| Segment Reporting Disclosure [Text Block] |
Note 9 - Segment Reporting
The Company currently operates in three segments: (1) "Digital Assets," which represents the business surrounding our treasury activity with Bittensor, (2) “Managed Services,” which represents the business surrounding managed services for video collaboration and network solutions, and (3) “Collaboration Products,” which represents the business surrounding our Mezzanine™ product offerings.
For each of the years ended December 31, 2025, and 2024, the CODM for three and two segments, respectively, was Pete Holst, the Company's President and Chief Executive Officer. Management reviewed the information provided to the CODM and updated the presentation of that information, including Significant Segment Expenses ("SSEs").
Certain information concerning the Company’s segments for the years ended December 31, 2025, and 2024 is presented in the following tables (in thousands):
| | | For the Years Ended December 31, | |
| | | 2025 | | | 2024 | | | % Change | |
| Revenue | | | | | | | | | | | | |
| Digital Assets | | $ | 186 | | | $ | — | | | | 100 | % |
| Managed Services | | | 1,957 | | | | 2,062 | | | | (5 | )% |
| Collaboration Products | | | 294 | | | | 316 | | | | (7 | )% |
| Consolidated | | $ | 2,437 | | | $ | 2,378 | | | | 2 | % |
| | | | | | | | | | | | | |
| Cost of revenues | | | | | | | | | | | | |
| Digital Assets | | $ | 24 | | | $ | — | | | | 100 | % |
| Managed Services | | | 1,384 | | | | 1,337 | | | | 4 | % |
| Collaboration Products | | | 15 | | | | 710 | | | | (98 | )% |
| Consolidated | | $ | 1,423 | | | $ | 2,047 | | | | (30 | )% |
| | | | | | | | | | | | | |
| Gross Margin | | | | | | | | | | | | |
| Digital Assets | | $ | 162 | | | $ | — | | | | 100 | % |
| Managed Services | | | 573 | | | | 725 | | | | (21 | )% |
| Collaboration Products | | | 279 | | | | (394 | ) | | | (171 | )% |
| Consolidated | | $ | 1,014 | | | $ | 331 | | | | 206 | % |
| | | | | | | | | | | | | |
| Operating expenses | | | | | | | | | | | | |
| Digital Assets (1) | | $ | 209 | | | $ | — | | | | 100 | % |
| Managed Services (2) | | | — | | | | — | | | | 0 | % |
| Collaboration Products (3) | | | 11 | | | | 341 | | | | (97 | )% |
| Corporate (4) | | | 3,756 | | | | 4,192 | | | | (10 | )% |
| Consolidated | | $ | 3,976 | | | $ | 4,533 | | | | (12 | )% |
| | | | | | | | | | | | | |
| Other income (expense), net | | | | | | | | | | | | |
| Digital Assets (5) | | $ | (3,519 | ) | | $ | — | | | | (100 | )% |
| Managed Services (6) | | | — | | | | (1 | ) | | | (100 | )% |
| Collaboration Products (6) | | | — | | | | 16 | | | | 100 | % |
| Corporate (7) | | | 128 | | | | 154 | | | | (17 | )% |
| Consolidated | | $ | (3,391 | ) | | $ | 169 | | | | (2107 | )% |
| Net loss before taxes | | $ | (6,353 | ) | | $ | (4,033 | ) | | | 58 | % |
| Income tax expense | | $ | 2 | | | $ | 10 | | | | (80 | )% |
| Net loss | | $ | (6,355 | ) | | $ | (4,043 | ) | | | 57 | % |
| | | | | | | | | | | | | |
| | | As of December 31, | |
| Total assets | | 2025 | | | 2024 | | | % Change | |
| Digital Assets (8) | | $ | 5,562 | | | $ | — | | | | 100 | % |
| Managed Services (9) | | | 401 | | | | 422 | | | | (5 | )% |
| Collaboration Products (10) | | | 258 | | | | 285 | | | | (9 | )% |
| Corporate (11) | | | 1,998 | | | | 4,568 | | | | (56 | )% |
| Consolidated | | $ | 8,219 | | | $ | 5,275 | | | | 56 | % |
| (1) | Operating expenses related to our Digital Assets segment include cash and stock-based advisory fees. |
| (2) | There were no operating expenses related to our Managed Service segment in 2025 and 2024. |
| (3) | Operating expenses related to our Collaboration Products segment include non-capitalized software costs and commission expenses. In 2025 and 2024, $18,000 in bad debt recovery and $2,000 in bad debt expense were recorded, respectively. |
| (4) | Corporate operating expenses include costs that are not specific to a particular segment but are general to the group. These include expenses for administrative, information technology, and accounting staff; general liability and other insurance; professional fees; and similar corporate expenses. |
| (5) | Other expense for our Digital Assets segment includes unrealized losses from revaluations of our digital assets. |
| (6) | Other income (expense) for Managed Services and Collaboration Products segments include interest expense and non-operating income. |
| (7) | Unallocated other income in Corporate is primarily related to interest income. |
| (8) | Digital Asset assets include the fair value of the Company's digital asset holdings as of the end of the period, and unamortized stock-based advisor expense. |
| (9) | Managed Services assets include cash equivalents, accounts receivable, and prepaid expenses. |
| (10) | Collaboration Products' assets include cash equivalents and prepaid expenses. |
| (11) | Unallocated assets in Corporate include cash and prepaid expenses that are corporate in nature and don't apply to a single segment. |
The Company's SSEs for our Digital Assets segment include cash and non-cash transaction fees, cash and stock-based advisory expenses, and unrealized losses on revaluation. The Company’s SSEs for our Managed Services and Collaboration Products segments include direct labor costs and segment-based management expenses (collectively, “labor and labor-related”), circuit and network cost of revenue, other non-inventory cost of revenue, research and development costs, and bad debt (recovery) expense. These are specific costs regularly provided to the CODM and used to evaluate segment performance. Other segment items include expenses recorded within cost of revenue and operating expenses, which are not regularly provided to the CODM. The CODM evaluates segment profit each period against historical results, factoring in macroeconomic factors such as labor and supply costs, to assess segment performance.
| | | Year Ended December 31, 2025 | |
| | | Digital Assets | | | Managed Services | | | Collaboration Products | | | Total | |
| | | | | | | | | | | | | | | | | |
| Revenue | | | | | | | | | | | | | | | | |
| Digital Assets | | $ | 186 | | | $ | — | | | $ | — | | | $ | 186 | |
| Network Services | | | — | | | | 1,898 | | | | — | | | | 1,898 | |
| Video Collaboration | | | — | | | | 44 | | | | 294 | | | | 338 | |
| Professional and other services | | | — | | | | 15 | | | | — | | | | 15 | |
| Total revenue | | | 186 | | | | 1,957 | | | | 294 | | | | 2,437 | |
| | | | | | | | | | | | | | | | | |
| Significant Segment Expenses | | | | | | | | | | | | | | | | |
| Labor and labor-related (1) | | | — | | | | 261 | | | | 19 | | | | 280 | |
| Property and office expense | | | — | | | | — | | | | 21 | | | | 21 | |
| Cash digital asset transaction fees | | | 16 | | | | — | | | | — | | | | 16 | |
| Non-cash digital asset transaction fees | | | 8 | | | | — | | | | — | | | | 8 | |
| Stock-based expense | | | 169 | | | | — | | | | — | | | | 169 | |
| Circuit and network cost of revenue | | | — | | | | 1,123 | | | | — | | | | 1,123 | |
| Advisory fees | | | 40 | | | | — | | | | — | | | | 40 | |
| Unrealized loss on digital asset revaluation | | | 3,519 | | | | — | | | | — | | | | 3,519 | |
| Bad debt recovery | | | — | | | | — | | | | (18 | ) | | | (18 | ) |
| Other segment items (2) | | | — | | | | — | | | | 4 | | | | 4 | |
| Segment profit (loss) | | $ | (3,566 | ) | | $ | 573 | | | $ | 268 | | | $ | (2,725 | ) |
| Segment margin | | | (1917 | )% | | | 29 | % | | | 91 | % | | | | |
| | | | | | | | | | | | | | | | | |
| Unallocated expenses (income) | | | | | | | | | | | | | | | | |
| Corporate expenses (3) | | | | | | | | | | | | | | $ | 3,756 | |
| Interest income | | | | | | | | | | | | | | | (128 | ) |
| Loss before income tax expense | | | | | | | | | | | | | | $ | (6,353 | ) |
| | | | | | | | | | | | | | | | | |
| | | Year Ended December 31, 2024 | |
| | | Managed Services | | | Collaboration Products | | | Total | |
| | | | | | | | | | | | | |
| Revenue | | | | | | | | | | | | |
| Network services | | $ | 1,990 | | | $ | — | | | $ | 1,990 | |
| Video collaboration | | | 56 | | | | 316 | | | | 372 | |
| Professional and other services | | | 16 | | | | — | | | | 16 | |
| Total revenue | | | 2,062 | | | | 316 | | | | 2,378 | |
| | | | | | | | | | | | | |
| Significant Segment Expenses | | | | | | | | | | | | |
| Labor and labor-related (1) | | | 132 | | | | 550 | | | | 682 | |
| Severance | | | — | | | | 46 | | | | 46 | |
| Circuit and network cost of revenue | | | 1,202 | | | | — | | | | 1,202 | |
| Inventory and inventory-related | | | — | | | | 273 | | | | 273 | |
| Other non-inventory cost of revenue | | | 4 | | | | 19 | | | | 23 | |
| Research and development | | | — | | | | 145 | | | | 145 | |
| Bad debt expense | | | — | | | | 2 | | | | 2 | |
| Segment profit (loss) | | $ | 724 | | | $ | (719 | ) | | $ | 5 | |
| Segment margin | | | 35 | % | | | (228 | )% | | | | |
| | | | | | | | | | | | | |
| Unallocated expenses (income) (3) | | | | | | | | | | | | |
| Corporate expenses | | | | | | | | | | $ | 4,067 | |
| Stock compensation | | | | | | | | | | | 62 | |
| Severance | | | | | | | | | | | 60 | |
| Interest income | | | | | | | | | | | (151 | ) |
| Loss before income tax expense | | | | | | | | | | $ | (4,033 | ) |
| | | | | | | | | | | | | |
| (1) | Includes direct labor costs (including sales and marketing costs), employment taxes, employee benefits, workers' compensation, and office expenses. For the year ended December 31, 2024, this also includes $46,000 of severance costs. |
| (2) | Other segment items include other income and expenses, net; interest expense; certain professional services; and miscellaneous taxes and fees. |
| (3) | Represents general and administrative costs, less the amounts allocated to the segments for labor and benefits, general liability insurance, professional services, property taxes, and interest income. For the year ended December 31, 2024, this also includes severance costs of $59,000. |
For the years ended December 31, 2025, and 2024, no material revenue was attributable to any individual foreign country. Approximately 1% of foreign revenue is billed in foreign currency, and foreign currency gains and losses are not material. Revenue by geographic area is allocated as follows (in thousands):
| | | Year Ended December 31, | |
| | | 2025 | | | 2024 | |
| Domestic | | $ | 1,142 | | | $ | 913 | |
| Foreign | | | 1,295 | | | | 1,465 | |
| | | $ | 2,437 | | | $ | 2,378 | |
The Company considers a significant customer to be one that comprises more than 10% of its consolidated revenues or accounts receivable. Losing or reducing sales or anticipated sales to our most significant customer or several of our smaller customers could have a material adverse effect on our business, financial condition, and results of operations.
Concentration of consolidated revenues was as follows:
| | | | Year Ended December 31, 2025 | |
| | | | 2025 | | | 2024 | |
| | Segment | | % of Revenue | | | % of Revenue | |
| Customer A | Managed Services | | | 79.0 | % | | | 84.9 | % |
Concentration of consolidated accounts receivable was as follows:
| | | | As of December 31, | |
| | | | 2025 | | | 2024 | |
| | Segment | | % of Accounts Receivable | | | % of Accounts Receivable | |
| Customer A | Managed Services | | | 97.3 | % | | | 82.6 | % |
|