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v3.25.1

Note 3 - Discontinued Operations (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Notes Tables |
Disposal Groups, Including Discontinued Operations [Table Text Block] |
|  | As of |
|  | December 31, 2024 |  |  | March 31, 2025 |
|  |  |  |  |  | (Unaudited) |
Assets |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 13,125 |  |  | $ | 11,631 |
Short-term investments |  |  | 12,044 |  |  |  | 10,807 |
Advances to suppliers |  |  | 86 |  |  |  | 43 |
Prepaid expenses and other current assets |  |  | 92 |  |  |  | 144 |
Total current assets |  |  | 25,347 |  |  |  | 22,625 |
Noncurrent assets: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | 1,323 |  |  |  | 1,314 |
Operating right-of-use assets |  |  | 3,182 |  |  |  | 3,058 |
Other noncurrent assets |  |  | 268 |  |  |  | 278 |
Total noncurrent assets |  |  | 4,773 |  |  |  | 4,650 |
Total assets |  | $ | 30,120 |  |  | $ | 27,275 |
Liabilities and equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Short-term loans |  | $ | 3,911 |  |  | $ | 3,934 |
Accounts payable |  |  | 505 |  |  |  | 465 |
Accrued expenses |  |  | 1,354 |  |  |  | 2,110 |
Current portion of operating lease liabilities |  |  | 400 |  |  |  | 407 |
Deferred revenue |  |  | 2,001 |  |  |  | 2,001 |
Other current liabilities |  |  | 642 |  |  |  | 816 |
Total current liabilities |  |  | 8,813 |  |  |  | 9,733 |
Noncurrent liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  | 2,375 |  |  |  | 2,271 |
Deferred revenue |  |  | 3,822 |  |  |  | 3,322 |
Total noncurrent liabilities |  |  | 6,197 |  |  |  | 5,593 |
Total liabilities |  | $ | 15,010 |  |  | $ | 15,326 |
| Three months ended March 31, |
| 2024 |  | 2025 |
| (Unaudited) |  | (Unaudited) |
Revenue | $ | 500 |  | $ | 500 |
Operating expenses |  |  |  |  |  |
Research and development |  | (1,174 | ) |  | (2,989 | )
General and administrative |  | (563 | ) |  | (864 | )
Loss from operations |  | (1,237 | ) |  | (3,353 | )
Interest income |  | 4 |  |  | 68 |
Other income, net |  | 25 |  |  | 53 |
Loss before income tax |  | (1,208 | ) |  | (3,232 | )
Income tax expense |  | - |  |  | - |
Loss from discontinued operations before disposal |  | (1,208 | ) |  | (3,232 | )
Gain on sale of subsidiary interests |  | - |  |  | 6,986 |
Net income (loss) from discontinued operations | $ | (1,208 | ) | $ | 3,754 |
|  | Three months ended March 31, |
|  | 2024 |  |  | 2025 |
|  | (Unaudited) |  |  | (Unaudited) |
Net cash used in discontinued operating activities |  | $ | (1,522 | ) |  | $ | (2,494 | )
Net cash provided by discontinued investing activities |  | $ | - |  |  | $ | 950 |
Net cash provided by discontinued financing activities |  | $ | - |  |  | $ | - |
|  | Gain recognized on the First Closing |
Fair value of consideration received |  | $ | 7,354 |
Less: Adjustments to noncontrolling interests (6.75% of the equity interests) |  |  | 368 |
Gain on sale of subsidiary interests |  | $ | 6,986 |

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