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Note 6 - Investment in Foreign Joint Venture - Schedule of Activity in Investment in Foreign Joint Ventures (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Balance at December 31, 2023     $ 12,009    
Equity in earnings $ 340 $ 741 587 $ 1,134  
Less: dividend distributions, undistributed earnings     (1,716) $ (813)  
Balance at June 30, 2024 10,541   10,541    
Original basis difference 1,165   1,165   $ 1,165
Less accumulated accretion (637)   (637)   (573)
Net remaining basis difference at end of period 528   528   $ 592
Bomay [Member]          
Balance, initial investment [1],[2]     9,333    
Balance, undistributed earnings     2,967    
Balance, foreign exchange translation     (291)    
Balance at December 31, 2023     12,009    
Equity in earnings, undistributed earnings     587    
Equity in earnings     587    
Less: dividend distributions, undistributed earnings     (1,716)    
Foreign currency translation gain (loss), foreign exchange translation     (339)    
Balance, initial investment [1],[2] 9,333   9,333    
Balance, undistributed earnings 1,838   1,838    
Balance, foreign exchange translation (630)   (630)    
Balance at June 30, 2024 $ 10,541   $ 10,541    
[1] Accumulated statutory reserves in equity method investments of $2.7 million at June 30, 2024 and December 31, 2023 is included in our investment in BOMAY. In accordance with the People’s Republic of China, (“PRC”) regulations on enterprises with foreign ownership, an enterprise established in the PRC with foreign ownership is required to provide for certain statutory reserves, namely (i) General Reserve Fund, (ii) Enterprise Expansion Fund and (iii) Staff Welfare and Bonus Fund, which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts. A non-wholly-owned foreign invested enterprise is permitted to provide for the above allocation at the discretion of its board of directors. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends.
[2] The Company’s initial investment in BOMAY differed from the Company’s 40% share of BOMAY’s equity as a result of applying fair value accounting pursuant to ASC 805. The basis difference is being accreted over an original period of nine years (the expected life of the joint venture). The Company's accretion during the six months ended June 30, 2024 and 2023 both totaled approximately $65 thousand each, respectively, and is included in income from equity investment in foreign joint venture in the accompanying Condensed Consolidated Statements of Operations. The remaining basis difference, net of accumulated accretion at June 30, 2024 and December 31, 2023 is summarized in the following table (in thousands):