$FSI
FLEXIBLE SOLUTIONS INTERNATIONAL INC

2020 Q4 Form 10-Q Financial Statement

#000149315220021300 Filed on November 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $7.155M $8.113M $7.403M
YoY Change 49.24% 9.58% 93.98%
Cost Of Revenue $5.275M $5.598M $5.024M
YoY Change 51.53% 11.41% 75.72%
Gross Profit $1.880M $2.515M $2.379M
YoY Change 43.15% 5.72% 148.5%
Gross Profit Margin 26.28% 31.01% 32.14%
Selling, General & Admin $1.542M $1.268M $1.440M
YoY Change 10.22% -11.93% 39.96%
% of Gross Profit 82.02% 50.43% 60.53%
Research & Development $17.11K $15.55K
YoY Change 10.05% -52.44%
% of Gross Profit 0.68% 0.65%
Depreciation & Amortization $406.1K $156.1K $156.5K
YoY Change 157.32% -0.25% 158.39%
% of Gross Profit 21.6% 6.21% 6.58%
Operating Expenses $1.566M $1.348M $1.560M
YoY Change 7.88% -13.59% 34.91%
Operating Profit $313.9K $1.168M $819.4K
YoY Change -326.64% 42.48% -512.32%
Interest Expense $140.6K $43.87K $94.32K
YoY Change -256.69% -53.49% 1119.38%
% of Operating Profit 44.8% 3.76% 11.51%
Other Income/Expense, Net
YoY Change
Pretax Income $587.9K $1.312M $915.8K
YoY Change -360.2% 43.24% -600.88%
Income Tax $542.6K $370.2K $213.8K
% Of Pretax Income 92.29% 28.22% 23.34%
Net Earnings -$2.860K $582.4K $412.0K
YoY Change -100.55% 41.34% -383.25%
Net Earnings / Revenue -0.04% 7.18% 5.57%
Basic Earnings Per Share
Diluted Earnings Per Share -$233.60 $33.56K
COMMON SHARES
Basic Shares Outstanding 12.24M shares 12.24M shares 12.11M shares
Diluted Shares Outstanding 12.31M shares 12.28M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.473M $6.241M $6.001M
YoY Change -4.45% 3.99% -30.17%
Cash & Equivalents $3.473M $6.241M $6.001M
Short-Term Investments
Other Short-Term Assets $1.302M $344.0K $356.7K
YoY Change 495.71% -3.56% 79.28%
Inventory $8.372M $6.942M $8.550M
Prepaid Expenses $302.4K $344.0K $356.7K
Receivables $5.890M $5.787M $4.620M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.04M $19.31M $19.53M
YoY Change 8.75% -1.1% 16.23%
LONG-TERM ASSETS
Property, Plant & Equipment $5.142M $4.507M $3.656M
YoY Change 28.37% 23.3% 104.55%
Goodwill $2.534M $2.534M $2.534M
YoY Change 0.0% 0.0%
Intangibles $2.776M $2.820M $2.996M
YoY Change -5.96% -5.87%
Long-Term Investments $4.776M $3.018M $1.940M
YoY Change 149.33% 55.56%
Other Assets $299.6K $1.583M $1.907M
YoY Change -88.48% -16.97% 85.44%
Total Long-Term Assets $16.05M $15.07M $13.98M
YoY Change 7.9% 7.75% 381.7%
TOTAL ASSETS
Total Short-Term Assets $19.04M $19.31M $19.53M
Total Long-Term Assets $16.05M $15.07M $13.98M
Total Assets $35.09M $34.38M $33.51M
YoY Change 8.36% 2.59% 70.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $558.1K $750.2K $971.2K
YoY Change -12.28% -22.75%
Accrued Expenses $1.226M $334.0K $830.9K
YoY Change 576.37% -59.81%
Deferred Revenue
YoY Change
Short-Term Debt $2.116M $1.640M $1.841M
YoY Change -11.46% -10.9% 636.44%
Long-Term Debt Due $848.8K $958.6K $621.6K
YoY Change -29.07% 54.23% 208.93%
Total Short-Term Liabilities $7.891M $6.690M $6.868M
YoY Change 16.16% -2.6% 217.59%
LONG-TERM LIABILITIES
Long-Term Debt $2.999M $2.606M $3.914M
YoY Change -5.81% -33.43%
Other Long-Term Liabilities $195.2K $192.1K $466.5K
YoY Change -49.1% -58.81%
Total Long-Term Liabilities $2.999M $2.606M $3.914M
YoY Change -5.81% -33.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.891M $6.690M $6.868M
Total Long-Term Liabilities $2.999M $2.606M $3.914M
Total Liabilities $11.32M $10.55M $12.61M
YoY Change -5.03% -16.38% 483.2%
SHAREHOLDERS EQUITY
Retained Earnings $5.433M $5.436M $2.861M
YoY Change 121.21% 90.01% -9.05%
Common Stock $12.26K $12.24K $12.19K
YoY Change 0.37% 0.42% 4.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.21M $21.03M $18.04M
YoY Change
Total Liabilities & Shareholders Equity $35.09M $34.38M $33.51M
YoY Change 8.36% 2.59% 70.08%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$2.860K $582.4K $412.0K
YoY Change -100.55% 41.34% -383.25%
Depreciation, Depletion And Amortization $406.1K $156.1K $156.5K
YoY Change 157.32% -0.25% 158.39%
Cash From Operating Activities $151.1K $2.409M $1.877M
YoY Change -109.04% 28.33% -208.2%
INVESTING ACTIVITIES
Capital Expenditures -$244.6K -$265.4K -$79.61K
YoY Change -43.66% 233.35% 549.35%
Acquisitions
YoY Change
Other Investing Activities -$1.646M $113.0K -$331.4K
YoY Change -601.27% -134.09% 1620.61%
Cash From Investing Activities -$1.890M -$152.4K -$411.0K
YoY Change 1686.95% -62.91% 1809.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.12K -836.7K -735.8K
YoY Change -93.36% 13.71% 1249.06%
NET CHANGE
Cash From Operating Activities 151.1K 2.409M 1.877M
Cash From Investing Activities -1.890M -152.4K -411.0K
Cash From Financing Activities -49.12K -836.7K -735.8K
Net Change In Cash -1.788M 1.420M 730.4K
YoY Change -28.94% 94.4% -140.33%
FREE CASH FLOW
Cash From Operating Activities $151.1K $2.409M $1.877M
Capital Expenditures -$244.6K -$265.4K -$79.61K
Free Cash Flow $395.7K $2.674M $1.957M
YoY Change -131.97% 36.67% -213.59%

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CY2019Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2020Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2019Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2020Q1 us-gaap Stock Issued During Period Value New Issues
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
30055 usd
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29108 usd
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
61638 usd
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29582 usd
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
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CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
333965 usd
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
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CY2020Q3 us-gaap Accounts Payable Current
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CY2020Q3 FSI Distribution To Noncontrolling Interests
DistributionToNoncontrollingInterests
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CY2019Q3 FSI Distribution To Noncontrolling Interests
DistributionToNoncontrollingInterests
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CY2020Q2 FSI Distribution To Noncontrolling Interests
