2024 Q3 Form 10-Q Financial Statement
#000121390024069044 Filed on August 14, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $81.27K | ||
YoY Change | 120.48% | ||
% of Gross Profit | |||
Research & Development | $451.0K | $389.2K | $349.6K |
YoY Change | 82.58% | 11.34% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $1.302M | $1.497M | $81.27K |
YoY Change | 134.39% | 1742.02% | 120.48% |
Operating Profit | -$1.302M | -$1.497M | -$81.27K |
YoY Change | 134.39% | 1742.02% | 120.48% |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | -$525.2K | -$9.872K | |
YoY Change | -28894.46% | ||
Pretax Income | -$1.827M | -$1.507M | -$81.27K |
YoY Change | 230.05% | 1754.17% | 120.48% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.827M | -$1.507M | -$81.27K |
YoY Change | 230.05% | 1754.17% | 120.48% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | $0.00 | $0.00 | $0.00 |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.00 |
COMMON SHARES | |||
Basic Shares Outstanding | 495.5M shares | 495.5M shares | 202.3M shares |
Diluted Shares Outstanding | 738.3M shares | 495.5M shares | 202.3M shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $27.22K | ||
YoY Change | -78.21% | ||
Cash & Equivalents | $1.143M | $1.834M | $27.22K |
Short-Term Investments | |||
Other Short-Term Assets | $1.960K | ||
YoY Change | 6.52% | ||
Inventory | |||
Prepaid Expenses | $1.959K | ||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $1.242M | $1.895M | $29.18K |
YoY Change | -70.16% | 6394.15% | -76.98% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $25.38K | $26.61K | |
YoY Change | 916.71% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $25.38K | $26.61K | $0.00 |
YoY Change | 916.71% | ||
TOTAL ASSETS | |||
Total Short-Term Assets | $1.242M | $1.895M | $29.18K |
Total Long-Term Assets | $25.38K | $26.61K | $0.00 |
Total Assets | $1.267M | $1.921M | $29.18K |
YoY Change | -69.57% | 6485.37% | -76.98% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $84.68K | $94.34K | $176.0K |
YoY Change | 1353.48% | -46.38% | 77.17% |
Accrued Expenses | $592.00 | ||
YoY Change | 0.34% | ||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | ||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $887.9K | $257.9K | $884.7K |
YoY Change | -9.47% | -70.85% | 16.71% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | ||
YoY Change | |||
Other Long-Term Liabilities | $5.126K | ||
YoY Change | 1248.95% | ||
Total Long-Term Liabilities | $5.126K | $0.00 | |
YoY Change | 1248.95% | ||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $887.9K | $257.9K | $884.7K |
Total Long-Term Liabilities | $5.126K | $0.00 | |
Total Liabilities | $893.0K | $263.0K | $884.7K |
YoY Change | -8.98% | -70.27% | 16.71% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$18.37M | -$16.55M | -$41.94M |
YoY Change | 60.21% | -60.54% | 0.54% |
Common Stock | $95.70K | $49.55K | $41.08M |
YoY Change | 93.16% | -99.88% | 0.0% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $374.5K | $1.658M | -$855.5K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.267M | $1.921M | $29.18K |
YoY Change | -69.57% | 6485.37% | -76.98% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.827M | -$1.507M | -$81.27K |
YoY Change | 230.05% | 1754.17% | 120.48% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$16.14K | ||
YoY Change | -27.4% | ||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | $0.00 | ||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 20.00K | ||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -16.14K | ||
Cash From Investing Activities | 0.000 | ||
Cash From Financing Activities | 20.00K | ||
Net Change In Cash | 3.860K | ||
YoY Change | -117.36% | ||
FREE CASH FLOW | |||
Cash From Operating Activities | -$16.14K | ||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.01 | ||
CY2023Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
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us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
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CY2024Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
usd | |
CY2023Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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dei |
Document Type
DocumentType
|
10-Q | ||
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|
true | ||
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Document Period End Date
DocumentPeriodEndDate
|
2024-06-30 | ||
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Document Fiscal Year Focus
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2024 | ||
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Document Transition Report
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Entity File Number
EntityFileNumber
|
000-51783 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Dror Ortho-Design, Inc. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
85-0461778 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
Shatner Street 3 | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Jerusalem | ||
dei |
Entity Address Country
EntityAddressCountry
|
IL | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
N/A | ||
dei |
City Area Code
CityAreaCode
|
+972 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
(0)74-700-6700 | ||
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Security12b Title
Security12bTitle
|
None | ||
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No Trading Symbol Flag
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|
true | ||
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Entity Current Reporting Status
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Yes | ||
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Entity Interactive Data Current
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Entity Filer Category
EntityFilerCategory
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Non-accelerated Filer | ||
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Entity Small Business
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Entity Emerging Growth Company
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Prepaid Expense And Other Assets Current
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Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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Preferred Stock Par Or Stated Value Per Share
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Preferred Stock Value
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Common Stock Par Or Stated Value Per Share
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Depreciation
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Depreciation
Depreciation
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us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-25849 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1513366 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1005894 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3347843 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1039059 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1834477 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
