2020 Form 10-K Financial Statement

#000121390021014481 Filed on March 10, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019
Revenue $5.984M $1.610M $6.646M
YoY Change -9.96% -31.78% -22.16%
Cost Of Revenue $1.078M $450.0K $683.0K
YoY Change 57.83% 0.0% -25.84%
Gross Profit $4.906M $1.170M $5.963M
YoY Change -17.73% -39.06% -21.71%
Gross Profit Margin 81.99% 72.67% 89.72%
Selling, General & Admin $6.958M $2.260M $6.454M
YoY Change 7.81% -97.58% 3.83%
% of Gross Profit 141.83% 193.16% 108.23%
Research & Development $4.139M $1.360M $5.239M
YoY Change -21.0% 5.43% -0.74%
% of Gross Profit 84.37% 116.24% 87.86%
Depreciation & Amortization $767.0K $210.0K $855.0K
YoY Change -10.29% -4.55% -15.18%
% of Gross Profit 15.63% 17.95% 14.34%
Operating Expenses $11.10M $3.610M $11.69M
YoY Change -5.1% -96.19% 1.73%
Operating Profit -$6.191M -$2.440M -$5.730M
YoY Change 8.05% -97.37% 47.79%
Interest Expense $27.00K -$120.0K $34.00K
YoY Change -20.59% -100.13% -30.61%
% of Operating Profit
Other Income/Expense, Net -$32.00K $0.00 -$34.00K
YoY Change -5.88% -34.62%
Pretax Income -$6.223M -$2.570M -$5.764M
YoY Change 7.96% 179.35% 46.7%
Income Tax $59.00K $20.00K $38.00K
% Of Pretax Income
Net Earnings -$6.282M -$2.589M -$5.298M
YoY Change 18.57% 182.95% 73.14%
Net Earnings / Revenue -104.98% -160.81% -79.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$561.6K -$265.6K -$599.5K
COMMON SHARES
Basic Shares Outstanding 9.989K shares 8.811M shares 8.844M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.47M $2.360M $2.360M
YoY Change 343.64% -64.02% -64.02%
Cash & Equivalents $2.357M
Short-Term Investments
Other Short-Term Assets $730.0K $226.0K $510.0K
YoY Change 43.14% -1.74% -28.17%
Inventory $1.270M $1.030M $1.030M
Prepaid Expenses
Receivables $1.740M $1.324M $1.320M
Other Receivables $440.0K $0.00 $220.0K
Total Short-Term Assets $14.65M $5.434M $5.430M
YoY Change 169.8% -48.22% -48.24%
LONG-TERM ASSETS
Property, Plant & Equipment $1.920M $1.583M $2.000M
YoY Change -4.0% -36.27% -19.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $1.920M $2.002M $2.010M
YoY Change -4.48% 667.05% -26.91%
TOTAL ASSETS
Total Short-Term Assets $14.65M $5.434M $5.430M
Total Long-Term Assets $1.920M $2.002M $2.010M
Total Assets $16.57M $7.436M $7.440M
YoY Change 122.72% -43.85% -43.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.080M $555.0K $560.0K
YoY Change 92.86% 10.78% 12.0%
Accrued Expenses $2.220M $541.0K $1.830M
YoY Change 21.31% 104.15% 56.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $770.0K $570.0K $570.0K
YoY Change 35.09% 0.0% 0.0%
Total Short-Term Liabilities $4.210M $3.023M $3.020M
YoY Change 39.4% 30.7% 30.74%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $510.0K $510.0K
YoY Change -80.39% -54.87% -54.87%
Other Long-Term Liabilities $380.0K $58.00K $60.00K
YoY Change 533.33%
Total Long-Term Liabilities $480.0K $58.00K $570.0K
YoY Change -15.79% -49.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.210M $3.023M $3.020M
Total Long-Term Liabilities $480.0K $58.00K $570.0K
Total Liabilities $1.460M $3.589M $1.040M
YoY Change 40.38% 4.15% -25.71%
SHAREHOLDERS EQUITY
Retained Earnings -$190.5M
YoY Change 2.86%
Common Stock $9.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.11M $6.393M $6.390M
YoY Change
Total Liabilities & Shareholders Equity $16.57M $7.436M $7.440M
YoY Change 122.72% -43.85% -43.81%

Cashflow Statement

Concept 2020 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$6.282M -$2.589M -$5.298M
YoY Change 18.57% 182.95% 73.14%
Depreciation, Depletion And Amortization $767.0K $210.0K $855.0K
YoY Change -10.29% -4.55% -15.18%
Cash From Operating Activities -$5.752M -$650.0K -$3.517M
YoY Change 63.55% 12.07% 23.02%
INVESTING ACTIVITIES
Capital Expenditures $60.00K $0.00 $89.00K
YoY Change -32.58% -100.0% -62.29%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$58.00K $0.00 -$89.00K
YoY Change -34.83% -100.0% -61.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $36.00K
YoY Change -100.0% -99.22%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $13.61M -100.0K -$499.0K
YoY Change -2827.66% -102.23% -112.26%
NET CHANGE
Cash From Operating Activities -$5.752M -650.0K -$3.517M
Cash From Investing Activities -$58.00K 0.000 -$89.00K
Cash From Financing Activities $13.61M -100.0K -$499.0K
Net Change In Cash $8.116M -750.0K -$4.198M
YoY Change -293.33% -119.48% -529.24%
FREE CASH FLOW
Cash From Operating Activities -$5.752M -$650.0K -$3.517M
Capital Expenditures $60.00K $0.00 $89.00K
Free Cash Flow -$5.812M -$650.0K -$3.606M
YoY Change 61.18% 25.0% 16.51%

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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89000 usd
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
