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Note 6 - Assets Held for Sale
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Long-lived Assets Held for Sale Disclosure [Text Block]
NOTE
6—ASSETS
HELD FOR SALE
 
In
July 2015,
the Company announced a restructuring plan, effective
August 2, 2015,
that included the closure of its Johor, Malaysia facility. Subsequent to the announcement, the Company engaged advisors and was actively trying to sell its land-use right, building and other fixed assets located at the facility.
 
On
November 1, 2018,
the Company received a non-binding letter of intent from a potential buyer for its Johor, Malaysia facility for
RM22,500
(approximately
$5,336,
after realtor fees, as of
June 30, 2019)
and subsequently entered into a Purchase and Sale Agreement with this buyer effective
January 10, 2019.
The agreement provides that the closing of the sale is subject to various customary and regulatory approvals and conditions, including the approval of the Johor Port Authority. The agreement further provides that if the closing did
not
occur within
six
months either party
may
terminate the agreement, however the Company and the buyer have agreed to extend the closing window by an additional
six
months to allow for potential delays in obtaining the necessary approvals. The sale of the property is part of the Company’s focus to reduce its footprint and operating costs.
 
In accordance with ASC
360
-Property, Plant and Equipment, the Company assessed the asset group attributed to the sale for impairment. Based upon the Company’s assessment of the status of the Malaysia property, plant and equipment, all of the requirements (including the held for sale requirements) set forth in ASC
360
-
10
-
45
-
9
were met and the assets were classified on the Condensed Consolidated Balance Sheet as of
June 30, 2019
and
December 
31,
2018
as assets held for sale.