2023 Q1 Form 10-K Financial Statement
#000165495423004699 Filed on April 13, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $3.308M | $3.329M | $14.45M |
YoY Change | -4.54% | 92529.38% | 4.09% |
Cost Of Revenue | $1.168M | $3.042M | $11.41M |
YoY Change | -55.98% | 8.84% | 20.05% |
Gross Profit | $2.140M | $286.7K | $3.046M |
YoY Change | 163.42% | -64.1% | -30.51% |
Gross Profit Margin | 64.7% | 8.61% | 21.08% |
Selling, General & Admin | $518.8K | $569.0K | $2.168M |
YoY Change | -4.01% | 12.83% | 21.05% |
% of Gross Profit | 24.24% | 198.48% | 71.17% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $201.3K | $235.9K | $943.0K |
YoY Change | -14.29% | -54.82% | -29.1% |
% of Gross Profit | 9.4% | 82.3% | 30.96% |
Operating Expenses | $1.168M | $681.6K | $11.41M |
YoY Change | 78.74% | -24.62% | 20.05% |
Operating Profit | $1.526M | -$394.9K | $427.7K |
YoY Change | 858.73% | 372428.3% | -75.47% |
Interest Expense | $383.3K | -$558.6K | $1.626M |
YoY Change | 12.11% | 61.73% | 19.43% |
% of Operating Profit | 25.12% | 380.21% | |
Other Income/Expense, Net | $0.00 | ||
YoY Change | |||
Pretax Income | $1.142M | -$953.5K | -$1.199M |
YoY Change | -725.19% | 211316.85% | -413.78% |
Income Tax | $274.2K | -$80.52K | -$142.4K |
% Of Pretax Income | 24.0% | ||
Net Earnings | $868.3K | -$873.0K | -$1.056M |
YoY Change | -735.18% | 269335.19% | -307.29% |
Net Earnings / Revenue | 26.25% | -26.22% | -7.31% |
Basic Earnings Per Share | $0.04 | -$0.05 | |
Diluted Earnings Per Share | $0.04 | -$0.04 | -$0.05 |
COMMON SHARES | |||
Basic Shares Outstanding | 22.22M shares | 22.22M shares | 22.22M shares |
Diluted Shares Outstanding | 23.63M shares | 23.51M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $463.3K | $785.5K | $785.5K |
YoY Change | -42.66% | -37.83% | -37.83% |
Cash & Equivalents | $463.3K | $785.5K | |
Short-Term Investments | |||
Other Short-Term Assets | $401.4K | $424.8K | $424.8K |
YoY Change | -9.11% | 2.29% | 2.29% |
Inventory | $1.007M | $997.9K | $997.9K |
Prepaid Expenses | $401.4K | $424.8K | |
Receivables | $377.6K | $350.2K | $824.1K |
Other Receivables | $1.460M | $0.00 | $0.00 |
Total Short-Term Assets | $4.183M | $3.032M | $3.032M |
YoY Change | 33.37% | -15.24% | -15.24% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.631M | $4.713M | $10.37M |
YoY Change | -59.12% | -8.48% | -6.99% |
Goodwill | $278.5K | $278.5K | |
YoY Change | 0.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $4.044M | $4.309M | $4.309M |
YoY Change | 934.72% | 1228.25% | 6.59% |
Total Long-Term Assets | $14.82M | $15.31M | $15.31M |
YoY Change | -8.14% | -3.09% | -3.09% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.183M | $3.032M | $3.032M |
Total Long-Term Assets | $14.82M | $15.31M | $15.31M |
Total Assets | $19.00M | $18.34M | $18.34M |
YoY Change | -1.38% | -5.33% | -5.33% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $598.8K | $650.6K | $650.6K |
YoY Change | -1.45% | -29.22% | -29.22% |
Accrued Expenses | $799.2K | $799.2K | $799.2K |
YoY Change | 19.49% | 21.8% | 21.8% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $1.000M | $866.7K | $866.7K |
YoY Change | |||
Total Short-Term Liabilities | $2.398M | $2.316M | $2.316M |
YoY Change | 87.87% | 47.05% | 47.05% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $7.956M | $8.094M | $8.094M |
YoY Change | -7.6% | -4.74% | -4.74% |
Other Long-Term Liabilities | $5.903M | $6.066M | $6.066M |
YoY Change | -10.72% | -5.36% | -5.36% |
Total Long-Term Liabilities | $13.86M | $14.16M | $14.16M |
YoY Change | -8.96% | -5.0% | -5.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.398M | $2.316M | $2.316M |
Total Long-Term Liabilities | $13.86M | $14.16M | $14.16M |
Total Liabilities | $16.26M | $16.48M | $16.48M |
YoY Change | -1.46% | -0.03% | -0.03% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$22.08M | -$22.95M | |
YoY Change | 4.82% | ||
Common Stock | $24.83M | $24.82M | |
YoY Change | 0.11% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.741M | $1.867M | $1.867M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $19.00M | $18.34M | $18.34M |
YoY Change | -1.38% | -5.33% | -5.33% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $868.3K | -$873.0K | -$1.056M |
YoY Change | -735.18% | 269335.19% | -307.29% |
Depreciation, Depletion And Amortization | $201.3K | $235.9K | $943.0K |
YoY Change | -14.29% | -54.82% | -29.1% |
Cash From Operating Activities | -$192.2K | $6.640K | $29.58K |
YoY Change | -1870.79% | -98.14% | -98.05% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $13.34K | -$35.89K | $507.6K |
YoY Change | -97.14% | -95.94% | -64.99% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$13.34K | $35.89K | -$507.6K |
YoY Change | -97.14% | -104.06% | -64.99% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$116.7K | 0.000 | $0.00 |
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | -$192.2K | 6.640K | $29.58K |
Cash From Investing Activities | -$13.34K | 35.89K | -$507.6K |
Cash From Financing Activities | -$116.7K | 0.000 | $0.00 |
Net Change In Cash | -$322.2K | 42.53K | -$478.0K |
