| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
24,048 | 13,888 | 5,612 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
39 | 9 | 8 | ||||
Deferred taxes | ||||||
-38 | 0 | 53 | ||||
Gain on sale of a non-operating department | ||||||
0 | 0 | 454 | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ||||||
-2,265 | 3,689 | 5,075 | ||||
Other receivables | ||||||
379 | -1,814 | 1,585 | ||||
Prepayments | ||||||
-300 | 0 | 0 | ||||
Long-term office rental deposit | ||||||
-442 | 0 | 0 | ||||
Accrued payroll | ||||||
713 | 112 | 370 | ||||
Other payables and accruals | ||||||
-8 | -24 | 0 | ||||
Tax payable | ||||||
1,638 | 2,358 | 1,668 | ||||
Accounts Payable | ||||||
66 | 0 | 0 | ||||
Net cash provided by operating activities | ||||||
27,603 | 14,470 | 597 | ||||
Cash flows from investing activities: | ||||||
Purchase of property and equipment | ||||||
191 | 0 | 42 | ||||
Payment to purchase intangible assets | ||||||
0 | 0 | 4 | ||||
Loans to third parties | ||||||
41,508 | 21,295 | 24,090 | ||||
Collection of loans to third parties | ||||||
-20,865 | -23,786 | 0 | ||||
Acquisition of Anytrust, net of cash acquired in connection of acquisition of Anytrust | ||||||
1,473 | 0 | 0 | ||||
Net cash (used in)/provided by investing activities | ||||||
-22,308 | 2,491 | -24,137 | ||||
Cash flows from financing activities: | ||||||
Borrowings from a related party | ||||||
0 | 3 | 958 | ||||
Repayment to a related party | ||||||
0 | 67 | 1,045 | ||||
Capital contribution | ||||||
0 | 0 | 24,523 | ||||
Proceeds from IPO (net of offering cost of $1,262,562 ) | ||||||
18,968 | 0 | 0 | ||||
Proceeds from exercise of underwriters warrants | ||||||
1,090 | 0 | 0 | ||||
Return of capital | ||||||
0 | -15,356 | 0 | ||||
Payments of offering costs | ||||||
417 | 326 | 0 | ||||
Net cash provided by/(used in) financing activities | ||||||
19,641 | -15,746 | 24,436 | ||||
Effect of exchange rate changes on cash | ||||||
348 | 209 | -446 | ||||
Net increase in cash | ||||||
25,284 | 1,425 | 450 | ||||
Supplemental disclosure of cash flow information | ||||||
Interest paid | ||||||
0 | 0 | 0 | ||||
Income taxes paid | ||||||
317 | 1,012 | 312 | ||||
Non- cash investing activities | ||||||
Note receivable from the sale of non-operating department | ||||||
0 | 0 | 454 | ||||
Net asset from acquisition of Anytrust | ||||||
351 | 0 | 0 | ||||
Deferred offering cost | ||||||
763 | 0 | 0 | ||||