2022 Q3 Form 10-Q Financial Statement
#000121390022048187 Filed on August 15, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
Revenue | $11.18M | $10.92M | $10.76M |
YoY Change | 135.22% | 233.32% | 115.14% |
Cost Of Revenue | $6.666M | $6.261M | $6.865M |
YoY Change | 177.06% | 346.58% | 147.83% |
Gross Profit | $4.514M | $4.662M | $3.892M |
YoY Change | 92.33% | 148.64% | 74.53% |
Gross Profit Margin | 40.38% | 42.68% | 36.18% |
Selling, General & Admin | $3.507M | $3.709M | $3.567M |
YoY Change | 61.02% | 102.13% | 84.82% |
% of Gross Profit | 77.69% | 79.56% | 91.65% |
Research & Development | $238.0K | $418.0K | $241.0K |
YoY Change | 5.31% | 620.69% | 41.76% |
% of Gross Profit | 5.27% | 8.97% | 6.19% |
Depreciation & Amortization | $885.0K | $468.0K | $707.0K |
YoY Change | 155.04% | 34.48% | 107.94% |
% of Gross Profit | 19.61% | 10.04% | 18.17% |
Operating Expenses | $4.798M | $4.632M | $4.515M |
YoY Change | 74.41% | 102.62% | 84.29% |
Operating Profit | -$284.0K | $30.00K | -$623.0K |
YoY Change | -29.7% | -107.3% | 183.18% |
Interest Expense | $757.0K | $750.0K | $5.020M |
YoY Change | -506.99% | 312.09% | -2108.0% |
% of Operating Profit | 2500.0% | ||
Other Income/Expense, Net | -$280.0K | $1.285M | $6.000K |
YoY Change | 3400.0% | -10.95% | |
Pretax Income | -$564.0K | $1.315M | $2.505M |
YoY Change | 64.91% | 27.42% | 97.24% |
Income Tax | -$10.00K | $53.00K | $3.000K |
% Of Pretax Income | 4.03% | 0.12% | |
Net Earnings | -$554.0K | $1.262M | $2.502M |
YoY Change | 61.52% | 23.12% | 97.01% |
Net Earnings / Revenue | -4.96% | 11.55% | 23.26% |
Basic Earnings Per Share | -$0.03 | $0.06 | $0.51 |
Diluted Earnings Per Share | -$0.03 | $0.06 | $171.2K |
COMMON SHARES | |||
Basic Shares Outstanding | 21.75M shares | 21.70M shares | 4.873M |
Diluted Shares Outstanding | 21.75M shares | 21.70M shares | 4.873M |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $819.0K | $2.840M | $5.988M |
YoY Change | -70.45% | -5.46% | 69.15% |
Cash & Equivalents | $819.0K | $2.840M | $5.988M |
Short-Term Investments | |||
Other Short-Term Assets | $1.618M | $3.111M | $2.325M |
YoY Change | 6.66% | 90.28% | 252.27% |
Inventory | $3.108M | $2.638M | $2.024M |
Prepaid Expenses | |||
Receivables | $7.186M | $8.194M | $8.806M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $12.95M | $17.19M | $19.14M |
YoY Change | 43.7% | 99.06% | 88.6% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $193.0K | $140.0K | $1.227M |
YoY Change | -89.66% | -92.59% | -41.57% |
Goodwill | $26.09M | $26.09M | |
YoY Change | |||
Intangibles | $33.04M | ||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $19.00K | $17.00K | $52.00K |
YoY Change | 280.0% | 41.67% | 420.0% |
Total Long-Term Assets | $51.76M | $51.32M | $43.74M |
YoY Change | 305.38% | 296.69% | 229.34% |
TOTAL ASSETS | |||
Total Short-Term Assets | $12.95M | $17.19M | $19.14M |
Total Long-Term Assets | $51.76M | $51.32M | $43.74M |
Total Assets | $64.71M | $68.52M | $62.88M |
YoY Change | 197.11% | 217.58% | 168.37% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.040M | $5.047M | $4.881M |
YoY Change | 95.62% | 457.06% | 214.9% |
Accrued Expenses | $3.029M | $2.672M | $3.019M |
YoY Change | 53.21% | 26.7% | 20.76% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $399.0K | $0.00 | $0.00 |
YoY Change | -67.0% | ||
Long-Term Debt Due | $1.777M | $2.089M | $2.396M |
YoY Change | 46.1% | ||
Total Short-Term Liabilities | $13.44M | $16.54M | $16.86M |
YoY Change | 128.6% | 257.86% | 109.9% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $13.35M | $13.39M | $13.03M |
YoY Change | 136.88% | 101.04% | 101.06% |
Other Long-Term Liabilities | $11.52M | $12.15M | $13.94M |
YoY Change | 2199.6% | 1972.87% | 2077.34% |
Total Long-Term Liabilities | $24.87M | $25.54M | $26.96M |
YoY Change | 305.25% | 252.42% | 278.71% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $13.44M | $16.54M | $16.86M |
Total Long-Term Liabilities | $24.87M | $25.54M | $26.96M |
Total Liabilities | $38.31M | $42.08M | $43.82M |
YoY Change | 218.83% | 254.54% | 189.23% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$49.08M | -$48.52M | |
YoY Change | |||
Common Stock | $217.0K | $217.0K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $26.40M | $26.44M | $19.06M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $64.71M | $68.52M | $62.88M |
YoY Change | 197.11% | 217.58% | 168.37% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$554.0K | $1.262M | $2.502M |
YoY Change | 61.52% | 23.12% | 97.01% |
Depreciation, Depletion And Amortization | $885.0K | $468.0K | $707.0K |
YoY Change | 155.04% | 34.48% | 107.94% |
Cash From Operating Activities | -$987.0K | -$1.264M | $1.201M |
YoY Change | 24575.0% | 268.51% | -6105.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$722.0K | -$1.575M | -$785.0K |
YoY Change | 216.67% | 1775.0% | 554.17% |
Acquisitions | $17.18M | ||
YoY Change | |||
Other Investing Activities | $0.00 | -$2.000K | -$17.18M |
YoY Change | |||
Cash From Investing Activities | -$722.0K | -$1.577M | -$17.97M |
YoY Change | 216.67% | 1777.38% | 14874.17% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -312.0K | -307.0K | 19.87M |
YoY Change | 192.38% | 974.22% | |
NET CHANGE | |||
Cash From Operating Activities | -987.0K | -1.264M | 1.201M |
Cash From Investing Activities | -722.0K | -1.577M | -17.97M |
Cash From Financing Activities | -312.0K | -307.0K | 19.87M |
Net Change In Cash | -2.021M | -3.148M | 3.105M |
YoY Change | 771.12% | 491.73% | 81.58% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$987.0K | -$1.264M | $1.201M |
Capital Expenditures | -$722.0K | -$1.575M | -$785.0K |
Free Cash Flow | -$265.0K | $311.0K | $1.986M |
YoY Change | -218.3% | -220.08% | 1886.0% |
Facts In Submission
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---|---|---|---|---|
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Document Type
DocumentType
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10-Q | ||
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Document Period End Date
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2022-06-30 | ||
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2022 | ||
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001-33169 | ||
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Creative Realities, Inc. | ||
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MN | ||
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KY | ||
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41-1967918 | ||
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13100 Magisterial Drive | ||
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Suite 100 | ||
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Louisville | ||
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40223 | ||
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2562000 | usd |
CY2021Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1666000 | usd |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5316000 | usd | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3775000 | usd | |
CY2021Q2 | crex |
Bad Debtrecoveryexpense
BadDebtrecoveryexpense
|
49000 | usd |
crex |
Bad Debtrecoveryexpense
BadDebtrecoveryexpense
|
106000 | usd | |
crex |
Bad Debtrecoveryexpense
BadDebtrecoveryexpense
|
-463000 | usd | |
CY2022Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
468000 | usd |
CY2021Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
344000 | usd |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1175000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
688000 | usd | |
CY2022Q2 | crex |
Deal And Transaction Costs
DealAndTransactionCosts
|
37000 | usd |
crex |
Deal And Transaction Costs
DealAndTransactionCosts
|
428000 | usd | |
CY2022Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
4632000 | usd |
CY2021Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
2286000 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
9538000 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
4733000 | usd | |
CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
30000 | usd |
CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-411000 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-984000 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-624000 | usd | |
CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
750000 | usd |
CY2021Q2 | us-gaap |
Interest Expense
InterestExpense
|
182000 | usd |
us-gaap |
Interest Expense
InterestExpense
|
1199000 | usd | |
us-gaap |
Interest Expense
