2024 Q2 Form 10-Q Financial Statement

#000176169624000018 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $4.648M $682.0K $22.00K
YoY Change 12462.16% 3000.0%
Cost Of Revenue $4.039M $1.636M $31.00K
YoY Change 17460.87% 5177.42%
Gross Profit $609.0K -$954.0K -$9.000K
YoY Change 4250.0% 10500.0%
Gross Profit Margin 13.1% -139.88% -40.91%
Selling, General & Admin $4.187M $1.783M $3.576M
YoY Change -5.04% -50.14% 3.03%
% of Gross Profit 687.52%
Research & Development $1.111M $756.0K $541.0K
YoY Change 126.73% 39.74% -50.64%
% of Gross Profit 182.43%
Depreciation & Amortization $100.0K $212.0K $128.0M
YoY Change -47.92% -99.83% 119526.17%
% of Gross Profit 16.42%
Operating Expenses $5.298M $2.539M $4.117M
YoY Change 8.14% -38.33% -9.85%
Operating Profit -$4.908M -$3.705M -$4.126M
YoY Change 0.47% -10.2% -9.66%
Interest Expense -$145.0K $860.0K $2.017M
YoY Change -105.78% -57.36% -67333.33%
% of Operating Profit
Other Income/Expense, Net -$121.0K -$907.0K $1.826M
YoY Change -98.74% -149.67% -60966.67%
Pretax Income -$5.029M -$4.612M -$2.300M
YoY Change -65.36% 100.52% -49.67%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.029M -$4.612M -$2.300M
YoY Change -65.36% 100.52% -49.67%
Net Earnings / Revenue -108.2% -676.25% -10454.55%
Basic Earnings Per Share -$5.89 -$0.13 -$4.88
Diluted Earnings Per Share -$5.89 -$0.13 -$0.08
COMMON SHARES
Basic Shares Outstanding 281.9M shares 51.70M shares 43.69M shares
Diluted Shares Outstanding 1.740M shares 36.68M shares 29.70M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.990M $290.0K $2.138M
YoY Change 10983.33% -86.44% -14.92%
Cash & Equivalents $4.000M $300.0K $2.138M
Short-Term Investments
Other Short-Term Assets $30.00K $351.0K $97.00K
YoY Change -16.67% 261.86% -87.47%
Inventory
Prepaid Expenses
Receivables $3.400M $776.0K
Other Receivables $211.0K $576.0K
Total Short-Term Assets $9.174M $2.455M $2.861M
YoY Change 1058.33% -14.19% -12.96%
LONG-TERM ASSETS
Property, Plant & Equipment $3.012M $3.036M $2.528M
YoY Change 27.3% 20.09% -17.63%
Goodwill $652.0K
YoY Change
Intangibles $1.744M
YoY Change
Long-Term Investments
YoY Change
Other Assets $160.0K $165.0K $213.0K
YoY Change 384.85% -22.54% -47.01%
Total Long-Term Assets $6.826M $6.422M $15.11M
YoY Change -39.89% -57.49% 191.3%
TOTAL ASSETS
Total Short-Term Assets $9.174M $2.455M $2.861M
Total Long-Term Assets $6.826M $6.422M $15.11M
Total Assets $16.00M $8.877M $17.97M
YoY Change 31.72% -50.6% 112.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.215M $2.297M $1.146M
YoY Change 21.57% 100.44% 247.27%
Accrued Expenses $898.0K $962.0K $230.0K
YoY Change 120.1% 318.26% -61.47%
Deferred Revenue $1.300M $1.260M
YoY Change
Short-Term Debt $0.00 $93.00K $4.710M
YoY Change -100.0% -98.03% 58775.0%
Long-Term Debt Due $636.0K
YoY Change
Total Short-Term Liabilities $5.744M $5.261M $9.016M
YoY Change -20.61% -41.65% 864.28%
LONG-TERM LIABILITIES
Long-Term Debt $296.0K $328.0K $0.00
YoY Change
Other Long-Term Liabilities $1.178M $970.0K $1.208M
YoY Change 231.83% -19.7% -33.41%
Total Long-Term Liabilities $1.474M $1.298M $1.208M
YoY Change 315.21% 7.45% -33.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.744M $5.261M $9.016M
Total Long-Term Liabilities $1.474M $1.298M $1.208M
Total Liabilities $7.218M $6.559M $10.22M
YoY Change -4.9% -35.85% 271.92%
SHAREHOLDERS EQUITY
Retained Earnings -$126.6M -$121.6M -$90.31M
YoY Change 20.77% 34.65%
Common Stock $0.00 $10.00K $4.000K
YoY Change -100.0% 150.0%
Preferred Stock $4.350M
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.782M $2.318M $7.744M
YoY Change
Total Liabilities & Shareholders Equity $16.00M $8.877M $17.97M
YoY Change 31.72% -50.6% 112.06%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$5.029M -$4.612M -$2.300M
YoY Change -65.36% 100.52% -49.67%
Depreciation, Depletion And Amortization $100.0K $212.0K $128.0M
YoY Change -47.92% -99.83% 119526.17%
Cash From Operating Activities -$6.176M -$2.700M -$4.728M
YoY Change 68.84% -42.89% 33.11%
INVESTING ACTIVITIES
Capital Expenditures -$7.000K $63.00K $435.0K
YoY Change -102.62% -85.52% -769.23%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$645.0K
YoY Change -100.0% -100.0%
Cash From Investing Activities $7.000K -$63.00K -$1.080M
YoY Change -102.58% -94.17% 1561.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.869M $1.971M $7.125M
YoY Change 441.06% -72.34%
NET CHANGE
Cash From Operating Activities -6.176M -$2.700M -$4.728M
Cash From Investing Activities 7.000K -$63.00K -$1.080M
Cash From Financing Activities 9.869M $1.971M $7.125M
Net Change In Cash 3.700M -$769.0K $1.317M
YoY Change -275.77% -158.39%
FREE CASH FLOW
Cash From Operating Activities -$6.176M -$2.700M -$4.728M
Capital Expenditures -$7.000K $63.00K $435.0K
Free Cash Flow -$6.169M -$2.763M -$5.163M
YoY Change 57.17% -46.48% 48.06%

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ProceedsFromIssuanceOfCommonStock
2107000 usd
CY2024Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2000000 usd
CY2024Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2023Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
970000 usd
CY2024Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
