2023 Q2 Form 10-Q Financial Statement
#000168316823003382 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $17.00M | $11.85M | $6.687M |
YoY Change | 39.98% | 77.23% | -84.91% |
Cost Of Revenue | $14.57M | $9.806M | $5.328M |
YoY Change | 38.18% | 84.06% | -85.51% |
Gross Profit | $2.440M | $2.046M | $1.359M |
YoY Change | 52.47% | 50.48% | -82.04% |
Gross Profit Margin | 14.35% | 17.26% | 20.33% |
Selling, General & Admin | $1.410M | $1.463M | $1.391M |
YoY Change | 38.78% | 5.23% | 21.99% |
% of Gross Profit | 57.79% | 71.54% | 102.31% |
Research & Development | $920.0K | $1.053M | $1.050M |
YoY Change | -16.58% | 0.24% | -12.49% |
% of Gross Profit | 37.7% | 51.46% | 77.26% |
Depreciation & Amortization | $250.0K | $11.32K | $192.9K |
YoY Change | 23.7% | -94.13% | 60.73% |
% of Gross Profit | 10.25% | 0.55% | 14.19% |
Operating Expenses | $2.330M | $2.516M | $2.441M |
YoY Change | 9.96% | 3.08% | 4.31% |
Operating Profit | $110.0K | -$470.6K | -$1.082M |
YoY Change | -121.21% | -56.49% | -120.68% |
Interest Expense | $250.0K | -$40.81K | $1.750K |
YoY Change | 279.82% | -2432.0% | |
% of Operating Profit | 227.27% | ||
Other Income/Expense, Net | $30.00K | $103.6K | $54.38K |
YoY Change | -118.49% | 90.46% | -66.01% |
Pretax Income | -$1.970M | -$367.0K | -$1.025M |
YoY Change | 241.61% | -64.21% | -119.03% |
Income Tax | -$320.0K | -$578.7K | -$238.9K |
% Of Pretax Income | |||
Net Earnings | -$1.610M | $247.6K | -$770.8K |
YoY Change | 129.07% | -132.13% | -119.56% |
Net Earnings / Revenue | -9.47% | 2.09% | -11.53% |
Basic Earnings Per Share | $0.02 | -$0.07 | |
Diluted Earnings Per Share | -$0.14 | $0.02 | -$66.48K |
COMMON SHARES | |||
Basic Shares Outstanding | 11.78M shares | 11.78M shares | 11.59M shares |
Diluted Shares Outstanding | 11.78M shares | 11.59M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $39.00M | $33.98M | $43.08M |
YoY Change | -8.48% | -21.13% | -27.84% |
Cash & Equivalents | $12.24M | $17.57M | $36.45M |
Short-Term Investments | $26.70M | $16.41M | $6.626M |
Other Short-Term Assets | $100.0K | $106.3K | $394.3K |
YoY Change | -53.65% | -73.04% | 294.32% |
Inventory | $3.742M | $5.911M | $7.652M |
Prepaid Expenses | |||
Receivables | $8.950M | $7.218M | $2.027M |
Other Receivables | $14.44K | $30.48K | $166.6K |
Total Short-Term Assets | $51.86M | $47.35M | $53.32M |
YoY Change | 7.16% | -11.21% | -28.33% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $101.1K | $109.8K | $643.8K |
YoY Change | -4.59% | -82.94% | -35.62% |
Goodwill | $273.3K | $273.3K | |
YoY Change | 0.0% | ||
Intangibles | $2.181M | $2.369M | |
YoY Change | 61.54% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $126.5K | $125.3K | $1.595M |
YoY Change | 0.36% | -92.14% | 77.17% |
Total Long-Term Assets | $5.070M | $5.012M | $3.862M |
YoY Change | 38.85% | 29.76% | 7.29% |
TOTAL ASSETS | |||
Total Short-Term Assets | $51.86M | $47.35M | $53.32M |
Total Long-Term Assets | $5.070M | $5.012M | $3.862M |
Total Assets | $56.93M | $52.36M | $57.18M |
YoY Change | 9.39% | -8.44% | -26.69% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $12.95M | $9.307M | $12.25M |
YoY Change | 59.03% | -24.04% | -56.08% |
Accrued Expenses | $849.6K | $733.4K | $905.9K |
YoY Change | 44.02% | -19.04% | -17.64% |
Deferred Revenue | $146.5K | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $16.51M | $10.45M | $13.68M |
YoY Change | 77.93% | -23.61% | -56.3% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $0.00 | $237.5K |
YoY Change | -100.0% | -100.0% | -52.51% |
Total Long-Term Liabilities | $0.00 | $0.00 | $237.5K |
YoY Change | -100.0% | -100.0% | -52.51% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $16.51M | $10.45M | $13.68M |
Total Long-Term Liabilities | $0.00 | $0.00 | $237.5K |
Total Liabilities | $16.51M | $10.45M | $15.45M |
YoY Change | 74.93% | -32.37% | -53.61% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $29.10M | $30.71M | |
YoY Change | -8.96% | ||
Common Stock | $14.26K | $14.26K | |
YoY Change | 0.71% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $38.93M | $40.38M | $41.73M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $56.93M | $52.36M | $57.18M |
YoY Change | 9.39% | -8.44% | -26.69% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.610M | $247.6K | -$770.8K |
YoY Change | 129.07% | -132.13% | -119.56% |
Depreciation, Depletion And Amortization | $250.0K | $11.32K | $192.9K |
YoY Change | 23.7% | -94.13% | 60.73% |
Cash From Operating Activities | $5.160M | $142.9K | $1.139M |
YoY Change | -4750.32% | -87.45% | -106.86% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $60.00K | $559.6K | -$62.00K |
YoY Change | -132.56% | -1002.52% | 3.33% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$10.32M | $221.6K | -$1.239M |
YoY Change | 6.28% | -117.88% | |
Cash From Investing Activities | -$10.38M | -$338.0K | -$1.301M |
YoY Change | 4.91% | -74.03% | 2068.85% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -90.00K | 0.000 | 0.000 |
YoY Change | -267.13% | -100.0% | |
NET CHANGE | |||
Cash From Operating Activities | 5.160M | 142.9K | 1.139M |
Cash From Investing Activities | -10.38M | -338.0K | -1.301M |
Cash From Financing Activities | -90.00K | 0.000 | 0.000 |
Net Change In Cash | -5.310M | -195.0K | -161.9K |
YoY Change | -46.64% | 20.47% | -99.03% |
FREE CASH FLOW | |||
Cash From Operating Activities | $5.160M | $142.9K | $1.139M |
Capital Expenditures | $60.00K | $559.6K | -$62.00K |
Free Cash Flow | $5.100M | -$416.6K | $1.201M |
YoY Change | 6854.86% | -134.68% | -107.26% |
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4039035 | usd | |
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
3493328 | usd | |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1052672 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1050180 | usd |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2999207 | usd | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3179221 | usd | |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2516105 | usd |
CY2022Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2440899 | usd |
