$LUVU
Luvu Brands, Inc.

2022 Q2 Form 10-Q Financial Statement

#000165495422006898 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $6.179M $6.753M $7.186M
YoY Change 5.75% 9.25% 25.76%
Cost Of Revenue $5.048M $4.959M $5.609M
YoY Change 16.26% 11.82% 35.22%
Gross Profit $1.131M $1.794M $1.577M
YoY Change -24.65% 2.75% 0.7%
Gross Profit Margin 18.3% 26.57% 21.95%
Selling, General & Admin $1.213M $1.182M $1.248M
YoY Change 15.3% 4.69% 17.96%
% of Gross Profit 107.25% 65.89% 79.14%
Research & Development $26.59M $32.48M
YoY Change 9.72% 19.01%
% of Gross Profit 1482.22% 2059.73%
Depreciation & Amortization $79.00K $74.44K $77.83K
YoY Change 25.4% 38.84% 52.53%
% of Gross Profit 6.98% 4.15% 4.94%
Operating Expenses $1.292M $1.261M $1.326M
YoY Change 15.87% 6.59% 19.57%
Operating Profit -$161.0K $533.0K $251.0K
YoY Change -141.71% -5.33% -45.08%
Interest Expense -$81.00K -$81.00K -$84.00K
YoY Change -5.81% -13.83% -4.55%
% of Operating Profit -15.2% -33.47%
Other Income/Expense, Net -$81.00K -$84.00K
YoY Change -13.83% -108.33%
Pretax Income -$242.0K $452.0K $167.0K
YoY Change -180.67% -3.62% -88.6%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings -$242.0K $452.0K $167.0K
YoY Change -180.67% -3.62% -88.6%
Net Earnings / Revenue -3.92% 6.69% 2.32%
Basic Earnings Per Share $0.01 $0.00
Diluted Earnings Per Share -$3.184K $0.01 $0.00
COMMON SHARES
Basic Shares Outstanding 76.05M shares 75.94M shares 75.14M shares
Diluted Shares Outstanding 76.38M shares 76.61M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $859.0K $935.0K $1.081M
YoY Change -12.08% -26.38% 6.5%
Cash & Equivalents $859.0K $935.0K $1.081M
Short-Term Investments
Other Short-Term Assets $165.0K $175.0K $168.0K
YoY Change 13.79% 92.31% 93.1%
Inventory $3.817M $3.807M $3.456M
Prepaid Expenses $165.0K $175.0K $168.0K
Receivables $1.107M $1.351M $920.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.948M $6.268M $5.625M
YoY Change 5.33% 15.24% 24.81%
LONG-TERM ASSETS
Property, Plant & Equipment $2.029M $2.083M $1.863M
YoY Change 4.91% -52.55% -53.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K $100.0K
YoY Change 19.05% 17.65% 316.67%
Total Long-Term Assets $4.431M $4.566M $4.395M
YoY Change -3.65% 2.03% 9.41%
TOTAL ASSETS
Total Short-Term Assets $5.948M $6.268M $5.625M
Total Long-Term Assets $4.431M $4.566M $4.395M
Total Assets $10.38M $10.83M $10.02M
YoY Change 1.3% 9.28% 17.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.680M $2.579M $2.597M
YoY Change 0.41% -2.57% 2.89%
Accrued Expenses $545.0K $617.0K $528.0K
YoY Change -21.47% -21.3% -26.36%
Deferred Revenue
YoY Change
Short-Term Debt $1.295M $1.214M $1.065M
YoY Change
Long-Term Debt Due $323.0K $320.0K $296.0K
YoY Change -79.8% -85.48% -84.04%
Total Short-Term Liabilities $5.174M $5.040M $4.776M
YoY Change -0.73% -10.56% -6.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.183M $1.444M $1.258M
YoY Change -8.15% 91.51% 183.33%
Other Long-Term Liabilities $2.068M $2.164M $2.256M
YoY Change -14.65% -13.61% -7.43%
Total Long-Term Liabilities $3.251M $3.608M $3.514M
YoY Change -12.4% 10.71% 21.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.174M $5.040M $4.776M
Total Long-Term Liabilities $3.251M $3.608M $3.514M
Total Liabilities $8.425M $8.648M $8.290M
YoY Change -5.58% -2.77% 3.92%
SHAREHOLDERS EQUITY
Retained Earnings -$4.989M -$4.747M -$5.199M
YoY Change -10.8%
Common Stock $760.0K $759.0K $752.0K
YoY Change 1.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.954M $2.186M $1.730M
YoY Change
Total Liabilities & Shareholders Equity $10.38M $10.83M $10.02M
YoY Change 1.3% 9.28% 17.55%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$242.0K $452.0K $167.0K
YoY Change -180.67% -3.62% -88.6%
Depreciation, Depletion And Amortization $79.00K $74.44K $77.83K
YoY Change 25.4% 38.84% 52.53%
Cash From Operating Activities $124.0K -$181.0K $275.0K
YoY Change 254.29% -266.06% 3.38%
INVESTING ACTIVITIES
Capital Expenditures -$2.000K -$4.000K $4.000K
YoY Change -95.65% -95.18% -107.41%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.000K -$4.000K $4.000K
YoY Change -95.65% -95.18% -107.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -198.0K 39.00K -159.0K
YoY Change -29.79% -82.97% 23.26%
NET CHANGE
Cash From Operating Activities 124.0K -181.0K 275.0K
Cash From Investing Activities -2.000K -4.000K 4.000K
Cash From Financing Activities -198.0K 39.00K -159.0K
Net Change In Cash -76.00K -146.0K 120.0K
YoY Change -74.06% -157.25% 44.58%
FREE CASH FLOW
Cash From Operating Activities $124.0K -$181.0K $275.0K
Capital Expenditures -$2.000K -$4.000K $4.000K
Free Cash Flow $126.0K -$177.0K $271.0K
YoY Change 55.56% -192.19% -15.31%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardVestingPeriod1
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luvu Share Based Compensation Arrangements By Share Based Payment Award Award Vesting Period1
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us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">These consolidated financial statements include the accounts and operations of our wholly owned operating subsidiaries, OneUp and Foam Labs. Intercompany accounts and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current year presentation.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">The accompanying consolidated condensed financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.  These consolidated condensed financial statements and notes should be read in conjunction with the Company’s consolidated financial statements contained in the Company’s 2021 10-K.</p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:35.45pt"> The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.  Significant estimates in these consolidated financial statements include estimates of: income taxes; tax valuation reserves; allowances for doubtful accounts; inventory valuation and reserves; share-based compensation; and useful lives for depreciation and amortization. Actual results could differ materially from these estimates.   </p>
CY2021Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
16965000 USD
CY2022Q1 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
17815000 USD
CY2022Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
1358000 USD
CY2022Q1 luvu Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
-1000 USD
CY2021Q2 luvu Allowance For Doubtful Accounts Receivables
AllowanceForDoubtfulAccountsReceivables
-1000 USD
CY2022Q1 luvu Allowance For Discounts And Returns
AllowanceForDiscountsAndReturns
-6000 USD
CY2022Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1351000 USD
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1134000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">The Company maintains its cash accounts with banks located in Georgia.  The total cash balances are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per bank. The Company had bank balances on deposit at March 31, 2022 that exceeded the balance insured by the FDIC by $711,244. Accounts receivable are typically unsecured and are derived from revenue earned from customers primarily located in North America and Europe.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">During the three and nine months ended March 31, 2022, we purchased 39% and 37% respectively, of total inventory purchases from one vendor.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">During the fiscal year ended June 30, 2021, we purchased 34% of total inventory purchases from one vendor.</p><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">As of March 31, 2022, two of the Company’s customers represents 44% and 11% of the total accounts receivables, respectively. As of June 30, 2021, two of the Company’s customers represents 40% and 14% of the total accounts receivables, respectively. For the three and nine months ended March 31, 2022, sales to and through Amazon accounted for 33% and 31% of our net sales, respectively.</p>
CY2022Q1 us-gaap Prepaid Advertising
PrepaidAdvertising
1050000 USD
CY2021Q2 us-gaap Prepaid Advertising
PrepaidAdvertising
5000000 USD
CY2022Q1 us-gaap Advertising Expense
AdvertisingExpense
132467000 USD
us-gaap Advertising Expense
AdvertisingExpense
419233000 USD
us-gaap Advertising Expense
AdvertisingExpense
369113000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
87396000 USD
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
80754000 USD
luvu Impairment Or Disposal Of Long Lived Assetspolicy
ImpairmentOrDisposalOfLongLivedAssetspolicy
<p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:0.5in">Long-lived assets to be held are reviewed for events or changes in circumstances which indicate that their carrying value may not be recoverable. They are tested for recoverability using undiscounted cash flows to determine whether or not impairment to such value has occurred as required by Financial Accounting Standards Board (“<em>FASB”) ASC Topic No. 360, Property, Plant, and Equipment</em>. The Company has determined that there was no impairment at March 31, 2022.</p>
CY2022Q1 luvu Rental Abatement
RentalAbatement
103230000 USD
CY2022Q1 us-gaap Capital Leases Contingent Rental Payments Due
CapitalLeasesContingentRentalPaymentsDue
51615000 USD
luvu Final Two Months Rent
FinalTwoMonthsRent
61605 USD
CY2022Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
163188000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
489564000 USD
CY2021Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
162053000 USD
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
338292000 USD
CY2022Q1 us-gaap Revenues
Revenues
6753000 USD
CY2021Q1 us-gaap Revenues
Revenues
6181000 USD
CY2021Q1 luvu Percent Change In Sales
PercentChangeInSales
0.09 pure
CY2022Q1 us-gaap Gross Profit
GrossProfit
1794000 USD
CY2022Q1 luvu Gross Profit Margin
GrossProfitMargin
0.27 pure
CY2021Q1 us-gaap Gross Profit
GrossProfit
1746000 USD
luvu Percent Change
PercentChange
0.28 pure
CY2022Q1 luvu Percent Change
PercentChange
0.03 pure
us-gaap Revenues
Revenues
20164000 USD
us-gaap Revenues
Revenues
17262000 USD
luvu Percent Change In Sales
PercentChangeInSales
0.17 pure
us-gaap Gross Profit
GrossProfit
4870000 USD
luvu Gross Profit Margin
GrossProfitMargin
0.24 pure
us-gaap Gross Profit
GrossProfit
4800000 USD
luvu Gross Profit Margin
GrossProfitMargin
0.28 pure
CY2021Q1 luvu Percent Change
PercentChange
0.01 pure
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1936000 USD
CY2021Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1637000 USD
us-gaap Depreciation
Depreciation
153313 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
498000 USD
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
396000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1546000 USD
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1531000 USD
CY2022Q1 us-gaap Inventory Gross
InventoryGross
3980000 USD
CY2021Q2 us-gaap Inventory Gross
InventoryGross
3564000 USD
CY2022Q1 luvu Inventory Valuation Reserve
InventoryValuationReserve
-173000 USD
CY2021Q2 luvu Inventory Valuation Reserve
InventoryValuationReserve
-173000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5650000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6700000 shares
CY2022Q1 us-gaap Inventory Net
InventoryNet
3807000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
3391000 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5987000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5620000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3904000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3686000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2083000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1934000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
74443 USD
CY2021Q1 us-gaap Depreciation
Depreciation
53618 USD
us-gaap Depreciation
Depreciation
222956 USD
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
419000 USD
CY2021Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
509000 USD
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
198000 USD
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
185000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
617000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1444000 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1288000 USD
CY2021Q2 us-gaap Other Notes Payable
OtherNotesPayable
853000 USD
CY2021Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
116000 USD
CY2022Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
116000 USD
CY2022Q1 us-gaap Unsecured Debt
UnsecuredDebt
28000 USD
CY2021Q2 us-gaap Unsecured Debt
UnsecuredDebt
37000 USD
CY2022Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1186000 USD
CY2021Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
1083000 USD
CY2021Q2 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
100000 USD
CY2022Q1 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
306000 USD
CY2021Q2 us-gaap Other Notes Payable Current
OtherNotesPayableCurrent
219000 USD
CY2021Q2 us-gaap Mediumterm Notes Current
MediumtermNotesCurrent
152000 USD
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
14000 USD
CY2021Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
8000 USD
CY2022Q1 us-gaap Debt Current
DebtCurrent
1534000 USD
CY2021Q2 us-gaap Debt Current
DebtCurrent
1599000 USD
CY2022Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
400000 USD
CY2021Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
300000 USD
CY2022Q1 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
28000 USD
CY2021Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
19000 USD
CY2022Q1 us-gaap Other Notes Payable
OtherNotesPayable
900000 USD
CY2022Q1 us-gaap Notes Payable Current
NotesPayableCurrent
0 USD
CY2021Q2 us-gaap Notes Payable Current
NotesPayableCurrent
100000 USD
CY2022Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
400000 USD
CY2021Q2 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
300000 USD
CY2022Q1 us-gaap Notes Payable
NotesPayable
400000 USD
CY2021Q2 us-gaap Notes Payable
NotesPayable
400000 USD
CY2021Q2 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
116000 USD
CY2022Q1 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
116000 USD
CY2021Q2 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
0 USD
CY2022Q1 luvu Notes Payable Related Parties Current
NotesPayableRelatedPartiesCurrent
0 USD
CY2022Q1 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
116000 USD
CY2021Q2 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
116000 USD
us-gaap Line Of Credit Facility Collateral
LineOfCreditFacilityCollateral
85% of eligible accounts receivable (as defined in the agreement) for the purpose of improving working capital
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
1.25 pure
CY2022Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.02 pure
CY2022Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2022Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
27879 USD
CY2021Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
36680 USD
us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
1096200 USD
CY2022Q1 us-gaap Federal Home Loan Bank Advances Interest Rate
FederalHomeLoanBankAdvancesInterestRate
0.01 pure
us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
61691 USD
luvu Gain On Forgiveness Of Sba Loan
GainOnForgivenessOfSbaLoan
1096200 USD
luvu Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P6Y
luvu Weighted Average Discount Rate
WeightedAverageDiscountRate
0.1449 pure
CY2022Q1 luvu Operating Lease Right Of Use Asset Current
OperatingLeaseRightOfUseAssetCurrent
2334000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
310000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2164000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2474000 USD
luvu Maturities Of Lease Liabilities
MaturitiesOfLeaseLiabilities
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;margin-left:auto;margin-right:auto;width:85%"><tbody><tr style="height:15px"><td style="BORDER-BOTTOM: 1px solid;vertical-align:bottom;"><p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Payments</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>(in thousands)</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:34.8pt">2022</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">156</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:34.8pt">2023</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">642</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:34.8pt">2024</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">680</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:34.8pt">2025</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">721</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:34.8pt">2026 and thereafter</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">1,290</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Total undiscounted lease payments</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">3,489</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">           Less: Present value discount</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">(1,015 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px;text-indent:36.7pt">Total lease liability balance</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: 3px double;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: 3px double;width:9%;vertical-align:bottom;text-align:right;">2,474</td><td style="PADDING-BOTTOM: 3px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
156000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
642000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
680000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
721000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1290000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due In Rolling After Year Five
OperatingLeasesFutureMinimumPaymentsDueInRollingAfterYearFive
3489000 USD
CY2022Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
-1015000 USD
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2474000 USD
CY2021Q4 luvu Equipment Notes Payable
EquipmentNotesPayable
1761393 USD
CY2022Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
99000 USD
CY2022Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
382000 USD
CY2022Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
361000 USD
CY2022Q1 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
316000 USD
CY2022Q1 us-gaap Contractual Obligation Due In Fifth Year
ContractualObligationDueInFifthYear
198000 USD
CY2022Q1 luvu Twentythousand Twenty Seven
TwentythousandTwentySeven
37000 USD
CY2022Q1 luvu Future Minimum Lease Payments
FutureMinimumLeasePayments
1393000 USD
CY2022Q1 luvu Amount Representing Interest
AmountRepresentingInterest
-187000 USD
CY2022Q1 us-gaap Contractual Obligation
ContractualObligation
1206000 USD
CY2022Q1 luvu Other Note Payable Current
OtherNotePayableCurrent
-306000 USD
CY2022Q1 us-gaap Other Notes Payable
OtherNotesPayable
900000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2350000 shares
luvu Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbegining Balance
SharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberbeginingBalance
2500000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y10M24D
luvu Weighted Average Exercise Price Outstanding Begining Balance
WeightedAverageExercisePriceOutstandingBeginingBalance
0.04
luvu Aggregate Intrinsic Vale Options Outstanding Beginning Balance
AggregateIntrinsicValeOptionsOutstandingBeginningBalance
974300 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
50000 shares
luvu Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Granted
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGranted
P4Y7M6D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.30
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1050000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
150000 shares
luvu Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term3
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3
P2Y10M24D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0.03
luvu Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumber Ending Balance
SharebasedcompensationarrangementbysharebasedpaymentawardoptionsoutstandingnumberEndingBalance
1350000 shares
luvu Weighted Average Remaining Contractual Life Ending
WeightedAverageRemainingContractualLifeEnding
P1Y10M24D
luvu Weighted Average Exercise Price Outstanding Ending Balance
WeightedAverageExercisePriceOutstandingEndingBalance
0.06
luvu Aggregate Intrinsic Vale Options Outstanding Ending Balance
AggregateIntrinsicValeOptionsOutstandingEndingBalance
179615 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
875000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.03
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
138765 USD
CY2022Q1 luvu Stock Options Exercised
StockOptionsExercised
1050000 shares
CY2020Q1 luvu Stock Options Exercised
StockOptionsExercised
1600000 shares
CY2021Q1 luvu Stock Options Exercised
StockOptionsExercised
250000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
0.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
5 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0065 pure
luvu Forfeiture Rate
ForfeitureRate
0 pure
luvu Forfeiture Rate
ForfeitureRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P4Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P4Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.03
CY2022Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
1350000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y10M24D
CY2022Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
0.06
CY2022Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
875000 shares
luvu Sharebased Compensation Not Yet Recognized
SharebasedCompensationNotYetRecognized
39348 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12000 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
2350000 shares
CY2022Q1 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
4300000 shares
CY2022Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6650000 shares

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