8000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
14000 usd
CY2024Q1 crkn Proceeds From The Issuance Of Common Stock In Connection With Equity Line Of Credit Net Of Offering
ProceedsFromTheIssuanceOfCommonStockInConnectionWithEquityLineOfCreditNetOfOffering
1391000 usd
CY2023Q1 crkn Proceeds From The Issuance Of Common Stock In Connection With Equity Line Of Credit Net Of Offering
ProceedsFromTheIssuanceOfCommonStockInConnectionWithEquityLineOfCreditNetOfOffering
0 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1971000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7125000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-769000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1317000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1059000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
821000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
290000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2138000 usd
CY2024Q1 us-gaap Stock Issued1
StockIssued1
0 usd
CY2023Q1 us-gaap Stock Issued1
StockIssued1
4350000 usd
CY2024Q1 crkn Issuance Of Common Stock In Connection With Conversion Of Notes
IssuanceOfCommonStockInConnectionWithConversionOfNotes
0 usd
CY2023Q1 crkn Issuance Of Common Stock In Connection With Conversion Of Notes
IssuanceOfCommonStockInConnectionWithConversionOfNotes
516000 usd
CY2024Q1 crkn Commitment To Issue Shares Of Common Stock In Connection With March Waiver Agreement
CommitmentToIssueSharesOfCommonStockInConnectionWithMarchWaiverAgreement
0 usd
CY2023Q1 crkn Commitment To Issue Shares Of Common Stock In Connection With March Waiver Agreement
CommitmentToIssueSharesOfCommonStockInConnectionWithMarchWaiverAgreement
298000 usd
CY2024Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0 usd
CY2023Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
6000 usd
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
156000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
8000 usd
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121600000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
300000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4600000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed financial statements in conformity with GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenue and expenses during the reporting periods. Accounting estimates and assumptions are inherently uncertain. Management bases its estimates and assumptions on current facts, historical experience and various other factors believed to be reasonable under the circumstances. Actual results could differ materially and adversely from these estimates. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but not limited to, valuation of its business combination, estimated fair value of convertible notes, estimated fair value of warrant liability, Series F/F-1/F-2 preferred stock, stock option awards for stock-based compensation and operating lease right-of-use assets and liabilities.</span></div>
CY2024Q1 crkn Percentage Of Payment Invoices
PercentageOfPaymentInvoices
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CY2024Q1 us-gaap Revenues
Revenues
700000 usd
CY2023Q1 us-gaap Revenues
Revenues
22000 usd
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2022Q3 crkn Number Of Purchase Order Warrants
NumberOfPurchaseOrderWarrants
2 reportingunit
CY2024Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
100000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5935805 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11851544 shares
CY2024Q1 crkn Warranty Period
WarrantyPeriod
P2Y
CY2024Q1 us-gaap Product Warranty Expense
ProductWarrantyExpense
36000 usd
CY2023Q1 us-gaap Product Warranty Expense
ProductWarrantyExpense
0 usd
CY2024Q1 crkn Percentage Of Retainage Payments Withheld
PercentageOfRetainagePaymentsWithheld
0.05
CY2024Q1 crkn Retainage Receivable
RetainageReceivable
100000 usd
CY2023Q4 crkn Retainage Receivable
RetainageReceivable
0 usd
CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
655000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3036000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3129000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
100000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
100000 usd
CY2024Q1 crkn Prepaid License Fees
PrepaidLicenseFees
114000 usd
CY2023Q4 crkn Prepaid License Fees
PrepaidLicenseFees
158000 usd
CY2024Q1 crkn Prepaid Professional Fees
PrepaidProfessionalFees
142000 usd
CY2023Q4 crkn Prepaid Professional Fees
PrepaidProfessionalFees
53000 usd
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
60000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
26000 usd
CY2024Q1 crkn Prepaid Hudson Warrant
PrepaidHudsonWarrant
86000 usd
CY2023Q4 crkn Prepaid Hudson Warrant
PrepaidHudsonWarrant
86000 usd
CY2024Q1 us-gaap Prepaid Rent
PrepaidRent
60000 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
277000 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
351000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
128000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
813000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
