2023 Q3 Form 10-Q Financial Statement

#000149315223028492 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $2.983M $2.661M
YoY Change 0.2% -45.21%
Cost Of Revenue $2.471M $2.635M
YoY Change -11.34% -22.61%
Gross Profit $512.0K $26.00K
YoY Change 169.47% -98.21%
Gross Profit Margin 17.16% 0.98%
Selling, General & Admin $1.213M $1.563M
YoY Change -43.32% -36.9%
% of Gross Profit 236.91% 6011.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $302.0K $410.0K
YoY Change -27.75% -3.07%
% of Gross Profit 58.98% 1576.92%
Operating Expenses $1.174M $1.428M
YoY Change -45.14% -44.61%
Operating Profit -$662.0K -$1.402M
YoY Change -66.05% 24.51%
Interest Expense $207.0K $326.0K
YoY Change -74.38% -57.22%
% of Operating Profit
Other Income/Expense, Net -$1.494M -$241.0K
YoY Change 90.8% -63.6%
Pretax Income -$2.156M -$1.643M
YoY Change -21.11% -8.11%
Income Tax
% Of Pretax Income
Net Earnings -$2.156M -$1.643M
YoY Change -21.11% -8.11%
Net Earnings / Revenue -72.28% -61.74%
Basic Earnings Per Share -$2.00 -$1.96
Diluted Earnings Per Share -$2.00 -$1.96
COMMON SHARES
Basic Shares Outstanding 1.109M shares 16.66M shares
Diluted Shares Outstanding 1.097K shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $358.0K $839.0K
YoY Change -17.13% -17.99%
Cash & Equivalents $358.0K $839.0K
Short-Term Investments
Other Short-Term Assets $739.0K $768.0K
YoY Change 1.93% 2.54%
Inventory $3.563M $3.610M
Prepaid Expenses $768.0K
Receivables $1.089M $926.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.749M $6.143M
YoY Change -18.4% -25.59%
LONG-TERM ASSETS
Property, Plant & Equipment $4.995M $5.156M
YoY Change -19.02% -20.31%
Goodwill
YoY Change
Intangibles $5.473M $5.576M
YoY Change -58.89% -58.44%
Long-Term Investments
YoY Change
Other Assets $326.0K $340.0K
YoY Change -14.88% -17.27%
Total Long-Term Assets $13.03M $13.56M
YoY Change -43.05% -42.33%
TOTAL ASSETS
Total Short-Term Assets $5.749M $6.143M
Total Long-Term Assets $13.03M $13.56M
Total Assets $18.78M $19.71M
YoY Change -37.25% -37.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.958M $2.363M
YoY Change -8.68% 50.99%
Accrued Expenses $709.0K $1.481M
YoY Change -59.06% 5.33%
Deferred Revenue $53.00K $154.0K
YoY Change -14.52% 600.0%
Short-Term Debt $0.00 $500.0K
YoY Change
Long-Term Debt Due $578.0K $15.92M
YoY Change -90.35% 167.81%
Total Short-Term Liabilities $4.017M $21.94M
YoY Change -63.31% 120.29%
LONG-TERM LIABILITIES
Long-Term Debt $10.48M $0.00
YoY Change 33.59% -100.0%
Other Long-Term Liabilities $1.634M $1.804M
YoY Change -25.08% -24.3%
Total Long-Term Liabilities $12.11M $1.804M
YoY Change 20.82% -82.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.017M $21.94M
Total Long-Term Liabilities $12.11M $1.804M
Total Liabilities $16.13M $23.75M
YoY Change -23.1% 17.64%
SHAREHOLDERS EQUITY
Retained Earnings -$80.50M -$78.30M
YoY Change 23.28% 25.28%
Common Stock $0.00 $0.00
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.654M -$4.038M
YoY Change
Total Liabilities & Shareholders Equity $18.78M $19.71M
YoY Change -37.25% -37.98%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.156M -$1.643M
YoY Change -21.11% -8.11%
Depreciation, Depletion And Amortization $302.0K $410.0K
YoY Change -27.75% -3.07%
Cash From Operating Activities -$1.057M -$211.0K
YoY Change 780.83% -151.84%
INVESTING ACTIVITIES
Capital Expenditures $129.0K $45.00K
YoY Change 6350.0% -104.06%
Acquisitions
YoY Change
Other Investing Activities $25.00K $146.0K
YoY Change 1116.67%
Cash From Investing Activities -$94.00K $101.0K
YoY Change -4800.0% -109.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 676.0K 682.0K
YoY Change -242.92% -176.29%
NET CHANGE
Cash From Operating Activities -1.057M -211.0K
Cash From Investing Activities -94.00K 101.0K
Cash From Financing Activities 676.0K 682.0K
Net Change In Cash -475.0K 572.0K
YoY Change -19.63% -136.13%
FREE CASH FLOW
Cash From Operating Activities -$1.057M -$211.0K
Capital Expenditures $129.0K $45.00K
Free Cash Flow -$1.186M -$256.0K
YoY Change 872.13% -116.9%

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us-gaap Dividends Preferred Stock
DividendsPreferredStock
75000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1680000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1824000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3316000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3899000 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.96
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.39
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.94
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.16
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
856000 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
764000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
841000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
755000 shares
us-gaap Net Income Loss
NetIncomeLoss
-3241000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3824000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
817000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
686000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
9000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
28000 usd
us-gaap Other Income
OtherIncome
25000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
129000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-101000 usd
EAST Inventory Reserve
InventoryReserve
17000 usd
EAST Inventory Reserve
InventoryReserve
32000 usd
EAST Stock Dividend Payable
StockDividendPayable
75000 usd
EAST Stock Dividend Payable
StockDividendPayable
75000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
673000 usd
EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
158000 usd
EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
17000 usd
EAST Payment Of Accrued Interest On Secured Credit Facilities
PaymentOfAccruedInterestOnSecuredCreditFacilities
-117000 usd
EAST Interest Accrued For Amounts Due To Related Parties
InterestAccruedForAmountsDueToRelatedParties
247000 usd
EAST Payment Of Accrued Interest On Amounts Due To Related Parties
PaymentOfAccruedInterestOnAmountsDueToRelatedParties
243000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
60000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
206000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Third Parties
IssuanceOfCommonStockInExchangeForServicesOfThirdParties
83000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Third Parties
IssuanceOfCommonStockInExchangeForServicesOfThirdParties
