significant Accounting Policies [Line Items]
Operating Loss Carryforwards, Limitations on Use	According to Hong Kong Inland Revenue Department, the statute of limitation is six years if any company chargeable with tax has not been assessed or has been assessed at less than the proper amount, the statute of limitation is extended to 10 years if the underpayment of taxes is due to fraud or willful evasion.
Exchange of equipment and other assets [Memebr] \| Yijie [Memebr]
Significant Accounting Policies [Line Items]
Revenue from non monetary transactions	$ 792,000
Settlement of confession fee	3,678,000
Exchange of office software [Memebr] \| Beijing Kingsoft Co., Ltd. [Memebr]
Significant Accounting Policies [Line Items]
Consideration amount	$ 431,000
Minimum [Member]
Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	20.00%
Maximum [Member]
Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	50.00%

LONG-TERM INVESTMENTS - Schedule of Equity investments without readily determinable fair values (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2016	Jun. 30, 2010
Cost Method Investments, Fair Value Disclosure	$ 31,384	$ 30,651
Less: impairment on cost method investments	$ (52,739)	$ (51,508)
Zhangshangtong Air Service (Beijing) Co., Ltd. ("Zhangshangtong") [Member]
Ownership percentage, cost method	20.00%	20.00%		20.00%
Cost Method Investments, Fair Value Disclosure		$ 0
Less: impairment on cost method investments		$ 0
Beijing Zhongjiao Huineng Information Technology Co., Ltd ("Zhongjiao Huineng") [Member]
Ownership percentage, cost method	13.00%	13.00%	13.30%
Cost Method Investments, Fair Value Disclosure	$ 589	$ 576
Less: impairment on cost method investments	$ (589)	$ (576)
AM Advertising [Member]
Ownership percentage, cost method	20.00%	20.00%
Cost Method Investments, Fair Value Disclosure	$ 83,534	$ 81,583
Less: impairment on cost method investments	$ (52,150)	$ (50,932)

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 1,569	$ 283	$ 958
Other current assets	31,534	32,600
Total current assets	36,648	58,635
TOTAL ASSETS	96,035	115,078
Current liabilities
Accrued expenses and other current liabilities	9,695	24,402
Total liabilities	104,969	116,436
Equity
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 151,573,363 and 179,986,169 shares issued as of December 31, 2020 and 2021, respectively; 149,541,085 and 178,993,449 shares outstanding as of December 31, 2020 and 2021, respectively)	181	152
Additional paid-in capital	298,685	288,879
Treasury stock (2,032,278 and 992,720 shares as of December 31, 2020 and 2021, respectively)	(1,148)	(2,351)
Accumulated deficits	(304,904)	(286,365)
Accumulated other comprehensive income	31,685	31,308
Total equity	(8,934)	(1,358)	(18,963)	$ 14,399
TOTAL LIABILITIES AND EQUITY	96,035	115,078
Parent Company [Member] \| Reportable Legal Entities [Member]
Current assets
Cash and cash equivalents	2	2
Amount due from subsidiaries	27,298	34,031
Other current assets	108	108
Total current assets	27,408	34,141
TOTAL ASSETS	27,408	34,141
Current liabilities
Accrued expenses and other current liabilities	2,909	2,518
Total liabilities	2,909	2,518
Equity
Ordinary shares ($0.001 par value; 900,000,000 shares authorized; 151,573,363 and 179,986,169 shares issued as of December 31, 2020 and 2021, respectively; 149,541,085 and 178,993,449 shares outstanding as of December 31, 2020 and 2021, respectively)	181	152
Additional paid-in capital	298,685	288,879
Treasury stock (2,032,278 and 992,720 shares as of December 31, 2020 and 2021, respectively)	(1,148)	(2,351)
Accumulated deficits	(304,904)	(286,365)
Accumulated other comprehensive income	31,685	31,308
Total equity	24,499	31,623	$ 20,464	$ 51,399
TOTAL LIABILITIES AND EQUITY	$ 27,408	$ 34,141

SHARE BASED PAYMENTS - Binomial option pricing model (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	39.90%
Risk-free interest rate (per annum)	2.13%
Exercise multiples	2.2
Expected dividend yield	0.00%
Expected term (in years)	10 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of the underlying shares on the date of option grants (in US$)	$ 1.23
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of the underlying shares on the date of option grants (in US$)	$ 1.46