728000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4111000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4048000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1075000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
919000 usd
CY2024Q1 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1800000 usd
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1800000 usd
CY2024Q1 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2023Q4 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2024Q1 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
4000 usd
CY2023Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
4000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2179000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2179000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
853000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
797000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1326000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1382000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
179000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
234000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
197000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
194000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
195000 usd
CY2024Q1 crkn Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
327000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1326000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
CY2024Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Gross
DebtIssuanceCostsLineOfCreditArrangementsGross
10647000 usd
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Gross
DebtIssuanceCostsLineOfCreditArrangementsGross
10647000 usd
CY2024Q1 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
10285000 usd
CY2023Q4 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
9341000 usd
CY2024Q1 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
362000 usd
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
1306000 usd
CY2024Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
118000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
112000 usd
CY2024Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
700000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1000000 usd
CY2024Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
96000 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
51000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
48000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
962000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1190000 usd
CY2024Q1 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Term1
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedTerm1
P0Y9M18D
CY2024Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
776000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
83000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1300000 usd
CY2024Q1 crkn Revenue From Contract With Customer Contract Price Advances Payments Collected
RevenueFromContractWithCustomerContractPriceAdvancesPaymentsCollected
1300000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2300000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
93000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
65000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
60000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
60000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
143000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
421000 usd
CY2024Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
23000 usd
CY2023Q3 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
400000 usd
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 crkn Aggregate Amount
AggregateAmount
50000000 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.0499
CY2024Q1 crkn Purchase Price Of Common Stock Percentage
PurchasePriceOfCommonStockPercentage
0.970
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
382779 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
65.04
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
250000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.09
CY2024Q1 crkn Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M24D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
632779 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.38
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
176728 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
138.32
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
250000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.957
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.049
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
274000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
181000 usd
CY2023Q4 crkn Share Based Compensations Arrangement By Share Based Payment Award Warrants Outstanding
ShareBasedCompensationsArrangementByShareBasedPaymentAwardWarrantsOutstanding
1760095 shares
CY2023Q4 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantOutstandingWeightedAverageExercisePrice
18.96
CY2023Q4 crkn Sharebased Compensation Arrangement By Sharebased Payment Award Warrant Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantOutstandingWeightedAverageRemainingContractualTerm2