230000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-50000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-166000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-848000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1311000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
216000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
233000 usd
EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-497000 usd
EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-470000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
637000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
300000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-51000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
573000 usd
us-gaap Increase Decrease Due From Other Related Parties
IncreaseDecreaseDueFromOtherRelatedParties
-458000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
136000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
22000 usd
EAST Increase Decrease In Net Lease Liabilities
IncreaseDecreaseInNetLeaseLiabilities
525000 usd
EAST Increase Decrease In Net Lease Liabilities
IncreaseDecreaseInNetLeaseLiabilities
351000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-639000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
271000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
146000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
12000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
73000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2497000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
73000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2485000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
651000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
197000 usd
us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
31000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
3000000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2949000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
287000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
682000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-39000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
116000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2253000 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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
839000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1023000 usd
us-gaap Interest Paid Net
InterestPaidNet
441000 usd
us-gaap Interest Paid Net
InterestPaidNet
593000 usd
EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
687000 usd
EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
475000 usd
EAST Issuance Of Detachable Warrants On Notes Payable
IssuanceOfDetachableWarrantsOnNotesPayable
1454000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
478000 usd
EAST Exchange Of Assets For Services
ExchangeOfAssetsForServices
42000 usd
EAST Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
128000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80B_eus-gaap--NatureOfOperations_zuWfHR2BDLnd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_823_z26xhb5pyCJ">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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: 0; 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: 0; 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: 0; 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: 0; 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: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-78300000 usd
us-gaap Net Income Loss
NetIncomeLoss
-3200000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_ziSiG9LG0enj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_zQoiUxxre6Lg">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
400000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
579000 usd
EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
55852 usd
EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
100000 usd
us-gaap Excise Taxes Collected
ExciseTaxesCollected
65735 usd
us-gaap Excise Taxes Collected
ExciseTaxesCollected
200000 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
100000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_ztlYVKeCP53e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_znDLuzAFu8Nk">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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 June 30, 2023, two distributors represented <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoDistributorsMember_zrX8SQVk9RCe">27</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of trade receivables. As of December 31, 2022, one distributor represented <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorsMember_zIvQq25Fmzz6">15</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of trade receivables. Sales to one distributor and one wholesale customer accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zFNJZOuau8Yc">27</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of consolidated sales for the six months ended June 30, 2023. Sales to one distributor and one wholesale customer accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zBEgreTJGO1">49</span>% of consolidated sales for the six months ended June 30, 2022. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
EAST Interest Charged On Advance Payment Amount
InterestChargedOnAdvancePaymentAmount
500000 usd
EAST Interest Charged On Advance Rate
InterestChargedOnAdvanceRate
0.01 pure
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84C_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zNf1IHPIJEMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zemNOaUQ4PLd">Reclassification of Prior Year Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; 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: 0; 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>
CY2023Q2 EAST Sale Of Inventory
SaleOfInventory
4200000 usd
CY2023Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
2551000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3127000 usd
CY2023Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1059000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1315000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
3610000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4442000 usd
CY2023Q2 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
350000 usd
CY2022Q4 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
346000 usd
CY2023Q2 EAST Prepayment Of Inventory Current
PrepaymentOfInventoryCurrent
157000 usd
