2023 Q2 Form 10-Q Financial Statement

#000149315223016713 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $2.661M $2.853M $3.740M
YoY Change -45.21% -23.72% 21.82%
Cost Of Revenue $2.635M $2.212M $2.793M
YoY Change -22.61% -20.8% 20.39%
Gross Profit $26.00K $641.0K $947.0K
YoY Change -98.21% -32.31% 26.27%
Gross Profit Margin 0.98% 22.47% 25.32%
Selling, General & Admin $1.563M $1.875M $2.577M
YoY Change -36.9% -27.24% -13.81%
% of Gross Profit 6011.54% 292.51% 272.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $410.0K $407.0K $263.0K
YoY Change -3.07% 54.75% -12.33%
% of Gross Profit 1576.92% 63.49% 27.77%
Operating Expenses $1.428M $1.881M $2.577M
YoY Change -44.61% -27.01% -13.81%
Operating Profit -$1.402M -$1.240M -$1.630M
YoY Change 24.51% -23.93% -27.23%
Interest Expense $326.0K $329.0K -$406.0K
YoY Change -57.22% -181.03% 212.31%
% of Operating Profit
Other Income/Expense, Net -$241.0K -$358.0K $0.00
YoY Change -63.6% -100.0%
Pretax Income -$1.643M -$1.598M -$2.036M
YoY Change -8.11% -21.51% 785.22%
Income Tax
% Of Pretax Income
Net Earnings -$1.643M -$1.598M -$2.036M
YoY Change -8.11% -21.51% -154.88%
Net Earnings / Revenue -61.74% -56.01% -54.44%
Basic Earnings Per Share -$1.96 -$0.10 -$0.14
Diluted Earnings Per Share -$1.96 -$1.99 -$136.6K
COMMON SHARES
Basic Shares Outstanding 16.66M shares 16.53M shares 14.90M shares
Diluted Shares Outstanding 824.0K shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $839.0K $267.0K $2.606M
YoY Change -17.99% -89.75% 29.65%
Cash & Equivalents $839.0K $267.0K $2.606M
Short-Term Investments
Other Short-Term Assets $768.0K $941.0K $5.070M
YoY Change 2.54% -81.44% 604.17%
Inventory $3.610M $3.989M $6.085M
Prepaid Expenses $768.0K $941.0K
Receivables $926.0K $860.0K $1.255M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.143M $6.057M $15.02M
YoY Change -25.59% -59.66% 51.98%
LONG-TERM ASSETS
Property, Plant & Equipment $5.156M $5.489M $5.453M
YoY Change -20.31% 0.66% 38.75%
Goodwill
YoY Change
Intangibles $5.576M $5.655M
YoY Change -58.44%
Long-Term Investments
YoY Change
Other Assets $340.0K $354.0K $424.0K
YoY Change -17.27% -16.51% 17.78%
Total Long-Term Assets $13.56M $14.20M $19.40M
YoY Change -42.33% -26.82% 6.41%
TOTAL ASSETS
Total Short-Term Assets $6.143M $6.057M $15.02M
Total Long-Term Assets $13.56M $14.20M $19.40M
Total Assets $19.71M $20.25M $34.41M
YoY Change -37.98% -41.15% 22.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.363M $2.077M $2.367M
YoY Change 50.99% -12.25% 61.02%
Accrued Expenses $1.481M $1.429M $2.001M
YoY Change 5.33% -28.59% 28.27%
Deferred Revenue $154.0K $115.0K
YoY Change 600.0%
Short-Term Debt $500.0K $300.0K $0.00
YoY Change -100.0%
Long-Term Debt Due $15.92M $15.78M $6.811M
YoY Change 167.81% 131.64% 102.71%
Total Short-Term Liabilities $21.94M $21.29M $11.18M
YoY Change 120.29% 90.46% 19.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $8.110M
YoY Change -100.0% -100.0% 1490.2%
Other Long-Term Liabilities $1.804M $1.970M $2.524M
YoY Change -24.3% -21.95% -74.48%
Total Long-Term Liabilities $1.804M $1.970M $10.63M
YoY Change -82.36% -81.47% 2.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.94M $21.29M $11.18M
Total Long-Term Liabilities $1.804M $1.970M $10.63M
Total Liabilities $23.75M $23.26M $21.81M
YoY Change 17.64% 6.64% 10.22%
SHAREHOLDERS EQUITY
Retained Earnings -$78.30M -$76.70M
YoY Change 25.28%
Common Stock $0.00 $2.000K
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$4.038M -$3.009M $12.60M
YoY Change
Total Liabilities & Shareholders Equity $19.71M $20.25M $34.41M
YoY Change -37.98% -41.15% 22.43%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$1.643M -$1.598M -$2.036M
YoY Change -8.11% -21.51% -154.88%
Depreciation, Depletion And Amortization $410.0K $407.0K $263.0K
YoY Change -3.07% 54.75% -12.33%
Cash From Operating Activities -$211.0K -$428.0K -$136.0K
YoY Change -151.84% 214.71% -109.71%
INVESTING ACTIVITIES
Capital Expenditures $45.00K $0.00 -$1.389M
YoY Change -104.06% -100.0% 6845.0%
Acquisitions
YoY Change
Other Investing Activities $146.0K $0.00
YoY Change 1116.67% -100.0%
Cash From Investing Activities $101.0K -$28.00K -$1.389M
YoY Change -109.22% -97.98% -140.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 682.0K 855.0K
YoY Change -176.29% -123.49%
NET CHANGE
Cash From Operating Activities -211.0K -$428.0K -136.0K
Cash From Investing Activities 101.0K -$28.00K -1.389M
Cash From Financing Activities 682.0K 855.0K
Net Change In Cash 572.0K -$456.0K -670.0K
YoY Change -136.13% -31.94% -156.78%
FREE CASH FLOW
Cash From Operating Activities -$211.0K -$428.0K -$136.0K
Capital Expenditures $45.00K $0.00 -$1.389M
Free Cash Flow -$256.0K -$428.0K $1.253M
YoY Change -116.9% -134.16% -11.76%

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CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
180000 usd
CY2023Q1 EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
78000 usd
CY2022Q1 EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
50000 usd
CY2023Q1 EAST Payment Of Accrued Interest On Secured Credit Facilities
PaymentOfAccruedInterestOnSecuredCreditFacilities
-142000 usd
CY2023Q1 EAST Interest Accrued For Amounts Due To Related Parties
InterestAccruedForAmountsDueToRelatedParties
123000 usd
CY2023Q1 EAST Payment Of Accrued Interest On Amounts Due To Related Parties
PaymentOfAccruedInterestOnAmountsDueToRelatedParties
141000 usd
CY2023Q1 EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
60000 usd
CY2022Q1 EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
207000 usd
CY2023Q1 EAST Issuance Of Common Stock In Exchange For Services Of Third Parties
IssuanceOfCommonStockInExchangeForServicesOfThirdParties
83000 usd
CY2022Q1 EAST Issuance Of Common Stock In Exchange For Services Of Third Parties
IssuanceOfCommonStockInExchangeForServicesOfThirdParties
119000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-148000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-471000 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-457000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
390000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
924000 usd
CY2023Q1 EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-290000 usd
CY2022Q1 EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-229000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
350000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1102000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-104000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
205000 usd
CY2023Q1 us-gaap Increase Decrease Due From Other Related Parties
IncreaseDecreaseDueFromOtherRelatedParties
-279000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
96000 usd
CY2023Q1 EAST Increase Decrease In Net Lease Liabilities
IncreaseDecreaseInNetLeaseLiabilities
291000 usd
CY2022Q1 EAST Increase Decrease In Net Lease Liabilities
IncreaseDecreaseInNetLeaseLiabilities
111000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1389000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-28000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1389000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2840000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M14D
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2000000 usd
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
940000 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
205000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
855000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-456000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-670000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
723000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3276000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
267000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2606000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
323000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
215000 usd
CY2023Q1 EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
318000 usd
CY2022Q1 EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
177000 usd
CY2023Q1 EAST Exchange Of Assets For Services
ExchangeOfAssetsForServices
42000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
320000 usd
CY2022Q1 EAST Warrants Issued In Relation To Purchase Agreement
WarrantsIssuedInRelationToPurchaseAgreement
948000 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zon01hhEQcwk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_82C_z2YD6BMU7qvi">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eastside Distilling (the “Company” or “Eastside Distilling”) was incorporated under the laws of Nevada in 2004 under the name of Eurocan Holdings, Ltd. In December 2014, the Company changed its corporate name to Eastside Distilling, Inc. to reflect the acquisition of Eastside Distilling, LLC. The Company manufactures, acquires, blends, bottles, imports, markets and sells a wide variety of alcoholic beverages under recognized brands. The Company currently employs 49 people in the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates a beverage packaging and services business that operates in the beverage segment. During 2022, the Company made substantial investments to expand its product offerings to include digital can printing in the Pacific Northwest (together Craft Canning + Printing, “Craft C+P”). Craft C+P operates 13 mobile filling lines in Seattle, Washington; Spokane, Washington; and Portland, Oregon. The Company also offers co-packing services in Portland, Oregon offering end-to-end production capabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s spirits’ brands span several alcoholic beverage categories, including whiskey, vodka, rum, and tequila. The Company sells products on a wholesale basis to distributors in open states and through brokers in control states.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"> </p>
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-76700000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1600000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_zxrXNm61NoDh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zf0gv0arsiwg">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
-6382 usd
CY2022Q1 EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
-6382 usd
CY2023Q1 EAST Reversal Customer Discount
ReversalCustomerDiscount
3812 usd
CY2022Q1 EAST Reversal Customer Discount
ReversalCustomerDiscount
3812 usd
CY2023Q1 us-gaap Excise Taxes Collected
ExciseTaxesCollected
32136 usd
CY2022Q1 us-gaap Excise Taxes Collected
ExciseTaxesCollected
40062 usd
CY2023Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
100000 usd
CY2022Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
200000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_zBR30Xlx7dw1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zNpbIK5tEr6i">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of trade receivables. As of March 31, 2023, one distributor represented <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorsMember_zsw2qhhZ0Q01" title="Concentration risk percentage">9</span>% of trade receivables. As of December 31, 2022, one distributor represented <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorsMember_zN2LVccodqEk" title="Concentration risk percentage">15</span>% of trade receivables. Sales to one distributor and one wholesale customer accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zp7kuBd2YUa3" title="Concentration risk percentage">37</span>% of consolidated sales for the three months ended March 31, 2023. Sales to one distributor and one wholesale customer accounted for <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zaXgh9HEMUz9" title="Concentration risk percentage">40</span>% of consolidated sales for the year ended December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
CY2023Q1 EAST Interest Charged On Advance Payment Amount
InterestChargedOnAdvancePaymentAmount
500000 usd
CY2023Q1 EAST Interest Charged On Advance Rate
InterestChargedOnAdvanceRate
0.01 pure
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84C_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zpRZTIFCmwj3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_z1sQaArSXFK8">Reclassification of Prior Year Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
2691000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3127000 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1298000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1315000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
3989000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4442000 usd
CY2023Q1 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
350000 usd
CY2022Q4 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
346000 usd
CY2023Q1 EAST Prepayment Of Inventory Current
PrepaymentOfInventoryCurrent
302000 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
289000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
233000 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
941000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
