2024 Q2 Form 10-Q Financial Statement

#000149315224020509 Filed on May 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $8.188M $11.27M $6.952M
YoY Change 274.57% 72.62% 41.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.474M $4.146M $2.441M
YoY Change 91.85% 62.78% 4.09%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $317.0K
YoY Change -50.0% 19.17%
% of Gross Profit
Operating Expenses $13.93M $14.58M $7.162M
YoY Change 172.6% 181.53% 50.05%
Operating Profit -$6.053M -$5.932M
YoY Change -2.47% 43.67%
Interest Expense $225.0K
YoY Change -91.6%
% of Operating Profit
Other Income/Expense, Net -$96.00K $1.795M
YoY Change 4.35% 5509.38%
Pretax Income -$6.149M -$4.137M -$210.0K
YoY Change 110.37% -406.44% -257.89%
Income Tax -$74.00K $116.0K
% Of Pretax Income
Net Earnings -$5.925M -$4.445M -$657.0K
YoY Change 102.7% -429.26% 109.24%
Net Earnings / Revenue -72.36% -39.45% -9.45%
Basic Earnings Per Share -$0.22 -$0.27
Diluted Earnings Per Share -$0.22 -$0.27 -$0.06
COMMON SHARES
Basic Shares Outstanding 28.37M shares 28.37M shares 10.56M shares
Diluted Shares Outstanding 28.52K shares 16.74K shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $5.850M $7.209M $2.396M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.548M $4.446M $4.079M
Prepaid Expenses
Receivables $4.243M $6.285M $6.477M
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.118M $4.286M $12.22M
YoY Change 6395.83% 8142.31% 21721.43%
Goodwill $881.0K $903.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments $38.49M $23.95M $23.53M
YoY Change 49.32% -12.84% -8.36%
Other Assets $21.57M
YoY Change 132.72%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $98.40M $110.3M $65.74M
YoY Change 102.62% 120.54% 32.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $206.0K
YoY Change -71.51%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.614M $4.592M $4.732M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $206.0K
YoY Change -71.51%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $90.00K $93.00K $546.0K
YoY Change -22.41% -51.05% 142.67%
Total Long-Term Liabilities $90.00K $93.00K $546.0K
YoY Change -22.41% -51.05% 142.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $206.0K
Total Long-Term Liabilities $90.00K $93.00K $546.0K
Total Liabilities $37.97M $43.68M $23.24M
YoY Change 228.47% 290.06% 90.84%
SHAREHOLDERS EQUITY
Retained Earnings -$8.390M -$2.161M -$33.15M
YoY Change -77.73% -93.7% -5.56%
Common Stock $29.00K $28.00K $10.00K
YoY Change 190.0% 211.11% 11.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $18.59M
YoY Change
Treasury Stock Shares
Shareholders Equity $58.74M $64.80M $42.49M
YoY Change
Total Liabilities & Shareholders Equity $98.40M $110.3M $65.74M
YoY Change 102.62% 120.54% 32.87%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$5.925M -$4.445M -$657.0K
YoY Change 102.7% -429.26% 109.24%
Depreciation, Depletion And Amortization $100.0K $317.0K
YoY Change -50.0% 19.17%
Cash From Operating Activities -$1.030M
YoY Change -237.33%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $1.800M
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $2.234M
YoY Change 143.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$634.0K
YoY Change 69.97%
NET CHANGE
Cash From Operating Activities -$1.030M
Cash From Investing Activities $2.234M
Cash From Financing Activities -$634.0K
Net Change In Cash $565.0K
YoY Change -56.34%
FREE CASH FLOW
Cash From Operating Activities -$1.030M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-77000 usd
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4938000 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4066000 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
37007000 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-4445000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-493000 usd
CY2024Q1 FGF Stock Issued During Period Value Preferred And Common Stock Outstanding At Merger Date
StockIssuedDuringPeriodValuePreferredAndCommonStockOutstandingAtMergerDate
37952000 usd
CY2024Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
-3695000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
20000 usd
CY2024Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.25
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
AdjustmentsToAdditionalPaidInCapitalDividendsInExcessOfRetainedEarnings
-69000 usd
CY2024Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
327000 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
66604000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
46698000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
46698000 usd
CY2023Q1 FGF Cumulative Effect Of Adoption Of Accounting Principle
CumulativeEffectOfAdoptionOfAccountingPrinciple
-24000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-3989000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-77000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
127000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
42735000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
42735000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-4253000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3798000 usd
CY2024Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2706000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-2891000 usd
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-844000 usd
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-651000 usd
CY2024Q1 FGF Gain On Acquisition Of Assets
GainOnAcquisitionOfAssets
23000 usd
CY2024Q1 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
134000 usd
CY2024Q1 FGF Recovery Of Doubtful Accounts
RecoveryOfDoubtfulAccounts
-18000 usd
CY2023Q1 FGF Recovery Of Doubtful Accounts
RecoveryOfDoubtfulAccounts
18000 usd
CY2024Q1 FGF Benefit From Provision For Obsolete Inventory
BenefitFromProvisionForObsoleteInventory
14000 usd
CY2023Q1 FGF Benefit From Provision For Obsolete Inventory
BenefitFromProvisionForObsoleteInventory
14000 usd
CY2024Q1 FGF Provision For Warranty
ProvisionForWarranty
10000 usd
CY2023Q1 FGF Provision For Warranty
ProvisionForWarranty
44000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
317000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
266000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
210000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
29000 usd
CY2024Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1423000 usd
CY2024Q1 FGF Gain On Merger
GainOnMerger