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Statements of Changes in Equity (Details) - USD ($)		12 Months Ended
	Dec. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		$ (1,358,000)	$ (18,963,000)	$ 14,399,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment	$ 2,531,000	8,950,000	2,531,000
Shares issued for purchase of equipment (in shares)	23,876,308
Share issued	23,876,308
Share-based compensation		186,000	186,000	161,000
Foreign currency translation adjustment		377,000	(384,000)	381,000
Net loss		(17,787,000)	6,448,000	(33,904,000)
Capital contribution from noncontrolling		698,000	1,449,000
Ending Balance		$ (8,934,000)	$ (1,358,000)	$ (18,963,000)
Ordinary shares [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance, shares		149,541,085	125,664,777	125,664,777
Beginning Balance		$ 152,000	$ 128,000	$ 128,000
Ordinary shares issued for share based compensation		$ 1,000
Ordinary shares issued for share based compensation, shares		1,039,558
Shares issued for purchase of equipment		$ 28,000	$ 24,000
Shares issued for purchase of equipment (in shares)		28,412,806	23,876,308
Share issued		28,412,806	23,876,308
Share-based compensation		$ 0	$ 0	0
Foreign currency translation adjustment		0	0	0
Net loss		0	0	$ 0
Capital contribution from noncontrolling		$ 0	$ 0
Ending Balance, shares		178,993,449	149,541,085	125,664,777
Ending Balance		$ 181,000	$ 152,000	$ 128,000
Additional Paid-in Capital [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		288,879,000	284,887,000	284,726,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment		8,922,000	2,507,000
Share-based compensation		186,000	186,000	161,000
Foreign currency translation adjustment		0	0	0
Net loss		0	0	0
Capital contribution from noncontrolling		698,000	1,299,000
Ending Balance		298,685,000	288,879,000	284,887,000
Treasury stock [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		(2,351,000)	(2,351,000)	(2,351,000)
Ordinary shares issued for share based compensation		1,203,000
Shares issued for purchase of equipment		0	0
Share-based compensation		0	0	0
Foreign currency translation adjustment		0	0	0
Net loss		0	0	0
Capital contribution from noncontrolling		0	0
Ending Balance		(1,148,000)	(2,351,000)	(2,351,000)
(Accumulated deficits) retained earnings [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		(286,365,000)	(293,892,000)	(262,415,000)
Ordinary shares issued for share based compensation		(1,204,000)
Shares issued for purchase of equipment		0	0
Share-based compensation		0	0	0
Foreign currency translation adjustment		0	0	0
Net loss		(17,335,000)	7,527,000	(31,477,000)
Capital contribution from noncontrolling		0	0
Ending Balance		(304,904,000)	(286,365,000)	(293,892,000)
Accumulated other comprehensive income (loss)[Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		31,308,000	31,692,000	31,311,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment		0	0
Share-based compensation		0	0	0
Foreign currency translation adjustment		377,000	(384,000)	381,000
Net loss		0	0	0
Capital contribution from noncontrolling		0	0
Ending Balance		31,685,000	31,308,000	31,692,000
Parent Company [Member] \| Reportable Legal Entities [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		31,623,000	20,464,000	51,399,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment		8,950,000
Share issued			2,531,000
Share-based compensation		186,000	186,000	161,000
Foreign currency translation adjustment		377,000	(384,000)	381,000
Net loss		(17,335,000)	7,527,000	(31,477,000)
Capital contribution from noncontrolling		698,000	1,299,000
Ending Balance		$ 24,499,000	$ 31,623,000	$ 20,464,000
Parent Company [Member] \| Reportable Legal Entities [Member] \| Ordinary shares [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance, shares		149,541,085	125,664,777	125,664,777
Beginning Balance		$ 152,000	$ 128,000	$ 128,000
Ordinary shares issued for share based compensation		$ 1,000
Ordinary shares issued for share based compensation, shares		1,039,558
Shares issued for purchase of equipment		$ 28,000
Shares issued for purchase of equipment (in shares)		28,412,806	23,876,308
Share issued		28,412,806	23,876,308
Share issued			$ 24,000
Share-based compensation		$ 0	0	0
Foreign currency translation adjustment		0	0	0
Net loss		0	0	$ 0
Capital contribution from noncontrolling		$ 0	$ 0
Ending Balance, shares		178,993,449	149,541,085	125,664,777
Ending Balance		$ 181,000	$ 152,000	$ 128,000
Parent Company [Member] \| Reportable Legal Entities [Member] \| Additional Paid-in Capital [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		288,879,000	284,887,000	284,726,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment		8,922,000
Share issued			2,507,000
Share-based compensation		186,000	186,000	161,000
Foreign currency translation adjustment		0	0	0
Net loss		0	0	0
Capital contribution from noncontrolling		698,000	1,299,000
Ending Balance		298,685,000	288,879,000	284,887,000
Parent Company [Member] \| Reportable Legal Entities [Member] \| Treasury stock [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		(2,351,000)	(2,351,000)	(2,351,000)
Ordinary shares issued for share based compensation		1,203,000
Shares issued for purchase of equipment		0
Share issued			0
Share-based compensation		0	0	0
Foreign currency translation adjustment		0	0	0
Net loss		0	0	0
Capital contribution from noncontrolling		0	0
Ending Balance		(1,148,000)	(2,351,000)	(2,351,000)
Parent Company [Member] \| Reportable Legal Entities [Member] \| (Accumulated deficits) retained earnings [Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		(286,365,000)	(293,892,000)	(262,415,000)
Ordinary shares issued for share based compensation		(1,204,000)
Shares issued for purchase of equipment		0
Share issued			0
Share-based compensation		0	0	0
Foreign currency translation adjustment		0	0	0
Net loss		(17,335,000)	7,527,000	(31,477,000)
Capital contribution from noncontrolling		0	0
Ending Balance		(304,904,000)	(286,365,000)	(293,892,000)
Parent Company [Member] \| Reportable Legal Entities [Member] \| Accumulated other comprehensive income (loss)[Member]
Condensed Financial Statements, Captions [Line Items]
Beginning Balance		31,308,000	31,692,000	31,311,000
Ordinary shares issued for share based compensation		0
Shares issued for purchase of equipment		0
Share issued			0
Share-based compensation		0	0	0
Foreign currency translation adjustment		377,000	(384,000)	381,000
Net loss			0	0
Capital contribution from noncontrolling		0	0
Ending Balance		$ 31,685,000	$ 31,308,000	$ 31,692,000

FAIR VALUE MEASUREMENT - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
FAIR VALUE MEASUREMENT
Impairment of Intangible Assets, Finite-lived	$ 0	$ 0	$ 0
Other than Temporary Impairment Losses, Investments	$ 0	$ 0	$ 0

RELATED PARTY TRANSACTIONS - Schedule of Group Related Party (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Beijing Eastern Airlines Media Co Ltd [Member]
Related Party Transaction [Line Items]
Purchases from Related Party	$ 2,423

ACCOUNTS RECEIVABLE, NET - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ACCOUNTS RECEIVABLE, NET.
Accounts receivable, gross	$ 5,408	$ 14,195
Less: Allowance for doubtful accounts	(3,150)	(3,797)	$ (5,437)	$ (5,486)
Accounts receivable, net	$ 2,258	$ 10,398

