2024 Q2 Form 10-Q Financial Statement
#000121390024043566 Filed on May 15, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
Revenue | $68.00K | $59.00K | $0.00 |
YoY Change | |||
Cost Of Revenue | $245.0K | $153.0K | $175.0K |
YoY Change | 51.23% | -12.57% | |
Gross Profit | -$177.0K | -$94.00K | -$175.0K |
YoY Change | 9.26% | -46.29% | |
Gross Profit Margin | -260.29% | -159.32% | |
Selling, General & Admin | $2.092M | $2.444M | $1.747M |
YoY Change | -6.1% | 39.9% | |
% of Gross Profit | |||
Research & Development | $2.591M | $2.360M | $1.927M |
YoY Change | 20.34% | 22.47% | |
% of Gross Profit | |||
Depreciation & Amortization | $42.00K | $34.00K | $27.00K |
YoY Change | 25.93% | ||
% of Gross Profit | |||
Operating Expenses | $4.683M | $4.804M | $2.493M |
YoY Change | 4649.49% | 92.73% | 67.39% |
Operating Profit | -$4.860M | -$4.898M | -$2.493M |
YoY Change | 4829.21% | 96.5% | 67.39% |
Interest Expense | $669.0K | -$1.110M | $3.370M |
YoY Change | 74.43% | -132.94% | -76.66% |
% of Operating Profit | |||
Other Income/Expense, Net | $913.0K | -$1.372M | $681.5K |
YoY Change | -170.13% | -301.31% | -239.87% |
Pretax Income | -$3.947M | -$6.270M | $1.559M |
YoY Change | 288.1% | -502.12% | -87.49% |
Income Tax | $841.5K | ||
% Of Pretax Income | 53.97% | ||
Net Earnings | -$3.947M | -$6.270M | $717.7K |
YoY Change | 246.76% | -973.62% | -94.24% |
Net Earnings / Revenue | -5804.41% | -10627.12% | |
Basic Earnings Per Share | -$0.27 | -$0.32 | -$1.31 |
Diluted Earnings Per Share | -$0.27 | -$0.32 | $0.02 |
COMMON SHARES | |||
Basic Shares Outstanding | 19.60M shares | 19.60M shares | 10.12M shares |
Diluted Shares Outstanding | 19.60M shares | 19.60M shares | 10.12M shares |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.746M | $4.945M | $104.0K |
YoY Change | 1215.06% | 4653.89% | -18.17% |
Cash & Equivalents | $1.746M | $4.945M | $104.0K |
Short-Term Investments | |||
Other Short-Term Assets | $1.466M | $1.109M | $412.9K |
YoY Change | 453.37% | 168.59% | -33.1% |
Inventory | $1.582M | $1.455M | |
Prepaid Expenses | $412.9K | ||
Receivables | $174.0K | $189.0K | |
Other Receivables | $28.00K | $32.00K | |
Total Short-Term Assets | $4.996M | $7.730M | $516.9K |
YoY Change | 1156.23% | 1395.41% | -30.55% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $632.0K | $317.0K | |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $44.37M | ||
YoY Change | -89.56% | ||
Other Assets | $1.035M | ||
YoY Change | 100.81% | ||
Total Long-Term Assets | $1.741M | $750.0K | $45.40M |
YoY Change | -96.1% | -98.35% | -89.33% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.996M | $7.730M | $516.9K |
Total Long-Term Assets | $1.741M | $750.0K | $45.40M |
Total Assets | $6.737M | $8.480M | $45.92M |
YoY Change | -85.04% | -81.53% | -89.23% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.589M | $913.0K | $1.566M |
YoY Change | 11.0% | -41.69% | 137.64% |
Accrued Expenses | $6.004M | $5.621M | $5.546M |
YoY Change | 17.18% | 1.36% | 110.11% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $2.234M |
YoY Change | -100.0% | -100.0% | 197.91% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $8.058M | $6.996M | $9.499M |
YoY Change | -13.79% | -26.35% | 134.63% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $7.292M | $4.821M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $3.774M | $4.076M | $11.48M |
YoY Change | -68.26% | -64.49% | -46.71% |
Total Long-Term Liabilities | $11.07M | $8.897M | $11.48M |
YoY Change | -6.93% | -22.49% | -46.71% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.058M | $6.996M | $9.499M |
Total Long-Term Liabilities | $11.07M | $8.897M | $11.48M |
Total Liabilities | $19.12M | $15.89M | $20.98M |
YoY Change | -9.95% | -24.24% | -18.02% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$270.2M | -$264.9M | -$19.22M |
YoY Change | 1199.57% | 1277.85% | -20.74% |
Common Stock | $179.4K | ||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$12.39M | -$7.413M | -$19.22M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $6.737M | $8.480M | $45.92M |
YoY Change | -85.04% | -81.53% | -89.23% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2023 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$3.947M | -$6.270M | $717.7K |
YoY Change | 246.76% | -973.62% | -94.24% |
Depreciation, Depletion And Amortization | $42.00K | $34.00K | $27.00K |
YoY Change | 25.93% | ||
Cash From Operating Activities | -$4.908M | -$5.846M | -$2.180M |
YoY Change | 622.89% | 168.22% | 182.06% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $357.0K | $59.00K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$433.0K | -$109.0K | $389.0M |
YoY Change | -271.83% | -100.03% | |
Cash From Investing Activities | -$790.0K | -$109.0K | $389.0M |
YoY Change | -413.49% | -100.03% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 2.500M | $6.683M | -386.9M |
YoY Change | 448.62% | -101.73% | -51683.0% |
NET CHANGE | |||
Cash From Operating Activities | -4.908M | -$5.846M | -2.180M |
Cash From Investing Activities | -790.0K | -$109.0K | 389.0M |
Cash From Financing Activities | 2.500M | $6.683M | -386.9M |
Net Change In Cash | -3.198M | $727.0K | -3.753K |
YoY Change | -11223.48% | -19471.17% | -83.5% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.908M | -$5.846M | -$2.180M |
Capital Expenditures | $357.0K | $59.00K | |
Free Cash Flow | -$5.265M | -$5.846M | -$2.239M |
YoY Change | 161.15% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2024Q1 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
CY2024Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2024-03-31 | |
CY2024Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | |
CY2024Q1 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2024Q1 | dei |
