2023 Q2 Form 10-Q Financial Statement
#000143774923012552 Filed on May 04, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
Revenue | $0.00 | $0.00 |
YoY Change | -100.0% | |
Cost Of Revenue | $1.481M | $1.065M |
YoY Change | 41.32% | 7.14% |
Gross Profit | -$1.481M | -$1.070M |
YoY Change | 41.86% | 7.65% |
Gross Profit Margin | ||
Selling, General & Admin | $3.352M | $3.430M |
YoY Change | 15.87% | 4.0% |
% of Gross Profit | ||
Research & Development | $525.0K | $445.0K |
YoY Change | 0.77% | -19.24% |
% of Gross Profit | ||
Depreciation & Amortization | $200.0K | $100.0K |
YoY Change | 100.0% | 0.0% |
% of Gross Profit | ||
Operating Expenses | $525.0K | $445.0K |
YoY Change | 0.77% | -19.24% |
Operating Profit | -$4.855M | -$4.516M |
YoY Change | 22.76% | 4.78% |
Interest Expense | $255.0K | $176.0K |
YoY Change | 2025.0% | |
% of Operating Profit | ||
Other Income/Expense, Net | $96.00K | -$90.00K |
YoY Change | -87.83% | -8.16% |
Pretax Income | -$4.759M | -$4.606M |
YoY Change | 50.32% | 4.49% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | ||
Net Earnings | -$4.759M | -$4.606M |
YoY Change | 50.32% | 4.44% |
Net Earnings / Revenue | ||
Basic Earnings Per Share | -$0.06 | -$0.06 |
Diluted Earnings Per Share | -$0.06 | -$0.06 |
COMMON SHARES | ||
Basic Shares Outstanding | 83.14M | 81.34M |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $6.196M | $3.355M |
YoY Change | -3.56% | -62.89% |
Cash & Equivalents | $6.196M | $3.355M |
Short-Term Investments | ||
Other Short-Term Assets | $183.0K | $15.53M |
YoY Change | -98.95% | 509.98% |
Inventory | $631.0K | $302.0K |
Prepaid Expenses | ||
Receivables | $104.0K | $0.00 |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $7.114M | $19.19M |
YoY Change | -70.52% | 59.02% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $11.95M | $11.89M |
YoY Change | 261.28% | 327.84% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $2.000M | $2.000M |
YoY Change | 0.0% | 0.0% |
Other Assets | $445.0K | $463.0K |
YoY Change | -50.17% | -47.8% |
Total Long-Term Assets | $14.77M | $14.77M |
YoY Change | 118.74% | -31.31% |
TOTAL ASSETS | ||
Total Short-Term Assets | $7.114M | $19.19M |
Total Long-Term Assets | $14.77M | $14.77M |
Total Assets | $21.88M | $33.96M |
YoY Change | -29.15% | 1.16% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $776.0K | $770.0K |
YoY Change | -13.59% | -24.88% |
Accrued Expenses | $1.986M | $1.508M |
YoY Change | -14.8% | -47.8% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $34.00K | $5.945M |
YoY Change | ||
Long-Term Debt Due | $61.00K | $62.00K |
YoY Change | 15.09% | 19.23% |
Total Short-Term Liabilities | $3.112M | $11.79M |
YoY Change | -11.52% | 180.86% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $2.926M | $2.933M |
YoY Change | 3603.8% | 3053.76% |
Other Long-Term Liabilities | $100.0K | $166.0K |
YoY Change | -93.77% | -90.03% |
Total Long-Term Liabilities | $3.026M | $3.099M |
YoY Change | 79.69% | 76.28% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $3.112M | $11.79M |
Total Long-Term Liabilities | $3.026M | $3.099M |
Total Liabilities | $6.138M | $14.88M |
YoY Change | 18.02% | 149.98% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$208.6M | -$203.9M |
YoY Change | 9.0% | 8.3% |
Common Stock | $225.0M | $223.5M |
YoY Change | 3.62% | 3.55% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $15.74M | $19.08M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $21.88M | $33.96M |
YoY Change | -29.15% | 1.16% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$4.759M | -$4.606M |
YoY Change | 50.32% | 4.44% |
Depreciation, Depletion And Amortization | $200.0K | $100.0K |
YoY Change | 100.0% | 0.0% |
Cash From Operating Activities | $8.335M | -$2.863M |
YoY Change | -401.99% | -20.23% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $248.0K | $5.255M |
YoY Change | -134.69% | 1936.82% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$41.00K | $33.00K |
YoY Change | -34.92% | -95.11% |
Cash From Investing Activities | -$289.0K | -$5.222M |
YoY Change | -62.85% | -1352.28% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -5.205M | $4.358M |
YoY Change | -663.92% | 6.94% |
NET CHANGE | ||
Cash From Operating Activities | 8.335M | -$2.863M |
Cash From Investing Activities | -289.0K | -$5.222M |
Cash From Financing Activities | -5.205M | $4.358M |
Net Change In Cash | 2.841M | -$3.727M |
YoY Change | -208.64% | -512.74% |
FREE CASH FLOW | ||
Cash From Operating Activities | $8.335M | -$2.863M |
Capital Expenditures | $248.0K | $5.255M |
Free Cash Flow | $8.087M | -$8.118M |
YoY Change | -495.45% | 111.02% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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CY2022Q4 | us-gaap |
Common Stock Shares Issued
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Common Stock Shares Outstanding
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|
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CY2023Q1 | us-gaap |
Treasury Stock Common Shares
TreasuryStockCommonShares
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CY2022Q1 | aqms |
Percentage Of Revenue From Products Transferred At Point In Time
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|
1 | pure |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 | |
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Assets
Assets
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Accounts Payable Current
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Accounts Payable Current
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CY2023Q1 | us-gaap |
Accrued Liabilities Current
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1508000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
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1780000 | usd |
CY2023Q1 | aqms |
Building Purchase Deposit Current
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3250000 | usd |
CY2022Q4 | aqms |
Building Purchase Deposit Current
BuildingPurchaseDepositCurrent
|
3250000 | usd |
CY2023Q1 | aqms |
Operating And Finance Lease Liability Current
OperatingAndFinanceLeaseLiabilityCurrent
|
312000 | usd |
CY2022Q4 | aqms |
Operating And Finance Lease Liability Current
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Notes Payable Current
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Liabilities Current
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CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
12311000 | usd |
CY2023Q1 | aqms |
Operating And Finance Lease Liability Noncurrent
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197000 | usd |
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Operating And Finance Lease Liability Noncurrent
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275000 | usd |
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Building Purchase Deposit Noncurrent
BuildingPurchaseDepositNoncurrent
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2902000 | usd |
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Building Purchase Deposit Noncurrent
BuildingPurchaseDepositNoncurrent
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Liabilities
Liabilities
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CY2022Q4 | us-gaap |
Liabilities
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Common Stock Value
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Common Stock Value
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Additional Paid In Capital Common Stock
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Retained Earnings Accumulated Deficit
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CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q1 | us-gaap |
Treasury Stock Common Value
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CY2022Q4 | us-gaap |
Treasury Stock Common Value
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Stockholders Equity
StockholdersEquity
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Stockholders Equity
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Liabilities And Stockholders Equity
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Liabilities And Stockholders Equity
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|
33502000 | usd |
CY2023Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
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Cost Of Goods And Services Sold
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|
994000 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
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|
445000 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
551000 | usd |
CY2023Q1 | us-gaap |
General And Administrative Expense
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General And Administrative Expense
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Costs And Expenses
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Costs And Expenses
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CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
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CY2022Q1 | us-gaap |
Operating Income Loss
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CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
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200000000 | |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q1 | us-gaap |
Common Stock Shares Issued
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Amendment Flag
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Current Fiscal Year End Date
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Q1 | |
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Document Fiscal Year Focus
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Commitments And Contingencies
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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Gain Loss On Sale Of Property Plant And Equipment Excluding Amount In Cost Of Good Sold
GainLossOnSaleOfPropertyPlantAndEquipmentExcludingAmountInCostOfGoodSold
|
20000 | usd |
CY2023Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2023Q1 | dei |
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CY2023Q1 | dei |
Document Period End Date
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2023-03-31 | |
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Document Transition Report
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Entity File Number
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Entity Incorporation State Country Code
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CY2023Q1 | dei |
Entity Tax Identification Number
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47-1169572 | |
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Entity Address Address Line1
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5370 Kietzke Lane, Suite 201 | |
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Entity Address City Or Town
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Reno | |
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Entity Address State Or Province
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Entity Address Postal Zip Code
EntityAddressPostalZipCode
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CY2023Q1 | dei |
City Area Code
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775 | |
CY2023Q1 | dei |
Local Phone Number
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446-4418 | |
CY2023Q1 | dei |
Security12b Title
Security12bTitle
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Common Stock | |
CY2023Q1 | dei |
Trading Symbol
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CY2023Q1 | dei |
Security Exchange Name
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CY2023Q1 | dei |
Entity Current Reporting Status
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Yes | |
CY2023Q1 | dei |
Entity Interactive Data Current
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Entity Filer Category
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Entity Small Business
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Entity Emerging Growth Company
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Entity Common Stock Shares Outstanding
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Cash And Cash Equivalents At Carrying Value
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Cash And Cash Equivalents At Carrying Value
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Inventory Net
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278000 | usd |
CY2023Q1 | us-gaap |
Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
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Assets Held For Sale Not Part Of Disposal Group Current
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Prepaid Expense And Other Assets Current
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Prepaid Expense And Other Assets Current
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Assets Current
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Assets Current
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Property Plant And Equipment Net
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Property Plant And Equipment Net
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Finite Lived Intangible Assets Net
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416000 | usd |
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Finite Lived Intangible Assets Net
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CY2023Q1 | us-gaap |
Long Term Investments
LongTermInvestments
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Long Term Investments
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14773000 | usd |
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10293000 | usd |
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Assets
Assets
|
33960000 | usd |
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Gain Loss On Sale Of Property Plant And Equipment Excluding Amount In Cost Of Good Sold
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Interest Expense
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Interest Expense
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Proceeds From Notes Payable
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Proceeds From Notes Payable
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Net Income Loss
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Weighted Average Number Of Shares Outstanding Basic
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NetIncomeLoss
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Net Income Loss
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Depreciation And Right Of Use Asset Amortization
DepreciationAndRightOfUseAssetAmortization
|
141000 | usd |
CY2022Q1 | aqms |
Depreciation And Right Of Use Asset Amortization
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|
365000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
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|
45000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
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45000 | usd |
CY2023Q1 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
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|
32000 | usd |
CY2022Q1 | us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
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Fair Value Of Common Stock Issued For Consulting Services
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|
12000 | usd |
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Fair Value Of Common Stock Issued For Consulting Services
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|
0 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
687000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
605000 | usd |
CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
16000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
0 | usd |
CY2023Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
20000 | usd |
CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-150000 | usd |
CY2023Q1 | aqms |
Proceeds From Sales Type Lease Payments Financing Activities
ProceedsFromSalesTypeLeasePaymentsFinancingActivities
|
283000 | usd |
CY2022Q1 | aqms |
Proceeds From Sales Type Lease Payments Financing Activities
ProceedsFromSalesTypeLeasePaymentsFinancingActivities
|
185000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-12000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-72000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
23000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-78000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
23000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
71000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
107000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
87000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
547000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-221000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
73000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
289000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2863000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3404000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5255000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
258000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
67000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
1145000 | usd |
CY2023Q1 | aqms |
Payments To Acquire Equipment Deposits And Other Assets
PaymentsToAcquireEquipmentDepositsAndOtherAssets
|
34000 | usd |
CY2022Q1 | aqms |
Payments To Acquire Equipment Deposits And Other Assets
PaymentsToAcquireEquipmentDepositsAndOtherAssets
|
-30000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
-0 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
500000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5222000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
417000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
14000 | usd |
CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
577000 | usd |
CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
-0 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1989000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3890000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4358000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
0 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3890000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-3727000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
903000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
7082000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
8137000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
3355000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
9040000 | usd |
CY2023Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
0 | usd |
CY2022Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2000 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
155000 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3000 | usd |
CY2023Q1 | aqms |
Change In Property And Equipment Resulting From Change In Accounts Payable
ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable
|
412000 | usd |
CY2022Q1 | aqms |
Change In Property And Equipment Resulting From Change In Accounts Payable
ChangeInPropertyAndEquipmentResultingFromChangeInAccountsPayable
|
-253000 | usd |
CY2023Q1 | aqms |
Change In Property And Equipment Resulting From Change In Accrued Expenses
ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses
|
210000 | usd |
CY2022Q1 | aqms |
Change In Property And Equipment Resulting From Change In Accrued Expenses
ChangeInPropertyAndEquipmentResultingFromChangeInAccruedExpenses
|
0 | usd |
CY2023Q1 | aqms |
Change In Equity Resulting From Change In Accrued Expenses
ChangeInEquityResultingFromChangeInAccruedExpenses
|
608000 | usd |
CY2022Q1 | aqms |
Change In Equity Resulting From Change In Accrued Expenses
ChangeInEquityResultingFromChangeInAccruedExpenses
|
0 | usd |
CY2023Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><span style="text-decoration: underline; "><em style="font: inherit;">1.</em> Organization</span></p> <p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt; text-align: justify;">Aqua Metals (NASDAQ: <span style="text-decoration: underline; ">AQMS</span>) is engaged in the business of applying its commercialized clean, water-based recycling technology principles to develop the clean and cost-efficient recycling solutions for both lead and lithium-ion (“Li”) batteries. Our recycling process is a patented hydro and electrometallurgical technology that is a novel, proprietary and patented process we developed and named AquaRefining. AquaRefining is a low-emissions, closed-loop recycling technology that replaces polluting furnaces and hazardous chemicals with electricity-powered electroplating to recover valuable metals and materials from spent batteries with higher purity, lower emissions, and with minimal waste. The modular “Aqualyzers” cleanly generate ultra-pure metal <em style="font: inherit;">one</em> atom at a time, closing the sustainability loop for the rapidly growing energy storage economy.</p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt; text-align: justify;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt; text-align: justify;">We are in the process of demonstrating that Li AquaRefining, which is fundamentally non-polluting, can create the highest quality and highest yields of recovered minerals from lithium-ion batteries with lower waste streams and lower costs than existing alternatives. We have already demonstrated at our pilot facility our ability to recover key valuable minerals in lithium-ion batteries, such as lithium hydroxide, copper, nickel, cobalt, and other compounds in <em style="font: inherit;">2022.</em> Our goal is to process commercial quantities of nickel, cobalt, and copper in a pure metal form that can be sold to the general metals and superalloy markets and can be made into battery precursor compound materials with known processes already used in the mining industry. We have installed, commissioned, and began to operate the <em style="font: inherit;">first</em> Li AquaRefining pilot plant, scaling towards a commercial demonstration operation through <em style="font: inherit;">2023.</em></p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt; text-align: justify;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt 0pt 0pt 26pt; text-indent: 0pt; text-align: justify;">Our focus for the lead market is providing equipment and licensing of our lead acid battery recycling technologies in an enabler model which allows us to work with anyone in the industry globally and address the entire marketplace. Our focus for the lithium market includes operating our <em style="font: inherit;">first</em>-of-a-kind lithium battery recycling facility, utilizing electricity to recycle instead of intensive chemical processes, fossil fuels, or high-temperature furnaces.</p> | |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 26pt; text-align: justify; text-indent: 0pt;"><span style="text-decoration: underline; ">Use of estimates</span></p> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 27pt; text-align: justify;"> </p> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 26pt; text-align: justify; text-indent: 0pt;">The preparation of the condensed consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the period. Significant items subject to such estimates and assumptions include the carrying amount and valuation of long-lived assets, valuation allowances for deferred tax assets, the determination of stock-based compensation expense and the determination of the fair value of stock warrants issued. Actual results could differ from those estimates.</p> | |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6356165 | |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5144657 | |
CY2023Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | pure |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 26pt; text-align: justify; text-indent: 0pt;"><span style="text-decoration: underline; ">Concentration of credit risk</span></p> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 27pt; text-align: justify;"> </p> <p style="font-family: "Times New Roman", Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 26pt; text-align: justify; text-indent: 0pt;">The Company did <span style="-sec-ix-hidden:c97532937"><span style="-sec-ix-hidden:c97532938">not</span></span> generate revenue during the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2023</em> or for the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> March 31, 2022</em>. The Company has no accounts receivable as of <em style="font: inherit;"> March 31, 2023</em>. As of <em style="font: inherit;"> December 31, 2022</em>, accounts receivable consisted of proceeds from the sale of equipment.</p> | |
CY2023Q1 | aqms |
Percentage Of Revenue From Products Transferred At Point In Time
PercentageOfRevenueFromProductsTransferredAtPointInTime
|
1 | pure |
CY2023Q1 | us-gaap |
Sales Type Lease Net Investment In Lease Excluding Accrued Interest After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLoss
|
17000000.0 | usd |
CY2023Q1 | aqms |
Salestype Lease Net Investment In Lease Excluding Accrued Interest After Allowance For Credit Loss Implied Interest Rate
SalestypeLeaseNetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossImpliedInterestRate
|
0.005 | pure |
CY2023Q1 | aqms |
Proceeds From Sales Type Lease Payments Financing Activities
ProceedsFromSalesTypeLeasePaymentsFinancingActivities
|
283000 | usd |
CY2023Q1 | us-gaap |
Sales Type Lease Lease Income
SalesTypeLeaseLeaseIncome
|
18000 | usd |
CY2023Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
28000 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
28000 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
274000 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
250000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
302000 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
278000 | usd |
CY2023Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
510632 | |
CY2023Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
577000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
13292000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
8837000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1398000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1494000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
11894000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7343000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
100000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
100000 | usd |
CY2023Q1 | aqms |
Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
|
560000 | usd |
CY2022Q4 | aqms |
Accrued Property And Equipment Current
AccruedPropertyAndEquipmentCurrent
|
770000 | usd |
CY2023Q1 | aqms |
Accrued Class Action Settlement Liabilities Current
AccruedClassActionSettlementLiabilitiesCurrent
|
0 | usd |
CY2022Q4 | aqms |
Accrued Class Action Settlement Liabilities Current
AccruedClassActionSettlementLiabilitiesCurrent
|
500000 | usd |
CY2023Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
601000 | usd |
CY2022Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
418000 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
77000 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
51000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
270000 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
41000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1508000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1780000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
400000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
630000 | usd |
CY2023Q1 | aqms |
Stock Issued During Period Shares Issued For Class Action Settlement
StockIssuedDuringPeriodSharesIssuedForClassActionSettlement
|
469366 | |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
192707 | |
CY2023Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
66000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
150000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
65000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
141000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
15000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
15000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
2000 | usd |
CY2022Q1 | us-gaap |
Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
|
3000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y7M6D | |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0616 | pure |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0749 | pure |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
|
267000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
|
66000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
|
170000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
|
32000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
|
0 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
|
0 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
21000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
5000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
416000 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
93000 | usd |
CY2023Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
5945000 | usd |
CY2022Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
5899000 | usd |
CY2023Q1 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
2902000 | usd |
CY2022Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
0 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
687000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
605000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 |