v3.25.4
NOTE 14 - INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2025
INCOME TAXES  
Schedule of pre-tax loss from continuing operations before Income Tax, Domestic and Foreign [Table Text Block]

 

 

Year Ended December 31,

 

(in thousands)

 

2025

 

2024

 

Domestic

 

$

(1,492)

 

$

(4,891)

 

Foreign

 

 

(760)

 

 

(3,720)

 

Loss before income taxes

 

$

(2,252)

 

$

(8,611)

 

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

 

 

Year Ended December 31,

 

 

 

2025

 

2024

 

(in thousands)

 

 

 

 

 

 

 

Current income taxes:

 

 

 

 

 

 

 

Federal

 

$

14

 

$

 

State and local

 

 

 

 

 

Foreign

 

 

107

 

 

 

 

 

 

121

 

 

 

 

 

 

 

 

 

 

 

Deferred income taxes:

 

 

 

 

 

 

 

Federal

 

 

 

 

 

State and local

 

 

 

 

 

Foreign

 

 

(3,063)

 

 

7

 

 

 

 

(3,063)

 

 

7

 

Income tax expense (benefit)

 

$

(2,942)

 

$

7

 

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

 

 

Year Ended December 31,

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

($ in thousands)

 

 

Amount

 

 

Percent

 

 

 

Amount

 

 

Percent

 

U.S. federal statutory income tax rate

 

$

(33)

 

 

1.47

%

 

$

(1,242)

 

 

14.42

%

Statutory tax rate difference between Malta and United States

 

 

284

 

 

(12.61)

%

 

 

 

 

%

Change in valuation allowance

 

 

(4,203)

 

 

186.63

%

 

 

985

 

 

(11.44)

%

Sale of asset

 

 

472

 

 

(20.96)

%

 

 

 

 

%

Write off balances

 

 

(32)

 

 

1.42

%

 

 

 

 

%

Non-trading expenses

 

 

27

 

 

(1.20)

%

 

 

 

 

%

Other

 

 

(3)

 

 

0.13

%

 

 

50

 

 

(0.58)

%

Curacao

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statutory tax rate difference between Curacao and United Stated

 

 

(8)

 

 

0.36

%

 

 

 

 

%

Change in valuation allowance

 

 

227

 

 

(10.08)

%

 

 

 

 

%

Extraterritorial gross profit adjustment

 

 

(17)

 

 

0.75

%

 

 

 

 

%

Cyprus

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statutory tax rate difference between Cyprus and United Stated

 

 

(2)

 

 

0.09

%

 

 

 

 

%

Change in valuation allowance

 

 

(4)

 

 

0.18

%

 

 

 

 

%

British Virgin Islands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statutory tax rate difference between British Virgin Islands and United Stated

 

 

8

 

 

(0.36)

%

 

 

 

 

%

Change in valuation allowance

 

 

(96)

 

 

4.26

%

 

 

 

 

%

Nontaxable or nonincludible items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other permanent items

 

 

22

 

 

(0.98)

%

 

 

 

 

%

Forfeiture of stock options

 

 

71

 

 

(3.15)

%

 

 

 

 

%

tax shortfalls from equity award vestings

 

 

16

 

 

(0.71)

%

 

 

 

 

%

Meals & entertainment

 

 

9

 

 

(0.40)

%

 

 

 

 

%

Sale of asset

 

 

(840)

 

 

37.30

%

 

 

 

 

%

Effect of cross-border tax laws

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GIL TI

 

 

1,077

 

 

(47.82)

%

 

 

 

 

%

Provision to return differences

 

 

82

 

 

(3.64)

%

 

 

(21)

 

 

0.24

%

Statutory to US GAAP adjustments

 

 

1

 

 

(0.04)

%

 

 

(28)

 

 

0.33

%

Foreign tax rate differential

 

 

 

 

%

 

 

263

 

 

(3.05)

%

Income tax expense (benefit)

 

$

(2,942)

 

 

130.64

%

 

$

7

 

 

(0.08)

%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

 

 

December 31,

 

(in thousands)

 

2025

 

2024

 

Deferred tax assets - noncurrent:

 

 

 

 

 

 

 

Net operating loss carryforward

 

$

5,455

 

$

5,526

 

Unrealized gain or loss

 

 

286

 

 

434

 

Intangible assets

 

 

(1)

 

 

197

 

Share-based compensation

 

 

311

 

 

247

 

Other

 

 

5

 

 

6

 

PPE

 

 

26

 

 

 

Less: valuation allowance net of release

 

 

(2,897)

 

 

(6,410)

 

Total deferred tax assets

 

 

3,185

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Gaming License

 

 

(829)

 

 

 

Net deferred tax assets (liabilities)

 

$

2,356

 

$

 

Summary of Operating Loss Carryforwards [Table Text Block]

 

 

Year Ended December 31,

(in thousands)

 

2025

 

 

Expiration

 

 

2024

 

 

Expiration

US net operating loss carryforwards

 

$

4,210

 

 

     Indefinite

 

 

$

4,639

 

 

Indefinite

Foreign net operating loss carryforwards (Malta)

 

 

8,078

 

 

     Indefinite

 

 

 

9,867

 

 

   Indefinite

Foreign net operating loss carryforwards (Curacao)

 

 

7,163

 

 

2025-2035

 

 

 

5,797

 

 

2024-2034

Foreign net operating loss carryforwards (Cyprus)

 

 

10

 

 

2027-2030

 

 

 

42

 

 

2027-2029

 

 

$

19,461

 

 

 

 

 

$

20,345