2023 Q1 Form 10-K Financial Statement

#000149315223010279 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $21.07M $51.22M $95.93M
YoY Change 70.53% 63.11% 52.77%
Cost Of Revenue $11.45M $26.60M $46.94M
YoY Change 94.19% 88.28% 67.75%
Gross Profit $9.616M $24.62M $48.99M
YoY Change 48.93% 42.53% 40.73%
Gross Profit Margin 45.64% 48.06% 51.07%
Selling, General & Admin $11.22M $25.43M $50.91M
YoY Change 55.79% 82.72% 73.54%
% of Gross Profit 116.69% 103.29% 103.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.66K $39.09K $79.08K
YoY Change 312.64% 8586.67% 17474.22%
% of Gross Profit 0.36% 0.16% 0.16%
Operating Expenses $11.22M $25.43M $50.91M
YoY Change 55.79% 82.72% 73.54%
Operating Profit -$1.604M -$811.1K -$1.919M
YoY Change 115.26% -124.17% -135.06%
Interest Expense $56.58K -$17.48K $144.5K
YoY Change -167.71% -33.23% -355.67%
% of Operating Profit
Other Income/Expense, Net -$55.75K -$36.58K -$20.43K
YoY Change -3841.28% -54.65% -127.11%
Pretax Income -$1.660M -$865.1K -$1.940M
YoY Change 100.65% -126.63% -135.31%
Income Tax -$425.0K -$195.6K -$462.2K
% Of Pretax Income
Net Earnings -$1.235M -$669.5K -$1.478M
YoY Change 91.54% -126.62% -130.89%
Net Earnings / Revenue -5.86% -1.31% -1.54%
Basic Earnings Per Share -$0.04 -$0.04
Diluted Earnings Per Share -$0.04 -$0.02 -$0.04
COMMON SHARES
Basic Shares Outstanding 35.05M shares 35.04M shares 34.99M shares
Diluted Shares Outstanding 35.05M shares 34.99M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.275M $4.563M $4.563M
YoY Change -83.37% -56.93% -56.93%
Cash & Equivalents $1.275M $4.563M $4.561M
Short-Term Investments
Other Short-Term Assets $12.13K $9.277K $685.5K
YoY Change -98.27% 122.9% -19.41%
Inventory $13.57M $18.80M $18.80M
Prepaid Expenses
Receivables $343.3K $352.4K $352.4K
Other Receivables $419.4K $55.73K $55.73K
Total Short-Term Assets $16.02M $24.46M $24.46M
YoY Change -21.38% 30.61% 30.61%
LONG-TERM ASSETS
Property, Plant & Equipment $245.1K $274.2K $724.9K
YoY Change -59.19% 1650.14% 1483.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $974.3K $549.3K $549.3K
YoY Change 327.28% 1107.56% 1107.56%
Total Long-Term Assets $1.614M $1.274M $1.274M
YoY Change 94.72% 1296.18% 1296.27%
TOTAL ASSETS
Total Short-Term Assets $16.02M $24.46M $24.46M
Total Long-Term Assets $1.614M $1.274M $1.274M
Total Assets $17.64M $25.73M $25.73M
YoY Change -16.85% 36.75% 36.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.025M $11.88M $11.88M
YoY Change -20.82% 24.57% 24.57%
Accrued Expenses $127.1K $182.3K $1.620M
YoY Change -90.36% 56.24% 33.44%
Deferred Revenue
YoY Change
Short-Term Debt $657.9K $652.3K $652.3K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.747M $14.50M $14.50M
YoY Change -42.12% -10.26% -10.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.227M $4.329M $4.394M
YoY Change 1938.09%
Total Long-Term Liabilities $4.274M $4.394M $4.394M
YoY Change 1960.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.747M $14.50M $14.50M
Total Long-Term Liabilities $4.274M $4.394M $4.394M
Total Liabilities $12.02M $18.90M $18.90M
YoY Change -11.55% 16.93% 16.93%
SHAREHOLDERS EQUITY
Retained Earnings -$58.17K $1.177M
YoY Change -55.66%
Common Stock $3.506K $3.506K
YoY Change 5.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.615M $6.833M $6.833M
YoY Change
Total Liabilities & Shareholders Equity $17.64M $25.73M $25.73M
YoY Change -16.85% 36.75% 36.75%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.235M -$669.5K -$1.478M
YoY Change 91.54% -126.62% -130.89%
Depreciation, Depletion And Amortization $34.66K $39.09K $79.08K
YoY Change 312.64% 8586.67% 17474.22%
Cash From Operating Activities -$3.130M $2.923M -$11.60M
YoY Change -60.5% -52.78% -249.45%
INVESTING ACTIVITIES
Capital Expenditures $3.379K $339.5K $339.5K
YoY Change -97.31% -2206.2% -2206.19%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.379K -$71.18K -$339.5K
YoY Change -97.31% 341.56% 2006.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$159.0K 34.65K $5.923M
YoY Change -103.1% -193.0% -378.59%
NET CHANGE
Cash From Operating Activities -$3.130M 2.923M -$11.60M
Cash From Investing Activities -$3.379K -71.18K -$339.5K
Cash From Financing Activities -$159.0K 34.65K $5.923M
Net Change In Cash -$3.288M 2.886M -$6.030M
YoY Change 12.68% -52.97% -207.26%
FREE CASH FLOW
Cash From Operating Activities -$3.130M $2.923M -$11.60M
Capital Expenditures $3.379K $339.5K $339.5K
Free Cash Flow -$3.133M $2.583M -$11.94M
YoY Change -61.08% -58.37% -253.5%

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CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
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CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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7764057 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
339518 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16115 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-339518 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
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138854 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
3023 usd
CY2022 us-gaap Repayments Of Related Party Debt
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CY2021 us-gaap Proceeds From Contributions From Parent
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2800 usd
CY2021 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
2132000 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
5580192 usd
CY2022 HOUR Proceeds From Prepaid Expenses And Other Current Assets
ProceedsFromPrepaidExpensesAndOtherCurrentAssets
576168 usd
CY2022 us-gaap Proceeds From Short Term Debt
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-10631 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2743 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5624508 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4562589 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10592572 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
470601 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2022 HOUR Rightofuse Of Asset And Operating Lease Liabilities Recognized
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CY2021 HOUR Noncash Distribution To Stockholders
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CY2021 HOUR Noncash Shortterm Debt From Related Parties
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CY2022 us-gaap Number Of Operating Segments
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1 segment
CY2021Q2 us-gaap Plan Of Reorganization Dates Plan Is Effective
PlanOfReorganizationDatesPlanIsEffective
2021-07-27
CY2022 us-gaap Proceeds From Other Short Term Debt
ProceedsFromOtherShortTermDebt
4170418 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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0.02 pure
CY2022 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2022-12-31
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11603176 usd
CY2022 us-gaap Net Income Loss
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CY2022 us-gaap Use Of Estimates
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<p id="xdx_84B_eus-gaap--UseOfEstimates_zU2aeF2s3Zi8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zp8ei1VckASl">Use of Estimates</span> </b>- The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates, but not limited to, estimates associated with the collectability of allowance for accounts receivable, accounts receivable, useful life of Property and equipment, impairment long lived assets, valuation allowance for Deferred tax assets and inventory valuation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
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InventoryValuationReserves
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InventoryValuationReserves
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2500 usd
CY2022 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P3Y
CY2022 HOUR Sales Return Rate
SalesReturnRate
0.0578 pure
CY2021 HOUR Sales Return Rate
SalesReturnRate
0.0492 pure
CY2022 HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
21145605 usd
CY2021 HOUR Shipping And Handling Costs
ShippingAndHandlingCosts
11756555 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
288466 usd
CY2021Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
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CY2022 us-gaap Concentration Risk Credit Risk
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<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zyMDijEKhtb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_zymj8BBwyoNh">Concentrations of Risks</span> </b>- Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company maintains cash with various domestic and foreign financial institutions of high credit quality. The Company performs periodic evaluations of the relative credit standing of all of the aforementioned institutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s accounts receivables are derived from sales contracts with a large number of customers. The Company maintains reserves for potential credit losses on customer accounts when deemed necessary. Significant customers are those which represent more than 10% of the Company’s total net revenue or gross accounts receivable balance at the balance sheet date. <span id="xdx_909_eus-gaap--ConcentrationRiskCustomer_c20220101__20221231_zQKPXRV6rvx5" title="Concentration risk customer">During the periods ended December 31, 2022 and 2021, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of December 31, 2022 and 2021, the Company had no customer that accounted for 10% or more of gross accounts receivable</span>. As of December 31, 2022 and 2021, all of the Company’s accounts receivable were held by the Company’s sales platform agent, Amazon, which collects money on the Company’s behalf from its customers. Therefore, the Company’s accounts receivable are comprised of receivables due from Amazon and the reimbursement from Amazon to the Company usually takes 15 to 20 days.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s business is reliant on one key vendor which currently provides the Company with its sales platform, logistics and fulfillment operations, including certain warehousing for the Company’s net goods, and invoicing and collection of its revenue from the Company’s end customers. During the periods ended December 31, 2022 and 2021, approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zIvDMtMTDun3" title="Concentration risk percentage"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__srt--MajorCustomersAxis__custom--CustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zouaAOxMuLeb" title="Concentration risk percentage">100</span></span>% of the Company’s revenue was through or with the Amazon sales platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During the periods ended December 31, 2022 and 2021, the Company had no customer that accounted for 10% or more of total net revenues. In addition, as of December 31, 2022 and 2021, the Company had no customer that accounted for 10% or more of gross accounts receivable
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1414 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CashAndCashEquivalentsAtCarryingValue
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CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
CY2022Q4 us-gaap Inventory Net
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CY2021Q4 us-gaap Inventory Net
InventoryNet
7041864 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
184720 usd
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
431313 usd
CY2022 HOUR Inventory Provision
InventoryProvision
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CY2021 HOUR Inventory Provision
InventoryProvision
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CY2022 HOUR Inventory Write Off Value
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CY2021 HOUR Inventory Write Off Value
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CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
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CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
448 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
274195 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15667 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16115 usd
CY2022 us-gaap Depreciation
Depreciation
79084 usd
CY2021 us-gaap Depreciation
Depreciation
448 usd
CY2022 HOUR Disposal Or Pledge
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CY2021 HOUR Disposal Or Pledge
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CY2022Q4 us-gaap Supplies
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CY2021Q4 us-gaap Supplies
Supplies
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OtherPrepaidExpenseCurrent
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CY2021Q4 us-gaap Other Prepaid Expense Current
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CY2022Q4 HOUR Lease Refundable Deposit Current
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CY2021Q4 HOUR Lease Refundable Deposit Current
LeaseRefundableDepositCurrent
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CY2022Q4 us-gaap Prepaid Taxes
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CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
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CY2022Q4 us-gaap Other Assets Current
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CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4162 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2022Q4 us-gaap Prepaid Taxes
PrepaidTaxes
413895 usd
CY2021Q4 us-gaap Prepaid Taxes
PrepaidTaxes
114640 usd
CY2022Q4 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
288466 usd
CY2021Q4 HOUR Accrued Sales Tax Payable Current
AccruedSalesTaxPayableCurrent
620963 usd
CY2022Q4 us-gaap Accrued Salaries Current
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CY2021Q4 us-gaap Accrued Salaries Current
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CY2022Q4 us-gaap Accrued Bonuses Current
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CY2021Q4 us-gaap Accrued Bonuses Current
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353692 usd
CY2022Q4 us-gaap Accrued Liabilities Current
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182294 usd
CY2021Q4 us-gaap Accrued Liabilities Current
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CY2022Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
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CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
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CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
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CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
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CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
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CY2022Q4 us-gaap Accrued Bonuses Current
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468209 usd
CY2021Q4 us-gaap Accrued Bonuses Current
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353692 usd
CY2022Q4 us-gaap Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
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CY2021Q4 us-gaap Due To Officers Or Stockholders Current
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CY2022Q4 us-gaap Loans Payable
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CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
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0.02 pure
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
18449 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
450161 usd
CY2022Q4 us-gaap Operating Lease Liability Current
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64945 usd
CY2022 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
310161 usd
CY2021 HOUR Noncash Lease Expenses
NoncashLeaseExpenses
73343 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0383 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0405 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2483 pure
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.2505 pure
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10741 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2022 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
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CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
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-139 usd
CY2021Q4 HOUR Deferred Tax Assets Right Of Use Asset
DeferredTaxAssetsRightOfUseAsset
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CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
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CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
46268 usd
CY2022Q4 HOUR Deferred Tax Net Loss
DeferredTaxNetLoss
340328 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
549320 usd
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
45488 usd
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
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CY2022 HOUR Revenue Gross
RevenueGross
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CY2021 HOUR Revenue Gross
RevenueGross
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SalesReturns
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CY2021 HOUR Sales Returns
SalesReturns
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CY2022 HOUR Discounts
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CY2021 HOUR Discounts
Discounts
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022 us-gaap Labor And Related Expense
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LaborAndRelatedExpense
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LegalFees
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CY2021 us-gaap Legal Fees
LegalFees
49466 usd
CY2022 us-gaap General Insurance Expense
GeneralInsuranceExpense
575472 usd
CY2021 us-gaap General Insurance Expense
GeneralInsuranceExpense
158185 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
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CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
126718 usd
CY2022 us-gaap Taxes Other
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CY2022 HOUR Outside Services Expense
OutsideServicesExpense
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CY2021 HOUR Outside Services Expense
OutsideServicesExpense
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CY2022 us-gaap Franchisor Costs
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PensionExpense
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PensionExpense
62319 usd
CY2022 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
47814 usd
CY2021 HOUR General And Administrative Office Expense
GeneralAndAdministrativeOfficeExpense
65823 usd
CY2022 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
219277 usd
CY2021 HOUR General And Administrative Software Subscriptions Expense
GeneralAndAdministrativeSoftwareSubscriptionsExpense
33919 usd
CY2022 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
50391 usd
CY2021 HOUR Manpower Recruitment Advertising Expense
ManpowerRecruitmentAdvertisingExpense
19343 usd
CY2022 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
30304 usd
CY2021 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
88125 usd
CY2022 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
274992 usd
CY2021 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
211594 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8685254 usd
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4236000 usd
CY2022 HOUR Outside Services Expenses
OutsideServicesExpenses
288552 usd
CY2021 HOUR Outside Services Expenses
OutsideServicesExpenses
170876 usd
CY2022 us-gaap Pension Expense
PensionExpense
177434 usd
CY2021 us-gaap Pension Expense
PensionExpense
62319 usd
CY2021 HOUR Accumulated Distributions For Retained Earnings
AccumulatedDistributionsForRetainedEarnings
-6302418 usd
CY2021 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
2800 usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35047828 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33300000 shares
CY2021Q3 us-gaap Stock Issued During Period Shares Stock Splits
StockIssuedDuringPeriodSharesStockSplits
44400000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
440000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
the Company effected a reverse stock split, pursuant to which each existing share of common stock was split into 0.75 share of the Company’s common stock
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
44400000 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33300000 shares

Files In Submission

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0001493152-23-010279-index-headers.html Edgar Link pending
0001493152-23-010279-index.html Edgar Link pending
0001493152-23-010279.txt Edgar Link pending
0001493152-23-010279-xbrl.zip Edgar Link pending
ex21-1.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
form10-k_001.jpg Edgar Link pending
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hour-20221231.xsd Edgar Link pending
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hour-20221231_cal.xml Edgar Link unprocessable
hour-20221231_def.xml Edgar Link unprocessable
hour-20221231_lab.xml Edgar Link unprocessable
hour-20221231_pre.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
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