DistributionToNoncontrollingInterests
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CY2019Q2 FSI Distribution To Noncontrolling Interests
DistributionToNoncontrollingInterests
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CY2020Q1 FSI Distribution To Noncontrolling Interests
DistributionToNoncontrollingInterests
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CY2019Q1 FSI Cumulative Effect On Retained Earnings Net Of Tax
CumulativeEffectOnRetainedEarningsNetOfTax
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CY2019Q2 FSI Cumulative Effect On Retained Earnings Net Of Tax
CumulativeEffectOnRetainedEarningsNetOfTax
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FSI Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
22071 usd
FSI Proceeds From Disposal Of Long Term Deposits
ProceedsFromDisposalOfLongTermDeposits
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CY2019Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
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CY2020Q3 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
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us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Increase Decrease In Deferred Income Taxes
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us-gaap Increase Decrease In Deferred Income Taxes
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CY2019Q3 FSI Consulting Expenses
ConsultingExpenses
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FSI Consulting Expenses
ConsultingExpenses
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FSI Consulting Expenses
ConsultingExpenses
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CY2020Q3 us-gaap Professional Fees
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us-gaap Gain Loss On Sale Of Equity Investments
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us-gaap Gain Loss On Sale Of Equity Investments
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Proceeds From Bank Debt
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us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
1100000 usd
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CY2018Q4 us-gaap Restricted Cash Current
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CY2020Q3 us-gaap Cash
Cash
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CY2019Q3 us-gaap Cash
Cash
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CY2020Q3 us-gaap Short Term Investments
ShortTermInvestments
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CY2019Q3 us-gaap Short Term Investments
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us-gaap Payments Of Capital Distribution
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us-gaap Payments Of Capital Distribution
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CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
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CY2020Q3 us-gaap Gross Profit
GrossProfit
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CY2019Q3 us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
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us-gaap Gross Profit
GrossProfit
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CY2020Q3 us-gaap Salaries And Wages
SalariesAndWages
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CY2019Q3 us-gaap Salaries And Wages
SalariesAndWages
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us-gaap Salaries And Wages
SalariesAndWages
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us-gaap Salaries And Wages
SalariesAndWages
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CY2020Q3 us-gaap Officers Compensation
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CY2019Q3 us-gaap Officers Compensation
OfficersCompensation
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us-gaap Officers Compensation
OfficersCompensation
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us-gaap Officers Compensation
OfficersCompensation
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SellingAndMarketingExpense
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CY2019Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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CY2020Q3 FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
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CY2019Q3 FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
17314 usd
FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
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FSI Investor Relations And Transfer Agent Fee
InvestorRelationsAndTransferAgentFee
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OtherGeneralExpense
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CY2019Q3 us-gaap Other General Expense
OtherGeneralExpense
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us-gaap Other General Expense
OtherGeneralExpense
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OtherGeneralExpense
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CY2020Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
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CY2019Q3 us-gaap General Insurance Expense
GeneralInsuranceExpense
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FSI Stock Option Granted
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ProfessionalFees
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us-gaap Professional Fees
ProfessionalFees
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us-gaap Professional Fees
ProfessionalFees
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us-gaap General Insurance Expense
GeneralInsuranceExpense
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us-gaap General Insurance Expense
GeneralInsuranceExpense
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CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
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us-gaap Operating Lease Expense
OperatingLeaseExpense
350592 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
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CommunicationsAndInformationTechnology
32556 usd
us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
33307 usd
CY2020Q3 FSI Shipping Cost
ShippingCost