579000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10088000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10060000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4599000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4319000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5489000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5741000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1400000 usd
CY2022Q1 us-gaap Investments
Investments
1300000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
300000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
100000 usd
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
5901 usd
CY2023Q1 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
100000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
141000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3198000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7412000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7412000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1757000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1654000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5655000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5758000 usd
CY2023Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
100000 usd
CY2022Q1 us-gaap Adjustment For Amortization
AdjustmentForAmortization
100000 usd
CY2023Q1 EAST Other Assets Gross
OtherAssetsGross
656000 usd
CY2022Q4 EAST Other Assets Gross
OtherAssetsGross
656000 usd
CY2023Q1 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
302000 usd
CY2022Q4 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
287000 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
354000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
369000 usd
CY2023Q1 EAST Net Value Of Service Write Down
NetValueOfServiceWriteDown
400000 usd
CY2023Q1 us-gaap Lessee Operating Lease Variable Lease Payment Terms And Conditions
LesseeOperatingLeaseVariableLeasePaymentTermsAndConditions
lease obligations expire at various dates through 2027
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2700000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2800000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
300000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
833000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
797000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
795000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
632000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067 pure
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
358000 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
7749000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
7749000 usd
CY2023Q1 us-gaap Notes Payable Current
NotesPayableCurrent
7749000 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
7749000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7749000 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
7749000 usd
CY2023Q1 EAST Stock Issuance Cost Percentage
StockIssuanceCostPercentage
0.05 pure
CY2023Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
The Company may prepay the Notes at any time in whole or in part by paying a sum of money equal to 100% of the principal amount to be redeemed, together with accrued and unpaid interest, plus a prepayment fee equal to five percent (5%) of the principal amount to be repaid
CY2023Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1 pure
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
13399000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
119000 usd
CY2022Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
207000 usd
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
948000 usd
CY2022Q1 EAST Net Loss
NetLoss
-38000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2036000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
12601000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-1516000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-1516000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
83000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
60000 usd
CY2023Q1 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
38000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1598000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-3009000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-3009000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
51752 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.16
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
51752 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.16
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
51752 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
3.16
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1614 usd
CY2022Q1 us-gaap Loans Payable
LoansPayable
3500000 usd
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
1.20
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4033333 shares
CY2023Q1 EAST Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
P3Y9M18D
CY2022Q4 EAST Exercise Price Minimum
ExercisePriceMinimum
1.67
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4033333 shares
CY2023Q1 EAST Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Ending
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermEnding
P3Y9M18D
CY2023Q1 EAST Exercise Price Minimum
ExercisePriceMinimum
1.67
CY2022Q1 EAST Assets Requirement From Related Party Transaction
AssetsRequirementFromRelatedPartyTransaction
100000 usd
CY2022Q1 EAST Percentage Of Average Of Assets Net
PercentageOfAverageOfAssetsNet
0.01 pure
CY2022Q1 us-gaap Other Assets
OtherAssets
300000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
700000 usd
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
300000 usd
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1000000.0 usd

Files In Submission

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east-20230331_cal.xml Edgar Link unprocessable
0001493152-23-016713-index-headers.html Edgar Link pending
0001493152-23-016713-index.html Edgar Link pending
0001493152-23-016713.txt Edgar Link pending
0001493152-23-016713-xbrl.zip Edgar Link pending
east-20230331.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
form10-q_001.jpg Edgar Link pending
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east-20230331_def.xml Edgar Link unprocessable
east-20230331_lab.xml Edgar Link unprocessable
east-20230331_pre.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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