2024 Q4 Form 10-Q Financial Statement
#000182912624007427 Filed on November 12, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 |
---|---|---|
Revenue | $253.6K | |
YoY Change | 14.3% | |
Cost Of Revenue | $194.3K | |
YoY Change | 37.25% | |
Gross Profit | $59.34K | |
YoY Change | -26.14% | |
Gross Profit Margin | 23.4% | |
Selling, General & Admin | $1.655M | |
YoY Change | 14.18% | |
% of Gross Profit | 2788.89% | |
Research & Development | $131.4K | |
YoY Change | -31.83% | |
% of Gross Profit | 221.37% | |
Depreciation & Amortization | $23.96K | |
YoY Change | 40.78% | |
% of Gross Profit | 40.37% | |
Operating Expenses | $1.821M | |
YoY Change | 8.6% | |
Operating Profit | -$1.762M | |
YoY Change | 10.35% | |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $41.39K | |
YoY Change | -9.42% | |
Pretax Income | -$1.721M | |
YoY Change | 10.93% | |
Income Tax | $0.00 | |
% Of Pretax Income | ||
Net Earnings | -$1.721M | |
YoY Change | 10.93% | |
Net Earnings / Revenue | -678.5% | |
Basic Earnings Per Share | -$0.99 | |
Diluted Earnings Per Share | -$0.99 | |
COMMON SHARES | ||
Basic Shares Outstanding | 2.442M shares | 1.571M shares |
Diluted Shares Outstanding | 1.737M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $9.439M | |
YoY Change | 61.27% | |
Cash & Equivalents | $4.544M | |
Short-Term Investments | $4.895M | |
Other Short-Term Assets | $59.45K | |
YoY Change | 14.7% | |
Inventory | $915.2K | |
Prepaid Expenses | $324.8K | |
Receivables | $80.89K | |
Other Receivables | $0.00 | |
Total Short-Term Assets | $10.99M | |
YoY Change | 46.54% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $106.7K | |
YoY Change | -40.22% | |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $66.97K | |
YoY Change | 23.77% | |
Total Long-Term Assets | $604.7K | |
YoY Change | -1.66% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $10.99M | |
Total Long-Term Assets | $604.7K | |
Total Assets | $11.60M | |
YoY Change | 42.89% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $608.0K | |
YoY Change | 226.94% | |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $653.0K | |
YoY Change | 51.44% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | |
YoY Change | ||
Other Long-Term Liabilities | $12.95K | |
YoY Change | -69.53% | |
Total Long-Term Liabilities | $12.95K | |
YoY Change | -69.53% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $653.0K | |
Total Long-Term Liabilities | $12.95K | |
Total Liabilities | $665.9K | |
YoY Change | 40.58% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$22.61M | |
YoY Change | 55.12% | |
Common Stock | $24.00 | |
YoY Change | -81.4% | |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $10.93M | |
YoY Change | ||
Total Liabilities & Shareholders Equity | $11.60M | |
YoY Change | 42.89% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$1.721M | |
YoY Change | 10.93% | |
Depreciation, Depletion And Amortization | $23.96K | |
YoY Change | 40.78% | |
Cash From Operating Activities | -$1.400M | |
YoY Change | 2.89% | |
INVESTING ACTIVITIES | ||
Capital Expenditures | $91.74K | |
YoY Change | 2.54% | |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$4.895M | |
YoY Change | -611997.5% | |
Cash From Investing Activities | -$4.987M | |
YoY Change | 5523.51% | |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 5.034M | |
YoY Change | 322562.82% | |
NET CHANGE | ||
Cash From Operating Activities | -1.400M | |
Cash From Investing Activities | -4.987M | |
Cash From Financing Activities | 5.034M | |
Net Change In Cash | -1.353M | |
YoY Change | -6.52% | |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.400M | |
Capital Expenditures | $91.74K | |
Free Cash Flow | -$1.491M | |
YoY Change | 2.87% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | ||
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Document Fiscal Period Focus
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Q3 | ||
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EntityFileNumber
|
001-41392 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
INNOVATIVE EYEWEAR, INC. | ||
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Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
FL | ||
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Entity Address State Or Province
EntityAddressStateOrProvince
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FL | ||
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EntityAddressPostalZipCode
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33181 | ||
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2024-09-30 | ||
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85-0734861 | ||
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11900 Biscayne Blvd. | ||
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North Miami | ||
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Loan Made To Tekcapital Europe Ltd.See Note6
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Repayment Of Amounts Loaned To Tekcapital Europe Ltd.See Note6
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Repayments Of Convertible Debt
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Issuance Of Shares From Conversion Of Related Party Convertible Debt
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Issuance Of Shares For Prepayment To Brand Ambassador