YoY Change | -29.26% | -108.09% | -791.24% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$192.2K | $6.640K | $29.58K |
Capital Expenditures | $13.34K | -$35.89K | $507.6K |
Free Cash Flow | -$205.6K | $42.53K | -$478.0K |
YoY Change | -54.87% | -96.57% | -791.24% |
Facts In Submission
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4941718 | usd |
CY2021 | nrom |
Adjust Valuation Of Receivables
AdjustValuationOfReceivables
|
0 | usd |
CY2022 | nrom |
Adjust Valuation Of Receivables
AdjustValuationOfReceivables
|
0 | usd |
CY2020 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-4542018 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
381963 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-1198505 | usd |
CY2020 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
839928 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-127502 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-142435 | usd |
CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5381946 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
509465 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1056070 | usd |
CY2020 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.24 | |
CY2021 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.02 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.05 | |
CY2020 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22215512 | shares |
CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22215512 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22215512 | shares |
CY2020 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.24 | |
CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.02 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.05 | |
CY2020 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23465512 | shares |
CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23641678 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23512550 | shares |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7833788 | usd |
CY2020 | nrom |
Write Off Unamortized Closing To Sub Debt That Was Converted Amount
WriteOffUnamortizedClosingToSubDebtThatWasConvertedAmount
|
-116400 | usd |
CY2020 | nrom |
Amortization Of Value Of Stock Options Amount
AmortizationOfValueOfStockOptionsAmount
|
21536 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2356978 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
509465 | usd |
CY2021 | nrom |
Amortization Of Value Of Stock Options Amount
AmortizationOfValueOfStockOptionsAmount
|
28121 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2894564 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1056070 | usd |
CY2022 | nrom |
Amortization Of Value Of Stock Options
AmortizationOfValueOfStockOptions
|
28168 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1866662 | usd |
CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5381946 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
509465 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1056070 | usd |
CY2020 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
1433295 | usd |
CY2021 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
1330017 | usd |
CY2022 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
942977 | usd |
CY2020 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
46994 | usd |
CY2021 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
36223 | usd |
CY2022 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
18552 | usd |
CY2020 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
839928 | usd |
CY2021 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-127502 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-142435 | usd |
CY2020 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-98388 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-24971 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
80384 | usd |
CY2020 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-9896 | usd |
CY2021 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-103530 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-3783 | usd |
CY2020 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
189884 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-19391 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-9514 | usd |
CY2020 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
4508836 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
-122440 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
|
122804 | usd |
CY2020 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
147040 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
41058 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
76669 | usd |
CY2020 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1675747 | usd |
CY2020 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
2084710 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
507575 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1449779 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-507575 | usd |
CY2020 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
4379024 | usd |
CY2021 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
0 | usd |
CY2022 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
0 | usd |
CY2020 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
1275000 | usd |
CY2021 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
0 | usd |
CY2022 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
0 | usd |
CY2020 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
7039218 | usd |
CY2021 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
0 | usd |
CY2022 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
0 | usd |
CY2020 | nrom |
Lease Liabilities
LeaseLiabilities
|
0 | usd |
CY2021 | nrom |
Lease Liabilities
LeaseLiabilities
|
0 | usd |
CY2022 | nrom |
Lease Liabilities
LeaseLiabilities
|
0 | usd |
CY2020 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1385194 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2020 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
976231 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
69150 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-477991 | usd |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
218132 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1194363 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1263513 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1194363 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1263513 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
785522 | usd |
CY2021 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23641678 | shares |
CY2021 | us-gaap |
Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
|
0.02 | |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1056070 | usd |
CY2022 | nrom |
Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
|
22215512 | shares |
CY2022 | nrom |
Earnings Loss Per Share Basic
EarningsLossPerShareBasic
|
-0.05 | |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Use of Estimates: The preparation of the consolidated financial statements in conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. After a thorough review by management in 2018, the Company permanently wrote off $1.3 million and created an additional reserve for possible non-collection of $2.8 million. After a review in 2019 and also considering the impact of the COVID-19 pandemic, it was decided to add an additional reserve of $1.3 million for possible non-collections. In 2020, in light of the additional uncertainty created as a result of the COVID-19 pandemic, the Company decided to create a reserve for uncollectability on all long-term franchisee receivables. The Company will continue to pursue collection where circumstances are appropriate and all collections of these receivables in the future will result in additional income at the time received. The Company evaluates its property and equipment and related costs periodically to assess whether any impairment indications are present, including recurring operating losses and significant adverse changes in legal factors or business climate that affect the recovery of recorded value. If any impairment of an individual asset is evident, a loss would be provided to reduce the carrying value to its estimated fair value.</p> | |
CY2022 | us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
130000 | usd |
CY2022Q4 | nrom |
Additional Reserve For Noncollection
AdditionalReserveForNoncollection
|
280000 | usd |
CY2022Q4 | nrom |
Additional Reserve
AdditionalReserve
|
130000 | usd |
CY2022Q4 | us-gaap |
Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
|
371920 | usd |
CY2022 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
-993570 | usd |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23512550 | shares |
CY2022 | us-gaap |
Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
|
0.04 | |
CY2022Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
622864 | usd |
CY2019 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
1422960 | usd |
CY2019 | nrom |
Additional Tax Expense
AdditionalTaxExpense
|
400000 | usd |
CY2020 | nrom |
Additional Tax Expense
AdditionalTaxExpense
|
267528 | usd |
CY2020 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
572400 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
3200000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
3500000 | usd |
CY2022 | us-gaap |
Taxes And Licenses
TaxesAndLicenses
|
142135 | usd |
CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5381946 | usd |
CY2020 | nrom |
Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
|
22215512 | shares |
CY2020 | nrom |
Earnings Loss Per Share Basic
EarningsLossPerShareBasic
|
-0.24 | |
CY2020 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
-5319446 | usd |
CY2020 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23465512 | shares |
CY2020 | us-gaap |
Earnings Per Share Diluted Distributed
EarningsPerShareDilutedDistributed
|
0.24 | |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
509465 | usd |
CY2021 | nrom |
Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
|
22215512 | shares |
CY2021 | nrom |
Earnings Loss Per Share Basic
EarningsLossPerShareBasic
|
0.02 | |
CY2021 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
-571965 | usd |
CY2022 | nrom |
Discription
Discription
|
tax credit was equal to 50% of the qualified wages an eligible employer paid to employees after March 12, 2020 and before January 1, 2021. The credit was also limited to a maximum annual per employee credit of $5,000. The credit was then extended through June 30, 2021 by the Tax Payer Certainty and Disaster Relief Act (“Relief Act”) (Division EE of the Consolidated Appropriations Act). The Relief Act modified the credit to be 70% of up to $10,000 of qualified wages per quarter in 2021 through June 30, 2021 | |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1718000 | usd |
CY2021Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
171800 | usd |
CY2020Q1 | nrom |
Note Payable Principle Value
NotePayablePrincipleValue
|
8000000.0 | usd |
CY2022Q4 | nrom |
Line Of Credit Principal
LineOfCreditPrincipal
|
8736388 | usd |
CY2022Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
369784 | usd |
CY2022Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
8367604 | usd |
CY2022 | nrom |
Description Of Warrant Price
DescriptionOfWarrantPrice
|
In the fourth quarter of 2016, the Company issued 32 Units, for a purchase price of $50,000 per Unit, or $1,600,000 in the aggregate and, in January 2017, the Company issued another 16 Units, or an additional $800,000 in the aggregate. Each $50,000 Unit consisted of a convertible, subordinated, unsecured promissory note (the “Notes”) in an aggregate principal amount of $50,000 and warrants (the “Warrants”) to purchase up to 50,000 shares of the Company’s Common Stock, no par value per share. The Company issued Units to investors including the following related parties: Paul W. Mobley, the Company’s Executive Chairman, Chief Financial Officer and a director of the Company ($150,000); and Herbst Capital Management, LLC, the principal of which is Marcel Herbst, a director of the Company ($200,000). | |
CY2022 | nrom |
Description Of Interest On Accrued Notes
DescriptionOfInterestOnAccruedNotes
|
the Company offered to extend the maturity of the Notes and the expiration date of the Warrants to January 2023. Certain of the holders of the Notes and Warrants accepted the Company’s offer. Accordingly, of the principal amount of the Notes, holders of $775,000 in principal amount extended their Notes until January 31, 2023. In 2018 and 2019, holders of $500,000 in principal amount of the Notes converted those Notes to 1,000,000 shares of the Company’s Common Stock in accordance with the terms of the Note. In February 2020, in conjunction with the Company’s refinancing of its debt, $1,275,000 in principal amount of those Notes was repaid leaving a balance of $625,000 which mature on January 31, 2023. The holders of the remaining $625,000 principal amount of Notes can elect, at their option any time prior to maturity, convert those Notes to Common Stock in accordance with the terms of the Notes. | |
CY2023Q1 | nrom |
Note Payable Principle Amount
NotePayablePrincipleAmount
|
775000 | usd |
CY2020Q1 | nrom |
Description Of Warrant Price
DescriptionOfWarrantPrice
|
Warrants at a price of $0.001 per share of Common Stock subject to the Warrant upon 30 days’ notice if the daily average weighted trading price of the Common Stock equals or exceeds $2.00 per share for a period of 30 consecutive trading days. | |
CY2022Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
625000 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
2136 | usd |
CY2022 | us-gaap |
Revenue Recognition Services Royalty Fees
RevenueRecognitionServicesRoyaltyFees
|
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>Note 4: Royalties and Fees</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Approximately $198,000, $204,000 and $293,500 are included in 2020, 2021 and 2022, respectively, royalties and fees in the Consolidated Statements of Operations for amortized initial franchise fees. Also included in royalties and fees were approximately $45,000, $32,000 and $61,000 in 2020, 2021 and 2022, respectively, for equipment commissions. Most of the cost for the services required to be performed by the Company are incurred prior to the franchise fee income being recorded which is based on contractual liability for the franchisee. Such incremental costs, include training, design and related travel cost to new franchises. The deferred contract income and costs approximated $810,000 on December 31, 2021 and $934,000 on December 31, 2022.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In conjunction with the development of Noble Roman’s Pizza and Tuscano’s Italian Style Subs, the Company has devised its own recipes for many of the ingredients that go into the making of its products (“Proprietary Products”). The Company contracts with various manufacturers to manufacture its Proprietary Products in accordance with the Company’s recipes and formulas and to sell those products to authorized distributors at a contract price which includes an allowance for use of the Company’s recipes. The manufacturing contracts also require the manufacturers to hold those allowances in trust and to remit those allowances to the Company on a periodic basis, usually monthly. The Company recognizes those allowances in revenue as earned based on sales reports from the distributors.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">During the 12-month period ended December 31, 2022 there were no company-operated or franchised Craft Pizza & Pub restaurants opened or closed. During the same twelve-month period there were 31 new non-traditional outlets opened and seven non-traditional outlets closed.</p> | |
CY2021Q4 | nrom |
Deferred Contract Income And Costs
DeferredContractIncomeAndCosts
|
810000 | usd |
CY2022Q4 | nrom |
Deferred Contract Income And Costs
DeferredContractIncomeAndCosts
|
934000 | usd |
CY2022Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
153100 | usd |
CY2022Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
1600000 | usd |
CY2022Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
111500 | usd |
CY2022Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
16100 | usd |
CY2022Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
95300000000 | usd |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.07 | pure |
CY2022 | nrom |
Weighted Average Lease Term
WeightedAverageLeaseTerm
|
P7Y3M18D | |
CY2022 | us-gaap |
Lease Cost
LeaseCost
|
18775 | usd |
CY2021Q4 | nrom |
Deferred Tax Asset
DeferredTaxAsset
|
3200000 | usd |
CY2022Q4 | nrom |
Deferred Tax Asset
DeferredTaxAsset
|
3400000 | usd |
CY2022 | us-gaap |
Gain Loss On Sale Of Leased Assets Net Operating Leases
GainLossOnSaleOfLeasedAssetsNetOperatingLeases
|
1260000 | usd |
CY2021Q4 | nrom |
Outstanding Principal Balance
OutstandingPrincipalBalance
|
625000 | usd |
CY2021Q4 | nrom |
Convertible Note Common Stock Price Per Shares
ConvertibleNoteCommonStockPricePerShares
|
0.50 | |
CY2022 | nrom |
Warrants Purchase Shares
WarrantsPurchaseShares
|
775000 | shares |
CY2022Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
0.57 | |
CY2021 | nrom |
Warrants Purchase Shares
WarrantsPurchaseShares
|
150000 | shares |
CY2022 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
2250000 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
4141167 | shares |
CY2021 | nrom |
Tax Benefit
TaxBenefit
|
6861 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
28168 | usd |
CY2022 | nrom |
Tax Benefit
TaxBenefit
|
6873 | usd |
CY2022Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
26106 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.20 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P3Y | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0168 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0282 | pure |
CY2020 | nrom |
Stock Options Outstanding Begining
StockOptionsOutstandingBegining
|
3978167 | shares |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
443500 | shares |
CY2020 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
0 | shares |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4421667 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
463500 | shares |
CY2021 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
30000 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4855167 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
520000 | shares |
CY2022 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
59000 | shares |
CY2022 | nrom |
Stock Options Outstanding Begining
StockOptionsOutstandingBegining
|
5316167 | shares |
CY2020 | nrom |
Non Vested Stock Options Outstanding Beggining
NonVestedStockOptionsOutstandingBeggining
|
731336 | shares |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
443500 | shares |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
212500 | shares |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
0 | shares |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
962336 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
463500 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
354336 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
30000 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1041500 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
520000 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
327500 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
59000 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1175000 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.40 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.70 | |
CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.22 | |
CY2020 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
21536 | usd |
CY2020 | nrom |
Tax Benefit
TaxBenefit
|
5168 | usd |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
28119 | usd |
CY2022 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P36M | |
CY2022Q4 | nrom |
Warrant Purchase Shares
WarrantPurchaseShares
|
50000 | shares |
CY2022Q4 | nrom |
Aggregate Principal Amount Of Note Payable
AggregatePrincipalAmountOfNotePayable
|
50000 | usd |
CY2022 | dei |
Auditor Name
AuditorName
|
Somerset CPA’s, P.C. | |
CY2022 | dei |
Auditor Location
AuditorLocation
|
Indianapolis, Indiana | |
CY2022 | dei |
Auditor Firm
AuditorFirmId
|
752 |