2021 Q1 Form 10-Q Financial Statement

#000162828021010391 Filed on May 14, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $1.646M $2.640M
YoY Change -37.65% -50.33%
Cost Of Revenue $692.0K $1.091M
YoY Change -36.57% -58.31%
Gross Profit $954.0K $1.549M
YoY Change -38.41% -42.59%
Gross Profit Margin 57.96% 58.67%
Selling, General & Admin $3.314M $4.550M
YoY Change -27.16% -3.17%
% of Gross Profit 347.38% 293.74%
Research & Development $1.052M $861.0K
YoY Change 22.18% -34.22%
% of Gross Profit 110.27% 55.58%
Depreciation & Amortization $33.00K $49.00K
YoY Change -32.65% 206.25%
% of Gross Profit 3.46% 3.16%
Operating Expenses $4.366M $5.411M
YoY Change -19.31% -9.94%
Operating Profit -$3.412M -$3.862M
YoY Change -11.65% 16.68%
Interest Expense $2.219M $101.0K
YoY Change 2097.03% -46.28%
% of Operating Profit
Other Income/Expense, Net -$10.90M -$101.0K
YoY Change 10687.13% -45.11%
Pretax Income -$14.31M -$3.963M
YoY Change 261.01% 13.55%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.31M -$3.963M
YoY Change 261.01% 13.42%
Net Earnings / Revenue -869.2% -150.11%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.22 -$98.75K
COMMON SHARES
Basic Shares Outstanding 64.59M shares 40.37M shares
Diluted Shares Outstanding 64.59M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.47M $830.0K
YoY Change 2727.71% -22.43%
Cash & Equivalents $23.47M $833.0K
Short-Term Investments
Other Short-Term Assets $1.890M $480.0K
YoY Change 293.75% -53.85%
Inventory
Prepaid Expenses
Receivables $940.0K $910.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $26.30M $2.221M
YoY Change 1084.06% -54.11%
LONG-TERM ASSETS
Property, Plant & Equipment $12.00K $16.00K
YoY Change -25.0% -68.0%
Goodwill $25.91M $25.78M
YoY Change 0.49%
Intangibles $79.00K $212.0K
YoY Change -62.74%
Long-Term Investments
YoY Change
Other Assets $900.0K $610.0K
YoY Change 47.54% 144.0%
Total Long-Term Assets $28.63M $26.62M
YoY Change 7.55% 0.11%
TOTAL ASSETS
Total Short-Term Assets $26.30M $2.221M
Total Long-Term Assets $28.63M $26.62M
Total Assets $54.93M $28.84M
YoY Change 90.45% -8.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.781M $10.67M
YoY Change -27.08% 24.07%
Accrued Expenses $3.190M $4.404M
YoY Change -27.57% 48.28%
Deferred Revenue $2.180M $3.132M
YoY Change -30.4% 44.73%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.01M $1.195M
YoY Change 737.82%
Total Short-Term Liabilities $30.39M $21.05M
YoY Change 44.37% 30.76%
LONG-TERM LIABILITIES
Long-Term Debt $3.741M $2.104M
YoY Change 77.8%
Other Long-Term Liabilities $3.500M $3.340M
YoY Change 4.79% -25.11%
Total Long-Term Liabilities $3.741M $2.104M
YoY Change 77.8% -52.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.39M $21.05M
Total Long-Term Liabilities $3.741M $2.104M
Total Liabilities $38.37M $27.49M
YoY Change 39.58% 33.24%
SHAREHOLDERS EQUITY
Retained Earnings -$160.1M -$127.6M
YoY Change 25.51% 15.2%
Common Stock $7.000K $4.000K
YoY Change 75.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.62M $1.353M
YoY Change
Total Liabilities & Shareholders Equity $54.93M $28.84M
YoY Change 90.45% -8.24%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$14.31M -$3.963M
YoY Change 261.01% 13.42%
Depreciation, Depletion And Amortization $33.00K $49.00K
YoY Change -32.65% 206.25%
Cash From Operating Activities -$7.299M -$1.905M
YoY Change 283.15% -53.72%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.100M $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.098M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $29.71M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $27.92M $2.543M
YoY Change 997.76% -299.14%
NET CHANGE
Cash From Operating Activities -$7.299M -$1.905M
Cash From Investing Activities -$1.098M $0.00
Cash From Financing Activities $27.92M $2.543M
Net Change In Cash $19.53M $562.0K
YoY Change 3374.91% -110.65%
FREE CASH FLOW
Cash From Operating Activities -$7.299M -$1.905M
Capital Expenditures
Free Cash Flow
YoY Change

