Annual report pursuant to Section 13 and 15(d)

Note 7 - Income Taxes (Tables)

v3.25.0.1
Note 7 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2024
Notes Tables  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
   

Year Ended December 31,

 
   

2024

   

2023

 

Domestic

  $ (993 )   $ (1,182 )

Foreign

    1,613       1,927  

Income before income taxes

  $ 620     $ 745  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

Year Ended December 31,

 
   

2024

   

2023

 

Current taxes:

               

Federal

  $ (24 )   $ 73  

State

    11       13  

Foreign

    34       269  

Total current taxes

    21       355  
                 

Deferred taxes:

               

Federal

    (83 )     (4 )

State

    1       (5 )

Foreign

    109       (169 )

Total deferred taxes

    27       (178 )

Income tax provision

  $ 48     $ 177  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

Year Ended December 31,

 
   

2024

   

2023

 

Income tax at federal statutory rate

  $ 130     $ 156  

Section 162(m) limitation

    58       94  

Subpart F inclusion

    43       68  

Stock-based compensation

    26       30  

Other permanent differences

    3       3  

U.S. foreign income inclusions

    (18 )     90  

Change in valuation allowance

    89       67  

Foreign rate differential

    (293 )     (334 )

Other reconciling items

    10       3  

Income tax provision

  $ 48     $ 177  
Income Tax Foreign Rate Differential [Table Text Block]
           

Year Ended December 31,

 
   

Statutory Tax Rate

   

2024

   

2023

 

Cayman Islands

    %   $ 1,535     $ 2,005  

Hong Kong

    16.5 %     745       665  

China

    25.0 %     (124 )     48  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

December 31,

 
   

2024

   

2023

 

Deferred tax assets:

               

Net operating losses

  $ 700     $ 600  

Operating lease liabilities

    325       384  

Other

    82       83  

Total deferred tax assets

    1,107       1,067  

Valuation allowance

    (391 )     (302 )

Net deferred tax assets

    716       765  
                 

Deferred tax liabilities:

               

Operating lease assets

    (297 )     (356 )

Foreign deferreds

    (173 )     (135 )

Prepaids

    (35 )     (35 )

Other

    (3 )     (5 )

Total deferred tax liabilities

    (508 )     (531 )

Net deferred tax assets

  $ 208     $ 234