1831000 usd
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-443000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
327000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
127000 usd
CY2024Q1 us-gaap Increase Decrease In Insurance Settlements Receivable
IncreaseDecreaseInInsuranceSettlementsReceivable
-1301000 usd
CY2024Q1 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
50000 usd
CY2024Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-56000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2000 usd
CY2024Q1 us-gaap Increase Decrease In Liability For Claims And Claims Adjustment Expense Reserve
IncreaseDecreaseInLiabilityForClaimsAndClaimsAdjustmentExpenseReserve
-13000 usd
CY2024Q1 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-1509000 usd
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-527000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-612000 usd
CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
419000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
284000 usd
CY2024Q1 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
91000 usd
CY2023Q1 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-186000 usd
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-550000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-505000 usd
CY2024Q1 FGF Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
547000 usd
CY2023Q1 FGF Increase Decrease In Deferred Revenue And Customer Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerDeposits
615000 usd
CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-154000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-32000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-538000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-15000 usd
CY2024Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-492000 usd
CY2023Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-513000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1030000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-528000 usd
CY2024Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
22000 usd
CY2023Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
75000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
353000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Equity Securities Fv Ni
ProceedsFromSaleOfEquitySecuritiesFvNi
198000 usd
CY2024Q1 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
1903000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
2234000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
123000 usd
CY2023Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-83000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2234000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
40000 usd
CY2024Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
447000 usd
CY2024Q1 FGF Principal Payments On Shortterm Debt
PrincipalPaymentsOnShorttermDebt
85000 usd
CY2023Q1 FGF Principal Payments On Shortterm Debt
PrincipalPaymentsOnShorttermDebt
250000 usd
CY2024Q1 us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-111000 usd
CY2023Q1 us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-51000 usd
CY2024Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2839000 usd
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1596000 usd
CY2024Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
2765000 usd
CY2023Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
225000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-65000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-28000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-634000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
1042000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-634000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1042000 usd
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-5000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
1057000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Continuing Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations
1156000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectDisposalGroupIncludingDiscontinuedOperations
-492000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect Disposal Group Including Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectDisposalGroupIncludingDiscontinuedOperations
-596000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
565000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
560000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6644000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3789000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7209000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4349000 usd
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_802_eus-gaap--NatureOfOperations_z5xNGBRWVsP1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1. <span id="xdx_828_z7q7nqxgA5r4">Nature of Business</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fundamental Global Inc. (“Fundamental Global”, the “Company”, “we”, or “us”), formerly known as FG Financial Group, Inc. (“FGF”), is engaged in diverse business activities including reinsurance, asset management, merchant banking, manufacturing and managed services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 3, 2024, FGF and FG Group Holdings, Inc. (“FGH”) signed a definitive plan of merger to combine the companies in an all-stock transaction (the “Merger”). Under the plan of the Merger, FGH common stockholders received one share of FGF common stock for each share of common stock of FGH held by such stockholder. Upon completion of the Merger on February 29, 2024, the combined company was renamed to Fundamental Global and the common stock and Series A cumulative preferred stock of the combined company would continue to trade on the Nasdaq under the tickers “FGF” and “FGFPP,” respectively. See Note 3 Merger of FGF and FGH.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024, Fundamental Global GP, LLC (“FG”) and its affiliated entities collectively beneficially owned approximately <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20240331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--FundamentalGlobalGPLLCMember_zKdRrxITCXf" title="Ownership percentage">28.3</span>% of our common stock. D. Kyle Cerminara, our Chief Executive Officer and the Chairman of our Board of Directors, serves as Chief Executive Officer, Co-Founder and Partner of FG.