us-gaap |
Operating Expenses
OperatingExpenses
|
7038242 | usd | |
us-gaap |
Operating Expenses
OperatingExpenses
|
6672549 | usd | |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-470595 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1081569 | usd |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2452828 | usd | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4456275 | usd | |
CY2023Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
158418 | usd |
CY2022Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
1745 | usd |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
281155 | usd | |
us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
5555 | usd | |
CY2023Q1 | FKWL |
Income Loss From Securities Other Us Government
IncomeLossFromSecuritiesOtherUSGovernment
|
7197 | usd |
CY2022Q1 | FKWL |
Income Loss From Securities Other Us Government
IncomeLossFromSecuritiesOtherUSGovernment
|
-871 | usd |
FKWL |
Income Loss From Securities Other Us Government
IncomeLossFromSecuritiesOtherUSGovernment
|
41510 | usd | |
FKWL |
Income Loss From Securities Other Us Government
IncomeLossFromSecuritiesOtherUSGovernment
|
93109 | usd | |
CY2023Q1 | FKWL |
Gain From Forgiveness Of Accounts Payable And Accrued Liabilities
GainFromForgivenessOfAccountsPayableAndAccruedLiabilities
|
25293 | usd |
CY2022Q1 | FKWL |
Gain From Forgiveness Of Accounts Payable And Accrued Liabilities
GainFromForgivenessOfAccountsPayableAndAccruedLiabilities
|
0 | usd |
FKWL |
Gain From Forgiveness Of Accounts Payable And Accrued Liabilities
GainFromForgivenessOfAccountsPayableAndAccruedLiabilities
|
190293 | usd | |
FKWL |
Gain From Forgiveness Of Accounts Payable And Accrued Liabilities
GainFromForgivenessOfAccountsPayableAndAccruedLiabilities
|
0 | usd | |
CY2023Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-199226 | usd |
CY2022Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
54540 | usd |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-75004 | usd | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
223785 | usd | |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
111888 | usd |
CY2022Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
707 | usd |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
152971 | usd | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1029 | usd | |
CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
103570 | usd |
CY2022Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
56121 | usd |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
590925 | usd | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
323478 | usd | |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-367025 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1025448 | usd |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1861903 | usd | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4132797 | usd | |
CY2023Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-578664 | usd |
CY2022Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-238852 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-563181 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1126860 | usd | |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
211639 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-786596 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-1298722 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-3005937 | usd | |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-35990 | usd |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-15778 | usd |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-41036 | usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
54083 | usd | |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
247629 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-770818 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1257686 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-3060020 | usd | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.11 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.26 | ||
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.11 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.26 | ||
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11784280 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11594280 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11720776 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11593857 | shares | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11784280 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11594280 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11720776 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11593857 | shares | |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
211639 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-786596 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-1298722 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-3005937 | usd | |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-139752 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-85973 | usd |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-65713 | usd | |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-286659 | usd | |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
71887 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-872569 | usd |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-1364435 | usd | |
us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-3292596 | usd | |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-35990 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-15778 | usd |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
-41036 | usd | |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
|
54083 | usd | |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
107877 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-856791 | usd |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1323399 | usd | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-3346679 | usd | |
CY2022Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
