2023 Q4 Form 10-Q Financial Statement

#000149315223041095 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $2.002M $2.983M
YoY Change -13.3% 0.2%
Cost Of Revenue $2.120M $2.471M
YoY Change -13.72% -11.34%
Gross Profit -$118.0K $512.0K
YoY Change -20.27% 169.47%
Gross Profit Margin -5.89% 17.16%
Selling, General & Admin $1.594M $1.213M
YoY Change -13.28% -43.32%
% of Gross Profit 236.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $234.0K $302.0K
YoY Change -43.75% -27.75%
% of Gross Profit 58.98%
Operating Expenses $1.594M $1.174M
YoY Change -13.28% -45.14%
Operating Profit -$1.712M -$662.0K
YoY Change -13.8% -66.05%
Interest Expense -$246.0K $207.0K
YoY Change 2.5% -74.38%
% of Operating Profit
Other Income/Expense, Net -$12.00K -$1.494M
YoY Change -83.56% 90.8%
Pretax Income -$2.138M -$2.156M
YoY Change -77.98% -21.11%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$2.175M -$2.156M
YoY Change -77.68% -21.11%
Net Earnings / Revenue -108.64% -72.28%
Basic Earnings Per Share -$2.00
Diluted Earnings Per Share -$1.38 -$2.00
COMMON SHARES
Basic Shares Outstanding 1.562M shares 1.109M shares
Diluted Shares Outstanding 1.097K shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $403.0K $358.0K
YoY Change -44.26% -17.13%
Cash & Equivalents $403.0K $358.0K
Short-Term Investments
Other Short-Term Assets $363.0K $739.0K
YoY Change -37.31% 1.93%
Inventory $3.212M $3.563M
Prepaid Expenses
Receivables $559.0K $1.089M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.537M $5.749M
YoY Change -31.47% -18.4%
LONG-TERM ASSETS
Property, Plant & Equipment $7.370M $4.995M
YoY Change 28.37% -19.02%
Goodwill
YoY Change
Intangibles $5.005M $5.473M
YoY Change -13.08% -58.89%
Long-Term Investments
YoY Change
Other Assets $516.0K $326.0K
YoY Change 39.84% -14.88%
Total Long-Term Assets $12.94M $13.03M
YoY Change -12.88% -43.05%
TOTAL ASSETS
Total Short-Term Assets $4.537M $5.749M
Total Long-Term Assets $12.94M $13.03M
Total Assets $17.48M $18.78M
YoY Change -18.61% -37.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.076M $1.958M
YoY Change 20.14% -8.68%
Accrued Expenses $1.463M $709.0K
YoY Change -3.05% -59.06%
Deferred Revenue $88.00K $53.00K
YoY Change 388.89% -14.52%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $578.0K $578.0K
YoY Change -92.81% -90.35%
Total Short-Term Liabilities $4.205M $4.017M
YoY Change -67.68% -63.31%
LONG-TERM LIABILITIES
Long-Term Debt $10.60M $10.48M
YoY Change 35.16% 33.59%
Other Long-Term Liabilities $1.824M $1.634M
YoY Change -14.77% -25.08%
Total Long-Term Liabilities $12.42M $12.11M
YoY Change 24.46% 20.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.205M $4.017M
Total Long-Term Liabilities $12.42M $12.11M
Total Liabilities $16.63M $16.13M
YoY Change -27.68% -23.1%
SHAREHOLDERS EQUITY
Retained Earnings -$82.70M -$80.50M
YoY Change 10.27% 23.28%
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 $853.0K $2.654M
YoY Change
Total Liabilities & Shareholders Equity $17.48M $18.78M
YoY Change -18.61% -37.25%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.175M -$2.156M
YoY Change -77.68% -21.11%
Depreciation, Depletion And Amortization $234.0K $302.0K
YoY Change -43.75% -27.75%
Cash From Operating Activities -$139.0K -$1.057M
YoY Change -86.48% 780.83%
INVESTING ACTIVITIES
Capital Expenditures -$5.000K $129.0K
YoY Change -350.0% 6350.0%
Acquisitions
YoY Change
Other Investing Activities $123.0K $25.00K
YoY Change -26.79%
Cash From Investing Activities $128.0K -$94.00K
YoY Change -22.89% -4800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.00K 676.0K
YoY Change -95.14% -242.92%
NET CHANGE
Cash From Operating Activities -139.0K -1.057M
Cash From Investing Activities 128.0K -94.00K
Cash From Financing Activities 56.00K 676.0K
Net Change In Cash 45.00K -475.0K
YoY Change -84.54% -19.63%
FREE CASH FLOW
Cash From Operating Activities -$139.0K -$1.057M
Capital Expenditures -$5.000K $129.0K
Free Cash Flow -$134.0K -$1.186M
YoY Change -86.99% 872.13%

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EarningsPerShareBasic
-3.59
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.59
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.93
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.76
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.76
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1097 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1097 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
772 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
772 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
929 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
929 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
761 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
761 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 EAST Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
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
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
136000 usd
CY2022Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
38000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-2733000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
8955000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-1516000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
83000 usd
CY2023Q1 EAST Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
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
StockholdersEquity
-4038000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
373000 usd
CY2023Q3 EAST Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
33000 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
649000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
7831000 usd
CY2023Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
38000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-2156000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2654000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
2654000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5397000 usd
us-gaap Net Income Loss
NetIncomeLoss
-6557000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1122000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1104000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
68000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
126000 usd
us-gaap Other Income
OtherIncome
25000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
168000 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-101000 usd
EAST Inventory Reserve
InventoryReserve
8000 usd
EAST Inventory Reserve
InventoryReserve
32000 usd
EAST Loss On Debt To Equity Conversion
LossOnDebtToEquityConversion
1321000 usd
EAST Stock Dividend Payable
StockDividendPayable
113000 usd
EAST Stock Dividend Payable
StockDividendPayable
113000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1225000 usd
EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
71000 usd
EAST Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
119000 usd
EAST Payment Of Accrued Interest On Secured Credit Facilities
PaymentOfAccruedInterestOnSecuredCreditFacilities
-142000 usd
EAST Interest Accrued For Amounts Due To Related Parties
InterestAccruedForAmountsDueToRelatedParties
363000 usd
EAST Payment Of Accrued Interest On Amounts Due To Related Parties
PaymentOfAccruedInterestOnAmountsDueToRelatedParties
348000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
93000 usd
EAST Issuance Of Common Stock In Exchange For Services Of Related Parties
IssuanceOfCommonStockInExchangeForServicesOfRelatedParties
206000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
456000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
230000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
3000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
89000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-408000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-887000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1567000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
160000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
197000 usd
EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-751000 usd
EAST Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
-721000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
469000 usd
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
881000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-661000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
899000 usd
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
556000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
35000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
62000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-778000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-602000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1697000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
151000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
175000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
12000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
199000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2495000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2483000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1300000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
197000 usd
us-gaap Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
56000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
3500000 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
275000 usd
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2933000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1001000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1356000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-512000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-365000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2844000 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
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
358000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
432000 usd
us-gaap Interest Paid Net
InterestPaidNet
1068000 usd
us-gaap Interest Paid Net
InterestPaidNet
772000 usd
EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
1031000 usd
EAST Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
705000 usd
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
6510000 usd
EAST Accrued Interest Rolled Into Note
AccruedInterestRolledIntoNote
241000 usd
EAST Exchange Of Assets For Services
ExchangeOfAssetsForServices
42000 usd
EAST Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
211000 usd
EAST Issuance Of Detachable Warrants On Notes Payable
IssuanceOfDetachableWarrantsOnNotesPayable
1590000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
527000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80C_eus-gaap--NatureOfOperations_zZfyZbW7IUa4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_829_zyJuHxWQdO23">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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 51 people in the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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 mobile filling lines and offers co-packing services with end-to-end production capabilities in Portland, Oregon.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-80500000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5400000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
300000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
200000 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zH7xj0UjNrh9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zqcwlhP0uxmb">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
100000 usd
EAST Customer Programs And Incentives Paid
CustomerProgramsAndIncentivesPaid
200000 usd
us-gaap Excise Taxes Collected
ExciseTaxesCollected
100000 usd
us-gaap Excise Taxes Collected
ExciseTaxesCollected
200000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-100000 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
8003000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
7749000 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
100000 usd
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
600000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zuulimMeWMM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zfSMODuX1X6l">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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 September 30, 2023, one distributor represented <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorMember_zvwQAVJAlUn9" title="Trade receivable percentage">7</span>% of trade receivables. As of December 31, 2022, one distributor represented <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorMember_zP5f1CMP4IL1" title="Trade receivable percentage">15</span>% of trade receivables. Sales to one wholesale customer accounted for <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneWholesaleCustomerMember_zPgn0tgQhOqe" title="Trade receivable percentage">17</span>% of consolidated sales for the nine months ended September 30, 2023. Sales to one distributor and one wholesale customer accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zwH0W4MClLOh" title="Concentration risk percentage">43</span>% of consolidated sales for the nine months ended September 30, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2630000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067 pure