33165 | usd |
CY2023Q3 | us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
106782187 | shares |
CY2024Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-16545958 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates and Assumptions</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could vary from those estimates. Management utilizes various other estimates, including but not limited to accrued royalties, accrued expenses, the valuation of stock-based compensation, the valuation allowance for deferred tax assets and other contingencies. The results of any changes in accounting estimates are reflected in the financial statements in the period in which the changes become evident. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the period that they are determined to be necessary.</p> | ||
CY2024Q2 | dror |
Currency Exchange Rate
CurrencyExchangeRate
|
3.759 | |
CY2023Q4 | dror |
Currency Exchange Rate
CurrencyExchangeRate
|
3.627 | |
CY2024Q2 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
145168 | usd |
CY2024Q2 | us-gaap |
Investment Owned Balance Shares
InvestmentOwnedBalanceShares
|
100 | shares |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
975288919 | shares | |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
510794865 | shares | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
184264323 | shares | |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
163142084 | shares | |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
2205889541 | shares | |
us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
1431636849 | shares | |
us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Reclassification</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and administrative expenses totaling $38,662 and $5,088 for the three months ended June 30, 2023, and $97,042 and $10,120 for the six months ended June 30, 2023, were reclassified to research and development and share-based compensation, respectively, to conform with current period presentation. The reclassifications had no effect on the net loss for the six months ended June 30, 2023.</p> | ||
dror |
Percentage Of Royalty Payment
PercentageOfRoyaltyPayment
|
0.03 | pure | |
dror |
Maximum Percentage Of Grants Provided For Royalty Payment
MaximumPercentageOfGrantsProvidedForRoyaltyPayment
|
1 | pure | |
CY2024Q2 | us-gaap |
Other Commitment
OtherCommitment
|
1160000 | usd |
CY2023Q4 | us-gaap |
Other Commitment
OtherCommitment
|
1120000 | usd |
us-gaap |
Product Liability Contingency Third Party Recovery Percentage
ProductLiabilityContingencyThirdPartyRecoveryPercentage
|
0.01 | pure | |
dror |
Liquidated Bear Interest Rate
LiquidatedBearInterestRate
|
0.18 | pure | |
dror |
Investors Percentage
InvestorsPercentage
|
0.501 | pure | |
us-gaap |
Product Liability Contingency Loss Exposure Not Accrued Best Estimate
ProductLiabilityContingencyLossExposureNotAccruedBestEstimate
|
520000 | usd | |
CY2023Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
240000 | usd |
CY2024Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
0.0001 | |
us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Common Stock are entitled to vote on a 1 share/1 vote basis | ||
dror |
Warrants To Be Expired
WarrantsToBeExpired
|
20960439 | shares | |
CY2023Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
18181817 | shares |
CY2023Q3 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P5Y | |
CY2023Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
0.033 | |
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
35814 | usd | |
dror |
Exercise Price Of The Warrants Percentage
ExercisePriceOfTheWarrantsPercentage
|
3 | pure | |
dror |
Minimum Trading Volume Of Common Stock Each Trading Day Condition For Warrant Redemption
MinimumTradingVolumeOfCommonStockEachTradingDayConditionForWarrantRedemption
|
500000 | usd | |
dror |
Warrant Redemption Price Per Share
WarrantRedemptionPricePerShare
|
0.001 | ||
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
21122239 | shares |
CY2024Q2 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
0.0037 | |
CY2024Q2 | dror |
Vested Immediately Grant And Terminate
VestedImmediatelyGrantAndTerminate
|
P10Y | |
CY2024Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
170920 | usd |
CY2024Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
774428 | usd |
CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5088 | usd |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1311625 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10120 | usd | |
CY2023Q2 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
3651 | usd |
us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
992768 | usd | |
CY2024Q2 | dror |
Share Based Compensation Relating To Research And Development Expenses
ShareBasedCompensationRelatingToResearchAndDevelopmentExpenses
|
163734 | usd |
CY2023Q2 | dror |
Share Based Compensation Relating To Research And Development Expenses
ShareBasedCompensationRelatingToResearchAndDevelopmentExpenses
|
1437 | usd |
dror |
Share Based Compensation Relating To Research And Development Expenses
ShareBasedCompensationRelatingToResearchAndDevelopmentExpenses
|
318857 | usd | |
dror |
Share Based Compensation Relating To Research And Development Expenses
ShareBasedCompensationRelatingToResearchAndDevelopmentExpenses
|
2857 | usd | |
CY2022Q2 | dror |
Consideration Amount
ConsiderationAmount
|
3500 | usd |
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2610 | shares |
CY2022Q2 | us-gaap |
Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
|
9597675 | shares |
CY2024Q1 | us-gaap |
Payments For Fees
PaymentsForFees
|
5000 | usd |
CY2024Q1 | us-gaap |
Proceeds From Fees Received
ProceedsFromFeesReceived
|
55000 | usd |
CY2023Q3 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
145000 | usd |
CY2023Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
10454500 | shares |
CY2023Q3 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
0.033 | |
CY2023Q3 | us-gaap |
Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
|
14500 | usd |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
|
2024-07-15 | |
CY2024Q2 | us-gaap |
Product Warranty Liquidation Proceeds Amount
ProductWarrantyLiquidationProceedsAmount
|
35814 | usd |
CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2023Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.00 | |
CY2024Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
495454546 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
495454546 | shares | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
usd | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | ||
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
usd | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001282980 |