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v3.22.2.2

Note 12 - Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2022
Notes Tables |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] |
|  | Year ended June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
United States |  | $ | 7,621 |  |  | $ | 17,889 |
Canada |  |  | (525 | ) |  |  | 19,549 |
Total |  | $ | 7,096 |  |  | $ | 37,438 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Year ended June 30, |
|  |  |  |  |  | % of |  |  |  |  |  |  | % of |
(dollars in thousands) |  | 2022 |  |  | Pretax |  |  | 2021 |  |  | Pretax |
Tax expense at statutory rate |  | $ | 1,490 |  |  |  | 21.0 | % |  | $ | 7,862 |  |  |  | 21.0 | %
Tax expense (benefit) from change in foreign unrealized gain/loss |  |  | (281 | ) |  |  | (4.0 | )% |  |  | 281 |  |  |  | 0.7 | %
Non-taxable investment income (loss) |  |  | 294 |  |  |  | 4.2 | % |  |  | (3,302 | ) |  |  | (8.8 | )%
Change in valuation allowance |  |  | - |  |  |  | 0.0 | % |  |  | (2,762 | ) |  |  | (7.4 | )%
Income from controlled foreign corporation |  |  | 307 |  |  |  | 4.3 | % |  |  | 3,534 |  |  |  | 9.4 | %
Rate difference on foreign deferred income (loss) |  |  | (262 | ) |  |  | (3.7 | )% |  |  | 777 |  |  |  | 2.1 | %
Rate difference on foreign income (loss) |  |  | (29 | ) |  |  | (0.4 | )% |  |  | 1,075 |  |  |  | 2.9 | %
Foreign tax credit |  |  | (153 | ) |  |  | (2.2 | )% |  |  | (1,825 | ) |  |  | (4.9 | )%
Other |  |  | 231 |  |  |  | 3.3 | % |  |  | (163 | ) |  |  | (0.4 | )%
Total tax expense |  | $ | 1,597 |  |  |  | 22.5 | % |  | $ | 5,477 |  |  |  | 14.6 | %
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Year ended June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Current tax expense - U.S. Federal |  | $ | 3,886 |  |  | $ | 2,004 |
Current tax expense - Non-U.S. |  |  | 154 |  |  |  | 2,418 |
Deferred tax expense (benefit) - U.S. Federal |  |  | (2,209 | ) |  |  | 576 |
Deferred tax expense (benefit) - Non-U.S. |  |  | (234 | ) |  |  | 479 |
Total tax expense |  | $ | 1,597 |  |  | $ | 5,477 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | June 30, |
(dollars in thousands) |  | 2022 |  |  | 2021 |
Deferred Income Tax Assets: |  |  |  |  |  |  |  |
Accumulated depreciation |  | $ | 102 |  |  | $ | 110 |
Investments in securities at fair value |  |  | 217 |  |  |  | - |
Accrued expenses |  |  | 407 |  |  |  | 320 |
Product start-up costs |  |  | 99 |  |  |  | 84 |
Stock-based compensation expense |  |  | 164 |  |  |  | - |
Other |  |  | 16 |  |  |  | 25 |
Total Deferred Tax Assets |  |  | 1,005 |  |  |  | 539 |
Deferred Income Tax Liabilities: |  |  |  |  |  |  |  |
Investments in securities at fair value |  | $ | - |  |  | $ | (2,600 | )
Prepaid expenses |  |  | (64 | ) |  |  | (60 | )
Other investments |  |  | (430 | ) |  |  | (389 | )
Equity method investments |  |  | - |  |  |  | (40 | )
Foreign tax on undistributed earnings |  |  | (259 | ) |  |  | (249 | )
Total Deferred Tax Liabilities |  |  | (753 | ) |  |  | (3,338 | )
Net Deferred Tax Asset (Liability) |  | $ | 252 |  |  | $ | (2,799 | )

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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