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash and cash equivalents	$ 1,569	$ 283	$ 958
Restricted cash	0	15,327	1
Total cash and cash equivalents	$ 1,569	$ 15,610	$ 959	$ 15,539

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues	$ 11,796	$ 23,546	$ 26,225
Business tax and other sales tax	(119)	(112)	(203)
Net revenues	11,677	23,434	26,022
Less: Cost of revenues	14,775	19,588	33,587
Gross (loss) profit	(3,098)	3,846	(7,565)
Operating expenses:
Selling and marketing	1,978	2,533	4,445
General and administrative	8,533	9,807	20,208
Research and development	365	724	1,157
Total operating expenses	10,876	13,064	25,810
Loss from operations	(13,974)	(9,218)	(33,375)
Other income (expenses):
Interest expense, net	(1,120)	(742)	(436)
Loss from and impairment on long-term investments	(2,990)	(2,947)	(2,703)
Other income, net	581	9,120	3,301
Total other income (expense)	(3,529)	5,431	162
Loss before income taxes	(17,503)	(3,787)	(33,213)
Income tax expenses (benefits)	284	(10,235)	691
Net (loss) income	(17,787)	6,448	(33,904)
Less: Net loss attributable to non-controlling interests	(452)	(1,079)	(2,427)
Net (loss) income attributable to AirNet Technology Inc.'s shareholders	$ (17,335)	$ 7,527	$ (31,477)
Net (loss) income per ordinary share
Basic	$ (0.10)	$ 0.06	$ (0.25)
Diluted	$ (0.10)	$ 0.06	$ (0.25)
Weighted average shares used in calculating net loss per ordinary share
Basic	175,628,125	125,795,606	125,664,777
Diluted	175,628,125	125,795,606	125,664,777
ADS [Member]
Net (loss) income per ordinary share
Basic	$ (0.99)	$ 0.60	$ (2.50)
Diluted	$ (0.99)	$ 0.60	$ (2.50)
Weighted average shares used in calculating net loss per ordinary share
Basic	17,562,812	12,579,561	12,566,478
Diluted	17,562,812	12,579,561	12,566,478

SHARE BASED PAYMENTS

12 Months Ended

Dec. 31, 2021

SHARE BASED PAYMENTS

SHARE BASED PAYMENTS

12. SHARE BASED PAYMENTS

2012 Share incentive plan

In 2012 the Group created the 2012 Share Incentive Plan (the “Plan”) which provides for 6,000,000 ordinary shares options to be granted to employees and directors. Share options under this Plan may vest over a service period, performance condition or market condition, as specified in each award. Share options expire 5 years from the grant date.

The following summary of stock option activities for the year ended December 31, 2021:


	Outstanding Options
		Weighted				Weighted
		average		Weighted		average
		exercise		average		remaining	Aggregate
	Number of	price		grant-date		contractual	intrinsic
	options	per option		fair value		terms	value
Outstanding as of January 1, 2022	6,540,000	$	0.44	$	0.35	2.53	$	—
Granted	—		—		—	—		—
Exercised	—		—		—	—		—
Forfeited	—		—		—	—		—
Expired	—		—		—	—		—

Outstanding as of December 31, 2022	6,540,000	$	0.44	$	0.35	1.53	$	—
Options vested and expected to vest as of December 31, 2022	6,540,000	$	0.44	$	0.35	1.53	$	—

Options exercisable as of December 31, 2022	4,152,490	$	0.53	$	0.53	1.20	$	—

The total intrinsic value of options exercised during the years ended December 31, 2019, 2020 and 2021 were all nil. The Group recorded share-based compensation of $161, $186 and $186 for the years ended December 31, 2019, 2020 and 2021, respectively. There was $251 of total unrecognized compensation expense related to unvested share options granted as of December 31, 2021, which is expected to be recognized over a weighted-average period 0.40 years on a straight-line basis.

(1)

Volatility

The volatility of the underlying ordinary shares during the life of the options was estimated based on the historical stock price volatility of the Company’s ordinary shares and listed shares of comparable companies over a period comparable to the expected term of the options. From March 2011, the volatility was estimated based on the historical volatility of the Company’s share price as the Company has accumulated sufficient history of stock price for a period comparable to the expected term of the options.

(2)

Risk-free rate

Risk-free rate is based on yield of US Treasury bill as of valuation date with maturity date close to the expected term of the options.

12. SHARE BASED PAYMENTS - continued

(3)

Expected term

The expected term is estimated based on a consideration of factors including the original contractual term and the vesting term.

(4)

Dividend yield

The dividend yield was estimated by the Group based on its expected dividend policy over the expected term of the options. The Group has no plan to pay any dividend in the foreseeable future. Therefore, the Group considers the dividend yield to be zero.

(5)

Exercise price

The exercise price of the options was determined by the Group’s Board of Directors.

(6)

Fair value of underlying ordinary shares

The closing market price of the ordinary shares of the Company as of the grant/modification date was used as the fair value of the ordinary shares on that date.

No options were granted during 2019 to 2021. The estimated fair value of option granted in 2019 is estimated on the date of grant using the Binomial option-pricing model with the following assumptions:



Expected volatility	39.90	%
Risk-free interest rate (per annum)	2.13	%
Exercise multiples	2.2
Expected dividend yield	0	%
Expected term (in years)	10
Fair value of the underlying shares on the date of option grants (in US$)	1.23~1.46

ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2021

Variable Interest Entity [Line Items]

Schedule of company's subsidiaries and VIE's


	Date of		Percentage
	incorporation/	Place of	of legal
Name	acquisition	incorporation	ownership

Intermediate Holding Company:

Broad Cosmos Enterprises Ltd. (“Broad Cosmos”)	June 26, 2006	British Virgin Islands ("BVI")	100	%

AirNet International Limited ("AirNet International")	July 14, 2007	BVI	100	%

AirNet (China) Limited ("AN China")	August 5, 2005	Hong Kong	100	%

Subsidiaries:

Blockchain Dynamics Limited	January 11, 2021	Hong Kong	100	%

Energy Bytes Inc.	January 21, 2022	United States	100	%

Yuehang Chuangyi Technology (Beijing) Co., Ltd. ("Chuangyi Technology")	September 19, 2005	the PRC	100	%

Shenzhen Yuehang Information Technology Co., Ltd. ("Shenzhen Yuehang")	June 6, 2006	the PRC	100	%

Xi’an Shengshi Dinghong Information Technology Co., Ltd. ("Xi’an Shengshi")	December 31, 2007	the PRC	100	%

VIEs:

Beijing Linghang Shengshi Advertising Co., Ltd. ("Linghang Shengshi ")	August 7, 2005	the PRC	N/A

Wangfan Tianxia Network Technology Co., Ltd.(“Iwanfan”)	May 6, 2016	the PRC	N/A

Yuehang Sunshine Network Technology Group Co., Ltd. ("AirNet Online")	April 30, 2015	the PRC	N/A

VIEs’ subsidiaries:

Beijing Yuehang Digital Media Advertising Co., Ltd. ("Beijing Yuehang")	January 16, 2008	the PRC	N/A

Beijing AirNet Pictures Co., Ltd. ("AirNet Pictures")	September 13, 2007	the PRC	N/A

Wenzhou Yuehang Advertising Co., Ltd. ("Wenzhou Yuehang")	October 17, 2008	the PRC	N/A

Beijing Dongding Gongyi Advertising Co., Ltd. ("Dongding")	February 1, 2010	the PRC	N/A

Guangzhou Meizheng Online Network Technology Co., Ltd. ("Guangzhou Meizheng")	May 17, 2013	the PRC	N/A

Air Esurfing Information Technology Co., Ltd. ("Air Esurfing")	September 25, 2013	the PRC	N/A

Wangfan Linghang Mobile Network Technology Co., Ltd. ("Linghang")	April 23, 2015	the PRC	N/A

Beijing Wangfan Jiaming Pictures Co., Ltd. ("Wangfan Jiaming")	December 31, 2015	the PRC	N/A

Meizheng Network Information Technology Co., Ltd. (“Meizheng Network”)	August 8, 2016	the PRC	N/A

Beijing Wangfan Jiaming Advertising Co.,Ltd. ("Jiaming Advertising")	January 1, 2007	the PRC	N/A

Shandong Airmedia Cheweishi Network Technology Co., Ltd. (“Shangdong Cheweishi”)	July 21, 2016	the PRC	N/A

Dingsheng Ruizhi (Beijing) Investment Consulting Co., Ltd. (“Dingsheng Ruizhi”)	May 25, 2016	the PRC	N/A

Yuehang Zhongying E-commerce Co., Ltd. (“Zhongying”)	May 17, 2018	the PRC	N/A

Beijing Airport United Culture Media Co., Ltd. (“Airport United”)	June 19, 2018	the PRC	N/A

Yuehang Sunshine (Beijing) Asset Management Co., Ltd. (“Yuehang Asset”)	January 18, 2019	the PRC	N/A

Air Joy Media Private Limited (“Air Joy”)	November 15, 2019	Singapore	N/A

Schedule of VIE's income statement amounts


	For the years ended December 31,
	2019		2020		2021

Net revenues	$	26,022	$	23,434	$	9,075
Net (loss) income		(30,972)		7,672		(15,726)
Net cash used in operating activities		(14,813)		(5,681)		(5,230)
Net cash provided by investing activities		4,440		352		—
Net cash (used in) provided by financing activities		(4,323)		19,164		(9,433)

AirNet's VIEs [Member]

Variable Interest Entity [Line Items]

Schedule of VIE's balance sheet amounts

1.ORGANIZATION AND PRINCIPAL ACTIVITIES – continued

The VIE arrangements - continued


	As of December 31,
	2020		2021

Total current assets	$	55,850	$	29,093
Total non-current assets		56,292		53,744

Total assets		112,142		82,837

Total current liabilities		107,221		350,652
Total non-current liabilities		2,608		13

Total liabilities	$	109,829	$	350,665

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

OTHER CURRENT ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2021

OTHER CURRENT ASSETS, NET

Schedule of Other Current Assets Net

Other current assets, net, consist of the following:


	As of December 31,
	2020						2021
	Gross		Allowance		Net		Gross		Allowance		Net

Receivable from third party (i)	$	45,578	$	(42,661)	$	2,917	$	27,107	$	(21,862)	$	5,245
Receivable from AM Advertising and its subsidiaries (ii)		23,947		(9,259)		14,688		23,257		(8,545)		14,712
Input VAT receivable (iii)		5,162		—		5,162		5,379		—		5,379
Other prepaid expenses		6,158		(4,504)		1,654		4,223		(3,089)		1,134
Short-term deposits		5,110		—		5,110		3,980		—		3,980
Prepaid selling and marketing fees		292		(133)		159		983		(448)		535
Receivable from Non-controlling shareholders		1,069		(1,069)		—		736		(736)		—
Prepaid individual income tax and other employee advances		397		(129)		268		510		(166)		344
Stock subscriptions receivable (iv)		2,531		—		2,531		155		—		155
Prepaid income tax		248		(201)		47		—		—		—
Others		64		—		64		50		—		50
Total	$	90,556	$	(57,956)	$	32,600	$	66,380	$	(34,846)	$	31,534

(i)

(ii)

(iii)

(iv)	On December 30, 2020, the Group issued 23,876,308 ordinary shares to purchase computer servers valued at $2,531, which are specifically designed for mining cryptocurrencies and have been subsequently transferred to the Group in January 2021.

FINANCIAL INFORMATION OF PARENT COMPANY - Schedule of Parent Company Balance Sheets (Details) (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Mar. 29, 2019
FINANCIAL INFORMATION OF PARENT COMPANY
Common stock, par value per share	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	179,986,169	151,573,363
Common stock, shares outstanding	178,993,449	149,541,085
Treasury stock, shares	992,720	2,032,278

TREASURY SHARES AND REVERSE ADS SPLIT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
TREASURY SHARES AND REVERSE ADS SPLIT
Number of ADSs repurchased	1,306,486
Shares repurchased, amount	$ 17,400,000
Shares cancelled, shares	438,137
Treasury stock, Number of ADSs	868,349
Number of ADSs reissued	769,077	665,121
Treasury stock reissued	$ 1,039,558

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES

Schedule of Income tax expenses

Income tax expenses (benefits) are as follows:


	For the years ended December 31,
	2019		2020		2021
Income tax expenses (benefits):
Current	$	691	$	830	$	284
Deferred		—		—		—
Income tax benefit due to reverse of UTP		—		(11,065)		—
	$	691	$	(10,235)	$	284

Schedule of reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes

Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes is as follows:


	For the years ended December 31,
	2019			2020			2021

Net loss before provision for income taxes	$	(33,213)		$	(3,787)		$	(17,503)
PRC statutory tax rate		25	%		25	%		25	%
Income tax at statutory tax rate		(8,303)			(947)			(4,376)

Expenses not deductible for tax purpose
Entertainment expenses exceeded the tax limit		96			48			42
Tax effect of impairment loss on property and equipment and intangible assets		—			—			—
Tax effect of unrealized net operating loss		30,854			4,481			5,575
Tax effect of other permanent differences		(856)			19			—
Non-taxable gain from subsidiaries disposal		—			(14,323)			—
Effect of income tax benefit due to reverse of UTP		—			(11,065)			—
Changes in valuation allowance		(22,364)			10,282			(763)
Effect of preferential tax rates granted to PRC entities		1,215			1,599			121
Effect of income tax rate change		(262)			(396)			—
HK entities not subject to income taxes		—			—			(391)
Effect of income tax rate difference in other jurisdictions		311			67			76

Income tax expenses (benefits)	$	691		$	(10,235)		$	284

Effective tax rates		(2.1)	%		270.3	%		(1.6)	%

Schedule of Deferred Income Tax Assets and Liabilities

10. INCOME TAXES - continued

The principal components of the Group's deferred income tax assets are as follows:


	As of December 31,
	2020		2021
Deferred tax assets:
Allowance for doubtful accounts	$	15,547	$	10,456
Amortization of intangible assets		726		589
Net operating loss carry forwards		29,572		44,878
Excess marketing and advertising expense (15%)		52		42
Impairment on inventory		85		—
Share transfer loss		11,836		—
Recognized cost of non-deductible VAT-input that generated in prior years		348		521
Total deferred tax assets		58,166		56,486

Valuation allowance		(58,166)		(56,486)

Total deferred tax assets, net	$	—	$	—

INCOME TAXES - Schedule of Reconciliation between the provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation between the provision for income taxes computed by applying the PRC EIT rate of 25% to income before income taxes and the actual provision of income taxes
Net loss before provision for income taxes	$ (17,503)	$ (3,787)	$ (33,213)
PRC statutory tax rate	25.00%	25.00%	25.00%
Income tax at statutory tax rate	$ (4,376)	$ (947)	$ (8,303)
Expenses not deductible for tax purpose
Entertainment expenses exceeded the tax limit	42	48	96
Tax effect of impairment loss on property and equipment and intangible assets	0	0	0
Tax effect of unrealized net operating loss	5,575	4,481	30,854
Tax effect of other permanent differences	0	19	(856)
Non-taxable gain from subsidiaries disposal	0	(14,323)	0
Changes in valuation allowance	(763)	10,282	(22,364)
Effect of preferential tax rates granted to PRC entities	121	1,599	1,215
Effect of income tax benefit due to reverse of UTP	0	(11,065)	0
Effect of income tax rate change	0	(396)	(262)
HK entities not subject to income taxes	(391)	0	0
Effect of income tax rate difference in other jurisdictions	76	67	311
Income tax expenses (benefits)	$ 284	$ (10,235)	$ 691
Effective tax rates	(1.60%)	270.30%	(2.10%)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Digital display network equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixture [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Computer and office equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computer and office equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Vehicle [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Office property [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	40 years

LEASE - Lease expenses (Details) - USD ($) $ in Thousands	12 Months Ended
LEASE - Lease expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
LEASE
Operating lease cost	$ 717	$ 989
Short-term lease cost		32
Total	$ 717	$ 1,021

STATUTORY RESERVES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Description Of General Reserve Limit On Registered Capital	Once the general reserve is accumulated to 50% of the subsidiaries’ registered capital
Group allocated Statutory reserves	$ 0	$ 0	$ 0
Minimum [Member]
Percentage Of Appropriation To Reserve	10.00%

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2021

PROPERTY AND EQUIPMENT, NET

Schedule of Property and Equipment, Net

Property and equipment, net, consist of the following:


	As of December 31,
	2020		2021
Wi-Fi and network equipment	$	32,893	$	18,544
Office property		11,473		11,747
Software		10,311		10,558
Digital display network equipment		7,046		5,882
Computer and office equipment		2,937		12,671
Leasehold improvement		2,556		2,769
Furniture and fixture		914		785
Vehicle		777		586
Total original costs		68,907		63,542
Less: impairment		(26,262)		(16,353)
Less: accumulated depreciation		(29,852)		(28,067)
Construction in progress		690		180
Less: impairment on construction in process		(600)		—