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Allowance For Doubtful Accounts Receivable Write Offs
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Lessee Operating Lease Liability Payments Due Next Twelve Months
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AssetsCurrent
|
10992143 | usd |
CY2024Q3 | us-gaap |
Finite Lived Patents Gross
FiniteLivedPatentsGross
|
431034 | usd |
CY2024Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
106689 | usd |
CY2024Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
66972 | usd |
CY2024Q3 | us-gaap |
Assets
Assets
|
11596838 | usd |
CY2024Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
607950 | usd |
CY2024Q3 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
45013 | usd |
CY2024Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
24 | usd |
CY2024Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-22609802 | usd |
CY2024Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
1821407 | usd |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
586807 | shares | |
CY2024Q3 | LUCY |
Atthemarket Offerings
AtthemarketOfferings
|
1398555 | usd |
CY2024Q3 | LUCY |
Exercises Of Warrants Related To Inducement Agreements
ExercisesOfWarrantsRelatedToInducementAgreements
|
3503879 | usd |
CY2024Q3 | LUCY |
Exercises Of Warrants
ExercisesOfWarrants
|
299998 | usd |
CY2024Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
105075 | usd |
CY2024Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-1720677 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
10930925 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4024429 | usd |
CY2023Q1 | LUCY |
Exercises Of Warrants By Stockholders
ExercisesOfWarrantsByStockholders
|
1532250 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
424431 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1430810 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4550300 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
17650 | usd |
CY2023Q2 | LUCY |
Exercises Of Warrants By Stockholders
ExercisesOfWarrantsByStockholders
|
1204200 | usd |
CY2023Q2 | LUCY |
Exercises Of Warrants Related To Private Placement Transaction
ExercisesOfWarrantsRelatedToPrivatePlacementTransaction
|
391268 | usd |
CY2023Q2 | LUCY |
Second Public Offering
SecondPublicOffering
|
4115688 | usd |
CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
-40180 | usd |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-1287802 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8951124 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
242235 | usd |
CY2023Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-1551105 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7642254 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5640387 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4269717 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
83907 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
45996 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
25199 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
20030 | usd | |
us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
3036 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
510534 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
626486 | usd | |
LUCY |
Expenses Paid By Parent And Affiliates
ExpensesPaidByParentAndAffiliates
|
217368 | usd | |
LUCY |
Expenses Paid By Parent And Affiliates
ExpensesPaidByParentAndAffiliates
|
222459 | usd | |
LUCY |
Recovery Of Provision For Doubtful Accounts
RecoveryOfProvisionForDoubtfulAccounts
|
-2605 | usd | |
LUCY |
Recovery Of Provision For Doubtful Accounts
RecoveryOfProvisionForDoubtfulAccounts
|
-25121 | usd | |
us-gaap |
Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
|
88073 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-37429 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-7760 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
25964 | usd | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-92745 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-47740 | usd | |
us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
79618 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
197491 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
885940 | usd | |
LUCY |
Contract Assets And Liabilities
ContractAssetsAndLiabilities
|
-7908 | usd | |
LUCY |
Contract Assets And Liabilities
ContractAssetsAndLiabilities
|
-2080 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4796361 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4425294 | usd | |
LUCY |
Purchases Of Debt Securities
PurchasesOfDebtSecurities
|
4895184 | usd | |
LUCY |
Purchases Of Debt Securities
PurchasesOfDebtSecurities
|
1949204 | usd | |
LUCY |
Loan Made To Tekcapital Europe Ltd.See Note6
LoanMadeToTekcapitalEuropeLtd.SeeNote6
|
767940 | usd | |
LUCY |
Repayment Of Amounts Loaned To Tekcapital Europe Ltd.See Note6
RepaymentOfAmountsLoanedToTekcapitalEuropeLtd.SeeNote6
|
-767940 | usd | |
LUCY |
Payment To Acquire Patent Costs
PaymentToAcquirePatentCosts
|
169804 | usd | |
LUCY |
Payment To Acquire Patent Costs
PaymentToAcquirePatentCosts
|
154752 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
35748 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
104722 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5100736 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-2208678 | usd | |
LUCY |
Proceeds From Offerings Of Common Stock And Warrants
ProceedsFromOfferingsOfCommonStockAndWarrants
|
2871351 | usd | |
LUCY |
Proceeds From Offerings Of Common Stock And Warrants
ProceedsFromOfferingsOfCommonStockAndWarrants
|
4115688 | usd | |
LUCY |
Proceeds From Atthemarket Offerings Of Common Stock
ProceedsFromAtthemarketOfferingsOfCommonStock
|
3723134 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
3803877 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
3127718 | usd | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
17650 | usd | |
us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
109499 | usd | |
LUCY |
Repayment Of Amounts Due To Tekcapital And Affiliates
RepaymentOfAmountsDueToTekcapitalAndAffiliates
|
244886 | usd | |
LUCY |
Repayment Of Amounts Due To Tekcapital And Affiliates
RepaymentOfAmountsDueToTekcapitalAndAffiliates
|
205026 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
10153476 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6946531 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
256379 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
312559 | usd | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4287447 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3591109 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4543826 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3903668 | usd |
LUCY |
Expenses Paid For By Parent Reported As Increase In Due To Parent And Affiliates And Related Party Convertible Debt
ExpensesPaidForByParentReportedAsIncreaseInDueToParentAndAffiliatesAndRelatedPartyConvertibleDebt
|
217368 | usd | |
LUCY |
Expenses Paid For By Parent Reported As Increase In Due To Parent And Affiliates And Related Party Convertible Debt
ExpensesPaidForByParentReportedAsIncreaseInDueToParentAndAffiliatesAndRelatedPartyConvertibleDebt
|
222459 | usd | |
LUCY |
Issuance Of Shares From Conversion Of Related Party Convertible Debt
IssuanceOfSharesFromConversionOfRelatedPartyConvertibleDebt
|
81900 | usd | |
LUCY |
Issuance Of Shares For Prepayment To Brand Ambassador
IssuanceOfSharesForPrepaymentToBrandAmbassador
|
21690 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_80A_eus-gaap--NatureOfOperations_zUdWN1ItN56j" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 – <span id="xdx_82C_z5YYmA3WYMfl">GENERAL INFORMATION</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Innovative Eyewear, Inc. (the “Company,” “us,” “we,” or “our”) is a corporation organized under the laws of the State of Florida that develops and sells cutting-edge eyeglasses and sunglasses, which are designed to allow our customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. The Company was founded by Lucyd Ltd., a portfolio company of Tekcapital Plc through Tekcapital Europe, Ltd. (collectively, together with Lucyd Ltd., “Tekcapital and Affiliates”), which owned approximately 10.8% of our issued and outstanding shares of common stock as of September 30, 2024. Innovative Eyewear has licensed the exclusive rights to the Lucyd<sup>®</sup> brand from Lucyd Ltd., which includes the exclusive use of all of Lucyd’s intellectual property, including our main product, Lucyd Lyte<sup>®</sup> glasses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_847_eus-gaap--UseOfEstimates_zsBZfWecMpp6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_865_z7gPtwKzNSYe">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with 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 those estimates, particularly given the significant uncertainties associated with the current geopolitical and economic environment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | ||
us-gaap |
Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
|
4895184 | usd | |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
6116 | usd | |
LUCY |
Schedule Of Allowance For Doubtful Accounts Table Text Blok
ScheduleOfAllowanceForDoubtfulAccountsTableTextBlok
|
<table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfAllowanceForDoubtfulAccountsTableTextBlok_zrNnIk1HxdT2" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left"><span style="display: none"><span id="xdx_8B1_zvoORaNeXHzg">Schedule of allowance for doubtful accounts</span></span></td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td style="text-align: right"> </td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; font-weight: bold; text-align: left"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td> <td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; width: 76%; vertical-align: top">Balance at January 1</td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98D_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_pp0p0_c20240101__20240930_zpGiJCUk4IOd" style="width: 9%; text-align: right" title="Balance at begining">25,772</td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td> <td id="xdx_98C_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iS_pp0p0_c20230101__20230930_zorhFVtMNNT5" style="width: 9%; text-align: right" title="Balance at begining">92,646</td> <td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Bad debt expense (recovery)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--ProvisionForDoubtfulAccounts_c20240101__20240930_pp0p0" style="text-align: right" title="Bad debt expense (recovery)">(2,605</td> <td style="text-align: left">)</td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_98F_eus-gaap--ProvisionForDoubtfulAccounts_c20230101__20230930_pp0p0" style="text-align: right" title="Bad debt expense (recovery)">19,879</td> <td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; text-align: left">Write-offs<sup>(1)</sup></td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_980_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_pp0p0_di_c20240101__20240930_fKDEp_zKnCmgpEgZr1" style="text-align: right" title="Write-offs"><span style="-sec-ix-hidden: xdx2ixbrl0628">-</span></td> <td style="text-align: left"> </td> <td> </td> <td style="text-align: left"> </td> <td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_pp0p0_di_c20230101__20230930_fKDEp_zRLwj2audPCl" style="text-align: right" title="Write-offs">(47,813</td> <td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; text-align: left">Other<sup>(1)</sup></td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_986_ecustom--AllowanceForDoubtfulAccountsReceivableOther_pp0p0_c20240101__20240930_fKDEp_z5usOhYbpGy1" style="border-bottom: Black 1pt solid; text-align: right" title="Other">218</td> <td style="padding-bottom: 1pt; text-align: left"> </td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td> <td id="xdx_988_ecustom--AllowanceForDoubtfulAccountsReceivableOther_pp0p0_c20230101__20230930_fKDEp_zKDJibu1RhHi" style="border-bottom: Black 1pt solid; text-align: right" title="Other">(45,000</td> <td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2.5pt; vertical-align: top; text-align: left">Balance at September 30</td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_98A_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_pp0p0_c20240101__20240930_zcaWdseYEfW4" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at end">23,385</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td> <td id="xdx_981_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iE_pp0p0_c20230101__20230930_zhLXRia7Npx5" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance at end">19,712</td> <td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <div style="width: 25%"><div style="border-top: Black 1pt solid; font-size: 1pt"> </div></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"></td> <td id="xdx_F0F_zHgwjIVqBfwc" style="width: 0.25in; text-align: left">(1)</td> <td id="xdx_F19_zlyynrf8f3Y7" style="text-align: justify">During the nine months ended September 30, 2023, the Company entered into a settlement agreement with a former wholesale customer. As a result of this settlement, $47,646 of accounts receivable were written-off as uncollectible, while the $45,000 collected under the settlement agreement was reflected as a gain within general and administrative expenses in the condensed statement of operations.</td> </tr> </table> | ||
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
25772 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
92646 | usd |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-2605 | usd | |
us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
19879 | usd | |
us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
47813 | usd | |
LUCY |
Allowance For Doubtful Accounts Receivable Other
AllowanceForDoubtfulAccountsReceivableOther
|
218 | usd | |
LUCY |
Allowance For Doubtful Accounts Receivable Other
AllowanceForDoubtfulAccountsReceivableOther
|
-45000 | usd | |
CY2024Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
23385 | usd |
CY2023Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
19712 | usd |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | usd | |
CY2023 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
31637 | usd |
CY2024Q3 | LUCY |
Inventory Prepayment
InventoryPrepayment
|
139065 | usd |
CY2023Q4 | LUCY |
Inventory Prepayment
InventoryPrepayment
|
323520 | usd |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
22500 | usd | |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
22500 | usd | |
CY2024Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
2513 | usd |
CY2024Q1 | LUCY |
Restocking Fee
RestockingFee
|
15 | usd |
CY2024Q3 | LUCY |
Allowance For Sales Returns
AllowanceForSalesReturns
|
5302 | usd |
CY2023Q4 | LUCY |
Allowance For Sales Returns
AllowanceForSalesReturns
|
40933 | usd |
CY2024Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
CY2024Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
271573 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
235825 | usd |
CY2024Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
164884 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
80977 | usd |
CY2024Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
106689 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
154848 | usd |
CY2024Q3 | us-gaap |
Depreciation
Depreciation
|
23956 | usd |
CY2023Q3 | us-gaap |
Depreciation
Depreciation
|
17017 | usd |
us-gaap |
Depreciation
Depreciation
|
83907 | usd | |
us-gaap |
Depreciation
Depreciation
|
45996 | usd | |
CY2024Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
499036 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
329232 | usd |
CY2024Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
68002 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
42803 | usd |
CY2024Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
431034 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
286429 | usd |
CY2024Q3 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
9902 | usd |
CY2023Q3 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
2214 | usd |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
25199 | usd | |
us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
20030 | usd | |
CY2023Q1 | us-gaap |
Convertible Debt Current
ConvertibleDebtCurrent
|
61356 | usd |
CY2023Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
48143 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
436000 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
834000 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1290000 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1543000 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
9907000 | usd |
CY2024Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
14010000 | usd |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
144726 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
41.60 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y2M19D | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
500 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
8.40 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
50426 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
42.13 | ||
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
94800 | shares |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
41.15 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y3M18D | ||
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
64816 | shares |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
52.60 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P1Y7M9D | ||
CY2024Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
100000 | usd |
us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
495309 | usd | |
CY2024Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2024Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | usd |
CY2024Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
193000 | usd |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y1M6D | ||
CY2024Q3 | us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
5075 | usd |
us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
15225 | usd | |
CY2024Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
|
3383 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
81900 | usd |
CY2024Q3 | LUCY |
Stock Grants Expenses
StockGrantsExpenses
|
40950 | usd |
LUCY |
Stock Grants Expenses
StockGrantsExpenses
|
81900 | usd | |
CY2024Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2024Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2024Q2 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
2828 | shares |
CY2024Q2 | us-gaap |
Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
|
13000 | usd |
CY2024Q2 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
12000 | usd |
CY2024Q3 | LUCY |
Description Of Warrant Exercise
DescriptionOfWarrantExercise
|
one of the holders of the Series A and Series B warrants exercised an aggregate of 40,000 warrants on a cashless basis and received 20,482 shares of common stock. | |
CY2024Q3 | LUCY |
Description Of Warrant Exercise
DescriptionOfWarrantExercise
|
one of the holders of the warrants issued in connection with the First Registered Direct Offering elected to exercise their warrants to purchase an aggregate of 61,475 shares of common stock. The Company received approximately $300,000 of gross proceeds from this exercise. | |
CY2024Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1569840 | shares |
LUCY |
Release Payment
ReleasePayment
|
325000 | usd | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1720677 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1551105 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5640387 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4269717 | usd | |
CY2024Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1736803 | shares |
CY2024Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1736803 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
747416 | shares |
CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
747416 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
1178768 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
1178768 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
586807 | shares | |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
586807 | shares | |
CY2024Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.99 | |
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.99 | |
CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.08 | |
CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-2.08 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-4.78 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-4.78 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-7.28 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-7.28 | ||
CY2024Q3 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |