2024 Q1 Form 10-K Financial Statement
#000165495424006563 Filed on May 17, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $3.666M | $3.334M | $14.37M |
YoY Change | 10.83% | 0.14% | -0.55% |
Cost Of Revenue | $2.547M | $2.393M | $8.837M |
YoY Change | 118.11% | -21.35% | -22.53% |
Gross Profit | $1.119M | $941.1K | $5.536M |
YoY Change | -47.7% | 228.3% | 81.76% |
Gross Profit Margin | 30.53% | 28.23% | 38.52% |
Selling, General & Admin | $577.3K | -$15.56K | $1.549M |
YoY Change | 11.27% | -102.73% | -28.55% |
% of Gross Profit | 51.58% | -1.65% | 27.98% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $212.1K | -$260.5K | $379.5K |
YoY Change | 5.37% | -210.4% | -59.75% |
% of Gross Profit | 18.95% | -27.68% | 6.86% |
Operating Expenses | $2.547M | $245.5K | $8.837M |
YoY Change | 118.11% | -63.98% | -22.53% |
Operating Profit | $432.2K | $695.6K | $3.440M |
YoY Change | -71.67% | -276.16% | 704.2% |
Interest Expense | $394.2K | -$623.0K | $1.744M |
YoY Change | 2.84% | 11.52% | 7.27% |
% of Operating Profit | 91.2% | -89.56% | 50.72% |
Other Income/Expense, Net | -$124.5K | -$234.9K | -$234.9K |
YoY Change | |||
Pretax Income | -$86.48K | -$162.3K | $1.460M |
YoY Change | -107.57% | -82.98% | -221.84% |
Income Tax | $0.00 | -$274.2K | $0.00 |
% Of Pretax Income | 0.0% | ||
Net Earnings | -$86.48K | $111.9K | $1.460M |
YoY Change | -109.96% | -112.82% | -238.28% |
Net Earnings / Revenue | -2.36% | 3.36% | 10.16% |
Basic Earnings Per Share | $0.00 | $0.07 | |
Diluted Earnings Per Share | $0.00 | $0.00 | $0.06 |
COMMON SHARES | |||
Basic Shares Outstanding | 22.22M shares | 22.22M shares | 22.22M shares |
Diluted Shares Outstanding | 22.22M shares | 23.60M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.165M | $872.3K | $872.3K |
YoY Change | 151.49% | 11.05% | 11.05% |
Cash & Equivalents | $1.165M | $872.3K | |
Short-Term Investments | |||
Other Short-Term Assets | $280.7K | $318.2K | $318.2K |
YoY Change | -30.06% | -25.1% | -25.1% |
Inventory | $999.6K | $965.8K | $965.8K |
Prepaid Expenses | $280.7K | $318.2K | |
Receivables | $720.3K | $1.169M | $1.169M |
Other Receivables | $507.7K | $507.7K | $507.7K |
Total Short-Term Assets | $3.673M | $3.834M | $3.834M |
YoY Change | -12.18% | 26.42% | 26.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.242M | $4.320M | $9.250M |
YoY Change | -8.39% | -8.35% | -10.83% |
Goodwill | $278.5K | $278.5K | |
YoY Change | 0.0% | 0.0% | |
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $4.782M | $4.778M | $4.778M |
YoY Change | 18.26% | 10.89% | 10.89% |
Total Long-Term Assets | $14.33M | $18.48M | $14.65M |
YoY Change | -3.25% | 20.7% | -4.34% |
TOTAL ASSETS | |||
Total Short-Term Assets | $3.673M | $3.834M | $3.834M |
Total Long-Term Assets | $14.33M | $18.48M | $14.65M |
Total Assets | $18.01M | $18.48M | $18.48M |
YoY Change | -5.22% | 0.74% | 0.74% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.089M | $1.284M | $1.284M |
YoY Change | 81.89% | 97.39% | 97.39% |
Accrued Expenses | $817.4K | $799.2K | $799.2K |
YoY Change | 2.28% | 0.0% | 0.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $575.0K | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $7.029M | $1.000M | $1.000M |
YoY Change | 602.85% | 15.38% | 15.38% |
Total Short-Term Liabilities | $10.18M | $3.624M | $3.624M |
YoY Change | 324.33% | 56.45% | 56.45% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $6.709M | $6.709M |
YoY Change | -100.0% | -17.11% | -17.11% |
Other Long-Term Liabilities | $5.724M | $5.956M | $5.956M |
YoY Change | -3.04% | -1.82% | -1.82% |
Total Long-Term Liabilities | $5.724M | $12.66M | $12.66M |
YoY Change | -58.7% | -10.56% | -10.56% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $10.18M | $3.624M | $3.624M |
Total Long-Term Liabilities | $5.724M | $12.66M | $12.66M |
Total Liabilities | $15.90M | $16.29M | $16.29M |
YoY Change | -2.2% | -1.14% | -1.14% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$22.74M | -$22.65M | |
YoY Change | 2.95% | -1.32% | |
Common Stock | $24.84M | $24.84M | |
YoY Change | 0.07% | 0.08% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.107M | $2.191M | $2.191M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $18.01M | $18.48M | $18.48M |
YoY Change | -5.22% | 0.74% | 0.74% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$86.48K | $111.9K | $1.460M |
YoY Change | -109.96% | -112.82% | -238.28% |
Depreciation, Depletion And Amortization | $212.1K | -$260.5K | $379.5K |
YoY Change | 5.37% | -210.4% | -59.75% |
Cash From Operating Activities | $561.6K | $508.6K | $1.569M |
YoY Change | -392.13% | 7558.89% | 5202.02% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $18.83K | $13.83K | |
YoY Change | 41.21% | -97.28% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $13.83K | $13.83K | |
YoY Change | |||
Cash From Investing Activities | -$18.83K | $43.83K | $13.83K |
YoY Change | 41.21% | 22.12% | -102.72% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$250.0K | -245.6K | -$1.496M |
YoY Change | 114.29% | ||
NET CHANGE | |||
Cash From Operating Activities | $561.6K | 508.6K | $1.569M |
Cash From Investing Activities | -$18.83K | 43.83K | $13.83K |
Cash From Financing Activities | -$250.0K | -245.6K | -$1.496M |
Net Change In Cash | $292.7K | 306.8K | $86.81K |
YoY Change | -190.85% | 621.42% | -118.16% |
FREE CASH FLOW | |||
Cash From Operating Activities | $561.6K | $508.6K | $1.569M |
Capital Expenditures | $18.83K | $13.83K | |
Free Cash Flow | $542.7K | $1.555M | |
YoY Change | -364.01% | -425.26% |
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11406821 | usd |
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
8837403 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
450550 | usd |
CY2023 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
379516 | usd |
CY2022 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2167678 | usd |
CY2023 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1548878 | usd |
CY2023 | nrom |
Defense Against Activist Shareholder
DefenseAgainstActivistShareholder
|
168092 | shares |
CY2022 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
14025049 | usd |
CY2023 | us-gaap |
Other Nonoperating Expense
OtherNonoperatingExpense
|
10933889 | usd |
CY2022 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
427716 | usd |
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3439685 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
1884147 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
1744488 | usd |
CY2022 | nrom |
Gain Loss On Change In Fair Value Of Warrants
GainLossOnChangeInFairValueOfWarrants
|
0 | usd |
CY2023 | nrom |
Gain Loss On Change In Fair Value Of Warrants
GainLossOnChangeInFairValueOfWarrants
|
234913 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-1456431 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
1460284 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-142435 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1313996 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1460284 | usd |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22215512 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
22215512 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
22215512 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
23599853 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2894564 | usd |
CY2022 | nrom |
Adjustment To Accumulated Deficit
AdjustmentToAccumulatedDeficit
|
-898527 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1313996 | usd |
CY2022 | nrom |
Amortization Of Value Of Stock Options
AmortizationOfValueOfStockOptions
|
28168 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
710209 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1460284 | usd |
CY2023 | nrom |
Amortization Of Value Of Stock Options
AmortizationOfValueOfStockOptions
|
20390 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2190883 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1313996 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1460284 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
28168 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
20390 | usd |
CY2022 | nrom |
Gain Loss On Change In Fair Value Of Warrants
GainLossOnChangeInFairValueOfWarrants
|
0 | usd |
CY2023 | nrom |
Gain Loss On Change In Fair Value Of Warrants
GainLossOnChangeInFairValueOfWarrants
|
234913 | usd |
CY2022 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
450550 | usd |
CY2023 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
379516 | usd |
CY2022 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
492427 | usd |
CY2023 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
520533 | usd |
CY2022 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
123992 | usd |
CY2023 | us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
643271 | usd |
CY2022 | us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
123992 | usd |
CY2023 | us-gaap |
Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
|
469263 | usd |
CY2022 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-18552 | usd |
CY2023 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-5783 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-142435 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | nrom |
Increase Decreasein Employee Retention Tax Credit
IncreaseDecreaseinEmployeeRetentionTaxCredit
|
0 | usd |
CY2023 | nrom |
Increase Decreasein Employee Retention Tax Credit
IncreaseDecreaseinEmployeeRetentionTaxCredit
|
507726 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-52216 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
345373 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
3783 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-32049 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
9514 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-106627 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-122804 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-10372 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
334595 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-522825 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
29584 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1568551 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
507575 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
13825 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-507575 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
13825 | usd |
CY2022 | us-gaap |
Payments Of Loan Costs
PaymentsOfLoanCosts
|
0 | usd |
CY2023 | us-gaap |
Payments Of Loan Costs
PaymentsOfLoanCosts
|
1445563 | usd |
CY2022 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
0 | usd |
CY2023 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
50000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
0 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1495563 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-477991 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
86813 | 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 |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
785522 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
872335 | usd |
CY2023 | 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. 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 collectability 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 or otherwise secured. 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> | |
CY2023Q4 | us-gaap |
Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
|
373013 | usd |
CY2023 | us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
278000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
3400000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1313996 | usd |
CY2022 | nrom |
Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
|
22215512 | shares |
CY2022 | nrom |
Stock Dilution Denominator
StockDilutionDenominator
|
47038 | shares |
CY2022 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
-1251496 | usd |
CY2022 | nrom |
Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
|
23512550 | shares |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1460284 | usd |
CY2023 | nrom |
Weighted Average Number Of Common Shares Outstanding Basic
WeightedAverageNumberOfCommonSharesOutstandingBasic
|
22215512 | shares |
CY2023 | nrom |
Stock Dilution Denominator
StockDilutionDenominator
|
134341 | shares |
CY2023 | us-gaap |
Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
|
1517784 | usd |
CY2023 | nrom |
Weighted Average Number Of Common Shares Outstanding Diluted
WeightedAverageNumberOfCommonSharesOutstandingDiluted
|
23599853 | shares |
CY2023 | nrom |
Discription Of First Established Under The Cares Act
DiscriptionOfFirstEstablishedUnderTheCaresAct
|
the 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 | |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1718000 | usd |
CY2022Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
1718000 | usd |
CY2023 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
258000 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
157861 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
|
178372 | usd |
CY2023Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
27086 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
33146 | usd |
CY2023Q4 | nrom |
Equipment Inventory
EquipmentInventory
|
780872 | usd |
CY2022Q4 | nrom |
Equipment Inventory
EquipmentInventory
|
786350 | usd |
CY2023Q4 | us-gaap |
Other Inventory
OtherInventory
|
965819 | usd |
CY2022Q4 | us-gaap |
Other Inventory
OtherInventory
|
997868 | usd |
CY2023 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
122000 | usd |
CY2023 | us-gaap |
Life Insurance Corporate Or Bank Owned Change In Value
LifeInsuranceCorporateOrBankOwnedChangeInValue
|
218000 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4386430 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4351558 | usd |
CY2023Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
3130430 | usd |
CY2022Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
3116030 | usd |
CY2023Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
0 | usd |
CY2022Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
63097 | usd |
CY2023Q4 | us-gaap |
Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
|
7516860 | usd |
CY2022Q4 | us-gaap |
Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
|
7530685 | usd |
CY2023Q4 | us-gaap |
Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