Total property and equipment, net	$	12,883	$	19,302

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (17,787)	$ 6,448	$ (33,904)
Adjustments to reconcile net income/(loss) to net cash used in operating activities:
Bad debt provisions	258	412	7,184
Depreciation and amortization	3,954	1,334	1,018
Amortization of right-of-use asset	571	946	860
Share-based compensation	186	186	161
Loss from and impairment on long-term investments	2,990	2,947	2,703
Loss on disposal of property and equipment	0	13	89
Impairment loss on inventory	0	0	322
Cost of non-deductible input VAT that generated in prior years	521	1,318	10,998
Other income on concession payable waived	0	(563)	(4,053)
Other income on disposal of subsidiaries	0	(8,974)	0
Income tax benefit due to reverse of UTP	0	(11,065)	0
Changes in assets and liabilities
Accounts receivable	7,882	(1,717)	(608)
Prepaid concession fees	(628)	724	500
Other current assets	547	(606)	(2,462)
Cryptocurrency, less impairment	(659)	0	0
Long-term deposits	(131)	499	121
Amount due from related parties	27	1	(10)
Accounts payable	(3,846)	1,075	1,866
Accrued expenses and other current liabilities	620	141	(134)
Deferred revenue	839	(327)	850
Amount due to related parties	0	821	30
Income tax payable	571	1,391	496
Lease liabilities	(890)	(559)	(943)
Net cash used in operating activities	(4,975)	(5,555)	(14,916)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	0	(83)	(2,805)
Proceeds from disposal of equity investment	0	0	7,245
Proceeds from disposal of subsidiaries	0	435	0
Net cash provided by investing activities	0	352	4,440
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from short-term loan	18,938	5,217	5,941
Cash repaid for short-term loan	(6,762)	0	(11,882)
Cash repaid for long-term loan	(2,605)	(145)	(145)
Cash repaid to third party	(18,171)	0	0
Cash received from loan due to related parties	0	0	2,898
Cash repaid for loan due to related parties	(1,531)	(1,849)	0
Capital contribution from non-controlling interest	698	1,449	0
Financing received from the third parties	0	14,492	0
Capital withdraw by non-controlling shareholder	0	0	(1,135)
Net cash (used in) provided by financing activities	(9,433)	19,164	(4,323)
Effect of exchange rate changes	367	690	219
Net decrease in cash, cash equivalents and restricted cash	(14,041)	(14,651)	(14,580)
Cash and cash equivalents and restricted cash, at beginning of year	15,610	959	15,539
Cash and cash equivalents, at end of year	1,569	15,610	959
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Income tax paid	72	16	194
Interests paid	784	326	513
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Share issuance for purchase of property and equipment	8,950	2,531	0
Dividend from a RPT to settle the payable to that RPT	0	679	0
Payable for purchase of property and equipment	0	0	(462)
Recognition of right-of-use and lease payment liability	$ 94	$ 59	$ 2,308

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment	$ 63,542	$ 68,907
Less: impairment	(16,353)	(26,262)
Less: accumulated depreciation	(28,067)	(29,852)
Total property and equipment, net	19,302	12,883
Depreciation, Depletion and Amortization	3,954	1,334	$ 1,018
Asset Impairment Charges	0	0	$ 0
Wifi And Network Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	18,544	32,893
Office property [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	11,747	11,473
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	10,558	10,311
Digital display network equipment
Property, Plant and Equipment [Line Items]
Property and equipment	5,882	7,046
Computer and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	12,671	2,937
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	2,769	2,556
Furniture and fixture [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	785	914
Vehicle [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	586	777
Construction in Progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 180	690
Less: impairment		$ (600)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statements Of Comprehensive Loss Income
Net (loss) income	$ (17,787)	$ 6,448	$ (33,904)
Other comprehensive income (loss), net of tax of nil:
Foreign currency translation adjustment	377	(384)	381
Comprehensive (loss) income	(17,410)	6,064	(33,523)
Less: comprehensive loss attributable to non-controlling interests	(452)	(1,079)	(2,427)
Comprehensive (loss) income attributable to AirNet Technology Inc.'s shareholders	$ (16,958)	$ 7,143	$ (31,096)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

ACCOUNTS RECEIVABLE, NET (Tables)

12 Months Ended

Dec. 31, 2021

ACCOUNTS RECEIVABLE, NET.

Schedule of Accounts Receivable, Net

Accounts receivable, net, consists of the following:


	As of December 31,
	2020		2021
Accounts receivable, gross	$	14,195	$	5,408
Less: Allowance for doubtful accounts		(3,797)		(3,150)
Accounts receivable, net	$	10,398	$	2,258

Schedule of Allowance for Doubtful Accounts

Movement of allowance for doubtful accounts is as follows:


	For the years ended December 31,
	2019		2020		2021
Beginning of year	$	5,486	$	5,437	$	3,797
Addition		113		524		234
Reverse		(93)		(144)		(875)
Disposal of subsidiaries		—		(2,276)		—
Exchange rate adjustment		(69)		256		(6)
End of year	$	5,437	$	3,797	$	3,150

LONG-TERM INVESTMENTS - Schedule of Equity Method Investments (Details) (Parenthetical) $ in Thousands, ¥ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Feb. 22, 2017 CNY (¥)	Mar. 18, 2008
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 8,170	$ 11,844
Retained earnings distributed to settle payables	0	679	$ 0
Beijing Eastern Media Corporation Ltd. ("BEMC ") [Member]
Schedule of Equity Method Investments [Line Items]
Gain (loss) on investment	(57)	197	$ 562
Beijing Eastern Media Corporation Ltd. ("BEMC ") [Member] \| Parent Company [Member] \| Reportable Legal Entities [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage					51.00%
Beijing Eastern Media Corporation Ltd. ("BEMC ") [Member] \| China Eastern Media Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percentage					49.00%
Unicom AirNet (Beijing) Network Co., Ltd. ("Unicom AirNet") [Member]
Schedule of Equity Method Investments [Line Items]
Gain (loss) on investment	$ 2,945	$ 2,720
Ownership percentage				39.00%
Equity Method Investments \| ¥				¥ 117.9

