2023 Q4 Form 20-F Financial Statement

#000121390024043550 Filed on May 15, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.955M $9.462M
YoY Change 214.14% 67.56%
% of Gross Profit
Research & Development $130.0K $8.311M
YoY Change -95.6% -41.76%
% of Gross Profit
Depreciation & Amortization $22.00K $212.0K
YoY Change -85.33% -47.52%
% of Gross Profit
Operating Expenses $4.085M $8.311M
YoY Change -3.08% -41.76%
Operating Profit -$19.29M
YoY Change -3.73%
Interest Expense $427.0K $13.00K
YoY Change -14.94% 8.33%
% of Operating Profit
Other Income/Expense, Net $1.719M
YoY Change 85.64%
Pretax Income -$3.658M -$17.57M
YoY Change -1.48% -8.06%
Income Tax
% Of Pretax Income
Net Earnings -$3.658M -$17.57M
YoY Change -1.48% -8.06%
Net Earnings / Revenue
Basic Earnings Per Share $3.00
Diluted Earnings Per Share -$0.63 $3.00
COMMON SHARES
Basic Shares Outstanding 5.851M shares 5.849M shares
Diluted Shares Outstanding 5.849M shares

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.76M $24.76M
YoY Change -40.63% -40.63%
Cash & Equivalents $8.844M $8.844M
Short-Term Investments $15.91M $15.91M
Other Short-Term Assets $11.00K $100.0K
YoY Change -95.07% -89.26%
Inventory
Prepaid Expenses $35.00K
Receivables
Other Receivables
Total Short-Term Assets $24.86M $24.86M
YoY Change -41.69% -41.69%
LONG-TERM ASSETS
Property, Plant & Equipment $161.0K $161.0K
YoY Change -90.81% -94.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $161.0K $161.0K
YoY Change -94.27% -94.27%
TOTAL ASSETS
Total Short-Term Assets $24.86M $24.86M
Total Long-Term Assets $161.0K $161.0K
Total Assets $25.02M $25.02M
YoY Change -44.95% -44.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $141.0K $141.0K
YoY Change -85.19% -85.19%
Accrued Expenses $406.0K $406.0K
YoY Change -74.59% -74.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.330M $1.330M
YoY Change -60.97% -60.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.330M $1.330M
Total Long-Term Liabilities $0.00
Total Liabilities $1.330M $1.330M
YoY Change -67.79% -67.79%
SHAREHOLDERS EQUITY
Retained Earnings -$144.9M
YoY Change 13.8%
Common Stock $83.75M
YoY Change 0.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.69M $23.69M
YoY Change
Total Liabilities & Shareholders Equity $25.02M $25.02M
YoY Change -44.95% -44.95%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.658M -$17.57M
YoY Change -1.48% -8.06%
Depreciation, Depletion And Amortization $22.00K $212.0K
YoY Change -85.33% -47.52%
Cash From Operating Activities -$3.539M -$16.95M
YoY Change -14.66% -9.37%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $83.00K
YoY Change -100.0% -82.92%
Acquisitions
YoY Change
Other Investing Activities $8.870M $21.44M
YoY Change -967.91% -278.33%
Cash From Investing Activities $8.870M $21.36M
YoY Change -896.95% -270.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities -3.539M -$16.95M
Cash From Investing Activities 8.870M $21.36M
Cash From Financing Activities
Net Change In Cash 5.331M $4.402M
YoY Change -201.35% -119.68%
FREE CASH FLOW
Cash From Operating Activities -$3.539M -$16.95M
Capital Expenditures $0.00 $83.00K
Free Cash Flow -$3.539M -$17.04M
YoY Change -16.49% -11.23%