InterestExpense
|
431000 | usd | |
CY2022Q2 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-2433000 | usd |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-7902000 | usd | |
CY2022Q2 | crex |
Change In Fair Value Of Equity Guarantee
ChangeInFairValueOfEquityGuarantee
|
-73000 | usd |
crex |
Change In Fair Value Of Equity Guarantee
ChangeInFairValueOfEquityGuarantee
|
-73000 | usd | |
crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
1212000 | usd | |
CY2022Q2 | crex |
Loss On Warrant Amendment
LossOnWarrantAmendment
|
345000 | usd |
crex |
Loss On Warrant Amendment
LossOnWarrantAmendment
|
345000 | usd | |
CY2022Q2 | crex |
Gain On Settlement Of Obligations
GainOnSettlementOfObligations
|
21000 | usd |
CY2021Q2 | crex |
Gain On Settlement Of Obligations
GainOnSettlementOfObligations
|
1628000 | usd |
crex |
Gain On Settlement Of Obligations
GainOnSettlementOfObligations
|
-274000 | usd | |
crex |
Gain On Settlement Of Obligations
GainOnSettlementOfObligations
|
3193000 | usd | |
crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
-166000 | usd | |
CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1000 | usd |
CY2021Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-3000 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
5000 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1000 | usd | |
CY2022Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1285000 | usd |
CY2021Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1443000 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
4804000 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
2929000 | usd | |
CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1315000 | usd |
CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1032000 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
3820000 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2305000 | usd | |
CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
53000 | usd |
CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
7000 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
56000 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
8000 | usd | |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1262000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1025000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
3764000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
2297000 | usd | |
CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.06 | |
CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.09 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.21 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.2 | ||
CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.06 | |
CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.21 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.2 | ||
CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
21702000 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11854000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
18180000 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11588000 | shares | |
CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
21702000 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11862000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
18180000 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11596000 | shares | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
3764000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
2297000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1175000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
688000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
541000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
101000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
949000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
895000 | usd | |
us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
65000 | usd | |
us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
40000 | usd | |
us-gaap |
Gains Losses On Restructuring Of Debt
GainsLossesOnRestructuringOfDebt
|
1552000 | usd | |
crex |
Gain On Settlement Of Seller Note
GainOnSettlementOfSellerNote
|
-1538000 | usd | |
crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
-166000 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
106000 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-30000 | usd | |
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
310000 | usd | |
crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
1212000 | usd | |
crex |
Loss On Warrants Amendment
LossOnWarrantsAmendment
|
345000 | usd | |
crex |
Loss On Change In Fair Value Of Contingent Consideration
LossOnChangeInFairValueOfContingentConsideration
|
73000 | usd | |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
7902000 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-274000 | usd | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
103000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4035000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-443000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
562000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-283000 | usd | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-184000 | usd | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
1128000 | usd | |
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
-995000 | usd | |
crex |
Operating Lease Liabilities Net
OperatingLeaseLiabilitiesNet
|
699000 | usd | |
crex |
Operating Lease Liabilities Net
OperatingLeaseLiabilitiesNet
|
-176000 | usd | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-21000 | usd | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
7000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2487000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-742000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
1178000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
247000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
229000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-220000 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-809000 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
173000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
718000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-184000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-63000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-363000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
32000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10000 | usd | |
crex |
Capitalization Of Internal And External Labor For Software Development
CapitalizationOfInternalAndExternalLaborForSoftwareDevelopment
|
2328000 | usd | |
crex |
Capitalization Of Internal And External Labor For Software Development
CapitalizationOfInternalAndExternalLaborForSoftwareDevelopment
|
194000 | usd | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
17186000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-19546000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-204000 | usd | |
crex |
Principal Payments On Finance Leases
PrincipalPaymentsOnFinanceLeases
|
4000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1814000 | usd | |
crex |
Proceeds From Sale Of Prefunded Warrants In Pipe Net Of Offering Expenses
ProceedsFromSaleOfPrefundedWarrantsInPIPENetOfOfferingExpenses
|
8295000 | usd | |
crex |
Proceeds From Acquisition Loan
ProceedsFromAcquisitionLoan
|
9868000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
411000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
100000 | usd | |
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
1849000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
19566000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1745000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-43000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
1178000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2883000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1826000 | usd |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2840000 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3004000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19060000 | usd |
CY2022Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
341000 | usd |
CY2022Q2 | crex |
Stockbased Compensation Vendors
StockbasedCompensationVendors
|
65000 | usd |
CY2022Q2 | crex |
Adjustments To Additional Paid In Capital Warrant Amendment
AdjustmentsToAdditionalPaidInCapitalWarrantAmendment
|
5709000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1262000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
26437000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8729000 | usd |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
892000 | usd | |
crex |
Stockbased Compensation Vendors
StockbasedCompensationVendors
|
65000 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
2278000 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5000000 | usd | |
crex |
Adjustments To Additional Paid In Capital Warrant Amendment
AdjustmentsToAdditionalPaidInCapitalWarrantAmendment
|
5709000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
3764000 | usd | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
26437000 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8285000 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
40000 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
25000 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
331000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1025000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9706000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4335000 | usd |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
40000 | usd | |
us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
50000 | usd | |
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
845000 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
264000 | usd | |
crex |
Gain On Extinguishment Of Special Loan
GainOnExtinguishmentOfSpecialLoan
|
26000 | usd | |
us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
1849000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
2297000 | usd | |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9706000 | usd |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span style="text-decoration:underline">NOTE 1: NATURE OF ORGANIZATION AND OPERATIONS</span></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Unless the context otherwise indicates, references in these Notes to the accompanying Consolidated Financial Statements to “we,” “us,” “our” and “the Company” refer to Creative Realities, Inc. and its subsidiaries.</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Nature of the Company’s Business</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Creative Realities, Inc. is a Minnesota corporation that provides innovative digital marketing technology and solutions to retail companies, individual retail brands, enterprises and organizations throughout the United States and in certain international markets. The Company has expertise in a broad range of existing and emerging digital marketing technologies, as well as the related media management and distribution software platforms and networks, device management, product management, customized software service layers, systems, experiences, workflows, and integrated solutions. Our technology and solutions include: digital merchandising systems and omni-channel customer engagement systems, interactive digital shopping assistants, advisors and kiosks, and other interactive marketing technologies such as mobile, social media, point-of-sale transactions, beaconing and web-based media that enable our customers to transform how they engage with consumers. We have expertise in a broad range of existing and emerging digital marketing technologies, as well as the following related aspects of our business: content, network management, and connected device software and firmware platforms; customized software service layers; hardware platforms; digital media workflows; and proprietary processes and automation tools.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our main operations are conducted directly through Creative Realities, Inc., and under our wholly owned subsidiaries Allure Global Solutions, Inc., a Georgia corporation, Creative Realities Canada, Inc., a Canadian corporation, and Reflect Systems, Inc., a Delaware corporation.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Acquisition of Reflect</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On November 12, 2021, the Company and Reflect Systems, Inc., or “Reflect,” entered into an Agreement and Plan of Merger (as amended on as amended on February 8, 2022, the “Merger Agreement”) pursuant to which a direct, wholly owned subsidiary of Creative Realities, CRI Acquisition Corporation, or “Merger Sub,” would merge with and into Reflect, with Reflect surviving as a wholly owned subsidiary of Creative Realities, and the surviving company of the merger, which transaction is referred to herein as the “Merger.” On February 17, 2022, the parties consummated the Merger.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reflect provides digital signage solutions, including software, strategic and media services to a wide range of companies across the retail, financial, hospitality and entertainment, healthcare, and employee communications industries in North America. Reflect offers digital signage platforms, including ReflectView, a platform used by companies to power hundreds of thousands of active digital displays. Through its strategic services, Reflect assists its customers with designing, deploying and optimizing their digital signage networks, and through its media services, Reflect assists customers with monetizing their digital advertising networks.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the terms and conditions of the Merger Agreement, upon the closing of the Merger, Reflect stockholders as of the effective time of the Merger collectively received from the Company, in the aggregate, the following Merger consideration: (i) $16,166 in cash, (ii) 2,333,334 shares of common stock of Creative Realities (valued based on an issuance price of $2 per share) (the “CREX Shares”), (iii) the Secured Promissory Note (as described below), and (iv) supplemental cash payments (the “Guaranteed Consideration”), if any, payable on or after the three-year anniversary of the effective time of the Merger (subject to the Extension Option described below, the “Guarantee Date”), in an amount by which the value of the CREX Shares on such anniversary is less than $6.40 per share, or if certain customers of Reflect collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022, is less than $7.20 per share (such applicable amount, the “Guaranteed Price”), multiplied by the amount of CREX Shares held by the Reflect stockholders on the Guarantee Date (subject to the Extension Option described below), subject to the terms of the Merger Agreement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Creative Realities may exercise an extension option (the “Extension Option”) to extend the Guarantee Date from the three-year anniversary of the Closing Date to six (6) months thereafter if (i) the Extension Threshold Price is greater than or equal to 70% of the Guaranteed Price described above, and (ii) Creative Realities provides written notice of its election to exercise the Extension Option at least ten (10) days prior to the three-year anniversary of the Closing. The “Extension Threshold Price” means the average closing price per share of Creative Realities Shares as reported on the Nasdaq Capital Market (or NYSE) in the fifteen (15) consecutive trading day period ending fifteen (15) calendar days prior to the three-year anniversary of the Closing Date. If the Extension Threshold Price is less than 80% of the Guaranteed Price, then the Guaranteed Price will be increased by $1.00 per share.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Merger, the Company adopted a Retention Bonus Plan and raised capital to, among other things, pay the cash portion of the Merger consideration. The Retention Bonus Plan and financings are described below.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><i>Retention Bonus Plan</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2022, in connection with the closing of the Merger (the “Closing”), the Company adopted a Retention Bonus Plan, pursuant to which the Company is required to pay to key members of Reflect’s management team an aggregate of $1,333 in cash, which was paid 50% at the Closing, and subject to continuous employment with Reflect or Creative Realities, 25% on the one-year anniversary of Closing and 25% on the two-year anniversary of the Closing. The future cash payments due on the one-year and two-year anniversaries of the Closing have been deposited into an escrow agreement. The Retention Bonus Plan also requires the Company to issue Common Stock having an aggregate value of $667 to the plan participants as follows: 50% of the value of such shares were issued at the Closing, and subject to continuous employment with Reflect or Creative Realities, 25% of the value of such shares will be issued on the one-year anniversary of Closing and the remaining 25% of the value of such shares will be issued on the two-year anniversary of the Closing. The shares issued on the Closing were valued at $2.00 per share, and the shares to be issued after the Closing will be determined based on dividing the value of shares issuable on such date divided by the trailing 10-day volume weighted average price (VWAP) of the shares as of such date as reported on the Nasdaq Capital Market.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the resignation of a participant’s employment for “good reason,” or termination of the employment of a participant without “cause,” each as defined in the Retention Bonus Plan, the participant will be fully vested and will receive all cash and shares allocated to such participant under the Retention Bonus Plan. Any amounts unpaid by reason of a lapse in continuous employment or otherwise will be reallocated among the remaining Retention Bonus Plan participants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Equity Financing</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 3, 2022, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with a purchaser (the “Purchaser”), pursuant to which the Company agreed to issue and sell to the Purchaser, in a private placement priced at-the-market under Nasdaq rules, (i) 1,315,000 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”) and accompanying warrants to purchase an aggregate of 1,315,000 shares of Common Stock, and (ii) pre-funded warrants to purchase up to an aggregate of 5,851,505 shares of Common Stock (the “Pre-Funded Warrants”) and accompanying warrants to purchase an aggregate of 5,851,505 shares of Common Stock (collectively, the “Private Placement”). The accompanying warrants to purchase Common Stock are referred to herein collectively as the “Common Stock Warrants.” Under the Securities Purchase Agreement, each Share and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.535, and each Pre-Funded Warrant and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.5349, for gross proceeds of approximately $11,000 before deducting placement agent fees and offering expenses payable by the Company. Net proceeds to the Company were $10,160. The remaining exercise price for the Pre-Funded Warrant was $0.0001. Collectively, we refer to this transaction throughout this filing as the “Equity Financing”. The net proceeds from the Private Placement were used to fund, in part, payment of the closing cash consideration in the Merger.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective June 30, 2022, the Company amended the terms of Common Stock Warrants to remove the holder’s option to exercise such warrants on a cashless basis utilizing the volume weighted average price (“VWAP”) of the Company’s common stock on the trading day immediately preceding the date of a notice of cashless exercise in certain circumstances, and removes the condition to exercising such warrants that the Company’s shareholders approve the exercise thereof (which has already been obtained). The amendments to the Common Stock Warrants also extend the term of such warrants for an additional one year, The foregoing amendments to the warrants are intended to cause such warrants to be accounted for as equity instruments on the Company’s financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Debt Financing</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2022, the Company and its subsidiaries (collectively, the “Borrowers”) refinanced their current debt facilities with Slipstream Communications, LLC (“Slipstream”), pursuant to a Second Amended and Restated Credit and Security Agreement (the “Credit Agreement”), and raised $10,000 in gross proceeds with a maturity date of February 1, 2025. The Credit Agreement also provides that the Company’s outstanding loans from Slipstream, consisting of its pre-existing $4,767 senior secured term loan and $2,418 secured convertible loan, with an aggregate of $7,185 in outstanding principal and accrued and unpaid interest under such loans, were consolidated into a Consolidation Term Loan with a maturity date of February 1, 2025. Collectively, we refer to this transaction throughout this filing as the “Debt Financing”. The net proceeds from the Credit Agreement were used to fund, in part, payment of the closing cash consideration in the Merger, and the cash payable under the terms of the Retention Bonus Plan at the Closing.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2022, in connection with the closing of the acquisition of Reflect, the Company issued to the representative of Reflect stockholders, RSI Exit Corporation (“Stockholders’ Representative”), a $2,500 Note and Security Agreement (the “Secured Promissory Note”). The Secured Promissory Note accrues interest at 0.59% (the applicable federal rate) and requires the Company and Reflect to pay equal monthly principal installments of $104 on the fifteenth (15th) day of each month, commencing on March 15, 2022, Any remaining or unpaid principal is due and payable on February 17, 2023. The Secured Promissory Note represents consideration in the Merger and is included as part of the purchase price.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See Note 9 <i>Loans Payable </i>to the Consolidated Financial Statements for an additional discussion of the Company’s debt obligations and further discussion of the Company’s refinancing activities subsequent to December 31, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><i>Liquidity and Financial Condition</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The accompanying Condensed Consolidated Financial Statements have been prepared on the basis of the realization of assets and the satisfaction of liabilities and commitments in the normal course of business and do not include any adjustments to the recoverability and classifications of recorded assets and liabilities as a result of uncertainties.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the three months ended June 30, 2022 and 2021 we have recognized net income of $1,262 and $1,025, respectively. For the six months ended June 30, 2022 and 2021, we recognized net income of $3,764 and $2,297, respectively. As of June 30, 2022, we had cash and cash equivalents of $2,840 and a working capital surplus of $649.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; ">Management believes that, based on (i) the refinancing of our debt as part of the Debt Financing, including extension of the maturity date on our term loans, and (ii) our operational forecast through 2022 and 2023 following completion of the Merger, that we can continue as a going concern through at least August 15, 2023. However, given our historical net losses and cash used in operating activities, we obtained a continued support letter from Slipstream through August 15, 2023. We can provide no assurance that our ongoing operational efforts will be successful which could have a material adverse effect on our results of operations and cash flows.</p> | ||
crex |
Merger Agreement Description
MergerAgreementDescription
|
Subject to the terms and conditions of the Merger Agreement, upon the closing of the Merger, Reflect stockholders as of the effective time of the Merger collectively received from the Company, in the aggregate, the following Merger consideration: (i) $16,166 in cash, (ii) 2,333,334 shares of common stock of Creative Realities (valued based on an issuance price of $2 per share) (the “CREX Shares”), (iii) the Secured Promissory Note (as described below), and (iv) supplemental cash payments (the “Guaranteed Consideration”), if any, payable on or after the three-year anniversary of the effective time of the Merger (subject to the Extension Option described below, the “Guarantee Date”), in an amount by which the value of the CREX Shares on such anniversary is less than $6.40 per share, or if certain customers of Reflect collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022, is less than $7.20 per share (such applicable amount, the “Guaranteed Price”), multiplied by the amount of CREX Shares held by the Reflect stockholders on the Guarantee Date (subject to the Extension Option described below), subject to the terms of the Merger Agreement. | ||
crex |
Guaranteed Price Percentage
GuaranteedPricePercentage
|
0.80 | pure | |
crex |
Guaranteed Price Per Share
GuaranteedPricePerShare
|
1 | ||
CY2022Q1 | us-gaap |
Key Provisions Of Operating Or Partnership Agreement Description
KeyProvisionsOfOperatingOrPartnershipAgreementDescription
|
the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with a purchaser (the “Purchaser”), pursuant to which the Company agreed to issue and sell to the Purchaser, in a private placement priced at-the-market under Nasdaq rules, (i) 1,315,000 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”) and accompanying warrants to purchase an aggregate of 1,315,000 shares of Common Stock, and (ii) pre-funded warrants to purchase up to an aggregate of 5,851,505 shares of Common Stock (the “Pre-Funded Warrants”) and accompanying warrants to purchase an aggregate of 5,851,505 shares of Common Stock (collectively, the “Private Placement”). The accompanying warrants to purchase Common Stock are referred to herein collectively as the “Common Stock Warrants.” Under the Securities Purchase Agreement, each Share and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.535, and each Pre-Funded Warrant and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.5349, for gross proceeds of approximately $11,000 before deducting placement agent fees and offering expenses payable by the Company. Net proceeds to the Company were $10,160. The remaining exercise price for the Pre-Funded Warrant was $0.0001. Collectively, we refer to this transaction throughout this filing as the “Equity Financing”. The net proceeds from the Private Placement were used to fund, in part, payment of the closing cash consideration in the Merger. | |
CY2022Q1 | us-gaap |
Securities Purchased Under Agreements To Resell Credit Loss Expense Reversal
SecuritiesPurchasedUnderAgreementsToResellCreditLossExpenseReversal
|
2500000 | usd |
CY2022Q1 | crex |
Promissory Note Accrues Interest
PromissoryNoteAccruesInterest
|
0.0059 | pure |
CY2022Q1 | us-gaap |
Line Of Credit Facility Periodic Payment Principal
LineOfCreditFacilityPeriodicPaymentPrincipal
|
104000 | usd |
CY2022Q2 | us-gaap |
Net Investment Income
NetInvestmentIncome
|
1262000 | usd |
CY2021Q2 | us-gaap |
Net Investment Income
NetInvestmentIncome
|
1025000 | usd |
us-gaap |
Net Investment Income
NetInvestmentIncome
|
3764000 | usd | |
us-gaap |
Net Investment Income
NetInvestmentIncome
|
2297000 | usd | |
CY2022Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
2840000 | usd |
CY2022Q2 | us-gaap |
Dividend Payments Restrictions Schedule Statutory Capital And Surplus1
DividendPaymentsRestrictionsScheduleStatutoryCapitalAndSurplus1
|
649000 | usd |
CY2022Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
770000 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
502000 | usd |
CY2022Q2 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
2135000 | usd |
CY2021Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
1583000 | usd |
CY2022Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
503000 | usd |
CY2021Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
297000 | usd |
CY2022Q2 | us-gaap |
Other Inventory
OtherInventory
|
2638000 | usd |
CY2021Q4 | us-gaap |
Other Inventory
OtherInventory
|
1880000 | usd |
CY2022Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
22472886 | shares |
CY2021Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
6964517 | shares |
CY2021Q2 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
8333 | shares |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
8333 | shares | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>8. Use of Estimates</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with 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 periods. Our significant estimates include: warrant liability valuation, contingent purchase consideration valuation, the allowance for doubtful accounts, valuation allowances related to deferred taxes, the fair value of acquired assets and liabilities, the fair value of liabilities reliant upon the appraised fair value of the Company, valuation of stock-based compensation awards and other assumptions and estimates used to evaluate the recoverability of long-lived assets, goodwill and other intangible assets and the related amortization methods and periods. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> | ||
crex |
Schedule Of Revenue By Major Source
ScheduleOfRevenueByMajorSource
|
<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="font-weight: bold; font-style: italic; border-bottom: Black 1.5pt solid">(in thousands)</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">Three Months <br/> Ended <br/> June 30,<br/> 2022</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">Three Months <br/> Ended <br/> June 30,<br/> 2021</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">Six Months <br/> Ended <br/> June 30,<br/> 2022</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">Six Months <br/> Ended <br/> June 30,<br/> 2021</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="width: 52%">Hardware</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">5,667</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,296</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,126</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">4,112</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Services:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Installation Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">903</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,242</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,072</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Software Development Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">367</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Media Services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Managed Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">3,832</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,391</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,535</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">2,730</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Total Services</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,256</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,981</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">9,554</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,169</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Total Hardware and Services</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">10,923</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">3,277</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">21,680</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">8,281</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> | ||
CY2022Q2 | crex |
Revenue From Hardware
RevenueFromHardware
|
5667000 | usd |
CY2021Q2 | crex |
Revenue From Hardware
RevenueFromHardware
|
1296000 | usd |
crex |
Revenue From Hardware
RevenueFromHardware
|
12126000 | usd | |
crex |
Revenue From Hardware
RevenueFromHardware
|
4112000 | usd | |
CY2022Q2 | crex |
Services Cost
ServicesCost
|
5256000 | usd |
CY2021Q2 | crex |
Services Cost
ServicesCost
|
1981000 | usd |
crex |
Services Cost
ServicesCost
|
9554000 | usd | |
crex |
Services Cost
ServicesCost
|
4169000 | usd | |
CY2022Q2 | crex |
Hardware And Services Cost
HardwareAndServicesCost
|
10923000 | usd |
CY2021Q2 | crex |
Hardware And Services Cost
HardwareAndServicesCost
|
3277000 | usd |
crex |
Hardware And Services Cost
HardwareAndServicesCost
|
21680000 | usd | |
crex |
Hardware And Services Cost
HardwareAndServicesCost
|
8281000 | usd | |
crex |
Aggregate Amoun I
AggregateAmounI
|
0 | usd | |
crex |
Aggregate Amoun I
AggregateAmounI
|
0 | usd | |
us-gaap |
Broadcasters License Agreement Commitments Description
BroadcastersLicenseAgreementCommitmentsDescription
|
Subject to the terms and conditions of the Merger Agreement, upon the closing of the Merger, Reflect stockholders as of the effective time of the Merger collectively received from the Company, in the aggregate, the following Merger consideration: (i) $16,166 payable in cash, (ii) 2,333,334 shares of common stock of Creative Realities (valued based on an issuance price of $2 per share) (the “CREX Shares”), (iii) the Secured Promissory Note (as described below), and (iv) supplemental cash payments (the “Guaranteed Consideration”), if any, payable on or after the three-year anniversary of the effective time of the Merger (subject to the Extension Option described below, the “Guarantee Date”), in an amount by which the value of the CREX Shares on such anniversary is less than $6.40 per share, or if certain customers of Reflect collectively achieve over 85,000 billable devices online at any time on or before December 31, 2022, is less than $7.20 per share (such applicable amount, the “Guaranteed Price”), multiplied by the amount of CREX Shares held by the Reflect stockholders on the Guarantee Date (subject to the Extension Option described below), subject to the terms of the Merger Agreement. | ||
crex |
Extend The Guarantee Date Description
ExtendTheGuaranteeDateDescription
|
Creative Realities may exercise an extension option (the “Extension Option”) to extend the Guarantee Date from the three-year anniversary of the Closing Date to six (6) months thereafter if (i) the Extension Threshold Price is greater than or equal to 70% of the Guaranteed Price described above, and (ii) Creative Realities provides written notice of its election to exercise the Extension Option at least ten (10) days prior to the three-year anniversary of the Closing. The “Extension Threshold Price” means the average closing price per share of Creative Realities Shares as reported on the Nasdaq Capital Market (or NYSE) in the fifteen (15) consecutive trading day period ending fifteen (15) days prior to the three-year anniversary of the Closing Date. If the Extension Threshold Price is less than 80% of the Guaranteed Price, then the Guaranteed Price will be increased by $1.00 per share. | ||
CY2022Q1 | crex |
Retention Bonus Plan Description
RetentionBonusPlanDescription
|
the Company is required to pay to key members of Reflect’s management team an aggregate of $1,333 in cash, which was paid 50% at the closing of the Merger (the “Closing”), and subject to continuous employment with Reflect or Creative Realities, 25% on the one-year anniversary of Closing and 25% on the two-year anniversary of the Closing. The future cash payments due on the one-year and two-year anniversaries of the Closing have been deposited into an escrow agreement. The Retention Bonus Plan also requires the Company to issue Common Stock having an aggregate value of $667 to the plan participants as follows: 50% of the value of such shares were issued at the Closing, and subject to continuous employment with Reflect or Creative Realities, 25% of the value of such shares will be issued on the one-year anniversary of Closing and the remaining 25% of the value of such shares will be issued on the two-year anniversary of the Closing. The shares issued on the Closing were valued at $2.00 per share, and the shares to be issued after the Closing will be determined based on dividing the value of shares issuable on such date divided by the trailing 10-day volume weighted average price (VWAP) of the shares as of such date as reported on the Nasdaq Capital Market. | |
CY2022Q1 | us-gaap |
Securities Purchased Under Agreements To Resell Increase
SecuritiesPurchasedUnderAgreementsToResellIncrease
|
2500000 | usd |
us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
16664000 | usd | |
us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
1334000 | usd | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
4667000 | usd | |
us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
333000 | usd | |
CY2022Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
2500000 | usd |
CY2022Q2 | us-gaap |
Business Combination Contingent Consideration Asset
BusinessCombinationContingentConsiderationAsset
|
36360000 | usd |
CY2022Q2 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
|
34730000 | usd |
CY2022Q1 | us-gaap |
Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
|
0.0059 | pure |
CY2022Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
104000 | usd |
CY2022Q2 | us-gaap |
Demutualization By Insurance Entity Securities Issued Price Per Share Or Unit
DemutualizationByInsuranceEntitySecuritiesIssuedPricePerShareOrUnit
|
6.4 | |
us-gaap |
Deferred Compensation Arrangement With Individual Shares Issued
DeferredCompensationArrangementWithIndividualSharesIssued
|
85000 | shares | |
us-gaap |
Accelerated Share Repurchases Final Price Paid Per Share
AcceleratedShareRepurchasesFinalPricePaidPerShare
|
7.2 | ||
CY2022Q1 | us-gaap |
Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
|
5262000 | usd |
CY2022Q2 | us-gaap |
Escrow Deposit
EscrowDeposit
|
818 | usd |
CY2022Q2 | us-gaap |
Cost Direct Material
CostDirectMaterial
|
37000 | usd |
us-gaap |
Cost Direct Material
CostDirectMaterial
|
428000 | usd | |
CY2022Q2 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
1300000 | usd |
CY2022Q2 | us-gaap |
Inventory Gross
InventoryGross
|
196000 | usd |
CY2022Q2 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
666000 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
96000 | usd |
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
493000 | usd | |
CY2022Q2 | us-gaap |
Other Assets
OtherAssets
|
36000 | usd |
CY2022Q2 | us-gaap |
Indefinite Lived Trade Names
IndefiniteLivedTradeNames
|
960000 | usd |
CY2022Q2 | crex |
Definitelived Developed Technology
DefinitelivedDevelopedTechnology
|
5130000 | usd |
CY2022Q2 | crex |
Definitelived Customer Relationships
DefinitelivedCustomerRelationships
|
11040000 | usd |
CY2022Q2 | crex |
Definitelived Noncompete Agreements
DefinitelivedNoncompeteAgreements
|
30000 | usd |
CY2022Q2 | us-gaap |
Goodwill Gross
GoodwillGross
|
18569000 | usd |
CY2022Q2 | us-gaap |
Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
|
96000 | usd |
CY2022Q2 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
277000 | usd |
CY2022Q2 | crex |
Customer Deposits
CustomerDeposits
|
1661000 | usd |
CY2022Q2 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1259000 | usd |
CY2022Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
277000 | usd |
CY2022Q2 | us-gaap |
Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
|
216000 | usd |
us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
34730000 | usd | |
CY2022Q2 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
4340000 | usd |
CY2022Q2 | us-gaap |
Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
|
180000 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
17160000 | usd |
us-gaap |
Property Plant And Equipment Collections Not Capitalized Deaccessed Fair Value
PropertyPlantAndEquipmentCollectionsNotCapitalizedDeaccessedFairValue
|
96000 | usd | |
CY2021 | us-gaap |
Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
|
30680000 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
799000 | usd |
CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.06 | |
CY2021Q2 | us-gaap |
Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
|
6266000 | usd |
us-gaap |
Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
|
13707000 | usd | |
CY2021Q2 | us-gaap |
Profit Loss
ProfitLoss
|
1141000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
2175000 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
656000 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
44000 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
20000 | usd | |
crex |
Conversion Of Liability Warrants To Equity Warrants
ConversionOfLiabilityWarrantsToEquityWarrants
|
5709000 | usd | |
CY2022Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
33035000 | usd |
CY2022Q2 | crex |
Finite Lived Intangible Asset Gross
FiniteLivedIntangibleAssetGross
|
9808000 | usd |
CY2021Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
13547000 | usd |
CY2021Q4 | crex |
Finite Lived Intangible Asset Gross
FiniteLivedIntangibleAssetGross
|
8697000 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
9808000 | usd |
CY2021Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
8697000 | usd |
CY2022Q2 | us-gaap |
Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
|
23227000 | usd |
CY2021Q4 | us-gaap |
Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
|
4850000 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
680000 | usd |
CY2022Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
431000 | usd |
CY2021Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
139000 | usd |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1111000 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
279000 | usd | |
CY2022Q2 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
7000000 | shares |
crex |
Total Issuance Debt Gross
TotalIssuanceDebtGross