2246 usd
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2020Q3 FSI Consulting Expenses
ConsultingExpenses
63700 usd
CY2020Q3 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
19552 usd
CY2019Q3 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
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us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
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us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
250105 usd
CY2020Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
10174 usd
CY2019Q3 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
11006 usd
CY2019Q3 FSI Shipping Cost
ShippingCost
5155 usd
FSI Shipping Cost
ShippingCost
9595 usd
FSI Shipping Cost
ShippingCost
13643 usd
CY2020Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17114 usd
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15551 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
57290 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2020Q3 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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CY2019Q3 us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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us-gaap Sales Commissions And Fees
SalesCommissionsAndFees
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CY2020Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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ForeignCurrencyTransactionGainLossBeforeTax
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ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2020Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
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CY2019Q3 us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
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us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
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us-gaap Utilities Operating Expense
UtilitiesOperatingExpense
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CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2020Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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CY2019Q3 us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
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CY2020Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
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CY2019Q3 us-gaap Gain Loss On Investments
GainLossOnInvestments
82734 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
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us-gaap Gain Loss On Investments
GainLossOnInvestments
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CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
13583 usd
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2020Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2019Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.03
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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FSI Stock Option Granted
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40000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12239633 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12306432 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12277789 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12300732 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
56670 usd
CY2019Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
2024569 usd
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
289983 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2020Q3 us-gaap Provision For Doubtful Accounts
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CY2019Q3 us-gaap Provision For Doubtful Accounts
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Provision For Doubtful Accounts
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CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1311803 usd
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
915802 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4603086 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2540561 usd
CY2020Q3 us-gaap Deposit Assets
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FSI Operating Lease Right Of Use Asset Depreciation
OperatingLeaseRightOfUseAssetDepreciation
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CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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FSI Lease Interest Expense
LeaseInterestExpense
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CY2019Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
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CY2020Q3 us-gaap Accounts Receivable Gross
AccountsReceivableGross
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2019Q4 us-gaap Inventory Finished Goods
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CY2020Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2019Q4 us-gaap Inventory Work In Process
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CY2020Q3 us-gaap Inventory Work In Process
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CY2019Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
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CY2020Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
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us-gaap Depreciation
Depreciation
433259 usd
us-gaap Depreciation
Depreciation
450119 usd
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6428849 usd
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
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us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12329 usd
us-gaap Amortization Of Intangible Assets
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12329 usd
CY2019Q4 us-gaap Finite Lived Patents Gross
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CY2020Q3 us-gaap Finite Lived Patents Gross
FiniteLivedPatentsGross
198747 usd
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
157526 usd
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
164500 usd
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46576 usd
