2024 Q3 Form 10-Q Financial Statement

#000176169624000061 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $8.037M $4.648M $37.00K
YoY Change 12462.16%
Cost Of Revenue $6.623M $4.039M $23.00K
YoY Change 17460.87%
Gross Profit $1.414M $609.0K $14.00K
YoY Change 4250.0%
Gross Profit Margin 17.59% 13.1% 37.84%
Selling, General & Admin $6.507M $4.187M $4.409M
YoY Change 121.25% -5.04% 46.87%
% of Gross Profit 460.18% 687.52% 31492.86%
Research & Development $720.0K $1.111M $490.0K
YoY Change 46.34% 126.73% -66.73%
% of Gross Profit 50.92% 182.43% 3500.0%
Depreciation & Amortization $200.0K $100.0K $192.0K
YoY Change 100.0% -47.92% 182.35%
% of Gross Profit 14.14% 16.42% 1371.43%
Operating Expenses $7.227M $5.298M $4.899M
YoY Change 110.52% 8.14% 9.47%
Operating Profit -$5.813M -$4.908M -$4.885M
YoY Change 69.33% 0.47% 9.16%
Interest Expense $0.00 -$145.0K $2.508M
YoY Change -100.0% -105.78% 125300.0%
% of Operating Profit
Other Income/Expense, Net -$51.00K -$121.0K -$9.634M
YoY Change -108.89% -98.74% 481600.0%
Pretax Income -$5.864M -$5.029M -$14.52M
YoY Change 105.11% -65.36% 224.3%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.864M -$5.029M -$14.52M
YoY Change 105.11% -65.36% 224.3%
Net Earnings / Revenue -72.96% -108.2% -39240.54%
Basic Earnings Per Share -$1.26 -$5.89 -$2.720K
Diluted Earnings Per Share -$1.26 -$5.89 -$18.02
COMMON SHARES
Basic Shares Outstanding 4.390M shares 281.9M shares 50.71M shares
Diluted Shares Outstanding 4.662M shares 1.740M shares 811.0K shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.087M $3.990M $36.00K
YoY Change 49.85% 10983.33% -96.34%
Cash & Equivalents $3.100M $4.000M $36.00K
Short-Term Investments
Other Short-Term Assets $355.0K $30.00K $36.00K
YoY Change 269.79% -16.67% -94.73%
Inventory
Prepaid Expenses
Receivables $4.869M $3.400M
Other Receivables $158.0K $211.0K
Total Short-Term Assets $8.751M $9.174M $792.0K
YoY Change 228.74% 1058.33% -52.49%
LONG-TERM ASSETS
Property, Plant & Equipment $5.316M $3.012M $2.366M
YoY Change 101.52% 27.3% 116.67%
Goodwill $652.0K
YoY Change
Intangibles $1.688M
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.0K $160.0K $33.00K
YoY Change 478.79% 384.85% -91.81%
Total Long-Term Assets $8.873M $6.826M $11.36M
YoY Change -6.64% -39.89% 114.2%
TOTAL ASSETS
Total Short-Term Assets $8.751M $9.174M $792.0K
Total Long-Term Assets $8.873M $6.826M $11.36M
Total Assets $17.62M $16.00M $12.15M
YoY Change 44.86% 31.72% 74.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.337M $2.215M $1.822M
YoY Change 133.8% 21.57% 116.9%
Accrued Expenses $917.0K $898.0K $408.0K
YoY Change 424.0% 120.1% 251.72%
Deferred Revenue $240.0K $1.300M
YoY Change
Short-Term Debt $0.00 $0.00 $1.800M
YoY Change -100.0% -100.0% 22400.0%
Long-Term Debt Due $128.0K $636.0K
YoY Change
Total Short-Term Liabilities $6.261M $5.744M $7.235M
YoY Change 146.79% -20.61% 201.46%
LONG-TERM LIABILITIES
Long-Term Debt $310.0K $296.0K $0.00
YoY Change
Other Long-Term Liabilities $1.130M $1.178M $355.0K
YoY Change 213.89% 231.83% -80.44%
Total Long-Term Liabilities $1.440M $1.474M $355.0K
YoY Change 300.0% 315.21% -80.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.261M $5.744M $7.235M
Total Long-Term Liabilities $1.440M $1.474M $355.0K
Total Liabilities $7.701M $7.218M $7.590M
YoY Change 166.29% -4.9% 80.07%
SHAREHOLDERS EQUITY
Retained Earnings -$132.5M -$126.6M -$104.8M
YoY Change 23.03% 20.77% 26.7%
Common Stock $0.00 $0.00 $6.000K
YoY Change -100.0% -100.0% 500.0%
Preferred Stock $700.0K
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.923M $8.782M $4.557M
YoY Change
Total Liabilities & Shareholders Equity $17.62M $16.00M $12.15M
YoY Change 44.86% 31.72% 74.33%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$5.864M -$5.029M -$14.52M
YoY Change 105.11% -65.36% 224.3%
Depreciation, Depletion And Amortization $200.0K $100.0K $192.0K
YoY Change 100.0% -47.92% 182.35%
Cash From Operating Activities -$2.909M -$6.176M -$3.658M
YoY Change -14.94% 68.84% 52.99%
INVESTING ACTIVITIES
Capital Expenditures $2.067M -$7.000K $267.0K
YoY Change 458.65% -102.62% -205.12%
Acquisitions
YoY Change
Other Investing Activities -$158.0K $0.00 $6.000K
YoY Change 1480.0% -100.0%
Cash From Investing Activities -$2.225M $7.000K -$271.0K
YoY Change 485.53% -102.58% 6.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.231M 9.869M 1.824M
YoY Change -27.3% 441.06% 63.44%
NET CHANGE
Cash From Operating Activities -2.909M -6.176M -3.658M
Cash From Investing Activities -2.225M 7.000K -271.0K
Cash From Financing Activities 4.231M 9.869M 1.824M
Net Change In Cash -903.0K 3.700M -2.105M
YoY Change -144.7% -275.77% 37.67%
FREE CASH FLOW
Cash From Operating Activities -$2.909M -$6.176M -$3.658M
Capital Expenditures $2.067M -$7.000K $267.0K
Free Cash Flow -$4.976M -$6.169M -$3.925M
YoY Change 31.29% 57.17% 83.67%

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AmortizationOfNotesPayable
0 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-235000 usd
us-gaap Interest Expense Other
InterestExpenseOther
0 usd
us-gaap Interest Expense Other
InterestExpenseOther
1275000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-114000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3268000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1244000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
0 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
211000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
0 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1260000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
0 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
715000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
886000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-296000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-742000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-374000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1101000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8853000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