|
3196993 | usd |
CY2022Q4 | us-gaap |
Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
|
2817477 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4319867 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4713208 | usd |
CY2023Q4 | nrom |
Line Of Credit Principal
LineOfCreditPrincipal
|
7506704 | usd |
CY2023Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
373013 | usd |
CY2023Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
7133691 | usd |
CY2023 | 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 7: 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 $293,500 and $203,310 are included in 2022 and 2023, respectively, for amortized initial fees in the Consolidated Statements of Operations. Also included in royalties and fees were approximately $61,000 and $123,000 in 2022 and 2023, respectively, for equipment commissions. Most of the cost for the services required to be performed by the Company are incurred prior to the initial fee income being recorded which is based on contractual liability for the franchisee.</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, 2023 there were no company-operated or franchised Craft Pizza & Pub restaurants opened or closed. During that period there were 61 new non-traditional outlets opened and six non-traditional outlets closed.</p> | |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
4930014 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
799165 | usd |
CY2023Q4 | us-gaap |
Lease Deposit Liability
LeaseDepositLiability
|
4378927 | usd |
CY2023Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
5178092 | usd |
CY2023Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
2766000 | usd |
CY2023Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
1100000 | usd |
CY2023Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
5200000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
3400000 | usd |
CY2023 | us-gaap |
Gain Loss On Sale Of Leased Assets Net Operating Leases
GainLossOnSaleOfLeasedAssetsNetOperatingLeases
|
17700000 | usd |
CY2023 | nrom |
Income Tax Description
IncomeTaxDescription
|
The net operating loss carry-forward would indicate a deferred asset of $4.4 million compared to the balance sheet amount of $3.4 million, therefore no income tax was recorded for 2023 as it was offset fully against net operating losses at a tax rate of 24%. No temporary differences were noted. In effect, we have a reserve in the deferred tax asset account of $1.0 million. | |
CY2023Q4 | nrom |
Outstanding Principal Balance
OutstandingPrincipalBalance
|
575000 | usd |
CY2023Q4 | nrom |
Convertible Note Common Stock Price Per Shares
ConvertibleNoteCommonStockPricePerShares
|
0.50 | |
CY2023 | nrom |
Warrants Purchase Shares
WarrantsPurchaseShares
|
625000 | shares |
CY2023Q4 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
0.30 | |
CY2022 | nrom |
Warrants Purchase Shares
WarrantsPurchaseShares
|
100000 | shares |
CY2023 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
2250000 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2679001 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.20 | pure |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P3Y | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0168 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0282 | pure |
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 |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5316167 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2023 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
2076167 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3240000 | 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 |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
0 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
217833 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
396168 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
560999 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.22 | |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
28168 | usd |
CY2022 | nrom |
Tax Benefit
TaxBenefit
|
6873 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
20390 | usd |
CY2023 | nrom |
Tax Benefit
TaxBenefit
|
4894 | usd |
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
9522 | usd |
CY2023 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P36M | |
CY2023Q4 | nrom |
Aggregate Principal Amount Of Note Payable
AggregatePrincipalAmountOfNotePayable
|
50000 | usd |
CY2023Q4 | nrom |
Warrant Purchase Shares
WarrantPurchaseShares
|
50000 | shares |
CY2023 | us-gaap |
Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
|
20000 | usd |
CY2023 | dei |
Auditor Location
AuditorLocation
|
Margate, Florida | |
CY2023 | dei |
Auditor Firm
AuditorFirmId
|
5036 | |
CY2023 | dei |
Auditor Name
AuditorName
|
Assurance Dimensions |