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

20. RELATED PARTY TRANSACTIONS

(a)

Details of outstanding balances with the Group’s related parties as of December 31, 2020 and 2021 were as follows:

Amount due from related parties:


		As of December 31,
Name of related parties	Relationship	2020		2021
Mambo Fiesta Limited. (1)	Shareholder of the Company	$	17	$	—
Shanghai Qingxuan Co.,Ltd. (1)	Entity controlled by Mr. Herman Man Guo		1		—
Global Earning Pacific Ltd. (1)	Shareholder of the Company		2		—
Wealthy Environment Limited. (1)	Shareholder of the Company		1		—
AirMedia Holding Ltd. (1)	Entity controlled by Mr. Herman Man Guo		3		—
AirMedia Merger Company Ltd. (1)	Entity controlled by Mr. Herman Man Guo		3		—

		$	27	$	—

(1)	The amounts represent interest free advances to the related parties in a short-term basis for operation purpose.

20. RELATED PARTY TRANSACTIONS - continued

Amount due to related parties:


		As of December 31,
Name of related parties	Relationship	2020		2021

Beijing Eastern Media Corporation Ltd.	Equity method investment	$	—	$	—
Mrs. Dan Shao (1)	Principal Shareholder		1,531		—

		$	1,531	$	—

(1)

(b)	Details of transactions with the Group’s related parties for the years ended December 31, 2020 and 2021 were as follows:


	For the year ended December 31,
Transactions	2020		2021
Purchases from Beijing Eastern Media Corporation Ltd.	$	2,423	$	—

LIABILITIES FOR LITIGATION

12 Months Ended

Dec. 31, 2021

LIABILITIES FOR LITIGATION

LIABILITIES FOR LITIGATION

19. LIABILITIES FOR LITIGATION

(a)Approval for non-advertising content

A majority of the digital frames and digital TV screens in the Group’s network include programs that consist of both advertising content and non-advertising content. On December 6, 2007, the State Administration of Radio, Film or Television, or the SARFT, a governmental authority in the PRC, issued a Circular regarding Strengthening the Management of Public Audio-Video in Automobiles, Buildings and Other Public Areas, or the SARFT Circular. According to the SARFT Circular, displaying audio-video programs such as television news, films and television shows, sports, technology and entertainment through public audio-video systems located in automobiles, buildings, airports, bus or train stations, shops, banks and hospitals and other outdoor public systems must be approved by the SARFT. The Group intends to obtain the requisite approval of the SARFT for the Group’s non-advertising content, but the Group cannot assure that the Group will obtain such approval in compliance with this SARFT Circular, or at all.

In January 2014, the Group entered into a strategic alliance with China Radio International Oriental Network (Beijing) Co., Ltd ("CRION"), which manages the internet TV business of China International Broadcasting Network, to operate the CIBN-AirNet channel for broadcast network TV programs to air travelers in China. According to the terms of the cooperation arrangement with CRION, during the cooperation period from March 28, 2014 to March 27, 2024, CRION shall obtain and, from time to time, be responsible for obtaining any approval, license and consent regarding the regulation of broadcasting and television from relevant authorities.

19. LIABILITIES FOR LITIGATION - continued

There is no assurance that CRION will be able to obtain or maintain the requisite approval or the Group will be able to renew the contract with CRION when they expire. If the requisite approval is not obtained, the Group will be required to eliminate non-advertising content from the programs included in the Group’s digital frames and digital TV screens and advertisers may find the Group’s network less attractive and be unwilling to purchase advertising time slots on the Group’s network.

As of December 31, 2021, the Group did not record a provision for these matters as management believes the possibility of adverse outcome of the matters is remote and any liability it may incur would not have a material adverse effect on its consolidated financial statements. However, it is not possible for the Group to predict the ultimate outcome and the possible range of the potential impact of failure to obtain such disclosed registrations and approvals primarily due to the lack of relevant data and information in the market in this industry in the past.

(b)

AM Advertising Dispute

Linghang Shengshi had served a legal letter, dated June 29, 2016 (the “Legal Letter”), on Longde Wenchuang to challenge the proposed transfers by Longde Wenchuang of their equity interests in AM Advertising to Shanghai Golden Bridge InfoTech Co., Ltd. (stock code: 603918), a PRC company with its shares listed on the Shanghai Stock Exchange (“Golden Bridge”). As of the date of the Legal Letter, Linghang Shengshi held 24.84% of the equity interests in AM Advertising. Longde Wenchuang and Culture Center held 28.57% and 46.43%, respectively, of the equity interests in AM Advertising. On June 14, 2016, Longde Wenchuang entered into an equity interest transfer agreement with Golden Bridge to transfer 75% equity interests in AM Advertising to Golden Bridge in consideration for shares in Golden Bridge (the “Transfer”). Neither of Longde Wenchuang sought consent from Linghang Shengshi with respect to the Transfer in accordance with the provisions of the Company Law of the People’s Republic of China (the “Company Law”). Linghang Shengshi challenges the validity of the Transfer on the ground that it violated the statutory right of first refusal of Linghang Shengshi under the Company Law. Subsequent to the Group’s legal letter, Golden Bridge ceased acquisition of 75% equity interest of AM Advertising from Longde Wenchuang and Culture Center. Longde Wenchuang and Culture Center further dismissed the Group’s representative from Co-CEO position of AM Advertising.