Entity File Number
EntityFileNumber
|
001-40133 | |
CY2024Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
ENVOY MEDICAL, INC. | |
CY2024Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2024Q1 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
86-1369123 | |
CY2024Q1 | dei |
Entity Address Address Line1
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4875 White Bear Parkway | |
CY2024Q1 | dei |
Entity Address City Or Town
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White Bear Lake | |
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EntityAddressStateOrProvince
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MN | |
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Entity Address Postal Zip Code
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|
55110 | |
CY2024Q1 | dei |
City Area Code
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|
(877) | |
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Local Phone Number
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|
900-3277 | |
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Entity Current Reporting Status
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Yes | |
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Entity Interactive Data Current
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Yes | |
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Non-accelerated Filer | |
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|
119000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
22000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-144000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
|
-28000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
140000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
43000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
37000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-641000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1018000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-27000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-19000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-357000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-180000 | usd |
CY2024Q1 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
-6000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
-62000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5846000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3011000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
59000 | usd |
CY2024Q1 | us-gaap |
Payments For Other Deposits
PaymentsForOtherDeposits
|
109000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-109000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-59000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
4000000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
5000000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1683000 | usd |
CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6683000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4000000 | usd |
CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-1000 | usd |
CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
727000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
931000 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4218000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
183000 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4945000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1114000 | usd |
CY2023Q1 | coch |
Deemed Capital Contribution From Related Party
DeemedCapitalContributionFromRelatedParty
|
1952000 | usd |
CY2024Q1 | coch |
Dividends On Series A Preferred Shares
DividendsOnSeriesAPreferredShares
|
1365000 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
425606 | shares |
CY2024Q1 | us-gaap |
Prepayment Fees On Advances Net
PrepaymentFeesOnAdvancesNet
|
4500000 | usd |
CY2024Q1 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
8512 | shares |
CY2024Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
4 | |
CY2024Q1 | coch |
Proceeds From Purchase Agreement Amount
ProceedsFromPurchaseAgreementAmount
|
1700000 | usd |
CY2023Q2 | us-gaap |
Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
|
10000000 | usd |
CY2024Q1 | us-gaap |
Retained Earnings Appropriated
RetainedEarningsAppropriated
|
264900000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
|
5000000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Sale Of Other Receivables
ProceedsFromSaleOfOtherReceivables
|
1700000 | usd |
CY2023Q3 | us-gaap |
Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
|
11700000 | usd |
CY2024Q1 | us-gaap |
Cash
Cash
|
4900000 | usd |
CY2024Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include but are not limited to the useful lives of property and equipment, inventory reserves, warranty liability, stock-based compensation expense, the fair value of forward purchase agreement put option liability, the fair value of forward purchase agreement warrant liability and the outcome of litigation. Estimates and assumptions are reviewed periodically and the effect of changes, if any, are reflected in the unaudited condensed consolidated statements of operations and comprehensive loss.</span></p> | |
CY2024Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclassification</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain items in prior financial statements have been reclassified to conform to the current presentation.</span></p> | |
CY2024Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Concentration of Credit Risk and Significant Customers</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable, net. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains its cash with financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">With respect to accounts receivable, the Company performs credit evaluations of its customers and does not require collateral. There have been no material losses on the Company’s accounts receivable. There were no customers that accounted for 10.0% or more of sales for the three months ended March 31, 2024 and 2023, respectively. There were no customers that accounted for 10.0% or more of the accounts receivable balance as of March 31, 2024 and December 31, 2023, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 16.2pt; text-align: justify"> </p> | |
CY2024Q1 | us-gaap |
Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
|
2200000 | usd |
CY2024Q1 | coch |
Warranty Liability
WarrantyLiability
|
2200000 | usd |
CY2023Q4 | coch |
Warranty Liability
WarrantyLiability
|
2200000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
300000 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
300000 | usd |
CY2024Q1 | us-gaap |
Income Tax Examination Likelihood Of Unfavorable Settlement
IncomeTaxExaminationLikelihoodOfUnfavorableSettlement
|
greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority | |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6300000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13300000 | usd |
CY2024Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | pure |
CY2024Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | pure |
CY2024Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1
|
8512 | shares |
CY2024Q1 | coch |
Purchase Transaction Price
PurchaseTransactionPrice
|
10 | |
CY2024Q1 | us-gaap |
Payments For Purchase Of Other Assets1
PaymentsForPurchaseOfOtherAssets1
|
10000000 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.12 | pure |
CY2024Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1244000 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1162000 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
105000 | usd |
CY2023Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
158000 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
106000 | usd |
CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
84000 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
1455000 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
1404000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
97000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
97000 | usd |
CY2024Q1 | coch |
Schedule Of Other Supplemental Information
ScheduleOfOtherSupplementalInformation
|
<span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other supplemental information of lease amounts recognized in the unaudited condensed consolidated financial statements is summarized as follows:</span><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended<br/> March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">113</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">111</td><td style="width: 1%; text-align: left"> </td></tr> </table> | |
CY2024Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
113000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
111000 | usd |
CY2024Q1 | coch |
Schedule Of Weighted Average Operating Lease
ScheduleOfWeightedAverageOperatingLease
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">March 31,<br/> 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; width: 76%; text-align: left">Weighted-average remaining lease term (in years)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">3.9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0</td><td style="text-align: left">%</td></tr> </table> | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y7M6D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y10M24D | |
CY2024Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.05 | pure |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.05 | pure |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
135000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
154000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
155000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
99000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
543000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
8000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
535000 | usd |
CY2024Q1 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
2234000 | usd |
CY2024Q1 | coch |
Standard Product Warranty Utilization
StandardProductWarrantyUtilization
|
-6000 | usd |
CY2023Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
2228000 | usd |
CY2024Q1 | us-gaap |
Unrecovered Production Costs Excess Of Estimated Average Unit Cost
UnrecoveredProductionCostsExcessOfEstimatedAverageUnitCost
|
6000 | usd |
CY2024Q1 | us-gaap |
Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
|
P5Y | |
CY2024Q1 | us-gaap |
Percentage Of Weighted Average Cost Inventory
PercentageOfWeightedAverageCostInventory
|
0.036 | pure |
CY2024Q1 | coch |
Discount Rate
DiscountRate
|
0.05 | pure |
CY2024Q1 | coch |
Withdrawal Of Funds
WithdrawalOfFunds
|
5000000 | usd |
CY2024Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.24 | |
CY2024Q1 | coch |
Expiration Date
ExpirationDate
|
2027-02-27 | |
CY2024Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
179380 | usd |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
500000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
100000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q1 | us-gaap |
Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
|
11.5 | |
CY2024Q1 | us-gaap |
Auction Market Preferred Securities Stock Series Par Value Per Share
AuctionMarketPreferredSecuritiesStockSeriesParValuePerShare
|
15 | |
