2021 Form 10-K Financial Statement
#000149315222008449 Filed on March 31, 2022
Income Statement
| Concept | 2021 |
|---|---|
| Revenue | $16.90M |
| YoY Change | 87.11% |
| Cost Of Revenue | $13.45M |
| YoY Change | -8.18% |
| Gross Profit | $3.445M |
| YoY Change | -161.3% |
| Gross Profit Margin | 20.39% |
| Selling, General & Admin | $4.557M |
| YoY Change | -18.91% |
| % of Gross Profit | 132.28% |
| Research & Development | $1.986M |
| YoY Change | 15.47% |
| % of Gross Profit | 57.65% |
| Depreciation & Amortization | $549.0K |
| YoY Change | -11.45% |
| % of Gross Profit | 15.94% |
| Operating Expenses | $6.543M |
| YoY Change | -10.98% |
| Operating Profit | -$3.098M |
| YoY Change | -76.11% |
| Interest Expense | -$60.00K |
| YoY Change | 0.0% |
| % of Operating Profit | |
| Other Income/Expense, Net | $29.00K |
| YoY Change | 190.0% |
| Pretax Income | -$1.414M |
| YoY Change | -89.13% |
| Income Tax | |
| % Of Pretax Income | |
| Net Earnings | -$1.414M |
| YoY Change | -86.99% |
| Net Earnings / Revenue | -8.37% |
| Basic Earnings Per Share | -$0.11 |
| Diluted Earnings Per Share | -$111.2K |
| COMMON SHARES | |
| Basic Shares Outstanding | 12.72M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2021 |
|---|---|
| SHORT-TERM ASSETS | |
| Cash & Short-Term Investments | $5.101M |
| YoY Change | 209.15% |
| Cash & Equivalents | $5.101M |
| Short-Term Investments | |
| Other Short-Term Assets | $6.006M |
| YoY Change | 1568.33% |
| Inventory | $9.017M |
| Prepaid Expenses | |
| Receivables | $4.243M |
| Other Receivables | $787.0K |
| Total Short-Term Assets | $25.15M |
| YoY Change | 71.7% |
| LONG-TERM ASSETS | |
| Property, Plant & Equipment | $1.933M |
| YoY Change | -36.83% |
| Goodwill | |
| YoY Change | |
| Intangibles | |
| YoY Change | |
| Long-Term Investments | |
| YoY Change | |
| Other Assets | $93.00K |
| YoY Change | 3.33% |
| Total Long-Term Assets | $2.026M |
| YoY Change | -35.68% |
| TOTAL ASSETS | |
| Total Short-Term Assets | $25.15M |
| Total Long-Term Assets | $2.026M |
| Total Assets | $27.18M |
| YoY Change | 52.7% |
| SHORT-TERM LIABILITIES | |
| YoY Change | |
| Accounts Payable | $328.0K |
| YoY Change | 5.81% |
| Accrued Expenses | $1.927M |
| YoY Change | 6.46% |
| Deferred Revenue | |
| YoY Change | |
| Short-Term Debt | $0.00 |
| YoY Change | -100.0% |
| Long-Term Debt Due | $242.0K |
| YoY Change | -10.37% |
| Total Short-Term Liabilities | $3.394M |
| YoY Change | -24.91% |
| LONG-TERM LIABILITIES | |
| Long-Term Debt | $268.0K |
| YoY Change | -66.5% |
| Other Long-Term Liabilities | $268.0K |
| YoY Change | -72.93% |
| Total Long-Term Liabilities | $536.0K |
| YoY Change | -70.06% |
| TOTAL LIABILITIES | |
| Total Short-Term Liabilities | $3.394M |
| Total Long-Term Liabilities | $536.0K |
| Total Liabilities | $3.930M |
| YoY Change | -37.72% |
| SHAREHOLDERS EQUITY | |
| Retained Earnings | |
| YoY Change | |
| Common Stock | |
| YoY Change | |
| Preferred Stock | |
| YoY Change | |
| Treasury Stock (at cost) | |
| YoY Change | |
| Treasury Stock Shares | |
| Shareholders Equity | $23.25M |
| YoY Change | |
| Total Liabilities & Shareholders Equity | $27.18M |
| YoY Change | 52.7% |
Cashflow Statement
| Concept | 2021 |
|---|---|
| OPERATING ACTIVITIES | |
| Net Income | -$1.414M |
| YoY Change | -86.99% |
| Depreciation, Depletion And Amortization | $549.0K |
| YoY Change | -11.45% |
| Cash From Operating Activities | -$9.380M |
| YoY Change | 43.21% |
| INVESTING ACTIVITIES | |
| Capital Expenditures | -$71.00K |
| YoY Change | 255.0% |
| Acquisitions | |
| YoY Change | |
| Other Investing Activities | |
| YoY Change | |
| Cash From Investing Activities | -$71.00K |
| YoY Change | 255.0% |
| FINANCING ACTIVITIES | |
| Cash Dividend Paid | |
| YoY Change | |
| Common Stock Issuance & Retirement, Net | $0.00 |
| YoY Change | -100.0% |
| Debt Paid & Issued, Net | |
| YoY Change | |
| Cash From Financing Activities | 12.91M |
| YoY Change | 140.34% |
| NET CHANGE | |
| Cash From Operating Activities | -9.380M |
| Cash From Investing Activities | -71.00K |
| Cash From Financing Activities | 12.91M |
| Net Change In Cash | 3.455M |
| YoY Change | -387.92% |
| FREE CASH FLOW | |
| Cash From Operating Activities | -$9.380M |
| Capital Expenditures | -$71.00K |
| Free Cash Flow | -$9.309M |
| YoY Change | 42.56% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q4 | POLA |
Employee Retention Credit Receivable
EmployeeRetentionCreditReceivable
|
USD | |
| CY2021Q4 | POLA |
Current Portion Of Ppp Loan Payable
CurrentPortionOfPppLoanPayable
|
USD | |
| CY2021Q4 | POLA |
Ppp Loan Payable Net Of Current Portion
PppLoanPayableNetOfCurrentPortion
|
USD | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2020Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2020 | POLA |
Gain On Forgiveness Of Loan Payable
GainOnForgivenessOfLoanPayable
|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
USD | |
| CY2020 | POLA |
Gain On Forgiveness Of Loan Payable
GainOnForgivenessOfLoanPayable
|
USD | |
| CY2020 | POLA |
Increase Decrease In Employee Retention Credit Receivable
IncreaseDecreaseInEmployeeRetentionCreditReceivable
|
USD | |
| CY2020 | POLA |
Proceeds From Sale Of Common Stock Net Of Offering Costs
ProceedsFromSaleOfCommonStockNetOfOfferingCosts
|
USD | |
| CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
USD | |
| CY2021 | POLA |
Proceeds From Paycheck Protection Program Loan
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|
USD | |
| CY2021 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
USD | |
| CY2021 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
USD | |
| CY2020 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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|
shares | |
| CY2020 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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|
||
| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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|
shares | |
| CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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|
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| CY2021 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
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|
shares | |
| CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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|
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| CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
shares | |
| CY2021 | POLA |
Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice
|
||
| CY2021 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
USD | |
| CY2021 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
USD | |
| CY2020 | us-gaap |
Deferred Federal Income Tax Expense Benefit
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|
USD | |
| CY2021 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
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|
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| CY2020 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
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|
USD | |
| CY2021 | us-gaap |
Income Tax Expense Benefit
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|
USD | |
| CY2021 | POLA |
Carryback Net Operating Loss
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|
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| CY2020 | POLA |
Carryback Net Operating Loss
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|
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Effective Income Tax Rate Continuing Operations
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Deferred Tax Assets Liabilities Net
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|
USD | |
| CY2020Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
USD |
