v3.26.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 4,535 $ 7,459
Restricted cash and cash equivalents 14,317 0
Accounts receivable, net 3,360 3,130
Inventories, net 360 342
Prepaid expenses and other current assets 1,344 1,976
Total current assets 23,916 12,907
Property, plant and equipment:    
Cost 133,751 125,613
Less accumulated depreciation (75,270) (72,666)
Property, plant and equipment, net 58,481 52,947
Goodwill 4,314 4,314
Investments in foreign joint ventures 11,528 11,946
Right-of-use assets and other noncurrent assets 1,113 996
Total assets 99,352 83,110
Current liabilities:    
Accounts payable 9,081 4,750
Accrued liabilities 3,611 2,858
Current portion of long-term notes payable 1,418 1,931
Deferred revenue, current 680 1
Current portion of finance and operating lease obligations 221 417
Total current liabilities 15,011 9,957
Long-term notes payable, net of current portion and debt issuance costs 6,064 5,755
Deferred revenue, noncurrent 19,320 0
Long-term portion of operating lease obligations 521 726
Total liabilities 40,916 16,438
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock; $0.001 par value, 1,000,000 shares authorized, no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock; $0.001 par value, 37,500,000 shares authorized, 18,596,301 and 18,596,301 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 19 19
Additional paid-in capital 103,644 103,644
Accumulated other comprehensive income 487 10
Accumulated deficit (45,714) (37,001)
Total stockholders’ equity 58,436 66,672
Total liabilities and stockholders’ equity $ 99,352 $ 83,110