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Business Segments</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company conducts business through its three reportable segments including reinsurance, asset management, which included merchant banking services, and Strong Global Entertainment which includes manufacturing and managed services to cinemas and entertainment venues. The operating segments are determined based on the business activities, and reflect the manner in which financial information is currently evaluated by management.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Reinsurance</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s wholly owned reinsurance subsidiary, FGRe, a Cayman Islands limited liability company, provides specialty property and casualty reinsurance. FGRe has been granted a Class B (iii) insurer license in accordance with the terms of The Insurance Act (as revised) of the Cayman Islands and underlying regulations thereto and is subject to regulation by the Cayman Islands Monetary Authority (the “Authority”). The terms of the license require advance approval from the Authority should FGRe wish to enter into any reinsurance agreements which are not fully collateralized.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2024, the Company had <span id="xdx_90F_ecustom--NumberOfActiveReinsuranceContracts_iI_dc_uInteger_c20240331_zU4T4iHbDeue" title="Number of active reinsurance contracts">eight</span> active reinsurance contracts, including participating in a Funds at Lloyds (“FAL”) syndicate covering risks written by the syndicate during the 2021, 2022 and 2023 calendar years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Asset Management</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FG Strategic Consulting, LLC, (“FGSC”) a wholly-owned subsidiary of the Company, provides investment advisory services, including identifying, analyzing and recommending potential investments, advising as to existing investments and investment optimization, recommending investment dispositions, and providing advice regarding macro-economic conditions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On December 21, 2020, we formed FG Management Solutions LLC (“FGMS”), formerly known as FG SPAC Solutions, LLC, a Delaware company, to facilitate the launch of our “SPAC Platform.” Under the SPAC Platform, we provide various strategic, administrative, and regulatory support services to newly formed SPACs for a monthly fee. Additionally, the Company co-founded a partnership, FG Merchant Partners, LP (“FGMP”), formerly known as FG SPAC Partners, LP, to participate as a co-sponsor for newly formed SPACs.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the third quarter of 2022, the Company announced the expansion of its growth strategy through the formation of a merchant banking division.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the fourth quarter of 2022, the Company invested $<span id="xdx_907_eus-gaap--Investments_iI_pn5n6_c20221231__dei--LegalEntityAxis__custom--FGCommunitiesIncMember_zxMdjezPcIg8" title="Investments">2.0</span> million into its first merchant banking project, FG Communities, Inc. (“FGC”). FGC is a self-managed real estate company focused on a growing portfolio of manufactured housing communities which are owned and operated by FGC.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Strong Global Entertainment</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strong Global Entertainment, Inc. (“Strong Global Entertainment”) is a leader in the entertainment industry providing mission critical products and services to cinema exhibitors and entertainment venues for over 90 years. The Company is a holding company and conducts business through its wholly-owned operating subsidiaries: Strong/MDI Screen Systems, Inc. (“Strong/MDI”) is a leading premium screen and projection coatings supplier in the world, and Strong Technical Services, Inc. (“STS”) provides comprehensive managed service offerings with 24/7/365 support nationwide to ensure solution uptime and availability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On May 15, 2023, Strong Global Entertainment completed an initial public offering (“IPO”) of its Class A Voting Common Shares without par value (“Common Shares”). The IPO closed on May 18, 2023 and Strong Global Entertainment completed its separation from Fundamental Global, formerly FG Group Holdings, Inc. Following this transaction, Strong Global Entertainment became a separate publicly listed company, and FG Group Holdings holds approximately <span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrongGlobalEntertainmentMember_zfd49Chtmjhg" title="Common shares percentage">76</span>% of the Class A common shares and <span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_uPure_c20240331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--StrongGlobalEntertainmentMember_zoST8tD17Gu3" title="Common shares percentage">100</span>% of the Class B common shares as of March 31, 2024. As the Company continues to be the majority shareholder of Strong Global Entertainment, the financial results of Strong Global Entertainment are presented on a consolidated basis in the Company’s condensed consolidated financial statements. The Company reports the noncontrolling interest in Strong Global Entertainment as a component of equity separate from the Company’s equity. The Company’s net loss excludes the net loss attributable to the noncontrolling interest. Strong Global Entertainment’s Common Shares are listed on the NYSE American under the ticker symbol “SGE.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company owned and operated its Digital Ignition technology incubator and co-working facility in Alpharetta, Georgia. During the first quarter of 2024, the Company’s board authorized the sale of Digital Ignition and on April 16, 2024, the Company completed the sale of the Digital Ignition building and wholly owned subsidiary for proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates_pn5n6_c20240101__20240331_zQ7cUkYiVoKb" title="Proceeds from sale of subsidiary">6.5</span> million. Subsequent to March 31, 2024, the Company received approximately $<span id="xdx_903_eus-gaap--ProceedsFromSaleOfProductiveAssets_pn5n6_c20240401__20240630__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zKSxSdDO9plf" title="Cash proceeds from sale">1.3</span> million in cash, after payment of closing costs and repayment of debt at closing. In connection with the sale of the land and building, the Company recorded a non-cash impairment charge of approximately $<span id="xdx_902_eus-gaap--AssetImpairmentCharges_pn5n6_c20240101__20240331_z4hSPFrrN57" title="Non-cash imairment charge">1.4</span> million during the three months ended March 31, 2024 to adjust the carrying value of the assets to the fair market value less costs to sell.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 FGF Number Of Active Reinsurance Contracts
