2024 Q3 Form 10-Q Financial Statement
#000149315224032215 Filed on August 14, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
Revenue | $760.0K | $2.952M |
YoY Change | -74.52% | 10.94% |
Cost Of Revenue | $560.0K | $2.799M |
YoY Change | -77.34% | 6.22% |
Gross Profit | $200.0K | $153.0K |
YoY Change | -60.94% | 488.46% |
Gross Profit Margin | 26.32% | 5.18% |
Selling, General & Admin | $653.0K | $1.414M |
YoY Change | -46.17% | -9.53% |
% of Gross Profit | 326.5% | 924.18% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | -$529.0K | $322.0K |
YoY Change | -275.17% | -21.46% |
% of Gross Profit | -264.5% | 210.46% |
Operating Expenses | $652.0K | $1.335M |
YoY Change | -44.46% | -6.51% |
Operating Profit | -$452.0K | -$1.182M |
YoY Change | -31.72% | -15.69% |
Interest Expense | -$409.0K | -$308.0K |
YoY Change | -297.58% | -194.48% |
% of Operating Profit | ||
Other Income/Expense, Net | -$376.0K | -$306.0K |
YoY Change | -74.83% | 26.97% |
Pretax Income | -$828.0K | -$1.488M |
YoY Change | -61.6% | -9.43% |
Income Tax | ||
% Of Pretax Income | ||
Net Earnings | -$1.359M | -$1.488M |
YoY Change | -36.97% | -9.43% |
Net Earnings / Revenue | -178.82% | -50.41% |
Basic Earnings Per Share | -$0.66 | -$0.87 |
Diluted Earnings Per Share | -$0.66 | -$0.87 |
COMMON SHARES | ||
Basic Shares Outstanding | 1.763M shares | 1.706M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $310.0K | $420.0K |
YoY Change | -13.41% | -49.94% |
Cash & Equivalents | $310.0K | $420.0K |
Short-Term Investments | ||
Other Short-Term Assets | $2.816M | $467.0K |
YoY Change | 281.06% | -39.19% |
Inventory | $1.793M | $3.043M |
Prepaid Expenses | ||
Receivables | $105.0K | $1.017M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $5.024M | $4.947M |
YoY Change | -12.61% | -19.47% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $112.0K | $4.282M |
YoY Change | -97.76% | -16.95% |
Goodwill | ||
YoY Change | ||
Intangibles | $4.178M | $4.798M |
YoY Change | -23.66% | -13.95% |
Long-Term Investments | ||
YoY Change | ||
Other Assets | $182.0K | $422.0K |
YoY Change | -44.17% | 24.12% |
Total Long-Term Assets | $11.20M | $11.64M |
YoY Change | -14.05% | -14.17% |
TOTAL ASSETS | ||
Total Short-Term Assets | $5.024M | $4.947M |
Total Long-Term Assets | $11.20M | $11.64M |
Total Assets | $16.22M | $16.59M |
YoY Change | -13.61% | -15.82% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.388M | $2.916M |
YoY Change | -29.11% | 23.4% |
Accrued Expenses | $418.0K | $742.0K |
YoY Change | -41.04% | -49.9% |
Deferred Revenue | $51.00K | |
YoY Change | -66.88% | |
Short-Term Debt | $4.175M | $4.258M |
YoY Change | 751.6% | |
Long-Term Debt Due | $8.247M | $8.209M |
YoY Change | 1326.82% | -48.42% |
Total Short-Term Liabilities | $17.63M | $17.17M |
YoY Change | 338.83% | -21.75% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $0.00 |
YoY Change | -100.0% | |
Other Long-Term Liabilities | $1.056M | $1.355M |
YoY Change | -35.37% | -24.89% |
Total Long-Term Liabilities | $1.056M | $1.355M |
YoY Change | -91.28% | -24.89% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $17.63M | $17.17M |
Total Long-Term Liabilities | $1.056M | $1.355M |
Total Liabilities | $18.68M | $18.52M |
YoY Change | 15.86% | -21.99% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$87.00M | -$85.60M |
YoY Change | 8.07% | 9.32% |
Common Stock | $0.00 | $0.00 |
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | -$2.460M | -$1.934M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $16.22M | $16.59M |
YoY Change | -13.61% | -15.82% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$1.359M | -$1.488M |
YoY Change | -36.97% | -9.43% |
Depreciation, Depletion And Amortization | -$529.0K | $322.0K |
YoY Change | -275.17% | -21.46% |
Cash From Operating Activities | -$466.0K | -$1.056M |
YoY Change | -55.91% | 400.47% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $2.000K | |
YoY Change | -95.56% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $17.00K | $83.00K |
YoY Change | -32.0% | -43.15% |
Cash From Investing Activities | $19.00K | $81.00K |
YoY Change | -120.21% | -19.8% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 434.0K | 1.059M |
YoY Change | -35.8% | 55.28% |
NET CHANGE | ||
Cash From Operating Activities | -466.0K | -1.056M |
Cash From Investing Activities | 19.00K | 81.00K |
Cash From Financing Activities | 434.0K | 1.059M |
Net Change In Cash | -13.00K | 84.00K |
YoY Change | -97.26% | -85.31% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$466.0K | -$1.056M |
Capital Expenditures | $2.000K | |
Free Cash Flow | -$1.058M | |
YoY Change | 313.28% |
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-2642000 | usd | |
CY2024Q2 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
308000 | usd |
CY2023Q2 | us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
326000 | usd |
us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
556000 | usd | |
us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
655000 | usd | |
CY2024Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2000 | usd |
CY2023Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
85000 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
7000 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
56000 | usd | |
CY2024Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-306000 | usd |
CY2023Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-241000 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-549000 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-599000 | usd | |
CY2024Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1488000 | usd |
CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1643000 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-2781000 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-3241000 | usd | |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1488000 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1643000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2781000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3241000 | usd | |
CY2024Q2 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
37000 | usd |
CY2023Q2 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
37000 | usd |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
75000 | usd | |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
75000 | usd | |
CY2024Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1525000 | usd |
CY2023Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1680000 | usd |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-2856000 | usd | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-3316000 | usd | |
CY2024Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.87 | |
CY2023Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.96 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.65 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.94 | ||
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1745 | shares |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
856 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1726 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
841 | shares | |
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 |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
853000 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
2000 | usd |
CY2024Q1 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
38000 | usd |
CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1293000 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-476000 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-476000 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
2000 | usd |
CY2024Q2 | EAST |
Stock Issued During Period Value Issued For Services One
StockIssuedDuringPeriodValueIssuedForServicesOne
|
65000 | usd |
CY2024Q2 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
37000 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1488000 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1934000 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1934000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2781000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3241000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
628000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
817000 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-5000 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
9000 | usd | |
us-gaap |
Other Income
OtherIncome
|
25000 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
199000 | usd | |
us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
129000 | usd | |
EAST |
Inventory Reserve
InventoryReserve
|
16000 | usd | |
EAST |
Inventory Reserve
InventoryReserve
|
17000 | usd | |
EAST |
Stock Dividend Payable
StockDividendPayable
|
75000 | usd | |
EAST |
Stock Dividend Payable
StockDividendPayable
|
75000 | usd | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
97000 | usd | |
EAST |
Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
|
-18000 | usd | |
EAST |
Interest Accrued To Secured Trade Credit Facility
InterestAccruedToSecuredTradeCreditFacility
|
-158000 | usd | |
EAST |
Interest Accrued To Notes Payable
InterestAccruedToNotesPayable
|
-319000 | usd | |
EAST |
Payment Of Accrued Interest On Secured Credit Facilities
PaymentOfAccruedInterestOnSecuredCreditFacilities
|
-117000 | usd | |
EAST |
Interest Accrued To Secured Credit Facilities Related Party
InterestAccruedToSecuredCreditFacilitiesRelatedParty
|
-122000 | usd | |
EAST |
Interest Accrued To Secured Credit Facilities Related Party
InterestAccruedToSecuredCreditFacilitiesRelatedParty
|
-247000 | usd | |
EAST |
Payment Of Accrued Interest On Secured Credit Facilities Related Party
PaymentOfAccruedInterestOnSecuredCreditFacilitiesRelatedParty
|
81000 | usd | |
EAST |
Payment Of Accrued Interest On Secured Credit Facilities Related Party
PaymentOfAccruedInterestOnSecuredCreditFacilitiesRelatedParty
|
243000 | usd | |
EAST |
Issuance Of Common Stock For Services By Third Parties
IssuanceOfCommonStockForServicesByThirdParties
|
-4000 | usd | |
EAST |
Issuance Of Common Stock For Services By Third Parties
IssuanceOfCommonStockForServicesByThirdParties
|
-83000 | usd | |
EAST |
Issuance Of Common Stock For Services By Employees
IssuanceOfCommonStockForServicesByEmployees
|
-65000 | usd | |
EAST |
Issuance Of Common Stock For Services By Employees
IssuanceOfCommonStockForServicesByEmployees
|
-60000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
453000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-50000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-185000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-848000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-210000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
216000 | usd | |
EAST |
Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
|
-462000 | usd | |
EAST |
Increase Decrease In Rou Assets
IncreaseDecreaseInROUAssets
|
-497000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
600000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
637000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
167000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-51000 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
81000 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
458000 | usd | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-37000 | usd | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
136000 | usd | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-448000 | usd | |
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-525000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1137000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-639000 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
97000 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
146000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
73000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
95000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
73000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
651000 | usd | |
us-gaap |
Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
|
1100000 | usd | |
us-gaap |
Proceeds From Secured Lines Of Credit
ProceedsFromSecuredLinesOfCredit
|
31000 | usd | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
41000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1059000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
682000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
17000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
116000 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
403000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
723000 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
420000 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
839000 | usd |
us-gaap |
Interest Paid Net
InterestPaidNet
|
81000 | usd | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
441000 | usd | |
EAST |
Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
|
249000 | usd | |
EAST |
Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
|
687000 | usd | |
EAST |
Exchange Of Assets For Services
ExchangeOfAssetsForServices
|
42000 | usd | |
EAST |
Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
|
396000 | usd | |
EAST |
Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
|
128000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_807_eus-gaap--NatureOfOperations_zId8ZW9yP2Hb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_827_zAB08D3cN4B5">Description of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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; 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: 0pt 0pt 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 0pt 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 0pt 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 0pt 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 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2024Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-85600000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2800000 | usd | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_zU7GqBx8dPR2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zYoBb1Oz5fP8">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 0pt 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
|
100000 | usd | |
us-gaap |
Excise Taxes Collected
ExciseTaxesCollected
|
100000 | usd | |
us-gaap |
Excise Taxes Collected
ExciseTaxesCollected
|
100000 | usd | |
us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
44482 | usd | |
us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
100000 | usd | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_843_eus-gaap--ConcentrationRiskCreditRisk_zZ6nc5FnkpKb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86C_zkFJa4goOdgf">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 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 June 30, 2024, one customer represented <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_ztHbUqVqCmy7" title="Trade receivable percentage">10</span>% of trade receivables. As of December 31, 2023, one distributor represented <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorMember_zCoDGFzVPri9" title="Trade receivable percentage">1</span>% of trade receivables. Sales to one distributor accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorMember_zaDw48HZj1V3" title="Trade receivable percentage">16</span>% of consolidated sales for the six months ended June 30, 2024. Sales to one distributor and one wholesale customer accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneDistributorAndOneWholesaleCustomerMember_zR2hNvB5LKff" title="Concentration risk percentage">27</span>% of consolidated sales for the six months ended June 30, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
EAST |
Interest Charged On Advance Payment Amount
InterestChargedOnAdvancePaymentAmount
|
500000 | usd | |
EAST |
Interest Charged On Advance Rate
InterestChargedOnAdvanceRate
|
0.01 | pure | |
CY2024Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2034000 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2253000 | usd |
CY2024Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
1009000 | usd |
CY2023Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
959000 | usd |
CY2024Q2 | us-gaap |
Inventory Net
InventoryNet
|
3043000 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
3212000 | usd |
CY2024Q2 | EAST |
Prepayment Of Inventory
PrepaymentOfInventory
|
51000 | usd |
CY2023Q4 | EAST |
Prepayment Of Inventory
PrepaymentOfInventory
|
52000 | usd |
CY2024Q2 | EAST |
Future Proceeds Related To Installment Sale Of Equipment
FutureProceedsRelatedToInstallmentSaleOfEquipment
|
233000 | usd |
CY2023Q4 | EAST |
Future Proceeds Related To Installment Sale Of Equipment
FutureProceedsRelatedToInstallmentSaleOfEquipment
|
89000 | usd |
CY2024Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
183000 | usd |
CY2023Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
222000 | usd |
CY2024Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
467000 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
363000 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
8962000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
9439000 | usd |
CY2024Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4680000 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4671000 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4282000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4768000 | usd |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2200 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
100000 | usd | |
us-gaap |
Depreciation
Depreciation
|
400000 | usd | |
us-gaap |
Depreciation
Depreciation
|
600000 | usd | |
us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
100000 | usd | |
EAST |
Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
|
400000 | usd | |
us-gaap |
Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
|
100000 | usd | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
200000 | usd | |
us-gaap |
Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
|
300000 | usd | |
EAST |
Future Proceeds Related To Installment Sales Of Equipment
FutureProceedsRelatedToInstallmentSalesOfEquipment
|
100000 | usd | |
us-gaap |
Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
|
200000 | usd | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
100000 | usd | |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
7073000 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
7073000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2275000 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2068000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
4798000 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
5005000 | usd |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
200000 | usd | |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
200000 | usd | |
CY2023 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
400000 | usd |
us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | usd | |
CY2024Q2 | EAST |
Other Assets Gross
OtherAssetsGross
|
793000 | usd |
CY2023Q4 | EAST |
Other Assets Gross
OtherAssetsGross
|
912000 | usd |
CY2024Q2 | EAST |
Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
|
371000 | usd |
CY2023Q4 | EAST |
Accumulated Amortization On Other Assets
AccumulatedAmortizationOnOtherAssets
|
344000 | usd |
CY2024Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
422000 | usd |
CY2023Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
568000 | usd |
CY2024Q2 | EAST |
Capitalized Costs Related To Services
CapitalizedCostsRelatedToServices
|
400000 | usd |
us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
27500 | usd | |
us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
28571 | usd | |
CY2024Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
2100000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2300000 | usd |
us-gaap |
Lease Cost
LeaseCost
|
400000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
500000 | usd | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
100000 | usd | |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
499000 | usd |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1020000 | usd |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
808000 | usd |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
135000 | usd |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2462000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.066 | pure |
CY2024Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
198000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2264000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y3M29D | |
CY2024Q2 | us-gaap |
Notes Payable
NotesPayable
|
8117000 | usd |
CY2023Q4 | us-gaap |
Notes Payable
NotesPayable
|
8042000 | usd |
CY2024Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
8117000 | usd |
CY2023Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
486000 | usd |
CY2023Q4 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
7556000 | usd |
CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
|
486000 | usd |
CY2024Q2 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
7631000 | usd |
CY2024Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
8117000 | usd |
CY2024Q2 | EAST |
Stock Issuance Cost Percentage
StockIssuanceCostPercentage
|
0.05 | pure |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares | |
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, District 2, 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. | |
CY2023 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
1300000 | usd |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2120 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
57.95 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2120 | shares |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
57.95 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
|
201667 | shares |
CY2023 | EAST |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Remaining Contractual Term Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageRemainingContractualTermBeginning
|
P3Y4M24D | |
CY2023Q4 | EAST |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
|
34.87 | |
CY2024Q2 | 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
|
P3Y4M24D | ||
CY2024Q2 | EAST |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
|
34.87 | |
CY2023Q1 | EAST |
Assets Requirement From Related Party Transaction
AssetsRequirementFromRelatedPartyTransaction
|
100000 | usd |
CY2023Q1 | EAST |
Percentage Of Average Of Assets Net
PercentageOfAverageOfAssetsNet
|
0.01 | pure |
CY2023Q1 | us-gaap |
Other Assets
OtherAssets
|
200000 | usd |