2024 Q3 Form 10-Q Financial Statement

#000149315224033132 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $366.9K
YoY Change -43.43%
Cost Of Revenue $513.1K
YoY Change -13.97%
Gross Profit -$146.2K
YoY Change -380.35%
Gross Profit Margin -39.85%
Selling, General & Admin $54.24K
YoY Change 200.67%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.92K
YoY Change -50.62%
% of Gross Profit
Operating Expenses $1.335M
YoY Change -35.42%
Operating Profit -$1.482M
YoY Change -26.5%
Interest Expense -$1.780K
YoY Change -214.84%
% of Operating Profit
Other Income/Expense, Net $290.9K
YoY Change -2713.93%
Pretax Income -$1.192M
YoY Change -41.12%
Income Tax
% Of Pretax Income
Net Earnings -$1.440M
YoY Change -28.89%
Net Earnings / Revenue -392.54%
Basic Earnings Per Share -$0.92
Diluted Earnings Per Share -$0.92
COMMON SHARES
Basic Shares Outstanding 5.005M shares 1.298M shares
Diluted Shares Outstanding 1.561M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $374.5K
YoY Change -88.59%
Cash & Equivalents $374.5K
Short-Term Investments
Other Short-Term Assets $240.9K
YoY Change -14.96%
Inventory $937.2K
Prepaid Expenses
Receivables $371.8K
Other Receivables $0.00
Total Short-Term Assets $1.924M
YoY Change -61.97%
LONG-TERM ASSETS
Property, Plant & Equipment $375.5K
YoY Change 4.3%
Goodwill
YoY Change
Intangibles $87.50K
YoY Change -25.53%
Long-Term Investments $158.5K
YoY Change -3.54%
Other Assets $2.353K
YoY Change -97.19%
Total Long-Term Assets $824.1K
YoY Change -31.12%
TOTAL ASSETS
Total Short-Term Assets $1.924M
Total Long-Term Assets $824.1K
Total Assets $2.748M
YoY Change -56.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.378M
YoY Change 106.4%
Accrued Expenses $100.7K
YoY Change -66.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $222.0K
YoY Change 527.59%
Total Short-Term Liabilities $2.726M
YoY Change 45.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities $215.9K
YoY Change 357.23%
Total Long-Term Liabilities $215.9K
YoY Change 0.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.726M
Total Long-Term Liabilities $215.9K
Total Liabilities $2.942M
YoY Change 40.55%
SHAREHOLDERS EQUITY
Retained Earnings -$78.61M
YoY Change 11.04%
Common Stock $78.27M
YoY Change 4.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$193.6K
YoY Change
Total Liabilities & Shareholders Equity $2.748M
YoY Change -56.07%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.440M
YoY Change -28.89%
Depreciation, Depletion And Amortization $33.92K
YoY Change -50.62%
Cash From Operating Activities -$961.7K
YoY Change -30.06%
INVESTING ACTIVITIES
Capital Expenditures $4.100K
YoY Change -77.68%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$4.100K
YoY Change -77.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.747M
YoY Change -28736.89%
NET CHANGE
Cash From Operating Activities -961.7K
Cash From Investing Activities -4.100K
Cash From Financing Activities 1.747M
Net Change In Cash 781.0K
YoY Change -155.81%
FREE CASH FLOW
Cash From Operating Activities -$961.7K
Capital Expenditures $4.100K
Free Cash Flow -$965.8K
YoY Change -30.68%

Facts In Submission

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-0.32
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.32
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.44
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.44
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.92
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.63
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.63
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.91
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.91
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.62
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1561410 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1561410 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
770063 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
770063 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1341059 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1341059 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
716388 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
716388 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1440197 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2025337 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-16309 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-19331 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-16309 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19331 usd
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1456506 usd
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2044668 usd
us-gaap Net Income Loss
NetIncomeLoss
-5242739 usd
us-gaap Net Income Loss
NetIncomeLoss
-6176416 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
34257 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
53287 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
34257 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
53287 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5208482 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6123129 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1674357 usd
CY2023Q4 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1277118 usd
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
11505 usd
CY2023Q4 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
129662 usd
CY2023Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
42408 usd
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-2148611 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
986439 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
54443 usd
CY2024Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
29994 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8158 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-1653931 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-574897 usd
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1819999 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
17791 usd
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-16309 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1440197 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-193613 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
9742799 usd
CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
197108 usd
CY2022Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
62839 usd
CY2022Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
115583 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-2183206 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
7935123 usd
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
57120 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
25000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
-114482 usd
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
51940 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-42965 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1967873 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