36000 usd
CY2020 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
13530000 usd
CY2019 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
CY2020 neond Preferred Dividends
PreferredDividends
33000 usd
CY2019 neond Preferred Dividends
PreferredDividends
usd
CY2020 neond Proceeds From Shortterm Borrowings
ProceedsFromShorttermBorrowings
966000 usd
CY2019 neond Proceeds From Shortterm Borrowings
ProceedsFromShorttermBorrowings
usd
CY2020 neond Proceeds From Short Term Borrowings
ProceedsFromShortTermBorrowings
542000 usd
CY2019 neond Proceeds From Short Term Borrowings
ProceedsFromShortTermBorrowings
usd
CY2020 neond Payments On Short Term Borrowings
PaymentsOnShortTermBorrowings
516000 usd
CY2019 neond Payments On Short Term Borrowings
PaymentsOnShortTermBorrowings
usd
CY2020 neond Payments On Short Term Tax Credits
PaymentsOnShortTermTaxCredits
557000 usd
CY2019 neond Payments On Short Term Tax Credits
PaymentsOnShortTermTaxCredits
usd
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
321000 usd
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
535000 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13611000 usd
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-499000 usd
CY2020 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
315000 usd
CY2019 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-93000 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8116000 usd
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4198000 usd
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6555000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
27000 usd
CY2019 us-gaap Interest Paid Net
InterestPaidNet
34000 usd
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
59000 usd
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
38000 usd
CY2020 neond Shortterm Borrowings Settled For Preferred Stock
ShorttermBorrowingsSettledForPreferredStock
516000 usd
CY2019 neond Shortterm Borrowings Settled For Preferred Stock
ShorttermBorrowingsSettledForPreferredStock
usd
CY2020 neond Rightofuse Asset Obtained In Exchange For Lease Obligation
RightofuseAssetObtainedInExchangeForLeaseObligation
864000 usd
CY2019 neond Rightofuse Asset Obtained In Exchange For Lease Obligation
RightofuseAssetObtainedInExchangeForLeaseObligation
usd
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif"><b>1.</b></font></td> <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Nature of the Business and Operations</b></font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><b>Background and Organization</b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Neonode Inc. (&#x201c;we&#x201d;, &#x201c;us&#x201d;, &#x201c;our&#x201d;, or the &#x201c;Company&#x201d;) was incorporated in the State of Delaware in 1997 as the parent of Neonode AB, a company founded in February 2004 and incorporated in Sweden. We have the following wholly owned subsidiaries: Neonode Technologies AB (Sweden) (established in 2008 to develop and license touchscreen technology); Neonode Japan Inc. (Japan) (established in 2013); Neonode Korea Ltd. (South Korea) (established in 2014); and Neonode Taiwan Ltd. (Taiwan) (established in 2015). In 2015, we established Pronode Technologies AB, a majority-owned subsidiary of Neonode Technologies AB. In 2016, we entered into a joint venture, named Neoeye AB, between SMART EYE AB and our subsidiary Neonode Technologies AB (sold November 4, 2020).</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in"><b><i>Operations</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Neonode Inc., collectively with its subsidiaries is referred to as &#x201c;Neonode&#x201d;, develops optical touch and gesture control solutions for human interaction with devices (&#x201c;HMI&#x201d;) and remote sensing solutions for driver monitoring and cabin monitoring features in automotive and other applications.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Neonode&#x2019;s main business model is to license the technology to Original Equipment Manufacturers (&#x201c;OEMs&#x201d;) and Tier 1 system suppliers who embed the technology into systems and products they develop, manufacture and sell.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">In addition, Neonode designs and manufactures sensor modules that incorporate our zForce AIR technology and sells the embedded sensors to OEMs, Original Design Manufacturers (&#x201c;ODMs&#x201d;) and Tier 1 suppliers for use in their systems and products. Neonode began shipping sensor modules in October 2017.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Neonode also manufactures and sells through distributors, a Neonode branded AirBar product that incorporates one of the sensor modules.