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
261000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
233000 usd
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
768000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10393000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10060000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5237000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4319000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5156000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5741000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
100000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2500000 usd
us-gaap Depreciation
Depreciation
600000 usd
us-gaap Depreciation
Depreciation
500000 usd
us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
300000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
100000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
200000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
100000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
100000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7437000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7412000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1861000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1654000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5576000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5758000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
200000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
200000 usd
CY2023Q2 EAST Other Assets Gross
OtherAssetsGross
656000 usd
CY2022Q4 EAST Other Assets Gross
OtherAssetsGross
656000 usd
CY2023Q2 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
316000 usd
CY2022Q4 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
287000 usd
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
340000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
369000 usd
CY2023Q2 EAST Net Value Of Service Write Down
NetValueOfServiceWriteDown
400000 usd
us-gaap Lessee Operating Lease Variable Lease Payment Terms And Conditions
LesseeOperatingLeaseVariableLeasePaymentTermsAndConditions
lease obligations expire at various dates through 2027
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2500000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2600000 usd
us-gaap Lease Cost
LeaseCost
700000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
700000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
2385000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
568000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
821000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
805000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
632000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
142000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2968000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067 pure
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
361000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2607000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y2M1D
CY2023Q2 us-gaap Notes Payable
NotesPayable
7749000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
7749000 usd
CY2023Q2 us-gaap Notes Payable Current
NotesPayableCurrent
7749000 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
7749000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7749000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
7749000 usd
CY2023Q2 EAST Stock Issuance Cost Percentage
StockIssuanceCostPercentage
0.05 pure
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 Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2000 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 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
38000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-2036000 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
12601000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
111000 usd
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
506000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
197000 usd
CY2022Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
37000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-1788000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
11590000 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 Cash
DividendsPreferredStockCash
38000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1598000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-3009000 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
651000 usd
CY2023Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
37000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-1643000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-4038000 usd
CY2023Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-20 reverse stock split
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2587 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
63.20
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
100 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
91.40
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2487 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.07
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2487 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
62.07
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2859 usd
CY2022Q1 us-gaap Loans Payable
LoansPayable
3500000 usd
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
24.00
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
201667 shares
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
33.40
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
201667 shares
EAST Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Ending
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermEnding
P3Y9M18D
CY2023Q2 EAST Exercise Price Minimum
ExercisePriceMinimum
33.40
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
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
500000 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
1200000 usd

Files In Submission

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0001493152-23-028492-index.html Edgar Link pending
0001493152-23-028492.txt Edgar Link pending
0001493152-23-028492-xbrl.zip Edgar Link pending
east-20230630.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
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east-20230630_cal.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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