5943863 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
78750 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
15000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
107754 usd
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
61996 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19331 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-19331 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-2025337 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
4162695 usd
us-gaap Net Income Loss
NetIncomeLoss
-5242739 usd
us-gaap Net Income Loss
NetIncomeLoss
-6176416 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-429175 usd
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-318255 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
142107 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
175995 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
308788 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
171718 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
83739 usd
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
367155 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
135870 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24049 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
24049 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-41108 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
-3789 usd
us-gaap Gain Loss On Investments
GainLossOnInvestments
-5350 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-103688 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-99428 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
164341 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
218394 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-173142 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-218271 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4707 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-7061 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
564335 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
390793 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-354668 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
28934 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-383542 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-195366 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
37229 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4270542 usd
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4606189 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
310342 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
31813 usd
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-310342 usd
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-31813 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
429933 usd
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
5932 usd
us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
398754 usd
NUZE Proceeds From Sales Of Future Receipts
ProceedsFromSalesOfFutureReceipts
195001 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
25224 usd
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
21729 usd
NUZE Repayment Of Equipment Finance
RepaymentOfEquipmentFinance
31626 usd
NUZE Proceeds From Equipment Finance
ProceedsFromEquipmentFinance
262893 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
320000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1277118 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
1659655 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
3626638 usd
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-27661 usd
NUZE Net Income Loss From Discontinued Operations
NetIncomeLossFromDiscontinuedOperations
429175 usd
NUZE Net Income Loss From Discontinued Operations
NetIncomeLossFromDiscontinuedOperations
318255 usd
NUZE Depreciation Discontinued Operations
DepreciationDiscontinuedOperations
3690 usd
NUZE Depreciation Discontinued Operations
DepreciationDiscontinuedOperations
5337 usd
NUZE Discontinued Operations Changes In Operating Assets And Liabilities
DiscontinuedOperationsChangesInOperatingAssetsAndLiabilities
-737063 usd
NUZE Discontinued Operations Changes In Operating Assets And Liabilities
DiscontinuedOperationsChangesInOperatingAssetsAndLiabilities
403545 usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
311578 usd
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-716463 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
34257 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53287 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-608411 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5328839 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
982869 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8262319 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
374458 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2933480 usd
us-gaap Interest Paid Net
InterestPaidNet
1416 usd
us-gaap Interest Paid Net
InterestPaidNet
3760 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3048 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8090 usd
NUZE Forgiveness Of Stock Issuance Costs
ForgivenessOfStockIssuanceCosts
40000 usd
NUZE Rights Of Use Assets And Liabilities Added During Period
RightsOfUseAssetsAndLiabilitiesAddedDuringPeriod
105825 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
157440 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
380584 usd
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
842121 usd
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
1360998 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
149875 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
333980 usd
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
773534 usd
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
1164491 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
7565 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
46604 usd
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
68587 usd
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
196507 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
106480 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
185646 usd
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
476532 usd
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
533918 usd
CY2024Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-98915 usd
CY2023Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-139042 usd
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-407945 usd
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-337411 usd
CY2024Q2 NUZE Disposal Group Including Discontinued Other Income And Expense
DisposalGroupIncludingDiscontinuedOtherIncomeAndExpense
829 usd
CY2023Q2 NUZE Disposal Group Including Discontinued Other Income And Expense
DisposalGroupIncludingDiscontinuedOtherIncomeAndExpense
-5 usd
NUZE Disposal Group Including Discontinued Other Income And Expense
DisposalGroupIncludingDiscontinuedOtherIncomeAndExpense
-21230 usd
NUZE Disposal Group Including Discontinued Other Income And Expense
DisposalGroupIncludingDiscontinuedOtherIncomeAndExpense
19156 usd
CY2024Q2 NUZE Disposal Group Including Discontinued Loss From Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDiscontinuedOperations
-98086 usd
CY2023Q2 NUZE Disposal Group Including Discontinued Loss From Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDiscontinuedOperations
-139047 usd
NUZE Disposal Group Including Discontinued Loss From Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDiscontinuedOperations
-429175 usd
NUZE Disposal Group Including Discontinued Loss From Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDiscontinuedOperations
-318255 usd
CY2024Q2 NUZE Disposal Group Including Discontinued Loss From Disposition Of Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDispositionOfDiscontinuedOperations
-149677 usd
NUZE Disposal Group Including Discontinued Loss From Disposition Of Discontinued Operations
DisposalGroupIncludingDiscontinuedLossFromDispositionOfDiscontinuedOperations
-149677 usd
CY2024Q2 NUZE Disposal Group Including Discontinued Net Loss
DisposalGroupIncludingDiscontinuedNetLoss
-247763 usd
CY2023Q2 NUZE Disposal Group Including Discontinued Net Loss
DisposalGroupIncludingDiscontinuedNetLoss
-139047 usd
NUZE Disposal Group Including Discontinued Net Loss
DisposalGroupIncludingDiscontinuedNetLoss
-578852 usd
NUZE Disposal Group Including Discontinued Net Loss
DisposalGroupIncludingDiscontinuedNetLoss
-318255 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84F_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_ziCng5wW4MT6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="background-color: white"><i><span id="xdx_865_ztr3gp4a0Nc5">Reclassifications of Prior Year Amounts</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"><i> </i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="background-color: white">Certain prior year amounts have been reclassified for consistency with the current year presentation. The reclassifications had no effect on the reported results of operations or net assets of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p>
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
ratio from 1-for-10 to 1-for-50
CY2022Q4 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-35
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
225225 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
253862 shares
CY2024Q2 us-gaap Cash
Cash
374458 usd
CY2024Q2 NUZE Working Capital
WorkingCapital
801812 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zOypduCHcFul" 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; background-color: white"><i><span id="xdx_869_zwCeYV5WIMy">Use of Estimates</span></i></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; background-color: white">In preparing these consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those 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>
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zIpsCKeSzabg" 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; background-color: white"><i><span id="xdx_867_zbEBPrY44JDj">Concentration of Credit Risk</span></i></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; background-color: white">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash with high quality banking institutions. From time to time, the Company may or may not maintain cash balances at certain institutions in excess of the Federal Deposit Insurance Corporation limit.</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>
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
82685 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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NUZE Addition For Right Of Use Of Assets
AdditionForRightOfUseOfAssets
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
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CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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NUZE Addition For Lease Liability
AdditionForLeaseLiability
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NUZE Operating Lease Lease Liability Amortization Expense
OperatingLeaseLeaseLiabilityAmortizationExpense
383542 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
100712 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
100712 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
100712 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
100712 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
100712 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
100712 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
100712 usd
us-gaap Interest Expense
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us-gaap Operating Lease Payments
OperatingLeasePayments
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us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
15297 usd
us-gaap Sublease Income
SubleaseIncome
119275 usd
us-gaap Sublease Income
SubleaseIncome
133443 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
34257 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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us-gaap Gain Loss On Investments
GainLossOnInvestments
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us-gaap Gain Loss On Investments
GainLossOnInvestments
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CY2024Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
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CY2023Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
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CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
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CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
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CY2024Q2 us-gaap Inventory Net
InventoryNet
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CY2023Q3 us-gaap Inventory Net
InventoryNet
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CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
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CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
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CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
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CY2024Q2 us-gaap Inventory Net
InventoryNet
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CY2023Q3 us-gaap Inventory Net
InventoryNet
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us-gaap Depreciation
Depreciation
119607 usd
us-gaap Depreciation
Depreciation
153495 usd
NUZE Property And Equipment Description
PropertyAndEquipmentDescription
Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of property and equipment that exceed $1,000 are capitalized.