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in"><b><i>Liquidity</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We incurred net losses of approximately $5.6 million and $5.3 million for the years ended December 31, 2020 and 2019, respectively, and had an accumulated deficit of approximately $196.2 million as of December 31, 2020. In addition, we used cash in operating activities of approximately $5.8 million and $3.5 million for the years ended December 31, 2020 and 2019, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 17, 2020, we entered into short-term loan facilities (the &#x201c;Loan Agreements&#x201d;) with two entities beneficially owned respectively by each of Ulf Rosberg and Peter Lindell, Directors of Neonode. Pursuant to the Loan Agreements, each Director made 16,145,000 SEK (Swedish Krona), which is approximately $1.7 million in U.S. dollars, principal amount available to the Company. The Company made an initial drawdown of an aggregate of approximately $1.0 million under the Loan Agreements. See Note 6 to our consolidated financial statements for additional details on the Loan Agreements.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On August 7, 2020, we closed a private placement (the &#x201c;August 2020 Private Placement&#x201d;) with certain institutional and accredited investors. We issued a total of 1,611,845 shares of common stock at a price of $6.50 per share, and a total of 365 shares of Series C-1 Preferred Stock and 3,050 shares of Series C-2 Preferred Stock, each with a conversion price of $6.50 per share and a stated value of $1,000 per share, for approximately $13.9 million in gross proceeds. The net proceeds from the private placement are being used for working capital purposes.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Ulf Rosberg and Peter Lindell, directors of Neonode, and Urban Forssell, our Chief Executive Officer, purchased an aggregate of $3.05 million of the Series C-2 Preferred Stock in the August 2020 Private Placement.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We issued 517 shares of Series C-2 Preferred Stock to UMR Invest AB, an entity beneficially owned by Ulf Rosberg, in satisfaction of the outstanding indebtedness and accrued interest under the Loan Agreement with UMR Invest AB. Cidro F&#xf6;rvaltning AB, an entity associated with Mr. Lindell purchased 517 shares of Series C-2 Preferred Stock. Following the closing, we used the proceeds from the sale of Series C-2 Preferred Stock to Cidro F&#xf6;rvaltning AB to satisfy the outstanding indebtedness and accrued interest under the Loan Agreement with Cidro Holding AB. As a result of the repayments to each of UMR Invest AB and Cidro Holding AB, the Loan Agreements terminated in accordance with their terms.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the terms and the provisions of the Securities Purchase Agreement, all 365 shares of Series C-1 Preferred Stock and 4,084 shares of Series C-2 Preferred Stock (together, the &#x201c;Series C Preferred Shares&#x201d;) were converted into 684,378 shares of Neonode common stock on September 24 and 29, 2020, respectively.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to their conversion, the holders of the Series C Preferred Shares were entitled to receive dividends at the rate per share of 5% per annum, totaling $33,000. As of December 31, 2020, all of the preferred dividends have been paid.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We entered into a Registration Rights Agreement (the &#x201c;Registration Rights Agreement&#x201d;) with the investors in the August 2020 Private Placement, pursuant to which we filed a registration statement with the Securities and Exchange Commission (the &#x201c;SEC&#x201d;) relating to the offer and sale by the holders of the shares of common stock sold in the private placement, and the shares of common stock issuable upon conversion of the Series C Preferred Shares. The registration statement was declared effective by the SEC on September 18, 2020. Failure to maintain the effectiveness of the registration statement will subject us to payment for liquidated damages.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with the August 2020 Private Placement, we incurred total offering costs of $879,000, which were netted with the gross proceeds.&#xa0;</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The consolidated financial statements included herein have been prepared on a going concern basis, which contemplates continuity of operations and the realization of assets and the repayment of liabilities in the ordinary course of business. Management evaluated the significance of the Company&#x2019;s operating loss and determined that the Company&#x2019;s cash position after the Private Placement, current operating plan and sources of potential capital would be sufficient to alleviate concerns about the Company&#x2019;s ability to continue as a going concern.