2022 Q4 Form 10-Q Financial Statement

#000121390022071271 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.367M $2.160M $4.865M
YoY Change -47.86% -55.6% 193.07%
% of Gross Profit
Research & Development $584.0K $955.0K $787.0K
YoY Change -54.2% 21.35% 87.38%
% of Gross Profit
Depreciation & Amortization $143.0K $69.00K $72.00K
YoY Change 64.37% -4.17% 140.0%
% of Gross Profit
Operating Expenses $2.951M $3.115M $5.652M
YoY Change -49.25% -44.89% 171.73%
Operating Profit -$3.115M -$5.652M
YoY Change -44.89% 171.73%
Interest Expense -$150.0K $1.000K -$2.000K
YoY Change 4900.0% -150.0% -99.82%
% of Operating Profit
Other Income/Expense, Net $949.0K -$1.000K -$49.00K
YoY Change -15916.67% -97.96% -94.67%
Pretax Income -$2.152M -$3.116M -$5.703M
YoY Change -60.04% -45.36% -1.16%
Income Tax
% Of Pretax Income
Net Earnings -$2.184M -$3.116M -$5.703M
YoY Change -59.45% -45.36% -1.16%
Net Earnings / Revenue
Basic Earnings Per Share -$0.18 -$0.39
Diluted Earnings Per Share -$0.11 -$0.18 -$393.0K
COMMON SHARES
Basic Shares Outstanding 20.24M shares 15.87M shares 14.51M shares
Diluted Shares Outstanding 17.64M shares 14.51M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $821.0K $342.0K $9.701M
YoY Change -86.61% -96.47% 1516.83%
Cash & Equivalents $821.0K $342.0K $9.701M
Short-Term Investments
Other Short-Term Assets $63.00K $380.0K $705.0K
YoY Change -90.83% -46.1% 683.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.411M $722.0K $10.41M
YoY Change -79.3% -93.06% 1408.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.409M $1.416M $484.0K
YoY Change 57.43% 192.56% 340.0%
Goodwill
YoY Change
Intangibles $1.598M
YoY Change -9.26%
Long-Term Investments
YoY Change
Other Assets $180.0K $403.0K $28.00K
YoY Change 0.56% 1339.29%
Total Long-Term Assets $5.179M $5.444M $2.295M
YoY Change 82.68% 137.21% 617.19%
TOTAL ASSETS
Total Short-Term Assets $1.411M $722.0K $10.41M
Total Long-Term Assets $5.179M $5.444M $2.295M
Total Assets $6.590M $6.166M $12.70M
YoY Change -31.72% -51.45% 1157.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $865.0K $1.211M $426.0K
YoY Change 141.62% 184.27% -56.53%
Accrued Expenses $621.0K $133.0K $480.0K
YoY Change 108.39% -72.29% -25.0%
Deferred Revenue
YoY Change
Short-Term Debt $1.662M $8.000K $439.0K
YoY Change 20675.0% -98.18% -79.86%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.694M $1.605M $1.345M
YoY Change 606.93% 19.33% -82.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.366M $1.815M
YoY Change
Total Long-Term Liabilities $1.366M $1.815M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.694M $1.605M $1.345M
Total Long-Term Liabilities $1.366M $1.815M $0.00
Total Liabilities $6.060M $3.420M $1.345M
YoY Change 812.65% 154.28% -82.33%
SHAREHOLDERS EQUITY
Retained Earnings -$88.01M -$85.85M
YoY Change 19.43%
Common Stock $2.000K $2.000K
YoY Change 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $530.0K $2.746M $11.36M
YoY Change
Total Liabilities & Shareholders Equity $6.590M $6.166M $12.70M
YoY Change -31.72% -51.45% 1157.52%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$2.184M -$3.116M -$5.703M
YoY Change -59.45% -45.36% -1.16%
Depreciation, Depletion And Amortization $143.0K $69.00K $72.00K
YoY Change 64.37% -4.17% 140.0%
Cash From Operating Activities -$3.091M -$2.106M -$2.498M
YoY Change -6.36% -15.69% 66.53%
INVESTING ACTIVITIES
Capital Expenditures $473.0K -$20.00K -$461.0K
YoY Change -275.19% -95.66% 1436.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$473.0K -$20.00K -$461.0K
YoY Change 75.19% -95.66% 1436.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $182.0K
YoY Change -88.63%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.043M 1.484M 182.0K
YoY Change 715.38% -88.26%
NET CHANGE
Cash From Operating Activities -3.091M -2.106M -2.498M
Cash From Investing Activities -473.0K -20.00K -461.0K
Cash From Financing Activities 4.043M 1.484M 182.0K
Net Change In Cash 479.0K -642.0K -2.777M
YoY Change -113.41% -76.88% -13985.0%
FREE CASH FLOW
Cash From Operating Activities -$3.091M -$2.106M -$2.498M
Capital Expenditures $473.0K -$20.00K -$461.0K
Free Cash Flow -$3.564M -$2.086M -$2.037M
YoY Change 17.58% 2.41% 38.57%