NumberOfActiveReinsuranceContracts
8 integer
CY2024Q1 us-gaap Proceeds From Divestiture Of Interest In Subsidiaries And Affiliates
ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
6500000 usd
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1400000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zoXArDMPVBO3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_862_zErM9ssUNxlk">Use of Management Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity 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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results and changes in facts and circumstances may alter such estimates and affect results of operations and financial position in future periods. Estimates and their underlying assumptions are reviewed on an ongoing basis. Changes in estimates are recorded in the accounting period in which they are determined.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 FGF Variable Interest Entity Non Consolidation Gain Or Loss
VariableInterestEntityNonConsolidationGainOrLoss
17200000 usd
CY2023 FGF Variable Interest Entity Non Consolidation Gain Or Loss
VariableInterestEntityNonConsolidationGainOrLoss
16600000 usd
CY2024Q1 us-gaap Investment Interest Rate
InvestmentInterestRate
0.20 pure
CY2024Q1 us-gaap Cash
Cash
200000 usd
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zN0Vs3XHzkEe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_860_zdQsQVrOoGr1">Concentration of Credit Risk</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 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-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments which potentially expose the Company to concentrations of credit risk include investments, cash, accounts receivable and deposits with reinsured companies. The Company maintains its cash with a major U.S. domestic banking institution which is insured by the Federal Deposit Insurance Corporation (“FDIC”) for up to $<span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_c20240331_ztzY71g8mw23" title="Cash FDIC insured amount">250,000</span>. As of March 31, 2024, the Company held funds in excess of these FDIC insured amounts. The terms of these deposits are on demand to mitigate some of the associated risk. The Company has not incurred losses related to these deposits. The Company sells its products to a large number of customers in many different geographic regions. To minimize credit risk related to accounts receivable, the Company performs ongoing credit evaluations of its customers’ financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s top ten customers accounted for approximately <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TenCustomersMember_zvq28byhun9i" title="Customer revenue percentage">50</span>% of consolidated products and services revenues during the three months ended March 31, 2024. Trade accounts receivable from these customers represented approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zjrjUxWRNAvk" title="Customer revenue percentage">56</span>% of net consolidated receivables at March 31, 2024. One of the Company’s customers accounted for more than <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerMember_zQrkCj6VtUdk" title="Customer revenue percentage">10</span>% of both its consolidated net revenues during the three months ended March 31, 2024 and its net consolidated receivables as of March 31, 2024. While the Company believes its relationships with such customers are stable, most arrangements are made by purchase order and are terminable at will by either party. A significant decrease or interruption in business from the Company’s significant customers could have a material adverse effect on the Company’s business, financial condition and results of operations. The Company could also be adversely affected by such factors as changes in foreign currency rates and weak economic and political conditions in each of the countries in which the Company sells its products and offers its services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
100000 usd
CY2023Q1 us-gaap Other Investments
OtherInvestments
200000 usd
CY2024Q1 us-gaap Securities Purchased Under Agreements To Resell Amount Offset Against Collateral
SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral
8000000.0 usd
CY2023Q4 us-gaap Securities Purchased Under Agreements To Resell Amount Offset Against Collateral
SecuritiesPurchasedUnderAgreementsToResellAmountOffsetAgainstCollateral
8000000.0 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
17400000 usd
CY2024Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
15600000 usd
CY2024Q1 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
1800000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
1903000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deferred Policy Aquisition Cost
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredPolicyAquisitionCost
1764000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Reinsurance Balances Receivable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedReinsuranceBalancesReceivable
19011000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Marketable Securities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsMarketableSecurities
28769000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
300000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Funds Deposited With Reinsured Companies
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFundsDepositedWithReinsuredCompanies
8055000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Right Of Use Asset
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedRightOfUseAsset
36000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
27000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
884000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