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">We expect our revenues from our three business areas will enable us to reduce our operating losses in coming years. In addition, we intend to continue to implement various measures to improve our operational efficiencies. No assurances can be given that management will be successful in meeting its revenue targets and reducing its operating loss.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">In the future, we may require sources of capital in addition to cash on hand to continue operations and to implement our strategy. If our operations do not become cash flow positive, we may be forced to seek equity investments or debt arrangements. No assurances can be given that we will be successful in obtaining such additional financing on reasonable terms, or at all. If adequate funds are not available on acceptable terms, or at all, we may be unable to adequately fund our business plans and it could have a negative effect on our business, results of operations and financial condition. In addition, if funds are available, the issuance of equity securities or securities convertible into equity could dilute the value of shares of our common stock and cause the market price to fall, and the issuance of debt securities could impose restrictive covenants that could impair our ability to engage in certain business transactions.</p><br/>
CY2020 neond Net Losses
NetLosses
-5600000 usd
CY2019 neond Net Losses
NetLosses
-5300000 usd
CY2019Q4 us-gaap Retained Earnings Appropriated
RetainedEarningsAppropriated
-196200000 usd
CY2020 neond Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
-5800000 usd
CY2019 neond Net Cash Provided By Used In Operating Activity
NetCashProvidedByUsedInOperatingActivity
-3500000 usd
CY2020Q2 srt Bank Loans
BankLoans
16145000000 sek
CY2020Q2 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
1700000 usd
CY2020Q2 neond Approximately Aggregate
ApproximatelyAggregate
1000000 usd
CY2020Q3 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
We entered into a Registration Rights Agreement (the &#x201c;Registration Rights Agreement&#x201d;) with the investors in the August 2020 Private Placement, pursuant to which we filed a registration statement with the Securities and Exchange Commission (the &#x201c;SEC&#x201d;) relating to the offer and sale by the holders of the shares of common stock sold in the private placement, and the shares of common stock issuable upon conversion of the Series C Preferred Shares.
CY2020 us-gaap Minority Interest Description
MinorityInterestDescription
Neonode consolidates entities in which it has a controlling financial interest. We consolidate subsidiaries in which we hold, directly or indirectly, more than 50% of the voting rights.
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.25in"><b><i>Estimates</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">The preparation of financial statements in conformity with U.S. GAAP requires making estimates and judgments that affect, at the date of the financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates and judgments.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Significant estimates and judgments include, but are not limited to: for revenue recognition, determining the nature and timing of satisfaction of performance obligations, the standalone selling price of performance obligations, and transaction prices and assessing transfer of control; measuring variable consideration and other obligations such as product returns and refunds, and product warranties; provisions for uncollectible receivables; determining the net realizable value of inventory; recoverability of capitalized project costs and long-lived assets; for leases, determining whether a contract contains a lease, allocating consideration between lease and non-lease components, determining incremental borrowing rates, and identifying reassessment events, such as modifications; the valuation allowance related to our deferred tax assets; and the fair value of options issued for stock-based compensation.</p>
CY2020 neond Insurance Coverage Description
InsuranceCoverageDescription
For deposits held with financial institutions in the U.S., the U.S. Federal Deposit Insurance Corporation, provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. At times, deposits held with financial institutions may exceed the amount of insurance provided.
