2023 Q2 Form 10-Q Financial Statement
#000149315223016688 Filed on May 12, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $385.8K | $311.5K | $563.0K |
YoY Change | -25.0% | -44.67% | 676.37% |
Cost Of Revenue | $113.6K | $82.01K | $137.9K |
YoY Change | 20.99% | -40.51% | 819.13% |
Gross Profit | $272.1K | $229.5K | $425.2K |
YoY Change | -35.27% | -46.02% | 639.13% |
Gross Profit Margin | 70.55% | 73.67% | 75.51% |
Selling, General & Admin | $620.3K | $616.1K | $2.116M |
YoY Change | 15.78% | -70.88% | -73.19% |
% of Gross Profit | 227.93% | 268.45% | 497.7% |
Research & Development | $180.9K | $201.6K | $136.7K |
YoY Change | -2.22% | 47.47% | 64.86% |
% of Gross Profit | 66.47% | 87.86% | 32.16% |
Depreciation & Amortization | $1.170K | $1.153K | $800.00 |
YoY Change | 25.81% | 44.13% | 280.95% |
% of Gross Profit | 0.43% | 0.5% | 0.19% |
Operating Expenses | $1.433M | $1.358M | $2.253M |
YoY Change | -85.46% | -39.72% | -71.76% |
Operating Profit | -$1.161M | -$1.128M | -$1.828M |
YoY Change | -87.69% | -38.26% | -76.92% |
Interest Expense | $731.2K | -$268.2K | -$570.1K |
YoY Change | -65.32% | -52.96% | -123.38% |
% of Operating Profit | |||
Other Income/Expense, Net | $142.5K | -$285.0K | -$35.63K |
YoY Change | -91.67% | 699.89% | -97.26% |
Pretax Income | -$1.018M | -$1.413M | -$5.741M |
YoY Change | -86.82% | -75.38% | -15.36% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.018M | -$1.413M | -$5.741M |
YoY Change | -86.82% | -75.38% | -15.36% |
Net Earnings / Revenue | -264.02% | -453.72% | -1019.63% |
Basic Earnings Per Share | -$0.07 | -$0.10 | -$0.47 |
Diluted Earnings Per Share | -$0.07 | -$0.10 | -$468.8K |
COMMON SHARES | |||
Basic Shares Outstanding | 13.83M shares | 13.77M shares | 12.25M shares |
Diluted Shares Outstanding | 13.87M shares | 17.19M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.043M | $1.543M | $4.863M |
YoY Change | -67.51% | -68.27% | -38.71% |
Cash & Equivalents | $900.0K | $1.400M | $2.245M |
Short-Term Investments | $100.0K | $100.0K | |
Other Short-Term Assets | $8.361M | $7.949M | $6.917M |
YoY Change | 205.49% | 14.92% | 1426.04% |
Inventory | |||
Prepaid Expenses | $175.4K | $93.45K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $9.405M | $9.492M | $11.78M |
YoY Change | 58.11% | -19.42% | 40.44% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $8.834K | $9.999K | $11.54K |
YoY Change | -16.78% | -13.35% | 57600.0% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $0.00 | $0.00 | $8.684M |
YoY Change | -100.0% | -100.0% | 12.27% |
Total Long-Term Assets | $8.834K | $9.999K | $8.696M |
YoY Change | -99.84% | -99.89% | 12.42% |
TOTAL ASSETS | |||
Total Short-Term Assets | $9.405M | $9.492M | $11.78M |
Total Long-Term Assets | $8.834K | $9.999K | $8.696M |
Total Assets | $9.414M | $9.502M | $20.48M |
YoY Change | -17.84% | -53.59% | 26.99% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $188.1K | $41.95K | $102.4K |
YoY Change | 35.08% | -59.03% | 49.34% |
Accrued Expenses | $442.1K | $45.38K | $3.210K |
YoY Change | 56.11% | 1313.8% | 114.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $798.4K | $544.1K | $2.944M |
YoY Change | -25.17% | -81.52% | 285.34% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $798.4K | $544.1K | $2.944M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $798.4K | $544.1K | $2.944M |
YoY Change | -25.17% | -81.52% | 285.34% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$153.9M | -$152.9M | |
YoY Change | 3.26% | ||
Common Stock | $160.0M | $161.9M | |
YoY Change | 0.33% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $8.615M | $8.958M | $17.53M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $9.414M | $9.502M | $20.48M |
YoY Change | -17.84% | -53.59% | 26.99% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.018M | -$1.413M | -$5.741M |
YoY Change | -86.82% | -75.38% | -15.36% |
Depreciation, Depletion And Amortization | $1.170K | $1.153K | $800.00 |
YoY Change | 25.81% | 44.13% | 280.95% |
Cash From Operating Activities | -$919.5K | -$1.126M | -$1.055M |
YoY Change | -153.89% | 6.71% | -58.48% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.670M | -$8.524M | |
YoY Change | -369.36% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $1.672M | $47.54K | $310.2K |
YoY Change | -84.67% | ||
Cash From Investing Activities | $2.140K | -$86.48K | -$8.214M |
YoY Change | -100.35% | -98.95% | 2.74% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | $0.00 | $635.0K | |
YoY Change | -100.0% | ||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 417.7K | $508.8K | 10.11M |
YoY Change | -398.52% | -94.97% | -24.41% |
NET CHANGE | |||
Cash From Operating Activities | -919.5K | -$1.126M | -1.055M |
Cash From Investing Activities | 2.140K | -$86.48K | -8.214M |
Cash From Financing Activities | 417.7K | $508.8K | 10.11M |
Net Change In Cash | -499.6K | -$703.7K | 844.2K |
YoY Change | -152.79% | -183.36% | -70.31% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$919.5K | -$1.126M | -$1.055M |
Capital Expenditures | $1.670M | -$8.524M | |
Free Cash Flow | -$2.590M | -$1.126M | $7.469M |
YoY Change | -211.32% | -115.08% | -393.91% |
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|
-634557 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5740743 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17531184 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17531184 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1413369 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5740743 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
1153 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