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-1905000 USD
CY2021Q1 phun Payments For Purchase Of Digital Currencies
PaymentsForPurchaseOfDigitalCurrencies
1098000 USD
CY2020Q1 phun Payments For Purchase Of Digital Currencies
PaymentsForPurchaseOfDigitalCurrencies
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1098000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2021Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
9981000 USD
CY2020Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
2595000 USD
CY2021Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
CY2020Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
560000 USD
CY2021Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
11835000 USD
CY2020Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2021Q1 phun Proceedsfrom Paymentsfor Factoring Agreement
ProceedsfromPaymentsforFactoringAgreement
0 USD
CY2020Q1 phun Proceedsfrom Paymentsfor Factoring Agreement
ProceedsfromPaymentsforFactoringAgreement
627000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
65000 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
15000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
29705000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27916000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2543000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-76000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19529000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
562000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4031000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
362000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23560000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
924000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
567000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
567000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
98000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
98000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
66000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
492000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
0 USD
CY2020Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
219000 USD
CY2021Q1 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
8000 USD
CY2021Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
180000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2101000 USD
CY2021Q1 us-gaap Accrued Rent Noncurrent
AccruedRentNoncurrent
188000 USD
CY2021Q1 phun Operating Lease Right Of Use Asset Net Of Accrued Rent
OperatingLeaseRightOfUseAssetNetOfAccruedRent
1913000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
500000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1601000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2101000 USD
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and trade accounts receivable. Although we limit our exposure to credit loss by depositing our cash with established financial institutions that management believes have good credit ratings and represent minimal risk of loss of principal, our deposits, at times, may exceed federally insured limits. Collateral is not required for accounts receivable, and we believe the carrying value approximates fair value.</span></div>
CY2021Q1 phun Payments For Purchase Of Digital Currencies
PaymentsForPurchaseOfDigitalCurrencies
1098000 USD
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt;margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Items subject to the use of estimates include, but are not limited to, the standalone selling price for our products and services, stock-based compensation, useful lives of long-lived assets including intangibles, fair value of intangible assets and the recoverability or impairment of tangible and intangible assets, including goodwill, reserves and certain accrued liabilities, the benefit period of deferred commissions, assumptions used in Black-Scholes valuation method, such as expected volatility, risk-free interest rate and expected dividend rate, our incremental borrowing rate in determining the present value of remaining lease payments, and provision for (benefit from) income taxes. Actual results could differ from those estimates and such differences could be material to the condensed consolidated financial statements.</span></div>
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2180000 USD
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17549173 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8368174 shares
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1646000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2640000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2397000 USD
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2054000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2678000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4234000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5075000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1279000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
7768000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.42
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23469000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3940000 USD
CY2021Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
91000 USD
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
91000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23560000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4031000 USD
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
15076000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
10071000 USD
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
0 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1029000 USD
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1128000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
650000 USD
CY2021Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
10012000 USD
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4435000 USD
CY2021Q1 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
195000 USD
CY2020Q4 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
195000 USD
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3741000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3762000 USD
CY2021Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
11507000 USD
CY2021Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
885000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
620000 USD
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
13000 USD
CY2021Q1 phun Amortization Of Warrant Costs
AmortizationOfWarrantCosts
1029000 USD
CY2020Q1 phun Amortization Of Warrant Costs
AmortizationOfWarrantCosts
0 USD
CY2021Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q1 us-gaap Interest Expense
InterestExpense
2219000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
101000 USD
CY2021Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2021Q1 phun Number Of Corporate Offices
NumberOfCorporateOffices
4 office
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y9M14D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1913
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
212000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
636000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
725000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
622000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
609000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
208000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2800000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
823000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1977000 USD
CY2021Q1 phun Operating Leases Income Statement Sublease Revenue Per Month
OperatingLeasesIncomeStatementSubleaseRevenuePerMonth
17000 USD
CY2021Q1 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
77000 USD
CY2021Q1 us-gaap Deposit Liability Current
DepositLiabilityCurrent
1202000 USD
CY2020 phun Security Token Period After Issuance Of Rights
SecurityTokenPeriodAfterIssuanceOfRights
P1Y
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
71211399 shares
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
71211399 shares
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
56380111 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
56380111 shares
CY2021Q1 phun Restricted Shares Subject To Repurchase For Unvested Shares Related To Early Option Exercises Under Stock Equity Plans
RestrictedSharesSubjectToRepurchaseForUnvestedSharesRelatedToEarlyOptionExercisesUnderStockEquityPlans
574 shares
CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
5996112 shares
CY2021Q1 phun Number Of Aggregate Intrinsic Value Of Options Exercised
NumberOfAggregateIntrinsicValueOfOptionsExercised
214000 USD
CY2021Q1 phun Fair Value Of Options Vested
FairValueOfOptionsVested
20000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1055000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
635000 USD
CY2020 us-gaap Recapitalization Costs
RecapitalizationCosts
255000 USD
CY2021Q1 us-gaap Recapitalization Costs
RecapitalizationCosts
255000 USD

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