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Note 2 - Acquisitions | 12 Months Ended
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Dec. 31, 2025
Notes to Financial Statements |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | Note 2 – Acquisitions Business Combinations Ready Temporary Staffing On December 30, 2024, we completed our acquisition of certain assets of RTS with the terms of an Asset Purchase Agreement dated December 13, 2024, including two locations in Colorado, for $1.4 million. The acquisition of RTS expanded our presence in Colorado and grew our franchise base. The fair values of the assets acquired and liabilities assumed were determined based on information available to us. The following table summarizes the values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands).
Cash consideration |  | $ | 1,400 |
Total consideration |  | $ | 1,400 |
Customer lists |  | $ | 490 |
Accounts receivable |  |  | 374 |
Property and equipment |  |  | 35 |
Goodwill |  |  | 558 |
Other current liabilities |  |  | (47 | )
Accounts payable |  |  | (10 | )
Purchase price |  | $ | 1,400 |
Goodwill represents the expected synergies with our existing business, the acquired assembled workforce, potential new customers, and future cash flows after the acquisition of RTS. Goodwill is deductible for income tax purposes. The following table presents unaudited pro forma information (in thousands, except per share data) assuming (a) the acquisition of RTS had occurred on January 1, 2023, (b) all of RTS’ operations had been converted to franchises on such date, and (c) none of the other acquisitions discussed in this Note 2 had occurred. The unaudited pro forma information is not necessarily indicative of the results of operations that would have been achieved if the acquisition had in fact taken place on that date.
|  | Year Ended |
|  | December 31, |  |  | December 31, |
Unaudited (in thousands except per share data) |  | 2025 (actual) |  |  | 2024 |
Total revenue |  | $ | 30,640 |  |  | $ | 35,627 |
Net income |  |  | 6,330 |  |  |  | 3,951 |
Basic earnings per share |  | $ | 0.45 |  |  | $ | 0.29 |
Basic weighted average shares outstanding |  |  | 13,957 |  |  |  | 13,838 |
Diluted earnings per share |  | $ | 0.45 |  |  | $ | 0.28 |
Diluted weighted average shares outstanding |  |  | 13,979 |  |  |  | 13,920 |
These calculations reflect increased amortization expense, increased SG&A expense, the elimination of losses associated with the transaction, and the consequential tax effects that would have resulted had the acquisition closed on January 1, 2023. In connection with the acquisition, we sold certain assets related to the operations of the acquired locations to a related party. In connection with the purchase, the buyer executed a franchise agreements with us related to the RTS locations. The aggregate sale price for the operating assets was approximately $617 thousand. In conjunction with the sale of assets acquired in this transaction, we recognized a gain of approximately $139 thousand which is reflected on the line item, "Other miscellaneous income (expense)," in our consolidated statement of income. For more information see Note 3 - Related Party Transactions regarding the Worlds Franchisees. Asset Acquisitions EPIC Labor On September 30, 2024 we completed our acquisition of the customer relationships of EPIC Labor ("EPIC") in accordance with the terms of the Asset Purchase Agreement dated September 30, 2024. EPIC was a premier provider of healthcare and life science staffing services to the employers in Arkansas for over 25 years. The following table summarizes the estimated fair values of the identifiable assets acquired as of the acquisition date (in thousands):
Cash consideration |  | $ | 300 |
Total consideration |  | $ | 300 |
Customer relationships |  | $ | 300 |
We determined the EPIC transaction was an asset acquisition for accounting purposes as substantially all of the fair value of the gross assets acquired was concentrated in the customer relationships. Accordingly, no pro forma financial information is presented. Immediately after the acquisition, we sold all of the assets acquired. In connection with their purchase, the buyers executed franchise agreements with us and became franchisees. The aggregate sale price for the assets was approximately $200 thousand. In conjunction with the sale of assets acquired in this transaction, we recognized a loss of approximately $100 thousand which is reflected on the line item, "Other miscellaneous expense," in our consolidated statement of income.

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/805/tableOfContent + Details
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