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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-165000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
123000 usd
crkn Increase Decrease In Accrued Interest
IncreaseDecreaseInAccruedInterest
72000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-268000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8049000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8137000 usd
us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
278000 usd
us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
392000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
61000 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1706000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-339000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2098000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
855000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19326000 usd
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
732000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
26000 usd
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
1039000 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
180000 usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
233000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
186000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
25000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2600000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19900000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5788000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
9665000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6130000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
342000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9701000 usd
crkn Issuance Of Common Stock Warrants In Connection With Sloc
IssuanceOfCommonStockWarrantsInConnectionWithSLOC
223000 usd
crkn Issuance Of Common Stock And Preferred Stock In Connection With Conversion Of Note
IssuanceOfCommonStockAndPreferredStockInConnectionWithConversionOfNote
19222000 usd
crkn Repurchase Beneficial Conversion Feature In Connection With Conversion Of Notes Payable
RepurchaseBeneficialConversionFeatureInConnectionWithConversionOfNotesPayable
6647000 usd
crkn Reclassifications Of Warrant Liabilities
ReclassificationsOfWarrantLiabilities
3566000 usd
crkn Issuance Of Common Stock Warrants In Connection With Note Exchange Agreement
IssuanceOfCommonStockWarrantsInConnectionWithNoteExchangeAgreement
4918000 usd
crkn Issuance Of Common Stock Warrants In Connection With Consideration Payable
IssuanceOfCommonStockWarrantsInConnectionWithConsiderationPayable
86000 usd
crkn Unpaid Equipment Included In Accounts Payable
UnpaidEquipmentIncludedInAccountsPayable
486000 usd
us-gaap Interest Paid Net
InterestPaidNet
3000 usd
us-gaap Interest Paid Net
InterestPaidNet
5000 usd
CY2022Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
CY2022Q3 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
1250000 shares
CY2022Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.744
CY2022Q3 crkn Offering Price Per Share
OfferingPricePerShare
0.8
CY2022Q3 us-gaap Repayments Of Debt
RepaymentsOfDebt
855000 usd
CY2022Q3 us-gaap Payments For Underwriting Expense
PaymentsForUnderwritingExpense
70000 usd
CY2022Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
75000 usd
us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
62500 shares
us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.8
crkn Accumulated Deficit
AccumulatedDeficit
85900000 usd
CY2022Q3 crkn Working Capital
WorkingCapital
900000 usd
crkn Net Loss
NetLoss
12200000 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
8000000 usd
CY2022Q1 crkn Irrevocable Standby Letter Of Credit
IrrevocableStandbyLetterOfCredit
10000000 usd
CY2022Q1 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.12 pure
CY2022Q1 us-gaap Debt Instrument Term
DebtInstrumentTerm
P2Y
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
50000 shares
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
1000000 usd
CY2022Q1 us-gaap Restricted Stock Expense
RestrictedStockExpense
5000000 usd
CY2022Q1 crkn Aggregate Gross Proceed Percentage
AggregateGrossProceedPercentage
0.03 pure
