2022 Q4 Form 10-Q Financial Statement

#000149315222031655 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $68.00K
YoY Change -97.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.682M $3.890M $6.092M
YoY Change 21.46% -36.15% 37.52%
% of Gross Profit
Research & Development $6.272M $5.490M $7.978M
YoY Change -46.4% -31.19% 0.1%
% of Gross Profit
Depreciation & Amortization $729.0K $780.0K $802.0K
YoY Change -9.67% -2.74% -5.65%
% of Gross Profit
Operating Expenses $12.05M $9.380M $14.87M
YoY Change -29.86% -36.93% 12.24%
Operating Profit -$9.380M -$14.87M
YoY Change -36.93%
Interest Expense $150.0K $157.0K -$673.0K
YoY Change -583.87% -123.33% -32.02%
% of Operating Profit
Other Income/Expense, Net $11.66M -$19.00K
YoY Change
Pretax Income -$1.126M -$9.484M -$7.044M
YoY Change -97.59% 34.64% -2.71%
Income Tax
% Of Pretax Income
Net Earnings -$1.126M -$9.484M -$7.044M
YoY Change -97.59% 34.64% -2.71%
Net Earnings / Revenue -1655.88%
Basic Earnings Per Share -$1.48 -$1.80
Diluted Earnings Per Share -$0.08 -$1.477M -$1.797M
COMMON SHARES
Basic Shares Outstanding 17.18M shares 5.950M shares 3.924M shares
Diluted Shares Outstanding 6.421M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $52.15M $18.17M $67.00M
YoY Change 15.82% -72.88% -30.86%
Cash & Equivalents $14.22M $5.733M $43.78M
Short-Term Investments $37.93M $12.43M $23.22M
Other Short-Term Assets $762.0K $6.283M $907.0K
YoY Change -89.67% 592.72% 29.57%
Inventory
Prepaid Expenses
Receivables
Other Receivables $188.0K $1.047M
Total Short-Term Assets $53.10M $25.50M $67.91M
YoY Change -5.67% -62.45% -35.08%
LONG-TERM ASSETS
Property, Plant & Equipment $5.741M $6.606M $16.08M
YoY Change -53.47% -58.91% -17.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.00K $20.00K $1.159M
YoY Change -74.4% -98.27% 5.36%
Total Long-Term Assets $11.12M $13.26M $51.11M
YoY Change -52.28% -74.05% -6.73%
TOTAL ASSETS
Total Short-Term Assets $53.10M $25.50M $67.91M
Total Long-Term Assets $11.12M $13.26M $51.11M
Total Assets $64.21M $38.76M $119.0M
YoY Change -19.31% -67.43% -25.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.811M $1.748M $1.861M
YoY Change -58.13% -6.07% 43.15%
Accrued Expenses $3.991M $4.121M $4.316M
YoY Change -28.54% -4.52% -18.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $7.779M $12.60M $26.47M
YoY Change -53.2% -52.4% -31.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $12.80M
YoY Change -98.44% 132.76%
Total Long-Term Liabilities $0.00 $200.0K $12.80M
YoY Change -100.0% -98.44% 132.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.779M $12.60M $26.47M
Total Long-Term Liabilities $0.00 $200.0K $12.80M
Total Liabilities $37.45M $23.35M $39.28M
YoY Change 32.76% -40.55% -11.34%
SHAREHOLDERS EQUITY
Retained Earnings -$695.3M -$694.2M
YoY Change 6.05%
Common Stock $7.177M $77.00K
YoY Change 387.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.76M $15.41M $79.74M
YoY Change
Total Liabilities & Shareholders Equity $64.21M $38.76M $119.0M
YoY Change -19.31% -67.43% -25.33%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.126M -$9.484M -$7.044M
YoY Change -97.59% 34.64% -2.71%
Depreciation, Depletion And Amortization $729.0K $780.0K $802.0K
YoY Change -9.67% -2.74% -5.65%
Cash From Operating Activities -$13.99M -$6.791M -$10.33M
YoY Change -53.76% -34.28% -3.42%
INVESTING ACTIVITIES
Capital Expenditures $25.00K -$2.000K -$402.0K
YoY Change -100.77% -99.5% 48.89%
Acquisitions
YoY Change
Other Investing Activities -$25.27M $1.651M $27.17M
YoY Change -324.64% -93.92% 458.95%
Cash From Investing Activities -$25.29M $1.649M $26.76M
YoY Change -416.16% -93.84% 484.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.77M 4.189M 173.0K
YoY Change 161.87% 2321.39%
NET CHANGE
Cash From Operating Activities -13.99M -6.791M -10.33M
Cash From Investing Activities -25.29M 1.649M 26.76M
Cash From Financing Activities 42.77M 4.189M 173.0K
Net Change In Cash 3.484M -953.0K 16.60M
YoY Change -158.78% -105.74% -371.27%
FREE CASH FLOW
Cash From Operating Activities -$13.99M -$6.791M -$10.33M
Capital Expenditures $25.00K -$2.000K -$402.0K
Free Cash Flow -$14.02M -$6.789M -$9.932M
YoY Change -48.1% -31.65% -4.77%

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us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
3782000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9484000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7044000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-42352000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-38253000 usd
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.48
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.80
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-9.93
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6421245 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3924024 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6009902 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3853318 shares
CY2022Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-4000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-11000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
10000 usd
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-6000 usd
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-9000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-6000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent
-9000 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9494000 usd
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7052000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-42369000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-38252000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
20086000 usd
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
632000 usd
CY2022Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4189000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-9484000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-10000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
15413000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
51375000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2218000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4189000 usd
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
3782000 usd
us-gaap Net Income Loss
NetIncomeLoss
-38570000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-17000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
15413000 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
84086000 usd
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2537000 usd
CY2021Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
33000 usd
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
140000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-7044000 usd
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
79744000 usd
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
102551000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6915000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
7699000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
831000 usd
us-gaap Net Income Loss
NetIncomeLoss
-38253000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
79744000 usd
us-gaap Net Income Loss
NetIncomeLoss
-38570000 usd
us-gaap Net Income Loss
NetIncomeLoss
-38253000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2364000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2443000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2218000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6915000 usd
abeo Gain On Settlement Of Related Party
GainOnSettlementOfRelatedParty
6743000 usd
abeo Ppp Loan Payable Forgiveness Income
PppLoanPayableForgivenessIncome
1758000 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
1355000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1561000 usd
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
1792000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
206000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-256000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1204000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
825000 usd
abeo Noncash Interest
NoncashInterest
558000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-121000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3000000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
1047000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1432000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1801000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-148000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
23000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5125000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-4459000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-296000 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
3588000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29491000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-35408000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
105000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
903000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1590000 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
43866000 usd
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
15164000 usd
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
43707000 usd
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
74130000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1326000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
58063000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4189000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
7699000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
831000 usd
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
22468000 usd
us-gaap Payments For Repurchase Of Convertible Preferred Stock
PaymentsForRepurchaseOfConvertiblePreferredStock
26250000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
407000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8530000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-27758000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31185000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38829000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
13571000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11071000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
44756000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5733000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43781000 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5338000 usd
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
975000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11071000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44756000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
exchange ratio of 25-to-1 (the “Reverse Stock Split”)
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_84A_eus-gaap--BasisOfAccounting_zL2v3rGIZHUi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_z2AT0GNiI2Ha">Basis of Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited interim condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Certain information that is normally required by U.S. GAAP has been condensed or omitted in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The December 31, 2021 condensed consolidated balance sheet was derived from the audited statements, but does not include all disclosures required by U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Therefore, these unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
23500000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29500000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zIKEFedS2dDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zxOEEpkAqONi">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_843_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zNJNEtOYRwrg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_z6p2o7q3NbA4">Reclassifications</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain comparative figures have been reclassified to conform to the current year presentation. The Company reclassified depreciation and amortization costs of $<span id="xdx_90C_eus-gaap--DepreciationDepletionAndAmortization_pn5n6_c20210701__20210930__us-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zvfz5K7mocP8" title="Depreciation and amortization costs">0.8</span> million and $<span id="xdx_905_eus-gaap--DepreciationDepletionAndAmortization_c20210701__20210930__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_z7UcGgTZjgVb" title="Depreciation and amortization costs">16,000</span> to research and development and general and administrative expenses, respectively, on the condensed consolidated statements of operations and comprehensive loss during the three months ended September 30, 2021. The Company reclassified depreciation and amortization costs of $<span id="xdx_902_eus-gaap--DepreciationDepletionAndAmortization_pn5n6_c20210101__20210930__us-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_z80saVAJH9bi" title="Depreciation and amortization costs">2.4</span> million and $<span id="xdx_907_eus-gaap--DepreciationDepletionAndAmortization_c20210101__20210930__us-gaap--IncomeStatementLocationAxis__us-gaap--GeneralAndAdministrativeExpenseMember_zEnaU6GurNXe" title="Depreciation and amortization costs">49,000</span> to research and development and general and administrative expenses, respectively, on the condensed consolidated statements of operations and comprehensive loss during the nine months ended September 30, 2021. The Company also reclassified certain rent expenses of $<span id="xdx_905_ecustom--RentExpense_pn5n6_c20210701__20210930__us-gaap--ReclassificationTypeAxis__custom--GeneralAndAdministrativeToResearchAndDevelopmentExpensesMember_zEFE6TH0y8Qk" title="Reclassification of Rent expense">0.3</span> million and $<span id="xdx_900_ecustom--RentExpense_pn5n6_c20210101__20210930__us-gaap--ReclassificationTypeAxis__custom--GeneralAndAdministrativeToResearchAndDevelopmentExpensesMember_zM8DomrMYbO8" title="Reclassification of Rent expense">0.9</span> million from general and administrative to research and development expenses on the condensed consolidated statements of operations and comprehensive loss during the three and nine months ended September 30, 2021, respectively. Additionally, the Company also reclassified $<span id="xdx_90C_eus-gaap--RestrictedCash_iI_pn6n6_c20211231__us-gaap--ReclassificationTypeAxis__custom--PrepaidExpensesOtherCurrentAssetsToRestrictedCashMember_zFsRcoGnopL2" title="Restricted cash">5.0</span> million of restricted cash from prepaid expenses, other current assets and restricted cash and $<span id="xdx_90C_eus-gaap--RestrictedCash_iI_pn5n6_c20211231__us-gaap--ReclassificationTypeAxis__custom--OtherAssetsAndRestrictedCashToRestrictedCashMember_z2b62xWSWtFj" title="Restricted cash">0.9</span> million of restricted cash from other assets and restricted cash to restricted cash on the condensed consolidated balance sheets as of December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2851913 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2851913 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
424417 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
424417 shares
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
12445000 usd
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
11000 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12434000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
12077000 usd
CY2021 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
9000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
12086000 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2021Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18456000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
22799000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11850000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10460000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6606000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12339000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
800000 usd
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
800000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2300000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2400000 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1800000 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1400000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2156000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2156000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
801000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
772000 usd
CY2022Q3 abeo Finite Lived Impairment Charge
FiniteLivedImpairmentCharge
1355000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1384000 usd
CY2022Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
26300000 usd
us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
the Company’s stock underwent a 25:1 Reverse Stock Split
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1788000 shares
CY2021Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
9.75
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_80F_eus-gaap--LossContingencyDisclosures_zlhL3akwG0Ne" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 5 – <span id="xdx_821_zCYkOSEIWJa">SETTLEMENT LIABILITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 12, 2021, the Company entered into a settlement agreement (“Settlement Agreement”) with the Company’s prior licensor REGENXBIO Inc. (“REGENXBIO”) to resolve all existing disputes between the parties. In accordance with the Settlement Agreement, the Company agreed to pay REGENXBIO a total of $<span id="xdx_909_eus-gaap--SettlementLiabilitiesCurrent_iI_pn6n6_c20211112__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zniRXQlxTN28" title="Settlement Liabilities, Current">30.0</span> million, payable as follows: <span id="xdx_904_eus-gaap--LossContingencySettlementAgreementTerms_c20211111__20211112__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zmwiqEZFrPwh" title="Loss Contingency, Settlement Agreement, Terms">(1) $20.0 million paid in November 2021 after execution of the Settlement Agreement, (2) $5.0 million on the first anniversary of the effective date of the Settlement Agreement, and (3) $5.0 million upon the earlier of (i) the third anniversary of the effective date of the Settlement Agreement or (ii) the closing of a Strategic Transaction, as defined in the Settlement Agreement</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of September 30, 2022, the Company recorded the payables due to REGENXBIO in the condensed consolidated balance sheets based on the present value of the remaining payments due to REGENXBIO under the Settlement Agreement using an interest rate of <span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zqJuJS7D7xt3" title="Debt Instrument, Interest Rate, Stated Percentage">9.6</span>%. The current portion of the payable due in <span id="xdx_90A_eus-gaap--DebtInstrumentMaturityDateDescription_c20220101__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--DebtInstrumentAxis__custom--DueInNovemberTwoThousandAndTwentyTwoMember_zPZiO7wIILjk" title="Debt instrument maturity date">November 2022</span> is $<span id="xdx_907_eus-gaap--LongTermDebt_iI_pn5n6_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--DebtInstrumentAxis__custom--DueInNovemberTwoThousandAndTwentyTwoMember_z3sLRXZDGAL4" title="Long term debt">4.9</span> million and the long-term portion due in <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20220101__20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--DebtInstrumentAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_zkwrXS9IQoT6" title="Debt instrument maturity date">November 2024</span> is $<span id="xdx_908_eus-gaap--LongTermDebt_iI_pn5n6_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--DebtInstrumentAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_zM9ABgOQDDw9" title="Long term debt">4.1</span> million as of September 30, 2022. As of September 30, 2022, the Company recorded $<span id="xdx_908_eus-gaap--RestrictedCash_iI_pn6n6_c20220930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zlI69pendpbd" title="Restricted Cash">5.0</span> million of restricted cash in the condensed consolidated balance sheet that serves as collateral for the payment owed to REGENXBIO in November 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
42060000 usd
CY2022Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2092000 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1794000 usd
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2029000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3091000 usd
CY2021Q4 abeo Accrued Sublicense Fee Owed To Licensor
AccruedSublicenseFeeOwedToLicensor
700000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4121000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5585000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1600000 usd
us-gaap Preferred Stock Redemption Terms
PreferredStockRedemptionTerms
The holders of the Series A Preferred Stock and Series B Preferred Stock had the right to require the Company to redeem their shares of preferred stock for cash at 105% of the stated value of such shares commencing after the earlier of the receipt of stockholder approval of an amendment to the Company’s Restated Certificate of Incorporation to effect a reverse stock split and 60 days after the closing of the issuances of the Series A Preferred Stock and Series B Preferred Stock and until 90 days after such closing. The Company had the option to redeem the Series A Preferred Stock for cash at 105% of the stated value commencing after the 90th day following the closing of the issuance of the Series A Preferred Stock, subject to the holders’ rights to convert the shares prior to such redemption
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
467000 usd
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
434000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1400000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1302000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
154000 usd
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
105000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
366000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
344000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
17000 usd
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
58000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
23000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
638000 usd
CY2021Q3 us-gaap Lease Cost
LeaseCost
552000 usd
us-gaap Lease Cost
LeaseCost
1824000 usd
us-gaap Lease Cost
LeaseCost
1669000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
446000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1829000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1872000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1631000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
871000 usd
CY2022Q3 abeo Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
3662000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10311000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2017000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
8294000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P79M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072 pure
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
632000 usd
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2537000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2218000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6915000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
4100000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P3Y1M6D
abeo Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodFairValue
1300000 usd
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
25000000.0 usd
CY2022Q3 us-gaap Share Price
SharePrice
19.00
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
22500000 usd
us-gaap Dividends Preferred Stock
DividendsPreferredStock
3800000 usd
CY2022Q3 us-gaap Escrow Deposit
EscrowDeposit
26300000 usd
CY2022Q3 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
11.25
us-gaap Dividends Preferred Stock
DividendsPreferredStock
3800000 usd
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1788000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
9.75
CY2021Q4 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
16000000.0 usd
CY2021Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1500000 usd
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1788000 shares
CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2026-12-21

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