CY2024Q1 | us-gaap |
Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
|
0.12 | pure |
CY2024Q1 | us-gaap |
Other Additional Capital
OtherAdditionalCapital
|
10000000 | usd |
CY2024Q1 | coch |
Unpaid Dividend
UnpaidDividend
|
1500000 | usd |
CY2023Q4 | coch |
Unpaid Dividend
UnpaidDividend
|
800000 | usd |
CY2024Q1 | us-gaap |
Preferred Stock Dividends Per Share Cash Paid
PreferredStockDividendsPerShareCashPaid
|
10 | |
CY2023Q2 | coch |
Expire Term For Grant
ExpireTermForGrant
|
P10Y | |
CY2023Q4 | us-gaap |
Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
|
2.4 | |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
720505 | shares |
CY2024Q1 | coch |
Percentage Of Stock Options Vested
PercentageOfStockOptionsVested
|
0.50 | pure |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1967734 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.38 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
31955 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.35 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1999689 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.37 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y6M25D | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
3103871000 | usd |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
934673 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.4 | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P9Y6M18D | |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
1420703000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
500000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
500000 | usd |
CY2024Q1 | us-gaap |
Litigation Settlement Expense
LitigationSettlementExpense
|
50000 | usd |
CY2023 | us-gaap |
Litigation Settlement Expense
LitigationSettlementExpense
|
50000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-6270000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-13253000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13253000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-6270000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-13253000 | usd |
CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
19599982 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10122581 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.32 | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.31 | |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
19599982 | shares |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10122581 | shares |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.32 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.31 | |
CY2024Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
21079398 | shares |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
263000 | shares |
CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q1 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
usd | |
CY2023Q1 | us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
usd | |
CY2023Q1 | us-gaap |
Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
|
usd | |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2023Q1 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
usd | |
CY2024Q1 | us-gaap |
Other Expenses
OtherExpenses
|
usd | |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-13253000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-6270000 | usd |
CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.32 | |
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.31 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10122581 | shares |
CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
19599982 | shares |
CY2023Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
usd | |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
usd | |
CY2024Q1 | coch |
Change In Fair Value Of Warrant Liabilityrelated Party
ChangeInFairValueOfWarrantLiabilityrelatedParty
|
usd | |
CY2024Q1 | coch |
Other Expense Related To Warrant Liabilityrelated Party
OtherExpenseRelatedToWarrantLiabilityrelatedParty
|
usd | |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | |
CY2023Q1 | coch |
Change In Fair Value Of Forward Purchase Agreement Warrant Liability
ChangeInFairValueOfForwardPurchaseAgreementWarrantLiability
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
|
usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
usd | |
CY2024Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2023Q1 | us-gaap |
Payments For Other Deposits
PaymentsForOtherDeposits
|
usd | |
CY2024Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
usd | |
CY2023Q1 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
usd | |
CY2023Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2024Q1 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2023Q1 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2024Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | |
CY2023Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | |
CY2024Q1 | coch |
Deemed Capital Contribution From Related Party
DeemedCapitalContributionFromRelatedParty
|
usd | |
CY2023Q1 | coch |
Dividends On Series A Preferred Shares
DividendsOnSeriesAPreferredShares
|
usd | |
CY2024Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
||
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
||
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
usd | |
CY2024Q1 | coch |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
|
||
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
|
||
CY2024Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
usd | |
CY2023Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
|
usd | |
CY2024Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2024Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001840877 |