CY2022Q3 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
1647709 shares
crkn Agreement Of Sales
AgreementOfSales
706000 usd
us-gaap Payments For Commissions
PaymentsForCommissions
26000 usd
crkn Share Based Compensation Arrangement By Share Share Based Compensation Arrangement By Share Based Payment Award Option Outstanding Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareShareBasedCompensationArrangementByShareBasedPaymentAwardOptionOutstandingBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
0.44
us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
500000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1720437 shares
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></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">The preparation of condensed 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 condensed financial statements and the reported amounts of expenses during the reporting period. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i> </i></b></p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20209935 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20028398 shares
CY2022Q3 us-gaap Depreciation
Depreciation
69000 usd
CY2021Q3 us-gaap Depreciation
Depreciation
21000 usd
us-gaap Depreciation
Depreciation
191000 usd
us-gaap Depreciation
Depreciation
56000 usd
crkn Consideration Paid Amount
ConsiderationPaidAmount
264000 usd
us-gaap Legal Fees
LegalFees
38000 usd
CY2016Q1 crkn Intellectual Property Description
IntellectualPropertyDescription
On January 31, 2016, the Company, entered into an IP agreement with HP to acquire a research license to determine the feasibility of incorporating HP’s electro-kinetic display technology in the Company’s products. Under the terms of the agreement, the license is to be used for research purposes only, has a purchase price of $200,000 for the technology and a two-year closing date. On April 12, 2016 the Company and HP entered into the first amendment to the agreement, which reduced the purchase price of the technology to $175,000. The sales agreement entered into with HP concurrently with the first amendment to the agreement allocated $25,000 of the $200,000 purchase price to acquire equipment to be used in the research. On May 1, 2017, the Company and HP entered into the second amendment to the agreement which increased the purchase price for the technology to $375,000 and extended the closing date to January 31, 2020. On March 10, 2019, the Company and HP entered into the third amendment to the agreement, which extended the closing date to January 31, 2021, enumerated certain intellectual property owned by HP that is not subject to the exclusive license granted to the Company and revised the schedule of fees payable by the Company to HP. Under the terms of the fourth amendment with HP (see details below), $75,000 will be included in the purchase price for the option to purchase assignable patents, which was paid on February 9, 2021. 
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
375000 usd
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P10Y
CY2021Q1 crkn Intellectual Property Agreement Description
IntellectualPropertyAgreementDescription
On February 4, 2021, the Company entered into the fourth amendment to the IP agreement with HP. Under the terms of the amendment, the parties agreed to amend the list of patent and patent applications, which includes two additional patents that are assignable to the Company by HP. The Company exercised the option to purchase the assignable patents and paid HP $1.55 million dollars on February 9, 2021. Upon assignment of the patents, the Company will pay HP a royalty fee based on the cumulative gross revenue received by the Company from the patents as follows:  1. Prior to December 31, 2029:   ●Less than $70,000,000, royalty rate of 0.00%   ●$70,000,000 - $500,000,000, royalty rate of 1.25%   ●$500,000,000 and beyond, royalty rate of 1.00%   2. After January 1, 2030 and onward, royalty rate of 0.00%  Under the terms of the amendment, HP waived any interest that would have been accrued on the open payable of $75,000 which was due from the Company related to the license agreement dated January 31, 2016. 
CY2022Q3 crkn Finite Lived Intangible Assets Patents Gross
FiniteLivedIntangibleAssetsPatentsGross
1801000 usd
CY2021Q4 crkn Finite Lived Intangible Assets Patents Gross
FiniteLivedIntangibleAssetsPatentsGross
1739000 usd
CY2022Q3 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2021Q4 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2176000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2114000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
522000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
353000 usd
CY2022Q3 crkn Finite Lived Intangible Assets Accumulated Research License Net
FiniteLivedIntangibleAssetsAccumulatedResearchLicenseNet
1654000 usd
CY2021Q4 crkn Finite Lived Intangible Assets Accumulated Research License Net
FiniteLivedIntangibleAssetsAccumulatedResearchLicenseNet
1761000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
55000 usd
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
168000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
128000 usd
CY2022Q3 crkn General Liability Insurance
GeneralLiabilityInsurance
7000 usd
CY2021Q4 crkn General Liability Insurance
GeneralLiabilityInsurance
234000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
7000 usd
CY2021Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
57000 usd
CY2022Q3 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
125000 usd
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1000 usd
CY2022Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
133000 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
298000 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
crkn Underwriters Purchase
UnderwritersPurchase
62500 usd
us-gaap Warrant Exercise Price Increase
WarrantExercisePriceIncrease
0.8
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.888 pure
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.50 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.50 pure
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0396 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
652776 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
3.5
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
33332 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
619444 shares
us-gaap Share Based Compensation
ShareBasedCompensation
600000 usd
crkn Restricted Stock Award Forfeituress
RestrictedStockAwardForfeituress
33332 shares
CY2022Q3 us-gaap Retail Land Sales Installment Method Sales Value
RetailLandSalesInstallmentMethodSalesValue
85450 usd
CY2022Q3 us-gaap Class Of Warrant Or Right Reason For Issuing To Nonemployees
ClassOfWarrantOrRightReasonForIssuingToNonemployees
On August 12, 2022, as additional consideration for the PO’s, the Company issued a warrant to Hudson to purchase 300,000 shares of the Company’s common stock at $0.75 per share. The warrant has a five-year life and expires on August 12, 2027. 
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
161700 usd
CY2022Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
85450 usd
us-gaap Equity Fair Value Adjustment
EquityFairValueAdjustment
200000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4525177 shares
CY2021Q4 crkn Weighted Average Exercise Price Beginning Outstanding
WeightedAverageExercisePriceBeginningOutstanding
2.65
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7088000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1376602 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.26
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5901779 shares
crkn Weighted Average Exercise Price Exercisable
WeightedAverageExercisePriceExercisable
2.32
crkn Weighted Average Remaining Contractual Tenn Years Exercisable
WeightedAverageRemainingContractualTennYearsExercisable
P3Y7M6D
CY2016Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400 usd
CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1200 usd
CY2017Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1800 usd
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4500 usd
CY2018Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7550 usd
CY2020Q3 us-gaap Other Operating Income
OtherOperatingIncome
23097 usd
CY2020Q3 us-gaap Investment Company Shareholder Service Fee Expense
InvestmentCompanyShareholderServiceFeeExpense
11979 usd
CY2020Q3 us-gaap Payments For Fees
PaymentsForFees
11118 usd
CY2021Q3 us-gaap Other Operating Income
OtherOperatingIncome
23805 usd
CY2021Q3 us-gaap Investment Company Shareholder Service Fee Expense
InvestmentCompanyShareholderServiceFeeExpense
12337 usd
CY2021Q3 us-gaap Payments For Fees
PaymentsForFees
11468 usd
CY2021Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
31647 usd
CY2022Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
44252 usd
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q2 us-gaap Other Expenses
OtherExpenses
7388 usd
CY2021Q2 us-gaap Operating Leases Of Lessor Contingent Rentals Basis Spread On Variable Rate
OperatingLeasesOfLessorContingentRentalsBasisSpreadOnVariableRate
0.03 pure
CY2021Q2 us-gaap Deposit Assets
DepositAssets
8315 usd
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
2100000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2000000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
190000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
570000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
17000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
33000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
207000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
603000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
190000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
570000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2336000 usd
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y6M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12 pure
CY2022Q3 crkn Operating Leases Future Minimum Payments Nine Months
OperatingLeasesFutureMinimumPaymentsNineMonths
190000 usd
CY2022Q3 crkn Operating Leases Future Minimum Payment Due Current
OperatingLeasesFutureMinimumPaymentDueCurrent
776000 usd
CY2022Q3 crkn Operating Leases Future Minimum Payment Due In Four Years
OperatingLeasesFutureMinimumPaymentDueInFourYears
678000 usd
CY2022Q3 crkn Operating Leases Future Minimum Payment Due In Five Years
OperatingLeasesFutureMinimumPaymentDueInFiveYears
475000 usd
CY2022Q3 crkn Operating Leases Future Minimum Payment Due In Six Years
OperatingLeasesFutureMinimumPaymentDueInSixYears
390000 usd
CY2022Q3 crkn Operating Leases Future Minimum Payments Due Six Months Thereafter
OperatingLeasesFutureMinimumPaymentsDueSixMonthsThereafter
57000 usd
CY2022Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2566000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
498000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2068000 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
200000 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
100000 usd
us-gaap Payments For Rent
PaymentsForRent
600000 usd
us-gaap Payments For Rent
PaymentsForRent
200000 usd
CY2022Q3 crkn Shares Liability
SharesLiability
500000 usd
CY2022Q3 us-gaap Shares Issued
SharesIssued
1720437 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Per Share Weighted Average Price Of Shares Purchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased
0.32
us-gaap Debt Conversion Converted Instrument Rate
DebtConversionConvertedInstrumentRate
0.54 pure
CY2022Q3 us-gaap Long Duration Contracts Assumptions By Product And Guarantee Discount Rate
LongDurationContractsAssumptionsByProductAndGuaranteeDiscountRate
0.35 pure
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
21759403 shares
us-gaap Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
0.32
crkn Net Proceeds
NetProceeds
3200000 usd
us-gaap Payments For Fees
PaymentsForFees
300000 usd
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
usd
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q3 crkn Series B Preferred Stock Value
SeriesBPreferredStockValue
usd
CY2022Q3 crkn Series D Preferred Stock
SeriesDPreferredStock
usd
CY2022Q3 crkn Loss On Exchange Of Notes Payable For Common Stock And Warrants
LossOnExchangeOfNotesPayableForCommonStockAndWarrants
usd
CY2022Q3 crkn Gain On Forgiveness Of Ppp Loans
GainOnForgivenessOfPPPLoans
usd
CY2022Q3 crkn Change In Fair Value Of Warrants Liability
ChangeInFairValueOfWarrantsLiability
usd
CY2022Q3 crkn Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
usd
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.39
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13669445 shares
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
crkn Loss On Exchange Of Notes Payables For Common Stock And Warrants
LossOnExchangeOfNotesPayablesForCommonStockAndWarrants
usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
usd
crkn Change In Fair Value Of Warrant Liability
ChangeInFairValueOfWarrantLiability
usd
crkn Chang In Fair Value Of Derivative Liability
ChangInFairValueOfDerivativeLiability
usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
usd
crkn Increase Decrease In Accrued Interest
IncreaseDecreaseInAccruedInterest
usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
usd
us-gaap Proceeds From Other Equity
ProceedsFromOtherEquity
usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
usd
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
usd
crkn Reclassifications Of Warrant Liabilities
ReclassificationsOfWarrantLiabilities
usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
usd
crkn Issuance Of Common Stock And Preferred Stock In Connection With Conversion Of Note
IssuanceOfCommonStockAndPreferredStockInConnectionWithConversionOfNote
usd
crkn Repurchase Beneficial Conversion Feature In Connection With Conversion Of Notes Payable
RepurchaseBeneficialConversionFeatureInConnectionWithConversionOfNotesPayable
usd
crkn Issuance Of Common Stock Warrants In Connection With Note Exchange Agreement
IssuanceOfCommonStockWarrantsInConnectionWithNoteExchangeAgreement
usd
crkn Unpaid Equipment Included In Accounts Payable
UnpaidEquipmentIncludedInAccountsPayable
usd
CY2022Q3 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
usd
CY2022Q3 us-gaap Accrued Rent Current
AccruedRentCurrent
usd
CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
usd
CY2022Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001761696

Files In Submission

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0001213900-22-071271-index-headers.html Edgar Link pending
0001213900-22-071271-index.html Edgar Link pending
0001213900-22-071271.txt Edgar Link pending
0001213900-22-071271-xbrl.zip Edgar Link pending
crkn-20220930.xsd Edgar Link pending
f10q0922ex31-1_crownelectro.htm Edgar Link pending
f10q0922ex31-2_crownelectro.htm Edgar Link pending
f10q0922ex32-1_crownelectro.htm Edgar Link pending
f10q0922ex32-2_crownelectro.htm Edgar Link pending
f10q0922_crownelectro.htm Edgar Link pending
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f10q0922_crownelectro_htm.xml Edgar Link completed
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crkn-20220930_cal.xml Edgar Link unprocessable
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crkn-20220930_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable