$GUER
Guerrilla RF Inc

2021 Q4 Form 10-K Financial Statement

#000143774922007905 Filed on April 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $10.48M $10.48M
YoY Change 29.55%
Cost Of Revenue $4.340M $4.340M
YoY Change 49.09%
Gross Profit $6.140M $6.140M
YoY Change 18.56%
Gross Profit Margin 58.58% 58.58%
Selling, General & Admin $5.172M $5.216M
YoY Change 66.71%
% of Gross Profit 84.24% 84.96%
Research & Development $4.593M $4.593M
YoY Change 27.89%
% of Gross Profit 74.81% 74.81%
Depreciation & Amortization $371.4K $371.4K
YoY Change 39.31%
% of Gross Profit 6.05% 6.05%
Operating Expenses $9.765M $9.809M
YoY Change 45.97%
Operating Profit -$3.625M -$3.670M
YoY Change 137.98%
Interest Expense -$551.5K $551.5K
YoY Change 17.42%
% of Operating Profit
Other Income/Expense, Net $1.384M $1.384M
YoY Change
Pretax Income -$2.793M -$2.837M
YoY Change 15714.72%
Income Tax
% Of Pretax Income
Net Earnings -$2.793M -$2.800M
YoY Change 39.18%
Net Earnings / Revenue -26.65% -26.72%
Basic Earnings Per Share -$0.24
Diluted Earnings Per Share -$84.06K -$85.40K
COMMON SHARES
Basic Shares Outstanding 11.70M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.314M $5.314M
YoY Change 55485.67%
Cash & Equivalents $5.314M $5.314M $427.3K
Short-Term Investments
Other Short-Term Assets $1.187M $1.187M
YoY Change
Inventory $1.439M $1.439M $993.6K
Prepaid Expenses $1.187M $100.4K
Receivables $1.667M $1.667M $1.654M
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.607M $9.607M $3.175M
YoY Change 202.58% 100396.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.027M $1.027M $789.6K
YoY Change 30.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $1.027M $1.027M $789.6K
YoY Change 30.11%
TOTAL ASSETS
Total Short-Term Assets $9.607M $9.607M $3.175M
Total Long-Term Assets $1.027M $1.027M $789.6K
Total Assets $10.63M $10.63M $3.965M
YoY Change 168.23% 111142.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.186M $1.186M
YoY Change 26265.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $5.120K $850.0K
YoY Change -100.0% -77.24%
Long-Term Debt Due $118.4K $118.4K
YoY Change
Total Short-Term Liabilities $1.310M $1.310M $2.139M
YoY Change -38.76% 4751.78%
LONG-TERM LIABILITIES
Long-Term Debt $144.8K $409.1K $4.693M
YoY Change -96.91%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $144.8K $409.1K $4.693M
YoY Change -96.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.310M $1.310M $2.139M
Total Long-Term Liabilities $144.8K $409.1K $4.693M
Total Liabilities $1.719M $1.719M $7.090M
YoY Change -75.75% 6267.07%
SHAREHOLDERS EQUITY
Retained Earnings -$15.05M -$12.21M
YoY Change 23.24%
Common Stock $3.322K $2.261K
YoY Change 46.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.916M $8.916M -$3.125M
YoY Change
Total Liabilities & Shareholders Equity $10.63M $10.63M $3.965M
YoY Change 168.23% 111142.05%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$2.793M -$2.800M
YoY Change 39.18%
Depreciation, Depletion And Amortization $371.4K $371.4K
YoY Change 39.31%
Cash From Operating Activities -$4.775M -$4.800M
YoY Change 145.96%
INVESTING ACTIVITIES
Capital Expenditures -$393.4K $393.4K
YoY Change 26.6%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$393.4K -$393.4K
YoY Change 26.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $8.383M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.06M $10.10M
YoY Change 465.57%
NET CHANGE
Cash From Operating Activities -4.775M -$4.800M
Cash From Investing Activities -393.4K -$393.4K
Cash From Financing Activities 10.06M $10.10M
Net Change In Cash 4.889M $4.887M
YoY Change -1125.5%
FREE CASH FLOW
Cash From Operating Activities -$4.775M -$4.800M
Capital Expenditures -$393.4K $393.4K
Free Cash Flow -$4.381M -$5.193M
YoY Change 129.57%

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<p style="margin: 0pt;"><b><em style="font: inherit;">1.</em> Organization and Nature of Business</b></p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Guerrilla RF, Inc. (formerly known as Laffin Acquisition Corp., the “Company”) was incorporated in the State of Delaware on <em style="font: inherit;"> November 9, 2020.  </em>On <em style="font: inherit;"> October </em><em style="font: inherit;">22,</em> <em style="font: inherit;">2021,</em> the Company's wholly-owned subsidiary, Guerrilla RF Acquisition Corp., a corporation formed in the State of Delaware on <em style="font: inherit;"> October </em><em style="font: inherit;">20,</em> <em style="font: inherit;">2021</em> (“Acquisition Sub”) and privately held Guerrilla RF Operating Corporation (formerly known as Guerrilla RF, Inc.) entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”).  Pursuant to the terms of the Merger Agreement, on <em style="font: inherit;"> October </em><em style="font: inherit;">22,</em> <em style="font: inherit;">2021</em> (the “Closing Date”), Acquisition Sub merged with and into Guerrilla RF Operating Corporation with Guerrilla RF Operating Corporation continuing as the surviving corporation and a wholly-owned subsidiary of the Company (the “Merger”). </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Prior to the Merger, Laffin Acquisition Corp. was a “shell” company registered under the Exchange Act, with <em style="font: inherit;">no</em> specific business plan or purpose until it began operating the business of Guerrilla RF Operating Corporation following the closing of the Merger.</p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">All references in these Consolidated Financial Statements to “Guerrilla RF” refer to Guerrilla RF Operating Corporation, our direct, wholly-owned subsidiary.  