797 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
531617 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1289274 | usd |
CY2023Q1 | BTCS |
Validator Revenue
ValidatorRevenue
|
311508 | usd |
CY2022Q1 | BTCS |
Validator Revenue
ValidatorRevenue
|
563015 | usd |
CY2022Q1 | BTCS |
Blockchain Network Fees
BlockchainNetworkFees
|
1321 | usd |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
285000 | usd |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
641250 | usd |
CY2023Q1 | BTCS |
Realized Gains On Crypto Asset Currency Transactions
RealizedGainsOnCryptoAssetCurrencyTransactions
|
16831 | usd |
CY2022Q1 | BTCS |
Realized Gains On Crypto Asset Currency Transactions
RealizedGainsOnCryptoAssetCurrencyTransactions
|
71110 | usd |
CY2023Q1 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
94907 | usd |
CY2022Q1 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
3307428 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-30278 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-9382 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-34773 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-36329 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-292506 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-4125 | usd |
CY2022Q1 | BTCS |
Increase Decrease In Capital Shares Payable
IncreaseDecreaseInCapitalSharesPayable
|
75002 | usd |
CY2022Q1 | BTCS |
Increase Decrease In Dividends Payable
IncreaseDecreaseInDividendsPayable
|
35625 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1126032 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1055243 | usd |
CY2023Q1 | BTCS |
Purchase Of Productive Crypto Assets Currencies For Validating
PurchaseOfProductiveCryptoAssetsCurrenciesForValidating
|
134019 | usd |
CY2022Q1 | BTCS |
Purchase Of Productive Crypto Assets Currencies For Validating
PurchaseOfProductiveCryptoAssetsCurrenciesForValidating
|
8521726 | usd |
CY2023Q1 | BTCS |
Sale Of Productive Crypto Assets Currencies
SaleOfProductiveCryptoAssetsCurrencies
|
47543 | usd |
CY2022Q1 | BTCS |
Sale Of Productive Crypto Assets Currencies
SaleOfProductiveCryptoAssetsCurrencies
|
310149 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2558 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-86476 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-8214135 | usd |
CY2022Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
400194 | usd |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
508783 | usd |
CY2022Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10513767 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
508783 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10113573 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-703725 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
844195 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2146783 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1400867 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1443058 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2245062 | usd |
CY2022Q1 | BTCS |
Dividends Payable
DividendsPayable
|
230606 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-10 reverse split | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
97500000 | shares |
CY2023Q1 | BTCS |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Grants In Period
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGrantsInPeriod
|
P4Y9M18D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1170000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.12 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
14600 | usd |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p id="xdx_84B_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zwu0IixOhwL1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_860_zlA1QCqr1GN7">Reclassifications</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior period amounts have been reclassified in order to conform with the current period presentation. These reclassifications have no impact on the Company’s previously reported net income (loss).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zKSrZSGHA7h5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86C_zwFP90fZjAL2">Concentration of Cash</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company maintains cash balances at four financial institutions in checking accounts and money market accounts. The Company considers all highly liquid investments with original maturities of six months or less when purchased to be cash and cash equivalents. As of March 31, 2023 and December 31, 2022, the Company had approximately $<span id="xdx_907_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20230331_zBdp91ohbaLi" title="Cash and cash equivalents">1.4</span> million and $<span id="xdx_90D_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20221231_zHM9TVuyWvO3" title="Cash and cash equivalents">2.1</span> million in cash. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pp0p0_c20230331__srt--RangeAxis__srt--MaximumMember_zeUyOXLQYvUd" title="Cash, FDIC insured amount">250,000</span>. As of March 31, 2023 and December 31, 2022, the Company had approximately $<span id="xdx_908_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20230331_zBSpDRYjDRRf" title="Cash, FDIC insured amount">0.7</span> million and $<span id="xdx_902_eus-gaap--CashFDICInsuredAmount_iI_pn5n6_c20221231_zyKSbbNl3O34" title="Cash, FDIC insured amount">1.7</span> million in excess of the FDIC insured limit, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1400000 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2100000 | usd |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
