Note 6 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	2024		2025
	$		$
Cayman Islands		3,613		2,129
U.S.		2,023		3,023
PRC		975		596
BVI		2,158		2,877
Loss before income tax	$	8,769	$	8,625

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2024			2025
	$			$
Current income tax		(96	)		(90	)
Deferred income tax		-			-
Income tax expense		(96	)		(90	)

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

	2024
	Amount $			Percent of Pretax Income
Loss before income tax		8,769
Expected income tax benefit	$	1,841			21.0	%
Tax rate differential		(1,138	)		-13.0	%
Non-deductible expenses		(20	)		-0.2	%
Research tax credits		(79	)		-0.9	%
Preferential rate		(166	)		-1.9	%
Current and deferred tax rate differences		147			1.7	%
Stock compensation expense-windfall		(44	)		-0.5	%
Research and development super-deduction		424			4.8	%
UTP - interest expense		(525	)		-6.0	%
Others		41			0.5	%
Changes in valuation allowance		(577	)		-6.6	%
Income tax expense		(96	)		-1.1	%

	2025
	Amount			Percent of Pretax
	$			Income
Loss before income tax		8,625
Expected income tax benefit	$	1,811			21.0	%
Foreign tax effects
Cayman
Statutory tax rate difference between Cayman and United States		(447	)		-5.2	%
BVI
Statutory tax rate difference between BVI and United States		(604	)		-7.0	%
PRC
Statutory tax rate difference between PRC and United States		165			1.9	%
Statutory GAAP prior year adjustment		310			3.6	%
Research and development		442			5.1	%
Change in valuation allowance		(1,033	)		-12.0	%
Other		(9	)		-0.1	%
Nontaxable or non-deductible items
Stock Compensation Expense		(34	)		-0.4	%
Other		(9	)		0.1	%
Tax Credits
Research and development tax credits		86			1.0	%
Change in unrecognized tax benefits		(2,318	)		-26.9	%
Changes in valuation allowance		1,551			18.0	%
Income tax expense		(90	)		-1.0	%

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

	December 31, 2025
	2024			2025
	$			$
Deferred tax assets:
Net operating loss carryforward		28,181			29,675
Capitalization of R&D expense under PRC tax		6,729			6,749
Section 174 mandatory R&E capitalization		2,870			2,152
Share-based compensation		1,695			756
Deferred incentive compensation		15			19
Research tax credits		5,403			5,489
Lease liability obligation		124			71
Deferred revenue		6,075			5,652
Accruals and reserves		48			76
Deferred tax assets from discontinued operations		7,855			10,682
Total deferred tax assets		58,995			61,321
Deferred tax liabilities:
Depreciation		(29	)		(20	)
Unrealized gain/loss		(41	)		(68	)
Right of use lease assets		(108	)		(62	)
Deferred tax liabilities from discontinued operations		(1,005	)		(909	)
Total deferred tax liabilities		(1,183	)		(1,059	)
Total gross deferred tax assets		57,812			60,262
Less: valuation allowance		(57,812	)		(60,262	)
Net deferred tax assets		-			-

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	Year Ended December 31,
	2024			2025
		$			$
Beginning balance, as of January 1		3,194			3,053
Additions based on tax positions related to prior tax years		197			7,842
Reductions based on tax positions related to prior tax years		(434	)		(435	)
Additions based on tax positions related to current tax year		96			-
Ending balance, as of December 31
		3,053			10,460