|
Total debt, gross | ||
CY2022Q2 | us-gaap |
Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
|
19274000 | usd |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
5194495 | shares | |
crex |
Issuance Debt Discount
IssuanceDebtDiscount
|
Debt discount | ||
CY2022Q2 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
3796000 | usd |
crex |
Total Issuance Debt Net
TotalIssuanceDebtNet
|
Total debt, net | ||
CY2022Q2 | us-gaap |
Loans Payable
LoansPayable
|
15478000 | usd |
crex |
Issuance Current Maturities
IssuanceCurrentMaturities
|
Less current maturities | ||
CY2022Q2 | crex |
Loans Payable Current Maturities
LoansPayableCurrentMaturities
|
-2089000 | usd |
crex |
Issuance Of Long Term Debt
IssuanceOfLongTermDebt
|
Long term debt | ||
CY2022Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
13389000 | usd |
CY2021 | crex |
Total Issuance Debt Gross
TotalIssuanceDebtGross
|
Total debt, gross | |
CY2021Q4 | us-gaap |
Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
|
7185000 | usd |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
|
588236 | shares |
CY2021 | crex |
Issuance Fair Value
IssuanceFairValue
|
Fair value (B) | |
CY2021Q4 | crex |
Long Term Debt Fair Values
LongTermDebtFairValues
|
166000 | usd |
CY2021 | crex |
Total Issuance Debt Gross
TotalIssuanceDebtGross
|
Total debt, gross | |
CY2021 | crex |
Convertible Note Payable Total Debt Gross
ConvertibleNotePayableTotalDebtGross
|
7019000 | usd |
CY2021 | crex |
Issuance Debt Discount
IssuanceDebtDiscount
|
Debt discount | |
CY2021Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
144000 | usd |
CY2021 | crex |
Total Issuance Debt Net
TotalIssuanceDebtNet
|
Total debt, net | |
CY2021Q4 | us-gaap |
Loans Payable
LoansPayable
|
6875000 | usd |
CY2021 | crex |
Issuance Current Maturities
IssuanceCurrentMaturities
|
Less current maturities | |
CY2021 | crex |
Issuance Of Long Term Debt
IssuanceOfLongTermDebt
|
Long term debt | |
CY2021Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
6875000 | usd |
crex |
Loans Payable Description
LoansPayableDescription
|
(1)8.0% cash interest per annum through maturity at February 15, 2025.(2)0.59% cash interest per annum (the applicable federal rate) through maturity at February 17, 2023.(3)10.0% cash interest per annum through maturity at February 15, 2025.(4)Interest was paid-in-kind (“PIK”) through October 2021, at which point interest became payable in cash at the stated interest rates through maturity. | ||
CY2020Q2 | crex |
Promissory Note Description
PromissoryNoteDescription
|
the Company entered into a Promissory Note with Old National Bank (the “Promissory Note”), which provided for an unsecured loan of $1,552 (the “PPP Loan”) pursuant to the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (the “CARES Act”). The Promissory Note had a term of two years with a 1% per annum interest rate. | |
CY2022Q1 | us-gaap |
Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
|
104000 | usd |
crex |
Credit Agreement Description
CreditAgreementDescription
|
The Credit Agreement also provides that the Company’s outstanding loans from Slipstream at December 31, 2021, consisting of its pre-existing $4,767 senior secured term loan and $2,418 secured convertible loan, with an aggregate of $7,185 in outstanding principal and accrued and unpaid interest under such loans, were consolidated into a term loan (the “Consolidation Term Loan”). The Consolidation Term Loan has an interest rate of 10.0%, with 75.0% warrant coverage (or 2,694,495 warrants). On the first day of each month, commencing March 1, 2022 through February 1, 2025, the Borrowers will make interest-only payments on the Consolidation Term Loan (estimated to be $60 per monthly payment). Commencing on September 1, 2023, and on the first day of each month thereafter until the Maturity Date, the Borrowers will make a payment on the Consolidation Term Loan, in an equal monthly installment of principal sufficient to fully amortize the Consolidation Term Loan in eighteen equal installments (estimated to be $399 per monthly installment). The Company assessed the combination of the pre-existing senior secured term loan and secured convertible loan in accordance with ASC 470 Debt and determined the transaction should be accounted for as an extinguishment, in part as the Consolidation Term Loan eliminated a substantive conversion feature. In aggregate the Company recorded a loss on extinguishment of $295, primarily associated with the write-off of pre-existing debt discounts. | ||
us-gaap |
Proceeds From Other Debt
ProceedsFromOtherDebt
|
10000000 | usd | |
crex |
Gross Proceeds
GrossProceeds
|
10000000 | usd | |
us-gaap |
Proceeds From Issuance Of Long Term Debt And Capital Securities Net
ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet
|
9950000 | usd | |
CY2022Q2 | us-gaap |
Long Term Debt Maturity Date
LongTermDebtMaturityDate
|
2025-02-17 | |
CY2022Q2 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.08 | pure |
crex |
Warrant Coverage Percentage
WarrantCoveragePercentage
|
0.50 | pure | |
CY2022Q2 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
2500000 | shares |
us-gaap |
Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
|
On the first day of each month, commencing March 1, 2022 through February 1, 2025, the Borrowers will make interest-only payments on the Acquisition Loan (estimated to be $67 per monthly payment). No principal payments on the Acquisition Loan are payable until the Maturity Date. | ||
us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
5194495 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2 | ||
CY2022Q2 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
0.8129 | |
CY2022Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
166000 | usd |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
525000 | usd | |
us-gaap |
Long Term Debt Description
LongTermDebtDescription
|
The Company paid no fees in exchange for these extensions, with the exception of the March 7, 2021 extension which resulted in the Company recording of $133 of incremental debt discount, a net gain of $26 via the extinguishment of the Special Loan, and expense of $69 of costs incurred with third parties as a result of extinguishment of the Special Loan, modification of the New Term Loan, and extinguishment of the Disbursed Escrow Loan. | ||
CY2018Q2 | crex |
Vesting Of Performance Shares Previously Granted To Ceo
VestingOfPerformanceSharesPreviouslyGrantedToCeo
|
264000 | usd |
crex |
Debt Settlement
DebtSettlement
|
1624000 | usd | |
CY2021Q2 | us-gaap |
Deposit Liabilities Accrued Interest
DepositLiabilitiesAccruedInterest
|
86000 | usd |
CY2022Q2 | us-gaap |
Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Bad Debt Reserve For Tax Purposes Of Qualified Lender
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityBadDebtReserveForTaxPurposesOfQualifiedLender
|
0 | usd |
CY2022Q2 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2022Q1 | crex |
Securities Purchase Agreement
SecuritiesPurchaseAgreement
|
the Company entered into a Securities Purchase Agreement with a purchaser (the “Purchaser”), pursuant to which the Company agreed to issue and sell to the Purchaser, in a private placement priced at-the-market under Nasdaq rules, (i) 1,315,000 shares (the “Shares”) of the Company’s common stock, par value $0.01 per share (the “Common Stock”) and accompanying warrants to purchase an aggregate of 1,315,000 shares of Common Stock, and (ii) pre-funded warrants to purchase up to an aggregate of 5,851,505 shares of Common Stock (the “Pre-Funded Warrants”) and accompanying warrants to purchase an aggregate of 5,851,505 shares of Common Stock (collectively, the “Private Placement”). The accompanying warrants to purchase Common Stock are referred to herein collectively as the “Common Stock Warrants.” Under the Securities Purchase Agreement, each Share and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.535, and each Pre-Funded Warrant and accompanying warrants to purchase Common Stock were sold together at a combined price of $1.5349, for gross proceeds of approximately $11,000, before deducting placement agent fees and estimated offering expenses payable by the Company. | |
CY2022Q1 | crex |
Warrants Issued
WarrantsIssued
|
5194495 | shares |
CY2022Q1 | crex |
Exercise Price
ExercisePrice
|
2 | |
CY2022Q1 | crex |
Date Of Issuance
DateOfIssuance
|
P5Y | |
CY2022Q1 | crex |
Purchase Common Stock
PurchaseCommonStock
|
1400000 | shares |
us-gaap |
Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
|
175000 | shares | |
CY2022Q2 | us-gaap |
Forward Contract Indexed To Equity Settlement Share Fair Value Per Share
ForwardContractIndexedToEquitySettlementShareFairValuePerShare
|
0.8656 | |
us-gaap |
Distributed Earnings
DistributedEarnings
|
1211000 | usd | |
crex |
Purchaser Warrant Perce Per Share
PurchaserWarrantPercePerShare
|
0.4017 | ||
CY2022Q2 | crex |
Purchaser Warrant
PurchaserWarrant
|
252000 | usd |
crex |
Purchaser Warrant
PurchaserWarrant
|
650000 | usd | |
crex |
Warrants Issued
WarrantsIssued
|
7166505 | shares | |
crex |
Terms Of Warrants
TermsOfWarrants
|
5194495 | usd | |
crex |
Warrant Term
WarrantTerm
|
P1Y | ||
crex |
Fair Value Of Warrants
FairValueOfWarrants
|
345000 | usd | |
crex |
Warrant Liability
WarrantLiability
|
5709000 | usd | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y3M | ||
CY2022Q2 | us-gaap |
Revenue From Related Parties
RevenueFromRelatedParties
|
-38000000 | usd |
CY2022Q2 | us-gaap |
Other Interest Earning Assets
OtherInterestEarningAssets
|
3600000 | usd |
us-gaap |
Stock Option Exercise Price Increase
StockOptionExercisePriceIncrease
|
2.53 | ||
crex |
Fair Value Of Options On Grant Date
FairValueOfOptionsOnGrantDate
|
1.87 | ||
CY2022Q2 | us-gaap |
Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
|
175000 | usd |
us-gaap |
Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
|
400000 | usd | |
crex |
Net Of A Benefit
NetOfABenefit
|
50000 | usd | |
CY2022Q2 | crex |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights
|
1 | |
CY2022Q2 | crex |
Additional Options
AdditionalOptions
|
300000 | shares |
CY2022Q2 | crex |
Riskfree Interest Rate
RiskfreeInterestRate
|
0.033 | pure |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P2Y8M4D | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.2353 | pure | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure | |
CY2018Q3 | crex |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plan
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlan
|
600000 | shares |
CY2022Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
398000 | usd |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
948000 | usd | |
CY2021Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
356000 | usd |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
895000 | usd | |
CY2021Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1157000 | usd |
CY2022Q2 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
45000 | usd |
us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
70000 | usd | |
CY2021Q2 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
40000 | usd |
us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
40000 | usd | |
crex |
Number Of Customers
NumberOfCustomers
|
-2 | pure | |
crex |
Lease Expiration Period Description
LeaseExpirationPeriodDescription
|
Our leases have original lease periods expiring between 2021 and 2027. | ||
crex |
Components Of Lease Costs Lease Term And Discount Rate
ComponentsOfLeaseCostsLeaseTermAndDiscountRate
|
<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="border-bottom: Black 1.5pt solid; font-weight: bold; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months Ended<br/> June 30,<br/> 2022</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="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Six Months Ended<br/> June 30,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td>Finance lease cost</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; width: 76%; text-align: left">Amortization of right-of-use assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-134">-</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">4</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in">Interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-135">-</div></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-136">-</div></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt">Operating lease cost</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">256</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">179</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.25in; text-align: left; padding-bottom: 4pt">Total lease cost</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">256</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">183</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td>Weighted Average Remaining Lease Term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="white-space: nowrap; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.45 years</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3 years</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.25in; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10.0</td><td style="text-align: left">%</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> | ||
us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
4000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
256000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
179000 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
256000 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
183000 | usd | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y5M12D | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y3M18D | |
CY2022Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | pure |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | pure |
crex |
Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
|
256000 | usd | |
crex |
Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
|
176000 | usd | |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
4000 | usd | |
crex |
Financing Cash Flow From Finance Leases
FinancingCashFlowFromFinanceLeases
|
-4000 | usd | |
CY2022Q2 | crex |
Bad Debtrecoveryexpense
BadDebtrecoveryexpense
|
usd | |
crex |
Deal And Transaction Costs
DealAndTransactionCosts
|
usd | ||
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
usd | ||
crex |
Change In Fair Value Of Equity Guarantee
ChangeInFairValueOfEquityGuarantee
|
usd | ||
us-gaap |
Gains Losses On Restructuring Of Debt
GainsLossesOnRestructuringOfDebt
|
usd | ||
CY2022Q2 | crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
usd | |
CY2021Q2 | crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
usd | |
crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
usd | ||
CY2021Q2 | crex |
Loss On Warrant Amendment
LossOnWarrantAmendment
|
usd | |
crex |
Loss On Warrant Amendment
LossOnWarrantAmendment
|
usd | ||
CY2022Q2 | crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
usd | |
CY2021Q2 | crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
usd | |
crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
usd | ||
crex |
Gain On Settlement Of Seller Note
GainOnSettlementOfSellerNote
|
usd | ||
crex |
Change In Fair Value Of Convertible Loan
ChangeInFairValueOfConvertibleLoan
|
usd | ||
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
usd | ||
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
usd | ||
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
usd | ||
crex |
Loss On Debt Waiver Consent
LossOnDebtWaiverConsent
|
usd | ||
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
usd | ||
us-gaap |
Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
|
usd | ||
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
usd | ||
crex |
Principal Payments On Finance Leases
PrincipalPaymentsOnFinanceLeases
|
usd | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | ||
crex |
Proceeds From Sale Of Prefunded Warrants In Pipe Net Of Offering Expenses
ProceedsFromSaleOfPrefundedWarrantsInPIPENetOfOfferingExpenses
|
usd | ||
crex |
Proceeds From Acquisition Loan
ProceedsFromAcquisitionLoan
|
usd | ||
us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
usd | ||
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
usd | ||
CY2022Q2 | us-gaap |
Deposit Assets
DepositAssets
|
818000 | usd |
us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
812000 | usd | |
CY2022Q2 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | ||
CY2021Q4 | crex |
Loans Payable Current Maturities
LoansPayableCurrentMaturities
|
usd | |
us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
usd | ||
us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
usd | ||
us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
usd | ||
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
usd | ||
crex |
Financing Cash Flow From Finance Leases
FinancingCashFlowFromFinanceLeases
|
usd | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001356093 |