CY2020Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
79000000 usd
CY2019Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
85000000 usd
CY2020 neond Projects In Process
ProjectsInProcess
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><b><i>Projects in Process </i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. There were no costs capitalized in projects in process as of December 31, 2020. Costs capitalized in projects in process were $8,000 as of December 31, 2019.</p>
CY2019 us-gaap Environmental Costs Recognized Capitalized In Period
EnvironmentalCostsRecognizedCapitalizedInPeriod
8000 usd
CY2020Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
3000000 usd
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.50 pure
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.25in"><b><i>Concentration of Credit and Business Risks</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our customers are located in the United States, Europe and Asia.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of December 31, 2020, four customers represented approximately 62% of our consolidated accounts receivable and unbilled revenues.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">As of December 31, 2019, three customers represented approximately 72% of our consolidated accounts receivable and unbilled revenues.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Customers who accounted for 10% or more of our net revenues during the year ended December 31, 2020 are as follows.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px">&#xa0;</td> <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Hewlett-Packard Company &#x2013; 27%</font></td></tr> <tr style="vertical-align: top"> <td>&#xa0;</td> <td>&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: top"> <td>&#xa0;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Epson &#x2013; 19%</font></td></tr> <tr style="vertical-align: top"> <td>&#xa0;</td> <td>&#xa0;</td> <td>&#xa0;</td></tr> <tr style="vertical-align: top"> <td>&#xa0;</td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">Alpine &#x2013; 11%</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Customers who accounted for 10% or more of our net revenues during the year ended December 31, 2019 are as follows.</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="text-align: left; width: 48px">&#xa0;</td> <td style="text-align: left; width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Hewlett-Packard Company &#x2013; 38%</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: left">&#xa0;</td> <td style="text-align: left">&#xa0;</td> <td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left">&#xa0;</td> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Epson &#x2013; 16%</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: left">&#xa0;</td> <td style="text-align: left">&#xa0;</td> <td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left">&#xa0;</td> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">&#x25cf;</font></td> <td style="text-align: left"><font style="font: 10pt Times New Roman, Times, Serif">Alpine &#x2013; 15%</font></td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company conducts business in the United States, Europe and Asia. At December 31, 2020, the Company maintained approximately $6,923,000, $4,903,000 and $64,000 of its net assets in the United States, Europe and Asia, respectively. At December 31, 2019, the Company maintained approximately $2,637,000, $1,148,000 and $62,000 of its net assets in the United States, Europe and Asia, respectively.</p>
CY2020 neond Revenue Recognition Deferred Revenues
RevenueRecognitionDeferredRevenues
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><b><i>Deferred Revenues</i></b></p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">Deferred revenues consist primarily of prepayments for license fees, and other products or services for which we have been paid in advance, and earn the revenue when we transfer control of the product or service. Deferred revenues may also include upfront payments for consulting services to be performed in the future, such as non-recurring engineering services.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">We defer license fees until we have met all accounting requirements for revenue recognition, which is when a license is made available to a customer and that customer has a right to use the license. Engineering development fee revenues are deferred until engineering services have been completed and accepted by our customers.</p><br/><p style="font: 10pt Times New Roman, Times, Serif; text-align: left; margin: 0pt 0; text-indent: 0.5in">The following table presents our deferred revenues by source (in thousands):</p><br/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap">&#xa0;</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center">As of <br/>December 31,</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap">&#xa0;</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center">2020</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td> <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center">2019</td><td style="white-space: nowrap; padding-bottom: 1.5pt">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left">Deferred license revenues</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">28</td><td style="width: 1%; text-align: left">&#xa0;</td><td style="width: 1%">&#xa0;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">28</td><td style="width: 1%; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left">Deferred NRE revenues</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">22</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">20</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred AirBar revenues</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">10</td><td style="text-align: left">&#xa0;</td><td>&#xa0;</td> <td style="text-align: left">&#xa0;</td><td style="text-align: right">6</td><td style="text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 1.5pt">Deferred sensor modules revenues</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">78</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td><td style="padding-bottom: 1.5pt">&#xa0;</td> <td style="border-bottom: Black 1.5pt solid; text-align: left">&#xa0;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">13</td><td style="padding-bottom: 1.5pt; text-align: left">&#xa0;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 4pt">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">138</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td><td style="padding-bottom: 4pt">&#xa0;</td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">67</td><td style="padding-bottom: 4pt; text-align: left">&#xa0;</td></tr> </table><br/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Contracted revenue not yet recognized was $138,000 as of December 31, 2020; we expect to recognize 100% of that revenue over the next twelve months. The Company recognized revenues of approximately $39,000 and $75,000, for 2020 and 2019, respectively, related to contract liabilities outstanding at the beginning of the year.</p>
CY2020 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.00 pure
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.50 pure
CY2019 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.00 pure
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
255000 usd
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
223000 usd
CY2020Q4 us-gaap Prepaid Rent
PrepaidRent
11000 usd
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
550000 usd
CY2019Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
396000 usd
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
21000 usd
CY2019Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
186000 usd
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
702000 usd
CY2019Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
448000 usd
CY2020 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
5984000 usd
CY2019 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
6646000 usd
CY2019Q4 us-gaap Prepaid Rent
PrepaidRent
4000 usd
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
433000 usd
CY2019Q4 us-gaap Prepaid Taxes
PrepaidTaxes
211000 usd
CY2020Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
216000 usd
CY2020Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
138000 usd
CY2019Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
67000 usd
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
24000 usd
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
17000 usd
CY2020 neond Provisions For Warranty Issued
ProvisionsForWarrantyIssued
1000 usd
CY2019 neond Provisions For Warranty Issued
ProvisionsForWarrantyIssued
7000 usd
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
25000 usd
CY2019Q4 us-gaap Advances On Inventory Purchases
AdvancesOnInventoryPurchases
usd
CY2020Q4 neond Advances To Suppliers
AdvancesToSuppliers
43000 usd
CY2019Q4 neond Advances To Suppliers
AdvancesToSuppliers
51000 usd
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
203000 usd
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
226000 usd
CY2020 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
800000 usd
CY2019 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
900000 usd
CY2020Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
3806000 usd
CY2019Q4 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
3348000 usd
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4394000 usd
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3171000 usd
CY2020Q4 neond Accrued Returns And Warranty
AccruedReturnsAndWarranty
25000 usd
CY2019Q4 neond Accrued Returns And Warranty
AccruedReturnsAndWarranty
24000 usd
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
520000 usd
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
517000 usd
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.10
CY2019 neond Weighted Average Remaining Contractual Life Exercised
WeightedAverageRemainingContractualLifeExercised
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
756368 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.98
CY2019 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P1Y171D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2020 neond Weighted Average Remaining Contractual Life Issued
WeightedAverageRemainingContractualLifeIssued
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
325000 shares
CY2020 neond Total Amount Of Credit
TotalAmountOfCredit
563000000 usd
CY2020 us-gaap Debt Instrument Description Of Variable Rate Basis
DebtInstrumentDescriptionOfVariableRateBasis
There was a 1.25% annual non-deductible interest and a credit fee of 0.2% from the seventh month of the granted credit.
