Note J - Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Fair Value Disclosures [Text Block]

NOTE J—FAIR VALUE OF FINANCIAL INSTRUMENTS

The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2023 (in thousands):

	Quoted prices		Significant
	in active		other
	markets for		observable		Significant
	identical		remaining		unobservable
	assets (Level 1)		inputs (Level 2)		inputs (Level 3)		Total
Assets:
Cash and cash equivalents	$	45,366	$	—	$	—	$	45,366
Restricted cash		9,731		—		—		9,731
Note receivable		—		219		—		219
Total assets	$	55,097	$	219	$	—	$	55,316
Liabilities:
Bank acceptance payable		—	$	15,482		—	$	15,482
Convertible senior notes		—		76,519		—		76,519
Total liabilities	$	—	$	92,001	$	—	$	92,001

The following table presents a summary of the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2022(in thousands):

	Quoted prices		Significant
	in active		other
	markets for		observable		Significant
	identical		remaining		unobservable
	assets (Level 1)		inputs (Level 2)		inputs (Level 3)		Total
Assets:
Cash and cash equivalents	$	24,685	$	—	$	—	$	24,685
Restricted cash		10,902		—		—		10,902
Note receivable		—		339		—		339
Total assets	$	35,587	$	339	$	—	$	35,926
Liabilities:
Bank acceptance payable		—	$	12,337		—	$	12,337
Convertible senior notes		—		58,314		—		58,314
Total liabilities	$	—	$	70,651	$	—	$	70,651