Note 10 - Taxation (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2019		2018
Earnings before income tax	$	2,626,796	$	—
Expected tax		—		—
Foreign taxes at local expected rates		48,277		29,000
Change in deferred tax asset of US subsidiary		166,000		—
Deferred tax expense from enacted rate reductions		—		—
Change in valuation allowance		—		(2,730,000	)
Net tax expense (benefit)	$	214,277	$	(2,701,000	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2019			2018
Capitalized start-up expenses	$	73,000		$	87,000
Operating loss carryforwards		1,769,000			1,800,000
Unearned commission income		74,000			91,000
Accrued interest to parent		650,000			764,000
Depreciation and amortization		(2,000	)		(12,000	)
Deferred tax assets	$	2,564,000		$	2,730,000