On September 2, 2016, the Group received notice (the “September 2, 2016 Notice”) from the China International Economic and Trade Arbitration Commission (the “CIETAC”) that the Company, Chuangyi Technology, Linghang Shengshi and Mr. Herman Man Guo (collectively, the “Respondents”) were named as respondents by the Culture Center in an arbitration proceeding submitted by the Culture Center to the CIETAC in connection with the sale by the Group of 75% equity interests in AM Advertising to Culture Center and Longde Wenchuang in June 2015. Culture Center seeks specific performance by the Respondents of certain obligations under the transaction documents, which include, among other things, (i) the pledge by Linghang Shengshi and Mr. Guo of their respective equity interests in AM Advertising to Culture Center as security for their obligations under the transaction documents, (ii) the use of best efforts by the Respondents to cooperate with the Culture Center and Longde Wenchuang to procure the listing of AM Advertising in China and (iii) the performance by the Group and Mr. Guo of their respective non-compete obligations to refrain from holding, operating, or otherwise participating in any business that is the same or substantially the same as that of AM Advertising. The Group believes the arbitration request is without merit and intends to defend the actions vigorously. However, no assurances can be provided that the Group will prevail in this arbitration proceeding. In response to the September 2, 2016 Notice, the Group filed a notice against Culture Center to CIETAC for their breach of contract.

19. LIABILITIES FOR LITIGATION - continued

As a result of the above disputes, the Group is no longer able to exercise significant influence in operating and strategic decision of AM Advertising and cannot access to AM Advertising’s financial information. Accordingly, the Group accounted its investment in AM Advertising as equity investments without readily determinable fair values (see Note 7) as of December 31, 2019, 2020 and 2021. AM Advertising and its subsidiaries are no longer related parties to the Group. As of December 31, 2016, the Group treated the provision for earnout commitment of $23,549 as contingent liability and did not record any additional provision for this matter as management believes the possibility of adverse outcome of the matter is remote and any liability it may incur would not have a material adverse effect on its consolidated financial statements.

During 2018, a memorandum of understanding and various supplemental agreements (collectively the "MoU") were , were entered into with, among others, Longde Wenchuang and Beijing Cultural Center Construction and Development Fund (Limited Partnership), under which, among other things, Linghang Shengshi and Mr. Guo have agreed to pay or make available to AM Advertising on or prior to May 30, 2018 and further extended to September 30, 2018 and December 31, 2018 an aggregate of RMB304.5 million which was to be discounted by the following amounts (i) the RMB152.0 million profits attributable to Linghang Shengshi, Mr. Guo and Mr. Xu for the first nine months of 2015, based on a third-party pro forma audit report on AM Advertising; (ii) the loan of RMB88.0 million in principal balance and RMB7.8 million in interests; and (iii) the payment of RMB56.7 million in cash after the sale of the 20.32% equity interests in AM Advertising, which consisted of 20.18% equity interests hold by the Group and 0.14% equity interests hold by Mr. Man Guo and Mr. Qing Xu on behalf of the Group, and following the completion of the foregoing arrangements, the Group’s obligations with respect to the profit target for 2015, the earnout provision for the first nine months of 2015 and the loans between AM Advertising and Linghang Shengshi shall be deem completed. According to the aforesaid MoU, after Linghang Shengshi, Mr. Guo and Mr. Xu transfer all the equity interest of AM Advertising, they will cease to be shareholders of AM Advertising and will not be able to continuously assume the obligations in connection with the profit commitment and earn out provision as a matter of fact.

The sale of the 20.32% equity interests in AM Advertising (therein 20.18% was held by the Group) has been completed as of December 31,2018, while the cash payment of RMB56.7 million to Longde Wenchuang and Beijing Cultural Center Construction and Development Fund (Limited Partnership) has not been paid yet by the Group as of December 31, 2021. Upon the effectiveness of MoU, the Group has written off the contingency of provision for earnout provision, and has recorded an actual payable of earnout provision in the amount of RMB152.6 million as of December 31, 2018. On June 27, 2019, Linghang Shengshi received a letter of notification from AM Advertising requiring for the immediate payment for the net settlement of RMB 56.7 million (the “Letter”) and Linghang Shengshi responded to the Letter on June 28, 2019 by urging AM Advertising to cooperate with income tax deduction. According to an independent third-party attorney's legal opinion issued in March 2021, the MoU was still effective.

19. LIABILITIES FOR LITIGATION - continued

In January 2021, the Group was informed that two of Linghang Shengshi’s bank accounts amounted to $1 in aggregate was frozen by the court as Culture Center applied to the court regardless of the arbitration process in the CIETAC in connection with the sale by the Group of 75% equity interests in AM Advertising. The Group believes the application is non-excused as it conflicted with the arbitration proceeding already submitted by the Culture Center to the CIETAC and defended the actions by applying to the court to unfreeze Linghang Shengshi’s bank accounts. In March 2021, the Group discovered that the equity interest of AirNet Online held by Mr. Herman Man Guo and Mr. Qing Xu was frozen by the court, which was applied to the court by AM Advertising to urge all parties to settle the Transfer (the “Case”). However, the Group believes that the court has no right of jurisdiction to judge this Case as it was essentially consisted with the arbitration process in the CIETAC and would be conflicting, and the Group submitted the objection to the court. The judge of the Case has orally approved the objection and the Case will be withdrawn. As of December 31, 2021, Longde Wenchuang and Culture Center have not issued a written notice requesting the cancellation of the MoU. Therefore, the Group considered the MoU was still effective as of December 31, 2021, and the aforementioned actual payable of earnout provision remained.

In January 2022, the court gived judgement that Linghang Shengshi, Mr. Herman Man Guo and Mr. Qing Xu should pay RMB 56.7 million and interest (the "debts") to AM Advertising within 10 days of the effective date of the judgment. In addition, Chuangyi Technology and AirNet is jointly and severally liable for the debts to the AM Advertising. Linghang Shengshi, Mr. Herman Man Guo, Mr. Qing Xu and Chuangyi Technology has entered an appeal to the court. The case is currently awaiting retrial by the court. As the payable of earnout commitment of RMB 152.6 million have been adjusted since 2019 and the total amount of RMB 95.9 million of other current asset have been recorded per book, the net amount of the contingent liability was reflected in the consolidated financial statement of 2021, and no further adjustment was needed in a conclusion.