42602395 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-1505315 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
74039 | usd | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
134000 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
360525 | usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-5046 | usd | |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
41660598 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
247629 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-139752 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
176397 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-35990 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
41908882 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
46165164 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-2289202 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-200686 | usd | |
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
21595 | usd | |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
192465 | usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
69861 | usd | |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
43959197 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-770818 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-85973 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
181147 | usd |
CY2022Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-15778 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
43267775 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-1298722 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-3005937 | usd | |
us-gaap |
Depreciation
Depreciation
|
41341 | usd | |
us-gaap |
Depreciation
Depreciation
|
68105 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
595218 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
396535 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
536922 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
373612 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
23781 | usd | |
FKWL |
Forgiveness Of Debts
ForgivenessOfDebts
|
190293 | usd | |
FKWL |
Forgiveness Of Debts
ForgivenessOfDebts
|
-0 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
220807 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
232560 | usd | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-558631 | usd | |
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1171345 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
5886082 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-477155 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1713431 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
6676070 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
8021 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
144099 | usd | |
us-gaap |
Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
|
10363 | usd | |
us-gaap |
Increase Decrease In Prepaid Taxes
IncreaseDecreaseInPrepaidTaxes
|
102055 | usd | |
FKWL |
Increase Decrease In Loan To Employee
IncreaseDecreaseInLoanToEmployee
|
90045 | usd | |
FKWL |
Increase Decrease In Loan To Employee
IncreaseDecreaseInLoanToEmployee
|
-0 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-117436 | usd | |
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
164610 | usd | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-837 | usd | |
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-104937 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1214246 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2533695 | usd | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-5532 | usd | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-176599 | usd | |
FKWL |
Increase Decrease In Unearned Revenue From Customers
IncreaseDecreaseInUnearnedRevenueFromCustomers
|
-65202 | usd | |
FKWL |
Increase Decrease In Unearned Revenue From Customers
IncreaseDecreaseInUnearnedRevenueFromCustomers
|
361527 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-230466 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-242218 | usd | |
FKWL |
Increase Decrease In Advance Payment From Customers
IncreaseDecreaseInAdvancePaymentFromCustomers
|
2237 | usd | |
FKWL |
Increase Decrease In Advance Payment From Customers
IncreaseDecreaseInAdvancePaymentFromCustomers
|
0 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
283500 | usd | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-185376 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7044244 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7296402 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
71927 | usd | |
us-gaap |
Payments To Acquire Investments
PaymentsToAcquireInvestments
|
1240376 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
45212 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
39570 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
1601998 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
475366 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
12570 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
25172 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1731707 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1780484 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
134000 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
21595 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
134000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
21595 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-65713 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-286659 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-8707664 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-9341950 | usd | |
CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
26277418 | usd |
CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
45796006 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
17569754 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
36454056 | usd |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
-800 | usd | |
us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
-316355 | usd | |
CY2023Q1 | us-gaap |
Minority Interest
MinorityInterest
|
1528569 | usd |
us-gaap |
Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
|
41036 | usd | |
CY2022Q2 | us-gaap |
Minority Interest
MinorityInterest
|
1569605 | usd |
us-gaap |
Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
|
41036 | usd | |
us-gaap |
Gain Or Loss On Sale Of Stock In Subsidiary
GainOrLossOnSaleOfStockInSubsidiary
|
121924 | usd | |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
11851971 | usd |
CY2022Q1 | us-gaap |
Revenues
Revenues
|
6687287 | usd |
us-gaap |
Revenues
Revenues
|
28944554 | usd | |
us-gaap |
Revenues
Revenues
|
11852936 | usd | |
CY2023Q1 | FKWL |
Property And Equipment And Intangible Assets
PropertyAndEquipmentAndIntangibleAssets
|
2479229 | usd |
CY2022Q2 | FKWL |
Property And Equipment And Intangible Assets
PropertyAndEquipmentAndIntangibleAssets
|
1456008 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84F_eus-gaap--UseOfEstimates_zgFctNnxuvQf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_862_zLGVSZZ8dxW2">Use of Estimates</span> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 materially differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> | ||
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
7218350 | usd |
CY2022Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
1322619 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
168659 | usd |
CY2022Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
371624 | usd |
CY2023Q1 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
229884 | usd |
us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
564143 | usd | |
CY2022Q1 | us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
79284 | usd |
us-gaap |
Capitalized Costs Of Unproved Properties Excluded From Amortization
CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortization
|
238109 | usd | |
CY2023Q1 | us-gaap |
Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
|
196875 | usd |
CY2022Q2 | us-gaap |
Capitalized Software Development Costs For Software Sold To Customers
CapitalizedSoftwareDevelopmentCostsForSoftwareSoldToCustomers
|
187343 | usd |
CY2023Q1 | us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
555018 | usd |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
1601998 | usd | |
CY2022Q1 | us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
21677 | usd |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
475366 | usd | |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1052672 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1050180 | usd |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2999207 | usd | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3179221 | usd | |
CY2023Q1 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
557155 | usd |
FKWL |
Schedule Of Property And Equipment Estimated Useful Life
ScheduleOfPropertyAndEquipmentEstimatedUsefulLife
|
<table cellpadding="0" cellspacing="0" id="xdx_89D_ecustom--ScheduleOfPropertyAndEquipmentEstimatedUsefulLife_zm0TC2KhHJH" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details - Useful lives)"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span id="xdx_8B9_zoKqZwrAQRS2" style="display: none">Useful lives of property and equipment</span></td> <td> </td> <td style="text-align: right"> </td></tr> <tr> <td style="vertical-align: bottom; width: 47%"> </td> <td style="vertical-align: bottom; width: 1%; text-align: right"> </td> <td style="width: 52%"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Machinery</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_ecustom--PropertyPlantAndEquipmentUsefulLife1_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zKkYbtsq7FSg" title="Estimated useful lives">6 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office equipment</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_ecustom--PropertyPlantAndEquipmentUsefulLife1_dtY_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zfmF4wHztmik" title="Estimated useful lives">5 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Molds</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_ecustom--PropertyPlantAndEquipmentUsefulLife1_dtY_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ToolsDiesAndMoldsMember_zX1cO7o8RQyh" title="Estimated useful lives">3 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vehicles</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_ecustom--PropertyPlantAndEquipmentUsefulLife1_dtY_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zW5AT4GOMI35" title="Estimated useful lives">5 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Computers and software</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_ecustom--PropertyPlantAndEquipmentUsefulLife1_dtY_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zrH7P6PsEXz" title="Estimated useful lives">5 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furniture and fixtures</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_ecustom--PropertyPlantAndEquipmentUsefulLife1_dtY_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zYfcngyrsKJ" title="Estimated useful lives">7 years</span></span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Facilities improvements</span></td> <td> </td> <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_ecustom--PropertyPlantAndEquipmentUsefulLife2_c20220701__20230331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FacilityClosingMember_zKNtdNTUzqN9" title="Estimated useful lives">5 years or life of the lease, whichever is shorter</span></span></td></tr> </table> | ||
CY2023Q1 | FKWL |
Income Tax Benefit
IncomeTaxBenefit
|
578664 | usd |
FKWL |
Income Tax Benefit
IncomeTaxBenefit
|
563181 | usd | |
CY2022Q1 | FKWL |
Income Tax Benefit
IncomeTaxBenefit
|
238852 | usd |
FKWL |
Income Tax Benefit
IncomeTaxBenefit
|
1126860 | usd | |
CY2023Q1 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
573314 | usd |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
558631 | usd | |
CY2022Q1 | us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
238852 | usd |
us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
1171345 | usd | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zP55u3QckAC3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86D_zESyNbGe2H44">Concentrations</span> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We extend credit to our customers and perform ongoing credit evaluations of such customers. We evaluate our accounts receivable on a regular basis for collectability and provide for an allowance for potential credit losses as deemed necessary. No reserve was required or recorded for any of the periods presented.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Substantially all of our revenues are derived from sales of wireless data products. Any significant decline in market acceptance of our products or in the financial condition of our existing customers could impair our ability to operate effectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A significant portion of our revenue is derived from a small number of customers. For the nine months ended March 31, 2023, sales to our two largest customers accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9rN4apTT5El" title="Concentration of credit risk">64</span>% and <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230331__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z0VmITEkLXCd" title="Concentration of credit risk">27</span>% of our consolidated net sales, and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpKQhm734mW8" title="Concentration of credit risk">0</span>% and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230331__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z87uAMUPM735" title="Concentration of credit risk">85</span>% of our accounts receivable balance as of March 31, 2023. In the same period of 2022, sales to our two largest customers accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zwId4M8DMx39" title="Concentration of credit risk">49</span>% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220331__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zdfSoxUKzyRd" title="Concentration of credit risk">26</span>% of our consolidated net sales, and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaffhwkzkmxc" title="Concentration of credit risk">45</span>% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220331__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zlDxDm17RIH" title="Concentration of credit risk">0</span>% of our accounts receivable balance as of March 31, 2022.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the nine months ended March 31, 2023, we purchased the majority of our wireless data products from three manufacturing companies located in Asia. If these manufacturing companies were to experience delays, capacity constraints or quality control problems, product shipments to our customers could be delayed, or our customers could consequently elect to cancel the underlying product purchase order, which would negatively impact the Company's revenue. For the nine months ended March 31, 2023, we purchased wireless data products from these manufacturers in the amount of $<span id="xdx_905_eus-gaap--CostOfRevenue_c20220701__20230331__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_pp0p0" title="Cost of Revenue">25,347,466</span>, or <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20220701__20230331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_z4qfAabHhGq8" title="Concentration of credit risk">99</span>% of total purchases and had related accounts payable of $<span id="xdx_905_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20230331__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_znwT04636CQ7" title="Accounts Payable, Current">9,001,053</span> as of March 31, 2023. In the same period of 2022, we purchased wireless data products from two manufacturers in the amount of $<span id="xdx_904_eus-gaap--CostOfRevenue_pp0p0_c20210701__20220331__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_zY2sjfvox6we" title="Cost of Revenue">15,758,962</span>, or <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20210701__20220331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsProductLineMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_zrql31LbuJr3" title="Concentration of credit risk">99</span>% of total purchases and had related accounts payable of $<span id="xdx_90E_eus-gaap--AccountsPayableCurrent_iI_pp0p0_c20220331__us-gaap--NatureOfExpenseAxis__custom--WirelessDataProductsMember_zTYidloNaYB5" title="Accounts Payable, Current">11,664,549</span> as of March 31, 2022. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain our cash accounts with established commercial banks. Such cash deposits exceed the Federal Deposit Insurance Corporation insured limit of $250,000 for each financial institution. However, we do not anticipate any losses on excess deposits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> | ||
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
642016 | usd |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p id="xdx_805_eus-gaap--BasisOfAccounting_zZkHXpDfsx0a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 3 –<span id="xdx_820_zyuo2KkFnkjk"> BASIS OF PRESENTATION</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The accompanying unaudited consolidated financial statements of Franklin Wireless Corp. have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and are presented in accordance with the requirements of Form 10-Q. In the opinion of management, the financial statements included herein contain all adjustments, including normal recurring adjustments, considered necessary to present fairly the financial position, the results of operations and comprehensive income (loss) and cash flows of the Company for the periods presented. These financial statements and notes hereto should be read in conjunction with the financial statements and notes thereto for the fiscal year ended June 30, 2022 included in our Form 10-K filed on September 13, 2022. The operating results or cash flows for the interim periods presented herein are not necessarily indicative of the results to be expected for any other interim period or the full year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> | ||
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
4409357 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2039951 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2369406 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
2794789 | usd |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1444733 | usd |
CY2022Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1350056 | usd |
CY2023Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
234325 | usd |
CY2022Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
170406 | usd |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
595218 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
396535 | usd | |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
255366 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
929184 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
709018 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
249392 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
11131 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
18440 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
751839 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
971698 | usd |
CY2022Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
865746 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
109823 | usd |
CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
105952 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
11316 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
22465 | usd |
us-gaap |
Depreciation
Depreciation
|
41341 | usd | |
us-gaap |
Depreciation
Depreciation
|
68105 | usd | |
us-gaap |
Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
|
265071 | usd | |
us-gaap |
Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
|
4174 | usd | |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
48162 | usd |
CY2022Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
55387 | usd |
CY2023Q1 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
250000 | usd |
CY2022Q2 | us-gaap |
Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
|
0 | usd |
CY2023Q1 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
153335 | usd |
CY2022Q2 | us-gaap |
Accrued Vacation Current
AccruedVacationCurrent
|
65602 | usd |
CY2023Q1 | FKWL |
Accrued Undelivered Inventory
AccruedUndeliveredInventory
|
0 | usd |
CY2022Q2 | FKWL |
Accrued Undelivered Inventory
AccruedUndeliveredInventory
|
140000 | usd |
CY2023Q1 | us-gaap |
Accrued Sales Commission Current
AccruedSalesCommissionCurrent
|
33750 | usd |
CY2022Q2 | us-gaap |
Accrued Sales Commission Current
AccruedSalesCommissionCurrent
|
40000 | usd |
CY2023Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
248160 | usd |
CY2022Q2 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
288306 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
0 | usd |
CY2022Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
612 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
733407 | usd |
CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
589907 | usd |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
649001 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
861001 | shares | |
CY2023Q1 | us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
247629 | usd |
CY2022Q1 | us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-770818 | usd |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-1257686 | usd | |
us-gaap |
Income Loss Attributable To Parent
IncomeLossAttributableToParent
|
-3060020 | usd | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11784280 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11594280 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11720776 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
11593857 | shares | |
CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares |
CY2022Q1 | us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares | |
us-gaap |
Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
|
0 | shares | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11784280 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11594280 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11720776 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
11593857 | shares | |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.11 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.26 | ||
CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2022Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.11 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.26 | ||
CY2015Q3 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
23115 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
2106 | usd |
CY2022Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
2150 | usd |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
6057 | usd | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
6562 | usd | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
80483 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
160965 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
241448 | usd |
CY2023Q1 | FKWL |
Operating Leases Future Minimum Payments Interest Included In Payments
OperatingLeasesFutureMinimumPaymentsInterestIncludedInPayments
|
-3976 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
237472 | usd |
CY2020Q3 | us-gaap |
Shares Issued
SharesIssued
|
800000 | shares |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
536922 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
373612 | usd | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
649001 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.35 | ||
CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
724837 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
861001 | shares |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.92 | ||
CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
1503518 | usd |