Unless otherwise stated or the context otherwise indicates, references to the “Company”, “we”, “our”, “us” or similar terms refer to Guerrilla RF, Inc. (formerly known as Laffin Acquisition Corp.) together with its wholly-owned subsidiary, Guerrilla RF.  Guerrilla RF holds all material assets and conducts all business activities and operations of the Company.  Accordingly, throughout these Consolidated Financial Statements, there are frequent references to Guerrilla RF. </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Guerrilla RF designs and manufactures high‐performance Monolithic Microwave Integrated Circuits (MMICs) for the wireless infrastructure market.  Guerrilla RF primarily focuses on researching and developing its existing products and building an infrastructure to handle a global distribution network; therefore, it has incurred significant start‐up losses. </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The Merger was accounted for as a “reverse acquisition” since, immediately following the consummation of the Merger, Guerrilla RF effectively controlled the Company. For accounting purposes, Guerrilla RF was deemed to be the accounting acquirer in the Merger and, consequently, the Merger is treated as a recapitalization of Guerrilla RF (i.e., a capital transaction involving the issuance of shares by the Company for the shares of Guerrilla RF). Accordingly, the assets, liabilities, and results of operations of Guerrilla RF became the historical consolidated financial statements of the Company, and the Company’s assets, liabilities, and results of operations were consolidated with Guerrilla RF beginning at the Closing Date.  <em style="font: inherit;">No</em> step-up in basis or intangible assets or goodwill were recorded in the Merger.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Liquidity and Going Concern</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Per Accounting Standards Update (“ASU”) <em style="font: inherit;">No.</em> <em style="font: inherit;">2014</em>-<em style="font: inherit;">15</em><i>, Disclosure of Uncertainties about an Entity</i>’<i>s Ability to Continue as a Going Concern (Subtopic <em style="font: inherit;">205</em>-<em style="font: inherit;">40</em>)</i>, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within <em style="font: inherit;">one</em> year after the date that the consolidated financial statements are issued.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"/> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The accompanying consolidated financial statements have been presented on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the ordinary course of business. The Company has historically financed its activities principally from common and preferred equity securities and debt issuance.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The Company has incurred substantial and negative cash flows from operations in nearly every fiscal period since inception. For the year ended <em style="font: inherit;"> December 31, 2021</em>, the Company incurred a <span style="background-color:#ffffff;">net loss of $2.8 million and used $4.8 million in cash</span> to fund operations. As a result, the Company had an accumulated deficit of<span style="background-color:#ffffff;"> $15.0 million a</span>s of <em style="font: inherit;"> December 31, 2021</em>. The Company's cash as of <em style="font: inherit;"> December 31, 2021</em> was <span style="background-color:#ffffff;">$5.3 million.</span></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Management believes that the Company has sufficient cash to support its operations through <em style="font: inherit;">2022.</em> Still, it will require significant additional cash resources to continue its planned research and development activities. The Company will need additional funds for promoting new products and working capital necessary to support increased sales. However, there can be <em style="font: inherit;">no</em> assurance that such financing will be available when needed, if at all, or on favorable terms and conditions. The precise amount and timing of the funding needs cannot be determined accurately at this time. They will depend on many factors, including the market demand for the Company's products, the quality of product development efforts, management of working capital, and the continuation of standard payment terms and conditions for purchasing goods and services. As a result, the Company is uncertain whether its cash balances and cash flow from operations will be sufficient to fund its operations for the next <em style="font: inherit;">twelve</em> months. This requirement for additional funding raises substantial doubt about our ability to continue as a going concern. The consolidated financial statements do <em style="font: inherit;">not</em> include any adjustments relating to the recoverability of the recorded assets or the classification of liabilities that <em style="font: inherit;"> may </em>be necessary should the Company be unable to continue as a going concern.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">To address its capital needs, including its planned research and development activities and other expenditures, the Company is actively pursuing additional debt and equity financing.  The Company has been in ongoing discussions with investors and other parties for such possible offerings. However, adequate financing opportunities might <em style="font: inherit;">not</em> be available to the Company, when and if needed, on acceptable terms or at all. If the Company is unable to obtain additional financing in sufficient amounts or on acceptable terms, the Company will be forced to delay, reduce, or eliminate some or all of its research and development programs and product portfolio expansion, which could adversely affect its operating results or business prospects. Although management continues to pursue these plans, there is <em style="font: inherit;">no</em> assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations, if at all.