CY2020 us-gaap Interest Expense Short Term Borrowings
InterestExpenseShortTermBorrowings
2000000 usd
CY2020Q3 us-gaap Shares Issued
SharesIssued
517 shares
CY2020Q3 neond Description Of Shares Of Common Stock
DescriptionOfSharesOfCommonStock
Annual Meeting of our Company held on September 29, 2020, stockholders approved a proposal to increase the number of authorized shares of our common stock to 25,000,000 shares. Accordingly, on November 5, 2020, we filed an amendment to the Neonode Inc. Restated Certificate of Incorporation, as amended (our &#x201c;Certificate of Incorporation&#x201d;), with the Secretary of State of the State of Delaware to increase the number of authorized shares of our common stock to 25,000,000 shares.
CY2020Q4 us-gaap Shares Issued
SharesIssued
37288 shares
CY2020Q4 neond Common Stock Issued Upon Exercise Of Common Stock Warrants Shares
CommonStockIssuedUponExerciseOfCommonStockWarrantsShares
2020 shares
CY2020 neond Number Of Warrants Exercised
NumberOfWarrantsExercised
325000 shares
CY2019 neond Number Of Warrants Exercised
NumberOfWarrantsExercised
360000 shares
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
36000 usd
CY2020Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.05 pure
CY2020Q4 us-gaap Dividends Receivable
DividendsReceivable
33000 usd
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1116368 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.18
CY2019 neond Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm
P2Y248D
CY2019 neond Warrants Exercised
WarrantsExercised
360000 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
20.00
CY2020 neond Weighted Average Remaining Contractual Life Expiredforfeited
WeightedAverageRemainingContractualLifeExpiredforfeited
CY2020 neond Warrants Exercised
WarrantsExercised
shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2020 neond Weighted Average Remaining Contractual Life Exercised
WeightedAverageRemainingContractualLifeExercised
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
431368 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.20
CY2020 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P1Y47D
CY2020Q4 neond Market Value Percentage
MarketValuePercentage
0.30 pure
CY2020Q4 us-gaap Payments For Merger Related Costs
PaymentsForMergerRelatedCosts
75000000 usd
CY2020Q4 neond Stock Related Cost Percentage
StockRelatedCostPercentage
0.30 pure
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
77000 usd
CY2020 neond Term Of Stock Options Description
TermOfStockOptionsDescription
Stock options granted under the 2006 and 2015 Plans are exercisable over a maximum term of ten years from the date of grant, vest in various installments over a one to four-year period and have exercise prices reflecting the market value of the shares of common stock on the date of grant.
CY2020 neond Unrecognized Compensation Expense
UnrecognizedCompensationExpense
177000000 usd
CY2020Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
10500 shares
CY2020 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P1Y146D
CY2020Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
29.61
CY2018Q4 neond Number Of Shares Options Outstanding And Exercisable Beginning Balance
NumberOfSharesOptionsOutstandingAndExercisableBeginningBalance
99800000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
34.55
CY2019 neond Weighted Average Remaining Contractual Lifein Years Option Outstanding And Exercisable
WeightedAverageRemainingContractualLifeinYearsOptionOutstandingAndExercisable
P1Y149D
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
usd
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019 neond Aggregate Intrinsic Value Options Granted
AggregateIntrinsicValueOptionsGranted
usd
CY2019 neond Stock Issued During Period Shares Stock Option Exercised
StockIssuedDuringPeriodSharesStockOptionExercised
shares
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Other Share Increase Decrease In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOtherShareIncreaseDecreaseInPeriodWeightedAverageExercisePrice
CY2019 neond Aggregate Intrinsic Value Options Exercised
AggregateIntrinsicValueOptionsExercised
usd
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
47300000 shares
CY2019 neond Weighted Average Exercise Price Options Cancelled Or Expired
WeightedAverageExercisePriceOptionsCancelledOrExpired
42.35
CY2019 neond Options Cancelled Or Expired
OptionsCancelledOrExpired
usd
CY2019Q4 neond Number Of Shares Options Outstanding And Exercisable Beginning Balance
NumberOfSharesOptionsOutstandingAndExercisableBeginningBalance
52500000 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
27.51
CY2019 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P1Y135D
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
usd
CY2020 neond Aggregate Intrinsic Value Options Granted
AggregateIntrinsicValueOptionsGranted
usd
CY2020 neond Stock Issued During Period Shares Stock Option Exercised
StockIssuedDuringPeriodSharesStockOptionExercised
shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Other Share Increase Decrease In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsOtherShareIncreaseDecreaseInPeriodWeightedAverageExercisePrice
CY2020 neond Aggregate Intrinsic Value Options Exercised
AggregateIntrinsicValueOptionsExercised
usd
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
42000000 shares
CY2020 neond Weighted Average Exercise Price Options Cancelled Or Expired
WeightedAverageExercisePriceOptionsCancelledOrExpired
26.99
CY2020 neond Options Cancelled Or Expired
OptionsCancelledOrExpired
usd
CY2020Q4 neond Number Of Shares Options Outstanding And Exercisable Beginning Balance
NumberOfSharesOptionsOutstandingAndExercisableBeginningBalance
10500000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
29.61
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
usd
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
864000 usd
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
usd
CY2020 neond Stockbased Compensation Expense
StockbasedCompensationExpense
77000 usd
CY2019 neond Stockbased Compensation Expense
StockbasedCompensationExpense
usd
CY2020Q4 us-gaap Airline Related Inventory Net
AirlineRelatedInventoryNet
100000 usd
CY2020Q2 neond Number Of Patents
NumberOfPatents
2 pure
CY2013Q2 neond Nonrecurring Engineering Costs Description
NonrecurringEngineeringCostsDescription
Under the terms of the NN1002 Agreement, we agreed to pay TI $500,000 of non-recurring engineering costs at the rate of $0.25 per ASIC for each of the first 2 million ASICs sold.
CY2020 us-gaap Lessor Operating Lease Description
LessorOperatingLeaseDescription
One of our primary operating leases includes options to extend the lease for one to three years and the other primary lease includes an option to annually prolong; those operating leases also include options to terminate the leases within one year.
CY2020 us-gaap Lessor Operating Lease Option To Extend
LessorOperatingLeaseOptionToExtend
Our Stockholm corporate office lease has a remaining lease term of two years and both of our leases are automatically renewed at a cost increase of 2% on an annual basis, unless we provide written notice nine months prior to the respective expiration dates.
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
145000 usd
CY2019 us-gaap Short Term Lease Cost
ShortTermLeaseCost
122000000 usd
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
572000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
588000 usd
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
636000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
623000 usd
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
34000 usd
CY2020Q3 neond Finance Lease Cost
FinanceLeaseCost
647000 usd
neond Finance Lease Cost
FinanceLeaseCost
657000 usd
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
405000 usd
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
404000 usd
CY2020 neond Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
-11000 usd
CY2019 neond Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
-34000 usd
CY2020 neond Financing Cash Flow From Finance Leases
FinancingCashFlowFromFinanceLeases
-321000 usd
CY2019 neond Financing Cash Flow From Finance Leases
FinancingCashFlowFromFinanceLeases
-535000 usd
CY2020Q4 neond Operating Lease Liabilities
OperatingLeaseLiabilities
881000 usd
CY2019Q4 neond Operating Lease Liabilities
OperatingLeaseLiabilities
390000 usd
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3806000 usd
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3348000 usd
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Excluding Capital Leased Assets
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets
2941000 usd
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Excluding Capital Leased Assets
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets
1956000 usd
CY2020Q4 neond Finance Lease Property And Equipment Net
FinanceLeasePropertyAndEquipmentNet
865000 usd
CY2020Q4 neond Operating Lease Obligations Current
OperatingLeaseObligationsCurrent
504000 usd
CY2019Q4 neond Operating Lease Obligations Current
OperatingLeaseObligationsCurrent
332000 usd
CY2020Q4 neond Operating Lease Liabilities Noncurrent Net
OperatingLeaseLiabilitiesNoncurrentNet
377000 usd
CY2019Q4 neond Operating Lease Liabilities Noncurrent Net
OperatingLeaseLiabilitiesNoncurrentNet
58000 usd
CY2019Q4 neond Finance Lease Property And Equipment Net
FinanceLeasePropertyAndEquipmentNet
1392000 usd
CY2020Q4 neond Finance Lease Obligations Current
FinanceLeaseObligationsCurrent
769000 usd
CY2019Q4 neond Finance Lease Obligations Current
FinanceLeaseObligationsCurrent
568000 usd
CY2020Q4 neond Finance Lease Liabilities Non Current
FinanceLeaseLiabilitiesNonCurrent
95000 usd
CY2019Q4 neond Finance Lease Liabilities Non Current
FinanceLeaseLiabilitiesNonCurrent
508000 usd
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
864000 usd
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1076000 usd
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y219D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P292D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.02 pure
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
536000 usd
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
386000 usd
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
922000 usd
CY2020Q4 us-gaap Receivable With Imputed Interest Net Amount
ReceivableWithImputedInterestNetAmount
41000 usd
CY2020Q4 neond Total Lease Liabilities
TotalLeaseLiabilities
881000 usd
CY2020Q4 neond Less Current Portion
LessCurrentPortion
-504000 usd
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
377000 usd
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure
CY2020 neond Revenue Percentage Net
RevenuePercentageNet
1.00 pure
CY2019 neond Revenue Percentage Net
RevenuePercentageNet
1.00 pure
CY2020 neond Description Of Expire Date
DescriptionOfExpireDate
The federal loss carryforward begins to expire in 2028, and the California loss carryforward begins to expire in 2030.
CY2020 neond Open Tax Years
OpenTaxYears
The 2009 through 2019 tax years are open and may be subject to potential examination in one or more jurisdictions.
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-4885000 usd
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-4200000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1338000 usd
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-1564000 usd
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6223000 usd
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-5764000 usd
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
usd
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000 usd
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
16293000 usd
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
18874000 usd
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
16500000 usd
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000 usd
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
57000 usd
CY2019 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
36000 usd
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-948000 usd
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-447000 usd
CY2020 neond Change In Deferred Tax Assets Valuation Allowance Federal
ChangeInDeferredTaxAssetsValuationAllowanceFederal
-948000 usd
CY2019 neond Change In Deferred Tax Assets Valuation Allowance Federal
ChangeInDeferredTaxAssetsValuationAllowanceFederal
-447000 usd
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1000 usd
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
20000 usd
CY2020 neond Change In Deferred Tax Assets Valuation Allowance State And Local
ChangeInDeferredTaxAssetsValuationAllowanceStateAndLocal
-1000 usd
CY2019 neond Change In Deferred Tax Assets Valuation Allowance State And Local
ChangeInDeferredTaxAssetsValuationAllowanceStateAndLocal
20000 usd
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1425000 usd
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-453000 usd
CY2020 neond Change In Deferred Tax Assets Valuation Allowance Foreign
ChangeInDeferredTaxAssetsValuationAllowanceForeign
-1425000 usd
CY2019 neond Change In Deferred Tax Assets Valuation Allowance Foreign
ChangeInDeferredTaxAssetsValuationAllowanceForeign
-453000 usd
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
59000 usd
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
38000 usd
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2019 neond Effective Income Tax Rate Reconciliation Foreign Losses At Different Rates
EffectiveIncomeTaxRateReconciliationForeignLossesAtDifferentRates
-0.02 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.02 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.08 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.01 pure
CY2020 neond Effective Income Tax Rate Reconciliation Before Valuation Allowance
EffectiveIncomeTaxRateReconciliationBeforeValuationAllowance
0.19 pure
CY2019 neond Effective Income Tax Rate Reconciliation Before Valuation Allowance
EffectiveIncomeTaxRateReconciliationBeforeValuationAllowance
0.10 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.20 pure
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.11 pure
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.01 pure
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.01 pure
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
48000 usd
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
48000 usd
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
38000 usd
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
159000 usd
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
18788000 usd
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18874000 usd
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
16500000 usd
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
usd
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9989000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8844000 shares
CY2020 neond Net Loss Attributable To Neonode Inc
NetLossAttributableToNeonodeInc
-5638000 usd
CY2019 neond Net Loss Attributable To Neonode Inc
NetLossAttributableToNeonodeInc
-5298000 usd

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