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
34247 usd
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
16438 usd
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16438 usd
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13700 usd
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
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CY2018Q4 us-gaap Long Term Debt
LongTermDebt
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CY2020Q3 us-gaap Long Term Debt
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CY2019 us-gaap Proceeds From Loans
ProceedsFromLoans
1100000 usd
us-gaap Proceeds From Loans
ProceedsFromLoans
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CY2019 us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
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us-gaap Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
1353956 usd
CY2019Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
200000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
1.00 pure
us-gaap Stock Option Plan Expense
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us-gaap Stock Option Plan Expense
StockOptionPlanExpense
29244 usd
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
347000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
224330 usd
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
635000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
660000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
600000 shares
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
56112 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
10000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
343000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.31
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.35
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.36
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.99
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.41
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.85
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.15
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.99
CY2020Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
2.52
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0193 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4389 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.0959
CY2019Q2 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.075
CY2019Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.075
CY2019Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.15
us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 segments
CY2019Q4 us-gaap Noncurrent Assets
NoncurrentAssets
10327732 usd
CY2020Q3 us-gaap Noncurrent Assets
NoncurrentAssets
10458477 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
242399 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">q) <i>Risk Management.</i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s credit risk is primarily attributable to its accounts receivable. The amounts presented in the accompanying consolidated balance sheets are net of allowances for doubtful accounts, estimated by the Company&#8217;s management based on prior experience and the current economic environment. The Company is exposed to credit-related losses in the event of non-payment by customers. Credit exposure is minimized by dealing with only credit worthy counterparties. Accounts receivable for the Company&#8217;s three primary customers totaled $3,088,120 (53%) at September 30, 2020 (December 31, 2019 - $2,707,825 or 61%).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The credit risk on cash and cash equivalents is limited because the Company limits its exposure to credit loss by placing its cash and cash equivalents with major financial institutions. The Company maintains cash balances at financial institutions which at times exceed federally insured amounts. The Company has not experienced any material losses in such accounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company is exposed to foreign exchange and interest rate risk to the extent that market value rate fluctuations materially differ from financial assets and liabilities, subject to fixed long-term rates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In order to manage its exposure to foreign exchange risks, the Company is closely monitoring the fluctuations in the foreign currency exchange rates and the impact on the value of cash and cash equivalents, accounts receivable, and accounts payable and accrued liabilities. The Company has not hedged its exposure to currency fluctuations.</p>
us-gaap Equity Method Investment Description Of Principal Activities
EquityMethodInvestmentDescriptionOfPrincipalActivities
Significant influence is generally deemed to exist if the Company's ownership interest in the voting stock of the investee ranges between 20% and 50%, although other factors, such as representation on the investee's board of directors, are considered in determining whether the equity method of accounting is appropriate.
CY2020Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055 pure
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">(l) <i>Use of Estimates</i>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of 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 could differ from those estimates and would impact the results of operations and cash flows.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Estimates and underlying assumptions are reviewed at each period end. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.45pt">Significant areas requiring the use of management estimates include assumptions and estimates relating to the valuation of goodwill and intangible assets, asset impairment analysis, share-based payments and warrants, valuation allowances for deferred income tax assets, determination of useful lives of property, the discount rate of the right of use asset, equipment, leaseholds, intangible assets, and the valuation of inventory.</p>
CY2020Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
12240545 shares
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020

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