60749000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
1133000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loss And Loss Adjustment Expense Reserves
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLossAndLossAdjustmentExpenseReserves
9036000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Unearned Premium Reserves
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedUnearnedPremiumReserves
10744000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation
36000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
20949000 usd
CY2024Q1 FGF Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Series A Preferred Shares
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedSeriesAPreferredShares
22365000 usd
CY2024Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
17435000 usd
CY2024Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1800000 usd
CY2024Q1 FGF Business Acquisitions Revenue
BusinessAcquisitionsRevenue
324000 usd
CY2024Q1 FGF Business Acquisitions Net Income Loss
BusinessAcquisitionsNetIncomeLoss
-1026000 usd
CY2024Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
8518000 usd
CY2023Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
13094000 usd
CY2024Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-6429000 usd
CY2023Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-2639000 usd
CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
12898000 usd
CY2024Q1 FGF Equity Method Promissory Note
EquityMethodPromissoryNote
450000 usd
CY2024Q1 us-gaap Cash Including Discontinued Operations
CashIncludingDiscontinuedOperations
600000 usd
CY2024Q1 us-gaap Disposal Group Including Discontinued Operation Cash
DisposalGroupIncludingDiscontinuedOperationCash
0 usd
CY2023Q2 us-gaap Discontinued Operation Intra Entity Amounts Discontinued Operation After Disposal Revenue
DiscontinuedOperationIntraEntityAmountsDiscontinuedOperationAfterDisposalRevenue
0 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
27000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
7000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Intangible Assets Current
DisposalGroupIncludingDiscontinuedOperationIntangibleAssetsCurrent
906000 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
940000 usd
CY2024Q1 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilitiesCurrent
90000 usd
CY2023Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilitiesCurrent
1321000 usd
CY2024Q1 FGF Disposal Group Including Discontinued Operation Longterm Debt Net Of Current Portion
DisposalGroupIncludingDiscontinuedOperationLongtermDebtNetOfCurrentPortion
71000 usd
CY2023Q4 FGF Disposal Group Including Discontinued Operation Longterm Debt Net Of Current Portion
DisposalGroupIncludingDiscontinuedOperationLongtermDebtNetOfCurrentPortion
71000 usd
CY2024Q1 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
161000 usd
CY2023Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
1392000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
9763000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
148000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
439000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
9472000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
8679000 usd
CY2023 us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
1873000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
10552000 usd
CY2024Q1 us-gaap Equity Method Investments
EquityMethodInvestments
23947000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
4571000 usd
CY2024Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
15217000 usd
CY2024Q1 us-gaap Reinsurance Recoverable Allowance For Credit Loss Recovery
ReinsuranceRecoverableAllowanceForCreditLossRecovery
10000 usd
CY2024Q1 FGF Reinsurance Loss On Uncollectible Accounts Paid In Period Amount
ReinsuranceLossOnUncollectibleAccountsPaidInPeriodAmount
-327000 usd
CY2024Q1 us-gaap Reinsurance Recoverable Allowance For Credit Loss Period Increase Decrease
ReinsuranceRecoverableAllowanceForCreditLossPeriodIncreaseDecrease
-52000 usd
CY2024Q1 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
9023000 usd
CY2024Q1 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
39614000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni And Without Readily Determinable Fair Value
EquitySecuritiesFvNiAndWithoutReadilyDeterminableFairValue
17469000 usd
CY2023Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
250000 usd
CY2023Q3 us-gaap Common Stock Convertible Conversion Price Increase
CommonStockConvertibleConversionPriceIncrease
5.00
CY2024Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
250000 usd
CY2023Q1 us-gaap Unsecured Debt
UnsecuredDebt
200000 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.13 pure
CY2023Q1 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2024-03-15
CY2023Q1 us-gaap Line Of Credit Facility Periodic Payment
LineOfCreditFacilityPeriodicPayment
200000 usd
CY2024Q1 us-gaap Debt Instrument Issued Principal
DebtInstrumentIssuedPrincipal
200000 usd
CY2024Q1 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
15000 usd
CY2024Q1 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
141000 usd
CY2024Q1 FGF Change In Unrealized Holding On Common Stock
ChangeInUnrealizedHoldingOnCommonStock
-2706000 usd
CY2024Q1 FGF Equity Method Earnings
EquityMethodEarnings
-844000 usd
CY2024Q1 us-gaap Other Income
OtherIncome
10000 usd
CY2024Q1 us-gaap Investment Income Net
InvestmentIncomeNet
-3399000 usd
CY2024Q1 us-gaap Equity Fair Value Disclosure
EquityFairValueDisclosure
9922000 usd
CY2023Q4 us-gaap Equity Fair Value Disclosure
EquityFairValueDisclosure
10552000 usd
CY2024Q1 us-gaap Unsecured Debt
UnsecuredDebt
200000 usd
CY2024Q1 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<p id="xdx_896_eus-gaap--ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense_zoPW5qByXJsa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of changes in outstanding loss and loss adjustment expense reserves for the quarter ended March 31, 2024 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B4_zIYnqG6j4WNk" style="display: none">Schedule of Changes in Outstanding Loss Adjustment Expense Reserves</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td>(in thousands)</td><td> </td> <td colspan="2" id="xdx_499_20240101__20240331_za8VpcZmJKhh" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--ReinsuranceRecoverables_iS_pn3n3_zMh31J3rYCXc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance, beginning of period, net of reinsurance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">9,036</p></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Incurred related to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--ReinsuranceLossOnUncollectibleAccountsInPeriodAmount_pn3n3_zaIfsgawrbe8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Current year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">356</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--ReinsuranceRecoverableAllowanceForCreditLossRecovery_pn3n3_zwoHtcADAJF2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Paid related to:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--ReinsuranceLossOnUncollectibleAccountsPaidInPeriodAmount_pn3n3_zQGo01i1WUU4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(327</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--ReinsuranceRecoverableAllowanceForCreditLossPeriodIncreaseDecrease_pn3n3_z7IU0avgqVZ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Prior years</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(52</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--ReinsuranceRecoverables_iE_pn3n3_zckrVkVg32cc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance, March 31, 2024, net of reinsurance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,023</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2023Q4 us-gaap Reinsurance Recoverables
ReinsuranceRecoverables
9036000 usd
CY2024Q1 us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
356000 usd
CY2024Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
4592000 usd
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
4732000 usd
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1975000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2021000 usd
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
387000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
443000 usd
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2084000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1615000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
4446000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
4079000 usd
CY2024Q1 us-gaap Inventory Adjustments
InventoryAdjustments
400000 usd
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
400000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
384000 usd
CY2024Q1 us-gaap Inventory Write Down
InventoryWriteDown
-4000 usd
CY2024Q1 FGF Benefit From Inventory Reserve
BenefitFromInventoryReserve
14000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
394000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9475000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18024000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5189000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5804000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4286000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12220000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
200000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
200000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5384000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5497000 usd
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
300000 shares
CY2023Q1 FGF Employee Stock Purchase Plan Addition Description
EmployeeStockPurchasePlanAdditionDescription
the board of directors approved an employee purchase plan (“ESPP Plan”) whereby qualifying employees can choose each year to have up to 5% of their annual base earnings withheld to purchase the Company’s common shares in the open market. The Company matches 100% of the employee’s contribution amount after thirty days of employment
CY2024Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
300000 usd
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
100000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1500000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-4253000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3798000 usd
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-17000 usd
CY2024Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
69000 usd
CY2024Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-4305000 usd
CY2023Q1 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Basic
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersBasic
-3798000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16744 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16744 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9422 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9422 shares
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.26
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.26
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.42
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.42
CY2024Q1 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4592000 usd
CY2023Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
4748000 usd
CY2023Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
16000 usd
CY2024Q1 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
15000 usd
CY2023Q4 us-gaap Accumulated Amortization Of Noncurrent Deferred Finance Costs
AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts
36000 usd
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.091 pure
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.059 pure
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
176000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
278000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
5369000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
5461000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
344000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
448000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
245000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4347000 usd
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5384000 usd
CY2024Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
300000 usd
CY2024Q1 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
100000 usd
CY2024Q1 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
200000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
69000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
33000 usd
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
35000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
13000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
79000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
36000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
17000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
17000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
200000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
99000 usd
CY2024Q1 FGF Finance Leases Payments
FinanceLeasesPayments
58000 usd
CY2023Q1 FGF Finance Leases Payments
FinanceLeasesPayments
13000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
35000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
32000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
65000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
26000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
151000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
619000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
81000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
487000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
8000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
421000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1394000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
24000 usd
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
176000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
397000 usd
CY2024Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1218000 usd
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3 segment
CY2024Q1 us-gaap Premiums Earned Net
PremiumsEarnedNet
775000 usd
CY2024Q1 us-gaap Net Investment Income
NetInvestmentIncome
-3399000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8643000 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4137000 usd
CY2023Q1 us-gaap Net Investment Income
NetInvestmentIncome
-3542000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6567000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4097000 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-4097000 usd
CY2024Q1 us-gaap Assets
Assets
110279000 usd
CY2024Q1 us-gaap Revenues
Revenues
11267000 usd
CY2023Q1 us-gaap Revenues
Revenues
10109000 usd
CY2024Q1 FGF Schedule Disaggregate Revenue By The Timing Of Transfer Of Goods Or Services
ScheduleDisaggregateRevenueByTheTimingOfTransferOfGoodsOrServices
<p id="xdx_89E_ecustom--ScheduleDisaggregateRevenueByTheTimingOfTransferOfGoodsOrServices_ztrkbu0RVuCj" 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">The following tables disaggregate the Company’s revenue by the timing of transfer of goods or services to the customer for the three months March 31, 2024 and March 31, 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><span id="xdx_8BD_zzRgxRxGwyDc" style="display: none">Schedule Disaggregate Revenue by the Timing of Transfer of Goods or Services</span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_490_20240101__20240331__us-gaap--StatementBusinessSegmentsAxis__custom--StrongGlobalEntertainmentMember_zleqGnzemKhk" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Strong Entertainment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_493_20240101__20240331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zMLDjXD1JmE6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20240101__20240331_zjRJ5W6wFNAb" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_499_20230101__20230331__us-gaap--StatementBusinessSegmentsAxis__custom--StrongGlobalEntertainmentMember_zdoxRNfxtLE9" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Strong Entertainment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49B_20230101__20230331__us-gaap--StatementBusinessSegmentsAxis__us-gaap--AllOtherSegmentsMember_zUgQ3qyqcEU7" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" id="xdx_49C_20230101__20230331_zeUzk8VVNL7d" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1.5pt">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended <br/>March 31, 2024</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="10" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Three Months Ended <br/>March 31, 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Strong Entertainment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Strong Entertainment</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Other</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--Revenues_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zigPHpQZkMwk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; text-align: left">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">9,473</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,475</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">8,430</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="width: 7%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,444</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Revenues_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zk72I87Ef4Ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt">Over time</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,597</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">195</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,792</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,521</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">144</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,665</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Revenues_pn3n3_zkxKwfPyPnA8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,070</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">197</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,267</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,951</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">158</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td> <td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,109</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2024Q1 us-gaap Revenues
Revenues
11267000 usd
CY2023Q1 us-gaap Revenues
Revenues
10109000 usd
CY2024Q1 FGF Deferred Revenue Unearned Revenue Recognized
DeferredRevenueUnearnedRevenueRecognized
400000 usd
CY2024Q1 us-gaap Deferred Income Revenue Recognized
DeferredIncomeRevenueRecognized
400000 usd
CY2024Q1 us-gaap Revenues
Revenues
11267000 usd
CY2023Q1 us-gaap Revenues
Revenues
10109000 usd
CY2024Q1 us-gaap Revenues
Revenues
11267000 usd
CY2023Q1 us-gaap Revenues
Revenues
10109000 usd

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