0 usd
us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
644000 usd
us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
56000 usd
us-gaap Payments To Acquire Equipment On Lease
PaymentsToAcquireEquipmentOnLease
707000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-56000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1351000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2061000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
588000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2107000 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 usd
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2350000 usd
crkn Proceeds From Issuance Of Series F1 Preferred Stock Net Of Fees
ProceedsFromIssuanceOfSeriesF1PreferredStockNetOfFees
0 usd
crkn Proceeds From Issuance Of Series F1 Preferred Stock Net Of Fees
ProceedsFromIssuanceOfSeriesF1PreferredStockNetOfFees
2328000 usd
crkn Proceeds From Issuance Of Series F2 Preferred Stock
ProceedsFromIssuanceOfSeriesF2PreferredStock
0 usd
crkn Proceeds From Issuance Of Series F2 Preferred Stock
ProceedsFromIssuanceOfSeriesF2PreferredStock
748000 usd
crkn Proceeds From Issuance Of Senior Secured Notes Net Of Fees Paid
ProceedsFromIssuanceOfSeniorSecuredNotesNetOfFeesPaid
0 usd
crkn Proceeds From Issuance Of Senior Secured Notes Net Of Fees Paid
ProceedsFromIssuanceOfSeniorSecuredNotesNetOfFeesPaid
1357000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1164000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
646000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1997000 usd
crkn Proceeds From The Issuance Of Common Stock In Connection With Equity Line Of Credit Net Of Offering
ProceedsFromTheIssuanceOfCommonStockInConnectionWithEquityLineOfCreditNetOfOffering
10734000 usd
crkn Proceeds From The Issuance Of Common Stock In Connection With Equity Line Of Credit Net Of Offering
ProceedsFromTheIssuanceOfCommonStockInConnectionWithEquityLineOfCreditNetOfOffering
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11840000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8954000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2931000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-785000 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
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3990000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36000 usd
us-gaap Interest Paid Net
InterestPaidNet
90000 usd
us-gaap Interest Paid Net
InterestPaidNet
8000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
2000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
560000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
crkn Net Impact Of Reverse Stock Splits
NetImpactOfReverseStockSplits
7000 usd
crkn Net Impact Of Reverse Stock Splits
NetImpactOfReverseStockSplits
0 usd
crkn Issuance Of Common Stock In Connection With Conversion Of Line Of Credit
IssuanceOfCommonStockInConnectionWithConversionOfLineOfCredit
0 usd
crkn Issuance Of Common Stock In Connection With Conversion Of Line Of Credit
IssuanceOfCommonStockInConnectionWithConversionOfLineOfCredit
9943000 usd
crkn Issuance Of Preferred Stock In Connection With Exchange
IssuanceOfPreferredStockInConnectionWithExchange
0 usd
crkn Issuance Of Preferred Stock In Connection With Exchange
IssuanceOfPreferredStockInConnectionWithExchange
450000 usd
crkn Issuance Of Common Stock In Connection With Conversion Of Notes
IssuanceOfCommonStockInConnectionWithConversionOfNotes
0 usd
crkn Issuance Of Common Stock In Connection With Conversion Of Notes
IssuanceOfCommonStockInConnectionWithConversionOfNotes
516000 usd
crkn Commitment To Issue Shares Of Common Stock In Connection With Demand Notes
CommitmentToIssueSharesOfCommonStockInConnectionWithDemandNotes
0 usd
crkn Commitment To Issue Shares Of Common Stock In Connection With Demand Notes
CommitmentToIssueSharesOfCommonStockInConnectionWithDemandNotes
286000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
92000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4000000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9600000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8900000 usd
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, cost-to-cost (input) revenue recognition method, estimated fair value of warrant liability, stock option awards for stock-based compensation and operating lease right-of-use assets and liabilities.</span></div>
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3400000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
83000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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us-gaap Concentration Risk Credit Risk
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<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%">Concentrations of risk and significant customers</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%">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and accounts receivable. The Company maintains its cash accounts with financial institutions where deposits, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) limits. The Company has not experienced any losses in such accounts through June 30, 2024.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s customers are generally large public or private companies with good credit and payment practices and a positive reputation in the industry at the time that the contracts are entered into. Furthermore, because it has the ability to stop transferring promised goods and services if payment is not received, the Company has concluded that collection risk is minimal.</span></div><div style="text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">One single customer accounted for 82% of accounts receivable as of June 30, 2024.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s revenue is primarily generated from its Fiber Optics segment. Two customers accounted for approximately 84% of the total revenue generated as of June 30, 2024.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, the Company’s accounts payable primarily included costs associated with professional fees, subcontractor labor, equipment, and other supplies and materials.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
258394 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
732472 shares
CY2024Q2 us-gaap Revenues
Revenues
4600000 usd
CY2023Q2 us-gaap Revenues
Revenues
37000 usd
us-gaap Revenues
Revenues
5300000 usd
us-gaap Revenues
Revenues
100000 usd
CY2024Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
1200000 usd
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
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CY2024Q2 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
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CY2023Q4 us-gaap Contract With Customer Asset Accumulated Allowance For Credit Loss
ContractWithCustomerAssetAccumulatedAllowanceForCreditLoss
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CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1300000 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1300000 usd
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
6000000 usd
CY2024Q2 crkn Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Percentage
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPercentage
1
CY2024Q2 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q2 crkn Prepaid License Fees
PrepaidLicenseFees
48000 usd
CY2023Q4 crkn Prepaid License Fees
PrepaidLicenseFees
158000 usd
CY2024Q2 crkn Prepaid Professional Fees
PrepaidProfessionalFees
133000 usd
CY2023Q4 crkn Prepaid Professional Fees
PrepaidProfessionalFees
53000 usd
CY2024Q2 us-gaap Prepaid Insurance
PrepaidInsurance
52000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
26000 usd
CY2024Q2 crkn Prepaid Hudson Warrant
PrepaidHudsonWarrant
53000 usd
CY2023Q4 crkn Prepaid Hudson Warrant
PrepaidHudsonWarrant
86000 usd
CY2024Q2 us-gaap Prepaid Rent
PrepaidRent
62000 usd
CY2023Q4 us-gaap Prepaid Rent
PrepaidRent
277000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
30000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
128000 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
378000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
728000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4247000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4048000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1235000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
919000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3012000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3129000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
100000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
100000 usd
us-gaap Depreciation
Depreciation
300000 usd
us-gaap Depreciation
Depreciation
300000 usd
CY2024Q2 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1800000 usd
CY2023Q4 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
1800000 usd
CY2024Q2 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2023Q4 crkn Finite Lived Intangible Assets Research License Gross
FiniteLivedIntangibleAssetsResearchLicenseGross
375000 usd
CY2024Q2 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
4000 usd
CY2023Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
4000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2179000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2179000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
910000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
797000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1269000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1382000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
122000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
234000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
197000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
194000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
195000 usd
CY2024Q2 crkn Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
327000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1269000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
0 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P0Y8M12D
CY2024Q2 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
118000 usd
CY2023Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
112000 usd
CY2024Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
0 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1000000 usd
CY2024Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
56000 usd
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
51000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
724000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
31000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
898000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1194000 usd
CY2024Q2 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
CY2024Q2 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
10355000 usd
CY2023Q4 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
9341000 usd
CY2024Q2 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
292000 usd
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
1306000 usd
CY2024Q2 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
10400000 usd
CY2023Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
9300000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1000000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
636000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
33000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
60000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
60000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
65000 usd
CY2024Q2 crkn Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
78000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
932000 usd
CY2023Q3 crkn Aggregate Amount
AggregateAmount
50000000.0 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.0499
crkn Purchase Price Of Common Stock Percentage
PurchasePriceOfCommonStockPercentage
0.970
CY2024Q2 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
0.0462
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2578 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9868
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
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1667 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14
crkn Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P9Y10M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
0
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4245 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5998
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1770 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
14245
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M18D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
100000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2151000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
132000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2424000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
313000 usd
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
165000 usd
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
126000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
384000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
316000 usd
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
20000 usd
CY2023Q2 crkn Variable Lease Cost After Adjustments
VariableLeaseCostAfterAdjustments
-9000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
20000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
49000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
185000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
117000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
404000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
365000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
378000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
311000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
560000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
346000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
775000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
680000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
409000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2210000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
297000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1913000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2024Q2 us-gaap Revenues
Revenues
4648000 usd
CY2023Q2 us-gaap Revenues
Revenues
37000 usd
us-gaap Revenues
Revenues
5330000 usd
us-gaap Revenues
Revenues
59000 usd
CY2024Q2 us-gaap Revenues
Revenues
4648000 usd
CY2024Q2 us-gaap Cost Of Revenue
CostOfRevenue
4039000 usd
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
219000 usd
CY2024Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1111000 usd
CY2024Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4187000 usd
CY2024Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4908000 usd
CY2024Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
145000 usd
CY2024Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-23000 usd
CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000 usd
CY2024Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-121000 usd
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-5029000 usd
CY2023Q2 us-gaap Revenues
Revenues
37000 usd
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
23000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
81000 usd
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
490000 usd
CY2023Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4328000 usd
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4885000 usd
CY2023Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
2508000 usd
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2345000 usd
CY2023Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2130000 usd
CY2023Q2 crkn Change In Fair Value Of Notes1
ChangeInFairValueOfNotes1
-6883000 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-28000 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-14519000 usd
us-gaap Revenues
Revenues
5330000 usd
us-gaap Cost Of Revenue
CostOfRevenue
5819000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
286000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1867000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5970000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-8612000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
1005000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-24000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9641000 usd
us-gaap Revenues
Revenues
59000 usd
us-gaap Cost Of Revenue
CostOfRevenue
54000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
263000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1031000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
7722000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-9011000 usd
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
4525000 usd
crkn Loss On Extinguishment Of Warrant Liability
LossOnExtinguishmentOfWarrantLiability
504000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2345000 usd
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
64000 usd
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-7736000 usd
crkn Change In Fair Value Of Notes1
ChangeInFairValueOfNotes1
-7000000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1234000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7808000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-16819000 usd
CY2024Q2 us-gaap Other Assets
OtherAssets
160000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
33000 usd

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