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CY2023Q4 us-gaap Retained Earnings Unappropriated
RetainedEarningsUnappropriated
143191000 usd
CY2023 chek Percentage Of Reducing Workforce
PercentageOfReducingWorkforce
0.90 pure
CY2022Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1 for 10 to 1 for 20
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-20
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
48
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
18000000 shares
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>A.</b></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of estimates in preparation of financial statements</b></span></td> </tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The preparation of financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of expenses during the reporting periods. Actual results could differ from those estimates.</p>
CY2023 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"> <tr> <td style="width: 0.25in"> </td> <td style="vertical-align: top; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>F.</b></span></td> <td style="vertical-align: top; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash flow hedges</b></span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5IN; text-align: justify">As a matter of policy, the Company uses derivatives for risk management purposes and does not use derivatives for speculative purposes. From time to time, the Company may enter into foreign currency zero-cost collars or minimal cost collars contracts to hedge foreign currency cash flow transactions. However, the company did not use such derivative as hedging for accounting purposes and thus the changes in fair value of the derivative were carried to profit and loss, as incurred.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5IN; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5IN; text-align: justify">As of December 31, 2023, the Company had no outstanding hedge transactions. As of December 31, 2022, the Company had outstanding foreign exchange collars in the notional amount of approximately $5,264. These options were set for a period of up to eight months as of December 31, 2022. The Company measured the fair value of the options in accordance with provisions of ASC No. 820 (classified as level 2 of the fair value hierarchy). The fair value of the Company’s outstanding collars on December 31, 2022 amounted to a liability, net of $56 and was included in other current liabilities.</p>
CY2022Q4 us-gaap Derivative Asset Notional Amount
DerivativeAssetNotionalAmount
5264000 usd
CY2022Q4 chek Fair Value Of Hedging Option
FairValueOfHedgingOption
56000 usd
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
352000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
785 usd
CY2023Q4 chek Prepaid Government Institutions
PrepaidGovernmentInstitutions
44000 usd
CY2022Q4 chek Prepaid Government Institutions
PrepaidGovernmentInstitutions
88000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
35000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
260000 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
10000 usd
CY2022Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
8000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
11000 usd
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
223000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
100000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
579000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3336000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3288000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1749000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1537000 usd
CY2023 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
1426000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
161000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1751000 usd
CY2023 chek Sale Leaseback Transaction
SaleLeasebackTransaction
8300 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
20000 usd
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
107000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
329000 usd
CY2023Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
142000 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
529000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
264000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
732000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
406000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1261000 usd
CY2023 chek Deposits Rate
DepositsRate
0.0833 pure
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
118512000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
27700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
24232000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
27700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
24232000 usd
CY2022Q4 chek Royalties Provision
RoyaltiesProvision
94000 usd
CY2022Q4 chek Reported Price Amount
ReportedPriceAmount
2200 usd
CY2021 chek Final Grant Amount
FinalGrantAmount
349000 usd
CY2022Q1 chek Final Grant Amount
FinalGrantAmount
82000 usd
CY2023Q1 chek Final Grant Amount
FinalGrantAmount
225000 usd
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
900 sqm
CY2021 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2025-01-31
CY2021 us-gaap Lessor Operating Lease Option To Terminate
LessorOperatingLeaseOptionToTerminate
90 days
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
2600 usd
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FairValueNetAssetLiability
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CY2022Q4 us-gaap Money Market Funds At Carrying Value
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56000 usd
CY2022Q4 chek Financial Assets Liabilities Fair Value Disclosure
FinancialAssetsLiabilitiesFairValueDisclosure
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StockholdersEquityReverseStockSplit
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StockIssuedDuringPeriodSharesNewIssues
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CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2023Q4 us-gaap Shares Issued
SharesIssued
127.964 shares
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P12M
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
975000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
491000 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.7
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
1770000 usd
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
1047000 usd
CY2021 us-gaap Investment Income Interest
InvestmentIncomeInterest
101000 usd
CY2023 us-gaap Interest Expense
InterestExpense
13000 usd
CY2022 us-gaap Interest Expense
InterestExpense
12000 usd
CY2021 us-gaap Interest Expense
InterestExpense
13000 usd
CY2023 chek Changes In Liability To Pay Royalties
ChangesInLiabilityToPayRoyalties
94000 usd
CY2022 chek Changes In Liability To Pay Royalties
ChangesInLiabilityToPayRoyalties
37000 usd
CY2021 chek Changes In Liability To Pay Royalties
ChangesInLiabilityToPayRoyalties
22000 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-188000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-25000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-43000 usd
CY2023 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
56000 usd
CY2022 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-121000 usd
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
52000 usd
CY2023 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1719000 usd
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
926000 usd
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
119000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-17568000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-19108000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-17202000 usd
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5848737 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5671786 shares
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4159870 shares
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.37
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.14
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
19000 usd
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
58000 usd
CY2021 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
61000 usd
CY2016Q2 chek Employment Agreement Percentage
EmploymentAgreementPercentage
0.50 pure
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
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CY2023Q4 us-gaap Operating Lease Right Of Use Asset
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CY2023Q4 us-gaap Operating Lease Liability Current
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CY2023Q4 us-gaap Other Liabilities Current
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CY2023Q4 chek Royalties Provision
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CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
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CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
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CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.00
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.37
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.14
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4159870 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5671786 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5848737 shares
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
usd
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
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CY2023 us-gaap Proceeds From Issuance Initial Public Offering
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CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Noncash Or Part Noncash Acquisition Other Assets Acquired1
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CY2023Q4 us-gaap Restricted Cash Current
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CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2021 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2023Q4 chek Royalties Provision
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RoyaltiesProvision
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CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4159870 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5671786 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5848737 shares
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.00
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.37
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EarningsPerShareDiluted
4.14
CY2023 dei Amendment Flag
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false
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001610590

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