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"/> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Risks and Uncertainties</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">The Company is subject to several risks associated with companies at a similar stage, including dependence on key individuals, competition from similar products and larger companies, volatility of the industry, ability to obtain adequate financing to support growth, the ability to attract and retain additional qualified personnel to manage the anticipated growth of the Company, and general economic conditions.</p>
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingNumberEndingBalancePostMerger
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2645344
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
821037
CY2021Q4 guer Factor Of Change In Exercise Price Of Options
FactorOfChangeInExercisePriceOfOptions
2.95 pure
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
CY2021 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0 USD
CY2021Q4 guer Lessee Operating Lease Lease Not Yet Commenced Building Asset Additions
LesseeOperatingLeaseLeaseNotYetCommencedBuildingAssetAdditions
4000000.0 USD
CY2021Q4 guer Lessee Operating Lease Lease Not Yet Commenced Annual Lease Expense
LesseeOperatingLeaseLeaseNotYetCommencedAnnualLeaseExpense
1100000 USD
CY2021 guer Finance Lease Expense
FinanceLeaseExpense
102280 USD
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
128618 USD
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
126096 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
139349 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
131191 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
111371 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
133814 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
40292 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
87067 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
67569 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
382767 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
22975 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4496364 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3199028 USD
CY2021Q4 guer Deferred Tax Liabilities Trade Receivables And Prepaid Expenses
DeferredTaxLiabilitiesTradeReceivablesAndPrepaidExpenses
655804 USD
CY2020Q4 guer Deferred Tax Liabilities Trade Receivables And Prepaid Expenses
DeferredTaxLiabilitiesTradeReceivablesAndPrepaidExpenses
230727 USD
CY2021Q4 guer Deferred Tax Assets Liabilities Before Valuation Allowance
DeferredTaxAssetsLiabilitiesBeforeValuationAllowance
3840560 USD
CY2021Q4 guer Deferred Tax Assets Accounts Payable
DeferredTaxAssetsAccountsPayable
272585 USD
CY2020Q4 guer Deferred Tax Assets Accounts Payable
DeferredTaxAssetsAccountsPayable
174919 USD
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
11090 USD
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
18528 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
65127 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
32850 USD
CY2021Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
4860 USD
CY2020Q4 us-gaap Deferred Tax Assets Charitable Contribution Carryforwards
DeferredTaxAssetsCharitableContributionCarryforwards
2678 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3452349 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
278081 USD
CY2021Q4 guer Deferred Tax Assets Nel Carryforwards
DeferredTaxAssetsNelCarryforwards
324685 USD
CY2020Q4 guer Deferred Tax Assets Nel Carryforwards
DeferredTaxAssetsNelCarryforwards
2668997 USD
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
365668 USD
CY2020Q4 guer Deferred Tax Assets Liabilities Before Valuation Allowance
DeferredTaxAssetsLiabilitiesBeforeValuationAllowance
2968301 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3840560 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2968301 USD
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
-0.100 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
0 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.020 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.020 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.010 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.010 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLifeInsurance
0.050 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Life Insurance
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseLifeInsurance
0 pure
CY2021 guer Effective Income Tax Rate Reconciliation Provision To Return True Up Percent
EffectiveIncomeTaxRateReconciliationProvisionToReturnTrueUpPercent
0.010 pure
CY2020 guer Effective Income Tax Rate Reconciliation Provision To Return True Up Percent
EffectiveIncomeTaxRateReconciliationProvisionToReturnTrueUpPercent
0 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.040 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.070 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.300 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.290 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
120000 USD
CY2021 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
2588000 USD
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
208105 USD
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
150255 USD

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