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
277000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2353000 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_845_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zGJq69yuZihe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86D_zlbe1ZSkxQnh">Reclassification of Prior Year Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 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>
EAST Loss On Debt To Equity Conversion
LossOnDebtToEquityConversion
1321000 usd
EAST Sale Of Inventory
SaleOfInventory
4400000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
2424000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3127000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1139000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1315000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
3563000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4442000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y14D
CY2023Q3 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
332000 usd
CY2022Q4 EAST Prepayment Of Property Plant And Equipment
PrepaymentOfPropertyPlantAndEquipment
346000 usd
CY2023Q3 us-gaap Supplies
Supplies
157000 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
250000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
233000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
739000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
579000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10264000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10060000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5269000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4319000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4995000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5741000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
200000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2500000 usd
us-gaap Depreciation
Depreciation
800000 usd
us-gaap Depreciation
Depreciation
800000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
200000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
200000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7437000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
7412000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1964000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1654000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5473000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5758000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
300000 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
300000 usd
CY2023Q3 EAST Other Assets Gross
OtherAssetsGross
655000 usd
CY2022Q4 EAST Other Assets Gross
OtherAssetsGross
656000 usd
CY2023Q3 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
329000 usd
CY2022Q4 EAST Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
287000 usd
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
326000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
369000 usd
CY2023Q3 EAST Capitalized Costs Related To Services
CapitalizedCostsRelatedToServices
400000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2200000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2400000 usd
us-gaap Lease Cost
LeaseCost
1800000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1000000.0 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
800000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
231000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
821000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
805000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
632000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
141000 usd
CY2023Q3 us-gaap Notes Payable Current
NotesPayableCurrent
486000 usd
CY2023Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
7517000 usd
CY2022Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
7749000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
486000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7517000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
8003000 usd
CY2023Q3 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
CY2023Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-20 reverse stock split
CY2023Q3 EAST Debt Satisfaction Agreement Description
DebtSatisfactionAgreementDescription
On September 29, 2023, the Company entered into a Debt Satisfaction Agreement (the “DSA”) with the SPV, Aegis, Bigger Capital Fund, LP (“Bigger”), District 2 Capital Fund, LP (“District 2”), LDI Investments, LLC (“LDI”) and TQLA, LLC. The SPV is a special purpose vehicle whose equity is shared 50% by Bigger and District 2 and 50% by Aegis and LDI
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1300000 usd
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
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2487 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
62.07
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2487 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
62.07
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2926 usd
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 Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
33.40
CY2023Q3 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
CY2023Q3 EAST Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
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

Files In Submission

Name View Source Status
east-20230930_lab.xml Edgar Link unprocessable
east-20230930_def.xml Edgar Link unprocessable
east-20230930_pre.xml Edgar Link unprocessable
0001493152-23-041095-index-headers.html Edgar Link pending
0001493152-23-041095-index.html Edgar Link pending
0001493152-23-041095.txt Edgar Link pending
0001493152-23-041095-xbrl.zip Edgar Link pending
east-20230930.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-20230930_cal.xml Edgar Link unprocessable
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form10-q_htm.xml Edgar Link completed
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