CY2024Q2 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1456064 usd
CY2023Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
1145722 usd
CY2024Q2 us-gaap Public Utilities Property Plant And Equipment Vehicles
PublicUtilitiesPropertyPlantAndEquipmentVehicles
57431 usd
CY2023Q3 us-gaap Public Utilities Property Plant And Equipment Vehicles
PublicUtilitiesPropertyPlantAndEquipmentVehicles
57431 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1137997 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1018390 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
375498 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
184763 usd
NUZE Purchase Of Deposit Equipment
PurchaseOfDepositEquipment
0 usd
CY2023 NUZE Purchase Of Deposit Equipment
PurchaseOfDepositEquipment
0 usd
CY2024Q1 NUZE Accounts Receivable Face Discount Percentage
AccountsReceivableFaceDiscountPercentage
0.03 pure
NUZE Outstanding Advances Amount
OutstandingAdvancesAmount
73848 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
262893 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87500 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
30000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22500 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
7500 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
30000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
30000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
20000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87500 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
96458 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
150.39
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Forfeited And Expired Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingForfeitedAndExpiredWeightedAverageRemainingContractualTerm2
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
175.24
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P2Y3M7D
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
80.73
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
16119 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
103.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
648 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
352.55
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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24.27
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
152398 shares
CY2023Q3 NUZE Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice1
158.24
CY2023 NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsOutstandingWeightedAverageRemainingContractualTerm
P2Y7M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
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6476 shares
NUZE Share Based Compensation Arrangements By Share Based Payment Award Non Options Granted In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantedInPeriodWeightedAverageExercisePrice
2.64
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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158874 shares
CY2024Q2 NUZE Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price1
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice1
151.90
NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardWarrantsOutstandingWeightedAverageRemainingContractualTerm
P2Y
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NUZE Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercisable In Period Weighted Average Exercise Price
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151.90
NUZE Sharebased Compensation Arrangement By Sharebased Payment Award Warrants Outstanding Weighted Average Remaining Contractual Term Exercisable
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p id="xdx_802_eus-gaap--LossContingencyDisclosures_zC01b3DlpoPe" 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>6. <span id="xdx_82B_zj5KWlfTXHU">CONTINGENCY</span></b></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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Steeped, Inc. Litigation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As previously disclosed, on January 27, 2023, Steeped, Inc. d/b/a Steeped Coffee (“Steeped”) filed a complaint against the Company in the Superior Court of California, Santa Cruz County (Case No. 23CV00234) (the “Steeped Litigation”). The Steeped Litigation relates to Steeped’s claim that the Company breached a 2021 settlement agreement that resolved Steeped’s 2019 trademark infringement case against the Company. The earlier case involved Steeped’s purported trademark protection for “steeped coffee” and related phrases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Steeped’s operative complaint in the pending Steeped Litigation alleges breach of contract, intentional interference with contractual relations, intentional interference with prospective economic advantage, and fraud in the inducement of contract. Plaintiff seeks a trial by jury and relief in the form of a permanent injunction for use of “Steep Coffee” or any confusingly similar variant of “STEEPED COFFEE”; the impoundment and destruction of allegedly violating packaging materials and/or finished goods; a final judgment for all profits derived from the Company’s allegedly unlawful conduct, actual damages, damages to the Plaintiff’s reputation and goodwill among its customers and partners; and reasonable attorneys’ fees and costs. NuZee answered Steeped’s complaint with a general denial and asserted twenty-five affirmative defenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 16, 2024, a mediation hearing was held. After the close of business, the mediator suggested a settlement amount of $<span id="xdx_900_eus-gaap--LossContingencyDamagesAwardedValue_c20240116__20240116_zxDtgmdMnX7a" title="Settlement amount">500,000</span> which both parties agreed to accept. On June 19, 2024 (the “Effective Date”), Steeped and the Company entered into a settlement agreement outlining the payment schedule for the $<span id="xdx_907_eus-gaap--LossContingencyDamagesAwardedValue_c20240619__20240619__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember_zROs7CdPkOG6" title="Settlement amount">500,000</span> according to the following schedule: $<span id="xdx_90E_eus-gaap--LossContingencyDamagesAwardedValue_c20240619__20240619__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__us-gaap--AwardTypeAxis__custom--WithinTwentyBusinessDaysMember_zLY5cZX9eLK1" title="Settlement amount">100,000</span> within 20 business days of the Effective Date, $<span id="xdx_90B_eus-gaap--LossContingencyDamagesAwardedValue_c20240619__20240619__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__us-gaap--AwardTypeAxis__custom--WithinFortyBusinessDaysMember_zG3hCDertAV8" title="Settlement amount">200,000</span> within 40 business days of the Effective Date and $<span id="xdx_902_eus-gaap--LossContingencyDamagesAwardedValue_c20240619__20240619__us-gaap--TypeOfArrangementAxis__custom--SettlementAgreementMember__us-gaap--AwardTypeAxis__custom--WithinEightyBusinessDaysMember_zmUfhP5rVKo9" title="Settlement amount">200,000</span> within 80 business days of the Effective Date. The settlement amount is accrued in the financial statements as of June 30, 2024 and is included in current liabilities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Curtin Litigation</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As previously disclosed, on January 6, 2023, a former employee of the Company, Rosaline Curtin (“Ms. Curtin”), filed a complaint against the Company and another former employee of the Company, Jose Ramirez (“Mr. Ramirez”), in the Superior Court of California, County of San Diego (Case No. 37-2023-00000841-CU-WT-NC) (the “Curtin Complaint”). The Curtin Complaint alleges that Ms. Curtin was subject to harassment by her supervisor, Mr. Ramirez, and gender discrimination throughout her employment, that she reported this discrimination and harassment to the Company, and that the Company retaliated against her and wrongfully terminated her for whistleblowing and failed to prevent discrimination, harassment, and retaliation. The Curtin Complaint seeks compensatory damages, including loss of past, present and future earnings, and benefits, as well as punitive damages, penalties, attorney’s fees and costs and interest. The Company has responded to the complaint on behalf of the Company and Mr. Ramirez and prevailed on December 22, 2023, prevailed on its motion to compel. Arbitration proceedings have been initiated, and the parties have agreed on an arbitrator. On May 24, 2024, a management conference was held in the arbitration and a hearing date was scheduled for January 13-17, 2025. Discovery is underway and the Company’s responses and objections to Curtin’s discovery demands are due on August 9, 2024. Curtin’s discovery responses and objections to the Company’s discovery demands are due on August 23, 2024. The Company believes the allegations set forth in the Curtin Complaint are without merit and intends to defend vigorously against the allegations. However, the Company is not able to predict the outcome, and there is no assurance that the Company will be successful in its defense.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From time to time, we may be subject to other legal proceedings and claims in the ordinary course of business. The results of any future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Other</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 29, 2024, the Company received a letter from an investor alleging that the Company has breached a purported agreement by failing to satisfy certain alleged obligations. The investor has demanded fulfillment of the alleged obligations, undisclosed monetary damages, legal fees and interest. He has indicated he will seek Court intervention if the Company fails to adequately address his demands. The Company and its counsel are reviewing the matter.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; background-color: white"><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>
CY2024Q1 us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
500000 usd
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
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false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Trmntd Flag
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false

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