P4Y4M24D
CY2023Q4 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantOutstandingIntrinsicValue
0 usd
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrants Issued
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsIssued
750000 shares
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Issued Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantIssuedWeightedAverageExercisePrice
0.09
CY2024Q1 crkn Sharebased Compensation Arrangement By Sharebased Payment Award Options Issued Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsIssuedWeightedAverageRemainingContractualTerm
P4Y10M24D
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Issued In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardIssuedInPeriodGrantDateIntrinsicValue
0 usd
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrants Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantsExercised
0 shares
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Exercised Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantExercisedWeightedAverageExercisePrice
0
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardExercisesInPeriodTotalIntrinsicValue
0 usd
CY2024Q1 crkn Share Based Compensations Arrangement By Share Based Payment Award Warrants Outstanding
ShareBasedCompensationsArrangementByShareBasedPaymentAwardWarrantsOutstanding
2510095 shares
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantOutstandingWeightedAverageExercisePrice
14.01
CY2024Q1 crkn Sharebased Compensation Arrangement By Sharebased Payment Award Warrant Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M12D
CY2024Q1 crkn Share Based Compensation Arrangement By Share Based Payment Award Warrant Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardWarrantOutstandingIntrinsicValue
0 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
471000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
190000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
58000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
471000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
248000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
484000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
192000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1146000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
606000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
578000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
478000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
240000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1902000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
346000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1556000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2024Q1 us-gaap Revenues
Revenues
682000 usd
CY2023Q1 us-gaap Revenues
Revenues
22000 usd
CY2024Q1 us-gaap Revenues
Revenues
682000 usd
CY2024Q1 us-gaap Cost Of Revenue
CostOfRevenue
1636000 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
-954000 usd
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
212000 usd
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
756000 usd
CY2024Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1783000 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-3705000 usd
CY2024Q1 us-gaap Interest Expense
InterestExpense
860000 usd
CY2024Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
23000 usd
CY2024Q1 us-gaap Other Expenses
OtherExpenses
24000 usd
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-907000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4612000 usd
CY2023Q1 us-gaap Revenues
Revenues
22000 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
31000 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
-9000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
182000 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
541000 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3394000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4126000 usd
CY2023Q1 us-gaap Interest Expense
InterestExpense
2017000 usd
CY2023Q1 crkn Loss On Extinguishment Of Warrant Liability
LossOnExtinguishmentOfWarrantLiability
504000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
64000 usd
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-5606000 usd
CY2023Q1 crkn Change In Fair Value Of Notes1
ChangeInFairValueOfNotes1
-117000 usd
CY2023Q1 crkn Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
0 usd
CY2023Q1 us-gaap Other Expenses
OtherExpenses
1206000 usd
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1826000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2300000 usd
CY2024Q1 us-gaap Other Assets
OtherAssets
165000 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
213000 usd
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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crkn-20240331.xsd Edgar Link pending
crkn-20240331xex311.htm Edgar Link pending
crkn-20240331xex312.htm Edgar Link pending
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crkn-20240331_cal.xml Edgar Link unprocessable
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crkn-20240331_def.xml Edgar Link unprocessable