700000 | usd |
CY2022Q4 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
1700000 | usd |
CY2023Q1 | us-gaap |
Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
|
95000 | usd |
CY2022Q1 | us-gaap |
Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
|
3300000 | usd |
CY2023Q1 | us-gaap |
Realized Investment Gains Losses
RealizedInvestmentGainsLosses
|
17000 | usd |
CY2022Q1 | us-gaap |
Realized Investment Gains Losses
RealizedInvestmentGainsLosses
|
71000 | usd |
CY2023Q1 | BTCS |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
|
P3Y | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
1135000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
|
2.16 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P3Y | |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
|
1521296 | shares |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84A_eus-gaap--UseOfEstimates_zj6qQPJRr0kd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_860_ztqNNHJ072Ub">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying financial statements have been prepared in conformity with U.S. GAAP. This requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the period. The Company’s significant estimates and assumptions include the recoverability and useful lives of indefinite life intangible assets, stock-based compensation, and the valuation allowance related to the Company’s deferred tax assets. Certain of the Company’s estimates, including the carrying amount of the indefinite life intangible assets, could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company’s estimates and could cause actual results to differ from those estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023Q1 | us-gaap |
Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
|
Tax positions are recognized only when it is more likely than not (i.e., likelihood of greater than 50%), based on technical merits, that the position would be sustained upon examination by taxing authorities. Tax positions that meet the more likely than not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement. | |
CY2023Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
0 | usd |
CY2022Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
635000 | usd |
CY2023Q1 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
6000 | usd |
CY2022Q1 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
42000 | usd |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3513899 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3865878 | shares |
CY2023Q1 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
100000 | usd |
CY2023Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
498750 | usd |
CY2022Q4 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
100000 | usd |
CY2022Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
213750 | usd |
CY2023Q1 | us-gaap |
Preferred Stock Conversion Basis
PreferredStockConversionBasis
|
The Series V: (i) is non-convertible, (ii) has a 20% liquidation preference over the shares of common stock, (iii) is non-voting and (iv) has certain rights to dividends and distributions (at the discretion of the Board of Directors) | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1150000 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.15 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P3Y3M18D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
20000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.63 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
|
14600 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
3.81 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
|
8.07 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P4Y | |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.9730 | pure |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.0372 | pure |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0410 | pure |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0132 | pure |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1590552 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
3.34 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
50000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.63 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
9153 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
4.37 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1631399 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
3.25 | |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
286553 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1387732 | usd |
CY2023Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
3429 | usd |
CY2022Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
295935 | usd |
CY2023Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
41954 | usd |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
76727 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
45383 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
372662 | usd |
CY2023Q1 | us-gaap |
Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
|
0 | usd |
CY2022Q4 | us-gaap |
Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
|
284000 | usd |
CY2023Q1 | us-gaap |
Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
|
1 | pure |
CY2023Q1 | us-gaap |
Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
|
95000 | usd |
CY2022Q1 | us-gaap |
Defined Contribution Plan Maximum Annual Contributions Per Employee Amount
DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount
|
45000 | usd |