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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

X

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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