Note 11 - Foreign Operations

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Additional Financial Information Disclosure [Text Block]

11. FOREIGN OPERATIONS

In

2003,

we established a subsidiary of CoreCard Software in Romania for software development and testing activities. In

2006,

we established a subsidiary in India for additional software development and testing activities as well as support for processing operations. In

October 2020,

we opened offices in Dubai, United Arab Emirates and Chennai, India to support CoreCard's expansion of processing services into new markets in the Asia Pacific, Middle East, Africa and European regions. The new offices include engineering, support, and business professionals with significant payments industry experience and experience operating CoreCard's Processing platforms in the related regions. With the exception of a facility in India which was acquired in

2007

to house our India-based employees and which had a net book value of

$156,000

and

$153,000

at

December 31, 2020

and

2019,

respectively, substantially all long-lived assets are in the United States.

At

December 31, 2020

and

2019,

continuing operations of foreign subsidiaries had assets of

$1,958,000

and

$1,226,000,

respectively, and total liabilities of

$1,754,000

and

$1,267,000,

respectively. The majority of these assets and liabilities are in India. There are

no

currency exchange restrictions related to our foreign subsidiaries that would affect our financial position or results of operations. Refer to Note

1

for a discussion regarding how we account for translation of non-U.S. currency amounts.