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Note 12 - Income Taxes (Tables)

12 Months Ended

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	)

X

- 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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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