Note 2 - Discontinued Operations

12 Months Ended

Dec. 31, 2025

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

2.	Discontinued Operations

During the fourth quarter of 2023 the Company decided to phase out the product business and as a consequence terminate production at the Pronode Technologies AB facilities in Kungsbacka, Sweden. Subsequently, we commenced the phase out of our TSM product business during the first quarter of 2024 through licensing of the TSM technology to strategic partners or outsourcing. In May 2024, we stopped producing TSMs and started to shut down the factory. The facility lease terminated as of September 30, 2024 and was not renewed.

The Company concluded that the termination of TSM manufacturing met the criteria for discontinued operations. As a result, this business has been reclassified to discontinued operations in these consolidated financial statements for all periods presented.

Assets and Liabilities of Discontinued Operations

Assets and liabilities of discontinued operations are presented separately in the consolidated balance sheets for all periods presented. On December 31, 2025 and December 31, 2024, these balances consisted of assets and liabilities of the Company’s Products business.

The following table presents a reconciliation of the carrying amounts of the major classes of these assets and liabilities to the assets and liabilities of discontinued operations as presented on the Company’s consolidated balance sheets (in thousands):

		December 31, 2025				December 31, 2024
ASSETS OF DISCONTINUED OPERATIONS
Current assets of discontinued operations:
Accounts receivable and unbilled revenues, net		$	41			$	-
Total current assets of discontinued operations			41				-
Total assets of discontinued operations		$	41			$	-

Loss from Discontinued Operations

Discontinued operations for the years ended December 31, 2025 and 2024, respectively, consist of results from the Company’s products business.

The following table provides details about the major classes of line items constituting “Income (loss) from discontinued operations” as presented on the Company’s consolidated statements of operations (in thousands):

		Years ended December 31,
		2025				2024
Revenues:
Products		$	361			$	1,171
Total revenues			361				1,171

Cost of revenues:
Products			48				989
Total cost of revenues			48				989
Gross margin			313				182

Operating expenses:
Sales and marketing			(143	)			165
General and administrative			-				590
Total operating expenses			(143	)			755

Operating income (loss)			456				(573	)
Other income (expense), net			-				(18	)
Loss before provision for income taxes			456				(591	)
Income (loss) from discontinued operations		$	456			$	(591	)

Cash Flows Information

The following table presents cash flow information for discontinued operations:

		Years ended December 31,
		2025				2024
Depreciation and amortization		$	-			$	19
Amortization of operating lease ROU assets			-				52
Inventory impairment loss			-				357
Bad debt expense			-				172
Proceeds from sale of property and equipment			-				190